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    September 11, 2007

    Rentokil in worst day on 100

    Filed under: Companies, DSG international, BHP Billiton, Tesco, Barclay's, Next, JJB Sports, Rentokil Initial, Minerva, Sports Direct, Aveva Group

    London’s equities markets were up significantly on Tuesday.

    The FTSE 100 added 2.39 percent to 6,280.7, while the FTSE 250 gained 2.16 percent to 11,212.3.

    There were only two losers on the 100.

    Consumer electronics retailer DSG International (LSE: DSGI) dropped 0.2 percent to 146.9p.

    Pest control and facilities services group Rentokil Initial (LSE: RTO; OTC: RTOKY) had the worst day on the 100 as it fell 0.52 percent to 170.9p.

    Meanwhile, sports retailers had a bad day on the 250. Sports Direct (LSE: SPD) was 4.55 percent lower to 131p, while JJB Sports (LSE: SPD) had the worst day on the 250 with a decline of 14.20 percent to 172.25p on a profits warning.

    There were gains in the retail sector, however.

    Clothing retailer Next (LSE: NXT) added 4.25 percent to £19.40, while food retailer Tesco (LSE: TSCO) was up 4.39 percent to 433.5p.

    In the mining sector, BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) gained 4.25 percent to £14.71.

    The best performance on the 100 came from the banking sector, where Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) was 4.74 percent higher to 607.5p after it said it had a profitable month in August.

    Electronics engineers Aveva Group (LSE: AVV) was the best performer on the 250 with a gain of 6.7 percent to 940p. Property developer Minerva (LSE: MNR) added 6.34 percent to 272.5p.





    August 3, 2007

    Insurers mixed in London

    Filed under: Companies, International Power, Friends Provident, Royal & Sun Alliance, Next, JKX Oil & Gas, Old Mutual, Whitbread, Tomkins, Standard Life, Punch Taverns, Cookson Group

    In London on Friday the FTSE 100 was 1.21 percent lower to 6,224.3 and the FTSE 250 fell 0.42 percent to 11,185.8.

    Insurers were mixed on the day.

    Royal Sun & Alliance (LSE: RSA; OTC: RSA) was the best performer on the 100 as it added 1.71 percent to 131.2p after JP Morgan (NYSE: JPM; TYO: 8634).

    Friends Provident (LSE: FP) was also higher, gaining 0.53 percent to 191.2p.

    But Old Mutual (LSE: OML; JSE: OLOML) had the worst day on the 100, falling 4.73 percent to 155.1p while Standard Life (LSE: SLET) was also lower, dropping 3.32 percent to 305.75p after Panmure Gordon (LSE: DUC) cut its target share price from 370p to 346p.

    Pubs operators also saw declines on the 100, with Whitbread (LSE: WTB) 3.34 percent lower to £15.35 and Punch Taverns (LSE: PUB) down 3.6 percent to £10.72.

    Other gainers on the 100 included clothing retailer Next (LSE: NXT), which added 1.02 percent to £18.87.

    Electricity generator International Power (LSE: IPR; NYSE: IPR) was 1.55 percent higher to 426p.

    Engineering group Tomkins (LSE: TOMK; NYSE: TKS) had the best day on the 250, adding 7.44 percent to 249.25p on second quarter profits that were down less than had been expected and after Cazenove raised its recommendation from “underperform” to “in-line”.

    In the electronics sector, Cookson Group (LSE: CKSN; OTC: CKSNY) gained 3.93 percent to 753.5p after Merrill Lynch (NYSE: MER; TYO: 8675) raised its target share price from 815p to 850p.

    JKX Oil & Gas was the biggest loser on the 250 for the day, dropping 4.04 percent to 362.25p.





    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 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 16, 2007

    UK retailers gain on broker upgrades

    Filed under: Companies, Amvescap, Next, GCap Media, Kingfisher, Compass Group

    The London equities markets were lower on Friday, with the FTSE 100 down 0.2 percent to 6,149.5. The FTSE 250 dropped 0.1 percent to 11,556.4. Only 2.6 billion shares traded hands in a day of light trade. Despite the slow day and the declines, the 100 added 0.6 percent over the full week and the 250 was up 0.3 percent over the five sessions.

    The retail sector saw gains. After an upgrade from “sell” to “buy” from Societe Generale, Kingfisher added 3.5 percent to 259½p. The broker also raised Kingfisher’s target share price to 342p. Next gained 1.8 percent to £20.93, also on an upgrade. Goldman Sachs raised its rating on the clothing retailer from “neutral” to “buy”, calling it a consolidation target.

    Caterer Compass gained 0.9 percent to 312p after issuing a positive trading update.

    Amvescap was 1.5 percent higher to 632p after it said it was thinking about changing its primary lisitng to the US. The fund manager, which is in process of changing its name to Invesco, does the vast majority of its business in North America. Citigroup said that if Amvescap does switch its listing, share prices could go up. Currently its share price is around 20 percent lower than US rivals such as T Rowe Price.

    In the media sector, Gcap Media dropped 9.9 percent to 217p after UBS placed 13.6 million shares of the owner of Capital Radio for an institutional client at a price of 225p. That number of shares represents 8.2 percent of the company.





    January 3, 2007

    UK retailers see gains

    Filed under: Companies, Northern Rock, BAT, Xstrata, DSG international, Antofagasta, Alliance & Leicester, Next, Vedanta Resources, Imperial Tobacco, Royal Bank of Scotland

    The London equities markets made little headway on Wednesday as investors took profits and waited to see new data from out of the United States before spending too much money. At midday, the FTSE 100 was 0.1 percent higher to 6,315.9, while the FTSE 250 was up just 4.1 points to 11,316.6. By the end of the day the 100 had managed just a bit more, closing up 0.13 percent to 6319.

    Miners were down during the day, caught up in the profit taking. Vedanta Resources dropped 4.5 percent to £11.75, while Xstrata fell 4.6 percent to £24.48 and Antofagasta was 5.2 percent lower to 489p.

    Shares in tobacco companies were higher after falling on Tuesday on the news that government officials in the UK are thinking about raising the legal smoking age from 16 to 18. Imperial Tobacco added 0.9 percent to £20.55, while British American Tobacco gained 1.4 percent to £14.80.

    The financial sector was up as well after UBS issued positive comments on the sector as a whole. Northern Rock was 1.4 percent higher to £12.10, while Alliance & Leicester also added 1.4 percent, to £11.69. Royal Bank of Scotland gained 1.8 percent to £20.73.

    Retailers also saw gains. Next added 1.3 percent to £18.65, while DSG International was 1.7 percent higher to 198¾p.





    December 18, 2006

    Cairn energy down again on Indian IPO

    Filed under: Companies, Carnival, Cairn Energy, Next, Smith & Nephew, Petrofac

    The London equities markets were mixed on Monday on slow trade in the run-up to Christmas. The FTSE 100 dropped 0.2 percent to 6,257.4, while the FTSE 250 was up a bare 1.7 points to 11,087.7, with less than 2.5 billion shares trading hands.

    In the leisure sector, cruise ship operator Carnival added 2.2 percent to £25.04 as oil prices declined. Also helping was a repeated “buy” rating from Deutsche Bank.

    Retailer Next benefited from an increased target share price and positive comments from Merrill Lynch. The clothing retailer was 1.3 percent higher to £18.14.

    Smith & Nephew added 8.1 percent to 521¾p for the biggest gain on the 100 on the session. Merrill Lynch upgraded the orthopedics company to “buy” and put its target share price at 580p on the theory that it is a target for takeover after it lost its bid to purchase US company Biomet.

    Oilfield services company Petrofac saw the largest gain on the 250, gaining 4.8 percent to 395¾p, a new record, after it said its profits for the year will hit the top of the range of expectations.

    Losers incuded Cairn Energy, which dropped another 2.8 percent to £18.61 after its Indian IPO was less than successful, with shares riding in the bottom end of the range.





    November 27, 2006

    Leisure sector, homebuilders help FTSE 250 avoid big losses

    Filed under: Companies, Corus, BAE Systems, Next, MyTravel, Debenhams, First Choice Holidays, Wilson Bowden

    In London on Monday, the FTSE 100 was 1.2 percent lower to 6,050.1, its lowest close since early October and its largest one day percentage decline since the end of September. Meanwhile, the FTSE 250 also declined, dropping 0.9 percent to 10,493.6.

    The retail sector saw declines on slow sales for clothing retailers due to mild weather so far this autumn. Debenhams dropped 1 percent to 194p, while Next fell 2 percent to £17.94. Rumors have underlying sales at Next down by up to 20 percent year-on-year.

    In the steel sector, Corus was 1 percent lower to 499½p on worries that pension fund trustees might hold up merger talks with CSN of Brazil. Elsewhere, concerns that the government of Saudi Arabia might pull out of deal to buy 72 Eurofighter planes sent BAE Systems down 3.1 percent to 391p/

    The 250 was saved from further declines by advances in the homebuilders sector when Wilson Bowden gained 14.6 percent to £20.98 after it said it has received several takeover inquiries. The mid-caps index was also helped by the news that First Choice Holidays is talking about selling its package tour operations to My Travel. My Travel was 7.1 percent higher to 214p, while First Choice gained 12 percent to 257p.





    October 18, 2006

    Corus adds 1.7 percent on bids rumor

    Filed under: Companies, Corus, Daily Mail, Johnston Press, Trinity Mirror, British Energy, Tesco, National Grid, Next, BSkyB

    The London equities markets saw gains on Wednesday, with the FTSE 100 adding 0.7 percent to 6,150.4 and the FTSE 250 gaining 1.2 percent on the session to close at 10,342.

    The media sector saw gains after upgrades for the sector. BSkyB was 0.9 percent higher to 552½p after JP Morgan said that it could top its target for subscribers for 2010. Elsewhere in the sector, Johnston Press added 2.3 percent to 428¾p, while Trinity Mirror gained 3 percent to 502½p and Daily Mail & General Trust was up 3.1 percent to 657p.

    Steelmaker Corus added 1.7 percent to 487p on rumors that CSN, the Brazilian steelmaker was ready to top Tata Steel’s bid, worth 455p per share. The bid rumors were denied after the close of the session.

    In the energy sector, British Energy was up 5.2 percent to 474p on rumors that a European utility could bid for the UK government’s 65 percent of the company. On the other hand, National Grid dropped 1.6 percent to 674½p.

    The retail sector was also mixed, with Tesco up 1.5 percent to 390p, a record high share price, on speculation that it will raise its earnings forecast. However, clothing retailer Next dropped 1 percent to £18.51 on rumors that it is preparing to issue a profits warning.





    September 13, 2006

    Tour operators down in London

    Filed under: Companies, Marks & Spencer, Cable and Wireless, Next, ICI, MyTravel, First Choice Holidays, AWG

    The London equities markets were mixed on Wednesday. While the FTSE 100 lost early gains to end the session 0.1 percent lower to 5,892.2, the FTSE 250 added 0.6 percent to 9,669.2.

    The leisure tours and travel sector was lower on the session. First Choice Holidays was down by 3.9 percent to 208¼p. Meanwhile, My Travel Group dropped 6.3 percent to 188p, for the 250’s biggest loss on the session, after issuing a profits warning. In addition, UBS put 13 million shares of My Travel Group up for sale for an institutional client.

    Retailers saw gains, however. Next added 7.6 percent to £18.34, a new record high for the clothing retailer, on the news that its half-year report exceeded analyst expectations. This news also helped Marks & Spencer, which gained 2.6 percent to 611p.

    Also ahead on the day was AWG, Anglian Water’s parent company, which was 3.3 percent higher to £13.62 on bids rumors. ICI gained 0.7 percent to 378¼p after there was talk that it could be considering a bid for rival specialty chemicals company Clariant.

    Cable & Wireless added 1.2 percent to 128½p in anticipation of good news from its international division in a report due next week.





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