Retail investors cash in on initial Cadbury’s hike
Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Unsurprisingly Cadbury entered this week's top ten - becoming the second highest sell - after finally agreeing to a takeover deal with US food giant Kraft (subject to shareholder approval). The Bourneville-based firm accounted for 19% of this week's top ten sells after its share price climbed 5.7% (45p) to reach 836p (as at markets close on Tuesday 19 Jan) over the past seven days.
"After months of wrangling Cadbury finally succumbed to an £11.9 billion deal during the early hours of Tuesday (19 Jan) - worth 850p to its shareholders. Irene Rosenfeld, the chief executive and chairman of Kraft has pledged £794 million for restructuring costs under the deal, which will need to meet approval by 50% of Kraft's shareholders by 2 February.
"The high volume of sells in Cadbury meant that overall top ten buy trades were just 10% ahead of sells this week, slipping slightly from 24% last week. However, the top ten buys were dominated largely by the mining sector (42%) as the price of crude oil climbed above $79 a barrel on Tuesday. The highest performing miner, Desire Petroleum, accounted for 28% of all top ten mining buys after its open offer announced in December came to a close on 11 January. The offer aimed to raise gross proceeds of up to £20.3 million with the issue of up to 28,971,544 new ordinary shares.
"Vatukoula Gold Mines made its debut appearance in the top ten - reaching ninth place in the buys - after becoming the most heavily traded small cap last Wednesday (13 Jan) on the back of an independent assessment into its Fiji-based gold mine. The company claimed its well harbours a world-class, high-grade gold deposit - causing its share price to jump 98.08p over the week.
"Finally, luxury car-maker Rolls-Royce drove into tenth place of the top ten sells this week after signing an £865 million service contract with the Ministry of Defence. Rolls-Royce will support the RAF's fleet of Eurofighter Typhoon aircrafts - which are powered by its EJ200 engines - until 2019. The firm has maintained 100% of its performance requirements towards the RAF's EJ200 engines since first being granted a service contract in 2001."