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    July 3, 2007

    Greene King up almost 8 percent

    Filed under: Companies, BG Group, Enterprise Inns, Antofagasta, Lonmin, British Energy, Kelda, Greene King, Punch Taverns

    In London on Tuesday the FTSE 100 was 0.75 percent higher to 6,639.8, while the FTSE 250 added 1.85 percent on the session to close at 11,747.6.

    Punch Taverns was the best performer on the 100, adding 3.44 percent to £12.62, helped by the even bigger rise on the 250 of fellow pubs operator and brewer Greene King (LSE: GNK), which gained 7.92 percent to £10.36.

    Greene King said that the new ban on indoor smoking in public places in the UK had not hurt it, as around 95 percent of its pubs have outdoor smoking areas.

    It also said that it is focusing on food service in an effort to bring in more female customers and families, and that it is looking at splitting 870 of its 1,400 pubs into separate operating and property companies in order to bring more value from its properties.

    Enterprise Inns (LSE: ETI) also felt the benefit of Greene King’s gains, adding 2 percent on the session, to 687p.

    Elsewhere, some miners saw gains again. Antofagasta (LSE: ANTO) gained 2.87 percent to 646p, while Lonmin (LSE: LMI) was up 3.13 percent to £43.10.

    Energy related companies, however, did not do as well. Oil and natural gas producerr BG Group (LSE: BG; NYSE: BG) dropped 0.9 percent to 824p, while utility Kelda Group (LSE: KEL) was 1.31 percent lower to 943p. Electricity generator British Energy (LSE: BGY) had the worst day on the 100, dropping 1.4 percent to 527p.





    January 23, 2007

    FTSE 100 adds 0.6 percent on session

    Filed under: Companies, BG Group, Royal Dutch Shell, BP, Tesco, J Sainsbury, Wm Morrison, Smith & Nephew, WH Smith, Gyrus

    Equities markets were mixed in London on Tuesday. The FTSE 100 added 0.6 percent to 6,227.6, while the FTSE 250 fell 0.6 percent to 11,102.2.

    Oil companies were higher on takeover rumors, as it was said that either Royal Dutch Shell or BP could be interested in bidding on BG Group. Shell added 0.6 percent to £17.18, while BP gained 0.7 percent to 545p and BG Group was 1.7 percent higher to 662½p.

    Supermarkets were also higher on the session. Wm Morrison was up 0.1 percent to 284p on positive comments from Deutsche Bank, which reconfirmed its “buy” recommendation and target share price of 320p. Elsewhere in the sector, Tesco gained 0.3 percent to 415¼p, while J Sainsbury added 0.8 percent to 438p on talk that private equity has approached with a bid.

    In other retail news, magazine and bookseller WH Smith gained 5.6 percent after it issued a positive trading statement.

    Among makers of medical devices, Smith & Nephew was 2.3 percent higher to 566¾p after it announced a special dividend and held out the possibility of more cost cutting measures. Goldman Sachs said that the company, thought to be a possible bid target from private equity, would forestall such a bid. Elsewhere in the sector, Gyrus added 1.1 percent to 406¾p.





    September 11, 2006

    Telecoms best market to advance

    Filed under: Companies, BG Group, BP, BHP Billiton, Aquarius Platinum, Vodafone, BT Group, Cable and Wireless, Next, Vedanta Resources, JKX Oil & Gas

    The London equities markets saw declines on Monday as oil and miners were both lower on declining prices. The FTSE 100 dropped 0.5 percent to 5,850.8, while the FTSE 250 was 0.9 percent lower to 9,523.1. Volume was low, with only 2 billion shares trading hands.

    The oil sector was down as crude oil prices continued to decline. BP ended the session at 583p, 1.3 percent lower, while BG Group dropped 2.6 percent to 659½p. Among mid-cap oil companies, JKX Oil & Gas declined 6.8 percent to 258¼p.

    Miners were lower as well, as investors continued to worry that interest rates in China would be raised in order to slow growth there. BHP Billiton was 4.9 percent lower to 934p, Vedanta Resources dropped 6.2 percent to £12.39, and Aquarius Platinum fell 10.1 percent to 841½p.

    In the retail sector, Next was 1.1 percent lower to £17.09 on doubts that rumors on Friday that private equity firms were interested in bidding would end up producing anything concrete.

    The telecommunications sector did better on the session. Vodafone, with its Vodafone Italia division its second most lucrative asset, was 1.9 percent higher to 114¾p on the news that Telecom Italia’s board had met to consider restructuring that could include the sale of its wireless business. BT Group added 1.9 percent to 253¼p after it won a contract to provide Vodafone’s UK customers with broadband internet. Cable & Wireless, which was also in the running for the Vodafone contract, was still up 0.2 percent to 125½p.





    September 5, 2006

    Centrica up, other UK utilities decline

    Filed under: Companies, BG Group, Royal Dutch Shell, DSG international, Kazakhmys, Centrica, Scottish & Southern Energy, Next, Scottish Power, United Utilities, Premier Oil

    London equities markets were up on Tuesday, but just barely, with the FTSE 100 adding 0.08 percent to 5,918.7 and the FTSE 250 gaining 0.01 percent to 9,761 in a late rally that brought both indices up from earlier declines. Volume was a bit higher at 2.8 billion shares trading hands during the session.

    The oil sector was helped higher on the day by bid rumors. Royal Dutch Shell was said to be interested in bidding for both BG Group, which added 0.9 percent to 690½p, and for Premier Oil, which ended the session 2.1 percent higher to £10.65. Royal Dutch Shell itself gained 0.1 percent to £18.96.

    Utilities ended the session lower, with the exception of Centrica, which owns British Gas. Centrica added 1.9 percent to 308¼p even though Gazprom denied rumors that it was interested in making a bid. Vattenfall has also been said to be interested. Elsewhere in the sector, Scottish & Southern dropped 0.4 percent to £12.21, while Scottish Power was 0.5 percent lower to 625½p and United Utilities fell 0.7 percent to 685½p.

    In the retail sector, Next was 0.6 percent higher to £16.67 after Man Securities recommended that its clients buy on the strength of a prediction that margins will increase even if sales decline. Meanwhile, DSG International gained 0.9 percent to 209¾p on positive comments from Merrill Lynch.

    Among miners, Kazakhmys added 3.4 percent to £13.31 on a repot that its half-year report will show operating profits up by 121 percent.





    August 17, 2006

    UK miners up on M&A rumors

    Filed under: Companies, Carnival, BA, BG Group, Royal Dutch Shell, Cairn Energy, Corus, Anglo American, EasyJet, Vedanta Resources, SAB Miller

    In London’s equities markets on Thursday, the FTSE 100 was up, but only by 3.8 points to 5,900.4 and the FTSE 250 added 0.4 percent to 9,486.6 as miners and airlines saw advances but the oil sector was mostly lower.

    Dropping crude oil prices sent shares in air carriers up as British Airways added 2.7 percent to 293p and EasyJet was 3 percent higher to 425½p. Lower costs for oil also helped cruise operators, as Carnival gained 6.4 percent to £21.72.

    The oil sector, on the other hand, saw losses on the day as both Royal Dutch Shell and BG Group fell 1 percent, to £19.17 and 708p respectively. The exception was Cairn Energy, which added 3 percent to £20.80 on Merrill Lynch’s repeated “buy” recommendation, which cited the IPO of Cairn’s India operations as likely to send share prices higher.

    Bids rumors sent the mining sector higher. Anglo American added 2 percent to £24.20 as Morgan Stanley commented that mergers and acquisitions are driving the sector and raised the miner’s recommendation from “underweight” to “overweight”. Meanwhile, Vedanta Resources gained 3.1 percent to £13.83 on positive comments from Goldman Sachs.

    M & A rumors also sent Corus Group up by 3.2 percent to 407½p with the talk that Evraz and Severstal are both looking at offering for the steel maker.

    Among loser on the day was SAB Miller, which dropped 2.9 percent to £10.40 when UBS lowered their recommendation on the brewer from “buy” to “neutral”.





    June 28, 2006

    FTSE 100 closes at 5,678.6

    Filed under: Companies, BG Group, Royal Dutch Shell, BP, Corus, PartyGaming, Severn Trent, EMI, United Utilities

    The FTSE 100 was up by 0.5 percent to 5,678.6 in London on Wednesday as the oil sector saw gains as crude oil prices were up again. The FTSE 250, however, dropped slightly to 9,197.2. Trade volumes remained below average, with only 2.4 billion shares changing hands.

    BP added 0.9 percent to 618½p, BG Group was up 1.2 percent to 707p, and Royal Dutch Shell gained 1.4 percent to £18.41. Merrill Lynch confirmed its “overweight” rating for the sector as a whole.

    PartyGaming dropped 2.1 percent to 113½p. Analysts believe that the drop is due to selling of the internet gaming company’s stock, which they bought earlier this month when four of PartyGaming’s founders sold 5 percent of the company.

    In the media sector, EMI added 8.4 percent to 307½p on the news that it has turned down an offer worth 320p per share from Warner Music.

    Corus Steel added 1.3 percent to 434p amid rumors that it has received a bid from either Severstal of Russia or Tata Steel of India. Earlier in the week, Severstal failed to completel a deal with Arcelor.

    In the utilities sector, Severn Trent dropped 3.1 percent to £11.35 and United Utilities fell 3.3 percent to 630p.





    June 23, 2006

    UK energy sector gains after US deals

    Filed under: Companies, BG Group, Royal Dutch Shell, BP, Cairn Energy, SAB Miller, Hanson, Wolseley, Persimmon

    In London on Friday, trade in equities was slow again with only 2.1 billion shares changing hands during the session. The activity left the markets higher for the day, but only just, with the FTSE 100 adding 0.1 percent to 5,692.1 and the FTSE 250 up 0.03 percent, just 2.4 points, to close at 9,195.3. Both the 100 and the 250 were up for the week, by 1.7 percent and 1.1 percent respectively.

    The oil sector was largely responsible for the 100’s gains on the day. Royal Dutch Shell gained 1.4 percent to £18.21, while BP was up 2 percent to 617p. Deutsche Bank put its target share price for BP at 800p, and issued an upgrade for Shell to “buy” and set its target share price to £21.

    Energy companies saw advances as well, spurred on by news that in the US Anadarko Petroleum has purchased both Kerr-McGee and Western Gas Resources in separate cash deals. BG Group gained 2.7 percent to 695p, while Cairn Energy added 4.8 percent to £20.71.

    SABMiller dropped 1.5 percent to 960p after comments from Merrill Lynch said that the brewer might have to cut its earnings forecasts due to continuing weakness in the South African rand, which was at a two and a half year low of 7.53 rand to the dollar on Friday. SABMiller has lost almost 18 percent since May 11.

    In the construction materials sector, Wolseley added 0.5 percent to £11.55 and Hanson was up 2 percent to 651½p as the US dollar gained value in relation to sterling. Because both companies get a large portion of their profits in dollars but report earnings in sterling, those earnings show a boos when the dollar strengthens.

    Persimmon gained 1.3 percent to £12.09 after UBS reaffirmed its “buy” recommendation and set a target share price of £16.35 in anticipation of the homebuilder’s half-year results, due next week.





    June 14, 2006

    Mixed day for homebuilders

    Filed under: Companies, Lloyds TSB, BG Group, Royal Dutch Shell, BP, Tullow Oil, AstraZeneca, Crest Nicholson, Bovis Homes Group, George Wimpey, Barratt Developments

    London equities markets were mixed on Wednesday. The FTSE 100 dropped 0.2 percent to 5,506.8, mostly on declines in the oil sector, while the FTSE 250 added 0.7 percent to 8,782.2. 3.3 billion shares were traded on the day.

    Homebuilders were mixed on bids rumors. Crest Nicholson was up 3.6 percent to 505p on speculation that one of its rivals would purchase the 23.4 percent of its shares now held by Heron International. Bovis Homes was the most mentioned possible buyer, sending its shares 2.2 percent lower to 779½p. However, some analysts see either George Wimpey or Barratt Developments as more likely bidders for the shares. Wimpey added 2.7 percent on the day to 428½p, while Barratt gained 1.1 percent to 868p.

    In the banking sector, Lloyds TSB added 2.4 percent to 515p on an upgrade to “overweight” and an increase to 611p in its target share price by Morgan Stanley.

    Bid rumors in the pharmaceuticals sector sent AstraZeneca 2. 5 percent higher to £30.16 on a revival of talk that Novartis will make an offer. The feeling of some analysts is that these rumors have gained new currency due to the bidding war over German drug maker Schering.

    In the oil sector, BP lost 1.3 percent to 586p. Royal Dutch Shell declined by 1.8 percent to £17.35, while BG Group was down 3.3 percent to 635p. Meanwhile, Tullow Oil dropped 2.3 percent to 300¾p even though rumor had it that Royal Dutch Shell might be planning a bid.





    June 13, 2006

    Oil, miners drop on commodity price declines

    Filed under: Companies, BG Group, BP, Cairn Energy, Xstrata, Kazakhmys, Antofagasta, BHP Billiton, Alliance & Leicester

    The London equities markets had another losing day on Tuesday as it reacted to falling Asian markets and sell-offs of commodities. Some investors were also busy shedding risky shares ahead of new data on US consumer prices, due on Wednesday. The FTSE 100 dropped 1.8 percent on the day to 5,519.6, while the FTSE 250 ended the session at 8,721.7, 2.9 percent lower. Activity was heavy, with 4 billion shares traded on the day.

    Miners fell as prices for gold and copper dropped substantially. Kazakhmys was down 7.1 percent to 948½p, while Antofagasta dropped 5.4 percent to £18.08, BHP Billiton lost 4.7 percent to 910p, and Xstrata declined by 4 percent to £18.19.

    The oil sector also saw losses as crude oil prices fell as low as they have been in two months. BP fell 2.2 percent to 594-, BG Group was down 3.2 percent to 657p, and Cairn Energy was down by 4.7 percent to £18.91.

    In the banking sector, Alliance & Leicester dropped 5.5 percent to £10.90 after Credit Agricole bid for Greek bank Emporiki even though analysts expressed the opinion that this new bid did not mean that Agricole had lost interest in bidding for A&L. Additionally, a spokesman for Agricole said that one deal had nothing to do with inclination or not to pursue the other.





    June 8, 2006

    London-listed miners down significantly

    Filed under: Companies, BG Group, BP, Anglo American, Rio Tinto, BHP Billiton, Centrica, Wm Morrison

    Only six stocks on the FTSE 100 in London managed to end the session on a positive note on Thursday as the 100 dropped 2.5 percent to close at 5,562.9. This took the blue-chip index to 9.4 percent below the 5 ½ year high it reached in April. The FTSE 250 did even worse on the day, closing down 2.5 percent to 8,813.7, it’s lowest close since December. Miners and oil were major factors in the declines.

    In the mining sector, share values fell as metals prices declined. BHP Billiton decline by 6.5 percent to 935½p, while Anglo American lost 6.8 percent to £18.45 and Rio Tinto dropped 7 percent to £25.80.

    Crude oil prices dropped on the news that al-Queda leader Abu Musab al-Zarqawi had been killed in an air raid in Iraq. The price declines came on the theory that the terrorist’s death would lead to a decline in disruptions to oil production there. Lower oil prices led to declines share value for oil companies. BG Group dropped 2 percent to 676p, while BP lost 3.4 percent to 603p.

    Among gainers on the day were Centrica, the owner of British Gas, which added 1.4 percent to 279p. The gain came as rumors spread that Gazprom is looking to take a 10 percent stake in British Gas. Some analysts, however, pointed out that a similar rumor in February did not lead to an actual purchase by Gazprom.

    William Morrison also was up, by 0.2 percent to 195½p, also on bid rumors. Talk had it that Icelandic investment group Baugur and Allan Leighton were thinking about taking over the supermarket operator.





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