ALD –12.56%: Hit hard following a disappointing trading update today which showed they were caught out by holding Jet Fuel purchased at higher levels before selling for a loss, partially offset by strong results in Refining, Convenience Retail and Z Energy. They did talk to continued volatility in conditions but went onto say that they were still on track to deliver record Full Year earnings. Stocks that provide negative update have been hit, and have stayed hit for a while, with ALD closing on the session lows today.
MM is now neutral/bearish ALD following a weak update
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