…and some to hold, avoid or sell

Antofagasta

The Times

Shares in the copper miner have fallen due to increasing climate-driven costs and political risk in Chile. But rebounding copper prices and increasing demand should keep them close to two-year highs. Hold. £10.85.

Hargreaves Lansdown

The Times

Britain’s biggest investment platform has been a “clear winner” from Covid, with clients (especially younger ones) bringing in £7.7bn of net new business. But despite robust growth, regulatory risks are rising. Hold. £17.51.

Marks & Spencer Group

Investors Chronicle

M&S is making extensive job cuts as weak clothing and home sales offset progress in its food business. Online sales are up 39%, but store sales are down 48%, and it has increased discounting activity. Sell. 110p.

National Express Group

Investors Chronicle

The transport operator racked up £63.5m in virus-related costs during lockdown as passenger numbers slumped by 80%. Revenues are not expected to fully recover, and the pension deficit has ballooned. Sell. 155p.

Spirent

The Daily Telegraph

The telecoms equipment testing specialist is a key supplier in a major multi-year upgrade cycle for mobile phone networks. Although the valuation is punchy, profits have soared and the dividend is rising. Hold. 293p.

Superdry

The Sunday Times

The pandemic has trampled on any green shoots of recovery since founder Julian Dunkerton’s return to the clothing brand. Despite a £57.8m cash pile, losses could prove off-putting to activist investors. Avoid. 135p.