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
Barratt Developments H1 completions +4.1% YoY, revenue +7.2%, pre-tax profit +19.1%, Interim dividend +11.6%, Net cash +133.7%, Forward Sales +7.3% but Reservations down 3-5%. Trading in-line, guidance unchanged. Plans £175m special dividends in Nov ‘19 and Nov ‘20. Average sale price flat, with higher London prices offsetting 1.8% lower regional ASP.
Redrow H1 completions +12% YoY, revenue +9%, pre-tax profit +5% (in-line with consensus), order book +11%. Gross margin -50bps to 24% (in-line). Interim dividend +11% and proposed a 30p/share additional cash return through a B Share Scheme (with a consolidation). Christmas-to-early-Jan trading subdued, but recovered in past 3 weeks. FY guidance reiterated.
CYBG Q1 in-line; Customer Lending +1.4% (Mortgages +1.5%, net SME +1.2%), Deposits +0.2%; NIM 172bp down vs 2018 on mortgage pricing pressure, but improves FY guidance to upper end of range; integrating Virgin Money well, expects min £150m annual synergies vs £120m prev. Comfortable with PPI provisioning.
(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 |
| BP | BP/ | 4.9% | 5.2% | 2.9% |
| OCADO | OCDO | 4.3% | 5.1% | -3.7% |
| INDIVIOR | INDV | -10.4% | -9.5% | -26.5% |
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Prepared by Michael van Dulken, Head of Research