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Howden chief dumps another share stack

The kitchen specialist's chief executive has made nearly £13m in the past 10 months from selling shares

Howden Joinery (HWDN) chief executive Matthew Ingle's offloading of 1.4m shares ahead of a potentially debilitating Brexit vote would normally be enough to set alarm bells ringing. But rather than take this as a sign of bad times to come, investors reacted to the announcement by sending the kitchen specialist's shares up 3 per cent.

IC TIP: Hold at 508p

That response suggests the market is still buzzing from the latest trading update. In the 16 weeks to 16 April 2016, the group's aggressive investment strategy triggered a 9 per cent rise in UK revenue. Talk of "stable" conditions in a time of global economic uncertainty was welcomed by investors.

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