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    October 24, 2007

    Pharma lower in London

    Filed under: Companies, Cairn Energy, GlaxoSmithKline, Tullow Oil, Kazakhmys, Lonmin, BAE Systems, AstraZeneca, Vedanta Resources, Carphone Warehouse

    Equities were down in London Wednesday, with the FTSE 100 down 0.49 percent to 6,482 and the FTSE 250 falling 0.71 percent to 11,278.5.

    The pharmaceuticals sector saw losses.

    GlaxoSmithKline (LSE: GSK; NYSE: GSK) dropped 0.9 percent to £12.49 after it reported that profits were down 5.8 percent in the third quarter on poor sales of Advair and Avandia.

    Meanwhile, AstraZeneca (LSE: AZN; NYSE: AZN) fell 2 percent to £24.09 after a lowered recommendation from Merrill Lynch, which cited increased competition from generics in reducing the drug maker from “neutral” to “sell”.

    Miners were also lower on declines in base metals prices.

    Vedanta Resources (LSE: VED) dropped 4.05 percent to £20.63, while Lonmin (LSE: LMI) was down 4.66 percent to £32.50 and Kazakhmys (LSE: KAZ) fell 7.21 percent to £13.78 after it said output was cut by 19 percent in one of its mines after a flood.

    Oil explorer and producer Cairn Energy (LSE: CNE) had the best day on the 250 with a gain of 6.35 percent to £24.13 on rumors that BP (LSE: BP; NYSE: BP; TYO: 5051) might make an offer.

    Elsewhere in the oil sector, Tullow Oil (LSE: TLW; OTC: TUWLY) was up 2.09 percent to 610p.

    Carphone Warehouse (LSE: CPW) gained 1.82 percent to 336.25p on news of an unexpected deal with Vodafone (LSE: VOD; NYSE: VOD; FWB: VOD) in which Vodafone will host Carphone Warehouse’s new mobile phone service.

    The best performance on the 100 came from BAE Systems (LSE: BA). The aerospace and defense group added 3.36 percent to 507p.





    September 28, 2007

    Lonmin up 7.39 percent on platinum prices

    Filed under: Companies, PartyGaming, Kazakhmys, Antofagasta, Lonmin, London Stock Exchange, New Star Asset Management, Dana Petroleum, Tate & Lyle, Benfield Group, Collins Stewart

    Equities markets in London were lower in Friday trade.

    The FTSE 100 fell 0.3 percent to 6,466.8 while the FTSE 250 was 0.02 percent lower to 11,037.4.

    Miners were mixed.

    Lonmin (LSE: LMI) added 7.39 percent to £36.49 on a rise in platinum prices and on the possibility that Xstrata (LSE: XTA) might be interested in bidding.

    Gold miner Randgold (LSE: RRS; NAS: GOLD), meanwhile, was up 6.96 percent to £16.60.

    On the other hand Antofagasta (LSE: ANTO) was 3.54 percent lower to 762.5p, while Kazakhmys (LSE: KAZ) fell 3.44 percent to £14.05 after a downgrade from “buy” to “neutral” from UBS (NYSE: UBS; SWX: USBN; TYO: 8657).

    Food processor Tate & Lyle (LSE: TATE) was the biggest loser by far on the 100, plummeting 27.8 percent to 402.5p after it announced a “small” loss in the first half.

    Over on the 250, broker Collins Stewart (LSE: CLST) was the best performer, adding 7.59 percent to 205.5p.

    Other gainers on the 250 included reinsurer Benfield Group (LSE: BFD), which was up 7.41 percent to 290p.

    Dana Petroleum (LSE: DNX) gained 6.31 percent to £11.62.

    Asset managers New Star (LSE: NSAM) had the worst day on the 250 as it dropped 13.33 percent to 354p on statements from its chairman that it now faces a “challenging environment” after first half profits were up by 57 percent.

    Also lower were PartyGaming (LSE: PRTY) with a decline of 5.17 percent to 27.50p and the London Stock Exchange (LSE: LSE), which dropped 4.75 percent to £16.43.





    September 25, 2007

    Miners lead FTSE 100 lower

    Filed under: Companies, Northern Rock, Antofagasta, Lonmin, Scottish & Southern Energy, National Grid, Hammerson, Vedanta Resources, Drax Group, Severfield-Rowen, Taylor Wimpey, Alfred McAlpine, Wellstream

    London’s markets also declined, with the FTSE 100 down 1.07 percent to 6,396.9 and the FTSE 250 closing at 10,853.2, a drop of 1.7 percent.

    Miners dropped as metals prices declined.

    Vedanta Resources (LSE: VED) had the worst day on the 100 as it fell 6.49 percent to £20.90, while Antofagasta (LSE: ANTO) dropped 6.35 percent to 789.5p and Lonmin (LSE: LMI) was 5.35 percent lower to £32.02.

    Northern Rock (LSE: NRK) had another down day, falling 5.17 percent to 163.10 as it said it won’t pay a dividend it had promised to investors.

    House builder Taylor Wimpey (LSE: TW) was down 5.72 percent to 255.5p.

    Property developer Hammerson (LSE: HMSO), on the other hand, added 1.06 percent to £11.40.

    Electric power transmitter National Grid (LSE: NG) had the best day on the 100 with a gain of 2.5 percent to 780p, while Scottish & Southern Energy (LSE: SSE; OTC: SSEZY) added 1.38 percent to £14.73.

    Over on the 250, electricity generator Drax Group (LSE: DRX) was 2.38 percent higher to 602p.

    Natural gas utility Wellstream (LSE:WSM) gained 10.79 percent to 770p for the best day on the 250.

    Construction groups were mixed.

    Alfred McAlpine (LSE: MCA) was up 2.83 percent to 449.5p but Severfield-Rowen (LSE: SFR) was 6.65 percent lower to £21.05.





    September 18, 2007

    Alliance & Leicester adds over 32 percent

    Filed under: Companies, Lloyds TSB, Paragon, Northern Rock, Tullow Oil, Lonmin, Bradford & Bingley, Alliance & Leicester, Barclay's, Persimmon, Liberty International, Avis Europe, Venture Production

    There were gains in London’s equities markets on Tuesday.

    The FTSE 100 added 1.63 to 6,283.3 and the FTSE 250 gained 0.54 percent to 10,802.8.

    The 100 was helped out by Alliance & Leicester (LSE: AL) when the bank gained even more on the session than it lost Monday.

    A&L was up 32.17 percent to 793p, by far the best performance on the blue chip index.

    Other banks also gained although the sector was mixed.

    Northern Rock (LSE: NRK) was up 8.22 percent to 306p after two consecutive sessions of over 30 percent declines each day.

    Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) was 4.48 percent higher to 607p.

    On the other hand, Lloyds TSB (LSE: LLOY) dropped 1.75 percent to 504p.

    Also seeing a gain on the 100 was property investment group Liberty International (LSE: LII), which was up 5.06 percent to £11.

    House builder Persimmon (LSE: PSN), however, dropped 0.53 percent to 941p, while miner Lonmin led the losers on the 100 as it fell 4.35 percent to €31.46.

    Mortgage lenders did well on the 250.

    Paragon (LSE: PAG) was 5.86 percent higher to 302.5p, while Bradford & Bingley (LSE: BB) jumped 12.28 percent to 313.25p for the best performance of the day on the 250.

    Auto rental group Avis Europe (LSE: AVE) was 2.55 percent higher to 40.25p.

    The oil sector didn’t do as well.

    Venture Production (LSE: VPC) dropped 1.75 percent to 731.5p, while Tullow Oil (LSE: TLW; OTC: TUWLY) led the losers on the 250 with a decline of 3.95 percent to 511p.





    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 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.





    September 5, 2007

    Miners higher on losing day

    Filed under: Companies, Northern Rock, PartyGaming, Lonmin, Alliance & Leicester, Shire, Royal & Sun Alliance, Vedanta Resources, Tate & Lyle, Punch Taverns, Avis Europe, International Personal Finance, Interserve

    London’s markets saw declines Wednesday.

    The FTSE 100 dropped 1.66 percent to 6,270.7 and the FTSE 250 was down 1.83 percent to 11,300.7.

    The mining sector provided the best performer on the 100 as Vedanta Resources (LSE: VED) added 3.07 percent to £18.47.

    Of the two other gainers on the 100 during the day another miner, Lonmin (LSE: LMI) was up 0.37 percent to £32.27.

    The only other winner on the 100 was in the pharmaceuticals sector, with Shire (LSE: SHP; NAS: SHPGY) up 0.62 percent to £13.03.

    The best performance on 250 came from personal loan provider International Personal Finance (LSE: IPF), which added 5.66 percent to 224p.

    Construction and civil engineering group Interserve (LSE: IRV) was up 3.8 percent to 492p, while internet gambler PartyGaming (LSE: PRTY) was 2.73 percent higher to 28.25p.

    Banks were lower after Lehman Brothers (NYSE: LEH) made negative comments about the mortgage sector.

    Northern Rock (LSE: NRK) had the worst day on the 100 as it dropped 5.33 percent to 693p, while Alliance & Leicester (LSE: AL) fell 4.44 percent to £10.11.

    Among insurers, Royal Sun & Alliance (LSE: RSA) was down 3.85 percent to 139.9p.

    Food processor Tate & Lyle (LSE: TATE) was down 4.54 percent to 536.5p, and pubs operator Punch Taverns (LSE: PUB) was down 3.79 percent to £10.66.

    Avis Europe (LSE: AVE) was 7 percent lower on the 250 to 46.5p, while waste management firm Shanks Group (LSE: SKS) fell 6.06 percent to 232.5p.





    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.





    August 17, 2007

    Standard Chartered gains 8 percent

    Filed under: Companies, Northern Rock, GlaxoSmithKline, Standard Chartered, Rio Tinto, BHP Billiton, Lonmin, AstraZeneca, Tesco, ICI, Standard Life, Petrofac, Henderson Group, ICAP

    London’s markets were also higher on the session.

    The FTSE 100 added 3.5 percent to 6,064.2, while the FTSE 250 was 2.14 percent higher to 10,686.2.

    As on the continent, banks saw gains.

    Standard Chartered (LSE: STAN; SEHK: 2888) was the best performer on the 100 as it added 8.03 percent to £15.60, while Northern Rock (LSE: NRK) was right behind with a gain of 7.66 percent to 709.5p.

    Insurers were also higher, with Standard Life (LSE: SLET) up 7.01 percent to 305.5p.

    Broker ICAP (LSE: IAP) was 6.48 percent higher to 484.5p.

    Miners also saw gains.

    Rio Tinto (LSE: RIO) gained 1.8 percent to £29.82, while BHP Billiton (LSE: BLT; NSYE; BHP; ASX: BHP) added 3.5 percent to £12.24 and Lonmin (LSE: LMI) was 6.52 percent higher to £29.74.

    In the pharmaceuticals sector, AstraZeneca (LSE: AZN; NYSE: AZN) was up 2.55 percent to £23.36 while GlaxoSmithKline (LSE: GSK; NYSE: GSK) gained 3.33 percent to £12.71.

    Oil and gas services group Petrofac (LSE: PFC) had the best day on the 250, where it added 7.72 percent to 418.5p, while the biggest loser there was asset manager Henderson Group (LSE: HGI; ASX: HGI) at a drop of 2.9 percent to 125.5p.

    There were only two losers on the 100 on the session. Imperial Chemical Industries (LSE: ICI) dropped 0.16 percent to 616p, while retailer Tesco (LSE: TSCO) was down 0.12 percent to 403.5p.





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