Three to buy
Amryt Pha
The Mail on Sunday
This company focuses on treatments for rare diseases such as HoFH, a condition that sees about one in a million children born with prematurely high cholesterol. There is a growing need for treatments for such "orphan diseases", which have historically been given scant attention by big drug firms. 17.75p
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Equiniti
The Sunday Telegraph
This "paper shuffler" started out as Lloyds TSB Registrars, which managed the share registers for hundreds of companies. It floated two years ago and is now worth £1.1bn. A £176m acquisition of the share registration and services arm of Wells Fargo means more opportunity in the US. Rising interest rates are good news as it earns interest on cash balances it holds for clients. 287.25p
LVMH
Investors Chronicle
The world of luxury retail is enjoying a bumper year, but investors best look across the Channel to cash in. With UK brands such as Burberry and Jimmy Choo bogged down in managerial and takeover shenanigans, Parisian LVMH's range of luxury holdings including Dom Perignon should provide a better hedge against market volatility. The shares are not cheap, but they merit their premium rating. €245
Three to sell
Bunzl
Shares
This distributor and outsourcer has historically commanded a premium rating thanks to its track record of growth and acquisitions. However, Amazon may start to disrupt distribution as it has already upended retail, sending Bunzl's price tumbling 8% in recent days. Amazon is likely to squeeze margins and weigh on market sentiment. Time to cut our losses. 2,132p
Merlin Entertainments
The Sunday Times
A cheap pound is bringing in tourists, but the Alton Towers-to-Madame Tussauds owner has not cashed in. Its shares fell by 16% in one day last month following lacklustre summer trading figures that it blamed on the weather and terrorism. The "Brexit iceberg" is also eroding consumer confidence. The company is now a prime candidate for relegation from the FTSE 100. 377p
Royal Mail
The Times
Royal Mail may have won a court ruling to halt a strike before Christmas, but it remains under the cloud of threatened industrial action. Letter volumes will only continue to fall as more organisations move to digital communications. Meanwhile, competitors are proving more agile at cashing in on the increasing demand for parcel delivery created by online shopping. 395.5p
And the rest
The Daily Telegraph (Questor)
Shares in advanced detection equipment maker Kromek have slipped since Questor tipped them in March, but they will come good in the end (23.25p).
Investors Chronicle
The metals rally may soften, but miner South32 is cash-rich and conservatively managed (192p). Mobile advertising will pass the $100bn mark for the first time this year, yet mobile tech company Taptica is still looking cheap (408p).
Shares
CityFibre Infrastructure is a long-term growth buy after signing a major deal with mobile giant Vodafone (61.75p). FTSE 100 support-services firm G4S's problems aren't as bad as the market fears (256.25p). A recovering oil price promises upside for oil and gas producer Soco International (114.5p). Bowling is an affordable treat for consumers in an economic downturn and leisure group Hollywood Bowl is well placed to profit (183.75p). Shares in Fishing Republic have nearly halved in value following news that the business will make a loss in 2017 (22p). A profit warning and the exit of its chief executive have sent shares in defence firm Ultra Electronics down by nearly ax quarter (1,201p).
The Times
Shares in British Land are looking cheap and the near-5% yield gives reason enough to hold them (618.5p). The winds are blowing in the right direction for top technology pick Computacenter, yet the valuation remains low (985.5p). Game Digital's "dire track record does not inspire confidence" (38.5p).
IPO watch
The UK's biggest debt collector, Cabot Credit Management, has scrapped its planned initial public offering, blaming market conditions amid investors' questions over the sector's valuations. In October, the company, which collects debts after buying distressed or defaulted loans from banks, telecoms groups and retailers, said it would aim to raise £195m in its flotation on the London Stock Exchange, valuing the business at around £1bn. However, investor sentiment for debt collectors appears to have taken a hit, says the Financial Times, with shares in Arrow Global, Cabot's only listed peer in the UK, falling around 14% last week. In 2015, the UK accounted for more than a third of €140bn loan sales, making it the most active debt-collection market.
An American view
"Sony is out of the doghouse," says Barron's. Its sales of chips for smartphones and videogame systems are increasing. Television and music profits have "pleasantly surprised". Money-losing businesses have been shrunk or sold. Operating profit during the current financial year through March also looks set to hit a record and continue rising. What's more, in November, Sony reintroduced its popular robot puppy Aibo. Indeed, "shareholders are tickled". Five years ago, Sony was "hobbled by hubris". It had fallen behind in sales of televisions, computers and smartphones, so over the two financial years ending in 2012, it posted a loss of more than $9bn. But "as unprofitable operations were wound down, winners began to shine through". Sony trades on a price/earnings ratio of 26.
