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    July 24, 2006

    Acquisitions help out London markets

    Filed under: Companies, PartyGaming, Vodafone, Amvescap, Wolseley, GCap Media, Whitbread

    In London on Monday the FTSE 100 was 2 percent higher, to 5,833.9 as quarterly reports continued to come in. The 100 as a whole was helped by the news that US hospital chain HCA is being purchased by a consortium that includes Bain Capital and Kohlberg Kravis Roberts for $21 billion. Meanwhile, the FTSE 250 also saw gains, closing the day at 9,223.5.

    Vodafone gained 3.6 percent to 115¼p when it announced that revenues grew by 4.5 percent in the first quarter. Even so, its head in Europe will leave as revenues in German and Italy were down.

    In the online gaming sector, PartyGaming seemed to be attempting to recover from last week’s losses by adding 8 percent to 104½p.

    Plumber Wolseley added 3.1 percent to £11.12 when it said it has purchased DT Group, a Nordic building materials supplier.

    Amvescap said it would buy the private equity group owned by US investor Wilbur Ross, sending its shares up by 4.8 percent to 481¾p.

    Bids rumors sent Whitbread 6.1 percent higher to £12.44 after it was said that Starwood Capital had an offer ready. The news spurred Panmure Gordon to reconfirm its “buy” recommendation and 1370p target share price on Whitbread.

    On the losing side, GCap Media fell 7.5 percent to 197½p on an announcement of revenues lower than expected in the March through June quarter.





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