Monthly momentum update

A quick look at how the shares highlighted in our momentum strategy have performed.

The strategy has had a mixed month so far, with most of those highlighted seeing share price declines. Particularly noticeable was AstraZeneca, down 8.75% after the Pfizer bid was kicked into the long grass (for now, at least). This indicates an important consideration – some of those shares with a strong performance will have been bolstered by bid talk, and if the bid talk ceases the rally in the share price can rapidly evaporate.


Share Price

% Return

  1 May 21 May  
Evraz 98 100.6 2.65%
Heritage Oil  315 314.8 -0.06%
Investec 518 510 -1.54%
Centamin 64.05 60.25 -5.93%
Rank Group 159.1 157.8 -0.82%
JD Sports Fashion 1752 1681 -4.05%
AstraZeneca 4815 4393.5 -8.75%
RSA Insurance Group 487.5 489.6 0.43%
Al Noor Hospitals Group 1028 993.5 -3.36%
Bank of Georgia Holdings 2678 2565 -4.22%
  Average return: -2.57%


I will provide an update on this towards the end of the month, and then run the momentum screen again at the beginning of June to identify those companies with a strong return over the April-May period.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.

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