Two stocks that slipped on ASX - CYBG PLC and Santos Ltd

• Challenging short term prospects:CYBG PLC(ASX: CYB) stock lost over 5.2% on September 14, 2016 as the group reported a challenging outlook for the short term. We have been estimating that CYB would continue to face pressure on the event of Brexit and accordingly maintained our bearish stance on the stock from quite a while now. Even the group reported for a challenging loan growth prospects despite expecting a double-digit return on tangible equity on a long term basis (by the end of FY 2019).
• Recommendation:The shares of CYB fell over 12.8% (as of September 13, 2016) in the last three months and we maintain our “Expensive” recommendation on the stock at the current price of $4.39

• Positive drilling results:Santos Ltd(ASX: STO) stock fell over 5.6% on September 14, 2016 due to commodity price movement. On the other hand, Santos has an outstanding asset base and continues to witness positive drilling results. Recently, the group reported that their South Australian Gas project (with Beach being operator having 20.21% stake, while Santos has over 66.6% stake and Origin has 13.19% stake) is progressing well with five?well appraisal and development campaign on track. This campaign aims to expand the central development area of the field and is targeting the Patchawarra Formation, Tirrawarra Sandstone and Merrimelia Formation, with the Epsilon Formation providing a secondary target. Big Lake?134 was cased and suspended as a future Permian gas producer while drilling for other wells Big Lake?136 to ?138 is underway.

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