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Movers & Shakers - 14 March 2019

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

Sports Direct offers Debenhams 12-month 0% unsecured £150m funding (£40m to repay bridge loan, £110m for working capital), in return for Mike Ashley becoming CEO and 5% new shares, raising his stake to 35%. Also increased stake in Game Digital to 28.43% (from 25.75%).

Balfour Beatty selected as preferred bidder for Network Rail’s £1.5 billion Central Track Alliance contract. Gets 80% of contract (Atkins: 10%, TSO: 10%).

OneSavings Bank and Charter Court Financial Services agree all-share merger; CCFS s’holders to get 0.8253 new OSB shares; 45% stake in new group.

Capita 2018 adj. revenue -5%, adj. pre-tax profit -26%, free cash flow -209%, order book -13.4% after loss of Prudential and local govt business. Sees FY’19 pre-tax profit from -6% to +4.5% and net debt/EBITDA ratio in top half of 1.0-2.0 range. Reiterates 2020 cost savings, cash flow and margin targets. Will consider dividend payments when generating sustainable cash flow.

Just Group announced 9.99% rights issue and sale of £300m+ debt. FY gross written premiums +14.9%, total revenue -3.6%, adj. op. pre-tax profit -5% (new business +44%, in-force +1%). Solvency ratio -30bps to 136%. Expects to reinstate rebased dividend later this year.

Cineworld 2018 pro-forma admissions +2.6% (adj. for Regal acquisition), revenue +7.2%, adj. EBITDA +9.4%. Final div $0.10. Regal integration benefits better better than expected, to deliver $150m FY’19 synergies. Gem Diamonds sells pink 13.33 ct diamond for $8.75m.

Savills 2018 revenues +10%, underlying profit +2% (statutory -3%), final div +3.3%; solid start to 2019 but year ahead overshadowed by macro/political uncertainties; difficult to predict; see transaction declines in a number of markets; reiterates guidance.

(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

Prior day's Movers & Shakers:

Stock Code Close High Low
WM MORRISON MRW 0.5% 2.0% -1.3%
HIKMA PHARMACEUTICALS HIK -5.5% -0.9% -8.2%
STANDARD LIFE ABERDEEN SLA 2.5% 4.3% 1.5%
DIXONS CARPHONE DC/ 3.3% 3.4% 1.4%
PROVIDENT FINANCIAL PFG -2.7% 3.0% -3.1%
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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Prepared by Michael van Dulken, Head of Research
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