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    August 24, 2007

    Sage Group tops FTSE 100

    Filed under: Companies, BG Group, Standard Chartered, Rio Tinto, British Energy, J Sainsbury, Barclay's, Northern Foods, Man Group, Sage, Henderson Group, Daejan Holdings, 3i, Rathbone Brothers, Assura Group

    London’s markets were higher Friday.

    The FTSE 100 added 0.37 percent to 6,220.1, while the FTSE 250 gained 0.22 percent to 10,969.5.

    Software maker Sage Group (LSE: SGE) was the best performer on the 100 with a gain of 3.21 percent to 233.25p.

    But financial services groups crowded the top of the loser board on the 100.

    Man Group (LSE: EMG) was 2.55 percent lower to 477.5p. Barclay’s Bank (LSE: BARC; NYSE: BCS; TYO: 8642) dropped 2.63 percent to 611p, while Standard Chartered (LSE: STAN; SEHK: 2888) was the worst performer on the 100 as it fell 4.9 percent to £14.94.

    3i Group (LSE: III) was 4.26 percent lower to £10.34. Rounding out the top five decliners on the 100 was British Energy Group (LSE: BGY) with a decline of 2.67 percent to 446.75p.

    Miners and the oil sector saw gains.

    Rio Tinto (LSE: RIO) was up 2.36 percent to £33.39, while BG Group (LSE: BG; NYSE: BG) added 2.74 percent to 769.5p.

    Retailer Sainsbury gained 2.16 percent to 544.5p.

    The best performer on the 250 was Assura Group (LSE: AGR), with a gain of 13.85 percent to 160.25p.

    Property developer Daejan Holdings (LSE: DJAN) was 5.08 percent higher to £36.00.

    Financial services groups didn’t fare much better on the 250 than they did on the 100.

    Asset manager Henderson Group (LSE: HGI; ASX: HGI) was 2.52 percent lower to 135.25p, while investment managers Rathbone Brothers (LSE: RAT) dropped 2.55 percent to £12.23.

    But the worst performer on the 250 was food processor Northern Foods (LSE: NFDS) with a drop of 2.86 percent to 102p.





    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 10, 2007

    Northern Rock drops over 9.5 percent

    Filed under: Companies, Northern Rock, Carnival, Tate & Lyle, JKX Oil & Gas, Man Group, Hunting, Resolution, Henderson Group, Beazley Group, Rathbone Brothers, Avis Europe, Associated British Foods

    London’s markets joined the global market slide on Friday as the FTSE 100 fell 3.71 percent to 6,038.3 and the FTSE 250 was down 2.88 percent to 10,889.5.

    Again, financial services groups ended up lower on the day. Northern Rock (LSE: NRK) led the decliners on the 100 as it dropped 9.57 percent to 713.5p, while investment managers Rathbone Brothers (LSE: RAT) was the worst performer on the 250 with a decline of 12.02 percent to £11.57.

    Insurer Resolution (LSE: RSL) fell 6.71 percent to 626p, while special risks insurer Beazley Group (LSE: BEZ) was 7.98 percent lower to 150p.

    Hedge fund Man Group (LSE: EMG) was down 0.06 percent to 479.25p, while asset managers Henderson Group (LSE: HGI; ASX: HGI) dropped 9.43 percent to 139.25p.

    Among gainers, Avis Europe (LSE: AVE) led the 250 with a gain of 15.91 percent to 51p, while cruise operator Carnival (LSE: CCL; NYSE: CCL; NYSEL CUK) was the best performer on the 100 as it added 0.54 percent to £22.44.

    Food processors did well on the 100.

    Tate & Lyle was up 0.18 percent to 549p, while Associated British Foods (LSE: ABF) gained 0.3 percent to 844p.

    The oil sector did well on the 250.

    Oil refiner and distributor Hunting (LSE: HTG) was 3.36 percent higher to 707.5p, while JKX Oil & Gas (LSE: JKX) was up 13.48 percent to 360p.





    August 9, 2007

    Financial services mixed on session

    Filed under: Companies, Kazakhmys, BAE Systems, Alliance & Leicester, AstraZeneca, National Grid, BSkyB, Man Group, Standard Life, Jardine Lloyd Thompson Group, 3i, Benfield Group

    The markets in London also saw declines as the FTSE 100 fell 1.92 percent to 6,271.2 and the FTSE 250 was 2 percent lower to 11,225.5.

    Shares in the financial services sector did not do very well for the most part on the 100.

    Venture capital and private equity group 3i Group (LSE: III) was 5.8 percent lower to £10.56, while insurer Standard Life (LSE: SLET) fell 6.52 percent to 318.75p and hedge fund Man Group (LSE: EMG) was down 6.73 percent to 527p.

    Not all in the financial services sector saw declines however.

    Alliance & Leicester (LSE: AL) added 1.17 percent to £11.20 and insurer Benfield Group (LSE: BFD) gained 4.95 percent to 339p.

    Insurance broker and risk management advisor Jardine Lloyd Thompson Group (LSE: JLT) had the best day on the 100 as it added 4.95 percent to 425p.

    The best performer on the 250 was BSkyB (LSE: BSY), which gained 2.58 percent to 694.4p.

    Other gainers included power transmitter National Grid (LSE: NG), which was 2.09 percent higher to 731.5p.

    Chemicals group Reckitt Benckiser (LSE: RB) was up 1.5 percent to £27.74.

    Defense contractor BAE Systems (LSE: BA; OTCBB: BAESY) added 0.9 percent to 440.25p after it said that first half profits were up a better-than-anticipated 27 percent on upgrades to its Bradley fighting vehicles for use by the US in Iraq and on the production of jet parts.

    The biggest loser on the day on the 100 was miner Kazakhmys (LSE: KAZ), which was down 6.79 percent to £11.25.

    In the pharmaceuticals sector, AstraZeneca (LSE: AZN; NYSE: AZN) dropped 3.5 percent to £24.30 on a safety review of its acid reflux drugs Nexium and Prilosec after two studies linked them to heart problems.

    However, the Food and Drug Administration said that it had concluded on a preliminary basis that there is no increased risk to patients taking the drugs.





    July 30, 2007

    ICI gains over 7 percent on session

    Filed under: Companies, Prudential, Rio Tinto, Antofagasta, BHP Billiton, National Grid, Vedanta Resources, JKX Oil & Gas, Imperial Tobacco, Man Group, ICI, FKI, Capital & Regional

    Equities markets in London were mixed on Monday.

    The FTSE 100 was 0.15 percent lower to 6,206.1, while the FTSE 250 gained 0.79 percent to 11,071.7.

    Miners saw significant gains on the day.

    BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) gained 3.09 percent to £14.03, while Rio Tinto (LSE: RIO) added 3.68 percent to £34.51, Antofagasta (LSE: ANTO) was 4.15 percent higher to 702p, and Vedanta Resources (LSE: VED) was up 5.5 percent to £17.07.

    The best performer on the 100 came in the chemicals sector, where Imperial Chemical Industries (LSE: ICI; NYSE: ICI) added 7.19 percent to 618.5p.

    The biggest loser on the 100 was in the financial services sector, where Man Group (LSE: EMG) fell 2.75 percent to 547.5p.

    Other decliners included Imperial Tobacco Group (LSE: IMT), which dropped 2.02 percent to £21.37.

    Prudential (LSE: PRU; NYSE: PUK) dropped 2.11 percent to 650p, while electric power transmitter National Grid (LSE: NG) was 2.14 percent lower to 686p.

    Manufacturer FKI (LSE: FKI) had the best day on the 250, adding 9.16 percent to 110.25p, while JKX Oil & Gas (LSE: JKX) gained 8.61 percent to 346p.

    The worst performer on the 250 was property investment group Capital & Regional (LSE: CPP), which fell 4.12 percent to 907p.





    July 13, 2007

    Miners down after gains

    Filed under: Companies, BG Group, Standard Chartered, Rio Tinto, BHP Billiton, Lonmin, Johnson Matthey, Man Group, Experian, Home Retail, Henderson Group, Bluebay, Smiths Group

    In London on Friday the FTSE 100 was 0.28 percent higher to 6,716.7 and the FTSE 250 gained 0.96 percent to 11,922.9.

    Miners declined after Thursday’s gains, with Rio Tinto (LSE: RIO) seeing the biggest loss of the day on the 100, dropping 2.1 percent to £37.30.

    Elsewhere in the sector, BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) was 1.74 percent lower to £15.27 and Lonmin (LSE: LMI) fell 0.66 percent to £42.78.

    Financial services-related shares did better.

    Standard Chartered (LSE: STAN; SEHK: 2888) had the best day on the 100 as it added 2.92 percent to £16.90, while asset manager Henderson Group (LSE: HGI; ASX: HGI) gained 7.95 percent to 176.5p on the 250 for the best performance of the day there.

    Hedge fund manager Man Group (LSE: EMG) was 2.76 percent higher to 633.5p.

    Another asset manager, Bluebay (LSE: BBAX), however, had the poorest performance of the day on the 250 as it dropped 3.35 percent to 455p.

    Other gainers on the day included business services group Experian (LSE: EXPN), which was 2.27 percent higher to 630p.

    Chemicals group Johnson Matthey (LSE: JMAT) added 2.7 percent to £18.28, while in the oil sector BG Group gained 2.2 percent to 877.5p.

    Decliners on the 100 included engineers Smiths Group (LSE: SMIN), which dropped 1.23 percent to £11.28 and Home Retail (LSE: HOME), down 1.37 percent to 450.25p.





    July 12, 2007

    FTSE 100 adds 1.25 percent

    Filed under: Companies, BA, Xstrata, Rio Tinto, Antofagasta, Hammerson, Vedanta Resources, Man Group, Whitbread, Hunting, Arriva

    London equities markets were up on Thursday, with the FTSE 100 added 1.25 percent to 6,697.7 and the FTSE 250 gained 1.22 percent to 11,809.

    Most miners were higher on the session, but the sector managed to provide both the biggest winner and the worst performer on the 100.

    Vedanta Resources (LSE: VED) added 6.45 percent to £18.00, while Rio Tinto (LSE: RIO) was 4.58 percent lower to £38.10.

    Rio Tinto’s decline came after it put in a bid for Canadian aluminium producer Alcan (TSX: AL; NYSE: AL) and after Standard & Poor‘s announced that it would take a look at Rio Tinto‘s credit rating if the deal was completed.

    Elsewhere in the sector, Xstrata (LSE: XTA) was 4.67 percent higher to £34.27 and Antofagasta (LSE: ANTO) added 6.39 percent to 715.5p.

    The best performance on the 250 came from oil refiner Hunting (LSE: HTG), which gained 8.01 percent to 842.5p.

    Other gainers on the 100 included British Airways (LSE: BAY; NYSE: BAB), which was 5.26 percent higher to 440.5p.

    Hedge fund Man Group (LSE: EMG) added 4.05 percent to 616.5. Public transport company Arriva (LSE: ARI) was the worst performer on the 250 as it dropped 4.09 percent to 751p.

    Other decliners on the 100 included Whitbread (LSE: WTB); the leisure services group fell 2.47 percent to £18.98.

    Property developer Hammerson (LSE: HMSO) was 0.88 percent lower to £13.55.





    October 10, 2006

    UK assets managers see new gains

    Filed under: Companies, Tullow Oil, Schroders, Vodafone, Shire, Amvescap, Dana Petroleum, JKX Oil & Gas, Wolseley, Man Group, Premier Oil

    London equities markets were higher on Tuesday due to advances in a wide variety of sectors. The FTSE 100 added 0.7 percent to 6,072.7, while the FTSE 250 gained 0.9 percent to a new high of 10,244.5.

    Asset managers had a good day as Schroders added 4.2 percent to £10.04, Amvescap gained 5.3 percent to 629p, and Man Group was 8.2 percent higher to 478p. Amvescap benefited from the news that the funds under its management have gone up from $428.9 billion in August to $440 billion in September. The September figure was a full $2 billion higher than some estimates.

    In the telecommunications sector, Vodafone added 2.6 percent to 120¼p on an upgrade to “outperform” by Bernstein Research, which also set a target share price of 155p for the telecom company.

    The oil sector was higher on gains in exploration companies despite another drop in crude oil prices. Premier Oil advanced by 4.5 percent to £11.70, a record high. Dana Petroleum, rumored to be interested in Premier, added 6.4 percent to £12.62. Tullow Oil and JKX Oil & Gas were both 6.1 percent higher, to 391p and 290p respectively.

    Plumber and building materials company Wolseley added 3.9 percent to £12.11 on positive comments from JP Morgan concerning US homebuilders. Wolseley gains around 60 percent of its revenues from the US market every year.

    Among losers on the session, Shire dropped 4.6 percent to 961p as investors decided that its 15 percent advance on Monday was out of proportion to the news that the drug maker had gained approval for its hyperactivity drug, NRP 104, for use in the United States.





    August 15, 2006

    Shire gains on lawsuit settlement

    Filed under: Companies, Shire, Amvescap, Carphone Warehouse, Bellway, Bovis Homes Group, Man Group, Barratt Developments

    The London equities markets had another slow day, with only 2.3 billion shares traded. Still, both the FTSE 100 and FTSE 250 saw gains on the day. The 100 added 0.5 percent to 5,897.9, while the 250 was 0.6 percent higher to 9,359.6.

    In the pharmaceuticals sector, Shire was 0.7 percent higher to 888p on the news that it has reached a settlement with Barr Laboratories that will keep Barr from marketing a generic version of Shire’s attention deficit disorder drug Adderrall until 2009. Adderrall accounts for about 50 percent of Shire’s sales.

    Homebuilders were also up on the session as rumors of consolidation within the sector circulated. Bellway gained 1.8 percent to £11.95, while Barratt Developments added 2.3 percent to 951½p and Bovis Homes was 2.4 percent higher to 811p.

    In the telecommunications sector, Carphone Warehouse advanced by 3 percent to 263¾p amid rumors that a private equity company had offered 330p per share for the company.

    Man Group was 2.2 percent higher to 415p, while Amvescap added 2.3 percent to 517½p as fund managers benefited from the notion that weaker than expected data out of the United States would make it more likely that the Federal Reserve will keep interest rates at their current level rather than increasing them at its next meeting.





    June 9, 2006

    FTSE 100 up 1.7 on day, loses 1.9 on week

    Filed under: Companies, RBS, Northern Rock, Xstrata, Anglo American, Aviva, Lonmin, Vedanta Resources, HBOS, HSBC, Man Group

    In London on Friday, the FTSE 100 closed up 1.7 percent to 5,655.2, while the FTSE 250 added 2.4 percent to 9,024.7 on a volume of 2.6 billion shares traded. Despite the gains, the 100 closed out the week 1.9 percent lower overall, while the 250 lost 4.5 percent during the week.

    Banks contributed to Friday’s gains, with an upgrade from “underweight” to “neutral” from Merrill Lynch, which said that with global economies growing and inflation under control, banks continued to be in a growth phase. HSBC added 1.2 percent to 934p, Royal Bank of Scotland was up 2.6 percent to £17.86, HBOS gained 3.1 percent to 965p on positive comments from Credit Suisse, and Northern Rock advanced by 3.8 percent to £10.05.

    Miners also did well. Among the blue chips, Xstrata added 4.3 percent to £18.93 and Anglo American was up 4.9 percent to £19.36. Mid-caps also saw advances, as Lonmin gained 6.4 percent to £23.90, while Vedanta advanced by 7.2 percent to £12.05.

    In the insurance sector, Aviva added 2.3 percent to 729½p on rumors that hedge funds were looking at the company’s shares. Meanwhile, fund manager Man Group advanced by 2.7 percent to £23.42 on an upgrade from “overweight” to “buy” from Bridgewell Securities.





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