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    October 19, 2007

    Home builders see gains in London

    Filed under: Companies, Northern Rock, WPP, AstraZeneca, Scottish and Newcastle, HBOS, Persimmon, Barratt Developments, Redrow, Resolution, Alfred McAlpine, DS Smith

    London’s markets were lower again on Friday.

    The FTSE 100 dropped 1.23 percent to 6,527.9 while FTSE 250 fell 0.98 percent to 11,299.3.

    Insurer Resolution (LSE: RSL) had the best day on the 100 as it gained 2.12 percnet to 722p.

    Housebuilders and the construction sector more generally were higher on both the 100 and the 250.

    Persimmon (LSE: PSN) was up 1.15 percent to 971p and Barratt Developments (LSE: BDEV) was 1.29 percent higher to 667p on the 100, while over on the 250 house builder Redrow (LSE: RDW) gained 3.03 percent to 383p and construction group Alfred McAlpine (LSE: MCA) added 3.54 percent to 555p.

    Other gainers included paper group DS Smith (LSE: SMPS), which was up 5.31 percent to 228p on the 250.

    Brewer Scottish & Newcastle (LSE: SCTN) was 1.19 percent higher to 766.5p on the 100.

    Banks were lower, with Northern Rock (LSE: NRK) again leading the losers on the 100 with a decline of 8.61 percent to 186.9p.

    Elsewhere in the sector, HBOS (LSE: HBOS) dropped 2.91 percent to 835p.

    In the pharmaceuticals sector Astra Zeneca (LSE: AZN; NYSE: AZN) was down 3.64 percent to £24.61 after the revocation of an inhaler patent by European authorities and a downgrade from “neutral” to “sell” by UBS.

    Advertising group WPP (LSE: WPP; NAS: WPPGY) fell 4.18 percent to 665p after it reported quarterly revenues that were at the low end of expectations.





    October 17, 2007

    Brewers higher on bids rumors

    Filed under: Companies, Northern Rock, BP, Rio Tinto, Tesco, Wm Morrison, Scottish and Newcastle, Tate & Lyle, SAB Miller, Imperial Tobacco, Sports Direct

    In London on Wednesday, the FTSE 100 added 0.96 percent to 6,677.7 and the FTSE 250 gained 1.51 percent to 11,538.

    The big gainer on the 100 was brewer Scottish & Newcastle (LSE: SCTN), which jumped 18.77 percent to 756p after Carlsberg (OMX: CARL A, CARL B) and Heineken (Euronext: HEIA) said they are in talks concerning forming a consortium to make a bid for the UK brewer.

    Elsewhere in the sector SAB Miller (LSE: SAB) added 2.3 percent to £14.62.

    Among retailers, supermarkets also saw gains.

    Tesco (LSE: TSCO) was 1.9 percent higher to 475p, while Wm Morrison (LSE: MRW) gained 4.09 percent to 298.75p.

    Elsewhere in the retail sector, sporting goods retailer Sports Direct (LSE: SPD) was up 10.99 percent to 156.5p for the best day on the 250.

    Other gainers included food processor Tate & Lyle (LSE: TATE), which was 7.63 percent higher to 455p, and Imperial Tobacco Group (LSE: IMT) with a gain of 4.31 percent to £23.97.

    In the banking sector, Northern Rock was back in the losing column dropping 7.16 percent to 207.5p for the worst day on the 100.

    Miner Rio Tinto (LSE: RIO) fell 1.47 percent to £43.54 after it said iron production dropped 2 percent in the quarter ending September 30 from the previous quarter.

    In the oil sector, BP (LSE: BP; NSYE: BP; TYO: 5051) was 1.2 percent lower to 619.5p.





    October 16, 2007

    Oil sector, banks mixed in London

    Filed under: Companies, Northern Rock, BG Group, Royal Dutch Shell, BP, Tullow Oil, Antofagasta, Bradford & Bingley, Alliance & Leicester, Dana Petroleum, Johnson Matthey

    London’s markets were lower Tuesday.

    The FTSE 100 was down 0.45 percent to 6,614.3 while the FTSE 250 fell 0.64 percent to 11,366.2.

    The oil sector was mixed as crude oil prices climbed again.

    BG Group (LSE: BG; NYSE: BG) was up 2.12 percent to 914p, while BP (LSE: BP; NYSE: BP; TYO: 5051) was 0.72 percent higher to 627p.

    Royal Dutch Shell’s (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) B shares added 1.27 percent to £20.81 and it’s A shares gained 1.46 percent to £20.86.

    But Tullow Oil (LSE: TLW; OTC: TUWLY) fell 0.24 percent to 624p and Dana Petroleum (LSE: DNX) was 1.86 percent lower to £12.63.

    Banks were mixed as well.

    Northern Rock (LSE: NRK) continued its roller-coaster ride, adding 3.35 percent to 223.5p, while Alliance & Leicester (LSE: AL) gained 2.79 percent to 775p, but they were the only gainers among big banks in the UK.

    Mortgage lender Bradford & Bingley (LSE: BB) dropped 3.14 percent on the session to 254.5p.

    Some miners were lower, with Antofagasta (LSE: ANTO) falling 2.81 percent to 829p.

    Johnson Matthey (LSE: JMAT), the biggest gainer on the 100 on Monday, fell 4.73 percent to £17.53 for the worst performance on the session.





    October 15, 2007

    BP, Royal Dutch Shell gain on higher oil prices

    Filed under: Companies, Northern Rock, Royal Dutch Shell, BP, Alliance & Leicester, Rank Group, Johnson Matthey, SAB Miller, Venture Production, QXL Ricardo

    In London, the FTSE 100 dropped 1.28 percent on Monday to 6,644.5 while the FTSE 250 fell 1.18 percent to 11,439.9.

    The oil sector was higher on higher prices and on continued tensions between Turkey and Kurdish-controlled northern Iraq.

    Royal Dutch Shell’s (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) B shares added 0.69 percent to £20.55 while it’s A shares gained 0.54 percent to £20.56.

    BP (LSE: BP; NYSE: BP; TYO: 5051) was up 0.57 percent to 622.5p while Venture Production (LSE: VPC) jumped 4.29 percent to 766.5p.

    The biggest gainer on the 100 was chemicals group Johnson Matthey (LSE: JMAT) added 9.92 percent to £18.40.

    On the other hand, the worst performance on the 100 was turned in by Northern Rock (LSE: NRK), which dropped 20.86 percent to 216.25p after saying that while it is talking to several possible bidders, the talks are in an early stage.

    Elsewhere in the banking sector, Alliance & Leicester (LSE: AL) was down 5.81 percent to 754p.

    Brewer SAB Miller (LSE: SAB) fell 4.72 percent to £14.13 after it said that while volume is up overall, sales have been slow in Latin America.

    Over on the 250, the best performer on the day was online auctioneer QXL Ricardo (LSE: QXL), which added 4.58 percent to £12.55.

    Holding company Rank Group (LSE: RNK) was the biggest loser of the day on the 250, where it fell 12.20 percent to 109.75p.





    October 12, 2007

    Virgin Group rumored to be planning Northern Rock rescue

    Filed under: Companies, Northern Rock, BP, Dana Petroleum, Rank Group, Persimmon, Barratt Developments, Hunting, Taylor Wimpey, Moneysupermarket.com

    In London the FTSE 100 added 0.09 percent to 6,730.7, but the FTSE 250 dropped 0.4 percent to 11,576.3.

    Northern Rock moved back into the gainers column with the best day on the 100, adding 5.91 percent to 273.25p on the possibility that Virgin Group is looking at a rescue of the troubled bank.

    The oil sector was mixed on the session.

    Dana Petroleum (LSE: DNX) was 3.66 percent higher to £13.04 and BP (LSE: BP; NYSE: BP; TYO: 5051) was up 4.3 percent to 619p, but Hunting (LSE: HTG) dropped 3.58 percent to 755p.

    Online price comparison site Moneysupermarket.com (LSE: MONY) led the 250 with a gain of 4.8 percent to 191p.

    The biggest loser on the 250 was holding company Rank Group (LSE: RNK), which fell 21.38 percent to 125p on the session.

    House builders were still feeling the pain of Thursday’s new data showing that home prices fell again in September.

    Persimmon (LSE: PSN) was 2.69 percent lower to 976p, while Barratt Developments (LSE: BDEV) was down 3.19 percent to 699p and Taylor Wimpey (LSE: TW) dropped 3.27 percent to 281.25p.





    October 11, 2007

    Commodities-related companies higher on session

    Filed under: Companies, Northern Rock, BG Group, Tullow Oil, Aquarius Platinum, Randgold, Vedanta Resources, Bellway, Bovis Homes Group, Persimmon, Barratt Developments, Hunting, Redrow, Taylor Wimpey

    In London on Thursday, the FTSE 100 was 1.38 percent higher to 6,724.5 while the FTSE 250 gained 0.96 percent to 11,622.9.

    Commodities-related shares were higher on the session.

    Vedanta Resources (LSE: VED) had the best day on the 100 as it added 5.8 percent to £23.17, while oil refiner and distributor Hunting (LSE: HTG) was the best performer on the 250 with a gain of 10.28 percent to 783p.

    Elsewhere among miners, gold miner Randgold (LSE: RSS; NAS: GOLD) was 7.43 percent higher to £17.35 and Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP) jumped 9.42 percent to £18.47.

    Back in the oil sector, Tullow Oil (LSE: TLW; OTC: TUWLY) was up 4.68 percent to 626.5p, while BG Group (LSE: BG; NYSE: BG) added 4.74 percent to 883p.

    Among banks, Northern Rock (LSE: NRK) slipped again, dropping 5.67 percent to 258p for the worst performance of the session on the 100.

    Meanwhile, the house building sector and property developers had a bad day after the Royal Institution of Chartered Surveyors reported that house prices were lower in the UK again in September.

    Bovis Homes (LSE: BVS) was down 2.56 percent to 684p and Bellway (LSE: BWY) dropped 2.89 percent to £10.76.

    Barratt Developments (LSE: BDEV) was 3.54 percent lower to 722p, Persimmon (LSE: PSN) fell 4.02 percent to £10.03 and Redrow (LSE: RDW) was down 4.31 percent to 388.5p.

    Taylor Wimpey (LSE: TW) fell 4.28 percent to 290.75p.





    October 10, 2007

    Northern Rock adds 32 percent

    Filed under: Companies, Northern Rock, Schroders, Shire, Barclay's, HBOS, Experian, Severfield-Rowen, Benfield Group

    London’s equities markets saw gains on the session Wednesday.

    The FTSE 100 was 0.27 percent higher to 6,633 and the FTSE 250 gained 0.74 percent to 11,512.1.

    In the banking sector, Northern Rock (LSE: NRK) added 32.29 percent to 273p after a hedge fund based in Monaco purchased a 4 percent stake in the troubled financial institution.

    Other banks did not do as well on the day.

    Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) was down 1.5 percent to 655.5p, while HBOS (LSE: HBOS) fell 3.09 percent to 926p after Lehman Brothers downgraded the bank from “overweight” to “underweight” and dropped its target share price from £10.46 to £10.28.

    Voting shares in investment manager Schroders (LSE: SDR.L) added 5.71 percent to £15, while non-voting shares (LSE: SDRt.L) were up 4.27 percent to £12.94.

    Business services group Experian (LSE: EXPN) had the worst day on the 100, where it fell 7 percent to 505p.

    In the pharmaceuticals sector, meanwhile, Shire (LSE: SHP; NAS: SHPGY) dropped 2.1 percent to £12.15.

    Reinsurer Benfield Group (LSE: BFD) was 2.83 percent lower to 724.25p, while construction group Severfield-Rowen (LSE: SFR) fell 2.65 percent to 552p.





    October 8, 2007

    Northern Rock higher on news report

    Filed under: Companies, Northern Rock, Xstrata, Kazakhmys, British Land, Bradford & Bingley, Alliance & Leicester, Scottish and Newcastle, Vedanta Resources, Minerva, Carpetright, Marston's

    London’s markets were down on Monday.

    The FTSE 100 was 0.83 percent lower to 6,540.9 while the FTSE 250 was 0.54 percent lower to 11,328.7.

    Northern Rock (LSE: NRK) gained 8.83 percent to 172.5p for the best performance on the 100, on a Sunday Times report that Citibank (NYSE: C) could lend the bank £10 billion.

    But Alliance & Leicester (LSE: AL) was lower, falling 2.64 percent to 773p.

    Carpet and floor retailer Carpetright (LSE: CPR) had the best day on the 250, adding 4.13 percent to £11.61.

    Brewer and pubs operator Marston’s (LSE: MARS) was the biggest loser on the 250, dropping 5.51 percent to 347.25, but brewer Scottish & Newcastle (LSE: SCTN) gained 2.05 percent to 622p on takeover speculation.

    Miners were lower on the 100.

    Xstrata (LSE: XTA) was down 3.25 percent to £32.12 and Vedanta Resources was 4.31 percent lower to £20.86, while Kazakhmys (LSE: KAZ) fell the most on the 100, down 5.89 percent to £15.02 on the news that copper cathode production is expected to fall.

    Property developers and investors were lower.

    British Land (LSE: BLND) dropped 2.85 percent to £10.92, while Minerva (LSE: MNR) fell 4.62 percent to 232.25p.

    Mortgage lender Bradford & Bingley (LSE: BB) was down 5.18 percent to 270.25p.





    October 3, 2007

    Northern Rock gains on takeover rumors

    Filed under: Companies, Northern Rock, PartyGaming, Alliance & Leicester, Vodafone, Cable and Wireless, Royal & Sun Alliance, Carphone Warehouse, Old Mutual, Punch Taverns, Home Retail, Sports Direct, Close Brothers Group, Taylor Wimpey

    London’s markets saw gains as well, with the FTSE 100 adding 0.54 percent to 6,535.2 and the FTSE 250 was up 1.15 percent to 11,360.2.

    Northern Rock (LSE: NRK) led the 100 with a gain of 11.95 percent to 151.8p on rumors that a US private equity group has arranged funding for a possible takeover.

    Alliance & Leicester (LSE: AL) was also higher, adding 7.06 percent to 880p.

    But the banking sector was not universally higher.

    Merchant bank Close Brothers Group (LSE: CBG) was down 3.47 percent to 794p for the worst day on the 250.

    The insurance sector was also mixed.

    While Old Mutual (LSE: OML; JSE: OLOML) was up 4.74 percent to 168p, Royal Sun & Alliance (LSE: RSA) was 1.73 percent lower to 153.1p.

    Other gainers included house builders Taylor Wimpey (LSE: TW), which added 4.16 percent to 300.75p, and pubs operator Punch Taverns (LSE: PUB) with a gain of 3.87 percent to £10.46.

    PartyGaming (LSE: PRTY) was 7.83 percent higher to 31p to lead the 250 on the session.

    The worst performance of the day on the 100 came from the telecommunications sector as Vodafone (LSE: VOD; NYSE: VOD; FWB: VOD) dropped 2.51 percent to 171.1p.

    Elsewhere in the sector, Cable & Wireless (LSE: CW) was 1.65 percent lower to 185.2p.

    Retailers had a difficult day of it.

    Sporting goods retailer Sports Direct (LSE: SPD) fell 3.43 percent to 133.75, while Carphone Warehouse (LSE: CPW) was down 1.52 percent to 340.75p and Home Retail (LSE: HOME) was 2.27 percent lower to 398.25p.





    September 27, 2007

    UK banks see gains

    Filed under: Companies, Northern Rock, Tullow Oil, PartyGaming, Kazakhmys, Aquarius Platinum, Alliance & Leicester, Vedanta Resources, JKX Oil & Gas, HBOS, Compass Group, Standard Life, Taylor Wimpey

    In London on Thursday the FTSE 100 added 0.83 percent to 6,486.4 and the FTSE 250 was up 1.38 percent to 11,039.5.

    Banks were higher on the 100.

    HBOS (LSE: HBOS) gained 4.93 percent to 916p, while Northern Rock (LSE: NRK) was 6.32 percent higher to 193.5p.

    Alliance & Leicester (LSE: AL) had the best day on the blue chip index as it added 8.46 percent to 795p.

    Insurer Standard Life (LSE: SLET) was also higher, gaining 5.91 percent to 291.25p.

    House builder Taylor Wimpey (LSE: TW) jumped 6.59 percent to 275p.

    Over on the 250, online gambler PartyGaming (LSE: PRTY) put in the best performance as it added 7.41 percent to 29p.

    Commodity-related sectors didn’t have as good a day.

    Among miners, Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP) had the worst day on the 250 with a decline of 7.09 percent to £17.31.

    Over on the 100, Vedanta Resources (LSE: VED) fell 2.47 percent to £20.57 and Kazakhmys (LSE: KAZ) was down 1.69 percent to £14.55.

    In the oil sector, Tullow Oil (LSE: TLW; OTC: TUWLY) was 1.93 percent lower to 585p.

    JKX Oil & Gas (LSE: JKX) dropped 3.34 percent to 333p.

    Caterer Compass Group (LSE: CPG) had the worst day on the 100, where it fell 2.97 percent to 310.75p.





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