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    September 17, 2007

    Northern Rock loses another 35 percent

    Filed under: Companies, Northern Rock, Enterprise Inns, Bradford & Bingley, Alliance & Leicester, BT Group, Northern Foods, Smith & Nephew, Persimmon, Barratt Developments, Minerva, Sage, Gyrus, Hikma Pharmaceuticals, Go-Ahead Group

    London’ equities markets saw substantial declines again on Monday.

    The FTSE 100 was 1.69 percent lower to 6,182.8 and the FTSE 250 dropped 1.91 percent to 10,745.3.

    Northern Rock (LSE: NRK) was the biggest decliner on the 100 as it fell 35.45 percent to 282.75p, followed closely by Alliance & Leicester (LSE: AL) with a drop of 31.27 percent to 600p.

    Over on the 250, mortgage lender Bradford & Bingley (LSE: BB) was 15.39 percent lower to 279p.

    But the worst performer on the 250 was property developer Minerva (LSE: MNR), which was down 16.34 percent to 216.25. House builders fell on the 100.

    Persimmon (LSE: PSN) dropped 6.89 percent to 946p, while Barratt Developments was 7.29 percent lower to 769p.

    Pubs operator Enterprise Inns dropped 7.37 percent to 578p. Back on the 250, surgical supplies company Gyrus Group (LSE: GYG) was 8.08 percent lower to 398p.

    The best performer of the session on the 250 was drug maker Hikma Pharmaceuticals (LSE: HIK) with a gain of 4.68 percent to 425p.

    Northern Foods (LSE: NFDS) added 4 percent to 97.5p, while rail and bus transport firm Go-Ahead Group (LSE: GOG) was up 1.66 percent to £25.18.

    Software maker Sage Group (LSE: SGE) had the best day on the 100, where it gained 2.77 percent to 250p.

    Medical devices manufacturer Smith & Nephew (LSE: SN) added 0.7 percent to 572p, while in the telecommunications sector BT Group (LSE: BT.A; NYSE: BT) was 0.16 percent higher to 316.75p.





    August 30, 2007

    Mixed day for property developers

    Filed under: Companies, BG Group, Enterprise Inns, DSG international, SAB Miller, Kingfisher, Barratt Developments, Liberty International, Hunting

    The London markets were higher Thursday.

    The FTSE 100 added 1.3 percent to 6,212 and the FTSE 250 was 1.91 percent higher to 11,099.5.

    Property developers and investors were mixed on the session. While Liberty International (LSE: LII) was 3.78 percent higher to £11.80, Barratt Developments (LSE: BDEV) was 0.22 percent lower to 903p.

    Retailers saw declines.

    Kingfisher (LSE: KFG) fell 0.24 percent to 207p and DSG International (LSE: DSGI) was the worst performer on the 100 with a decline of 1.59 percent to 154.8p.

    In the oil sector, BG Group (LSE: BG; NYSE: BG) had the best day on the 100, gaining 4.27 percent to 782p as oil prices rose.

    Still, oil refiner Hunting (LSE: HTG) was the worst perfomer on the 250, dropping 7.28 percent to 700p.

    Other gainers on the day included pubs operator Enterprise Inns (LSE: ETI), which added 3.17 percent to 634.5p.

    Brewer SAB Miller (LSE: SAB) was 3.51 percent to £13.26.





    August 28, 2007

    Banks lower on exposure to US subprime sector

    Filed under: Companies, BA, Enterprise Inns, PartyGaming, Lonmin, Aquarius Platinum, Alliance & Leicester, Barclay's, HSBC, Drax Group, Punch Taverns, Henderson Group, John Wood Group, Keller Group

    London’s markets were lower on the session Tuesday.

    The FTSE 100 fell 1.9 percent to 6,102.2 while the FTSE 250 dropped 1.6 percent to 10,793.8.

    Banks were down there as well, on reports of substantial exposure to the troubled US subprime market.

    Even though the banks issued denials, Alliance & Leicester (LSE: AL) fell 3.91 percent to £10.08, while Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) dropped 3.6 percent to 589p and HSBC Holdings (LSE: HSBA; NYSE: HBC; Euronext: HSBC; SEHK: 005) was 1.9 percent lower to 881p.

    The biggest decliner on the 100, however, was miner Lonmin (LSE: LMI) at a drop of 6.02 percent to £29.81.

    Over on the 250, Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP) fell 5.26 percent to £13.87.

    Online gambler PartyGaming (LSE: PRTY) was the worst performer on the 250; it was 7.14 percent lower to 22.75p.

    The biggest gainer on the 100 was electricity generator Drax Group (LSE: DRX), which added 1.65 percent to 645p.

    Pubs operators were higher.

    Punch Taverns (LSE: PUB) gained 0.1 percent to £10.49, while Enterprise Inns (LSE: ETI) advanced 0.9 percent to 613.5p.

    British Airways (LSE: BAY; NYSE: BAB) was up 0.86 percent to 412.75p.

    Builder John Wood Group had the best day on the 250, adding 4.68 percent to 352.5p.

    Asset managers Henderson Group (LSE: HGI; ASX: HGI) was 4.07 percent higher to 140.75p after Citigroup (NYSE: C) raised its recommendation from “hold“ to “buy“.

    Construction engineers Keller Group (LSE: KLR) gained 2.8 percent to £10.29.





    August 22, 2007

    BHP Billiton up on higher full-year profits

    Filed under: Companies, Northern Rock, Enterprise Inns, Tullow Oil, Standard Chartered, Anglo American, DSG international, Rio Tinto, Antofagasta, BHP Billiton, Lonmin, Scottish & Southern Energy, Vodafone, BT Group, JKX Oil & Gas, Mitchells & Butlers, HSBC, Punch Taverns, Severfield-Rowen, Invesco, Keller Group, Atkins

    In London on Wednesday, the FTSE 100 added 1.81 percent to 6,196 and the FTSE 250 was up 2.55 percent to 10,910.7.

    Miners were higher on the day after BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) announced that its underlying profit was up 35 percent in the full year on increased demand from China and on higher commodity prices.

    BHP was 4.92 percent higher to £13.65, taking other miners with it.

    Anglo-American (LSE: AAL) was up 4.68 percent to £27.52, while Antofagasta (LSE: ANTO) gained 6.19 percent to 694.5p and Rio Tinto (LSE: RIO) added 6.81 percent to £32.80 and Lonmin (LSE: LMI) jumped 7.22 percnet to £31.77.

    Pubs operator Punch Taverns (LSE: PUB) added 6.4 percent to £10.39 on positive broker comment.

    Rivals Mitchells & Butlers (LSE: MAB) and Enterprise Inns (LSE: ETI) were also higher, gaining 3.8 percent to 704p and 5.8 percent to 611p respectively.

    Some banks also saw gains. HSBC (LSE: HSBA; NYSE: HBC; Euronext: HSBC; SEHK: 005) was up 1.2 percent to 907p after it said it will close an office in Indiana next year and will eliminate 600 jobs on account of subprime problems.

    Standard Chartered (LSE: STAN; SEHK: 2888) gained 2.2 percent to £15.75, while Northern Rock (LSE: NRK) added 3.7 percent to 728p.

    Construction-related shares did well on the 250.

    Construction engineering firm Keller Group (LSE: KLR) added 6.88 percent to 987p.

    Atkins (LSE: ATK), which offers construction management and consulting services, was up 8.61 percent to £10.28, while builder Severfield-Rowen (LSE: SFR) was the best perfomrer of the day on the 250 as it gained 8.83 percent to £22.68.

    The oil sector was mixed.

    JKX Oil & Gas (LSE: JKX) had the worst day on the 250, falling 4.25 percent to 354.75.

    On the other hand, Tullow Oil (LSE: TLW; OTC: TUWLY) was 4.4 percent higher to 483p after it said it had made a “significant” discovery offshore near Ghana.

    The worst performer on the 100 was Scottish & Southern Energy (LSE: SSE) with a drop of 2.94 percent to £13.85.

    In the telecommunications sector, Vodafone (LSE: VOD; NYSE: VOD; FWB: VOD) was 0.26 percent lower to 156p, while BT Group (LSE: BT.A; NYSE: BT) dropped 2.24 percent to 305p.

    In the retail sector, DSG International (LSE: DSGI) was down 0.63 percent to 159p.





    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.





    February 2, 2007

    FTSE 250 closes at all-time high

    Filed under: Companies, Enterprise Inns, Marks & Spencer, Tesco, J Sainsbury, Wm Morrison, Mitchells & Butlers, Imperial Tobacco, Kingfisher

    Trade was brisk in London on Friday as 4.2 billion shares traded hands and the FTSE 100 was close to a six-year high. The 100 ended the day up 0.4 percent to 6,310.9, a gain of 1.3 percent on the week. The FTSE 250, meanwhile, added 1.1 percent on the day and 2 percent on the week to close at an all-time high of 11,343.3.

    The supermarkets sector was driven by rumors that private equity is interested in J Sainsbury and especially interested in the properties it holds. Sainsbury added 13.9 percent on the day to 507p, its highest share price in eight years, while fellow grocers Tesco and Wm Morrison were up 3.7 percent to 435p and 5.9 percent to 300¾p respectively.

    Elsewhere in the retail sector, Kingfisher was up 3.5 percent to 252½p, while Marks & Spencer was 4.1 percent higher to 717½p.

    The interest in Sainsbury for its properties also helped other property backed stocks. Pubs operators Enterprise Inns and Mitchells & Butlers were among those seeing gains. Enterprise added 2.8 percent to 665½p, while Mitchells & Butlers gained 4.4 percent to 736p. Mitchells & Butlers was also boosted by its addition by Goldman Sachs to the broker’s “conviction buy” list.

    In the tobacco sector, Imperial Tobacco closed at an all-time high £21.75, a gain of 4 percent that came on an analyst’s report that it could be a bids target for Philip Morris International after it separates from Altria in March.





    January 18, 2007

    London markets gain on session

    Filed under: Companies, Enterprise Inns, Wolseley, ICI, Intercontinental Hotels Group

    The London markets were higher on Thursday, despite the fact that the FTSE 100 dropped almost 45 points late in the session after early trade on Wall Street was weak. The 100 added 0.1 percent to 6,210.3, while the FTSE 250 gained 0.2 percent to 11,122.9.

    Pubs operator Enterprise Inns was the best performer on the 100 for the session. It added 4.3 percent to 658p when Deutsche Bank reconfirmed its “buy” recommendation and 790p target share price. Additionally, Deutsche Bank said that Enterprise would return 50 percent more to shareholders in 2007 than it did in 2006.

    InterContinental Hotels Group also did very well with more than 16 million shares changing hands on rumors that Starwood Capital could be interested in a bid. InterContinental gained 3 percent to £12.55.

    Wolseley was 1.8 percent higher to £13.23 when Merrill Lynch repeated its “buy” recommendation for the plumbing and building materials group.

    Speciality chemicals company ICI dropped 0.2 percent to 478p in spite of rumored activity in the sector. Rumors had it that a consortium of private equity groups are looking to bid on Dow Chemical for the purpose of breaking the company up.





    January 11, 2007

    FTSE ends session 1.1 percent higher

    Filed under: Companies, Lloyds TSB, ITV, Enterprise Inns, Kazakhmys, BHP Billiton, Reuters, Pearson, Persimmon, Reed Elsevier, Redrow, Yell, Punch Taverns

    The FTSE 100 in London had a roller-coaster day in which it was up early, dropped after the Bank of England’s decision to raise interest rates by 25 basis points, then rallied late in the day to end up 1.1 percent higher, to 6,230.1. The FTSE 250 also ended the day higher, adding 0.3 percent to 11,123.4

    Publishers and other media stocks were up on the day. Reed Elsevier and Yell Group each added 3.5 percent on the session, to 602½p and 598p respectively. Yell was helped by positive comments from Goldman Sachs, while Reed Elsevier gained on talk that private equity might be preparing a bid. Reuters gained 3.6 percent to 451¾p. Meanwhile Pearson, which owns the Financial Times, was 3.7 percent higher to 805p. Elsewhere in media, ITV was up 2.1 percent to 109¼p on a upgrade to “buy” from Deutsche Bank.

    Banks saw gains as well, with Lloyds TSB adding 0.9 percent to 583p on rumors that either Banco Santander or BBVA could be interested.

    In the mining sector, Kazakhmys gained 3.9 percent to £10.53, while BHP Billiton was 4.9 percent higher to 930p as metals prices began to recover.

    Pubs operators declined on negative comment from Deutsche Bank. Enterprise Inns dropped 1.7 percent to £12.77 and Punch Taverns fell 3.7 percent to £11.69.

    The homebuilding sector saw losses after interest rates were hiked. Persimmon was 1 percent lower to £14.57, while Redrow fell 3.2 percent to 668½p.





    January 10, 2007

    Telecoms lower in London

    Filed under: Companies, Enterprise Inns, BAT, Vodafone, BT Group, Cable and Wireless, Wm Morrison, Imperial Tobacco, BSkyB, Reed Elsevier, Yell, Punch Taverns

    In London on Wednesday equities markets were lower, with the FTSE 100 down 0.6 percent to 6,160.7 and the FTSE 250 also 0.6 percent lower, to 11,086.

    Publishers, however, did well on the session. Reed Elsevier added 1.2 percent to 582p on comments from Credit Suisse that indicated the Anglo-Dutch publisher could be the target of a leveraged buyout. Yell Group, Yellow Pages publisher, was 2.1 percent higher to 578p on mixed remarks from brokers.

    In the media sector, BSkyB also benefited from broker comments, adding 1.9 percent to 582p after Tuesday’s upgrade from Morgan Stanley.

    Foods retailer Wm Morrison was also higher on the session, adding 6 percent to 286¼p on better sales than expected during the holiday period.

    The tobacco sector was mixed. Imperial Tobacco dropped 0.1 percent to £20.80, but British American Tobacco gained 2.2 percent to £14.91 on positive comments from Dresdner Kleinwort.

    Telecommunications companies saw declines. BT was 1.2 percent lower to 316½p on a downgrade from Investec, while Vodafone dropped 2.5 percent to 145¾p and Cable & Wireless fell 2.9 percent to 156¾p.

    Pubs operators were lower after the chief executive of Enterprise Inns said that the introduction of real estate investment trusts would not likely provide any benefit to shareholders in the short term. Enterprise dropped 2.1 percent to £12.99, while Punch Taverns fell 3 percent to £12.14.





    November 20, 2006

    UK miners up on Freeport-McMoran bid for Phelps Dodge

    Filed under: Companies, ITV, Enterprise Inns, Anglo American, Rio Tinto, Antofagasta, London Stock Exchange, Ladbrokes, BSkyB

    The London equities markets were higher on Monday, with the FTSE 100 helped out by a bid for miner Phelps Dodge by Freeport-McMoran that raised hopes of further consolidation in the mining sector. The 100 added 0.2 percent on the session to 6,204.5. Meanwhile, the FTSE 250 gained 0.1 percent to 10,725.9, aided by a bid from Nasdaq for the London Stock Exchange, which was up 6 percent to £24.45 on the news.

    The media sector was lower after BSkyB took 18 percent of ITV on Friday, which put a roadblock in the way of efforts of NTL to purchase ITV. BSkyB dropped 0.7 percent to 533p as investors figured that the purchase might be a good deal, while ITV was 1 percent lower to 114¼p.

    Ladbrokes fell 1.9 percent to 390¾p on a downgrade from “buy” to “hold” from ABN Amro after an unsatisfactory trading update recently. Elsewhere in the leisure sector, Enterprise Inns added 2.3 percent to £11.67 ahead of its full-year report, due later in the day. Enterprise was expected to continue its share buy-back program instead of making new purchases.

    The mining sector was higher after news of the Freeport-McMoran bid for Phelps Dodge. Anglo American added 2 percent to £24.45, while Rio Tinto was 2.4 percent higher to £27.32 despite the fact that there was some expectation that it might make a counter bid for Phelps. Antofagasta gained 4.1 percent to 476½p.





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