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    August 1, 2006

    Online gaming falls again

    Filed under: Companies, Burren Energy, Tullow Oil, 888 Holdings, PartyGaming, Kazakhmys, Wolseley, Unilever

    The FTSE 100 was lower on Tuesday in London with a decline of 0.8 percent to 5,880.0, affected by investor concerns that interest rates in the United States could rise again in August. In addition, trade volumes were very low with only 2.2 billion shares changing hands.

    Rising crude oil prices helped the oil sector. Burren Energy added 2.9 percent to 914p while Tullow Oil gained 1.9 percent to 402p. Both were also helped by news that a French firm will sell assets, probably in Congo, to ENI of Italy; Burren and Tullow both have assets in the development in question.

    Plumber Wolseley was also up on the day, finishing 0.7 percent higher to £11.48.

    Unilever, up 12 percent in the past two weeks, added another 0.3 percent to end the session at £12.70. The consumer goods group, which is scheduled to release its quarterly report on Thursday, is expected to say that its underlying sales are up by 3.6 percent in the quarter. While Credit Suisse was optimistic about Unilever’s prospects, Lehman Brothers said that it would have to show its current valuation is deserved.

    Online gaming had another bad day. PartyGaming dropped 3.4 percent to 105¾p, while 888 Holdings was 7.7 percent lower to 143p.

    Miners were also lower on the day. Kazakhmys did better than most after Credit Suisse raised its target share price from £13 to £15 on an increase in production. Still, Kazahkmys fell 0.2 percent to £12.49.





    July 20, 2006

    UK airlines see advances

    Filed under: Companies, BA, 888 Holdings, PartyGaming, EasyJet, Rolls Royce, Colt Telecom, BAE Systems, MFI Furniture, Sportingbet, BSkyB, Ultra Electronics

    Equities markets in London were mixed on Thursday, with the FTSE 100 dropping 0.1 percent to 5,770.9 but the FTSE 250 up by 22.8 points to 9,207.2.

    The aerospace sector managed gains on the day. Ultra Electronics, which supplies targeting systems for fighter aircraft, added 15.1 percent to £11 on bids rumors. BAE Systems was up by 1.8 percent to 347¼p, while Rolls Royce advanced by 1.1 percent to 411¼p.

    Airlines also saw their shares advance. British Airways was up 3 percent to 368¼p on anticipation of broker upgrades after it reports its quarterly figures next month and as oil prices declined. Meanwhile, EasyJet gained 4.7 percent to 436½p.

    BSkyB advanced by 2.5 percent to 544¼p, after its chief executive presented information on its new broadband business to Deutsche Bank.

    The internet gaming sector did not fare as well. SportingBet dropped 3 percent to 174¾p, while PartyGaming was 7.4 percent lower to 87¼p and 888 Holdings fell 9.4 percent to 161p, all on concerns that US shareholders will sell their holdings now that the US Department of Justice is taking measures against gambling on the internet.

    Other big losers included MFI Furniture, which was down 20 percent to 85p, and Colt Telecom, 23.3 percent lower to 436½p.





    July 18, 2006

    Utilities see gains

    Filed under: Companies, BAT, 888 Holdings, PartyGaming, Scottish & Southern Energy, Severn Trent, Kelda, Pennon Group, Sportingbet, BetOnSports, BSkyB, United Utilities, World Gaming

    Both the FTSE 100 and the FTSE 250 were lower in London on Tuesday as the online gaming sector saw further losses. Also affecting investor sentiment was a report that inflation in the UK was up more than had been expected, which could in turn lead to a hike in interest rates from the Bank of England.

    The 100 was 0.3 percent lower on the session to 5,681.7, bringing its losses to 3 percent in the past four days. Meanwhile, the 250 dropped 0.5 percent to 8,968.8.

    The utilities sector had a good day, however. Kelda Group gained 4.2 percent to 844p on bids rumors. Kelda has added 7.1 percent in three sessions. Severn Trent was up 2.2 percent to £12.21, while Pennon Group advanced by 2.1 percent to £13.99. United Utilities added 1.7 percent to 637p on an upgrade to “buy” from Dresdner Kleinwort. Scottish & Southern was up 1.6 percent to £11.66.

    Also seeing an advance was British American Tobacco, up 1.5 percent to £13.70 on a “buy” recommendation from JP Morgan.

    BSkyB was down 4.3 percent to 517½p as investors worried about the satellite broadcaster’s plan to spend £400 million on its new broadband offering.

    The online gaming sector was hit hard by the news that a grand jury in the United States had field charges against BetOnSports. Traing in BetOnSports shares was suspended at 122½p. 888 Holdings dropped 12.7 percent to 168½p, while PartyGaming fell 17.2 percent to 85¼p, SportingBet declined 35.5 percent to 182p, and World Gaming was down 38 percent to 69½p.





    July 17, 2006

    Online gaming sees losses

    Filed under: Companies, Xstrata, Anglo American, 888 Holdings, PartyGaming, Kazakhmys, Rio Tinto, Antofagasta, BHP Billiton, Sportingbet, BetOnSports, BSkyB

    The London equities markets were lower on Monday, primarily due to declines in the mining sector. The losses were tempered somewhat late in the day, following a rally in the New York markets. The FTSE 100 ended up just 0.12 percent lower at 5,701, while the FTSE 250 was down 0.65 percent to 9,017.1. Volume was again low, with only 2.4 billion shares traded.

    Another sector that saw substantial losses was online gaming. 888 Holdings was down 3.5 percent to 193. PartyGaming dropped 5.5 percent to 103p, while SportingBet fell 13 percent to 282p and BetOnSports declined by 15.6 percent to 122½p. A major reason for the declines in this sector was the detention by US authorities of David Carruthers, chief executive of BetOnSports.

    Among miners, BHP Billiton was down 1 percent to £10.10, while Rio Tinto dropped 1.8 percent to £26.76. Anglo American fell 1.3 percent to £12.07 on a steep drop in the price of gold. A similar decline in the price of copper sent Kazakhmys 2.9 percent lower to £11.56 and Antofagasta was down 3.3 percent to 405p. Copper prices dropped when a six-week strike by mine workers in Mexico was ended. Xstrata was 3.7 percent lower to £19.86 as investors worried that it might submit a higher bid for Falconbridge, the Canadian nickel producer.

    Elsewhere, BSkyB added 1.5 percent to 541p on a reiteration UBS “buy” recommendation as the pay-TV operator readied the launch of internet broadband.





    June 12, 2006

    Online gaming declines over US legislation worries

    Filed under: Companies, BA, 888 Holdings, PartyGaming, Empire Online, Vodafone, Crest Nicholson, Imperial Tobacco, McCarthy & Stone

    The London equities markets were lower on Monday, as the FTSE 100 ended the day down 0.6 percent to 4,620.9 and the FTSE 250 closed at 8.981.2, a decline of 0.5 percent.

    Worry over a vote in the US House of Representatives coming up this week on a bill that would make gambling on the internet illegal in the United States sent shares in internet gaming companies lower on the day. PartyGaming dropped 1.95 percent to 113p and 888 Holdings lost 3 percent to 191p. Even with a “buy” recommendation from Canaccord, Empire Online lost 10.1 percent to 82p.

    Homebuilders were mixed on the day. McCarthy & Stone was up 0.9 percent to 869p on rumors that it has had inquiries from two sets of private equity groups. However Crest Nicholson dropped 0.4 percent to 498p even though there have been indications that the 23.3 percent of the builder currently owned by Heron International might soon be sold.

    Bid rumors were also circulating in the tobacco sector, as there was talk that Imperial Tobacco could be readying a bid for Franco-Spanish tobacco company Altadis. Imperial lost 0.5 percent to £16.36.

    Telecommunications company Vodafone lost 2.5 percent to 117½p as an attempt by shareholders to unseat the company’s chief executive seemed destined to fail.

    British Airways, however, added 1.5 percent to 346½p as crude oil prices were down substantially when the first tropical storm of the season looked as if it would miss Gulf of Mexico oil production facilities.





    May 3, 2006

    Oil, mines hold London markets back

    Filed under: Companies, Northern Rock, BG Group, BP, Cairn Energy, 888 Holdings, PartyGaming, Kazakhmys, Sportingbet, Mitchells & Butlers, SCi Entertainment

    In London on Wednesday, declines in the oil sector and online gaming, as well as a weak start to the trading day in New York all combined to send the FTSE 100 and FTSE 250 down on the day. The 100 was down by 1.2 percent to 6,010, while the 250 was off by 0.3 percent to 9,896.3.

    The news that a bill prohibiting online gambling in the US had gone before a congressional subcommittee sent shares in UK online gaming companies down on the day. PartyGaming dropped 4.5 percent to 148p, while Sportingbet lost 4.6 percent to 402p and 888 Holdings was down by 5.8 percent to 230½p. Even though many analysts believe that the legislation will survive the committee, most do not believe it will be approved when the full House of Representatives votes on it, most likely in June.

    Falling crude oil prices sent BG Group down 2.3 percent to 745½p. BP lost 1.6 percent to 677p, and Cairn Energy dropped 0.6 percent to £24.33.

    Miner Kazakhmys dropped 3.8 percent to £11.49 on disappointing production levels in the first quarter.

    Gainers on the day included Northern Rock. The bank added 2.4 percent to £10.96 on an upgrade to “buy” from Deutsche Bank. Meanwhile, pubs operator Mitchells & Butlers, which added 7 percent to 516p on hopes of an offer by financier Robert Tchenguiz, and computer games company SCi Entertainment gained 4.3 percent to 537p on hopes that its new game will be a hit.





    April 27, 2006

    Miners, oil lower in London

    Filed under: Companies, Lloyds TSB, Royal Dutch Shell, BP, Cairn Energy, Xstrata, Anglo American, 888 Holdings, PartyGaming, Antofagasta, Sportingbet, BetOnSports

    The London equities markets ended lower on the day Thursday on sell-offs in the mining sector and declines in oil as crude prices fell. The FTSE 100 was down 0.73 percent to 6,060 and the FTSE 250 dropped 0.72 percent to 9,925.6.

    Some of the biggest gainers on the day were in the online gaming sector. The advances came after the American Gaming Association recommended that the US Congress undertake a one-year study to determine whether it would be better to legalize and regulate online gambling rather than to try and outlaw it. The significance of the recommendation, according to some analysts, is that this was the first indication that the AGA would support online gaming.

    BetOnSpsorts was up 5.2 percent to 169p, PartyGaming added 4.6 percent to 152¾p, 888 Holdings gained 2.95 percent to 244p, and Sportingbet rose by 2.4 percent to 431p.

    In the banking sector, Lloyds TSB was up 0.2 percent to 533p after ABN Amro reiterated its “trading buy” recommendation on the bank, saying that the same factors that allowed it to add 9 percent to revenues in the last half of last year were still operative presently.

    Miners lost ground on the news that China had increased interest rates. Antofagasta dropped 4.4 percent to £23.58, while Anglo-American was down 3.4 percent to £23.34 and Xstrata declined by 3.2 percent to £20.15.

    In the oil sector, meanwhile, Royal Dutch Shell’s B shares were down 2.2 percent to £19.93, BP dropped 2 percent to 683½p, and Cairn Energy was off 1.5 percent to £23.57. Besides the decline in crude oil prices, the news from China on interest rates was also a factor in the sector’s retreat.





    April 6, 2006

    FTSE 100 stays above 6,000

    Filed under: Companies, Prudential, Corus, 888 Holdings, PartyGaming, Kazakhmys, International Power, British Energy, Alliance & Leicester, Vodafone, Barclay's, National Grid, Johnson Matthey, Sportingbet

    London equities markets were in record territory again on Thursday as the FTSE 100 established another five-year high when it closed up slightly to 6,045.7 and the FTSE 250 added 0.2 percent to end at another all-time high. Volume was at 3.6 billion shares traded.

    Utilities ere up after Deutsche Bank issued positive comments on British Energy, which gained 2.4 percent to 694p. National Grid gained 1.1 percent to 578½p, while International Power added 1.3 percent to 291¾p.

    Deutsche Bank also helped Corus with an upgraded recommendation, from “hold” to “buy” and a target share price increase from 80p to 100p. The steel maker added 2.6 percent to 89¼p. In other metals, high prices helped copper miner Kazakhmys add 3.1 percent to £12.69. Platinum company Johnson Matthey advanced by 4.9 percent to £15.10.

    The banking sector was mixed on bid news. Decreasing talk of an offer took Allaince & Leicester down 2.8 percent to £11.61, but Barclays was up 1.2 percent to 686p on new rumors that Citigroup is considering a bid.

    Vodafone added 0.6 percent to 124½p on speculation that the mobile phone group was thinking about entering the fixed line telecommunications market.

    In the insurance sector, Prudential gained 4 percent to 677 ½ p on talk that Axa might make a bid. Analysts were mixed on exactly how serious the rumors were, with some saying that some investors could gain on the mere speculation that an offer might be forthcoming.

    The online gaming sector was up after indications that efforts in the US to make gambling online illegal were not gathering a great deal of support. PartyGaming added 10 percent to 142½p, while 888 Holdings gained 8.6 percent to 240p and Sportingbet was up 10.6 percent to 421p.





    February 14, 2006

    London markets down in early trade

    Filed under: Companies, Prudential, Xstrata, 888 Holdings, PartyGaming, Rio Tinto, British Land, Land Securities, BHP Billiton, Aviva, Rolls Royce, Cadbury Schweppes

    In mid-morning trade on Tuesday, the London equities markets were down, with the FTSE 100 down by 0.1 percent to 5,787.6 after early gains. The FTSE 250 was also down 0.1 percent to 9,321.4.

    The biggest losers were in the online gambling sector. PartyGaming lost 5.9 percent on the FTSE 100 to trade at 121p while 888.com dropped 5 percent to 187¾p. 888.com trades on the FTSE 250.

    On the other hand, properties firms British Land and Land Securities were up after British Land said that its net asset value and its underlying profits were both up. British land advanced by 0.5 percent to £11.91½. Land Securities saw even more of a jump in its shares, gaining 1.6 percent to £17.97.

    The mining sector was up as well, with Asian commodities prices firmer. Rio Tinto gained 1.7 percent to £27.79, BHP Billiton was up 1.4 percnet to 956½p, and Xstrata advanced by 1.1 percent to £16.27.

    Life assurers were up as well, with Aviva and Prudential each gaining 1 percent to 758½p and 604p respectively.

    Engine manufacturer Rolls Royce gained 1.6 percent to 434½p on an upgrade to “buy” from “neutral” by Merrill Lynch.

    Cadbury Schweppes also benefited from an upgrade to “buy” from “hold” and a raised target price of 620p, up from 565p, by Citigroup. The confectioners gained 1.6 percent to 566½p.





    September 29, 2005

    Gaming companies see fall in investor optimism

    Filed under: 888 Holdings, PartyGaming, IG Group, Hilton Group, Boots, DSG international, Regal Petroleum

    The equities markets in London were down on Thursday, with the FTSE 100 losing 0.3 percent to 5,478.2 and the FTSE 250 declining by 0.1 percent to 7,925.1.

    There were 3.1 billion shares traded on the day.

    In its debut, online gaming company 888 Holdings started with a share price of 175p, gained to as much as 183¼p, and then slid to end the day down 3.7 percent to 168½p as investors took into account the fact that interest in online gaming might be slowing.

    Another online gaming group, PartyGaming, was down 3.7 percent to 91¾p. But spread betting company IG Group was up 3 percent to 172p as it said recent trading volumes had been good.

    Leisure company Hilton Group, the owner of Ladbrokes, was up 2.4 percent to 315p on recommendations from ABN Amro and Deutsche Bank.

    Retailer Boots was down 3.3 percent to 608½p after reporting that second quarter revenues in its core chain were down 1.6 percent. DSG international, which owns Dixons, lost 2 percent to 150p. Regal Petroleum fell 31.8 percent ton the day to 88p on its interim results and as a result of the confirmation that there is a legal challenge being offered to its Ukranian oil licenses.





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