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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
Morrisons 9-week like-for-like sales (ex-fuel) +3.6% vs +4%e (2.9-5% range), with Retail +0.6% beating +0.5%e (0.2-1%) but Wholesale +3.0% missing +3.5%e (2.3-5%. Like-for-like transactions -0.9%, but items per basket +0.8%; “change in consumer behaviour during period…strong offer…trading business hard for customers”; Backs FY guidance.
Ferrexpo Q4 iron pellet production +1.6% YoY (+7.2% QoQ), FY’19 production expected in-line with 2018 due to ongoing maintenance. Average price +9%, but FY production cost expected +33% on higher energy/mining costs. Net debt -15.6%.
Shire takeover by Takeda now effective, with the company no longer trading.
Greene King 9M like-for-like sales +3.2% YoY after record Christmas trading (+10.9%) ahead of consensus. Cost mitigation programme on track to limit cost increases to to £10-20m. Bought back £62m of Spirit A4 bonds. Confident in FY outlook despite Brexit uncertainty.
SIG cites challenging market conditions and lower trading revenues in H2; H2 like-for-like growth worsened since Jul-Oct update (20 Nov); points to full year pre-tax profit (inc property gains) -5.3%.
Norwegian Petroleum Directorate lowered reserve estimates for Faroe Petroleum’s Oda field by 30.7% to 32.7m boe. Takeover predator DNO raised concerns over transparency and future production, saying Faroe’s independent valuation was based on higher reserve estimate.
(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 |
| BT | BT/A | -0.9% | 0.8% | -1.2% |
| SMITH & NEPHEW | SN/ | 1.7% | 3.3% | 1.3% |
| WM MORRISON SUPERMARKETS | MRW | 1.4% | 1.9% | -0.6% |
| OPHIR ENERGY | OPHR | -2.5% | 1.3% | -3.4% |
| DUNELM | DNLM | 19.6% | 19.6% | 13.4% |
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Prepared by Michael van Dulken, Head of Research