Associated British Foods
The food and clothing conglomerate’s reported returns look solid, but problems linger. Margins are under pressure at Primark, and the removal of European quotas in 2017 could affect sugar prices. Sell. £26.38.
The Mail on Sunday Despite strong bicycle sales, weak sterling has hit Halfords’ profits. Liberum believes the retailer is a “good business” but finds the share price unjustifiable given that there is no profit growth. Sell. 317.1p. The publishing and events firm’s core exhibitions business is performing well. Shares are up sharply since the completion of the £1.2bn purchase of Penton Information Services: take profits. Sell. 679.5p.
Investors Chronicle This gene therapy biotech is a “notorious cash guzzler”, with hefty debt levels. After two decades of operation, it still hasn’t commercialised its potential, and clinical trials remain in very early stages. Sell. 3.8p.