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    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 30, 2007

    Mixed day for property developers

    Filed under: Companies, BG Group, Enterprise Inns, DSG international, SAB Miller, Kingfisher, Barratt Developments, Liberty International, Hunting

    The London markets were higher Thursday.

    The FTSE 100 added 1.3 percent to 6,212 and the FTSE 250 was 1.91 percent higher to 11,099.5.

    Property developers and investors were mixed on the session. While Liberty International (LSE: LII) was 3.78 percent higher to £11.80, Barratt Developments (LSE: BDEV) was 0.22 percent lower to 903p.

    Retailers saw declines.

    Kingfisher (LSE: KFG) fell 0.24 percent to 207p and DSG International (LSE: DSGI) was the worst performer on the 100 with a decline of 1.59 percent to 154.8p.

    In the oil sector, BG Group (LSE: BG; NYSE: BG) had the best day on the 100, gaining 4.27 percent to 782p as oil prices rose.

    Still, oil refiner Hunting (LSE: HTG) was the worst perfomer on the 250, dropping 7.28 percent to 700p.

    Other gainers on the day included pubs operator Enterprise Inns (LSE: ETI), which added 3.17 percent to 634.5p.

    Brewer SAB Miller (LSE: SAB) was 3.51 percent to £13.26.





    August 29, 2007

    FTSE 250 adds nearly 1 percent

    Filed under: Companies, PartyGaming, Aviva, Severn Trent, Kelda, Persimmon, Barratt Developments, Whitbread, Rexam, Standard Life, Bluebay

    In London on Wednesday, the FTSE 100 was up 0.49 percent to 6,132.2 and the FTSE 250 added 0.91 percent to 10,891.9.

    Hotels and restaurants operator Whitbread (LSE: WTB) had the best day on the 100 as it added 3.47 percent to £16.12.

    The gains came on news that revenues were up 6.6 percent in the six months ending 16 August and were 8 percent higher in its fiscal second quarter.

    Water utilities were right behind. Severn Trent (LSE: SVT) was 2.84 percent higher to £13.42, while Kelda Group (LSE: KEL) added 3.15 percent to 852p.

    Insurers were mixed, however, with Standard Life (LSE: SLET) up 2.11 percent to 290p but Aviva (LSE: AV) down 0.99 percent to 698p.

    Property developers and house builders were down on the session. Barratt Developments (LSE: BDEV) fell 0.66 percent to 905p, while Persimmon dropped 0.77 percent to £11.55.

    Beverage can manufacturer Rexam (LSE: REX), down 1.35 percent to 511p had the worst day on the 100.

    The worst performer on the 250 was in the financial services sector, where Bluebay (LSE: BBAY) was 4.76 percent lower to 395p.

    PartyGaming (LSE: PRTY) had the best day on the 250, where it gained 23.08 percent to 28p after a more than 7 percent decline Tuesday.





    August 28, 2007

    Banks lower on exposure to US subprime sector

    Filed under: Companies, BA, Enterprise Inns, PartyGaming, Lonmin, Aquarius Platinum, Alliance & Leicester, Barclay's, HSBC, Drax Group, Punch Taverns, Henderson Group, John Wood Group, Keller Group

    London’s markets were lower on the session Tuesday.

    The FTSE 100 fell 1.9 percent to 6,102.2 while the FTSE 250 dropped 1.6 percent to 10,793.8.

    Banks were down there as well, on reports of substantial exposure to the troubled US subprime market.

    Even though the banks issued denials, Alliance & Leicester (LSE: AL) fell 3.91 percent to £10.08, while Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) dropped 3.6 percent to 589p and HSBC Holdings (LSE: HSBA; NYSE: HBC; Euronext: HSBC; SEHK: 005) was 1.9 percent lower to 881p.

    The biggest decliner on the 100, however, was miner Lonmin (LSE: LMI) at a drop of 6.02 percent to £29.81.

    Over on the 250, Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP) fell 5.26 percent to £13.87.

    Online gambler PartyGaming (LSE: PRTY) was the worst performer on the 250; it was 7.14 percent lower to 22.75p.

    The biggest gainer on the 100 was electricity generator Drax Group (LSE: DRX), which added 1.65 percent to 645p.

    Pubs operators were higher.

    Punch Taverns (LSE: PUB) gained 0.1 percent to £10.49, while Enterprise Inns (LSE: ETI) advanced 0.9 percent to 613.5p.

    British Airways (LSE: BAY; NYSE: BAB) was up 0.86 percent to 412.75p.

    Builder John Wood Group had the best day on the 250, adding 4.68 percent to 352.5p.

    Asset managers Henderson Group (LSE: HGI; ASX: HGI) was 4.07 percent higher to 140.75p after Citigroup (NYSE: C) raised its recommendation from “hold“ to “buy“.

    Construction engineers Keller Group (LSE: KLR) gained 2.8 percent to £10.29.





    August 24, 2007

    Sage Group tops FTSE 100

    Filed under: Companies, BG Group, Standard Chartered, Rio Tinto, British Energy, J Sainsbury, Barclay's, Northern Foods, Man Group, Sage, Henderson Group, Daejan Holdings, 3i, Rathbone Brothers, Assura Group

    London’s markets were higher Friday.

    The FTSE 100 added 0.37 percent to 6,220.1, while the FTSE 250 gained 0.22 percent to 10,969.5.

    Software maker Sage Group (LSE: SGE) was the best performer on the 100 with a gain of 3.21 percent to 233.25p.

    But financial services groups crowded the top of the loser board on the 100.

    Man Group (LSE: EMG) was 2.55 percent lower to 477.5p. Barclay’s Bank (LSE: BARC; NYSE: BCS; TYO: 8642) dropped 2.63 percent to 611p, while Standard Chartered (LSE: STAN; SEHK: 2888) was the worst performer on the 100 as it fell 4.9 percent to £14.94.

    3i Group (LSE: III) was 4.26 percent lower to £10.34. Rounding out the top five decliners on the 100 was British Energy Group (LSE: BGY) with a decline of 2.67 percent to 446.75p.

    Miners and the oil sector saw gains.

    Rio Tinto (LSE: RIO) was up 2.36 percent to £33.39, while BG Group (LSE: BG; NYSE: BG) added 2.74 percent to 769.5p.

    Retailer Sainsbury gained 2.16 percent to 544.5p.

    The best performer on the 250 was Assura Group (LSE: AGR), with a gain of 13.85 percent to 160.25p.

    Property developer Daejan Holdings (LSE: DJAN) was 5.08 percent higher to £36.00.

    Financial services groups didn’t fare much better on the 250 than they did on the 100.

    Asset manager Henderson Group (LSE: HGI; ASX: HGI) was 2.52 percent lower to 135.25p, while investment managers Rathbone Brothers (LSE: RAT) dropped 2.55 percent to £12.23.

    But the worst performer on the 250 was food processor Northern Foods (LSE: NFDS) with a drop of 2.86 percent to 102p.





    August 23, 2007

    Property developers lose ground

    Filed under: Companies, Lloyds TSB, Northern Rock, Schroders, British Land, Alliance & Leicester, Hammerson, SAB Miller, HBOS, Persimmon, SEGRO, WSP Group

    London’s markets were higher Thursday, although the FTSE 100 only managed a gain of 0.01 percent to 6,196.9.

    The FTSE 250, meanwhile, added 0.32 percent to 10,945.7.

    Property developers and house builders had a bad day on the 100.

    House builder Persimmon dropped 2.30 percent to £12.23 after ABN Amro (Euronext: AAB; NYSE: ABN) reduced its target share price from £17.20 to £15.30.

    Among developers, British Land (LSE: BLND) fell 2.18 percent to £12.58 while SEGRO (LSE: SGRO) was 2.4 percent lower to 529p.

    Hammerson (LSE: HMSO) was the worst performer on the 100, dropping 2.45 percent to £12.75.

    However, in a related sector WSP Group (LSE: WSH), which specializes in construction management, engineering, and consulting, added 3.13 percent to 676.5p.

    Brewer SABMiller (LSE: SAB) was 2.78 percent higher to £12.94.

    Investment manager Schroders (LSE: SDR.L) had the best day on the 100 with a gain of 4.22 percent to £13.34, while its non-voting shares (LSE: SDRt.L) added 3.32 percent to £11.53.

    Among banks, Northern Rock (LSE: NRK) was up 3.98 percent to 757p.

    Other banks seeing gains included Alliance & Leicester (LSE: AL), which added 0.19 percent to £10.61. Lloyds TSB (LSE: LLOY) gained 0.27 percent to 553.5p, while HBOS (LSE: HBOS) was 2.05 percent higher to 898p.





    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 21, 2007

    Property developers mixed in London

    Filed under: Companies, BA, British Land, BHP Billiton, International Power, BT Group, JKX Oil & Gas, Barratt Developments, Drax Group, Intercontinental Hotels Group, Punch Taverns, Michael Page International, Avis Europe

    London markets were mixed Tuesday, with the FTSE 100 up 0.12 percent to 6.086.1 but the FTSE 250 down 0.6 percent to 10,639.3.

    The mixed nature of the indices translated to mixed days within individual sectors.

    For example, while property developer Barratt Developments (LSE: BDEV) was the worst performer of the day on the 100 with a drop of 3.25 percent to 909p, British Land (BLND) added 1.42 percent to £12.15.

    Likewise among electricity generators.

    While International Power (LSE: IPR; NYSE: IPR) added 1.55 percent to 409p, Drax Group (LSE: DRX) fell 2.29 percent to 620p.

    Miner BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) had the best day on the 100, adding 2.04 percent to £13.01 after it said it had moved two drilling rigs from deep water in the Gulf of Mexico ahead of Hurricane Dean.

    Meanwhile on the 250, JKX Oil & Gas was the best performer with a gain of 7.39 percent to 370.5p.

    Other gainers on the day included British Airways (LSE: BAY; NYSE: BAB) at 1.52 percent higher to 401.5p.

    In the telecommunications sector, BT Group (LSE: BT.A; NYSE: BT) gained 1.46 percent to 312p.

    Avis Europe (LSE: AVE) was up 4.42 percent to £47.25.

    Among decliners, pubs operator Punch Taverns (LSE: PUB) was 2.35 percent lower to 976.5p, while Intercontinental Hotels (LSE: IHG; NYSE: IHG) fell 2.33 percent to £10.06.

    Human resources specialist Michael Page International (LSE: MPI) dropped 4.22 percent to 419.5p.





    August 20, 2007

    Power generators see gains in London

    Filed under: Companies, Prudential, Kazakhmys, Rio Tinto, British Land, BHP Billiton, Scottish & Southern Energy, British Energy, BAE Systems, Old Mutual, Drax Group, Reed Elsevier, SEGRO, Daejan Holdings, Meggitt, Southern Cross Healthcare

    In London on Monday the FTSE 100 added 0.24 percent to 6,078.7 while the FTSE 250 was 0.16 percent higher to 10,703.8.

    Power generators had a good day in London.

    Drax Group (LSE: DRX) gained 1.9 percent to 634.5p, while electricity generator British Energy (LSE: BGY) was up 4.58 percent to 451.25p for the best performance on the 100.

    Electricity transmitter Scottish & Southern Energy (LSE: SSE) was 1.7 percent higher to £14.44.

    Miners also did well after metals prices advanced.

    Rio Tinto (LSE: RIO) gained 3.22 percent to £30.78, while Kazakhmys (LSE: KAZ) added 4 percent to £11.70 and BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was 4.17 percent higher to £12.75.

    The aerospace sector was up with BAE Systems (LSE: BA; OTCBB; BAESY) 3.48 percent higher to 431p and Meggitt (LSE: MGGT) adding 4.73 percent to 298.75p.

    The best performer on the 250 was care homes operator Southern Cross Healthcare (LSE: SCHE), which gained 6.93 percent to 470.5p.

    Insurers were mixed.

    Prudential (LSE: PRU; NYSE: PUK) was up 1.1 percent to 657.5p, but Old Mutual (LSE: OML; JSE: OLOML) dropped 2.16 percent to 149.4p.

    Property developers and investors were lower on the session.

    British Land (LSE: BLND) had the worst day on the 100 as it fell 3.46 percent to £11.98. SEGRO (LSE: SGRO) fell 2.66 percent to 513p, while Daejan Holdings dropped 4.86 percent on the 250 to £33.30.

    Publisher Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) dropped 2.61 to 578p.





    August 17, 2007

    Standard Chartered gains 8 percent

    Filed under: Companies, Northern Rock, GlaxoSmithKline, Standard Chartered, Rio Tinto, BHP Billiton, Lonmin, AstraZeneca, Tesco, ICI, Standard Life, Petrofac, Henderson Group, ICAP

    London’s markets were also higher on the session.

    The FTSE 100 added 3.5 percent to 6,064.2, while the FTSE 250 was 2.14 percent higher to 10,686.2.

    As on the continent, banks saw gains.

    Standard Chartered (LSE: STAN; SEHK: 2888) was the best performer on the 100 as it added 8.03 percent to £15.60, while Northern Rock (LSE: NRK) was right behind with a gain of 7.66 percent to 709.5p.

    Insurers were also higher, with Standard Life (LSE: SLET) up 7.01 percent to 305.5p.

    Broker ICAP (LSE: IAP) was 6.48 percent higher to 484.5p.

    Miners also saw gains.

    Rio Tinto (LSE: RIO) gained 1.8 percent to £29.82, while BHP Billiton (LSE: BLT; NSYE; BHP; ASX: BHP) added 3.5 percent to £12.24 and Lonmin (LSE: LMI) was 6.52 percent higher to £29.74.

    In the pharmaceuticals sector, AstraZeneca (LSE: AZN; NYSE: AZN) was up 2.55 percent to £23.36 while GlaxoSmithKline (LSE: GSK; NYSE: GSK) gained 3.33 percent to £12.71.

    Oil and gas services group Petrofac (LSE: PFC) had the best day on the 250, where it added 7.72 percent to 418.5p, while the biggest loser there was asset manager Henderson Group (LSE: HGI; ASX: HGI) at a drop of 2.9 percent to 125.5p.

    There were only two losers on the 100 on the session. Imperial Chemical Industries (LSE: ICI) dropped 0.16 percent to 616p, while retailer Tesco (LSE: TSCO) was down 0.12 percent to 403.5p.





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