MRW TRADING BUY

SHORT INTEREST 19%

Thursday • 15 September 2016 • 08:50

We closed our short last night on the back of expected good numbers this morning following good momentum in LFL sales and management optimism on cash generation.

They have delivered and although we think structural headwinds will persist they are a trading BUY for us today. SHORT INTEREST is 19%!! They will fly this morning. Buy some on the open and sit back…£2 has been a big level and I think they will burst through that today….

Trade

Return

Relative Return
(vs SXXP)

UNI

-9%

-21%

LINK

+7%

-5%

SOLANA

+1160%

+1148%

KSM

-9%

-21%

EGLD

+124%

+112%

OCEAN

-34%

-46%

OGN

-43%

-55%

COTI

+6%

-6%

ORN

-55%

-69%

LIT

-50%

-62%

TVK

-64%

-76%

FRONT

-64%

-76%

MATIC

+143%

+134%

RSR

+16%

+14%

ACH

+48%

+46%

FORTH

-1%

Trade

Return

Relative Return
(vs SXXP)

Technip

-10.3%

-2.7%

CAC vs. DAX

-9.27%

BATS vs. IMT

-8.4%

Enel

-4.5%

-6.4%

UniCredit

-3.6%

-4.9%

Miners vs. Oils

-3.2%

Sanofi

-3.0%

-5.5%

Pirelli

55.29%

26.33%

TF1

26.1%

15.8%

CRH

23.6%

11.5%

ING

20.86%

16.09%

KPN

18.9%

14.1%

BASF

17.2%

6.6%

Commerzbank

16.1%

10.3%

Tele2

14.9%

13.0%

Tesco

13.2%

15.1%

Airbus

12.9%

6.6%

Shire

12.0%

7.2%

Dixons

10.5%

6.8%

BHP Billiton

9.68%

4.4%

BMW

9.25%

14.06%

Edenred

8.4%

12.7%

Rolls Royce

6.1%

6.0%

DIA

5.59%

1.16%

Fiat

5.9%

5.4%

BAE

3.7%

0.1%

AB Foods

3.4%

5.4%

Dassault

0.7%

1.4%

Pop. Milano

50.4%

43.6%

Delta Lloyd

-21.3%

-18.43

Telecom Italia

9.17%

19.16%

Schneider

-3.76%

-2.81%

Alstom

10.82%

18.53%

-23.9%

-21.8%

EON

-18.1%

-16.47%

Fiat

15.10%

10.79%

ATOS

12.5%

7.63%

LVMH

0.26%

-11.22%

SABMiller

12.46%

9.8%

AIR vs SAF

6.58%

ING vs KBC

6.12%

Metro

14.37%

0.71%

Orange

13.01%

18.31%

SKF

-3.09%

+4.05%

Rio Tinto

-10.24%

-4.71%

Glencore vs SXXP

-9.25%

Sandvik

20.61%

8.3%

Swatch

45.54%

43.37%

Hermes

5.3%

-2.02%

LVMH

4.5%

-3.15%

KPN

6.6%

9.6%

Ferrari

30.31%

17.86%

Renault

8.29%

8.88%

Commerzbank

12.87

1.92%

NIKE

5.1%

5.04

Peugeot

52.77%

56.8%

Tesco

-2.04%

5.24%

Wolseley

11.3%

4.2%

Fiat

10.66%

13.42%

Deutsche Telekom

-3.99%

+1.45%

Kering

-6.7%

-7.3%

WM Morrison

-5.5%

-4.6%

WM Morrison

3.3%

2.9%

SAB

7.7%

5.4%

Adidas

174.5%

170.14%

Luxottica

4.01%

6.5%

EOAN

5.01%

7.2%

Shire

20.43%

23.7%

GSK

11.31%

14.3%

FTSE NAMES

31.74%

38%

Ryanair

15.6%

11.2%

VXX US

-32.5%

-29.6%

VXX US

3.9%

0.4%

BHP

3.16%

2.5%

ISP vs ISPR

0.2%

BZU

-6.1%

-2.5%

ISP

17.01%

11.17%

ORANGE

7.26%

6.75%

Reckitt's

4.09%

3.85%

Adidas

-22%

-20.5%

Fiat

-15.5%

-14.8%

Nestle

13.45%

12.95%

Unilever

+0.39%

-3.08%

Easyjet

6.3%

7.5%

Deutsche Telekom

+2.3%

0.71%

Technicolore

-3.25%

-3.88%

RWE

+58.66%

+49.48%

Mediaset

+31.2%

+24.21%

Michelin

+2.87%

+3.07%

Rio

+0.65%

-1.28%

Anglo American

-0.76%

-1.28%

Gemalto

+40.30%

+0.60%

Altice

+45.83%

+42.81%

Tullow Oil

+47.37%

+29%

Airbus

-17.89%

-21.1%

Casino

+46.04

+46.01

Ingenico

+17.36%

+10.58%

IMI

+2.75%

+14.25%

HSBC

+29.10%

+40.81%

Coach

+21.18%

+13.17%

TITr vs. TIT

+2.3%

-2%

Heineken

+24.27%

+31.13%

IAG

+19.78%

+27.84%

FOX

+91.31%

+88.49%

Telecom Italia

-33.32%

-43.72%

Zalando

+3.73%

-7.37%

Vodafone

-15.49%

-21.69%

RNO vs UG

-15%

-7.8%

Ubisoft

+117.54%

+113.24%

Bollore

+9.92%

+11.16%

Bouygues

+11.08%

+14.68%

Eni

+3.53%

+6.92%

+3.26%

+7.89%

EDF

+73.97%

+82.75%

Telco consolidation

-37.14%

-46.44%

Vivendi

+16.87%

+25.66%

Shire

+8.93%

+16.53%

Solocal

-30.52%

-24.92%

St Gobain

+40.31%

+44.31%

-9.46%

-3.34%

EEM US

+12.56%

+19.12%

Buy Telcos

-8.10%

-13.99%

Societe Generale

-28.55%

-22.61%

SES

+60.91%

+67.83%

Siemens

-10.44%

-2.04%

Norsk Hydro

-5.05%

+0.36%

K+S

+32%

23%

B4B

+14.5%

+12.5%

-7.5%

-1.8%

KPN

+0.25%

-3.3%

ENX

+18%

+9.2%

STLA

+28.2%

+13.7%

UBI

-10.3%

-15.3%

REP

+32%

+16.5%

FTSE100

+6.69%

-5.2%

FTSE250

+8.56%

-6.26%

CNE

+56.14%

+41.48%

DAI

+8.9%

+3.14%

BMW

+7.65%

+7.62%

BAYN

+9.04%

-2.75%

HBR

+19.45%

+15.34%

BOO

-22%

VIV

+18.65%

+18.52%

TMV

+51%

TED

+14%

SSE

+5%

+15%

KBC

+2%

-2%

SGRE

+11%

+7.5%

EDF

+31%

+35%

CNA

+31%

+37%

Trade		Return	Relative Return (vs SXXP)
NOKIA	B	+24%	+27%
CCJ	B	+100%	+103%
FAR	B	-47%	-36.7%
TDW	B	+67%	+82%
FTI	B	-10%	+4.2%
CGG	B	-14.2%	+0.3%
RIG	B	-27%	-12.4%
SUBC	B	+12%	+26.5%
SPM	B	-68.5%	-54%
HLX	B	-28%	26.5%
LKOD	B	N/A	N/A
ATAD	B	N/A	N/A
TLW	B	-28.8%	-14.18%
GKP	B	+40%	+55%
MBTN	B	-1.1%	+12.84%
DOLE	B	-48.5%	-32%
PAM	B	+18.5%	+34.5%
YPF	B	-33.1%	-33.2%
ATO	B	-81.5%	-62.8%

Year			Performance
2021			+35.07%
2020			+19.8%
2019			+12.4%
2018			+21.07%
2017			+16.2%
2016			+12.8%
2015			+8.8%
2014			+14.7%

Trade		Return	Relative Return (vs SXXP)
AKRO	B	-4.7%	-2.1%
LTC	B	+61.9%	+58.8%
ATOM	B	-18.8%	-20.8%
THETA	B	-11.1%	-12.9%
FTM	B	-19%	-20.7%
ALGO	B	-10.6%	-12.5%
MATIC	B	+18.3%	+18.1%
SNX	B	+24%	+22.5%
THETA	B	+27.9%	+26.9%
COMP	B	+26%	+23.7%