This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
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
Fresnillo FY Silver production +5.3% to 61.8moz (Q4: flat QoQ -3.2% YoY) lower than anticipated due to lower grades and operational issues, 2019 production expected lower (58-61moz); FY Gold production +1.3% to 922.5oz (Q4: +3% QoQ, flat YoY), 2019 production seen flat (910-930oz)
Antofagasta Q4 copper production +3% YoY (top end of guidance), gold -1.1%, net cash costs +3.2%. Copper prices -6.3%. Expects 2019 copper production +3-9%, gold +15-25%, molybdenum down 8-15%. 2019 net cash costs in-line with 2018, $100m op savings to offset higher input costs.
Burberry Q3 like-for like-retail revenues +1% (bottom of 1-3% consensus); -1% incl. FX, -2% at constant FX. Mainland China “up mid-single digits”. 2 net store closures (space -1%). FY guidance (ex-FX) reiterated with £100m cost savings. FX hit to adj. operating profit in-line at c. £25m.
Metro Bank FY underlying pre-tax profit +138% (softening over last quarter), assets +32%, loans +48%, deposits +34%. Q4 echoed prior quarter trends, adding 100K new customers.
JD Wetherspoon 12-wk sales +7.2% like-for-like, +8% total; 25-wk sales +6.3% LFL, +7.2% total. FY net debt expected a shade higher; costs higher, especially labour (+£30m), but also interest, utilities, repairs and depreciation. Pre-tax profit for first half expected lower; FY expectations unchanged.
RPC recommends 782p per share takeover offer (£3.3bn) from Apollo private equity. Represents 15-25% premium vs. last September, when talks first began, and a 7.6% premium to yesterday’s close when factoring in 8.1p interim dividend to be paid 25 Jan.
WH Smith 20-wk like-for-like sales flat YoY (reported +6%). Travel like-for-like +3%, with gross margin in-line. InMotion integration progressing well. High Street like-for-like sales -2%, on track to deliver £9m in FY cost savings. Notes broader uncertainty in the economic environment.
(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 |
| BHP | BHP | -3.0% | -2.4% | -4.0% |
| EASYJET | EZJ | 5.3% | 6.6% | -2.1% |
| DIXONS CARPHONE | DC/ | 5.6% | 7.2% | -1.7% |
| RPC | RPC | 1.3% | 2.9% | 0.2% |
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Prepared by Michael van Dulken, Head of Research