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    October 18, 2007

    House builders, property developers down in London

    Filed under: Companies, DSG international, Hammerson, Mitchells & Butlers, Wolseley, Smith & Nephew, Barratt Developments, St Modwen, Rexam, Sports Direct, Taylor Wimpey, Quintain Estates & Development, Brixton

    In London on Thursday, the FTSE 100 dropped 1.02 percent to 6,609.4 and the FTSE 250 was 1.1 percent lower to 11,411.6.

    House builders and property developers and investors did poorly on both indices.

    Investor and developer Brixton (LSE: BXTN) was down 4.42 percent to 345.75p, while Hammerson (LSE: HMSO) was 4.74 percent lower to £10.66.

    Quintain Estates & Development (LSE: QED) dropped 4.87 percent to 673.5p and St. Modwen Properties (LSE: SMP) fell 4.9 percent to 480.75p.

    Builder and developer Barratt Developments (LSE: BDEV) was down 5.12 percent to 658.5 while Taylor Wimpey (LSE: TW) dropped 5.15 percent to 253.25.

    In addition, building materials group Wolseley (LSE: WOS) was 4.57 percent lower to 786p.

    The biggest loser on the 100, however, was consumer electronics retailer DSG International (LSE: DSGI), which fell 8.75 percent to 124.1p after it reported that first half profits were hurt by poor sales.

    Elsewhere in the retail sector, sporting goods retailer Sports Direct (LSE: SPD) dropped 5.11 percent to 148.5p.

    Medical devices manufacturer Smith & Nephew (LSE: SN) turned in the best performance on the 100 with a gain of 2.67 percent to 615p.

    Other gainers included beverage cans maker Rexam (LSE: REX), which was up 1.99 percent to 538p and pubs operator Mitchells & Butlers (LSE: MAB) with a gain of 1.58 percent to 641p.





    August 31, 2007

    Rio Tinto gains on takeover approval

    Filed under: Companies, Schroders, Rio Tinto, Wm Morrison, Vedanta Resources, Tate & Lyle, Mitchells & Butlers, Imperial Tobacco, Persimmon, Home Retail, John Wood Group, Melrose, Euromoney Institutional Investor, Pendragon

    London equities markets saw gains Friday.

    The FTSE 100 was 1.47 percent higher to 6,303.3 and the FTSE 250 was up 1.89 percent to 11,309.2.

    Miners were higher as metals prices advanced.

    Vedanta Resources had the best day on the 100, adding 4.38 percent to £17.63.

    Rio Tinto (LSE: RIO; ASX: RIO) was right behind with a gain of 3.72 percent to £34.30 after it gained approval from the Canadian government to proceed with its takeover of Alcan (TSX: AL; NYSE: AL).

    Other gainers on the 100 included Imperial Tobacco (LSE: IMT), which added 3.22 percent to £22.41.

    Supermarket chain Wm Morrison (LSE: MRW) gained 3.15 percent to 286.25p, while food processor Tate & Lyle (LSE: TATE) was 3.11 percent higher to 564.5p.

    Engineering group Melrose (LSE: MRO) was the best performer on the 250, adding 9.97 percent to 190.25p.

    Consumer goods retailer Home Retail (LSE: HOME) had the worst day on the 100, dropping 1.07 percent to 414.25p, while publisher Euromoney Institutional Investor (LSE: ERM) saw the biggest decline on the 250, falling 4.34 percent to 540p.

    Also on the 250, auto sales group Pendragon (LSE: PDG) dropped 2.26 percent to 75.75p, while builder John Wood Group (LSE: WG.) fell 1.09 percent to 361.5p.

    Back on the 100, non-voting shares in investment manager Schorders (LSE: SDRt.L) were 0.26 percent lower to £11.43, while house builder Persimmon (LSE: PSN) dropped 0.52 percent to £11.57 and pubs operator Mitchells and Butlers (LSE: MAB) was down 0.77 percent to 712.5p.





    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 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.





    July 19, 2007

    Property investors do well on FTSE 250

    Filed under: Companies, Standard Chartered, Antofagasta, Aquarius Platinum, British Energy, BAE Systems, Vedanta Resources, Mitchells & Butlers, Old Mutual, Shaftesbury, Minerva, Wetherspoon

    In London, the FTSE 100 added 1.11 percent to 6,640.2, while the FTSE 250 gained 1.32 percent to 11,880.2.

    Miner Antofagasta (LSE: ANTO) was the best performer on the 100, where it was 5.37 percent higher to 725.5p.

    The sector was mixed, however.

    While Vedanta Resources (LSE: VED) was also higher, adding 4.22 percent to £18.04, Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP) was had the worst day on the 250, falling 3.41 percent to £16.15.

    Property investment company Shaftsbury (LSE: SHB) did the best on the session on the 250, adding 9.16 percent to 608p. In the same sector, Minerva (LSE: MNR) gained 6.71 percent to 330p.

    Back on the 100, aerospace and defense group BAE Systems (LSE: BA; OTCBB: BASEY) was 4.79 percent higher to 421.25p on the news that its proposed acquisition of Armor Holdings (NYSE: AH), which makes military and law enforcement equipment, has been approved by US antitrust authorities.

    Insurer Old Mutual (LSE: OML; JSE: OLOML) was 4.58 percent higher to 175.9p on the news that Nedbank (JSE: NED), a South African bank in which it holds the majority stake, is in talks with Standard Chartered concerning a takeover.

    Standard Chartered (LSE: STAN; SEHK: 2888) was lower on the report, dropping 0.77 percent to £16.71.

    Pubs operators were lower on the session after Mitchells and Butlers (LSE: MAB) had the worst day on the 100, dropping 3.25 percent to 863p after a broker downgrade from “hold” to “sell” and the setting of a target share price at 790p on a report of a possible property deal.

    In the same sector, JD Wetherspoon (LSE: JDW) fell 1.29 percent to 611p.

    British Energy (LSE: BGY) was 1.23 percent lower to 523p after its chairman said that the power generator’s nuclear power output last year was “disappointing”.





    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.





    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 29, 2007

    London markets mixed in slow trade

    Filed under: Companies, BA, BAT, J Sainsbury, SAB Miller, Mitchells & Butlers, Imperial Tobacco, Yell

    The London equities markets were mixed on Monday as only 2.5 billion shares traded hands on the session. The FTSE 100 added 0.2 percent to 6,239.9, but the FTSE 250 dropped 0.1 percent to 11,104.

    In the airlines sector, British Airways added 2.7 percent to 542p as investors were relieved that a threatened 2-day strike by cabin crew members had been avoided.

    Tobacco did well ahead of results due later in the week from British American Tobacco. Citigroup said that BAT could return an estimated £1.5 billion to shareholders without harm to its credit rating. The figure was much higher than the £500 million it currently returns each year. BAT gained 2.8 percent to a record high share price of £15.60. Imperial Tobacco was 0.8 percent higher, to £21.24.

    Publisher Yell Group gained 1.5 percent to 608p on positive comments from Merrill Lynch.

    Pubs operator Mitchells & Butlers was 1 percent higher to 686½p on reaction to the news that financier Robert Tchenguiz has increased his holding in the company to almost 15 percent.

    Brewer SABMiller dropped 1.1 percent to £11.70 as Goldman Sachs took it off it’s “buy” list on valuation concerns.

    J. Sainsbury also fell 1.1 percent, to 432½p, as one shareholider placed 12 million shares with Morgan Stanley. The shares were priced at 432p each.





    June 21, 2006

    FTSE 100 closes at 5,665

    Filed under: Companies, ITV, PartyGaming, Kazakhmys, Lonmin, Vodafone, Vedanta Resources, Mitchells & Butlers

    London equities markets were mixed on Wednesday as the FTSE 100 added 0.12 percent late in the day to close at 5,665, but the FTSE 250 lost 0.3 percent to 9,093.1. Once again, volumes were low with only 2.5 billion shares changing hands.

    Eighteen percent of all the shares traded on the day were from Vodafone, which ended the day up 0.2 percent to 114¼p.

    The 100’s gains were helped by the mining sector, where stocks advanced as the prices of metals rose. Vedanta Resources added 2.5 percent to £13.09, while Lonmin gained 2.9 percent to £26.41 and Kazakhmys was up 3.1 percent to £10.95.

    Online gamer PartyGaming added 3.25 percent to 119¼p on rumors that one US bank was telling its customers to buy shares because current attempts to make online gambling illegal in the US will not succeed.

    In the media sector, ITV added 2.7 percent to 105¼p despite a negative trading update, as the broadcaster announced an increase in its share buyback.

    Mitchells & Butlers added 0.4 percent to 505¼p. However, analysts said that it could have trouble on Thursday after an after-session announcement that Violet Capital, controlled by financier Robert Tchenguiz, no longer owns a reportable share of the pub operator.





    May 25, 2006

    US legislation could hurt UK online gaming stocks

    Filed under: Companies, PartyGaming, Kazakhmys, Antofagasta, BAA, Vodafone, BT Group, Cable and Wireless, Mitchells & Butlers

    London’s equities markets were up on the day Thursday as the FTSE 100 added 1.6 percent to 5,677.7 and the FTSE 250 gained 1.5 percent to 9,190.5.

    The telecoms sector was mixed on the day. BT Group added 1.45 percent to 226¾p on rumors that Deutsche Telecom is thinking about proffering a bid. The rumor, reported by a German business magazine, was considered possible by many analysts. Elsewhere in the sector, Vodafone was up 3.5 percent to 118p on a “buy” recommendation from Credit Suisse. Cable & Wireless, however, dropped 2.5 percent to 97½p after it issued a disappointing full-year report and a cancellation of its announced share buyback.

    PartyGaming was up 0.8 percent to 123¾p, but analysts believe that shares in the online gaming business will open 3 to 4 percent lower tomorrow, taking into account that just before the close of the trading day the US House Judiciary Committee approved legislation outlawing online gambling in the United States, sending the bill on to the full house for a vote.

    Airports operator BAA dropped 5.6 percent to 787½p on news that the Office of Fair Trading will investigate the UK airport industry to determine whether the current structure of the market works to the advantage of consumers.

    Gainers included pub operator Mitchells & Butlers, up 3.7 percent to 499¼p when stake building rumors by Robert Tchenguiz continued to circulate.

    The mining sector also saw gains as metals prices rebounded. Kazakhmys added 5.4 percent to £10.76, while Antofagasta gained 3.6 percent to £20.68.





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