The latest lurch lower by the FTSE 100 provides the cue for another round of consternation about how the UK’s blue-chip index has gone nowhere for over 20 years. But what actual lessons are there for investors from the poor run?
The take-away touted by some, that investing in shares is dumb, is clear bunkum. Anyone will know this who either takes a look at overseas markets during the same period or factors in dividends to their return calculations (doing this changes the 7.5 per cent 20-year drop into a 90 per cent gain). However, the score card of UK blue-chips is nonetheless terrible.
It is the type of companies dominating the FTSE 100 constituent list that is the real clue to what has gone so wrong. Many of the largest companies in the index are mature, capital-intensive businesses operating in industries that have long faced significant disruption – although it may only be now disruption has become too obvious to ignore.
Take the energy companies BP (BP.) and Shell (RDSB), which account for 18 per cent of the FTSE 100 by value. These have justified themselves to shareholders over many decades with dividends that they can no longer afford to pay due to the world’s rapid switch to renewable power.
The index’s five big banks (14 per cent) have seen income squeezed by relentless falls in interest rates. Added to that, the commercial property that underpins a vast proportion of their balance sheets is seriously imperilled by not only the current recession, but also long-term disruption in both the retail and office markets.
The three big Reits (9 per cent) also face the threat of falling rents and property values for years to come as a result of the digitisation of shopping and more recently offices.
And then there are the retailers that occupy some of that space (4 per cent including supermarkets) which are seeing their profits whacked by trade moving online.
With all these depressing blue-chip narratives, it’s perhaps unsurprising the London Stock Exchange struggles to attract champions of global innovation. The great hope that chipmaker ARM would re-list in the UK has been dashed by its purchase by US company Nvidia. The UK did get the recent listing of The Hut Group, a global online retail platform, but only time will tell whether it lives up to its hype. Other London listed contenders for the title of global innovator, such as would be Microsoft-of-retail Ocado (OCDO), also still have plenty to prove.
However, there is no reason why our blue-chip index has needed to attract new names to keep up with the times. Incumbents can be innovators, too. But only if they have the foresight to identify long-term trends and the bravery to sacrifice old ways to embrace the future.
Take Danish energy company Orsted (DK:ORSTED), which often appears in the Ideas Farm’s lists of fund managers’ favourite green stocks. We tipped Orsted in January based on the amazing job it has done over a decade in transforming from a fossil fuel junky into a green energy leader. Many shareholders in BP and Shell may now be wishing those companies had spent the past decade ploughing all that dividend and exploration cash into a similarly visionary strategy, rather than pursuing the same-old same-old.
This week’s Tips & Ideas section tells the story of another FTSE 100 company that has been undergoing its own evolution to adapt to a rapidly changing market, and which now plans to double down on the innovations of recent years: clothing retailer Next (NXT).
What the performance of the FTSE 100 tells us is that size is no protection against major industry changes. Indeed, size can often cause leading players to stay anchored in the past. However, the likes of Orsted and Next also let us know it doesn’t have to be this way. And we could add the names of other change-embracing UK blue-chips alongside, such as Relx (RLX) and Experian (EXPN).
Indeed, taking the long view, what is really surprising is not the innovations that have laid industry leaders low, but the inertia of so many industry leaders to embrace change and the long-term opportunities it offers.
Click here to view the tables in PDF form.
Fund Manager best ideas: Health | |
No. Funds | |
Roche Holding AG Dividend Right Cert. | 10 (+5) |
UnitedHealth Group Inc | 10 (+4) |
AbbVie Inc | 8 (+5) |
Amgen Inc | 8 (+5) |
Vertex Pharmaceuticals Inc | 8 (+4) |
Abbott Laboratories | 6 (+4) |
Thermo Fisher Scientific Inc | 6 (+4) |
Biogen Inc | 4 (+2) |
Boston Scientific Corp | 4 (+3) |
Johnson & Johnson | 4 (+2) |
Sanofi SA | 4 (+2) |
Applied Therapeutics Inc | 2 (+1) |
argenx SE | 2 (+1) |
Avantor Inc | 2 (NEW) |
Baxter International Inc | 2 (+1) |
Becton, Dickinson and Co | 2 (+1) |
Biomarin Pharmaceutical Inc | 2 (+1) |
Exelixis Inc | 2 (NEW) |
Fresenius Medical Care AG & Co. KGaA | 2 (+1) |
Gilead Sciences Inc | 2 |
Humana Inc | 2 (+1) |
Incyte Corp | 2 (NEW) |
Medtronic PLC | 2 |
Merck & Co Inc | 2 (+1) |
Neurocrine Biosciences Inc | 2 (NEW) |
Novartis AG ADR | 2 (+1) |
Pfizer Inc | 2 (NEW) |
Regeneron Pharmaceuticals Inc | 2 (+1) |
Seattle Genetics Inc | 2 (+1) |
Based on top 5 holdings
Source: Morningstar, as at 22 September 2020
New 52-week highs | |||
Name | TIDM | Price | % from hi |
JP Morgan Japan Smaller | JPS | 490p | 0.4% |
Capital Gearing Trust Plc | CGT | 4,560p | 0.7% |
Collagen Solutions | COS | 7p | 0.7% |
Fidelity Japan Trust | FJV | 198p | 0.8% |
BBGI | BBGI | 170p | 0.9% |
EPE Special Opportunities | ESO | 212p | 0.9% |
Atlan Jap Grth | AJG | 240p | 1.3% |
Witan Pacific Invt Tr | BGCG | 399p | 1.4% |
Hastings Group Holdings | HSTG | 253p | 1.4% |
JBM CN Grw&Inc | JCGI | 540p | 1.5% |
discoverIE Group | DSCV | 636p | 1.5% |
Pacific Horizon Invt Tr | PHI | 576p | 1.7% |
Providence Resources | PVR | 6p | 1.7% |
Miton UK MicroCap Trust | MINI | 56p | 1.9% |
BlackRock Greater Eu Invt | BRGE | 458p | 1.9% |
SDCL Energy Efficiency | SEIT | 110p | 2.2% |
Gore Street Energy | GSF | 107p | 2.3% |
Schroder Asian Total | ATR | 420p | 2.3% |
International Biotech | IBT | 794p | 2.3% |
Croda International | CRDA | 6,142p | 2.5% |
Admiral Group | ADM | 2,775p | 2.5% |
Baker Steel Res Trust | BSRT | 67p | 2.5% |
Phoenix Spree Deutschland | PSDL | 326p | 2.5% |
JPMorgan Asia Growth | JAGI | 421p | 2.5% |
Augmentum Fint | AUGM | 118p | 2.6% |
Jersey Electricity | JEL | 475p | 2.7% |
Fidelity China Special | FCSS | 325p | 2.7% |
JPMorgan Japanese Invt | JFJ | 566p | 2.7% |
Aberdeen Japan Invt Trust | AJIT | 635p | 2.8% |
Bail Giff Eur | BGEU | 1,185p | 2.9% |
Intertek Group | ITRK | 6,292p | 2.9% |
High Tact Cred | HTCF | 202p | 2.9% |
Impax Asset Management Gp | IPX | 520p | 3.0% |
Source: FactSet (23 September 2020)
New 52-week lows | |||
Name | TIDM | Price | % from lo |
Town Centre Securities | TOWN | 86p | 0.0% |
Standard Chartered | STAN | 339p | 0.1% |
Georgia Capital Plc | CGEO | 351p | 0.3% |
SME Credit Realisation Fd | SCRF | 55p | 0.5% |
Petrofac | PFC | 123p | 0.6% |
Capital & Regional | CAL | 46p | 0.7% |
Derwent London | DLN | 2,458p | 0.7% |
Hunting | HTG | 146p | 0.9% |
Rolls-Royce Holdings | RR | 161p | 0.9% |
AG BARR | BAG | 373p | 0.9% |
Hipgnosis Songs | SONC | 101p | 1.0% |
Greggs | GRG | 1,156p | 1.1% |
HSBC Holdings | HSBA | 288p | 1.2% |
Lloyds Banking Group | LLOY | 24p | 1.4% |
Stagecoach Group | SGC | 36p | 1.6% |
Micro Focus International | MCRO | 259p | 1.7% |
Appreciate Group | APP | 28p | 1.8% |
Taylor Wimpey | TW | 100p | 1.8% |
Capital & Counties Props | CAPC | 114p | 2.2% |
Land Securities Group | LAND | 513p | 2.6% |
NatWest Group | NWG | 93p | 3.0% |
Source: FactSet (23 September 2020)
Shorts | |||
Company | Short Interest | No. Shorters | 1wk chg in short interest |
HAMMERSON PLC | 15.4% | 11 | 1.3% |
PEARSON PLC | 8.6% | 9 | 0.5% |
CINEWORLD GROUP | 8.6% | 8 | 0.2% |
PREMIER OIL PLC | 8.1% | 2 | 0.0% |
TULLOW OIL PLC | 7.8% | 5 | 0.0% |
PETROFAC LTD | 7.8% | 5 | 0.8% |
METRO BANK PLC | 7.2% | 6 | 0.0% |
SAINSBURY (J) PLC | 5.6% | 7 | 0.7% |
BABCOCK INTL GROUP PLC | 5.5% | 3 | -0.1% |
PETROPAVLOVSK PLC | 5.4% | 7 | -0.1% |
TUI AG | 5.3% | 6 | 0.0% |
PETS AT HOME GROUP PLC | 4.9% | 4 | -0.1% |
DOMINO'S PIZZA GROUP PLC | 4.8% | 5 | 0.0% |
WEIR GROUP PLC/THE | 4.7% | 3 | 0.0% |
FUTURE PLC | 4.4% | 4 | 0.4% |
BLUE PRISM GROUP PLC | 4.4% | 7 | 0.1% |
IQE PLC | 3.8% | 5 | 0.1% |
VODAFONE GROUP PLC | 3.8% | 3 | 0.0% |
WOOD GROUP (JOHN) PLC | 3.8% | 5 | NEW |
CAPITA PLC | 3.7% | 3 | 0.0% |
MICRO FOCUS INTERNATIONAL | 3.6% | 4 | -0.1% |
INTL CONSOLIDATED AIRLINE-DI | 3.6% | 3 | -0.5% |
N. Brown Group | 3.5% | 4 | 0.0% |
CRODA INTERNATIONAL PLC | 3.5% | 5 | 0.2% |
WM MORRISON SUPERMARKETS | 3.4% | 3 | 0.1% |
ASHMORE GROUP PLC | 3.3% | 4 | -0.1% |
GVC Holdings Plc | 3.2% | 4 | -0.1% |
BRITISH LAND CO PLC | 3.2% | 3 | -0.1% |
SMITH (DAVID S) HOLDINGS PLC | 3.2% | 5 | 0.1% |
KEYWORDS STUDIOS PLC | 3.1% | 4 | 0.0% |
HURRICANE ENERGY PLC | 3.0% | 3 | -0.3% |
AUTO TRADER GROUP PLC | 3.0% | 1 | 0.0% |
Primary Health Properties PLC | 2.9% | 3 | 0.0% |
NETWORK INTERNATIONAL HOLDINGS PLC | 2.8% | 4 | 0.5% |
ULTRA ELECTRONICS HLDGS PLC | 2.8% | 1 | 0.0% |
VICTREX PLC | 2.5% | 3 | 0.1% |
ST JAMES'S PLACE PLC | 2.4% | 4 | NEW |
MARKS & SPENCER GROUP PLC | 2.3% | 3 | -0.4% |
B&M EUROPEAN VALUE RETAIL S.A. | 2.3% | 2 | -0.1% |
Source: FCA (23 September 2020)
Upgrades | ||||
FWD EPS CHG | ||||
Name | TIDM | 1mth | 3mth | 1yr |
MJ Gleeson | GLE | 385.0% | 231.6% | -41% |
LiDCO Group | LID | 281.4% | - | - |
Yourgene Health | YGEN | 263.5% | - | - |
MJ Hudson Group | MJH | 180.0% | 166.7% | - |
Halfords Group | HFD | 148.3% | -24.8% | -21% |
Litigation Capital Mgmt | LIT | 131.1% | 102.9% | 87% |
Pan African Resources | PAF | 118.0% | 115.3% | 123% |
Keystone Law Group | KEYS | 102.0% | 34.5% | -12% |
Alfa Financial Software | ALFA | 79.8% | 100.6% | -65% |
JD Sports Fashion | JD | 77.1% | -36.9% | -34% |
Science Group | SAG | 72.3% | - | 12% |
RM | RM | 68.2% | 225.8% | -59% |
Grafton Group | GFTU | 67.2% | 47.0% | -45% |
Alumasc Group | ALU | 65.7% | 65.6% | -13% |
Allergy Therapeutics | AGY | 61.1% | - | - |
Wentworth Resources | WEN | 60.2% | 31.8% | -34% |
Speedy Hire | SDY | 59.2% | -65.7% | -67% |
Accrol Group Holdings | ACRL | 58.2% | 58.2% | - |
SigmaRoc | SRC | 53.8% | 54.5% | -19% |
Kier Group | KIE | 51.2% | 21.5% | -37% |
Beeks Financial Cloud Grp | BKS | 50.1% | 27.0% | -31% |
City of London Investment | CLIG | 43.5% | 43.5% | 12% |
Glencore | GLEN | 42.8% | 12.5% | -72% |
Clipper Logistics | CLG | 39.7% | 36.7% | 0% |
Sylvania Platinum | SLP | 38.8% | 32.9% | 150% |
Dunelm Group | DNLM | 32.1% | 43.6% | 8% |
Bushveld Minerals | BMN | 31.9% | -16.3% | -51% |
Ricardo | RCDO | 31.8% | -16.1% | -49% |
Plus500 | PLUS | 31.1% | 57.2% | 223% |
Proactis | PHD | 30.0% | 30.0% | - |
Ferrexpo | FXPO | 28.8% | 78.3% | -21% |
Hummingbird Resources | HUM | 28.4% | 13.5% | 126% |
Ariana Resources | AAU | 26.7% | 40.7% | -5% |
Redrow | RDW | 25.2% | -11.2% | -39% |
CMC Markets | CMCX | 24.9% | 75.5% | 439% |
Frontier Developments | FDEV | 24.5% | 29.3% | 79% |
CentralNic Group | CNIC | 21.4% | 18.4% | 4% |
Games Workshop Group | GAW | 20.6% | 22.3% | 23% |
Lok 'n' Store Group | LOK | 20.2% | 20.2% | 13% |
Abcam | ABC | 19.9% | -2.0% | -35% |
Chesnara | CSN | 19.5% | 27.5% | -22% |
Oncimmune Holdings | ONC | 18.9% | - | - |
Henry Boot | BOOT | 18.7% | 18.6% | -69% |
Computacenter | CCC | 17.3% | 29.2% | 35% |
Ideagen | IDEA | 17.1% | 20.5% | 7% |
Kingfisher | KGF | 16.0% | 52.6% | 10% |
Brooks MacDonald Group | BRK | 15.6% | 28.2% | 2% |
McBride | MCB | 15.0% | 18.9% | 14% |
Barratt Developments | BDEV | 14.9% | 2.1% | -30% |
ASOS | ASC | 14.4% | 4788.1% | 266% |
Spectra Systems | SPSY | 14.4% | 14.4% | 1% |
Smart Metering Systems | SMS | 14.3% | -6.4% | -40% |
GCP Student Living | DIGS | 14.3% | 10.3% | -24% |
Dixons Carphone | DC | 14.2% | 2.1% | -26% |
Gooch & Housego | GHH | 13.5% | 0.0% | -29% |
Empiric Student | ESP | 13.5% | 28.1% | -36% |
EVRAZ | EVR | 12.8% | 28.0% | -52% |
BHP Group | BHP | 12.7% | -1.1% | -15% |
Virgin Money UK | VMUK | 12.5% | -2.5% | -80% |
Genus | GNS | 12.4% | 12.5% | 14% |
Wincanton | WIN | 12.4% | 84.9% | -32% |
TI Fluid Systems | TIFS | 12.3% | 159.3% | -84% |
Flutter Entertainment | FLTR | 12.1% | 15.5% | 41% |
LoopUp Group | LOOP | 12.0% | 76.9% | 305% |
OneSavings Bank | OSB | 11.9% | 4.1% | -19% |
Tritax EuroBox | EBOX | 11.6% | 12.8% | 27% |
Next | NXT | 11.6% | 118.1% | -56% |
Anglo American Plc | AAL | 11.4% | 13.7% | -33% |
Fresnillo | FRES | 11.3% | 56.4% | 57% |
River & Mercantile Group | RIV | 10.8% | 12.8% | -29% |
Next Fifteen Comm | NFC | 10.7% | 12.3% | -9% |
InterContinental Hotels Group | IHG | 10.7% | -61.3% | -85% |
Focusrite | TUNE | 10.5% | 29.2% | 58% |
Rio Tinto | RIO | 10.4% | 17.6% | -8% |
NewRiver REIT | NRR | 10.1% | -14.7% | -50% |
Petropavlovsk | POG | 10.0% | -9.4% | 510% |
Antofagasta | ANTO | 10.0% | 90.0% | -34% |
Biffa Plc | BIFF | 9.9% | -14.4% | -84% |
Keywords Studios | KWS | 9.7% | 6.5% | 0% |
McKay Securities | MCKS | 9.6% | -13.0% | -19% |
Team17 Group | TM17 | 9.6% | 10.3% | 64% |
Tyman | TYMN | 9.4% | 25.9% | -26% |
AO World | AO | 9.4% | - | - |
Renew | RNWH | 9.3% | 9.3% | 3% |
BOKU | BOKU | 9.3% | 1.9% | 47% |
Up Global Sourcing Holdings | UPGS | 9.0% | 42.7% | -3% |
IG Group Holdings | IGG | 8.5% | -12.0% | 40% |
Future | FUTR | 8.4% | 11.9% | 51% |
Finsbury Food Group | FIF | 8.3% | - | -20% |
Vivo Energy | VVO | 8.1% | -13.8% | -52% |
Centamin | CEY | 8.0% | 6.3% | 129% |
M&G | MNG | 7.8% | 12.3% | - |
Network International Holdings | NETW | 7.8% | -11.7% | -47% |
Phoenix Group Holdings | PHNX | 7.5% | 22.1% | 34% |
Signature Aviation | SIG | 7.5% | -23.6% | -69% |
Dechra Pharmaceuticals | DPH | 7.3% | 5.9% | -1% |
Central Asia Metals | CAML | 7.0% | 16.0% | -31% |
Capita | CPI | 7.0% | -18.6% | -51% |
Bunzl | BNZL | 6.9% | 16.5% | -1% |
Capital | CAPD | 6.9% | 49.2% | 82% |
Ascential | ASCL | 6.7% | -49.0% | -89% |
Helical | HLCL | 6.6% | 23.7% | 11% |
Royal Dutch Shell | RDSA | 6.6% | 75.7% | -75% |
Close Brothers Group | CBG | 6.5% | -13.2% | -45% |
CLS Holdings | CLI | 6.3% | 17.9% | -7% |
Chemring Group | CHG | 6.3% | 7.5% | 42% |
TBC Bank Group | TBCG | 6.1% | -9.0% | -45% |
Serabi Gold | SRB | 6.1% | -18.7% | 62% |
Polymetal International | POLY | 6.0% | 18.4% | 82% |
Hochschild Mining | HOC | 6.0% | 7.7% | -31% |
PZ Cussons | PZC | 5.8% | 5.2% | -7% |
Just Grp | JUST | 5.7% | 24.3% | 29% |
John Wood Group | WG | 5.7% | 7.0% | -44% |
Panoply Holdings | TPX | 5.4% | 46.0% | 8% |
RDI REIT | RDI | 5.2% | 2.2% | -41% |
Kin and Carta | KCT | 5.2% | 4.6% | -40% |
United Utilities Group | UU | 5.2% | 4.1% | -18% |
Advanced Medical Sol Grp | AMS | 5.1% | -40.4% | -53% |
Arcontech Group | ARC | 5.0% | - | 2% |
Renishaw | RSW | 5.0% | 82.5% | -31% |
EMIS Group | EMIS | 4.9% | 3.6% | 4% |
Direct Line Insurance Grp | DLG | 4.5% | 1.9% | -13% |
Pendragon | PDG | 4.5% | 4.5% | - |
Target Healthcare REIT | THRL | 4.2% | -0.4% | -4% |
STV Group | STVG | 4.2% | -6.0% | -32% |
Record | REC | 4.1% | 10.5% | 0% |
KAZ Minerals | KAZ | 3.9% | 18.9% | -6% |
Urban Logistics REIT | SHED | 3.9% | 11.7% | -5% |
Gear4music Holdings | G4M | 3.9% | 199.1% | 457% |
Stock Spirits Group | STCK | 3.9% | 1.5% | 7% |
Spirent Communications | SPT | 3.8% | 3.9% | 17% |
Atalaya Mining | ATYM | 3.8% | 181.5% | -28% |
NCC Group | NCC | 3.7% | 22.8% | -31% |
Avast | AVST | 3.7% | 0.2% | 9% |
Royal Dutch Shell | RDSB | 3.7% | 63.7% | -76% |
ZOO Digital Group | ZOO | 3.7% | 81.0% | 36% |
RSA Insurance Group | RSA | 3.6% | -1.4% | 1% |
Oxford Instruments | OXIG | 3.5% | 7.6% | -24% |
Experian | EXPN | 3.5% | 1.8% | -8% |
Persimmon | PSN | 3.4% | 16.7% | -21% |
Man Group | EMG | 3.4% | -5.8% | -31% |
Barclays | BARC | 3.4% | 230.2% | -80% |
Diploma | DPLM | 3.3% | 2.4% | -10% |
CRH | CRH | 3.2% | 23.6% | -15% |
Burford Capital | BUR | 3.2% | 1.4% | -38% |
Ferguson | FERG | 3.2% | 4.9% | -7% |
ConvaTec Group | CTEC | 3.2% | -0.2% | -15% |
Mondi | MNDI | 3.1% | 8.3% | -28% |
Source: FactSet (23 September 2020)
Downgrades | ||||
FWD EPS CHG | ||||
Name | TIDM | 1mth | 3mth | 1yr |
Hollywood Bowl Group | BOWL | -90.2% | -85.8% | -98% |
ThinkSmart | TSL | -81.5% | - | - |
Churchill China | CHH | -77.7% | -87.9% | -86% |
PageGroup | PAGE | -73.5% | -93.5% | -98% |
Rank Group | RNK | -68.6% | -69.7% | - |
Shield Therapeutics | STX | -66.9% | -64.8% | - |
Beazley | BEZ | -65.7% | -24.3% | -93% |
Melrose Industries | MRO | -64.2% | -97.9% | -99% |
Gem Diamonds | GEMD | -62.7% | -86.3% | -96% |
Midwich Group | MIDW | -60.9% | -71.1% | -72% |
Town Centre Securities | TOWN | -60.5% | -60.5% | -75% |
Mercia Asset Management | MERC | -56.5% | - | - |
Bango | BGO | -55.9% | -55.9% | 7% |
Harworth Group | HWG | -55.0% | -55.0% | -81% |
Hays | HAS | -53.2% | -46.4% | -80% |
Urban&Civic | UANC | -51.7% | -55.8% | -79% |
Bonhill Group | BONH | -51.6% | -51.7% | -46% |
Saga | SAGA | -47.3% | -53.4% | -82% |
Trackwise Designs | TWD | -47.1% | 73.1% | 12% |
Countryside Properties | CSP | -46.9% | -70.4% | -79% |
Good Energy Group | GOOD | -41.2% | -41.2% | 0% |
Informa | INF | -32.8% | -44.9% | -77% |
Investec | INVP | -32.6% | -43.6% | -54% |
Card Factory | CARD | -28.6% | -30.2% | -90% |
Secure Income REIT | SIR | -27.2% | -27.3% | -61% |
Serica Energy | SQZ | -25.3% | -50.7% | -85% |
Bloomsbury Publishing | BMY | -24.9% | -24.9% | -46% |
Marshalls | MSLH | -23.9% | -42.1% | -61% |
Medica Group | MGP | -22.8% | -29.8% | -47% |
Lancashire | LRE | -22.4% | -40.0% | -53% |
Capital & Regional | CAL | -22.1% | -27.0% | -73% |
Hammerson | HMSO | -21.9% | -38.5% | -72% |
Vistry Group | VTY | -20.7% | -39.8% | -50% |
Petrofac | PFC | -20.5% | -54.2% | -79% |
Mattioli Woods | MTW | -19.2% | -19.2% | -5% |
Applegreen | APGN | -18.8% | -15.1% | 0% |
Pebble Group | PEBB | -18.7% | -18.2% | - |
United Oil & Gas | UOG | -15.2% | 42.4% | - |
4Imprint Group | FOUR | -14.9% | -40.9% | -87% |
Forterra Plc | FORT | -14.9% | -69.3% | -86% |
MP Evans Group | MPE | -14.7% | -18.8% | 62% |
Pennon Group | PNN | -14.2% | -26.7% | -46% |
Cake Box Holdings | CBOX | -14.2% | -14.2% | -6% |
Taylor Wimpey | TW | -13.9% | -50.5% | -71% |
Bellway | BWY | -12.2% | -28.0% | -51% |
Costain Group | COST | -12.2% | -26.0% | -76% |
AB Dynamics | ABDP | -12.1% | -17.2% | -18% |
Trifast | TRI | -11.7% | -40.0% | -57% |
Mediclinic International | MDC | -11.5% | -31.5% | -59% |
Marks & Spencer Group | MKS | -11.2% | -3.5% | -66% |
De La Rue | DLAR | -10.9% | -21.4% | -64% |
K3 Capital Group | K3C | -10.9% | -10.9% | -20% |
Iofina | IOF | -10.7% | 15.1% | 40% |
Workspace Group | WKP | -10.2% | -14.9% | -40% |
Appreciate Group | APP | -9.9% | -62.2% | -63% |
Lloyds Banking Group | LLOY | -9.4% | -36.2% | -86% |
Augean | AUG | -9.3% | -9.3% | 30% |
EKF Diagnostics | EKF | -9.2% | 44.0% | 184% |
PayPoint | PAY | -9.0% | -13.0% | -28% |
Breedon Grp | BREE | -8.6% | -1.0% | -55% |
Bakkavor Group | BAKK | -8.6% | -8.7% | -43% |
Travis Perkins | TPK | -8.4% | -13.2% | -52% |
Intermediate Capital Grp | ICP | -8.3% | -16.1% | -33% |
Kenmare Resources | KMR | -8.3% | -53.6% | -76% |
Dignity | DTY | -7.8% | -7.9% | -29% |
TheWorks | WRKS | -7.6% | 2.6% | -58% |
Meggitt | MGGT | -7.4% | -18.2% | -52% |
Ergomed | ERGO | -7.4% | 4.0% | 63% |
Nucleus Financial Group | NUC | -7.1% | 41.7% | -35% |
Fevertree Drinks | FEVR | -7.0% | -10.6% | -40% |
Equiniti Group | EQN | -6.8% | -16.0% | -41% |
James Fisher & Sons | FSJ | -6.3% | -7.7% | -33% |
RPS Group | RPS | -6.1% | -33.0% | -60% |
Studio Retail Group | STU | -6.1% | -1.3% | -2% |
Coats Group | COA | -5.7% | -40.1% | -82% |
Polypipe Group | PLP | -5.6% | -53.3% | -64% |
Balfour Beatty | BBY | -5.6% | -41.4% | -66% |
Bank of Georgia Group | BGEO | -5.4% | -24.1% | -46% |
STM Group | STM | -5.4% | -5.4% | -40% |
Severfield | SFR | -5.3% | -5.3% | -24% |
Vitec Group | VTC | -5.3% | -44.2% | -92% |
Playtech | PTEC | -4.6% | 8.3% | -61% |
Go-Ahead Group | GOG | -4.5% | -31.1% | -64% |
Inchcape | INCH | -4.2% | -28.4% | -70% |
Ebiquity | EBQ | -4.2% | -4.2% | -44% |
Ashmore Group | ASHM | -4.1% | -1.5% | -14% |
AFH Financial Group | AFHP | -3.8% | -3.7% | -2% |
Essentra | ESNT | -3.4% | -9.7% | -38% |
Pearson | PSON | -3.2% | -11.8% | -52% |
JTC | JTC | -3.1% | -5.0% | 7% |
First Derivatives | FDP | -3.1% | -2.5% | -32% |
Source: FactSet (23 September 2020)