While Warren Buffett has long extolled the virtues of value investing there is another breed of investor that takes the opposite approach – short sellers. Looking at companies they suspect are overvalued, short sellers borrow shares – typically from an institutional shareholder – sell them at the prevailing price, and then hope to repurchase them at a lower price to return to the lender. Pocketing the difference, it can be a highly lucrative strategy – famed short seller Jim Chanos made around $500m (£378m) for his hedge fund Kynikos by shorting Enron.
But as growth stocks have continued to outperform, short selling has become an increasingly risky business – something the Tesla (US:TSLA) bears can no doubt attest to. As its shares rise faster than a SpaceX rocket, Tesla short sellers are currently sitting on paper losses of more than $20bn so far this year. Ironically, as they purchase shares to cover their losses, they are helping to send the price even higher in a so-called ‘short squeeze’.
Even Muddy Waters founder Carson Block isn’t willing to bet against Elon Musk, despite being sceptical of the company’s long-term prospects. “I’m not short the stock, thank God,” he told Bloomberg’s Odd Lots podcast in July. “Short it at your own risk. I wouldn’t do that.”
Still, Tesla remains the most shorted US equity. It’s not necessarily a refusal to admit defeat that is driving the cynics, rather the belief that, in the end, they will be proved correct. The Wirecard (DE:WDI) scandal is a prime example of short sellers sticking it out and ultimately being vindicated.
Short sellers have been much maligned, accused of profiting off of others’ misfortune or manipulating markets for their own gain. But arguably they are essential for a well-functioning market. Sure, their motives aren’t entirely selfless, but they bring a healthy dose of scepticism in a landscape littered with hype and over optimism. If it weren’t for the forensic detail of short seller reports, it might be hard to believe that the same accounts signed off by auditors and played up by bullish equity analysts could be exposed as smoke and mirrors.
As the S&P 500 continues its march upwards – recently hitting an all-time high – the short sellers aren’t deterred by the euphoria. “This market is setting up to be one of the great short opportunities of all time”, said Mr Chanos in an interview with the Financial Times last month. “Trouble’s coming, I don’t know when, but it’s coming.”
While you may not opt to pursue a short selling strategy yourself, it can be instructive to examine what short sellers are targeting and where your portfolio may be at risk. Looking down the ideas farm, you may have noted that retail landlord Hammerson (HMSO) has been a regular presence on the list of London’s most shorted stocks, holding the number one spot for the past 10 weeks. For the latest on the company, see this week’s directors’ deals.
Meanwhile, we note in the tips section that short interest in housebuilder Crest Nicholson (CRST) is also rising. As a downturn in house prices looms, weak operating profit margins leave it more vulnerable than peers such as Redrow (RDW) and Bellway (BWY).
That contrasts market research specialist YouGov (YOU) whose focus on data products and custom analysis is bolstering margins and return on capital employed (ROCE), making for an attractive growth play. Industrial gases giant Linde (DE:LIN) is also hoping to eke out margin improvements by finding further savings from its 2018 merger with Praxair. Offering defensive qualities, it is a favourite pick among fund managers. Rounding things off, Aim-listed Advanced Medical Solutions (AMS) could make for a speculative punt. Its proprietary technologies and investment in research and development are enabling a competitive edge and it will likely benefit from a post-pandemic recovery in routine healthcare procedures.
Fund manager best ideas: UK SMALL CAP | |
19/08/2020 | No. Funds |
Future PLC | 7 (-1) |
Games Workshop Group PLC | 7 (+1) |
Gamma Communications PLC | 4 |
YouGov PLC | 4 (+1) |
Breedon Group PLC | 3 (+1) |
CVS Group PLC | 3 (+1) |
AFH Financial Group PLC | 2 (NEW) |
Alliance Pharma PLC | 2 |
Clinigen Group PLC | 2 (-2) |
CLS Holdings PLC | 2 |
Codemasters Group Holdings PLC | 2 |
Cranswick PLC | 2 |
discoverIE Group PLC | 2 (+1) |
dotDigital Group PLC | 2 |
EKF Diagnostics Holdings PLC | 2 |
IMImobile PLC | 2 |
Impax Asset Management Group PLC | 2 |
IntegraFin Holdings PLC | 2 |
Intermediate Capital Group PLC | 2 (NEW) |
JTC PLC Ordinary Shares | 2 |
Knights Group Holdings PLC | 2 |
Liontrust Asset Management PLC | 2 |
Onesavings Bank PLC | 2 (-1) |
S4 Capital PLC | 2 |
4imprint Group PLC | 1 (-1) |
AB Dynamics PLC | 1 |
Amazon.com Inc | 1 |
ASOS PLC | 1 (NEW) |
Avon Rubber PLC | 1 |
Belvoir Group PLC | 1 (NEW) |
Blue Prism Group PLC | 1 |
Boohoo Group PLC | 1 |
Cello Health PLC | 1 (NEW) |
Centamin PLC | 1 |
Chemring Group PLC | 1 |
Churchill China PLC | 1 |
Computacenter PLC | 1 |
Costain Group PLC | 1 |
Dewhurst PLC Class A Non Voting | 1 |
Diploma PLC | 1 |
Eckoh PLC | 1 |
Ergomed PLC | 1 |
Experian PLC | 1 (NEW) |
Frontier IP Group PLC | 1 |
GetBusy PLC | 1 (NEW) |
GlobalData PLC | 1 |
Gresham Technologies PLC | 1 (NEW) |
Hasgrove PLC | 1 |
Hilton Food Group PLC | 1 |
Inspired Energy PLC | 1 (NEW) |
Intercede Group PLC | 1 (NEW) |
IQGeo Group PLC | 1 |
John Laing Group PLC | 1 |
Jubilee Metals Group PLC | 1 |
Judges Scientific PLC | 1 (NEW) |
London Stock Exchange Group PLC | 1 |
LoopUp Group PLC | 1 (NEW) |
MaxCyte Inc | 1 (NEW) |
Netcall PLC | 1 (NEW) |
On The Beach Group PLC | 1 |
Pan African Resources PLC | 1 (NEW) |
Pets at Home Group PLC | 1 (NEW) |
Premier Foods PLC | 1 (NEW) |
Prudential PLC | 1 |
RockRose Energy PLC | 1 |
RWS Holdings PLC | 1 |
SDL PLC | 1 (-1) |
Serco Group PLC | 1 |
SimplyBiz Group (The) PLC | 1 |
Smart Metering Systems PLC | 1 |
Speedy Hire PLC | 1 (NEW) |
Spirent Communications PLC | 1 (NEW) |
Strix Group PLC | 1 |
Sumo Group PLC | 1 |
Tatton Asset Management PLC | 1 |
Team17 Group PLC | 1 (-1) |
Tesco PLC | 1 |
Totally PLC | 1 |
Treatt PLC | 1 (-1) |
Ultra Electronics Holdings PLC | 1 |
Venture Life Group PLC | 1 |
Volution Group PLC | 1 (NEW) |
Watches of Switzerland Group PLC | 1 (NEW) |
XP Power Ltd | 1 (NEW) |
XPS Pensions Group PLC | 1 |
Source: Morningstar, based on top 5 holdings
New 52-week highs | |||
Name | TIDM | Price | % from hi |
Treatt | TET | 580p | 0.0% |
ASOS | ASC | 5,054p | 0.4% |
Antofagasta | ANTO | 1,133p | 0.8% |
Croda International | CRDA | 6,014p | 0.9% |
Ocado Group | OCDO | 2,398p | 1.0% |
Capital Gearing Trust Plc | CGT | 4,470p | 1.1% |
Herald Investment Trust | HRI | 1,720p | 1.1% |
YouGov | YOU | 860p | 1.1% |
SDCL Energy Efficiency | SEIT | 112p | 1.3% |
Schroder Asian Total | ATR | 397p | 1.4% |
Impax Environmental Mkts | IEM | 356p | 1.5% |
Kingfisher | KGF | 276p | 1.5% |
Hastings Group Holdings | HSTG | 252p | 1.6% |
Byotrol | BYOT | 9p | 1.6% |
Hipgnosis Songs | SONG | 122p | 1.6% |
JPMorgan Japanese Invt | JFJ | 544p | 1.6% |
Fidelity Japan Trust | FJV | 182p | 1.8% |
First Derivatives | FDP | 3,060p | 1.8% |
Studio Retail Group | STU | 245p | 1.8% |
BBGI | BBGI | 169p | 1.9% |
B&M European Value Retail | BME | 489p | 2.0% |
Plus500 | PLUS | 1,541p | 2.0% |
Admiral Group | ADM | 2,698p | 2.2% |
Montanaro Europn Small Tr | MTE | 1,345p | 2.2% |
Fidelity China Special | FCSS | 312p | 2.2% |
Flutter Entertainment | FLTR | 12,100p | 2.2% |
RWS | RWS | 745p | 2.2% |
Gore Street Energy | GSF | 107p | 2.3% |
Polymetal International | POLY | 2,011p | 2.3% |
LSE Group | LSE | 8,678p | 2.3% |
Baillie Gifford Shin | BGS | 193p | 2.4% |
Just Eat Takeaway.com | JET | 9,062p | 2.4% |
CQS Natural Resources | CYN | 95p | 2.5% |
IntegraFin Holdings | IHP | 554p | 2.5% |
JP Morgan Emerging Mkts | JMG | 1,062p | 2.6% |
Frontier Developments | FDEV | 2,080p | 2.6% |
Octopus Renewables Infra | ORIT | 113p | 2.6% |
Bunzl | BNZL | 2,400p | 2.6% |
HomeServe | HSV | 1,334p | 2.7% |
Scottish American Invt | SAIN | 431p | 2.7% |
JP Morgan European Small | JESC | 394p | 2.8% |
Electrocomponents | ECM | 711p | 2.8% |
Anpario | ANP | 410p | 2.8% |
Impax Asset Management Gp | IPX | 461p | 2.9% |
Distil | DIS | 1p | 2.9% |
Sterling Energy | SEY | 12p | 2.9% |
Bankers Invt Trust | BNKR | 1,012p | 2.9% |
Mobius Investment Trust | MMIT | 96p | 2.9% |
XP Power | XPP | 4,500p | 2.9% |
Source: FactSet (19 August 20)
New 52-week lows | |||
Name | TIDM | Price | % from lo |
STV Group | STVG | 210p | 0.0% |
Capital & Counties Props | CAPC | 125p | 0.0% |
Reach | RCH | 53p | 0.6% |
TOC Property Backed Lndng | PBLT | 86p | 2.9% |
Source: FactSet (19 August 20)
Shorts | |||
Company | Short Interest | No. Shorters | 1wk chg in short interest |
HAMMERSON PLC | 14.3% | 11 | -0.1% |
CINEWORLD GROUP | 9.3% | 9 | 0.6% |
METRO BANK PLC | 9.1% | 5 | -0.2% |
PREMIER OIL PLC | 8.2% | 2 | -0.5% |
SAINSBURY (J) PLC | 7.8% | 7 | 0.8% |
Royal Mail Plc | 7.7% | 6 | -1.9% |
PEARSON PLC | 6.3% | 5 | 0.1% |
PETROPAVLOVSK PLC | 5.6% | 2 | 1.0% |
DOMINO'S PIZZA GROUP PLC | 5.5% | 7 | -0.1% |
PETROFAC LTD | 5.4% | 4 | -0.1% |
BLUE PRISM GROUP PLC | 5.0% | 5 | 0.0% |
BABCOCK INTL GROUP PLC | 5.0% | 3 | 0.0% |
PETS AT HOME GROUP PLC | 4.9% | 2 | 0.0% |
TUI AG | 4.9% | 6 | 0.4% |
IQE PLC | 4.7% | 3 | 0.0% |
FUTURE PLC | 4.6% | 3 | 0.0% |
WEIR GROUP PLC/THE | 4.4% | 5 | 0.0% |
VODAFONE GROUP PLC | 4.0% | 4 | 0.0% |
WM MORRISON SUPERMARKETS | 3.9% | 4 | 0.0% |
CRODA INTERNATIONAL PLC | 3.9% | 4 | 0.0% |
MICRO FOCUS INTERNATIONAL | 3.7% | 3 | 0.1% |
CAPITA PLC | 3.6% | 4 | 0.2% |
GVC Holdings Plc | 3.6% | 5 | 0.0% |
ASHMORE GROUP PLC | 3.5% | 4 | 0.0% |
WOOD GROUP (JOHN) PLC | 3.5% | 6 | 0.0% |
KEYWORDS STUDIOS PLC | 3.3% | 4 | -0.2% |
MARKS & SPENCER GROUP PLC | 3.2% | 2 | 0.0% |
HURRICANE ENERGY PLC | 3.1% | 3 | 0.0% |
Primary Health Properties PLC | 3.1% | 4 | 0.0% |
INTERCONTINENTAL HOTELS GROUP PLC | 3.0% | 2 | -0.4% |
SMITH (DAVID S) HOLDINGS PLC | 3.0% | 4 | 0.0% |
ULTRA ELECTRONICS HLDGS PLC | 3.0% | 1 | 0.0% |
N. Brown Group | 3.0% | 2 | 0.7% |
VICTREX PLC | 2.9% | 3 | 0.0% |
RESTAURANT GROUP PLC | 2.9% | 3 | 0.0% |
ASCENTIAL PLC | 2.8% | 3 | -1.2% |
VALARIS PLC | 2.8% | 1 | 0.0% |
AUTO TRADER GROUP PLC | 2.6% | 4 | 0.0% |
HISCOX LTD | 2.5% | 2 | 0.0% |
AGGREKO PLC | 2.5% | 3 | -0.5% |
ITV PLC | 2.5% | 3 | NEW |
VITEC GROUP PLC (THE) | 2.4% | 2 | 0.0% |
MARSTON'S PLC | 2.3% | 2 | NEW |
B&M EUROPEAN VALUE RETAIL S.A. | 2.3% | 3 | 0.0% |
Source: FCA, as at 19/08/2020
1-month EPS upgrades | ||||
FWD EPS CHG | ||||
Name | TIDM | 1mth | 3mth | 1yr |
IGas Energy | IGAS | 280.0% | -18.8% | -70% |
ASOS | ASC | 207.5% | - | 220% |
Beazley | BEZ | 147.7% | 122.3% | -80% |
Belvoir Group | BLV | 141.0% | 141.0% | 18% |
Barclays | BARC | 132.7% | 20.4% | -79% |
Atalaya Mining | ATYM | 77.4% | 137.0% | -12% |
Sylvania Platinum | SLP | 70.7% | 27.5% | 138% |
Wincanton | WIN | 64.5% | -40.4% | -40% |
Renishaw | RSW | 63.6% | 74.3% | -36% |
TI Fluid Systems | TIFS | 62.9% | 86.0% | -86% |
Hochschild Mining | HOC | 62.3% | -0.9% | -18% |
CVS Group | CVSG | 57.6% | 21.4% | -14% |
Next | NXT | 53.2% | 29.8% | -62% |
LSL Property Services | LSL | 49.0% | 0.9% | -21% |
Hollywood Bowl Group | BOWL | 44.7% | -6.1% | -75% |
3i Group Plc | III | 40.4% | 70.0% | -13% |
Panoply Holdings | TPX | 38.5% | 38.5% | 2% |
Blancco Technology Group | BLTG | 37.9% | 20.8% | 31% |
Kainos Group | KNOS | 37.1% | 26.4% | 26% |
Redcentric | RCN | 32.7% | 32.7% | 44% |
Gear4music Holdings | G4M | 31.6% | 241.8% | 436% |
Centrica | CNA | 29.2% | -7.4% | -39% |
Breedon Grp | BREE | 28.8% | -42.9% | -51% |
Phoenix Group Holdings | PHNX | 27.8% | 14.2% | 22% |
Knight Group Holdings | KGH | 27.8% | 15.8% | 15% |
Hargreaves Services | HSP | 25.3% | 25.3% | 40% |
Royal Dutch Shell | RDSB | 24.6% | 4.8% | -78% |
Royal Dutch Shell | RDSA | 23.0% | 4.6% | -78% |
Keller Group | KLR | 22.6% | 14.5% | -14% |
Ferrexpo | FXPO | 22.5% | 43.3% | -43% |
Tyman | TYMN | 22.2% | -6.4% | -31% |
IP Group | IPO | 20.2% | 264.5% | -64% |
Kingfisher | KGF | 19.3% | -0.3% | -8% |
Ideagen | IDEA | 16.8% | 19.7% | 6% |
Yellow Cake | YCA | 15.5% | 3586.6% | 5480% |
SDL | SDL | 14.7% | 14.7% | -15% |
Luceco Plc | LUCE | 14.5% | 202.5% | 35% |
AA | AA | 14.4% | 8.8% | -11% |
Fresnillo | FRES | 13.6% | 43.6% | 53% |
Antofagasta | ANTO | 13.4% | 133.2% | -45% |
Robinson | RBN | 13.4% | 13.4% | - |
IMI | IMI | 13.0% | 9.7% | -8% |
BATM Advanced Comm | BVC | 12.7% | 90.0% | 77% |
Admiral Group | ADM | 12.5% | 12.0% | 17% |
Ergomed | ERGO | 12.3% | 14.6% | 102% |
B&M European Value Retail | BME | 12.1% | 51.2% | 47% |
G4S | GFS | 12.0% | 23.2% | -32% |
GVC Holdings | GVC | 11.9% | 22.0% | -15% |
Standard Chartered | STAN | 11.5% | -21.6% | -57% |
Playtech | PTEC | 11.0% | 12.5% | -61% |
CLS Holdings | CLI | 10.8% | 10.9% | -18% |
Just Grp | JUST | 10.3% | 14.3% | 20% |
Tribal Group | TRB | 10.0% | 10.0% | -7% |
TalkTalk Telecom Group | TALK | 10.0% | 11.7% | -3% |
Codemasters Group Holdings | CDM | 9.9% | 46.1% | 33% |
Marks & Spencer Group | MKS | 9.7% | -54.6% | -62% |
EVRAZ | EVR | 9.6% | 0.8% | -58% |
Watches of Switzerland Group | WOSG | 9.1% | 16.1% | -16% |
ContourGlobal Plc | GLO | 8.7% | 23.0% | -13% |
Computacenter | CCC | 7.9% | 11.6% | 15% |
Capital & Regional | CAL | 7.7% | -10.6% | -62% |
Pets At Home | PETS | 7.5% | -26.6% | -19% |
Empiric Student | ESP | 7.5% | -13.8% | -44% |
Vectura Group | VEC | 7.3% | 1.3% | 22% |
Compass Group | CPG | 7.1% | -34.8% | -73% |
CMC Markets | CMCX | 7.1% | 14.7% | 350% |
Persimmon | PSN | 6.9% | 7.9% | -27% |
Smurfit Kappa Group | SKG | 6.8% | 6.7% | -26% |
Shield Therapeutics | STX | 6.6% | - | - |
RHI Magnesita | RHIM | 6.5% | 8.8% | -46% |
Gamesys Group | GYS | 6.5% | 6.5% | 31% |
Hays | HAS | 6.4% | 16.9% | -60% |
discoverIE Group | DSCV | 6.2% | -17.2% | -22% |
Weir Group | WEIR | 6.0% | 6.0% | -30% |
4Imprint Group | FOUR | 6.0% | -71.2% | -87% |
Mondi | MNDI | 5.9% | 2.0% | -33% |
Schroders | SDR | 5.7% | 12.1% | -10% |
Mortgage Advice Bureau | MAB1 | 5.6% | 5.6% | -32% |
Begbies Traynor Group | BEG | 5.6% | 5.7% | 9% |
EKF Diagnostics | EKF | 5.3% | 78.5% | 131% |
Cranswick | CWK | 5.3% | 15.8% | 28% |
Impax Asset Management Gp | IPX | 5.2% | 13.1% | 29% |
Rotork | ROR | 5.2% | 4.9% | -15% |
Liontrust Asset Mgmt | LIO | 5.0% | 15.4% | 16% |
Draper Esprit | GROW | 4.9% | 85.1% | -16% |
Gateley Holdings | GTLY | 4.6% | 0.1% | -2% |
Applegreen | APGN | 4.5% | 4.5% | 20% |
Rentokil Initial | RTO | 4.5% | 7.9% | -11% |
Sage Group | SGE | 4.5% | 3.7% | -10% |
AG BARR | BAG | 4.4% | -4.7% | -24% |
Rathbone Brothers | RAT | 4.4% | 12.5% | -21% |
Euromoney Instl Investor | ERM | 4.2% | 3.8% | -51% |
CRH | CRH | 4.1% | 9.7% | -25% |
Serco | SRP | 4.1% | 17.1% | 27% |
Iofina | IOF | 3.9% | - | 51% |
Flutter Entertainment | FLTR | 3.9% | 13.1% | 25% |
Tate & Lyle | TATE | 3.7% | -10.1% | -6% |
Volution Group | FAN | 3.5% | -3.9% | -27% |
Alliance Pharma | APH | 3.3% | -0.7% | -4% |
Chesnara | CSN | 3.3% | 6.7% | -15% |
Polymetal International | POLY | 3.1% | 5.7% | 58% |
Brewin Dolphin | BRW | 3.1% | 8.1% | -6% |
Source: FactSet, as at 19 August 2020
1-month EPS downgrades
FWD EPS CHG | ||||
Name | TIDM | 1mth | 3mth | 1yr |
Syncona | SYNC | -99.8% | - | -100% |
Melrose Industries | MRO | -92.2% | -95.3% | -98% |
Stagecoach Group | SGC | -83.4% | -83.2% | -86% |
Hunting | HTG | -76.2% | -99.6% | -100% |
Gem Diamonds | GEMD | -76.0% | -81.5% | -94% |
ScS Group | SCS | -72.0% | -20.2% | -86% |
Victoria | VCP | -65.7% | -68.2% | -73% |
Appreciate Group | APP | -58.0% | -58.0% | -59% |
Mears Group | MER | -57.7% | -66.0% | -69% |
H&T Group | HAT | -57.3% | -57.5% | -40% |
Ascential | ASCL | -52.5% | -60.8% | -88% |
Bigblu Broadband | BBB | -52.3% | -52.3% | 2% |
IG Design Group | IGR | -50.4% | -50.4% | -53% |
Shearwater Group | SWG | -45.1% | -34.8% | -33% |
Vitec Group | VTC | -41.1% | -78.7% | -91% |
PageGroup | PAGE | -39.4% | -72.3% | -94% |
U & I Group | UAI | -38.0% | - | -81% |
Balfour Beatty | BBY | -37.6% | -57.9% | -64% |
Kenmare Resources | KMR | -37.4% | -66.6% | -81% |
RPS Group | RPS | -36.7% | -28.4% | -57% |
Frenkel Topping Group | FEN | -35.7% | -35.7% | -31% |
Franchise Brands | FRAN | -34.3% | -34.3% | - |
Robert Walters | RWA | -34.1% | -21.6% | -88% |
Coats Group | COA | -33.9% | -58.8% | -81% |
Keystone Law Group | KEYS | -33.4% | -41.7% | -57% |
Trifast | TRI | -31.6% | -31.6% | -51% |
St Modwen Properties | SMP | -30.1% | -33.9% | -44% |
Serica Energy | SQZ | -30.1% | -34.1% | -80% |
MITIE Group | MTO | -30.0% | -60.1% | -64% |
InterContinental Hotels Group | IHG | -27.7% | -59.5% | -83% |
Picton Property Income | PCTN | -27.7% | -19.0% | -21% |
Taylor Wimpey | TW | -26.2% | -49.7% | -66% |
Countryside Properties | CSP | -26.0% | -50.7% | -61% |
Inchcape | INCH | -25.3% | -63.3% | -69% |
Signature Aviation | SIG | -25.0% | -27.6% | -73% |
Serabi Gold | SRB | -23.6% | -23.5% | 117% |
Midwich Group | MIDW | -23.3% | -23.9% | -28% |
Ricardo | RCDO | -22.6% | -35.5% | -52% |
Wentworth Resources | WEN | -22.4% | -19.7% | -60% |
Advanced Medical Sol Grp | AMS | -22.3% | -46.5% | -55% |
Dialight | DIA | -22.3% | -22.3% | -79% |
Marshalls | MSLH | -21.8% | -36.2% | -49% |
NewRiver REIT | NRR | -20.9% | -60.9% | -54% |
Smart Metering Systems | SMS | -20.7% | -23.2% | -49% |
Lancashire | LRE | -19.8% | -29.3% | -42% |
Bushveld Minerals | BMN | -19.8% | -34.7% | -62% |
Alfa Financial Software | ALFA | -19.5% | -14.4% | -89% |
Anexo Group | ANX | -19.5% | -33.9% | -36% |
IG Group Holdings | IGG | -18.8% | -16.0% | 28% |
SimplyBiz Group | SBIZ | -18.6% | -18.6% | -13% |
Virgin Money UK | VMUK | -17.9% | -35.0% | -85% |
Vivo Energy | VVO | -17.9% | -51.5% | -57% |
Renewi Plc | RWI | -17.2% | -74.1% | -79% |
Ibstock | IBST | -17.1% | -59.5% | -75% |
Bank of Georgia Group | BGEO | -16.8% | -36.3% | -51% |
Instem | INS | -16.3% | 3.0% | -2% |
Investec | INVP | -16.3% | -41.6% | -34% |
Petropavlovsk | POG | -15.9% | 188.2% | - |
Beeks Financial Cloud Grp | BKS | -15.4% | -15.4% | -33% |
Babcock International Group | BAB | -15.1% | -34.0% | -37% |
Aggreko | AGK | -15.1% | -28.9% | -56% |
Tekmar Group Plc | TGP | -15.0% | -15.0% | -52% |
BHP Group | BHP | -14.9% | -13.2% | -18% |
Scapa Group | SCPA | -14.9% | -74.1% | -77% |
Hargreaves Lansdown | HL | -14.0% | -11.6% | -16% |
HSBC Holdings | HSBA | -13.8% | -28.7% | -68% |
Urban&Civic | UANC | -12.9% | 67.3% | -56% |
Elementis | ELM | -12.8% | -18.4% | -56% |
Hammerson | HMSO | -12.7% | -20.5% | -60% |
Greencore Group | GNC | -12.3% | -52.9% | -59% |
Pan African Resources | PAF | -12.1% | -1.6% | 72% |
Gooch & Housego | GHH | -11.9% | -20.0% | -38% |
Petrofac | PFC | -11.8% | -40.6% | -70% |
Abcam | ABC | -11.4% | -20.8% | -47% |
Airtel Africa | AAF | -11.4% | -13.3% | -22% |
James Halstead | JHD | -11.2% | -11.2% | -15% |
K3 Capital Group | K3C | -10.9% | -10.9% | 30% |
Glencore | GLEN | -10.8% | -16.8% | -78% |
Lloyds Banking Group | LLOY | -10.6% | -44.2% | -85% |
Bellway | BWY | -10.2% | -18.5% | -43% |
De La Rue | DLAR | -9.9% | 38.5% | -60% |
Travis Perkins | TPK | -9.4% | -24.2% | -48% |
Just Eat Takeaway.com | JET | -9.4% | 15.3% | - |
SThree | STEM | -9.1% | -17.0% | -60% |
Equiniti Group | EQN | -8.2% | -13.3% | -35% |
Moneysupermarket com Grp | MONY | -8.1% | -22.0% | -24% |
Pelatro | PTRO | -7.9% | - | -87% |
Close Brothers Group | CBG | -7.9% | -32.8% | -48% |
Redde Northgate | REDD | -7.8% | -12.8% | -24% |
Howden Joinery Group | HWDN | -7.4% | -37.4% | -48% |
Polypipe Group | PLP | -7.1% | -54.8% | -62% |
TBC Bank Group | TBCG | -7.1% | -28.5% | -50% |
Workspace Group | WKP | -7.0% | -31.8% | -33% |
Amino Technologies | AMO | -7.0% | -8.4% | -5% |
Hummingbird Resources | HUM | -6.8% | - | -14% |
BT Group | BT.A | -6.3% | -10.0% | -26% |
UDG Healthcare | UDG | -6.2% | -15.7% | -18% |
NWF Group | NWF | -6.2% | -6.2% | 13% |
GlobalData | DATA | -5.9% | 0.6% | 21% |
Pearson Plc | PSON | -5.9% | -12.5% | -50% |
Informa | INF | -5.8% | -31.7% | -64% |
Smith & Nephew | SN | -5.7% | -19.7% | -39% |
OneSavings Bank | OSB | -5.5% | -11.2% | -29% |
Vodafone Group | VOD | -5.4% | -18.3% | -19% |
Micro Focus International | MCRO | -5.3% | -8.1% | -36% |
Legal & General Group | LGEN | -5.3% | -8.7% | -16% |
Craneware Plc | CRW | -5.2% | -10.8% | -14% |
MP Evans Group | MPE | -5.2% | -28.7% | 9% |
Volex | VLX | -5.2% | -19.1% | -15% |
Inspecs Group | SPEC | -5.2% | -10.3% | - |
600 Group | SIXH | -5.2% | -12.6% | -78% |
Trans-Siberian Gold | TSG | -5.2% | - | 45% |
Kape Technologies | KAPE | -5.2% | -8.4% | 89% |
Water Intelligence | WATR | -5.2% | -2.7% | 4% |
BOKU | BOKU | -5.2% | 12.6% | 32% |
Telit Communications | TCM | -5.2% | -7.8% | 156% |
ZOO Digital Group | ZOO | -5.2% | 69.1% | -62% |
Steppe Cement | STCM | -5.2% | -60.9% | -62% |
United Oil & Gas | UOG | -5.0% | - | - |
Restore | RST | -4.8% | -17.7% | -45% |
MJ Hudson Group | MJH | -4.8% | 25.0% | - |
Experian | EXPN | -4.7% | -13.3% | -14% |
Avast | AVST | -4.6% | -7.0% | 1% |
Network International Holdings | NETW | -4.6% | -27.0% | -51% |
Calisen | CLSN | -4.5% | -1.6% | - |
AstraZeneca | AZN | -4.5% | -7.0% | 4% |
M&G | MNG | -4.5% | 4.6% | - |
Drax Group | DRX | -4.5% | 3.1% | 9% |
GoCo Group | GOCO | -4.4% | -6.4% | -1% |
Target Healthcare REIT | THRL | -4.4% | -4.4% | 15% |
Capita | CPI | -4.4% | -28.4% | -54% |
Clarkson | CKN | -4.3% | -5.7% | -15% |
Strix Group | KETL | -4.3% | -3.1% | -4% |
SSE | SSE | -4.3% | -12.1% | -19% |
Costain Group | COST | -4.2% | -40.7% | -72% |
Devro | DVO | -4.2% | -3.7% | -6% |
CentralNic Group | CNIC | -4.1% | 3.1% | 3% |
Hastings Group Holdings | HSTG | -4.1% | -5.5% | -2% |
ConvaTec Group | CTEC | -3.9% | -6.9% | -20% |
Central Asia Metals | CAML | -3.9% | -2.3% | -40% |
Centamin | CEY | -3.6% | -0.9% | 106% |
Frasers Group | FRAS | -3.1% | -27.4% | -32% |
Clinigen Group | CLIN | -3.1% | -8.3% | 19% |
Source: FactSet, as at 19 August 2020