10 The Sunday Times June 24, 2018 BUSINESS

BRIEFING DEBENHAMS MARKET WATCH IAN COWIE

GETTY IMAGES One person’s industrial stock in RPC at £6.72. To put THE ISSUE THE ANALYST effluent is another person’s this in perspective, the same HIGH STREET BLUES WILL HEFFERNAN, CANTOR Sorry, Sir industrial affluence, or so the shares traded hands at £10.32 City cynics say. Rising last September, before green In its third profit warning of this year, The UK sector has had a tough time awareness of pollution — jitters made traders’ screens Debenhams announced that its lately, with many of Debenhams’s David: especially that caused by turn red. full-year profits would be £35m-£40m peers giving similar trading updates. plastic — could prove Packaging of all kinds is in (€40m-€45m). The department store Consumer sentiment and spending profitable for investors in rising demand as a result of chain blamed increased discounting in the UK is weak. The sector has been companies that have practical increased internet retailing. by competitors and “weakness in affected by a shift to more convenient as an solutions to this complex The rough and tumble of key markets”. online shopping, where consumers global problem. delivery often requires even Analysts had been expecting the can get better discounts. Even schoolchildren are more protective wrapping retailer to produce profits of £50m. Digital sales at Debenhams rose by investor, exercised about marine litter than we have grown used to The company’s previous profit 16% in the 15 weeks to June 16 and the these days, following Sir on the high street. Fears about plastic bags, cutlery and straws affecting warnings came in January and April retailer has hired a new head of digital David Attenborough’s After a conversation with marine life have soared, but RPC makes none of them and were driven by a decline in to drive growth initiatives. The plan to wonderful revelations about the veteran fund manager Christmas sales and exceptionally cut costs by £20m a year was on track, I think how this hurts whales and Nigel Thomas, who runs the straws, carrier bags, wet accounting standards poor weather respectively. the company said, and it was “driving other life beneath the waves. £3bn (€3.4bn) AXA wipes, drink stirrers, regulator knocked a further Debenhams said that same store out further cost opportunities”. The A BBC story competition for Framlington UK Select disposable cutlery and cotton 6% off the shares on Tuesday. sales fell 1.7% year-on-year in the 15 retailer expects to have net debt of plastic’s five to 13-year-olds recently Opportunities fund, I began buds, but RPC does not make Thomas claims fears are weeks to June 16, even though the £320m at the end of the financial year. saw the word “plastic” crop to look at packaging any of the above. That’s right: overblown and the presence same time frame last year had been a Debenhams currently trades on up no fewer than 3,359 times, companies last year. it has zero exposure to these of Standard Life, AXA and weak trading period. Management a 2018 estimated price-to-earnings and not in a nice way. Unfortunately, DIY products. BlackRock at the top of RPC’s guidance was for the current ratio of 5.55 times and a dividend fantastic That is why this contrarian investors often do a lot of This sort of boring fact can shareholder register adds conditions to persist in the short term. yield of 7.55%. investor was delighted to see research that does not get overlooked amid moral some reassurance. The retailer’s stock fell 20% on the day a sixth wiped off the share immediately translate into indignation and market Vervaat claimed that he the profit warning was issued. Debenhams price of RPC Group, Europe’s action. After careful hysteria. expects current investment in biggest plastics producer, on consideration, I concluded — Another consideration was greener plastics to increase 35p the same day it reported that rightly, as it turned out — that a chat with Pim Vervaat, RPC’s profits from the £317m THE BOSS it had doubled its profits and RPC looked expensive last RPC’s chief executive, about it achieved in the year to 30 increased revenues by a autumn. I feel the same today how it aims to make more of March by £50m a year by SERGIO BUCHER 25 third. The markdown seemed about its rivals DS Smith and its packaging reusable or 2021. It was also encouraging Sergio Bucher became chief executive particularly harsh, given that , whose shares recyclable. He told me: to learn Claire Pike, the wife of Debenhams in October 2016 and 20 this company also announced trade at prices that are “There could be a really good of RPC chairman Jamie Pike, has been attempting to turn around an increase in its dividend for respectively 21 and 20 times opportunity here because invested £100,000 of her own the ailing business. He is at the halfway 15 the 25th year in a row. their corporate earnings and corporate clients are not money at £6.86 a share. RPC point of a three-year cost-cutting and J F M A M J Expectation that the EU offer dividend yields of 2.8% talking about price any more; traded at £6.61 last week. efficiency programme. Source: Yahoo and British government will and 2.5%. they are talking about I am as keen as the next Before his role at the department ban a wide range of single-use By contrast, RPC is priced sustainability.” sailor on keeping the oceans store chain, Bucher was vice-president Market cap: £211.55m; Share price: plastic products has at just under 11 times earnings True, investing in greener clean. But it seems to me that of Amazon’s fashion business in 17.23p; DPS: £0.013; EPS: £0.031; Top prompted stock market fears and its dividend yield exceeds ways to get food, drink and RPC has been wrongly tarred Europe. He has also held senior roles shareholders: Sports Direct to hit fever pitch and, in my 4.3%. But cheap is not always personal care products into with the polluter’s brush. at Puma, Nike, Inditex, Grupo Cortefiel International, 29.7%; Brandes humble opinion, caused a the same thing as good value. homes has dented RPC’s This company, based in and DuPont. Investment Partners, 12.33%; classic overreaction in Could this €2.7bn company cashflow. Worse still, there Rushden, Northamptonshire, Bucher studied engineering at Landmark Group, 7.55%; Schroders, share prices. be regulated out of existence? are worries about the way might do well by doing good. Ecole Polytechnique Fédérale de 6.55%; Odey Asset Management While I can’t always be One reason to believe that this is presented, and Here and now, the first Lausanne in Switzerland. -6.36% (short position) right, I can always be will not happen is that the EU confirmation that RPC is step towards making a profit different; so I bagged some has proposed banning plastic corresponding with the is to buy low.

ISEQ FTSE 100 23.07 48.36 0.32% 0.63% H:7,257.41 H:7,903.5 DATABANK 7,105.36 L:6,410.26 7,682.27 L:6,866.9 IRISH SHARES THE WEEK IN THE MARKETS THE ECONOMY

ISEQ RISERS DOLLAR Consumer price index current rate annual change Permanent TSB Group: €1.89, U 8.4% EUR > USD 31 Abbey 15.9 +3.92 16 13.6 1.26 9.04 340.9 35 (£) 2.25 –1.75 3.52 2.05 0 5.01 246.6 : €6.89, U 6.5% U0.6% Z0.4% 7,200 : €6.30, U 6.2% 4 AIB Group 4.87 +0.49 5.9 4.4 3.61 13.82 13229.9 3 89.45 –2.45 94.92 73.69 0.81 24.72 15768.5 Residential property price index current rate annual change 7,000 $1.16 41 Aminex 0.03 +0 0.06 0.03 – – 102 6 42.38 +4.08 42.6 27.71 1.04 22.03 7621.7 0.00 FALLERS W U0.7% U13% 12-month high: $1.25 44 Amryt Pharma (£) 0.16 +1.55 0.26 0.16 0 – 45 40 Mainstay Medical International 15.2 +0 16.5 12.7 – – 133.3 6,800 Datalex: €2.65, V 7% low: $1.11 Vehicles licensed for the first time May 2018 annual change UDG Healthcare: £8.34, V 5.1% 28 6.42 +2.02 6.68 5.11 0.25 22.26 588.1 32 Malin Corporation 7.15 –2.05 12.71 6.6 – – 325.5 6,600 CRH: €31.14, V 3.7% POUND 13,015 U1.4% 17 14.2 +6.13 33.48 12.23 0.81 16.6 1276.1 33 Mincon Group 1.37 +0.74 1.37 1 1.51 20.32 288.4 EUR > GBP 6,400 Average earnings a week prev. quarter qoq change 7 6.96 +4.43 8.25 6.18 3.2 11 7503.2 25 Origin Enterprises 6.3 +6.24 7.1 4.93 3.33 12.44 791.2 €726 €723 U0.4% 22 C&C Group 3.2 –2.44 3.37 2.58 4.94 10.67 988.3 2017 2018 £0.87 46 Ormonde Mining 0.05 +2.22 0.05 0.02 – – 21.7 Source: Yahoo W 0.00 Unemployment on last month annual change 14 (£) 1.76 +0 2 0.02 0.99 23.5 1343.6 48 Ovoca Gold 0.1 +0 0.16 0.08 – – 8.2 12-month high: £0.92 low: £0.86 37 CPL Resources 5.78 –2.03 6.75 5.66 2.41 9.74 157.1 139,000/5.8% Z4,100 Z39,200 8 Paddy Power Betfair (£) 83.4 +0.6 91.85 60.27 2.5 20.12 6997.9 DOW JONES CAC 40 1 CRH 31.14 –3.74 33.09 26.53 2.33 15 26104.1 24,580.89 5,387.38 YEN Manufacturing output current rate annual change 23 Permanent TSB Group 1.89 +8.39 2.96 1.64 0 11.7 857.6 114.50 H:5,657.4 YEN > USD 18 Dalata Hotel Group 6.89 +6.49 6.92 4.65 1.54 16.17 1269.7 509.59 H:26,616.7 Z7.3% 9.9% 47 Petroneft Resources (£) 0.01 –1.92 0.02 0.01 0 – 9 2.03% L:21,197.1 2.08% L:4,995.1 Z 36 Datalex 2.65 –7.02 4.1 2.51 1.98 32.71 204.7 Retail sales current rate annual change 42 Providence Resources 0.14 +0.75 0.22 0.05 – – 80.7 ¥109.94 9 DCC (£) 68.6 –0.65 78.08 64.45 2.01 18.26 6127.5 NASDAQ DAX V 0.72 U1.5% U4.8% 2 Ryanair Holdings 16.58 +3.21 19.79 14.21 0 14.25 19173.1 7,692.82 12,579.72 12-month high: ¥114.72 45 Donegal Investment Group 9.05 –1.63 9.3 5.5 1.93 20.22 37.9 low: ¥104.55 Irish trade latest month prev. month annual change 5 Smurfit Kappa Group 34.72 –0.46 37.14 22.82 2.72 13.51 8236 53.56 H:7,806.6 430.83 H:13,596.9 29 FBD Holdings 11.05 +0.91 13 7.65 4.15 11.38 383.1 balance (€bn) 24 2.2 –1.79 2.57 2.07 1.56 17.06 853.2 0.69% L:6,082.0 3.31% L:11,726.6 OIL €4.47bn €4.03bn U32% 15 First Derivatives 50 +0 54.4 29.72 0.64 53.67 1290.2 DOLLARS/BARREL 11 Tullow Oil (£) 2.36 +3.51 2.79 1.42 0 10.35 3284.3 Gross domestic Q4 2017 Q3 2017 annual change 43 GAN (£) 0.56 –1.75 0.81 0.15 0 67.65 47.6 S&P 500 FTSE EUROFIRST product 12 UDG Healthcare (£) 8.34 –5.07 9.63 7.4 1.46 22.9 2072.6 2,754.88 1,506.16 U3.2% U4.2% U8.4% 10 15.9 +0.25 18.26 13.21 1.59 18.07 4707.1 $73.44 50 Venn Life Sciences (£) 0.07 +0 0.16 0.05 0 13.04 4.3 24.78 H:2,872.9 14.92 H:1,588.0 V 3.02 Budget surplus/ latest month prev. month of GDP 2016 26 Glenveagh Properties 1.14 +0.71 1.26 1.06 0 83.75 756.4 0.89% L:2,405.7 0.98% L:1,415.8 12-month high: $80.50 deficit low: $44.35 Z€3.43bnZ€1.1bn 0.9% 13 Grafton Group (£) 8.05 –1.23 8.51 6.82 2.16 13.12 1913.9 NIKKEI SENSEX 49 Great Western Mining 0.01 +0 0.03 0.01 – – 5.3 GOLD 22,516.83 35,689.60 DOLLARS/TROY OZ 20 Green REIT 1.52 –0.13 1.64 1.38 4.37 22.87 1054 334.92 H:24,129.3 67.46 H:36,444.0 34 Greencoat Renewables 1.05 +0.96 1.1 1.02 5.79 11.17 283.5 AIM IRISH COMPANIES 1.47% L:19,239.5 0.19% L:30,680.7 $1,269.52 10-YEAR BOND YIELDS % 16 Greencore Group (£) 1.82 +0.86 2.55 1.2 3.18 11.61 1286.7 V 11.56 HANG SENG ALL ORDS 12-month high: $1,359.26 19 Hibernia REIT 1.55 +1.3 1.57 1.36 2.79 29.61 1076.2 low: $1,210.29 variation 12 months 29,338.70 6,322.10 high low 30 Hostelworld 3.93 +0 4.8 2.94 – – 375.6 970.79 H:33,484.1 116.80 H:6,347.8 BITCOIN 1 Connemara Mining Co 0.03 –1.8 0.06 0.02 – – 3.1 IRELAND 0.86 ▼ 0.04 1.19 0.47 39 IFG Group (£) 1.28 –1.35 1.9 1.24 0 12.83 134.9 3.20% L:25,199.9 1.88% L:5,702.2 DOLLARS 2 Petrel Resources 0.02 –8.7 0.04 0.01 – – 2.1 38 Independent News & Media 0.1 +0 0.14 0.08 0 7.11 138.7 SHANGHAI S&P TSX UK 1.32 ▼ 0.01 1.79 0.72 3 Conroy Gold & Natural Resources 0.17 +3.03 0.47 0.11 – – 74.3 $6,507.05 21 5.27 +0 6.03 5.07 2.48 18.32 1001.3 2,889.76 16,450.14 Z 1,140.12 US 2.91 ▼ 0.01 3.13 2.02 27 Irish Residential Properties REIT 1.38 +2.22 1.6 1.32 3.98 22.21 593.1 4 Karelian Diamond Resources 0.05 –10.24 0.16 0.04 – – 1.6 132.14 H:3,587.0 135.72 H:16,489.5 12-month high: $19,497.4 low: $919.5 4.37% L:2,837.1 0.83% L:14,785.8 Price as of 11am Saturday GERMANY 0.34 ▼ 0.07 0.80 -0.42

BRITAIN’S TOP 200 COMPANIES

Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Yield P/E Yield P/E Yield P/E Yield P/E V on week high low (£m) V on week high low (£m) V on week high low (£m) V on week high low (£m) 53 3i Group 932.4 –39.4 1029.5 853.0 3.3 - 9051.8 167 Dixons Carphone 197.0 +1.8 301.9 149.1 - 9.3 2272.0 36 London Stock Exchange 4461.0 +51.0 4554.0 3605.0 1.0 29.7 15435.1 57 Schroders 3157.0 –30.0 3773.0 3079.0 3.1 15.0 8554.0 190 3i Infrastructure 225.7 –5.1 271.7 203.0 3.8 - 1833.8 198 Domino’s Pizza 350.0 +6.6 386.9 263.4 2.4 25.7 1722.0 142 Man 187.1 +2.3 217.7 148.7 3.8 16.5 3038.6 59 Scottish Mortgage 540.0 –6.0 549.0 391.4 0.6 - 7718.1 91 Admiral 1912.0 +20.5 2178.0 1784.0 2.8 16.3 5445.0 68 EasyJet 1790.5 +36.0 1796.0 1151.0 2.3 16.0 7112.0 99 Marks & Spencer 297.1 –6.4 354.1 264.5 6.3 185.7 4827.1 79 Segro 662.2 –5.4 674.0 480.1 2.5 6.8 6611.4 161 Alliance Trust 753.0 nc 769.0 689.0 1.8 - 2565.5 131 Electrocomponents 742.2 +2.6 753.2 568.6 1.7 22.1 3277.2 114 Mediclinic International 542.4 –4.6 764.5 507.5 1.5 58.3 3997.5 103 Severn Trent 1930.0 +64.0 2309.0 1703.0 4.3 18.9 4555.9 25 Anglo American 1697.0 –20.4 1926.4 972.9 2.1 9.4 23836.3 62 Evraz 522.0 –7.6 556.6 189.7 4.2 14.7 7475.3 118 Meggitt 491.7 –5.5 526.0 417.1 3.1 11.1 3817.7 150 Shaftesbury 936.0 nc 1055.0 917.0 1.7 8.3 2872.5 46 Antofagasta 1028.5 +7.5 1149.0 751.0 1.8 18.3 10139.5 33 Experian 1855.0 –13.5 1890.0 1446.0 1.7 30.1 17055.7 42 Melrose 221.9 –13.8 258.8 198.8 1.5 - 10526.9 15 Shire 4066.0 +28.5 4520.0 2953.5 0.6 11.7 37144.0 194 Ascential 445.6 +10.6 445.6 318.7 1.1 82.5 1784.8 37 Ferguson 6077.0 +134.0 6246.8 4707.8 1.7 17.1 15379.6 195 Mercantile Investment Trust 221.9 –2.3 226.0 189.6 2.7 - 1767.6 24 Sky 1415.0 +78.0 1415.0 900.0 - 29.9 24324.1 157 Ashmore 372.0 –9.6 433.2 332.3 4.5 17.7 2651.4 121 Foreign & Colonial 698.0 nc 700.0 586.0 1.5 - 3746.5 116 Merlin Entertainments 384.8 +5.3 490.1 318.4 1.9 18.8 3923.3 90 Smith (DS) 517.8 –46.0 579.2 444.1 2.9 25.5 5526.0 41 Ashtead 2252.0 –119.0 2400.0 1543.0 1.2 11.4 11242.6 56 Fresnillo 1173.0 +5.5 1672.0 1140.5 2.0 20.9 8643.8 159 Metro Bank 3262.0 –88.0 4040.0 3198.0 - 254.8 2622.4 40 Smith & Nephew 1395.5 +28.0 1431.0 1215.0 1.6 21.5 12206.7 28 Associated British Foods 2835.0 +99.0 3371.0 2389.0 1.5 21.5 22444.0 110 G4S 271.7 –4.1 341.1 238.4 3.5 17.4 4215.7 86 Micro Focus International 1364.0 +21.0 2739.0 911.8 5.3 26.5 5934.5 73 Smiths 1728.0 –35.5 1801.0 1444.0 2.5 18.7 6833.8 7 Astra Zeneca 5229.0 –169.0 5478.0 4325.0 3.8 33.1 66222.6 5 Glaxo Smith Kline 1546.0 –10.0 1711.0 1242.8 5.2 74.3 76030.0 200 Millennium & Copthorne Hotels 528.0 –6.0 625.5 431.9 1.2 13.3 1714.6 168 Smith WH 2058.0 +24.0 2347.0 1664.0 2.3 20.0 2267.1 113 Auto Trader 427.0 +6.3 427.0 319.0 1.2 25.6 4074.4 9 Glencore 387.1 +5.8 415.0 277.2 1.3 13.1 55845.4 64 Mondi 2015.0 –57.0 2130.0 1693.0 2.5 16.4 7399.9 66 Smurfit Kappa 3066.0 –16.0 3220.0 2150.0 2.3 19.6 7271.9 102 Aveva 2870.0 +178.0 3054.0 1803.0 1.4 87.0 4626.6 185 Grafton Group Units 806.0 –9.0 841.5 685.0 1.8 15.0 1913.3 189 Monks Investment Trust 851.0 +3.0 858.0 676.5 0.2 - 1851.3 154 Sophos 592.0 –4.0 669.5 416.0 0.6 - 2728.4 30 Aviva 514.8 +12.4 552.0 486.5 4.7 14.9 20660.2 181 Greene King 636.8 +17.0 724.5 458.9 5.2 11.3 1973.8 88 Morrison Supermarkets 249.5 +4.8 256.9 204.1 2.2 19.1 5877.9 132 Spectris 2718.0 –127.0 2908.0 2229.0 2.0 13.9 3236.0 108 Babcock International 840.0 –6.8 909.5 626.2 3.4 12.6 4247.0 179 Great Portland Estates 716.5 +6.0 798.7 660.1 1.7 39.4 2018.1 177 National Express 400.0 –1.8 422.2 340.9 3.2 16.4 2046.9 101 Spirax-Sarco 6440.0 –55.0 6495.0 5315.0 1.2 30.1 4736.0 31 BAE Systems 625.0 –14.0 653.8 535.5 3.4 23.4 19917.5 85 GVC Holdings 1035.0 +30.0 1056.0 748.0 1.4 - 5958.7 20 National Grid 834.0 +9.1 1005.0 736.8 5.3 8.1 28039.2 171 Sports Direct International 407.6 –7.2 428.3 290.3 - 14.6 2202.3 180 Balfour Beatty 286.5 –10.7 311.1 253.5 1.0 12.2 1976.1 94 Halma 1387.0 –42.0 1456.0 1075.0 1.0 37.8 5259.3 115 Nex Group 1037.0 +4.0 1041.0 558.0 2.9 35.8 3937.9 39 SSE 1351.0 +1.0 1508.0 1182.0 6.8 10.1 13713.4 18 Barclays 194.0 –0.5 217.0 178.9 1.5 55.4 33107.1 109 Hammerson 533.6 –1.4 595.5 434.4 4.6 10.9 4238.0 54 Next 6010.0 –116.0 6202.0 3617.0 2.6 14.5 8838.1 139 SSP 664.6 +12.8 710.4 488.0 1.3 30.8 3083.3 26 Standard Chartered 711.1 –0.4 849.2 700.8 - 41.3 23443.4 93 Barratt Developments 527.8 –28.4 700.0 517.8 4.6 8.5 5314.9 49 Hargreaves Lansdown 1998.0 –27.0 2088.0 1266.0 1.5 42.3 9476.9 65 NMC Health 3562.0 –6.0 3812.0 2077.0 0.3 53.4 7276.6 125 BBA Aviation 338.0 –1.6 368.8 292.5 1.9 33.5 3487.4 155 Hays 187.5 +2.1 205.0 163.2 1.7 18.1 2719.9 83 St James’s Place Capital 1182.5 –22.0 1270.5 1052.0 3.0 43.2 6250.6 78 Ocado Group 1063.5 +23.5 1111.0 238.7 - 6646.9 6715.3 199 BCA Marketplace 220.0 –3.0 236.0 149.6 3.1 41.5 1716.5 162 HICL Infrastructure 143.0 +2.5 164.7 133.5 5.7 - 2526.9 44 Standard Life Aberdeen 344.0 –3.6 446.3 339.5 5.9 11.6 10242.2 43 Old Mutual 210.9 –4.6 260.9 188.0 3.3 26.7 10403.2 140 Beazley 584.5 –5.5 619.5 450.0 1.7 32.4 3072.8 127 Hikma Pharmaceuticals 1430.0 +39.0 1592.0 855.6 1.7 - 3441.7 193 Synthomer 530.5 –26.0 556.5 460.0 2.2 24.6 1803.1 186 Page Group 581.0 +33.5 581.0 440.6 2.1 22.0 1900.1 119 Bellway 3087.0 –194.0 3792.0 2956.0 4.0 7.8 3790.8 107 Hiscox 1534.0 +39.0 1534.0 1214.0 1.9 170.4 4402.3 144 Tate & Lyle 624.6 –22.8 714.0 526.0 4.5 11.7 2908.7 76 Pearson 866.0 –18.2 924.8 566.5 4.5 17.4 6786.0 95 Berkeley 3819.0 –358.0 4321.0 3184.0 3.6 6.9 5165.8 143 Homeserve 914.5 +20.0 919.5 705.0 1.7 30.8 2983.2 87 Taylor Wimpey 181.1 –5.2 211.2 174.9 2.5 10.7 5933.3 129 Pennon 792.4 +12.8 878.5 583.4 4.7 16.6 3299.9 16 BHP Billiton 1666.2 –3.8 1779.2 1142.0 3.7 25.6 35190.1 128 Howden Joinery 533.4 +4.6 533.4 399.5 2.1 17.9 3357.2 188 Templeton Emerging Markets 704.0 –9.0 825.0 673.0 2.2 - 1866.7 58 Persimmon 2576.0 –111.0 2890.0 2231.0 5.2 10.6 8000.3 111 B&M European 417.0 +2.0 434.8 335.1 1.4 27.2 4170.0 2 HSBC 720.9 –1.9 796.0 662.1 5.0 21.5 144591.0 23 Tesco 261.7 +6.9 261.7 166.6 0.4 21.7 25558.4 183 Petrofac 562.4 +2.6 651.8 397.3 7.5 - 1945.4 187 Bodycote 985.0 –61.0 1052.0 751.0 1.6 19.3 1885.8 133 IG Group 875.0 +8.0 905.0 547.5 3.7 16.6 3219.0 196 Thomas Cook 114.6 +3.0 146.1 88.6 0.5 71.6 1760.1 141 Phoenix Group Holdings 781.5 +4.0 815.0 725.5 6.3 - 3070.2 3 BP 576.6 +11.6 592.8 439.8 4.9 36.7 114920.2 138 IMI 1162.0 –31.0 1443.0 1013.0 3.3 21.7 3161.1 166 TP Icap 411.3 –14.9 553.6 401.5 1.4 26.5 2317.0 165 Playtech 773.2 +6.2 1016.0 725.0 3.9 11.7 2453.7 4 British American Tobacco 3911.0 +217.0 5485.0 3635.0 5.6 2.1 89704.2 22 Imperial Brands 2728.0 +102.0 3597.5 2325.0 6.3 21.3 26017.9 124 Travis Perkins 1419.0 –31.5 1609.0 1216.0 3.2 15.4 3577.7 197 Polar Capital Technology Trust 1288.0 –14.0 1328.0 953.5 - - 1731.7 77 British Land 687.6 –3.4 697.0 590.5 4.3 14.2 6758.6 137 Inchcape 763.5 +4.0 880.5 670.0 3.2 11.9 3184.3 45 Tui 1732.0 –10.5 1810.5 1109.0 3.3 14.0 10173.5 151 Polymetal International 665.4 +3.6 956.0 591.0 3.5 11.1 2862.0 176 Britvic 780.0 +6.0 825.0 661.5 3.4 19.4 2056.5 156 Indivior 366.2 +5.7 496.2 267.6 - 57.1 2656.6 130 Tullow Oil 236.7 +8.7 276.0 145.6 - - 3285.4 70 Paddy Power Betfair 8355.0 +65.0 9110.0 6665.0 2.1 32.7 7070.0 29 BT 218.8 +8.4 317.0 202.9 7.0 10.7 21704.2 75 Informa 825.0 –4.2 835.2 658.0 2.4 21.9 6798.0 174 UDG Healthcare 838.0 –40.0 959.0 742.0 1.1 70.1 2081.0 175 BTG 538.5 +18.5 779.0 520.0 - 28.3 2077.2 153 Inmarsat 606.0 +79.4 788.0 336.4 6.5 16.0 2763.6 12 Prudential 1814.0 –23.5 1981.0 1716.5 2.5 19.5 46933.3 10 Unilever 4133.5 +67.0 4548.5 3695.0 3.0 21.7 50915.1 60 Bunzl 2296.0 –34.0 2350.0 1936.0 1.9 24.6 7713.0 51 Intercontinental Hotels 4829.0 –92.0 4966.0 3668.0 - 21.4 9174.6 92 Randgold Resources 5722.0 +12.0 8190.0 5572.0 2.6 28.8 5402.4 170 Unite Group 845.5 –11.0 868.0 637.0 2.3 9.0 2224.1 48 Burberry 2162.0 +12.0 2177.0 1498.0 1.8 31.6 9477.8 134 Intermediate Capital 1108.0 –32.0 1203.0 821.0 2.3 14.9 3216.6 14 Reckitt Benckiser 6317.0 +157.0 7960.0 5443.0 2.6 13.3 44484.6 96 United Utilities 750.6 –12.2 934.5 656.0 5.2 12.0 5118.3 164 Capital & Counties Properties 294.2 –2.3 319.9 253.1 0.5 - 2497.9 52 Intertek 5682.0 –104.0 5830.0 4174.0 1.2 32.2 9170.2 178 Redrow 553.0 –40.5 664.5 542.0 3.1 7.0 2045.0 191 Vedanta Resources 661.0 –31.6 954.0 589.5 6.2 - 1831.6 47 Carnival 4743.0 –46.0 5380.0 4468.0 2.6 17.9 9858.1 38 International Airlines Group 726.6 +13.0 726.6 578.0 3.0 6.4 14889.0 17 Relx 1633.0 +7.5 1782.0 1429.5 2.3 20.0 33798.9 163 Victrex 2942.0 –118.0 3108.0 1855.0 1.8 21.9 2524.5 55 Centrica 158.0 +5.8 209.0 124.1 7.6 26.3 8678.7 184 International Public Partnerships 141.8 +0.4 166.6 138.2 4.8 17.0 1914.0 120 Renishaw 5190.0 –295.0 5775.0 3545.0 1.0 27.5 3777.7 11 Vodafone 187.3 +2.5 238.0 184.4 7.0 13.5 49954.7 123 Cineworld 265.2 +17.8 670.5 97.9 3.3 36.8 3632.3 160 Intu Properties 191.9 –3.1 278.5 190.1 7.3 12.8 2599.6 81 Rentokil Initial 355.1 +4.9 355.1 258.7 1.0 9.6 6524.4 104 Weir 2008.0 –14.0 2325.0 1731.0 2.2 27.5 4507.5 169 Close Brothers 1493.0 +9.0 1606.0 1316.0 4.0 11.4 2260.7 122 Investec 548.2 –4.6 648.6 461.4 4.2 11.4 3654.5 98 Rightmove 5324.0 +156.0 5324.0 3889.0 1.0 34.3 4844.3 63 Whitbread 4059.0 –55.0 4331.0 3512.0 2.4 17.0 7444.0 135 Cobham 129.9 +5.5 148.0 113.4 - 37.1 3203.4 69 ITV 176.6 +6.8 182.9 142.4 4.1 17.3 7108.9 8 Rio Tinto 4182.0 –37.5 4492.0 3052.5 4.1 11.6 56089.7 158 William Hill 306.0 +1.3 338.0 240.0 4.1 - 2628.2 50 Coca Cola HBC 2535.0 –118.0 2707.0 2199.0 1.5 24.6 9325.5 148 IWG 316.5 +4.0 343.0 190.9 1.7 25.7 2881.6 136 RIT Capital Partners 2065.0 +5.0 2070.0 1844.0 - - 3188.6 182 Witan Investment Trust 1098.0 –6.0 1116.0 995.0 2.1 - 1958.7 21 Compass 1622.0 +7.5 1741.0 1425.0 2.1 22.7 26675.2 146 Jardine Lloyd Thompson 1318.0 +30.0 1448.0 1144.0 2.5 24.1 2886.9 32 Rolls-Royce 940.2 –9.8 981.0 814.0 0.5 4.1 17486.2 172 Wizz Air Holdings 3781.0 +134.0 3781.0 2320.0 - 19.8 2173.2 105 Convatec 226.2 +8.6 335.4 182.0 0.4 38.2 4414.2 112 JD Sports 426.3 +10.2 428.1 303.3 0.4 17.9 4148.9 145 Rotork 332.8 +0.5 356.6 223.5 1.6 52.0 2896.9 106 Wood 651.2 +34.0 736.5 521.4 3.8 - 4413.3 27 CRH 2727.0 –85.0 2861.0 2338.0 2.1 14.4 22805.5 67 Johnson Matthey 3690.0 –72.0 3823.0 2727.0 2.0 18.8 7141.4 19 Royal Bank Of Scotland 261.5 +7.0 302.4 241.2 - 24.4 31291.1 192 Workspace 1112.0 –39.0 1165.0 855.0 1.9 8.9 1814.8 82 Croda 4812.0 –112.0 4961.0 3675.0 1.6 26.9 6334.7 173 Jupiter Fund Management 456.4 –9.2 631.4 445.0 3.7 13.5 2088.9 1 Royal Dutch Shell A 2609.0 +87.5 2748.5 2035.0 5.2 20.0 221348.3 35 WPP 1220.5 +21.5 1659.0 1094.0 4.9 8.6 15452.9 152 CYBG 321.0 +14.8 340.3 267.2 0.3 60.6 2839.6 89 Just Eat 824.4 +34.4 890.0 601.0 - - 5606.3 Royal Dutch Shell B 2707.5 +82.0 2841.0 2056.0 5.0 20.8 84 DCC 6875.0 –30.0 7755.0 6475.0 1.7 26.6 6132.6 117 Kaz Minerals 861.4 –42.2 1076.0 470.8 - 11.6 3849.2 97 Royal Mail 503.8 +1.4 631.0 369.9 4.6 19.6 5038.0 Price/earnings ratios are based on historic data, with yield and p/e values 147 Dechra Pharmaceuticals 2822.0 +90.0 2858.0 1647.0 0.8 61.4 2886.3 80 Kingfisher 302.7 –5.6 362.5 278.8 3.5 13.8 6525.7 149 RPC 704.8 +5.0 993.0 648.6 3.4 13.8 2874.9 calculated from the most recent reported dividends and earnings per share, 126 Derwent London 3089.0 +26.0 3235.0 2607.0 1.8 11.0 3443.5 61 Land Securities 952.5 –7.5 1100.8 906.8 4.4 41.3 7531.9 71 RSA Insurance 681.8 +29.8 681.8 593.5 2.6 26.1 6972.1 using trailing 12-month figures. 52-week highs and lows are end of day. 6 Diageo 2747.0 –38.5 2785.5 2247.5 2.3 21.6 68264.2 34 Legal & General 269.5 +4.5 286.2 249.5 5.4 8.9 16058.6 74 Sage 632.0 –29.2 821.4 598.4 2.4 26.6 6831.1 nc = no change Data provided by Morningstar. Any enquiries please contact: 100 Direct Line Insurance 348.3 –0.9 411.3 343.5 4.7 11.1 4789.1 13 Lloyds Banking Group 62.1 +0.0 72.1 61.4 1.6 13.1 44770.0 72 Sainsbury, J 317.5 +7.1 319.2 224.8 3.1 25.0 6952.2 [email protected]