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The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited
The FT reports the UK Banks being told to hold triple the usual liquid assets to be able to cope with a market meltdown if the UK crashes out of the EU.
Polymetal FY revenue +4% (in-line), cash costs -1% (beat own target), adj. EBITDA +5% (in-line), avg. gold price -2% (silver: -8%), net debt +7%, capex -10%, free cash flow +23%. Final div +3.3% (FY: +9%). FY’19-20 production guidance unchanged, 2019 cash costs seen in-line with 2018.
UK specialist mortgage providers OneSavings Bank and Charter Court Financial Services confirm advanced all-share (nil-premium?) merger talks. OSB would own 55% and its CEO would lead the new bigger outfit. Deadline for firm intention to make offer: 6 April.
Cairn Energy expects final award from $1.4bn Indian tax claim to be more protracted, arbitration panel unlikely too rule before late 2019.
Kier Group revises net debt position (+38.8% from 22 Jan trading statement) after adjustments to hedging activities. FY guidance unchanged, still expected H2-weighted.
Clarkson FY revenue +4.1%, in-line with expectations, underlying pre-tax profit -9.7%, final dividend +2% (full year: +3%). Forward order book +15%. Notes global trade & Brexit uncertainty leading to execution delays and impacting rates. Sees FY’19 results weighted toward H2.
(Sources: Company newswires, Bloomberg, CNBC, FT, Reuters, Wall Street Journal)
For more information on any of these individual news items, call into the trading floor
| Stock | Code | Close | High | Low |
| OCADO | OCDO | 0.2% | 1.0% | -1.3% |
| SPORTS DIRECT | SPD | -0.3% | -0.2% | -3.4% |
| DEBENHAMS | DEB | 14.4% | 39.2% | 6.8% |
| RPC | RPC | -1.5% | -0.9% | -1.6% |
| VODAFONE | VOD | 2.1% | 2.8% | 0.1% |
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Prepared by Michael van Dulken, Head of Research