We are cutting Virgin Money (VUK) for a loss. Following a poor result the momentum in the stock appears entrenched on the downside. While it’s cheap, we cannot argue with the price action.
MM are selling VUK in the Flagship Growth Portfolio, taking a loss around $2.60
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We are increasing our position into Macquarie (MQG), taking it up from 5% to 7% following a recent pullback.
MM are buying MQG in the Flagship growth Portfolio, adding a further 2% around $180.00
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We are adding to our existing position in TPG Telecom (TPG) by 2% taking it to a 6% weighting. A turnaround story with defensive earnings qualities.
MM are adding to TPG in the Flagship Growth Portfolio, allocating a further 2% around $5.90
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