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    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 5, 2007

    Kazakhmys leads miners in gains

    Filed under: Companies, Anglo American, Kazakhmys, Antofagasta, British Land, Land Securities, Bradford & Bingley, Alliance & Leicester, Hammerson, Barratt Developments, Severfield-Rowen, Moneysupermarket.com

    Miners led the way in London as the FTSE 100 added 0.73 percent to 6,595.8 and the FTSE 250 gained 0.18 percent to 11,390.4.

    Anglo American (LSE: AAL) was up 2.92 percent to £33.43 and Antofagasta (LSE: ANTO) was 3.25 percent higher to 826p, while Kazakhmys (LSE: KAZ) turned in the best performance on the 100 as it added 4.59 percent to £15.96.

    Meanwhile over on the 250, price comparison website Moneysupermarket.com (LSE: MONY) was the top performer of the day with a gain of 5.57 percent to 189.5p.

    Construction group Severfield-Rowen (LSE: SFR) was up 4.04 percent to £21.10.

    House builders and property developers, however, didn’t do as well over on the 100.

    Land Securities Group (LSE: LAND) was 3.21 percent lower to £16.87, while British Land (LSE: BLND) was down 3.44 percent to £11.24 after it said it will not sell its stake in Meadowhall shopping center after all.

    Barratt Developments (LSE: BDEV) dropped 4.14 percent to 765p while Hammerson (LSE: HMSO) was down 4.26 percent to £11.68.

    But Alliance & Leicester (LSE: AL) turned in the worst performance on the 100 as it fell 6.81 percent to 794p on a broker downgrade.

    Mortgage lender Bradford & Bingley (LSE: BB) did the worst on the 250, dropping 6.58 percent to 285p.





    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.





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