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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Admiral Group plc    ADM   GB00B02J6398

ADMIRAL GROUP PLC

(ADM)
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Delayed Quote. Delayed London Stock Exchange - 11/15 11:35:21 am
2049 GBp   -0.10%
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UK Plc's discount steepens as political crisis over Brexit deepens

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09/04/2019 | 03:09am EST
An anti-Brexit protestor rides a bicycle with Union Jack flag and European Union flag attached to it, outside the Houses of the Parliament in London

LONDON (Reuters) - Growing worries about Britain crashing out of the European Union and a general election that could usher in a new government and major changes to UK Plc have steepened the discount for London-listed companies with exposure to the domestic economy.

Shares in London-listed companies that make the bulk of their revenue in Britain have suffered since the June 2016 referendum on European Union membership.

But worries about a no-deal Brexit have grown following the appointment of staunch Brexiteer Boris Johnson as Prime Minister in July.

His implicit threat on Monday night to lawmakers to back him on Brexit or face an election reignited an old worry for investors - a potential victory for the opposition Labour Party.

Aside from a Labour government, there are two main options from an election: a Brexit-supporting government under Johnson or a hung parliament that could lead to a coalition or minority government of some kind.

No-deal Brexit worries combined with fresh upheaval over a general election have made UK assets even less palatable, said Edward Park, deputy chief investment officer at Brooks Macdonald.

"The outcomes are becoming more extreme and political backdrop is getting rockier and that's that discount is coming into markets as well," he said.

JP Morgan's UK domestic plays index that tracks about 30 UK stocks that make all or most of their revenue at home <.JPDEUKDM> was down 1.4%, heading for its worst day in two weeks and lagging the blue-chip FTSE 100 index.

In contrast, the JP Morgan index that follows UK-listed companies making their money abroad <.JPDEUKEX> was down 0.2%, outperforming the London blue chip index and the major European bourses which were all deep in the red.

The yawning gap between the domestic and exporter indices was the widest since their inception shortly after the referendum.

The domestic index's discount to the London blue-chip benchmark since the start of the year widened to 6.6% Tuesday, while the exporter heavy index has beaten by 3.8%.

(GRAPHIC: Brexit discount deepens - https://fingfx.thomsonreuters.com/gfx/mkt/12/5598/5548/brexit.png)

(Reporting by Josephine Mason, editing by Ed Osmond)

By Josephine Mason

Stocks mentioned in the article
ChangeLast1st jan.
ADMIRAL GROUP PLC -0.10% 2049 Delayed Quote.0.10%
BARRATT DEVELOPMENTS PLC 1.46% 651.8 Delayed Quote.40.84%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
GLAXOSMITHKLINE -0.08% 1699.8 Delayed Quote.13.99%
J SAINSBURY PLC 1.74% 204.8 Delayed Quote.-22.72%
TAYLOR WIMPEY 1.30% 171.6 Delayed Quote.25.95%
WM MORRISON SUPERMARKETS PLC 1.03% 196.4 Delayed Quote.-7.90%
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Financials (GBP)
Sales 2019 723 M
EBIT 2019 484 M
Net income 2019 358 M
Debt 2019 48,6 M
Yield 2019 6,09%
P/E ratio 2019 16,8x
P/E ratio 2020 16,2x
EV / Sales2019 7,77x
EV / Sales2020 7,31x
Capitalization 5 566 M
Chart ADMIRAL GROUP PLC
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Technical analysis trends ADMIRAL GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 2 018,60  GBp
Last Close Price 2 049,00  GBp
Spread / Highest target 17,1%
Spread / Average Target -1,48%
Spread / Lowest Target -24,4%
EPS Revisions
Managers
NameTitle
David Graham Stevens Chief Executive Officer & Executive Director
Annette Elizabeth Court Non-Executive Chairman
Geraint Allan Jones Chief Financial Officer & Executive Director
Charlotte Bennett Head-Information Technology
Matt Wintle Chief Information Officer
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