One of our ambitions with the Ideas Farm is to provide more international ideas for readers. The key way in which we are doing this is by putting an international spin on several of our fund manager “best ideas” lists. This week is a case in point with the “best ideas” representing the three most-overweight positions of 22 top-performing global funds.
Covid-19 has done much to strengthen the argument for investing in overseas shares.
The British economy has been badly hit, with second-quarter GDP down an astronomical 20.4 per cent - albeit better than Office for Budget Responsibility (OBR) forecasts. Meanwhile, the fiscal stimulus being provided to weather the storm and support a recovery is expected to see the UK’s borrowing requirements explode. A joint study by Citi and the Institute of Fiscal Studies (IFS) has modelled that a severe-second-wave scenario would require about £100bn of post-crisis fiscal tightening just to stabalise debt-to-GDP, based on long-term nominal GDP growth of 2.5 per cent.
Given the economic challenge the country faces, few would want to see a government preoccupied with balancing the books right now. But for the UK the question of 'how will we pay for it' still looms large.
This question is made all the more interesting by the ascent of Modern Monetary Theory (MMT) in economic thinking. MMT puts forward a credible argument that currency issuers (countries like the UK that print their own 'fiat' currency and borrow in it) are actually fundamentally wrong to focus on the 'how will we pay for it' question.
Sounds a great for a country in a fiscal pickle. But there's a big catch. The credibility of MMT’s argument hinges on one vital thing; proponents argue fiscal deficits must be curbed if inflation starts to move above target. The issue of inflation really seems the crux of fears about UK-focused investments.
While there seems little immediate reason to worry that government spending will stoke inflation by creating excess demand, an altogether more noxious cause of inflation lurks in the shadows for second-rung currency issuers, which is potential currency debasement (extreme devaluation).
To borrow from the lexicon of marketeers, key to staving off the threat of debasement is a currency’s 'brand value'. For MMT fans, the big considerations for the savers on the other side of a currency issuer’s deficit is not whether the borrowing they’ve financed will be repaid (whatever is needed to repay them can be printed by the issuer at will) but whether the currency is a 'brand' that will stay in fashion. If the currency loses its 'brand' appeal and investors decide to dump the stuff, then there will be an inflation-inducing drop in its buying power, and potentially debasement.
The unfortunate reality is that, as far as currencies go, sterling looks a bit more Primark than Prada at the moment. The crisis has laid bare a number of long-standing economic weaknesses at the same time as Brexit negotiations feed uncertainty.
As any brand manager will tell you, a classic way to support 'brand value' is to limit supply. So too with MMT, which views reining in deficits (taxes up, spending down) as the key policy lever governments should pull when threatened with inflation, such as that caused by noteworthy devaluation.
While economic events often move quickly, at the moment serious pressure for the UK to protect sterling's brand does not feel too near. Yet for our consumption-focused economy, the creeping threat is whether markets allow policy-makers the space needed to finance a recovery.
Under the circumstances, paying more attention to international investment opportunities definitely makes some sense, perhaps especially for investors who believe MMT’s new economic paradigm has arrived.
Click here to view the tables in PDF form
| Fund manager best ideas: GLOBAL | |
| 26/08/2020 | No. Funds |
| Amazon.com Inc | 5 (NEW) |
| Mastercard Inc A | 5 (-1) |
| Microsoft Corp | 5 (+1) |
| Novo Nordisk A/S B | 3 (+2) |
| Accenture PLC Class A | 2 (NEW) |
| Alphabet Inc A | 2 |
| Alphabet Inc Class C | 2 |
| Linde PLC | 2 |
| London Stock Exchange Group PLC | 2 |
| TAL Education Group ADR | 2 (NEW) |
| Adyen NV | 1 |
| Alcon Inc | 1 |
| Apple Inc | 1 |
| Applied Materials Inc | 1 |
| B3 SA - Brasil Bolsa Balcao | 1 (NEW) |
| Baxter International Inc | 1 |
| Becton, Dickinson and Co | 1 |
| Capgemini SE | 1 |
| Charles Schwab Corp | 1 |
| CME Group Inc Class A | 1 |
| Cognizant Technology Solutions Corp A | 1 (NEW) |
| Deutsche Boerse AG | 1 |
| DexCom Inc | 1 |
| Diageo PLC | 1 |
| Edwards Lifesciences Corp | 1 |
| Electronic Arts Inc | 1 |
| Equinix Inc | 1 |
| Fidelity National Information Services Inc | 1 |
| Hong Kong Exchanges and Clearing Ltd | 1 (NEW) |
| Hoya Corp | 1 |
| Illumina Inc | 1 (NEW) |
| Lam Research Corp | 1 |
| Macquarie Group Ltd | 1 |
| Meituan Dianping | 1 |
| NVIDIA Corp | 1 |
| Partners Group Holding AG | 1 |
| Philip Morris International Inc | 1 |
| Ping An Insurance (Group) Co. of China Ltd Class H | 1 |
| Prologis Inc | 1 (NEW) |
| Roche Holding AG Dividend Right Cert. | 1 (NEW) |
| Samsung Electronics Co Ltd | 1 |
| Tencent Holdings Ltd | 1 (-1) |
| Tesla Inc | 1 (NEW) |
| Unilever PLC | 1 |
| Verisk Analytics Inc | 1 |
| Visa Inc Class A | 1 (-1) |
Source: Morningstar, based on 3 most overweight 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, as at 26 August 2020
| New 52-week highs | |||
| 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, as at 26 August 2020
| Shorts | |||
| Company | Short Interest | No. Shorters | 1wk chg in short interest |
| HAMMERSON PLC | 14.0% | 11 | -0.3% |
| CINEWORLD GROUP | 9.3% | 9 | 0.0% |
| METRO BANK PLC | 8.9% | 5 | -0.2% |
| SAINSBURY (J) PLC | 8.2% | 7 | 0.4% |
| PREMIER OIL PLC | 8.2% | 2 | 0.0% |
| Royal Mail Plc | 7.6% | 6 | -0.1% |
| TULLOW OIL PLC | 7.2% | 6 | 0.0% |
| PEARSON PLC | 5.8% | 7 | 1.0% |
| TUI AG | 5.6% | 2 | 0.0% |
| PETROPAVLOVSK PLC | 5.5% | 7 | 0.0% |
| DOMINO'S PIZZA GROUP PLC | 5.4% | 4 | 0.0% |
| PETROFAC LTD | 5.0% | 3 | 0.0% |
| BABCOCK INTL GROUP PLC | 4.9% | 2 | 0.0% |
| PETS AT HOME GROUP PLC | 4.9% | 5 | -0.1% |
| BLUE PRISM GROUP PLC | 4.7% | 6 | 0.3% |
| WEIR GROUP PLC/THE | 4.7% | 3 | 0.0% |
| IQE PLC | 4.4% | 3 | -0.2% |
| FUTURE PLC | 4.3% | 5 | 0.6% |
| CAPITA PLC | 4.0% | 4 | 0.0% |
| VODAFONE GROUP PLC | 3.9% | 4 | 0.0% |
| CRODA INTERNATIONAL PLC | 3.8% | 6 | 0.3% |
| WOOD GROUP (JOHN) PLC | 3.7% | 3 | 0.0% |
| MICRO FOCUS INTERNATIONAL | 3.5% | 3 | -0.3% |
| WM MORRISON SUPERMARKETS | 3.5% | 4 | 0.0% |
| ASHMORE GROUP PLC | 3.5% | 5 | -0.1% |
| GVC Holdings Plc | 3.4% | 4 | 0.1% |
| KEYWORDS STUDIOS PLC | 3.3% | 4 | 0.5% |
| ASCENTIAL PLC | 3.2% | 2 | 0.0% |
| MARKS & SPENCER GROUP PLC | 3.2% | 3 | 0.1% |
| HURRICANE ENERGY PLC | 3.2% | 3 | 0.7% |
| ITV PLC | 3.1% | 5 | 0.6% |
| AUTO TRADER GROUP PLC | 3.1% | 4 | 0.0% |
| Primary Health Properties PLC | 3.0% | 1 | 0.0% |
| ULTRA ELECTRONICS HLDGS PLC | 3.0% | 2 | 0.0% |
| N. Brown Group | 2.9% | 3 | 0.0% |
| VICTREX PLC | 2.9% | 3 | 0.0% |
| RESTAURANT GROUP PLC | 2.8% | 2 | -0.3% |
| INTERCONTINENTAL HOTELS GROUP PLC | 2.8% | 1 | 0.0% |
| VALARIS PLC | 2.6% | 3 | -0.5% |
| SMITH (DAVID S) HOLDINGS PLC | 2.4% | 2 | 0.0% |
| VITEC GROUP PLC (THE) | 2.4% | 2 | -0.1% |
| HISCOX LTD | 2.3% | 3 | 0.0% |
| B&M EUROPEAN VALUE RETAIL S.A. | 2.2% | 2 | 0.0% |
| DAILY MAIL & GENERAL TRUST | 2.2% | 2 | -0.1% |
Source: FCA, as at 26 August 2020
| 1-month EPS upgrades | ||||
| FWD EPS CHG | ||||
| Name | TIDM | 1mth | 3mth | 1yr |
| IGas Energy | IGAS | 280.0% | -29.6% | -70% |
| Belvoir Group | BLV | 141.0% | 141.0% | 18% |
| ASOS | ASC | 132.6% | - | 230% |
| Barclays | BARC | 111.2% | 61.2% | -80% |
| Alfa Financial Software | ALFA | 100.6% | 113.4% | -72% |
| Sylvania Platinum | SLP | 75.5% | 28.5% | 143% |
| Renishaw | RSW | 59.5% | 74.3% | -36% |
| Next | NXT | 52.9% | 63.2% | -61% |
| IXICO | IXI | 50.0% | - | - |
| LSL Property Services | LSL | 49.0% | 0.9% | -21% |
| Panoply Holdings | TPX | 45.2% | 38.5% | 2% |
| Hollywood Bowl Group | BOWL | 44.7% | 5.4% | -75% |
| 3i Group Plc | III | 40.4% | 96.6% | -13% |
| Clipper Logistics | CLG | 39.7% | 36.7% | 43% |
| Hochschild Mining | HOC | 39.7% | 7.8% | -11% |
| Capital | CAPD | 37.5% | 36.3% | 67% |
| Luceco Plc | LUCE | 36.9% | 261.9% | 62% |
| TI Fluid Systems | TIFS | 32.1% | 82.6% | -86% |
| Breedon Grp | BREE | 28.8% | -42.8% | -51% |
| Royal Dutch Shell | RDSA | 26.5% | 5.2% | -77% |
| Ferrexpo | FXPO | 25.9% | 44.4% | -41% |
| Hargreaves Services | HSP | 25.3% | 25.3% | 40% |
| Royal Dutch Shell | RDSB | 24.9% | 4.6% | -77% |
| Keller Group | KLR | 24.6% | 16.3% | -13% |
| AO World | AO | 24.0% | - | - |
| Kainos Group | KNOS | 23.6% | 26.4% | 26% |
| Kenmare Resources | KMR | 22.6% | -58.1% | -74% |
| Gear4music Holdings | G4M | 22.4% | 241.8% | 436% |
| Tyman | TYMN | 22.2% | -6.5% | -31% |
| Phoenix Group Holdings | PHNX | 21.5% | 16.5% | 23% |
| IP Group | IPO | 20.2% | 264.5% | -64% |
| Henry Boot | BOOT | 18.6% | 18.6% | -68% |
| SDL | SDL | 17.5% | 14.7% | -15% |
| Watches of Switzerland Group | WOSG | 15.9% | 16.0% | -11% |
| BATM Advanced Comm | BVC | 15.9% | 91.4% | 81% |
| Beazley | BEZ | 15.8% | 146.3% | -80% |
| 4Imprint Group | FOUR | 15.3% | -69.3% | -86% |
| Just Grp | JUST | 14.7% | 17.5% | 18% |
| Intu Properties | INTU | 14.5% | -15.2% | -73% |
| AA | AA | 14.4% | 14.1% | -10% |
| CRH | CRH | 13.5% | 23.3% | -17% |
| Robinson | RBN | 13.4% | 13.4% | 41% |
| Admiral Group | ADM | 13.3% | 13.2% | 18% |
| Standard Chartered | STAN | 13.1% | -17.1% | -56% |
| B&M European Value Retail | BME | 12.1% | 51.2% | 47% |
| ContourGlobal Plc | GLO | 11.8% | 23.9% | 1% |
| Fresnillo | FRES | 11.0% | 50.2% | 60% |
| CLS Holdings | CLI | 10.8% | 10.9% | -12% |
| EVRAZ | EVR | 10.4% | 3.1% | -56% |
| Smurfit Kappa Group | SKG | 10.3% | 6.7% | -26% |
| Tribal Group | TRB | 10.0% | 10.0% | -7% |
| Codemasters Group Holdings | CDM | 9.9% | 47.0% | 33% |
| Bank of Georgia Group | BGEO | 9.6% | -29.1% | -45% |
| Persimmon | PSN | 9.6% | 11.0% | -24% |
| Grainger | GRI | 9.4% | 0.5% | -18% |
| Pets At Home | PETS | 9.4% | -9.4% | -17% |
| Marks & Spencer Group | MKS | 9.2% | -14.7% | -62% |
| Mondi | MNDI | 8.7% | 5.4% | -32% |
| Playtech | PTEC | 8.5% | 6.1% | -61% |
| Frasers Group | FRAS | 8.3% | 2.4% | -4% |
| IMI | IMI | 8.1% | 13.0% | -7% |
| Centrica | CNA | 8.0% | 6.9% | -38% |
| Mortgage Advice Bureau | MAB1 | 7.5% | 7.5% | -31% |
| Polymetal International | POLY | 7.5% | 9.6% | 66% |
| Empiric Student | ESP | 7.5% | -13.8% | -44% |
| Bunzl | BNZL | 7.4% | 32.1% | -2% |
| Antofagasta | ANTO | 7.4% | 138.2% | -42% |
| Aviva | AV | 7.1% | 4.5% | -16% |
| CMC Markets | CMCX | 7.1% | 14.7% | 350% |
| Gamesys Group | GYS | 7.0% | 7.0% | 32% |
| RHI Magnesita | RHIM | 6.5% | 8.7% | -46% |
| discoverIE Group | DSCV | 6.2% | -17.2% | -22% |
| GVC Holdings | GVC | 6.2% | 23.6% | -14% |
| Weir Group | WEIR | 6.0% | 6.3% | -30% |
| G4S | GFS | 5.7% | 25.2% | -32% |
| Rio Tinto | RIO | 5.5% | 12.8% | -18% |
| Next Fifteen Comm | NFC | 5.4% | 8.1% | -12% |
| EKF Diagnostics | EKF | 5.3% | 78.5% | 131% |
| Rotork | ROR | 5.2% | 7.5% | -15% |
| Caledonia Mining | CMCL | 5.2% | 7.7% | - |
| Hikma Pharmaceuticals | HIK | 5.2% | 1.8% | 14% |
| Cranswick | CWK | 5.0% | 15.6% | 28% |
| AG BARR | BAG | 5.0% | -3.5% | -19% |
| Draper Esprit | GROW | 4.9% | 85.1% | -16% |
| TBC Bank Group | TBCG | 4.7% | -31.3% | -50% |
| Rentokil Initial | RTO | 4.6% | 7.9% | -11% |
| Applegreen | APGN | 4.5% | 4.5% | 20% |
| Plus500 | PLUS | 4.5% | 2.2% | 141% |
| Flutter Entertainment | FLTR | 4.4% | 13.7% | 26% |
| Rathbone Brothers | RAT | 4.4% | 13.0% | -21% |
| IG Group Holdings | IGG | 4.4% | -16.0% | 28% |
| Bodycote | BOY | 4.2% | -1.8% | -44% |
| Anglo American Plc | AAL | 4.1% | -0.7% | -42% |
| Randall & Quilter Investment Holdings | RQIH | 4.1% | -20.8% | -20% |
| Schroders | SDR | 3.8% | 12.1% | -10% |
| Ultra Electronics Hldgs | ULE | 3.6% | 2.6% | 8% |
| Volution Group | FAN | 3.5% | -3.8% | -27% |
| Compass Group | CPG | 3.5% | -17.6% | -74% |
| Burford Capital | BUR | 3.5% | -20.0% | -39% |
| Clarkson | CKN | 3.4% | -5.7% | -15% |
| Chesnara | CSN | 3.3% | 6.7% | -15% |
| Polar Capital | POLR | 3.0% | 1.8% | -2% |
Source: FactSet, as at 26 August 2020
| 1-month EPS downgrades | ||||
| FWD EPS CHG | ||||
| Name | TIDM | 1mth | 3mth | 1yr |
| Mears Group | MER | -88.0% | -95.9% | -96% |
| Churchill China | CHH | -87.9% | - | -86% |
| PageGroup | PAGE | -87.0% | -92.6% | -98% |
| ScS Group | SCS | -72.0% | -20.2% | -86% |
| Victoria | VCP | -65.7% | -66.8% | -73% |
| Gem Diamonds | GEMD | -64.4% | -73.1% | -90% |
| Appreciate Group | APP | -58.0% | -58.0% | -59% |
| Ascential | ASCL | -57.9% | -64.0% | -89% |
| H&T Group | HAT | -57.3% | -57.5% | -40% |
| Melrose Industries | MRO | -56.9% | -95.3% | -98% |
| 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% |
| U & I Group | UAI | -38.0% | - | -81% |
| Balfour Beatty | BBY | -37.6% | -57.9% | -64% |
| Inspiration Healthcare Gp | IHC | -37.1% | -49.3% | -37% |
| InterContinental Hotels Group | IHG | -35.0% | -67.2% | -86% |
| Franchise Brands | FRAN | -34.3% | -34.3% | - |
| Robert Walters | RWA | -34.1% | -21.6% | -88% |
| Keystone Law Group | KEYS | -33.4% | -41.7% | -57% |
| Ricardo | RCDO | -33.4% | -42.7% | -59% |
| Trifast | TRI | -33.4% | -33.1% | -52% |
| Petrofac | PFC | -33.2% | -55.0% | -77% |
| Coats Group | COA | -32.1% | -44.1% | -81% |
| Glencore | GLEN | -30.0% | -31.9% | -82% |
| Picton Property Income | PCTN | -27.7% | -19.0% | -21% |
| Taylor Wimpey | TW | -27.7% | -50.7% | -67% |
| Inchcape | INCH | -25.3% | -53.9% | -69% |
| MITIE Group | MTO | -23.2% | -60.1% | -64% |
| Bushveld Minerals | BMN | -22.3% | -36.7% | -63% |
| Dialight | DIA | -22.2% | -22.3% | -79% |
| Marshalls | MSLH | -21.8% | -36.2% | -49% |
| Hammerson | HMSO | -21.6% | -28.1% | -64% |
| Morses Club | MCL | -21.2% | -21.2% | -36% |
| NewRiver REIT | NRR | -20.9% | -60.9% | -54% |
| Smart Metering Systems | SMS | -20.7% | -18.2% | -49% |
| Just Eat Takeaway.com | JET | -20.5% | 12.8% | - |
| Wentworth Resources | WEN | -20.3% | -19.1% | -59% |
| Anexo Group | ANX | -19.5% | -33.9% | -36% |
| Babcock International Group | BAB | -18.9% | -36.9% | -40% |
| Aggreko | AGK | -17.7% | -29.2% | -56% |
| Investec | INVP | -16.3% | -29.9% | -34% |
| Airtel Africa | AAF | -16.1% | -18.3% | -27% |
| Serica Energy | SQZ | -15.9% | -33.6% | -80% |
| Vivo Energy | VVO | -15.6% | -46.8% | -57% |
| Greencore Group | GNC | -15.4% | -35.7% | -60% |
| Lancashire | LRE | -15.1% | -30.3% | -42% |
| Grafton Group | GFTU | -15.0% | -36.0% | -66% |
| Tekmar Group Plc | TGP | -15.0% | -15.0% | -52% |
| Scapa Group | SCPA | -14.9% | -71.0% | -77% |
| Howden Joinery Group | HWDN | -14.6% | -42.6% | -52% |
| Ibstock | IBST | -14.4% | -59.5% | -75% |
| Yellow Cake | YCA | -13.4% | 3586.6% | 5480% |
| Hargreaves Lansdown | HL | -12.9% | -10.4% | -14% |
| Urban&Civic | UANC | -12.9% | 67.3% | -56% |
| Gooch & Housego | GHH | -11.9% | -20.0% | -38% |
| Bellway | BWY | -11.8% | -18.1% | -45% |
| James Halstead | JHD | -11.2% | -11.2% | -15% |
| HSBC Holdings | HSBA | -11.2% | -27.5% | -67% |
| Midwich Group | MIDW | -11.1% | -23.9% | -28% |
| Informa | INF | -11.0% | -35.4% | -66% |
| K3 Capital Group | K3C | -10.9% | -10.9% | 30% |
| Elementis | ELM | -10.8% | -17.8% | -55% |
| Lloyds Banking Group | LLOY | -10.2% | -41.5% | -85% |
| Virgin Money UK | VMUK | -10.1% | -11.6% | -83% |
| Proactis | PHD | -10.0% | -10.0% | -74% |
| Countryside Properties | CSP | -9.9% | -44.1% | -61% |
| De La Rue | DLAR | -9.9% | 38.5% | -60% |
| SThree | STEM | -9.4% | -17.0% | -60% |
| BHP Group | BHP | -9.3% | -11.3% | -28% |
| Moneysupermarket com Grp | MONY | -8.1% | -22.0% | -24% |
| Pelatro | PTRO | -7.9% | - | -87% |
| Travis Perkins | TPK | -7.7% | -22.8% | -47% |
| Amino Technologies | AMO | -7.3% | -8.4% | -5% |
| Signature Aviation | SIG | -7.1% | -19.5% | -71% |
| Costain Group | COST | -7.1% | -42.4% | -73% |
| Polypipe Group | PLP | -7.1% | -54.8% | -62% |
| SimplyBiz Group | SBIZ | -7.1% | -18.6% | -13% |
| Workspace Group | WKP | -7.0% | -31.9% | -33% |
| Vodafone Group | VOD | -6.7% | -18.8% | -18% |
| Capital & Regional | CAL | -6.3% | -22.2% | -67% |
| BT Group | BT.A | -6.2% | -9.7% | -26% |
| NWF Group | NWF | -6.2% | -6.2% | 13% |
| Nichols | NICL | -6.1% | -9.4% | -36% |
| Equiniti Group | EQN | -6.0% | -14.9% | -36% |
| Kier Group | KIE | -6.0% | -28.0% | -62% |
| GlobalData | DATA | -5.9% | 0.6% | 21% |
| James Fisher & Sons | FSJ | -5.6% | -13.0% | -33% |
| RDI REIT | RDI | -5.6% | -3.1% | -45% |
| St Modwen Properties | SMP | -5.3% | -33.9% | -44% |
| Abcam | ABC | -5.1% | -20.8% | -47% |
| United Oil & Gas | UOG | -5.0% | - | - |
| Drax Group | DRX | -5.0% | -0.4% | 9% |
| Restore | RST | -4.8% | -17.7% | -45% |
| Stagecoach Group | SGC | -4.7% | -84.8% | -88% |
| BOKU | BOKU | -4.5% | 11.0% | 32% |
| Calisen | CLSN | -4.5% | -1.6% | - |
| Close Brothers Group | CBG | -4.5% | -25.6% | -48% |
| GoCo Group | GOCO | -4.4% | -6.4% | -1% |
| Network International Holdings | NETW | -4.4% | -27.0% | -51% |
| Target Healthcare REIT | THRL | -4.4% | -4.4% | 16% |
| Hastings Group Holdings | HSTG | -4.4% | -5.5% | -2% |
| CVS Group | CVSG | -4.3% | 69.6% | -18% |
| Petropavlovsk | POG | -4.3% | 192.9% | - |
| Devro | DVO | -4.2% | -3.7% | -6% |
| CentralNic Group | CNIC | -4.1% | 3.1% | 3% |
| Go-Ahead Group | GOG | -3.8% | -34.4% | -64% |
| SSE | SSE | -3.7% | -12.5% | -19% |
| Alliance Pharma | APH | -3.6% | -4.9% | -8% |
| UDG Healthcare | UDG | -3.2% | -12.0% | -16% |
| Redde Northgate | REDD | -3.1% | -12.4% | -23% |
| Hummingbird Resources | HUM | -3.1% | - | -12% |
| Smith & Nephew | SN | -3.0% | -19.1% | -38% |
Source: FactSet, as at 26 August 2020
