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    September 12, 2007

    BAE Systems adds over 3 percent on session

    Filed under: Companies, BAT, Tullow Oil, Reckitt Benckiser, BAE Systems, Legal & General, Johnson Matthey, SAB Miller, Carphone Warehouse, Rentokil Initial, Standard Life, Home Retail, Taylor Wimpey, International Personal Finance, AMEC

    London’s markets were higher Wednesday, with the FTSE adding 0.41 percent to 6,306.2 and the FTSE 250 gaining 0.07 percent to 11,219.7.

    Aerospace and defense group BAE Systems (LSE: BA) had the best day on the 100, adding 3.18 percent to 478.25p, while engineering and construction firm AMEC (LSE: AMEC) was the best performer on the 250 with a gain of 4.5 percent to 731.5p.

    The chemicals sector was higher.

    Johnson Matthey (LSE: JMAT) was up 2.3 percent to £16.03, while Reckitt Benckiser (LSE: RB) added 2.74 percent to £27.39.

    British American Tobacco (LSE: BATS; AMEX: BTI; KLSE: BAT) gained 2.57 to £16.79, which consumer goods retailer Home Retail (LSE: HOME) was up 2.5 percent to 410.75p.

    Carphone Warehouse (LSE: CPW) added 3.38 percent to 352p on the news that it will jump from the 250 to the 100 beginning on September 24.

    Tullow Oil (LSE: TLW) and Taylor Wimpey (LSE: TW) will also reportedly be promoted to the 100. Insurers saw declines on the day.

    Standard Life (LSE: SLET) fell 1.2 percent to 288.75p, while Legal & General (LSE: LGEN) was the worst performer on the 100 with a drop of 2.27 percent to 133.4p.

    Pest control group Rentokil Initial (LSE: RTO; OTC: RTOKY) was 1.29 percent lower to 168.7p, while media group ITV fell 1.51 percent to 111p after it said it would sell assets and cut jobs to increase core output.

    Brewer SAB Miller (LSE: SAB) was down 1.7 percent to £13.28.

    The biggest loser on the 250 was International Personal Finance (LSE: IPF), with a decline of 4.78 percent to 224.25.





    September 6, 2007

    Miners lead FTSE 100, 250

    Filed under: Companies, Northern Rock, BG Group, Tullow Oil, Standard Chartered, Rio Tinto, BHP Billiton, Lonmin, Legal & General, Randgold, Vedanta Resources, Drax Group, Benfield Group

    London’s markets saw gains Thursday as the FTSE 100 added 0.68 percent to 6,313.3 and the FTSE 250 gained 0.27 percent to 11,330.8 after the Bank of England‘s Monetary Policy Committee held interest rates steady as well.

    Companies related to commodities filled all five top spots on the 100 and two of the top five places on the 250, including the best performance there.

    Rio Tinto (LSE: RIO) had the best day on the 100 with a gain of 5.42 percent to £37.16.

    Elsewhere in the mining sector Lonmin (LSE: LMI) was 4.71 percent higher to £33.79, while BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) gained 3.95 percent to £14.73 and Vedanta Resources (LSE: VED) was up 3.41 percent to £19.10.

    In the oil sector, BG Group (LSE: BG; NYSE: BG) added 4.83 percent to 824.5p.

    Over on the 250, gold miner Randgold (LSE: RRS; NAS: GOLD) was 6.21 percent higher to £12.99 for the best performance on the 250.

    Tullow Oil (LSE: TLW; OTC: TUWLY) was 4.26 percent higher to 562.5p.

    The worst performance on the day on the 100 came from electricity generator Drax Group (LSE: DRX), which fell 5.63 percent to 637.5p.

    Banks were also lower, with Standard Chartered (LSE: STAN; SEHK: 2888) down 2.11 percent to £14.85 and Northern Rock (LSE: NRK) dropping 3.03 percent to 672p.

    Elsewhere among financial services groups, insurer Legal & General Group (LSE: LGEN) fell 2.34 percent to 138p.

    The worst performer on the 250 was reinsurer Benfield Group (LSE: BFD), which was 5.48 percent lower to 289p.





    July 26, 2007

    Insurers in focus in London

    Filed under: Companies, Rolls Royce, Vodafone, Friends Provident, Legal & General, Intercontinental Hotels Group, Resolution, GAME Group

    The London equities markets fell significantly on Thursday.

    The FTSE 100 was 3.15 percent lower on the session, to 6,251.2, while the FTSE 250 dropped 3.35 percent to 11,033.4.

    Insurers were in focus, as companies in the sector provided both the best and worst performances on the 100.

    On the winning side, Resolution (LSE: REL) added 2.84 percent to 633.5p, while Legal & General (LSE: LGEN) fell 8.24 percent to 138.1p.

    The decline for Legal & General came after it reported that margins had fallen to 3.6 percent and that its non-life unit had lost £38 million on household claims due to flooding.

    L&G also disappointed when it announced a share buyback program worth £1 billion, much less than had been anticipated by analysts.

    Also in the insurance sector, Friends Provident was down 6.65 percent to 181.2p as UBS (NYSE: UBS; SWX: UBSN; TYO: 8657) cut its recommendation from “buy” to “neutral”.

    Other sectors seeing declines on the 100 included hotels operators, as Intercontinental Hotels (LSE: IHG; NYSE: IHG) fell 7.34 percent to £11.11.

    In the telecommunications sector, Vodafone (LSE: VOD; NYSE: VOD; FWB: VOD) dropped 7.23 percent to 145p.

    Airplane engine manufacturer Rolls Royce (LSE: RR) fell 6.46 percent to 496.25p after it reported that profits in the first half were down by 51 percent, affected by the weakness of the US dollar.

    The biggest loser on the 250 was retailer GAME group (LSE: EBQ), with a drop of 7.22 percent to 176.75p.





    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.





    December 1, 2006

    FTSE 100 drops 1.6 percent on week

    Filed under: Companies, Carnival, Cairn Energy, Xstrata, Antofagasta, AstraZeneca, Legal & General, Rank Group, Hanson

    London’s equities markets were mixed on Friday. The FTSE 100 dropped 0.5 percent to close at 6,021.5 after falling as low as 5,985.2 during the day, bringing its decline over the week to 1.6 percent. On the other hand, the FTSE 250 added 0.2 percent on the session and was up by the same amount for the week, to close at 10,698.9.

    Miners were higher, with Xstrata 2 percent higher to £23.26 and Antofagtasta adding 3.2 percent to 495p as Goldman Sachs predicted that commodities prices will be going up further. The broker put Xstrata on its “conviction buy” list.

    Leisure group Rank dropped 2.9 percent to 270p after a rumored bid was not forthcoming and Citigroup downgraded it to “hold”. Meanwhile, cruise operator Carnival fell 1.9 percent to £24.29 on a reduced recommendation, from “buy” to “hold”, from Merrill Lynch.

    In the pharmaceuticals sector, AstraZeneca dropped 2.1 percent to £28.90 as sterling gained ground over the US dollar.

    Among insurance companies, Legal & General fell 2.2 percent to 148½p as bids rumors faded.

    Construction materials group Hanson was 1.4 percent lower to 719p.

    Bucking the trend among the blue-chips, Cairn Energy added 4.4 percent to £20.57. Cairn is preparing to spin off its India unit with an initial public offering in Bombay later this month. That IPO is estimated to be worth as much as $7.5 billion (£3.8 billion). In addition, there was talk that Cairn’s Indian partner, ONGC, might be interested in acquiring Cairn’s assets in Rajasthan.





    November 29, 2006

    FTSE 250 adds 1.5 percent

    Filed under: Companies, Prudential, GlaxoSmithKline, Xstrata, BHP Billiton, AstraZeneca, Shire, Legal & General, Sage

    The London equities markets were higher on Wednesday in reaction to overnight gains in New York and Tokyo, while the pharmaceuticals sector was higher and financial services gained on bids rumors. The FTSE 100 added 0.6 percent to 6,065.3, while the FTSE 250 gained 1.5 percent to 10,659.1.

    Miners were up on higher prices for several metals. BHP Billiton added 1.8 percent to 954p, while Xstrata was 2.1 percent higher to £22.49.

    In the pharmaceuticals sector, AstraZeneca was up 2.5 percent to £30.03. Shire added 2.7 percent to £10.34 on an upgrade from “neutral” to “overweight” from HSBC, while GlaxoSmithKline gained 3 percent to £13.71. Gains in the sector were helped by news that Swiss pharma group Novartis is thinking of selling its baby food unit, Gerber Products, to Nestle.

    Among financial services groups, Prudential was 2.1 percent higher to 660p on rumors that HSBC could be interested, while Legal & General added 3 percent to 154p on talk that Dutch insurer Aegon was thinking of bidding.

    In the software sector, Sage added 6.2 percent to 256p on its report that its pre-tax profits were up 14 percent in the quarter. Meanwhile plumber Wolseley gained 3.8 percent to £11.78 even though its fiscal first quarter profits were up only slightly.





    June 19, 2006

    Marekt volumes light in London due to World Cup

    Filed under: Companies, Prudential, ITV, Friends Provident, Legal & General, Royal & Sun Alliance, EMI, De Vere, BSkyB, Marylebone Warwick Balfour

    In London on Monday, the FTSE 100 added 0.5 percent to 5,626.1, while the FTSE 250 was up 0.2 percent to 9,114.1. Trade was light, with just barely over 2 billion shares changing hands during the day. Light trade is expected to last throughout the week as investors are distracted by the World Cup.

    Among media companies, ITV - down 17 percent since March, when it rejected an offer from a private equity consortium - was up slightly to 105¼p on the possibility that it might announce an increased share buyback and more cost-cutting measures on Wednesday. Elsewhere in the sector, BSkyB gained 2.3 percent to 564p on positive comments from Lehman Brothers. EMI added 2.8 percent to 278¾p when Credit Suisse raised the music group’s target share price from 300p to 310p. In addition, there was talk that EMI might revise its offer for Warner Music.

    Hotel operator De Vere added 3 percent to 824p on weekend reports that said four different bidders have expressed interest. The latest possible bidder named is Richard Balfour-Lynn, the head of Marylebone Warwick Balfour, which gained 3.3 percent to 189½p.

    In the insurance sector, Royal Sun & Alliance was up 2.8 percent to 126½p on the news that it will eliminate 1,550 jobs as a cost-cutting measure. Prudential added 3.2 percent to 566p. In addition, Friends Provident was up to 174¾p, while Legal & General climbed to 125¾p.





    March 21, 2006

    London bids news continues

    Filed under: Companies, Prudential, BG Group, Aviva, MFI Furniture, Friends Provident, Legal & General, Royal & Sun Alliance, Crest Nicholson

    The London equities markets were down on Monday as the FTSE 100 dropped 0.1 percent to 5,991.7 and the FTSE 250 declined by 0.3 percent to 9,815.0.

    Once again, bids and rumours of bids drove trade on the day. In the insurance sector, Prudential was up 10.6 percent to 743½p after it rejected a bid from Aviva, hoping to start a bidding war. Aviva lost 0.2 percent to 848½p after the rebuff. Elsewhere in the sector, Friends Provident gained 2.2 percent to 218¼p, Legal & General gained 0.9 percent to 144¾p, and Royal & Sun Alliance closed 0.4 higher to 140p after losing earlier gains.

    BG Group was up 1.2 percent to reach a record share price of 709p on rumors that a major company, perhaps ExxonMobil, would bid on the gas utility.

    Homebuilder Crest Nicholson added 4.6 percent to 570½p, for a total gain of 18 percent in a week, after it was said that it could be the target of a bid, perhaps from Bovis Homes. Bovis discounted the rumors.

    MFI Furniture was up 0.2 percent to 102¾p despite broker surprise that it has put on 56 percent since last month due to rumors that it might sell its Howden joinery division. Despite the gains, broker Seymour Pierce confirmed its “sell” recommendation and left its target sha





    December 31, 1969

    London bids news continues

    Filed under: Companies, Prudential, Aviva, MFI Furniture, Friends Provident, Legal & General, Royal & Sun Alliance, Crest Nicholson

    The London equities markets were down on Monday as the FTSE 100 dropped 0.1 percent to 5,991.7 and the FTSE 250 declined by 0.3 percent to 9,815.0.

    Once again, bids and rumours of bids drove trade on the day. In the insurance sector, Prudential was up 10.6 percent to 743½p after it rejected a bid from Aviva, hoping to start a bidding war. Aviva lost 0.2 percent to 848½p after the rebuff. Elsewhere in the sector, Friends Provident gained 2.2 percent to 218¼p, Legal & General gained 0.9 percent to 144¾p, and Royal & Sun Alliance closed 0.4 higher to 140p after losing earlier gains.

    BG Group was up 1.2 percent to reach a record share price of 709p on rumors that a major company, perhaps ExxonMobil, would bid on the gas utility.

    Homebuilder Crest Nicholson added 4.6 percent to 570½p, for a total gain of 18 percent in a week, after it was said that it could be the target of a bid, perhaps from Bovis Homes. Bovis discounted the rumors.

    MFI Furniture was up 0.2 percent to 102¾p despite broker surprise that it has put on 56 percent since last month due to rumors that it might sell its Howden joinery division. Despite the gains, broker Seymour Pierce confirmed its “sell” recommendation and left its target share price at 70p.





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