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Prices & Quotes - UK Markets - Smurfit Kappa Group (SKG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 3,214.00p
Change Today:
58.00p
Market Cap:
8,292m
Sector:
General Industrials

FTSE 100 movers: Morrisons slumps; Melrose boosted by broker note

By Michele Maatouk

Date: Tuesday 08 Jan 2019

LONDON (ShareCast) - (Sharecast News) - London's FTSE 100 was up 1.1% to 6,882.80 in afternoon trade on Tuesday, buoyed by optimism over Sino-US trade talks.
Paper and packaging companies DS Smith and Smurfit Kappa were among the risers on the top-flight index as Jefferies said there was an opportunity for a re-rating in the sector as the market is too negative.

Melrose Industries was on the front foot as Bank of America Merrill Lynch maintained its 'buy' rating on the stock in a note on capital goods. It said the valuation was particularly appealing given scope for disposals (Nortek, PowderMet) and expectations are sufficiently conservative on automotive demand development and aerospace turnaround.

Broadcaster ITV gained as Liberum suggested that STV's signing of a five-year partnership with Sky on Monday covering its video on demand services could make a tie-up between ITV and Sky possible.

Ashtead advanced as UBS upped the equipment rental company to 'neutral' from 'sell', lifting the target price to 1,800p from 1,700p as it said fears about a slowdown were priced in.

The bank said that while Ashtead's performance has been significantly ahead of its original 'sell' thesis back in December 2016, the shares have fallen by around 35% since early-cycle data started to deteriorate in August last year.

On the downside, Morrisons - the first of the big four supermarkets to report its Christmas trading - was down in the dumps as wholesale growth over the festive period disappointed investors, despite the grocer beating retail forecasts and notching up its fourth consecutive Christmas of growth.

The shares also took a knock after data from Kantar Worldpanel showed the group was the second-weakest among its rivals. Morrisons saw its growth slow to 0.1%, with its market share dropping to 10.6% from 10.8%.

Analysts at Bernstein said the 0.6% LFL retail growth figure should be "reassuring" against a high comparative growth the year before, slightly up versus consensus of 0.5% and "despite a very cautious UK consumer at the end of 2018".

However, Bernstein also noted that the contribution from wholesale missed consensus by 60 basis points, almost all of which was due to the McColl business being transferred after the deal signed early last year.

Vodafone was weaker after a double-downgrade to 'underperform' by RBC Capital Markets, which slashed its price target to 125p from 260p, pointing to a vulnerable dividend.

"Its underlying markets remain 'challenging' and it has very little financial headroom despite synergies and cost cutting," RBC said.

FTSE 100 - Risers

Smith (DS) (SMDS) 326.00p 6.54%
Melrose Industries (MRO) 176.70p 6.25%
Smurfit Kappa Group (SKG) 2,206.00p 6.06%
Marks & Spencer Group (MKS) 276.20p 5.95%
Next (NXT) 4,840.00p 5.79%
Rolls-Royce Holdings (RR.) 856.00p 5.73%
GVC Holdings (GVC) 726.00p 5.29%
easyJet (EZJ) 1,158.00p 5.27%
ITV (ITV) 132.50p 5.08%
Ashtead Group (AHT) 1,841.50p 5.02%

FTSE 100 - Fallers

BT Group (BT.A) 229.90p -3.38%
Morrison (Wm) Supermarkets (MRW) 212.90p -3.07%
Fresnillo (FRES) 901.40p -1.59%
AstraZeneca (AZN) 5,938.00p -1.12%
Vodafone Group (VOD) 155.72p -1.07%
Smith & Nephew (SN.) 1,409.00p -0.77%
London Stock Exchange Group (LSE) 4,177.00p -0.69%
Severn Trent (SVT) 1,838.00p -0.68%
Unilever (ULVR) 4,091.50p -0.33%
GlaxoSmithKline (GSK) 1,511.00p -0.22%

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SKG Market Data

Currency UK Pounds
Price 3,214.00p
Change Today 58.00p
52 Week High 3,332.00p
52 Week Low 1,944.00p
Volume 781,456
Shares Issued 257.98m
Market Cap 8,292m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SKG Dividends

  Latest Previous
  2nd Interim Interim
Ex-Div 19-Nov-20 13-Aug-20
Paid 11-Dec-20 11-Sep-20
Amount 27.90¢ 80.90¢

Trades for 27-Nov-2020

Time Volume / Share Price
16:37 22,601 @ 3,202.00p
16:35 231 @ 3,214.00p
16:35 231 @ 3,214.00p
16:35 1,718 @ 3,214.00p
16:35 483 @ 3,214.00p

SKG Key Personnel

CEO Tony Smurfit