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    September 14, 2007

    Northern Rock in 31.46 percent decline

    Filed under: Companies, Paragon, Northern Rock, Burren Energy, Reckitt Benckiser, Bradford & Bingley, Alliance & Leicester, Dana Petroleum, JKX Oil & Gas, Bellway, Persimmon, Kingfisher, Barratt Developments, Reed Elsevier, Hochschild

    London’s equities markets saw declines on Friday.

    The FTSE 100 1.17 percent lower to 6,289.3 and the FTSE 250 falling 1.95 percent to 10,954.

    Northern Rock (LSE: NRK) had the worst performance by far on the 100, falling 31.46 percent to 438p after it had to ask the Bank of England for help after it could not find a place to borrow money from traditional sources and customers lined up outside branches of the bank to withdraw their money from accounts.

    The trouble extended to other banks, with Alliance & Leicester (LSE: AL) dropping 6.88 percent to 873p.

    Mortgage lenders were also hurt.

    Paragon (LSE: PAG) was down 16.76 percent to 298p for the worst day on the 250.

    It was followed by fellow mortgage lender Bradford & Bingley (LSE: BB), which was 7.7 percent lower to 329.75.

    Homebuilders were also lower on the day.

    Barratt Developments (LSE: BDEV) dropped 4.71 percent to 829p and Persimmon (LSE: PSN) was down 6.62 percent to £10.16 on the 250, while Bellway (LSE: BWY) fell 7.54 percent to £10.67 on the 100.

    Oil-related shares saw gains on the 250.

    Burren Energy (LSE: BUR) was up 1.79 percent to 853p, while Dana Petroleum (LSE: DNX) added 1.94 percent to £10 and JKX Oil & Gas (LSE: JKX) was 2.25 percent higher to 397.75p.

    Gold miner Hochschild (LSE: HOC) had the best day on the 250 as it gained 3.83 percent to 345.25p.

    Chemicals group Reckitt Benckiser (LSE: RB) was the best performer on the 100, adding 1.49 percent to £27.99.

    Publisher Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) was 1.08 percent higher to 608p, and DIY retailer Kingfisher (LSE: KFG) closed at 196.6p, a gain of 0.2 percent.





    September 12, 2007

    BAE Systems adds over 3 percent on session

    Filed under: Companies, BAT, Tullow Oil, Reckitt Benckiser, BAE Systems, Legal & General, Johnson Matthey, SAB Miller, Carphone Warehouse, Rentokil Initial, Standard Life, Home Retail, Taylor Wimpey, International Personal Finance, AMEC

    London’s markets were higher Wednesday, with the FTSE adding 0.41 percent to 6,306.2 and the FTSE 250 gaining 0.07 percent to 11,219.7.

    Aerospace and defense group BAE Systems (LSE: BA) had the best day on the 100, adding 3.18 percent to 478.25p, while engineering and construction firm AMEC (LSE: AMEC) was the best performer on the 250 with a gain of 4.5 percent to 731.5p.

    The chemicals sector was higher.

    Johnson Matthey (LSE: JMAT) was up 2.3 percent to £16.03, while Reckitt Benckiser (LSE: RB) added 2.74 percent to £27.39.

    British American Tobacco (LSE: BATS; AMEX: BTI; KLSE: BAT) gained 2.57 to £16.79, which consumer goods retailer Home Retail (LSE: HOME) was up 2.5 percent to 410.75p.

    Carphone Warehouse (LSE: CPW) added 3.38 percent to 352p on the news that it will jump from the 250 to the 100 beginning on September 24.

    Tullow Oil (LSE: TLW) and Taylor Wimpey (LSE: TW) will also reportedly be promoted to the 100. Insurers saw declines on the day.

    Standard Life (LSE: SLET) fell 1.2 percent to 288.75p, while Legal & General (LSE: LGEN) was the worst performer on the 100 with a drop of 2.27 percent to 133.4p.

    Pest control group Rentokil Initial (LSE: RTO; OTC: RTOKY) was 1.29 percent lower to 168.7p, while media group ITV fell 1.51 percent to 111p after it said it would sell assets and cut jobs to increase core output.

    Brewer SAB Miller (LSE: SAB) was down 1.7 percent to £13.28.

    The biggest loser on the 250 was International Personal Finance (LSE: IPF), with a decline of 4.78 percent to 224.25.





    August 13, 2007

    Miners, FTSE 250 components see big gains

    Filed under: Companies, Anglo American, Kazakhmys, Antofagasta, Reckitt Benckiser, Johnson Matthey, Kingfisher, ICI, Keller Group, Rathbone Brothers, Avis Europe, Aveva Group, Micro Focus International, ITE Group

    London’s markets rallied Monday as the FTSE 100 added 2.99 percent to 6,219 and the FTSE 250 gained 2.71 percent to 11,184.8.

    The top three gainers on the 100 were all miners, adding value after copper prices were higher.

    Anglo American (LSE: AAL) was up 8.31 percent to £28.16, while Kazakhmys (LSE: KAZ) gained 10.44 percent to £11.95 and Antofagasta (LSE: ANTO) added 10.48 percent to 685p for the best day on the 100.

    Gains on the 250 were even bigger.

    In the electronics sector Aveva Group (LSE: AVV) and Micro Focus International (LSE: MCRO) were 12.69 percent higher to 901p and up 16.8 percent to 288.5p respectively, with Micro Focus having the best day on the 250.

    Construction engineering group Keller (LSE: KLR) was up 16.77 percent to 940p, while investment managers Rathbone Brothers (LSE: RAT) added 12.79 percent to £13.05 and conference and convention organizer ITE Group (LSE: ITE) was 12.77 percent higher to 170p.

    The biggest loser on the 250 on the session was car rental group Avis Europe (LSE: AVE), which dropped 11.76 percent to 45p.

    Kingfisher, meanwhile, had the worst day on the 100 as it fell 1.63 percent to 211.5p.

    Chemicals groups had a mixed day on the 100, with Reckitt Benckiser (LSE: RB) down 0.51 percent to £27.41 while Johnson Matthey (LSE: JMAT) dropped 0.82 percent to £16.90.

    On the other hand, Imperial Chemical Industries (LSE: ICI; NYSE: ICI) added 2.8 percent to 642p after it said it has accepted a bid from Dutch chemicals company Azko Nobel (Euronext: AKZ; NAS: AKZOY).

    In addition, German consumer goods manufacturer Henkel (FWB: HEN3) said it will purchase the adhesives and electronic materials divisions of ICI’s US unit if the Akzo deal is completed.





    July 31, 2007

    EasyJet adds nearly 13 percent

    Filed under: Companies, Anglo American, Reckitt Benckiser, Friends Provident, Vedanta Resources, Liberty International, Compass Group, Standard Life, Rotork, Taylor Wimpey, Greggs

    There were substantial gains in London on Tuesday, where the FTSE 100 added 2.48 percent to 6,360.1 and the FTSE 250 was 2.26 percent higher to 11,321.9.

    Insurer Standard Life (LSE: SLET) had the best day on the 100 as it added 6.38 percent to 308.5p, while Friends Provident (LSE: FP) was right behind with a gain of 5.97 percent to 187p.

    Miners were also higher on the 100, with Vedanta Resources (LSE: VED) up 4.17 percent to £17.89 as Anglo American (LSE: AAL) added 5.18 percent to £29.04 as metals prices were on the rise.

    Caterer Compass Group (LSE: CPG) was 5.28 percent higher to 334p.

    Meanwhile, easyJet (LSE: EZJ) had the best day on the 250, adding 12.91 percent to 511.5p as Goldman Sachs (NYSE: GS) added the discount airline to its “conviction buy” list.

    Other big gainers on the 250 included oil equipment manufacturer Rotork (LSE: ROR), which was 12.87 percent higher to £10.35.

    Home builder Taylor Wimpey (LSE: TW) was up 9.83 percent to 330.25 on first half profits that were better than had been anticipated.

    The biggest loss on the 250 came for retail bakery chain Greggs (LSE: GRG), which dropped 3.41 percent to £49.10.

    The worst performer on the 100 was chemicals group Reckitt Benckiser (LSE: RB), down 0.41 percent to €26.52.

    The only other decliner on the 100 was property investor Liberty International (LSE: LII), which dropped 0.29 percent to £10.38.





    July 27, 2007

    Miners decline in London

    Filed under: Companies, Northern Rock, Anglo American, Antofagasta, Reckitt Benckiser, Rolls Royce, Aquarius Platinum, Johnston Press, Emap, National Grid, Vedanta Resources, Compass Group, Rightmove, GAME Group

    London’s markets were lower on the dayFriday, but not nearly as steeply as they were on Thursday.

    The FTSE 100 fell 0.58 percent to 6,215.2, while the FTSE 250 was down 0.44 percent to 10.984.5.

    Miners posted the worst performances on both the 100 and the 250 as Anglo American (LSE: AAL) dropped 3.86 percent to £27.43 on the 100 and Aquarius Platinum (LSE: AQP; ASX: AQP) fell 7.37 percent to £13.58.

    Also in the sector, Antofagasta (LSE: ANTO) was down 3.43 percent to 675p, while Vedanta Resources (LSE: VED) was 3.68 percent lower to £16.22.

    Online property search group Rightmove (LSE: RMV) also saw declines, dropping 6.09 percent to 547.5p, while human resources group STHREE (LSE: STHR) was 5.75 percent lower to 410.5p.

    Caterer Compass Group (LSE: CPG) fell 2.81 percent to 311p.

    Chemicals group Reckitt Benckiser (LSE: RB) had the best day on the 100 as it gained 3.19 percent to £26.84.

    Publisher Emap (LSE: EMA) was the best performer on the 250, where it added 12.7 percent to 860.5p.

    Another publishers, Johnston Press (LSE: JPR) was 4.69 percent higher to 385p.

    Retailers also had gains on the 250.

    GAME Group (LSE: EBQ) added 4.77 percent to 186.75p, while home shopping retailer Findel (LSE: FADV) gained 4.83 percent to 683.5p.

    In the banking sector, Northern Rock (LSE: NRK) was up 3.12 percent to 793.5p.

    Electric power transmitter National Grid (LSE: NG) and airplane engine maker Rolls-Royce (LSE: RR) each added 2.47 percent, to 704p and 508.5p respectively.





    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.





    December 15, 2006

    Cairn Energy drops 1.6 percent

    Filed under: Companies, Prudential, Cairn Energy, Reckitt Benckiser, British Land, BAE Systems, BT Group

    The FTSE 100 closed at its highest level in nearly six years on Friday, ending at 6,260, a gain of 0.5 percent on the day and 1.7 percent higher than it began the week. The FTSE 250 added 0.3 percent on the day to close at a record high of 11,086, a gain of 1.1 percent on the week.

    Defense aerospace company BAE Systems saw a gain of 6.9 percent to 424½p after the Serious Fraud Office ended an investigation into Al Yamamah arms deals with Saudi Arabia. The probe, which lasted for two years, was responsible for a delay in the signing of a Saudi order for Eurofighters.

    Prudential was 2.1 percent higher to 710½p after rumors that it will free up nearly £10 billion in its orphan estate that is no longer needed to meet obligations and return some of that money to shareholders.

    In the telecommunications sector BT Group added 3.3 percent to 315p, its highest share price since September 2001.

    British Land gained 2 percent, to £16.62 on talk that an overseas billionaire is looking to buy.

    Reckitt Benckiser was 1.6 percent higher to £24.11 after UBS upgraded the household goods group to “buy”, citing growth potential in 2007.

    Among losers on the day, Cairn Energy dropped 1.6 percent to £19.14 on rumors that the IPO of Cairn India was not as successful as had been hoped and that shares would be priced at the low end of the stated range.





    February 8, 2006

    London markets lower on mixed trading day

    Filed under: GlaxoSmithKline, Anglo American, Kazakhmys, Rio Tinto, Antofagasta, EasyJet, BAA, Reckitt Benckiser

    The London equities markets were down on Wednesday. The FTSE 100 dropped 0.5 percent to 5,725.1, while the FTSE 250 fell 0.1 percent to 9,240.7 on a trading volume of 3.6 billion shares.

    Mining stocks were down on the day as metals prices continued to decline. Kazakhmys fell 3.8 percent to 819 ½p. Rio Tinto dropped 2.6 percent to £27.81. Antofagasta declined 3.2 percent to £20.13. Anglo-American was down not only on falling metals prices but also on a ratings cut from Citigroup, slipping from “buy” to “hold. Anglo-American fell 3.6 percent to £20.12.

    Also down on the day was budget airline EasyJet, which fell 0.2 percent to 376 ½p even though the airline’s chief executive bought 134,000 shares at 374.17p each during the day.

    Elsewhere, things seemed to be a bit better. Airport operator BAA gained 14.9 percent to 172 ½p when it was announced that Groupo Ferrovial of Spain was thinking about offering for the company. BAA said that it had not yet received an official bid.

    GlaxoSmithKline gained 0.9 percent to £14.75 in anticipation of the pharmaceutical company’s fourth-quarter and full-year earnings reports, which are due soon.

    Household goods group Reckitt Benckiser was up on Tuesday’s release of a full-year earnings report that had overall earnings in line with predictions and margins, earnings, and cash flow metrics had all exceeded expectations. The company’s shares rose 2.2 percent on the day to £19.78.





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