TRADER TIPS

What City insiders are recommending . . .

BUY THIS: Laura Ashley

Cantor Fi t z gerald has reduced its pre-tax profit forecast for High Street retailer Laura Ashley by 30pc but it is keeping its ‘buy’ rating.

Its analysts said a weaker pound and rising wage costs meant profits for the year were likely to be around £11m, but that the brand still had significant potential for further expansion overseas and to develop its online channel, especially in China.

SELL THIS: CYBG

Panmure Gordon last week gave an overview of the challenger banks, and while it was positive on some, including Shawbrook and Virgin Money, it has slapped a ‘sell’ rating on Clydesdale.

Panmure said the upstart bank reminded it too much of the low growth, low returns and consistent restructuring costs seen at large banks. In January CYBG said it was on track to meet full-year expectations.