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    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.





    September 13, 2007

    Miners, telecoms higher in London

    Filed under: Companies, Northern Rock, Anglo American, British Land, BHP Billiton, Lonmin, Alliance & Leicester, BT Group, Cable and Wireless, Shire, JJB Sports, Petrofac, Bluebay, Ashmore, Keller Group, STHREE

    London’s equities markets were mixed Thursday.

    While the FTSE 100 added 0.91 percent to 6,363.9, the FTSE 250 was down 0.42 percent to 11,172.4.

    The biggest gainers on the session on the 100 were in the mining and telecommunications sectors.

    Among miners BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was 2.61 percent higher to £14.94 and Anglo American (LSE: AAL) gained 3.27 percent to €29.08, while Lonmin (LSE: LMI) added 3.66 percent to £34.26.

    The mining gains came on higher base metals prices.

    In the telecommunications sector, BT Group (LSE: BT.A; NYSE: BT) was up 2.9 percent to 319p, while Cable and Wireless (LSE: CW) was the best performer on the 100 with a gain of 4.5 percent to 174.3p.

    The biggest winner on the 250 was in the financial services sector, where Ashmore (LSE: ASHM) added 6.48 percent to 263p.

    Elsewhere in the sector, Bluebay (LSE: BBAY) was 2.98 percent higher to 380p.

    Also gaining on the 250 were construction engineers Keller Group (LSE: KLR), up 3.92 percent to £10.88.

    In the oil sector oil, gas and coal services group Petrofac (LSE: PFC) added 3.47 percent to 462p.

    The worst performance on the 100 came from the banking sector, where Northern Rock (LSE: NRK) dropped 4.91 percent to 639p.

    Still among banks, Alliance & Leicester (LSE: AL) was down 2.7 percent to 937.5p.

    Property developer British Land (LSE: BLND) fell 1.88 percent to £12, while in the pharmaceuticals sector Shire was 2.5 percent lower to £12.46.

    Sports retailer JJB Sports (LSE: JJB) dropped 4.37 percent to 164p, while human resources group STHREE (LSE: STHR) fell 5.34 percent to 323.5p.





    September 5, 2007

    Miners higher on losing day

    Filed under: Companies, Northern Rock, PartyGaming, Lonmin, Alliance & Leicester, Shire, Royal & Sun Alliance, Vedanta Resources, Tate & Lyle, Punch Taverns, Avis Europe, International Personal Finance, Interserve

    London’s markets saw declines Wednesday.

    The FTSE 100 dropped 1.66 percent to 6,270.7 and the FTSE 250 was down 1.83 percent to 11,300.7.

    The mining sector provided the best performer on the 100 as Vedanta Resources (LSE: VED) added 3.07 percent to £18.47.

    Of the two other gainers on the 100 during the day another miner, Lonmin (LSE: LMI) was up 0.37 percent to £32.27.

    The only other winner on the 100 was in the pharmaceuticals sector, with Shire (LSE: SHP; NAS: SHPGY) up 0.62 percent to £13.03.

    The best performance on 250 came from personal loan provider International Personal Finance (LSE: IPF), which added 5.66 percent to 224p.

    Construction and civil engineering group Interserve (LSE: IRV) was up 3.8 percent to 492p, while internet gambler PartyGaming (LSE: PRTY) was 2.73 percent higher to 28.25p.

    Banks were lower after Lehman Brothers (NYSE: LEH) made negative comments about the mortgage sector.

    Northern Rock (LSE: NRK) had the worst day on the 100 as it dropped 5.33 percent to 693p, while Alliance & Leicester (LSE: AL) fell 4.44 percent to £10.11.

    Among insurers, Royal Sun & Alliance (LSE: RSA) was down 3.85 percent to 139.9p.

    Food processor Tate & Lyle (LSE: TATE) was down 4.54 percent to 536.5p, and pubs operator Punch Taverns (LSE: PUB) was down 3.79 percent to £10.66.

    Avis Europe (LSE: AVE) was 7 percent lower on the 250 to 46.5p, while waste management firm Shanks Group (LSE: SKS) fell 6.06 percent to 232.5p.





    September 4, 2007

    Royal Dutch Shell sees gains on broker upgrade

    Filed under: Companies, Northern Rock, BG Group, Royal Dutch Shell, Tullow Oil, Kazakhmys, Shire, Persimmon, Liberty International, Home Retail, Greggs, SOCO International

    In London on Tuesday, the FTSE 100 gained 0.98 percent to 6,376.8 while the FTSE 250 was 1.34 percent higher to 11,510.8.

    Both indices were led by the oil sector. Royal Dutch Shell’s (LSE: RDSA, RDSB; NYSE RDS.A, RDS.B) A and B shares took the top two places on the 100, with B shares adding 2.9 percent to £19.85 and A shares gaining 3.02 percent to £19.79 after UBS (NYSE: UBS; SWX: UBSN; TYO: 8657) raised its recommendation on the oil group from “neutral“ to “buy“.

    BG Group also did well with its shares 2.43 percent higher to 800.5p.

    On the 250, Tullow Oil (LSE: TLW; OTC: TUWLY) was up 6.63 percent to 547p.

    Meanwhile, SOCO International (LSE: SIA) added 7.34 percent to £21.65 for the best day on the 250.

    Other gainers included miner Kazakhmys (LSE: KAZ), which was up 2.62 percent to £13.33 on the news that profits were up 22 percent in the first half of the year.

    In the retail sector, Home Retail (LSE: HOME) gained 2.63 percent to 429.5p.

    The biggest loser on the day on the 100 was in the banking sector, with Northern Rock (LSE: NRK) falling 1.21 percent to 732p.

    Bakery goods retailer Greggs (LSE: GRG) dropped 4.46 £50.50 for the worst performance on the 250.

    Property-related groups saw declines on the day.

    Home builder Persimmon (LSE: PSN) was 0.95 percent lower to £11.46, while property investor Liberty International (LSE: LII) fell 1.17 percent to £11.83.

    In the pharmaceuticals sector, Shire (LSE: SHP; NAS: SHPGY) dropped 1.15 percent to £12.95.





    August 1, 2007

    Miners see more declines in London

    Filed under: Companies, BA, Xstrata, Rio Tinto, BHP Billiton, Cadbury Schweppes, Lonmin, Shire, ICI, John Wood Group, Jardine Lloyd Thompson Group

    London’s equities markets were lower Wednesday.

    The FTSE 100 dropped 1.72 percent to 6,250.6, while the FTSE 250 fell 1.26 percent to 11,194.9.

    Cadbury Schweppes (LSE: CBRY; NYSE: CSG), with a decline of 8.23 percent to 569p, was the worst performer on the 100 after it
    said that profitability was down in the first half due to higher dairy prices.

    British Airways (LSE: BAY; NYSE: BAB) was down 2.89 percent to 386.25p after it was fined nearly £270 million for price fixing activities in relation to fuel surcharges.

    Miners were substantially lower. Lonmin (LSE: LMI) fell 3.65 percent to £33.76, while Xstrata (LSE: XTA) was 3.88 percent lower to £30.74, BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) dropped 4.41 percent to £14.08 and Rio Tinto (LSE: RIO) was down 4.46 percent to £34.45.

    There were gains on the day.

    In the pharmaceuticals sector, Shire (LSE: SHP; NAS: SHPGY) added 1.56 percent to £12.37, while chemicals group Imperial Chemical Industries (LSE: ICI) gained 0.56 percent to 627.5p on reports that Dow Chemical (NYSE: DOW; TYO: 4850) is interested in making a bid to rival that of Akzo Nobel (Euronext: AKZ; NAS: AKZOY).

    Over on the 250, construction group John Wood Group (LSE: WG.) was the best performer, adding 4.61 percent to 340.5p.

    Meanwhile, business services provider Jardine Lloyd Thompson Group (LSE: JLT) was the biggest loser of the session as it dropped 11.48 percent to 374p.





    July 11, 2007

    UK pharma sector mixed

    Filed under: Companies, BA, BG Group, AstraZeneca, Shire, Wm Morrison, Hammerson, BSkyB, Whitbread, Home Retail

    London’s markets saw declines on Wednesday, with the FTSE 100 down 0.24 percent to 6,615.1 and the FTSE 250 falling 0.56 percent to 11,666.8.

    Retailers were mixed on the session, with Wm Morrison (LSE: MRW) up 2.48 percent to 313.75p but Home Retail (LSE: HOME) falling 2.35 percent to 438.75p for the worst day on the 100.

    Conversely, the best performer on the 100 was in the leisure sector, where Whitbread (LSE: WTB) added 7.04 percent to £19.46 on rumors that it could be targeted for bids.

    Other gainers on the day included BSkyB, which added 4.17 percent to 700p.

    In the oil sector, BG Group (LSE: BG; NYSE: BG) gained 2.56 percent to 842p.

    The pharmaceuticals sector was mixed.

    AstraZeneca (LSE: AZN; NYSE: AZN) was 2.43 percent higher to £26.95 on an upgrade from “equal-weight” to “overweight” from Morgan Stanley (NYSE: MS), while Shire (LSE: SHP; NAS: SHPGY) was down 1.97 percent to £11.97 on rumors that it might be looking to make an acquisition.

    Also lower on the session was property group Hammerson (LSE: HMSO), which dropped 1.65 percent to £13.67.

    British Airways (LSE: BAY; NSYE: BAB) fell 1.7 percent to 418.5p, hurt by higher oil prices.





    January 26, 2007

    UK tobacco sector sees gains

    Filed under: Companies, Lloyds TSB, BAT, Xstrata, Cadbury Schweppes, Shire, Rank Group, Imperial Tobacco

    In London on Friday, the FTSE 100 dropped 0.7 percent to 6,228. This translated to a gain of 0.1 percent for the week. Meanwhile the FTSE 250 was down 0.5 percent on the day to 11,118.6, 0.4 percent higher over the week as a whole.

    The tobacco sector was higher. BAT added 1.2 percent to £15.17, while Imperial Tobacco ended 2.6 percent higher to £21.06 as Citigroup said that BAT will likely get more return to shareholders both this year and next.

    In the food and beverages sector, Cadbury Schweppes added 0.7 percent to 564p on new bids rumors that had private equity interested. US chocolate maker Hershey’s was also seen as a possible merger partner after its less-than-spectacular report earlier in the week.

    The leisure sector was also hit by merger talk surrounding Rank Group, which gained 1.6 percent to 226½p.

    Miners were lower on the day, with Xstrata the biggest loser among blue-chip stocks as it dropped 3.2 percent to £23.47. The pharmaceuticals sector was also down, with Shire falling 1.6 percent to £10.81 on a downgrade from Citigroup.

    Among banks, Lloyds TSB was 0.3 percent lower to 583½p even though HSBC issued an increased recommendation, from “neutral” to “overweight”, and set a target share price of 630p.





    January 25, 2007

    Publisher Pearson gains on bids rumors

    Filed under: Companies, GlaxoSmithKline, British Land, AstraZeneca, Shire, Hammerson, Pearson, Smith & Nephew

    The FTSE 100 dropped 0.6 percent to 6,269.3 in London on Thursday, while the FTSE 250 was 0.2 percent lower to 11,171.1. The 100 briefly reached a six-year high, at 6,335.1, early in the session but dropped later on the slow start in the New York markets.

    Real estate was higher on the session after JP Morgan reminded that the UK sector is currently a better bargain than its European rivals. Hammerson added 0.2 percent to £15.03, while British Land was 0.6 percent higher to £16.21.

    Publisher Pearson added 0.9 percent to 817½p on bids rumors and after Citigroup upped its target share price to 900p.

    The pharmaceuticals sector declined after Credit Suisse said that the sector would extend its underperformance into this year after a sector-wide decline of 5.2 percent last year, mentioning the trouble companies were having bringing new drugs to market and keeping them there once introduced. Shire dropped 1 percent to £10.99, while AstraZeneca fell 1.3 percent to £28.44 and GlaxoSmithKline was 1.4 percent lower to £13.93.

    In a related news, medical devices manufacturer Smith & Nephew was 1.4 percent lower to 570½p after it was suggested that its next report might not show as much of an improvement in margins as is hoped.





    November 30, 2006

    Most UK miners see gains

    Filed under: Companies, GlaxoSmithKline, Xstrata, Anglo American, Rio Tinto, BHP Billiton, AstraZeneca, Shire, Rank Group, Hanson

    London’s equities markets were mixed on Thursday as the FTSE 100 dropped 0.6 percent to 6,048.9 but the FTSE 250 added 0.1 percent to 10,673.9.

    Miners were mostly up on the session, the exception being Anglo American, which dropped 0.25 percent to £23.62. Rio Tinto added 0.8 percent to £27.15, while Xstrata and BHP Billiton gained 1.1 percent each, to £22.80 and 965p respectively. Analysts at Citigroup issued remarks saying that Billiton should divest itself of its petroleum unit and that Rio Tinto should get rid of its Industrial Minerals division in order to kick-start performance.

    The pharmaceuticals sector saw declines. GlaxoSmithKline dropped 1.4 percent to £13.51, while AstraZeneca fell 1.9 percent to £29.50 and Shire was 2.1 percent lower to £10.19. There has been talk lately that GlaxoSmithKline might be interested in AstraZeneca, but some analysts believe that AstraZeneca is more likely to be a bidder, possibly for Shire, than a target of bids.

    Building materials group Hanson added 0.5 percent to 729p on rumors that Mexico’s Cemex could be interested in bidding, especially after its bid for an Australian company was rejected earlier in the week. Meanwhile in the leisure sector, casino operator Rank was 2 percent higher to 278p on rumors that it could be a target for bidders.





    November 29, 2006

    FTSE 250 adds 1.5 percent

    Filed under: Companies, Prudential, GlaxoSmithKline, Xstrata, BHP Billiton, AstraZeneca, Shire, Legal & General, Sage

    The London equities markets were higher on Wednesday in reaction to overnight gains in New York and Tokyo, while the pharmaceuticals sector was higher and financial services gained on bids rumors. The FTSE 100 added 0.6 percent to 6,065.3, while the FTSE 250 gained 1.5 percent to 10,659.1.

    Miners were up on higher prices for several metals. BHP Billiton added 1.8 percent to 954p, while Xstrata was 2.1 percent higher to £22.49.

    In the pharmaceuticals sector, AstraZeneca was up 2.5 percent to £30.03. Shire added 2.7 percent to £10.34 on an upgrade from “neutral” to “overweight” from HSBC, while GlaxoSmithKline gained 3 percent to £13.71. Gains in the sector were helped by news that Swiss pharma group Novartis is thinking of selling its baby food unit, Gerber Products, to Nestle.

    Among financial services groups, Prudential was 2.1 percent higher to 660p on rumors that HSBC could be interested, while Legal & General added 3 percent to 154p on talk that Dutch insurer Aegon was thinking of bidding.

    In the software sector, Sage added 6.2 percent to 256p on its report that its pre-tax profits were up 14 percent in the quarter. Meanwhile plumber Wolseley gained 3.8 percent to £11.78 even though its fiscal first quarter profits were up only slightly.





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