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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
Next FY Revenues £4.22B, +2.5% (top of consensus; Retail -7.9%, Online +14.7%, Brand +2.6%), Op profit £762.3m, +0.3% (mid-consensus; Retail -21%, Online +13.8%, Brand -0.6%), pre-tax £722.9m, -0.4% (low consensus); EPS +4.5% beats 3.6% guidance thanks to £325m of buybacks. Final div +4.7%, 2020 guidance reiterated. High street challenging, offset by Online strength.
Halma sees FY adj. pre-tax profit in-line with expectations, with strong cash generation. Reports strong UK/US growth and more moderate Europe/Asia growth. Order intake ahead of last year. Notes some FX tailwinds in H2, offsetting H1 headwinds. M&A integration progressing well.
Persimmon launches homebuyer “retention” plan, the first major housebuilder to offer a 1.5% retention of total home value by the buyer’s solicitor (£3.6K on average) until any build quality faults are rectified. New standard contract clause expected in place by end-June.
Reuters reports the EU will give an antitrust warning about Vodafone’s €19bn acquisition of Liberty Global assets in Germany, Hungary, Romania and the Czech Republic.
Ted Baker FY group revenue +4.4%, pre-tax profit -26.1% (-14.3% pre-exceptional). UK/Europe retail +4.6%, North America +4.7%, RoW +4.7%, Online +20.4%. Final dividend -6% (FY: +2.5%) Notes £12.1m exceptional items due to retail impairments, unrecoverable House of Fraser balances and costs of investigation against ex-CEO. 2019 store expansion capex expected +2.3%.
IG Group Q3 group revenue -12% YoY (UK -16%, EU -13%, US -11%, APAC -9%). Clients +1% YoY. ESMA Region Professional client revenue -20% (client numbers flat), Non-pro -4%. Reiterates FY guidance for lower revenues and flat costs. Expects to maintain flat dividend.
Renishaw cuts revenue guidance by 6-7% and adj. Pre-tax profit by 15-16%. H1 slowdown in Asian growth for encoder products and from large end-user manufacturers is expected to persist in 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 |
| KINGFISHER | KGF | -5.8% | 2.4% | -5.8% |
| INMARSAT | ISAT | 14.9% | 19.9% | 14.9% |
| KIER | KIE | -11.3% | 0.1% | -12.8% |
| IQE | IQE | -15.2% | -4.9% | -19.7% |
| PARAGON BANKING | PAG | -0.8% | 1.4% | -1.1% |
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Prepared by Michael van Dulken, Head of Research