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    October 26, 2007

    Oil, miners higher in London

    Filed under: Companies, Royal Dutch Shell, BP, Xstrata, Rio Tinto, Antofagasta, Centrica, British Energy, J Sainsbury, Kingfisher, Rightmove, Moneysupermarket.com

    London saw gains on Friday on advances in the oil and mining sectors.

    The FTSE 100 was 1.29 percent higher to 6,661.3 and the FTSE 250 was up 0.25 percent to 11,509.6.

    Record-high oil prices sent the oil sector higher.

    BP (LSE: BP; NYSE: BP; TYO: 5051) gained 2.69 percent to 629p, while Royal Dutch Shell’s (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) A shares added 2.95 percent to £21.28 and its B shares jumped 3.01 percent to £21.21.

    Meanwhile in the mining sector, Antofagasta (LSE: ANTO) was up 3.85 percent to 849.5p, while Rio Tinto (LSE: RIO) was 4.3 percent higher to £44.17 and Xstrata (LSE: XTA) gained 5.6 percent to £35.28.

    Retailers took the top spots among both winners and losers on the 100.

    Do-it-yourself retailer Kingfisher (LSE: KFG) added 7.05 percent to 185.3p on takeover rumors, while supermarket chain J Sainsbury (LSE: SBRY) dropped 3.17 percent to 565.5p on the news that a possible bidder is trying to raise enough money for the bid.

    Electricity and natural gas utility Centrica (LSE: CAN) was 2.21 percent lower to 364.25p, while electricity generator British Energy (LSE: BGY) fell 1.82 percent to 538p.

    Over on the 250, internet price comparison sites were mixed. Moneysupermarket.com (LSE: MONY) added 3.85 percent to 202.25p, but property search website Rightmove (LSE RMV) dropped 4.76 percent to 600p.





    September 21, 2007

    Banks mixed in London

    Filed under: Companies, Northern Rock, Tullow Oil, PartyGaming, British Energy, Alliance & Leicester, London Stock Exchange, National Grid, Randgold, Vedanta Resources, Kelda, JJB Sports, Kingfisher, Daejan Holdings

    London’s markets saw gains Friday, with the FTSE 100 up 0.43 percent to 6,456.7 and the FTSE 250 gaining 0.73 percent to 11,094.7.

    Banks were mixed.

    While Northern Rock (LSE: NRK) added 4.91 percent to 194.3p, Alliance & Leicester (LSE: AL) dropped another 2.45 percent to 737p.

    Energy-related shares were mixed as well.

    Electricity generator British Energy (LSE: BGY) turned in the best performance on the 100 with a gain of 6.55 percent to 520.5p, but electric power transmitter National Grid (LSE: NG) was 2.38 percent lower to 759p.

    Elsewhere, water utility Kelda Group (LSE: KEL) fell 3.08 percent to 864.5p.

    Miners were also mixed.

    Vedanta Resources (LSE: VED) added 3.39 percent to £21.35 on the 100, while over on the 250 gold miner Randgold (LSE: RRS; NAS: GOLD) was the worst performer on the 250 with a decline of 4.34 percent to £15.21.

    Back on the 100, do-it-yourself retailer Kingfisher (LSE: KFG) fell 3.48 percent to 174.7 for the worst day on the blue-chip index.

    Sports retailer JJB (LSE: JJB) was also lower, dropping 3.01 percent to 145p.

    PartyGaming (LSE: PRTY) was up 9.47 percent to 26p for the best performance on the 250.

    The London Stock Exchange (LSE: LSE) was up 6.7 percent to £18.

    Tullow Oil (LSE: TLW; OTC: TUWLY) was also higher, with a gain of 5.84 percent to 607p.

    Property developer Daejan Holdings (LSE: DJAN) jumped 6.38 percent to £40.17.





    September 20, 2007

    Retailers mixed in London

    Filed under: Companies, Northern Rock, Carnival, Cairn Energy, Tullow Oil, Anglo American, Kazakhmys, Bradford & Bingley, Alliance & Leicester, J Sainsbury, London Stock Exchange, Friends Provident, Kingfisher, Home Retail, Luminar, Stagecoach

    London’s markets were lower on Thursday.

    The FTSE 100 was down 0.48 percent to 6,429 while the FTSE 250 was 1.1 percent lower to 11,013.8.

    Retailers were mixed on the session, with J Sainsbury (LSE: SBRY) up 2.8 percent to 569p but DIY retailer Kingfisher (LSE: KFG) was down 5.88 percent to 181p and Home Retail (LSE: HOME) fell 5.38 percent to 373.75p.

    The best day on the 100 came from cruise line operator Carnival (LSE: CCL; NYSE: CCL), which added 7.08 percent to £23.74.

    Insurer Friends Provident (LSE: FP) was 4.24 percent higher to 174.7p, while in the mining sector Anglo American (LSE: AAL) gained 1.69 percent to £31.82 and Kazakhmys (LSE: KAZ) was up 1.9 percent to £14.50.

    Northern Rock (LSE: NRK) turned in the worst performance on the 100 once again as it dropped 27.94 percent to 185.2p.

    It was followed by Alliance & Leicester (LSE: AL) with a decline of 7.36 percent to 755.5p.

    The London Stock Exchange (LSE: LSE) had the best day on the 250, gaining 16.10 percent to €16.87.

    The oil sector saw advances.

    Cairn Energy (LSE: CNE) was up 3.79 percent to £20, while Tullow Oil (LSE: TLW; OTC: TUWLY) added 4.37 percent to 573.5p.

    The worst performance of the day on the 250 came from the leisure sector, where bar and restaurant operator Luminar (LSE: LMR) dropped 9.51 percent to 633p.

    Mortgage lender Bradford & Bingley (LSE: BB) was down 8.61 percent to 299.75p, while public transport group Stagecoach (LSE: SGC) fell 5.85 percent to 225.5p.





    September 14, 2007

    Northern Rock in 31.46 percent decline

    Filed under: Companies, Paragon, Northern Rock, Burren Energy, Reckitt Benckiser, Bradford & Bingley, Alliance & Leicester, Dana Petroleum, JKX Oil & Gas, Bellway, Persimmon, Kingfisher, Barratt Developments, Reed Elsevier, Hochschild

    London’s equities markets saw declines on Friday.

    The FTSE 100 1.17 percent lower to 6,289.3 and the FTSE 250 falling 1.95 percent to 10,954.

    Northern Rock (LSE: NRK) had the worst performance by far on the 100, falling 31.46 percent to 438p after it had to ask the Bank of England for help after it could not find a place to borrow money from traditional sources and customers lined up outside branches of the bank to withdraw their money from accounts.

    The trouble extended to other banks, with Alliance & Leicester (LSE: AL) dropping 6.88 percent to 873p.

    Mortgage lenders were also hurt.

    Paragon (LSE: PAG) was down 16.76 percent to 298p for the worst day on the 250.

    It was followed by fellow mortgage lender Bradford & Bingley (LSE: BB), which was 7.7 percent lower to 329.75.

    Homebuilders were also lower on the day.

    Barratt Developments (LSE: BDEV) dropped 4.71 percent to 829p and Persimmon (LSE: PSN) was down 6.62 percent to £10.16 on the 250, while Bellway (LSE: BWY) fell 7.54 percent to £10.67 on the 100.

    Oil-related shares saw gains on the 250.

    Burren Energy (LSE: BUR) was up 1.79 percent to 853p, while Dana Petroleum (LSE: DNX) added 1.94 percent to £10 and JKX Oil & Gas (LSE: JKX) was 2.25 percent higher to 397.75p.

    Gold miner Hochschild (LSE: HOC) had the best day on the 250 as it gained 3.83 percent to 345.25p.

    Chemicals group Reckitt Benckiser (LSE: RB) was the best performer on the 100, adding 1.49 percent to £27.99.

    Publisher Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) was 1.08 percent higher to 608p, and DIY retailer Kingfisher (LSE: KFG) closed at 196.6p, a gain of 0.2 percent.





    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 13, 2007

    Miners, FTSE 250 components see big gains

    Filed under: Companies, Anglo American, Kazakhmys, Antofagasta, Reckitt Benckiser, Johnson Matthey, Kingfisher, ICI, Keller Group, Rathbone Brothers, Avis Europe, Aveva Group, Micro Focus International, ITE Group

    London’s markets rallied Monday as the FTSE 100 added 2.99 percent to 6,219 and the FTSE 250 gained 2.71 percent to 11,184.8.

    The top three gainers on the 100 were all miners, adding value after copper prices were higher.

    Anglo American (LSE: AAL) was up 8.31 percent to £28.16, while Kazakhmys (LSE: KAZ) gained 10.44 percent to £11.95 and Antofagasta (LSE: ANTO) added 10.48 percent to 685p for the best day on the 100.

    Gains on the 250 were even bigger.

    In the electronics sector Aveva Group (LSE: AVV) and Micro Focus International (LSE: MCRO) were 12.69 percent higher to 901p and up 16.8 percent to 288.5p respectively, with Micro Focus having the best day on the 250.

    Construction engineering group Keller (LSE: KLR) was up 16.77 percent to 940p, while investment managers Rathbone Brothers (LSE: RAT) added 12.79 percent to £13.05 and conference and convention organizer ITE Group (LSE: ITE) was 12.77 percent higher to 170p.

    The biggest loser on the 250 on the session was car rental group Avis Europe (LSE: AVE), which dropped 11.76 percent to 45p.

    Kingfisher, meanwhile, had the worst day on the 100 as it fell 1.63 percent to 211.5p.

    Chemicals groups had a mixed day on the 100, with Reckitt Benckiser (LSE: RB) down 0.51 percent to £27.41 while Johnson Matthey (LSE: JMAT) dropped 0.82 percent to £16.90.

    On the other hand, Imperial Chemical Industries (LSE: ICI; NYSE: ICI) added 2.8 percent to 642p after it said it has accepted a bid from Dutch chemicals company Azko Nobel (Euronext: AKZ; NAS: AKZOY).

    In addition, German consumer goods manufacturer Henkel (FWB: HEN3) said it will purchase the adhesives and electronic materials divisions of ICI’s US unit if the Akzo deal is completed.





    July 24, 2007

    FTSE 100 falls nearly 2 percent

    Filed under: Companies, Anglo American, IG Group, Reckitt Benckiser, Lonmin, British Energy, Next, Imperial Tobacco, Kingfisher, Old Mutual, Drax Group, Yell, GAME Group, Home Retail, Sports Direct

    Equities markets in London saw big losses on Tuesday’s session.

    The FTSE 100 fell 1.9 percent to 6,498.7, while the FTSE 250 dropped 1.68 percent to 11,584.

    Retailers were lower after sporting good retailer Sports Direct (LSE: SPD) dropped 22.63 percent to 147p after it issued its second profits warning since it’s IPO in February, prompting negative broker comment.

    Other retailers seeing declines included GAME Group (LSE: EBQ), which fell 6.86 percent to 193.5p.

    Home Retail (LSE: HOME) was 3.28 percent lower to 427.25p, while clothing retailer Next (LSE: NXT) was down 2.66 percent to £18.67 and DIY retailer Kingfisher (LSE: KFG) dropped 2.25 percent to 217.5p.

    Electric power generators were lower as well.

    British Energy (LSE: BGY) had the worst day on the 100 as it fell 4.5 percent to 509p, while Drax Group (LSE: DRX) was 3.84 percent lower to 700.5p.

    Miners were also lower, with Anglo American (LSE: AAL) down 3.81 percent to £31.33 and Lonmin (LSE: LMI) dropping 3.88 percent to £35.90.

    Insurer Old Mutual was 3.93 percent lower to 168.7p after talk that South African bank Nedbank (JSE: NED), in which Old Mutual owns a majority stake, might be the target of a takeover.

    There were gainers on the day.

    Spread betting specialist IG Group Holdings (LSE: IGG) added 9.21 percent to 341p for the best performance of the day on the 250, while consumer products group Reckitt Benckiser (LSE: RB) had the best day on the 100 with a gain of 1.14 percent to £27.48 ahead of its quarterly report.

    Other gainers included phone book publisher Yell Group (LSE: YELL), which added 0.69 percent to 472.5p on positive fiscal first quarter results.

    Imperial Tobacco (LSE: IMT) gained 0.78 percent to £23.13.





    February 16, 2007

    UK retailers gain on broker upgrades

    Filed under: Companies, Amvescap, Next, GCap Media, Kingfisher, Compass Group

    The London equities markets were lower on Friday, with the FTSE 100 down 0.2 percent to 6,149.5. The FTSE 250 dropped 0.1 percent to 11,556.4. Only 2.6 billion shares traded hands in a day of light trade. Despite the slow day and the declines, the 100 added 0.6 percent over the full week and the 250 was up 0.3 percent over the five sessions.

    The retail sector saw gains. After an upgrade from “sell” to “buy” from Societe Generale, Kingfisher added 3.5 percent to 259½p. The broker also raised Kingfisher’s target share price to 342p. Next gained 1.8 percent to £20.93, also on an upgrade. Goldman Sachs raised its rating on the clothing retailer from “neutral” to “buy”, calling it a consolidation target.

    Caterer Compass gained 0.9 percent to 312p after issuing a positive trading update.

    Amvescap was 1.5 percent higher to 632p after it said it was thinking about changing its primary lisitng to the US. The fund manager, which is in process of changing its name to Invesco, does the vast majority of its business in North America. Citigroup said that if Amvescap does switch its listing, share prices could go up. Currently its share price is around 20 percent lower than US rivals such as T Rowe Price.

    In the media sector, Gcap Media dropped 9.9 percent to 217p after UBS placed 13.6 million shares of the owner of Capital Radio for an institutional client at a price of 225p. That number of shares represents 8.2 percent of the company.





    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 16, 2007

    Scottish & Southern Energy adds 2.2 percent

    Filed under: Companies, Centrica, Scottish & Southern Energy, J Sainsbury, Kelda, Scottish Power, Imperial Tobacco, Kingfisher, Gallaher

    London equities markets were lower on Tuesday, with the FTSE 100 dropping 0.8 percent to 6,215.7 and the FTSE 250 falling 0.7 percent to 11,124.5.

    The tobacco sector was mixed on bids rumors. Gallaher was 0.3 percent higher to £11.38 after it was said that Japan Tobacco could be working to purchase more stock. After the close these rumors were borne out as Japan Tobacco said it had added 6.3 million additional shares. Imperial Tobacco, however, dropped 0.5 percent to £20.99, hurt by a report that it would bid for Spanish cigarette maker Altadis sometime during the year.

    There were mixed results in the energy sector as well. Scottish Power was 0.1 percent higher, to 742½p. Scottish & Southern Energy added 2.2 percent to £15.60 for the largest gain of the session on the 100. Both gains came amid bids rumors. Two other energy companies were lower on the session even though they are seen as more likely targets. Kelda dropped 0.1 percent to 926½p, while Centrica fell 0.8 percent to 355¼p.

    In the retail sector, Kingfisher dropped 2.1 percent to 232½p on a downgrade of its long-term credit rating by Standard & Poor’s and a lowered earnings estimate from Lehman Brothers. J. Sainsbury, on the other hand, added 0.8 percent to 424½p on rumors that Lord Sainsbury of Turnville’s 15 percent stake in the supermarket is the target of a financial buyer.





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