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    August 16, 2007

    FTSE 100 closes below 6,000 level

    Filed under: Companies, Northern Rock, Royal Dutch Shell, BP, Standard Chartered, Anglo American, Kazakhmys, Antofagasta, Lonmin, International Power, British Energy, Vedanta Resources, Man Group, Drax Group, Premier Oil, Daejan Holdings, Greggs, Invesco

    London’s equities markets saw significant losses on Thursday.

    The FTSE 100 fell 4.1 percent to 5,858.9, the first time it had closed below the 6,000 level since March, while the FTSE 250 closed at 10,462.6 for a drop of 3.92 percent.

    There were no winners on the 100 on the session, and miners were the five worst performers there after metals prices declined.

    Kazakhmys (LSE: KAZ) dropped 8.38 percent to £10.71, while Vedanta Resources (LSE: VED) fell 8.44 percent to £14.98.

    Anglo American (LSE: AAL) was 9.36 percent lower to £24.70, Lonmin (LSE: LMI) was down 9.41 percent to £27.92 and Antofagasta fell 10.98 percent to 608p for the worst performance of the day on the 100.

    The oil sector declined as well, as the price of crude oil dropped.

    BP (LSE: BP; NYSE: BP; TYO: 5051) was down 4.06 percent to 520p, while Royal Dutch Shell’s (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) A shares dropped 4.43 percent to £17.69.

    On the 250, Premier Oil (LSE: PMO) was down 9.19 percent to 914.5p for the worst performance of the day on that index. The financial services sector was much lower.

    Northern Rock (LSE: NRK) was 4.2 percent lower to 659p after Merrill Lynch (NYSE: MER; TYO: 8675) dropped its target share price from £11.30 to 913p and JP Morgan (NYSE: JPM; TYO: 8634) reduced it from 830p to 690p.

    Standard Chartered (LSE: STAN; SEHK: 2888), with substantial exposure in Asia, fell 7.55 percent to £14.44.

    Investment manager Invesco (LSE: AVZ; NYSE: IVZ) was 6.53 percent lower to 551.5p, while hedge fund Man Group (LSE: EMG) dropped 8.31 percent to 446.75p.

    Electricity generators also had substantial losses.

    Drax Group (LSE: DRX) fell 4.04 percent to 605p, while International Power was 6.23 percent lower to 383p and British Energy dropped 7.98 percent to 417.75p after it said that core profit was down 12 percent in its fiscal first quarter after trouble shut down two facilities.

    There were some gainers on the 250, where property group Daejan Holdings (LSE: DJAN) gained 6.57 percent to £35.22.

    Publisher Euromoney Institutional Investor (LSE: ERM), which is 70 percent owned by Daily Mail and General Trust (LSE: DMGT), added 1.93 percent to 580p, while retail baker Greggs (LSE: GRG) gained 0.41 percent to €48.50.





    August 14, 2007

    Wm Morrison lower after e. coli outbreak

    Filed under: Companies, BA, Rio Tinto, BHP Billiton, Lonmin, BT Group, Wm Morrison, Scottish and Newcastle, Johnson Matthey, Rexam, Yell, Daejan Holdings, Capita Group, Kier Group

    Markets in London were lower as well, with the FTSE 100 down 1.21 percent to 6,143.5 and the FTSE 250 at 10,998.6, a decline of 1.52 percent.

    Food retailer Wm Morrison (LSE: MRW) was 2.8 percent lower to 258.5p after it removed sliced cold meats from two stores in Scotland after an outbreak of E. coli that resulted in one death.

    Miners were mixed on the day.

    Lonmin (LSE: LMI) led gainers on the 100 as it added 1.7 percent to £31.14, but Rio Tinto (LSE: RIO) fell 1.4 percent to £31.75 and BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was 3.71 percent lower to £12.98.

    The worst performance on the 100 came from publisher Yell Group (LSE: YELL), which was down 3.81 percent to 454.4p.

    Beverage can maker Rexam (LSE: REX) dropped 3.54 percent to 504.5p, while chemicals group Johnson Matthey fell 3.73 percent to £16.27.

    Two other individuals were reported to be in hospital.

    Decliners on the 250 included property developer Daejan Holdings (LSE: DJAN), which was down 5.56 percent to £34.00.

    Construction firm Kier Group (LSE: KIE) had the worst day on the 250, with a decline of 6.15 percent to £18.76.

    British Airways was 0.5 percent higher on the 100 to 403p.

    Human resources specialist Capita Group (LSE: CPI) added 0.75 percent to 739p, while in the telecommunications sector BT Group (LSE: BT.A; NYSE: BT) gained 0.81 percent to 310.5p.

    Brewer Scottish & Newcastle (LSE: SCTN) was 1.31 percent higher to 580p on the possibility that it could be acquired by Danish brewer Carlsberg (OMX: CARL A, CARL B), which has been reported to have said it is in the market to purchase another beer maker.

    Neither Carlsberg nor Scottish & Newcastle would comment on the reports.





    August 6, 2007

    House builders see gains

    Filed under: Companies, BAT, Anglo American, Kazakhmys, Rio Tinto, BHP Billiton, Lonmin, Aquarius Platinum, HMV Group, Wm Morrison, Persimmon, Standard Life, Punch Taverns, Ashmore, Taylor Wimpey, Alfred McAlpine, Invesco

    In London on Monday, the FTSE 100 was 0.57 percent lower to 6,189.1 and the FTSE 250 fell 1.67 percent to 10,998.8.

    Standard Life (LSE: SLET) was the biggest gainer on the 100, adding 3.03 percent to 315p on consolidation hopes within the sector.

    Builder Alfred McAlpine (LSE: MCA) did the best on the 250 with a gain of 4.7 percent to 484.5p.

    Other gainers on the session included the house building sector, where Persimmon (LSE: PSN) was up 1.93 percent to £11.64 and Taylor Wimpey (LSE: TW) added 2.18 percent to 339.75p.

    British American Tobacco (LSE: BATS; AMEX: BTI; KLSE: BAT) was 2.4 percent higher to £16.12, while music retailer HMV Group (LSE: HMV) gained 4.7 percent to 118.25p.

    The biggest loser on the day on the 100 was platinum miner Lonmin (LSE: LMI), which fell 4.81 percent to £30.85.

    Aquarius Platinum (LSE: LSE: AQP; ASX:AQP; JSE:AQP) did even worse on the 250, dropping 5.56 percent to £12.90.

    Elsewhere in the mining sector BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) dropped 2.98 percent to £13.33, while Kazakhmys (LSE: KAZ) fell 2.93 percent to £11.94, Anglo American (LSE: AAL) was 2.68 percent lower to £26.85 and Rio Tinto (LSE: RIO) was down 1.33 percent to £32.19.

    Investment trust Ashmore (LSE: ASHM) did the worst on the 250, falling 8 percent to 204p.

    Other decliners on the session included supermarket chain Wm Morrison (LSE: MRW), which dropped 3.6 percent to 274.25p.

    Pubs operator Punch Taverns (LSE: PUB) fell 3.36 percent to £10.36 and investment management group INVESCO (LSE: AVZ; NYSE: IVZ) was 3.15 percent lower to 585p on its exposure to the US housing sector.





    August 2, 2007

    British Airways gains on broker upgrade

    Filed under: Companies, BA, Rio Tinto, Lonmin, Marks & Spencer, Vedanta Resources, Mitchells & Butlers, Whitbread, Unilever, Invensys, Alfred McAlpine

    In London on Thursday, the FTSE 100 added 0.8 percent to 6,300.3 and the FTSE 250 was 0.39 percent higher to 11,233.

    British Airways (LSE: BAY; NYSE: BAB) led the 100, adding 4.53 percent to 403.75p after ABN Amro (Eurnoext: AAB; NYSE: ABN) raised its recommendation on the airline from “sell” to “hold”.

    Consumer goods maker Unilever (LSE: ULVR; Euronext: ENA; NYSE: UN) was 4.26 percent higher to £15.68 on strong second quarter results and an improved sales forecast for the full year.

    In the retail sector, Marks & Spencer (LSE: MKS) gained 3.42 percent to 635.5p.

    The worst performer on the 100 was pubs operator Mitchells & Butlers (LSE: MAB), which fell 4.68 percent to 713p after it delayed a property deal due to problems in the debt market.

    The decline took rival pubs company Whitbread (LSE: WTB) down 3.93 percent to £15.88.

    Miners also declined on the day.

    Rio Tinto was 3.19 percent lower to £33.35, while Vedanta Resources (LSE: VED) fell 2.56 percent to £16.73 and Lonmin (LSE: LMI) dropped 1.84 percent to £33.14.

    On the 250, construction group Alfred McAlpine (LSE: MCA) was the best performer as it gained 5.91 percent to 475p after it announced that the company will be split into two separately listed companies, one dedicated to business services and the other offering infrastructures services and project services.

    Electronics group Invensys (LSE: ISYS; OTC: IVNY) was 10.07 percent lower to 341.75p, for the worst performance of the session on the 250.





    August 1, 2007

    Miners see more declines in London

    Filed under: Companies, BA, Xstrata, Rio Tinto, BHP Billiton, Cadbury Schweppes, Lonmin, Shire, ICI, John Wood Group, Jardine Lloyd Thompson Group

    London’s equities markets were lower Wednesday.

    The FTSE 100 dropped 1.72 percent to 6,250.6, while the FTSE 250 fell 1.26 percent to 11,194.9.

    Cadbury Schweppes (LSE: CBRY; NYSE: CSG), with a decline of 8.23 percent to 569p, was the worst performer on the 100 after it
    said that profitability was down in the first half due to higher dairy prices.

    British Airways (LSE: BAY; NYSE: BAB) was down 2.89 percent to 386.25p after it was fined nearly £270 million for price fixing activities in relation to fuel surcharges.

    Miners were substantially lower. Lonmin (LSE: LMI) fell 3.65 percent to £33.76, while Xstrata (LSE: XTA) was 3.88 percent lower to £30.74, BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) dropped 4.41 percent to £14.08 and Rio Tinto (LSE: RIO) was down 4.46 percent to £34.45.

    There were gains on the day.

    In the pharmaceuticals sector, Shire (LSE: SHP; NAS: SHPGY) added 1.56 percent to £12.37, while chemicals group Imperial Chemical Industries (LSE: ICI) gained 0.56 percent to 627.5p on reports that Dow Chemical (NYSE: DOW; TYO: 4850) is interested in making a bid to rival that of Akzo Nobel (Euronext: AKZ; NAS: AKZOY).

    Over on the 250, construction group John Wood Group (LSE: WG.) was the best performer, adding 4.61 percent to 340.5p.

    Meanwhile, business services provider Jardine Lloyd Thompson Group (LSE: JLT) was the biggest loser of the session as it dropped 11.48 percent to 374p.





    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.





    July 20, 2007

    Cable & Wireless drops 3.6 percent

    Filed under: Companies, BA, PartyGaming, Antofagasta, Lonmin, British Energy, BAE Systems, Cable and Wireless, Friends Provident, Imperial Tobacco, Bluebay, SSL International, iSoft, Admiral Group

    The London markets did not decline as much as the continental European markets did on Friday, but they were down as well.

    The FTSE 100 fell 0.83 percent to 6,585.2, while the FTSE 250 dropped 0.51 percent to 11,819.4.

    Gainers on the day included insurer Friends Provident, which had the best day on the 100 as it added 4.25 percent to 186.4p.

    On the 250, consumer goods group SSL International (LSE: SSL) did the best, gaining 3.99 percent to 469.25p.

    Other advances on the day included aerospace and defense group BAE Systems (LSE: BA; OTCBB: BAESY), which was up 1.6 percent to 428p.

    Imperial Tobacco (LSE: IMT) was 1.11 percent higher to £22.78, while British Energy (LSE: BGY) gained 0.86 percent to 527.5p.

    Off of the major indices, software company iSoft (LSE: IOT) added 19 percent to 65.5p after it received a bid from German computer information systems group CompuGroup (FWB: COP).

    Miners were mixed on the session, with Antofagasta (LSE: ANTO) up 1.45 percent to 736p but Lonmin (LSE: LMI) was 2.72 percent lower to £36.85.

    The biggest loser on the day on the 100 was Cable and Wireless (LSE: CW), which fell 3.6 percent to 182p on shareholder protests over executive pay.

    British Airways (LSE: BAY; NYSE: BAB), meanwhile, dropped 2.83 percent to 420p on reports that the current stringent airport security measures could remain in place for the foreseeable future.

    Asset management group Bluebay (LSE: BBAY) was the worst performer on the 250 as it dropped 4.91 percent to 430.75p.

    Auto insurer Admiral Group (LSE: ADM) was 4.85 percent lower to 819p, while internet gamer PartyGaming (LSE: PRTY) fell 4.58 percent to 31.25p.





    July 18, 2007

    Commodities-related stocks decline

    Filed under: Companies, Anglo American, Lonmin, Next, Dana Petroleum, Kelda, SAB Miller, Mitchells & Butlers, JJB Sports, Wetherspoon, UK Coal

    In London on Wednesday the FTSE 100 dropped 1.38 percent to 6,567.1, while the FTSE 250 was 0.64 percent lower to 11,726.

    The best performance on the day on the 100 came from water utility Kelda Group (LSE: KEL), which gained 2.13 percent to 889p after broker upgrades.

    Merrill Lynch (NYSE: MER; TYO: 8675) and Citigroup (NYSE: C) both upped their recommendations on the utility, with Citigroup raising its rating from “sell” to “hold”, while JP Morgan (NYSE: JPM; TYO: 8634) raised its target share price.

    Pubs operator Wetherspoon (LSE: JDW) had the best day on the 250, gaining 10.99 percent to 616p after it reported higher sales and said that it is on target to meet its forecasts.

    Still in the same sector, pubs operator Mitchells & Butlers (LSE: MAB) added 1.83 percent to 892p.

    In a related sector, brewer SABMiller (LSE: SAB) was 1.63 percent higher to £13.10.

    The worst performance on the 250 came from sports retailer JJB Sports (LSE: JJB), which dropped 7.52 percent to 233.75p.

    In the same sector, clothing retailer Next (LSE: NXT) fell 3.23 percent to £18.88 on the 100.

    The biggest loser on the 100 was miner Anglo American (LSE: AAL), down 3.85 percent to £31.

    Fellow miner Lonmin (LSE: LMI) was also lower as it fell 3.6 percent to £36.95.

    Other commodities-related groups also saw declines on the session.

    UK Coal (LSE: UKC) dropped 4.21 percent to 534.5p, while in the oil sector Dana Petroleum (LSE: DNX) fell 5 percent to £11.02.





    July 17, 2007

    Lonmin drops on reduced target share price

    Filed under: Companies, Lloyds TSB, Schroders, Rolls Royce, Lonmin, Barclay's, Tate & Lyle, Reed Elsevier, Gyrus, Inmarsat, Ashmore

    In London on Tuesday the FTSE 100 fell 0.58 percent to 6,659.1, while the FTSE 250 was 0.98 percent lower to 11,801.

    Food processor Tate & Lyle (LSE: TATE) had the best day on the FTSE 100, adding 4.81 percent to 599.5p on an upgrade from “neutral” to “buy” from Goldman Sachs (NYSE: GS).

    Meanwhile Inmarsat, the telecommunications satellite operator, gained 5.08 percent to 434p on the FTSE 250 for the best performance there.

    The biggest loser on the day on the 100 was Lonmin (LSE: LMI), which dropped 3.89 percent to £38.30 on the 100 after both Goldman Sachs (NYSE: GS) and Deutsche Bank (FWB: DBK; NYSE: DB) lowered the miner‘s target share price.

    On the 250, investment trust Ashmore dropped 3.51 percent to 268.25p for the worst day on the 250.

    Banks saw gains.

    Barclays Bank (LSE: BARC; NYSE: BCS; :TYO: 8642) was 0.48 percent higher to 732p, while Lloyds TSB (LSE: LLOY) gained 0.53 percent to 572p.

    Gyrus Group (LSE: GYG), which makes and sells surgical supplies, added 2.73 percent to 469.75p.

    Investment managers Schroders (LSE: SDR) fell 3.61 percent to £12.80, while its non-voting shares dropped 3.22 percent to £11.41.

    Rolls-Royce (LSE: RR) was 2.83 percent lower to 548.5p after Credit Suisse (NYSE: CS; SWX: CSGN) dropped its recommendation on the airplane engine maker from “outperform” to “neutral”.

    Meanwhile, Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) fell 2.81 percent to 656p on the news that it is selling its Harcourt educational division to Houghton Mifflin.





    July 16, 2007

    Oil sector falls in London

    Filed under: Companies, BG Group, Royal Dutch Shell, GlaxoSmithKline, Burren Energy, Xstrata, Lonmin, Alliance & Leicester, Premier Oil, Reed Elsevier, SEGRO

    The FTSE 100 dropped 0.28 percent to 6,697.7 in London on Monday, while the FTSE 250 was 0.05 percent lower to 11,917.3.

    The mining and oil sectors were lower in London.

    Platinum miner Lonmin (LSE: LMI) dropped 6.85 percent to £39.85 for the worst performance of the session on the FTSE 100 after it issued a disappointing trading statement, saying that sales will be lower for the next year.

    The announcement prompted a downgrade from Citigroup (NYSE: C).

    Xstrata (LSE: XTA) was also lower, falling 1.78 percent to £33.61.

    In the oil sector, Royal Dutch Shell’s (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) A shares were 1.59 percent lower to £20.40.

    BG Group (LSE: BG; NSYE: BG) was also lower, dropping 2.34 percent to 857p.

    On the FTSE 250, Premier Oil (LSE: PMO) fell 2.57 percent to £11.75, while Burren Energy (LSE: BUR) was down 2.79 percent to 853.5p.

    Back on the 100, SEGRO (LSE: SLOU), the rebrand of property development group Slough Estates, fell 2.04 percent to 599p.

    Top gainers on the 100 covered several sectors, with bank Alliance & Leicester (LSE: AL) doing the best as it added 2.49 percent to £11.52.

    Publisher Reed Elsevier (LSE: REL; Euronext: REN; NSYE: ENL; NYSE: RUK) was 1.66 percent higher to 675p, while in the pharmaceuticals sector, GlaxoSmithKline gained 1.63 percent to £13.10 on an upgrade from “underweight” to “neutral” from JP Morgan (NYSE: JPM; TYO: 8634).





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