Shares Tax Hike

Rachel Reeves is in the headlines this week for her Capital Gains Tax on shares and all stock picks are a mix of 79% Buy, 10% Hold and 11% Sell.

1. BUY S&U

Top performing stock pick this week is BUY S&U by Russ Mould in The Telegraph - Questor with a tip performance of 6%.

S&U provides consumer credit services such as motor finance and property bridging finance. Founded in 1938, S&U share price has been listed on the London Stock Exchange since 1961 under the ticker SUS.

S&U share price was at 350p in 1994, reached an all-time high of 2,910p in 2021 and is today at 1,935p.

Its motor financing subsidiary Advantage Finance which provides non-prime car loans voluntarily removed collection process restrictions due to an FCA ban in 2021 to do with the new Consumer Duty Regulation and subsequent investigation, as well as a separate FCA review into commissions. On 14 October S&U released this RNS announcing the collection process restrictions had been lifted with the agreement of the FCA.

Shares jumped 2% at the announcement.

In Stockomendation three analysts with three different ratings: Russ Mould with BUY, Berenberg with HOLD and William Kay says BUY. There are no active short positions open.

2. OVERWEIGHT Man Group

Equal second top performing stock pick this week is a tie OVERWEIGHT Man Group by JP Morgan with a tip performance of 4%.

Man Group is the world's largest publicly traded hedge fund company. In June 2024 it reported $178.2 billion in funds under management with offerings in funds for private and institutional investors in liquid and private markets.

Founded in 1783, Man Group share price listed at 28p in 1994, rose to an all-time high of 628p in 2007 and is today at 214p.

On 17 October it released its Q3 Trading Update in this RNS reporting an 8% rise in AUM even with a $7 billion client redemption.

In Stockomendation five analysts: UBS and Bank of America say BUY, JP Morgan and Barclays have OVERWEIGHT and Exane is NEUTRAL. There are no active short positions open.

3. BUY Vodafone

Third interesting stock pick this week is BUY Vodafone Group by Simon Watkins in The Motley Fool with a tip performance of 4%

Vodafone Group Pis a British multinational telecommunications company headquartered in Berkshire, with operations in Asia, Africa, Europe, and Oceania. Vodafone owns and operates networks in 16 countries, with partner networks in 46 further countries.

Vodafone share price has a primary listing on the London Stock Exchange under the ticker VOD. It is a constituent of the FTSE 100 Index and has a secondary listing on the NASDAQ as American depositary receipts (ADRs).

Vodafone share price launched in 1988. VOD share price reached an all-time high of 528p in 2000 and is now at 76p.

In his article Watkins highlights full-year 2024 results reporting growth in all its markets across Europe and Africa, shown in this RNS. He also brings attention to total service revenue up 5.4% over the same period last year for Q1 of its new fiscal year 2025 with a 42.9% increase in operating profit to €1.5bn.

In Stockomendation four analysts: Simon Watkins with BUY, Charlie Keough and Zaven Boyrazian with AVOID and Oliver Rodzianko with WATCH. There is one open short position held by Canada Pension Plan Investment Board, view that here.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 17th October 2024.