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    October 8, 2007

    Northern Rock higher on news report

    Filed under: Companies, Northern Rock, Xstrata, Kazakhmys, British Land, Bradford & Bingley, Alliance & Leicester, Scottish and Newcastle, Vedanta Resources, Minerva, Carpetright, Marston's

    London’s markets were down on Monday.

    The FTSE 100 was 0.83 percent lower to 6,540.9 while the FTSE 250 was 0.54 percent lower to 11,328.7.

    Northern Rock (LSE: NRK) gained 8.83 percent to 172.5p for the best performance on the 100, on a Sunday Times report that Citibank (NYSE: C) could lend the bank £10 billion.

    But Alliance & Leicester (LSE: AL) was lower, falling 2.64 percent to 773p.

    Carpet and floor retailer Carpetright (LSE: CPR) had the best day on the 250, adding 4.13 percent to £11.61.

    Brewer and pubs operator Marston’s (LSE: MARS) was the biggest loser on the 250, dropping 5.51 percent to 347.25, but brewer Scottish & Newcastle (LSE: SCTN) gained 2.05 percent to 622p on takeover speculation.

    Miners were lower on the 100.

    Xstrata (LSE: XTA) was down 3.25 percent to £32.12 and Vedanta Resources was 4.31 percent lower to £20.86, while Kazakhmys (LSE: KAZ) fell the most on the 100, down 5.89 percent to £15.02 on the news that copper cathode production is expected to fall.

    Property developers and investors were lower.

    British Land (LSE: BLND) dropped 2.85 percent to £10.92, while Minerva (LSE: MNR) fell 4.62 percent to 232.25p.

    Mortgage lender Bradford & Bingley (LSE: BB) was down 5.18 percent to 270.25p.





    October 5, 2007

    Kazakhmys leads miners in gains

    Filed under: Companies, Anglo American, Kazakhmys, Antofagasta, British Land, Land Securities, Bradford & Bingley, Alliance & Leicester, Hammerson, Barratt Developments, Severfield-Rowen, Moneysupermarket.com

    Miners led the way in London as the FTSE 100 added 0.73 percent to 6,595.8 and the FTSE 250 gained 0.18 percent to 11,390.4.

    Anglo American (LSE: AAL) was up 2.92 percent to £33.43 and Antofagasta (LSE: ANTO) was 3.25 percent higher to 826p, while Kazakhmys (LSE: KAZ) turned in the best performance on the 100 as it added 4.59 percent to £15.96.

    Meanwhile over on the 250, price comparison website Moneysupermarket.com (LSE: MONY) was the top performer of the day with a gain of 5.57 percent to 189.5p.

    Construction group Severfield-Rowen (LSE: SFR) was up 4.04 percent to £21.10.

    House builders and property developers, however, didn’t do as well over on the 100.

    Land Securities Group (LSE: LAND) was 3.21 percent lower to £16.87, while British Land (LSE: BLND) was down 3.44 percent to £11.24 after it said it will not sell its stake in Meadowhall shopping center after all.

    Barratt Developments (LSE: BDEV) dropped 4.14 percent to 765p while Hammerson (LSE: HMSO) was down 4.26 percent to £11.68.

    But Alliance & Leicester (LSE: AL) turned in the worst performance on the 100 as it fell 6.81 percent to 794p on a broker downgrade.

    Mortgage lender Bradford & Bingley (LSE: BB) did the worst on the 250, dropping 6.58 percent to 285p.





    September 13, 2007

    Miners, telecoms higher in London

    Filed under: Companies, Northern Rock, Anglo American, British Land, BHP Billiton, Lonmin, Alliance & Leicester, BT Group, Cable and Wireless, Shire, JJB Sports, Petrofac, Bluebay, Ashmore, Keller Group, STHREE

    London’s equities markets were mixed Thursday.

    While the FTSE 100 added 0.91 percent to 6,363.9, the FTSE 250 was down 0.42 percent to 11,172.4.

    The biggest gainers on the session on the 100 were in the mining and telecommunications sectors.

    Among miners BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was 2.61 percent higher to £14.94 and Anglo American (LSE: AAL) gained 3.27 percent to €29.08, while Lonmin (LSE: LMI) added 3.66 percent to £34.26.

    The mining gains came on higher base metals prices.

    In the telecommunications sector, BT Group (LSE: BT.A; NYSE: BT) was up 2.9 percent to 319p, while Cable and Wireless (LSE: CW) was the best performer on the 100 with a gain of 4.5 percent to 174.3p.

    The biggest winner on the 250 was in the financial services sector, where Ashmore (LSE: ASHM) added 6.48 percent to 263p.

    Elsewhere in the sector, Bluebay (LSE: BBAY) was 2.98 percent higher to 380p.

    Also gaining on the 250 were construction engineers Keller Group (LSE: KLR), up 3.92 percent to £10.88.

    In the oil sector oil, gas and coal services group Petrofac (LSE: PFC) added 3.47 percent to 462p.

    The worst performance on the 100 came from the banking sector, where Northern Rock (LSE: NRK) dropped 4.91 percent to 639p.

    Still among banks, Alliance & Leicester (LSE: AL) was down 2.7 percent to 937.5p.

    Property developer British Land (LSE: BLND) fell 1.88 percent to £12, while in the pharmaceuticals sector Shire was 2.5 percent lower to £12.46.

    Sports retailer JJB Sports (LSE: JJB) dropped 4.37 percent to 164p, while human resources group STHREE (LSE: STHR) fell 5.34 percent to 323.5p.





    September 7, 2007

    FTSE 100, 250 each lose nearly 2 percent

    Filed under: Companies, BA, British Land, British Energy, BAE Systems, Hammerson, Randgold, Old Mutual, Sage, Punch Taverns, Domestic & General

    London’s markets were down nearly as much as continental markets.

    The FTSE 100 was down 1.93 percent to 6,191.2, while the FTSE 250 fell 1.97 percent to 11,107.7.

    Software developer Sage Group (LSE: SGE) led the 100 with a gain of 1.78 percent to 243p, while insurer Domestic & General (LSE: DGG) topped the 250 as it added 10.28 percent to £13.94.

    However, the insurance sector ended mixed as Old Mutual (LSE: OML; JSE: OLOML) put in the worst performance of the day on the 100, dropping 5.25 percent to 146.2p.

    Other gainers on the day included aerospace group BAE Systems (LSE: BA; OTC; BAESY), which added 1 percent to 452.5p on a report that it has secured a key contract with Saudi Arabia.

    Electricity generator British Energy Group (LSE: BGY) at a gain of 0.7 percent to 468.25p.

    Gold miner Randgold (LSE: RRS; NAS: GOLD), meanwhile, added 8.08 percent to £14.04 on the 250.

    Property developers and investors didn’t do well on the session. Hammerson (LSE: HMSO) was 4.54 percent lower to £12.20, while British Land (LSE: BLND) fell 5.03 percent to £12.26.

    British Airways (LSE: BAY; NYSE: BAB) was down 4.96 percent to 397.25p.

    Pubs operator Punch Taverns (LSE: PUB) dropped 4.8 percent to £10.32 after it issued a profits warning.





    August 23, 2007

    Property developers lose ground

    Filed under: Companies, Lloyds TSB, Northern Rock, Schroders, British Land, Alliance & Leicester, Hammerson, SAB Miller, HBOS, Persimmon, SEGRO, WSP Group

    London’s markets were higher Thursday, although the FTSE 100 only managed a gain of 0.01 percent to 6,196.9.

    The FTSE 250, meanwhile, added 0.32 percent to 10,945.7.

    Property developers and house builders had a bad day on the 100.

    House builder Persimmon dropped 2.30 percent to £12.23 after ABN Amro (Euronext: AAB; NYSE: ABN) reduced its target share price from £17.20 to £15.30.

    Among developers, British Land (LSE: BLND) fell 2.18 percent to £12.58 while SEGRO (LSE: SGRO) was 2.4 percent lower to 529p.

    Hammerson (LSE: HMSO) was the worst performer on the 100, dropping 2.45 percent to £12.75.

    However, in a related sector WSP Group (LSE: WSH), which specializes in construction management, engineering, and consulting, added 3.13 percent to 676.5p.

    Brewer SABMiller (LSE: SAB) was 2.78 percent higher to £12.94.

    Investment manager Schroders (LSE: SDR.L) had the best day on the 100 with a gain of 4.22 percent to £13.34, while its non-voting shares (LSE: SDRt.L) added 3.32 percent to £11.53.

    Among banks, Northern Rock (LSE: NRK) was up 3.98 percent to 757p.

    Other banks seeing gains included Alliance & Leicester (LSE: AL), which added 0.19 percent to £10.61. Lloyds TSB (LSE: LLOY) gained 0.27 percent to 553.5p, while HBOS (LSE: HBOS) was 2.05 percent higher to 898p.





    August 21, 2007

    Property developers mixed in London

    Filed under: Companies, BA, British Land, BHP Billiton, International Power, BT Group, JKX Oil & Gas, Barratt Developments, Drax Group, Intercontinental Hotels Group, Punch Taverns, Michael Page International, Avis Europe

    London markets were mixed Tuesday, with the FTSE 100 up 0.12 percent to 6.086.1 but the FTSE 250 down 0.6 percent to 10,639.3.

    The mixed nature of the indices translated to mixed days within individual sectors.

    For example, while property developer Barratt Developments (LSE: BDEV) was the worst performer of the day on the 100 with a drop of 3.25 percent to 909p, British Land (BLND) added 1.42 percent to £12.15.

    Likewise among electricity generators.

    While International Power (LSE: IPR; NYSE: IPR) added 1.55 percent to 409p, Drax Group (LSE: DRX) fell 2.29 percent to 620p.

    Miner BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) had the best day on the 100, adding 2.04 percent to £13.01 after it said it had moved two drilling rigs from deep water in the Gulf of Mexico ahead of Hurricane Dean.

    Meanwhile on the 250, JKX Oil & Gas was the best performer with a gain of 7.39 percent to 370.5p.

    Other gainers on the day included British Airways (LSE: BAY; NYSE: BAB) at 1.52 percent higher to 401.5p.

    In the telecommunications sector, BT Group (LSE: BT.A; NYSE: BT) gained 1.46 percent to 312p.

    Avis Europe (LSE: AVE) was up 4.42 percent to £47.25.

    Among decliners, pubs operator Punch Taverns (LSE: PUB) was 2.35 percent lower to 976.5p, while Intercontinental Hotels (LSE: IHG; NYSE: IHG) fell 2.33 percent to £10.06.

    Human resources specialist Michael Page International (LSE: MPI) dropped 4.22 percent to 419.5p.





    August 20, 2007

    Power generators see gains in London

    Filed under: Companies, Prudential, Kazakhmys, Rio Tinto, British Land, BHP Billiton, Scottish & Southern Energy, British Energy, BAE Systems, Old Mutual, Drax Group, Reed Elsevier, SEGRO, Daejan Holdings, Meggitt, Southern Cross Healthcare

    In London on Monday the FTSE 100 added 0.24 percent to 6,078.7 while the FTSE 250 was 0.16 percent higher to 10,703.8.

    Power generators had a good day in London.

    Drax Group (LSE: DRX) gained 1.9 percent to 634.5p, while electricity generator British Energy (LSE: BGY) was up 4.58 percent to 451.25p for the best performance on the 100.

    Electricity transmitter Scottish & Southern Energy (LSE: SSE) was 1.7 percent higher to £14.44.

    Miners also did well after metals prices advanced.

    Rio Tinto (LSE: RIO) gained 3.22 percent to £30.78, while Kazakhmys (LSE: KAZ) added 4 percent to £11.70 and BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was 4.17 percent higher to £12.75.

    The aerospace sector was up with BAE Systems (LSE: BA; OTCBB; BAESY) 3.48 percent higher to 431p and Meggitt (LSE: MGGT) adding 4.73 percent to 298.75p.

    The best performer on the 250 was care homes operator Southern Cross Healthcare (LSE: SCHE), which gained 6.93 percent to 470.5p.

    Insurers were mixed.

    Prudential (LSE: PRU; NYSE: PUK) was up 1.1 percent to 657.5p, but Old Mutual (LSE: OML; JSE: OLOML) dropped 2.16 percent to 149.4p.

    Property developers and investors were lower on the session.

    British Land (LSE: BLND) had the worst day on the 100 as it fell 3.46 percent to £11.98. SEGRO (LSE: SGRO) fell 2.66 percent to 513p, while Daejan Holdings dropped 4.86 percent on the 250 to £33.30.

    Publisher Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) dropped 2.61 to 578p.





    July 23, 2007

    Friends Provident adds 7.83 percent on merger talks

    Filed under: Companies, British Land, Barclay's, Friends Provident, Legal & General, Persimmon, Liberty International, Shaftesbury, FKI, GAME Group, SEGRO, Beazley Group, Workspace Group

    The markets were mixed in London on Monday, with the FTSE 100 adding 0.6 percent to 6,624.4 but the FTSE 250 falling 0.38 percent to 11,775.

    Insurer Friends Provident (LSE: FP) was the best performer on the 100 as it added 7.83 percent to 201p after it announced that it is in merger talks with Resolution (LSE: RSL).

    Elsewhere in the insurance sector, Legal and General (LSE: LGEN) was 2.71 percent higher to 155.3p.

    Barclay’s Bank (LSE: BARC; NYSE: BCS; TYO: 8642) gained 3.01 percent to 735p on the news that China will by a stake in the bank so that it can increase its bid for ABN Amro (Euronext: AAB; NYSE: ABN).

    The insurance sector grabbed the top spot on the 250 on the session as well, with special risk insurer Beazley Group (LSE: BEZ) up 5.95 percent to 169.25p.

    Retailer GAME Group (LSE: EBQ) also saw gains, adding 3.4 percent to 205.25p.

    The property investment sector had a rough day.

    Liberty International (LSE: LII) fell 1.7 percent to £11, while SEGRO (LSE: SLOU) - formerly Slough Estates - also dropped 1.7 percent, to 578p.

    British Land (LSE: BLND) was the worst performer on the 100, falling 3.1 percent to £13.14.

    Meanwhile, house builder Persimmon (LSE: PSN) was 1.69 percent lower to £11.64.

    Lifting equipment manufacturer FKI (LSE: FKI) had the worst day on the 250 as it dropped 8.27 percent to 113.75p.

    Property investment groups did no better on the 250 than they did on the 100, as Shaftesbury (LSE: SHB) was 3.99 percent lower to 577p and Workspace Group (LSE: WKP) fell 5.23 percent to 362.5p.





    February 13, 2007

    UK real estate sector declines on profit-taking

    Filed under: Companies, GlaxoSmithKline, Rio Tinto, British Land, BHP Billiton, British Energy, Slough Estates, Liberty International

    Both the FTSE 100 and the FTSE 250 saw gains on Tuesday. The 100 added 0.4 percent to 6,381.8, while the 200 was 0.2 percent higher to 11,475.7.

    The 100 was helped by gains in the mining sector after metals prices were up and on rumors that both Rio Tinto and BHP Billiton are thinking about bidding for aluminium manufacturer Alcoa. Rio Tinto added 2.5 percent to £27.53, while Billiton was 2.6 percent higher, to £10.67.

    In the pharmaceuticals sector, GlaxoSmithKline gained 2.1 percent to £14.91 on a repeated “buy” rating from Collins Stewart. GSK has 10 new products ready to hit the market this year, with 31 at Phase III trials or better.

    The real estate sector was lower on profit-taking and on less than admirable results from British Land in their fiscal third quarter. British Land dropped 3.6 percent to £16.19, while Liberty International fell 2.7 percent to £12.90 and Slough Estates was 1.5 percent lower to 771p. Liberty is scheduled to release its results on Wednesday.

    British Energy was 3.3 percent lower to 410p after it said that one of its nuclear power plants will be closed until April.





    January 25, 2007

    Publisher Pearson gains on bids rumors

    Filed under: Companies, GlaxoSmithKline, British Land, AstraZeneca, Shire, Hammerson, Pearson, Smith & Nephew

    The FTSE 100 dropped 0.6 percent to 6,269.3 in London on Thursday, while the FTSE 250 was 0.2 percent lower to 11,171.1. The 100 briefly reached a six-year high, at 6,335.1, early in the session but dropped later on the slow start in the New York markets.

    Real estate was higher on the session after JP Morgan reminded that the UK sector is currently a better bargain than its European rivals. Hammerson added 0.2 percent to £15.03, while British Land was 0.6 percent higher to £16.21.

    Publisher Pearson added 0.9 percent to 817½p on bids rumors and after Citigroup upped its target share price to 900p.

    The pharmaceuticals sector declined after Credit Suisse said that the sector would extend its underperformance into this year after a sector-wide decline of 5.2 percent last year, mentioning the trouble companies were having bringing new drugs to market and keeping them there once introduced. Shire dropped 1 percent to £10.99, while AstraZeneca fell 1.3 percent to £28.44 and GlaxoSmithKline was 1.4 percent lower to £13.93.

    In a related news, medical devices manufacturer Smith & Nephew was 1.4 percent lower to 570½p after it was suggested that its next report might not show as much of an improvement in margins as is hoped.





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