FTSE NAMES TO BUY

We expect to see continued FTSE outperformance on back of FX benefits.

The names we are already Long and would be Buying here are GSK/ SHP/ VOD.

For GSK 10% GBP move is worth 9% in earnings upside.
http://monacoalpha.com/ideas/update-glaxosmithkline-6/

Shire is translational USD earnings as 95% of earnings are outside the UK.
http://monacoalpha.com/ideas/update-shire-2/

VODs has only 8% of EBITDA in FY16/17 derived from UK, Weaker sterling can have a material positive translation effect on earnings.
http://monacoalpha.com/ideas/buy-vodafone/

We would also highlight VOD’s and GSK’s defensive qualities with sizeable dividends.

All three now also become M&A targets for the US. How long before Liberty comes back for VOD’s?

BUY more of all three here.