LONDON STOCK EXCHANGE DAILY MARKET SUMMARY
AND ANALYSIS (Late Edition) ARCHIVES

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Market Summary and Analysis for Monday January 15th. 2001

FTSE 100: 6170.3   +4.8

FTSE 250: 6608.1   +6.7

FTSE 350: 3025.2   +2.5

FTSE A/S: 2967.83   +2.67

TechMARK 100: 2596.16   +13.02

SUMMARY

The London Stock Exchange (LSE) closed higher again with Oil and Drug stocks leading the rally this time. Gainers included: Affinity Internet, AIT Group, Arch International, AstraZeneca, Atlantic Telecom, Axis-Shields Plc, Axon Group, Baltimore Technology, BATM Advanced Comms., Beazer Group,  BP Amoco, Bryant Group, Cambridge Antibody, Cedar Group, CMG Plc, Cobham Plc, Diagonal Plc, Eidos, Fairey Group, Fibernet Group, Filtronic Plc, GKN Plc, Granada Compass, Intec Telecom, IQE, JJ Sports, Kingfisher, Kingston Telecommunications, Logica Plc, London Bridge Software, Marconi Plc, Microgen, Morse, Ncipher, Orchestream Holdings, Oxford GlycoSciences, Psion Plc, QXL Richardo, Ronson Plc, Shell Transport and Trading Co., Shire Pharmaceutical Group, Staffware Plc, Telecity, Telewest Communications, Tesco Plc, Whatman Plc, and XAAR Plc.

REASONS FOR ACTIVITIES

• Beazer Group and Bryant Group gained despite Bryant shareholders' intention to meet January 26th. to consider the offer made by Taylor Woodrow. Taylor Woodrow closed lower.

• Oil stocks rallied as we approach the Wednesday OPEC meeting that is expected to cut oil production.

• GKN Plc. gained 5.39% after announcing that it is in early talks with Australia's Bramble Industries Ltd. in hopes of combining their industrial services units.

• Cambridge Antibody gained 3.10% after announcing that it has received a US Patent for its use of bacteria infected viruses for displaying individual antibodies.

• Hotel chains holding giant Granada Compass gained over 4% after a report in weekend newspapers claim that Millenium Copthorne and Bass intend to offer £3.5 billion for its Forte Hotels unit.

• Tesco gained after reporting that its sales during the Christmas season rose significantly.

• JJ Sports reported that its year 2000 Christmas sales were 4.2% higher than the previous year's. JJ Sports rose 3.45%.

• Baltimore Technologies gained after announcing that it has released an e-security package for Microsoft's Window 2000.

• Giant retailer Kingfisher gained despite reports in the weekend press that is planning to sell its Woolworths and Superdrug chains.

PICKS FOR NEXT MARKET DAY

• The market don't seem to have nothing to slow them down lately. We expect the inflation report due tomorrow and some earnings reports to be the determining factors.

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Market Summary and Analysis for Friday January 12th. 2001

FTSE 100: 6165.5   +50.6

FTSE 250: 6601.4   +37.2

FTSE 350: 3022.7   +23.8

FTSE A/S: 2965.16   +23.08

TechMARK 100: 2583.14   +112.96

SUMMARY

The London Stock Exchange (LSE) closed higher as telecommunications and technology stocks rallied after the US markets closed higher Thursday. Gainers included: AEA Technology, AIM Group, Alphameric Plc, ARM Holdings, Autonomy Plc, Axis-Shields Plc, Azlan Group, Baltimore Technology, Beazer, Bookham Technology, British Airways, British Telecom, Bryant Group, BTG Group, Cable & Wireless Plc, Cadbury Schweppes, Colt Telecom, Computacenter, Dimension Data, Domino Printing, Durlacher Corp, Eidos, Eircom, Fairey Group, F.I. Group, Fibernet Group, Filtronic Plc, Freeserve, Galen Technology, GEO Interactive, Imagination Technology, Indigovision Group, Infobank International, J. Sainsbury, Kingston Telecommunications, KS Biomedix, Logica Plc, London Bridge Software, Marconi Plc, Morse, Ncipher, Nycomed Amersham Plc, Pace Micro Technology, Parthus Technology, Psion Plc, QSP Group, QXL Richardo, Sage Group, Scipher, Scoot.Com, Sema, Smith & Nephew, Sotheby's, Spirent, Taylor Woodrow, Telecity, Telewest Communications, Torotrak, TrafficMaster, TTP Communications, Unilever, United Industries Plc, Vodafone Group, Whatman Plc, William Morris, XAAR Plc, and Zen Research.

REASONS FOR ACTIVITIES

• Cable & Wireless gained 1.25% after announcing that it will start work next year on the Internet protocol Transatlantic cable system code-named Apollo with France's Altacel.

• Software, Technology and Telecommunications shares were the big winners today.

• Marconi gained 5.03% after announcing that it has signed a manufacturing deal worth US$4billion with US Contract Equipment Manufacturer (CEM) Jabil Circuits. Jabil Circuits will also pay US$390 million for 5 of Marconi's manufacturing plants.

• Home Builder Bryant Group rejected the takeover bid from Taylor Woodrow. Bryant however, believes their is value and synergy in merging with rival Beazer. The 3 shares all rose.

• Retailer J Sainsbury gained 2.01% after announcing that its like-to-like store sales rose 0.7%. Fellow retailers Laura Ashley and House of Fraser closed lower, despite posting stronger numbers.

• British Airways gained 2.70% after Dresner Kleinwort Wasserstein named it the best buy in its sector.

• Cable operator NTL gained 7.45% after announcing that its fiscal Q4 was its best quarter  for customer growth. NTL reported that it added 184,000 customers for its Cable TV, Telephone and Internet customer base to a new total of 5.2 million customers.

PICKS FOR NEXT MARKET DAY

• The market don't seem to have nothing to slow them down lately. The Friday rally was mostly due to the fact that the LSE closed higher when US markets were going strong in the early hours of the day. However, since the US markets ended up closing lower, the LSE might be forced lower in the next market day.

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Market Summary and Analysis for Thursday January 11th. 2001

FTSE 100: 6114.9   +55.0

FTSE 250: 6564.2   -33.7

FTSE 350: 2998.9   +21.3

FTSE A/S: 2942.08   +20.36

TechMARK 100: 2470.18   +21.55

SUMMARY

The London Stock Exchange (LSE) closed mixed as technology and telecommunications stocks rally. Gainers included: Alphameric Plc, Atlantic Telecom, Autonomy Plc, Axis-Shields Plc, Baltimore Technology, Biocompatibles, Bookham Technology, BP Amoco, British Telecom, Bryant Group, BTG Group, Computacenter, Dewhirst Group, Eidos, Eircom, F.I. Group, Fibernet Group, Freeserve, Intec Telecom, Kewill Systems, Kingston Telecommunications, Logica Plc, Medisys, Middlesex Holdings, Microgen, Misys Plc, Morse, Ncipher, Pace Micro Technology, QXL Richardo, Redstone Telecom, RM, RoyalBlue Group, Sage Group, Scoot.Com, Scottish Investment Trust, Sema, Shell Transport & Trading Co, Shire Pharmaceutical Group, Telewest Communications, Torotrak, TrafficMaster, Turbo Genset, Vodafone Group, XAAR Plc, and Zen Research.

REASONS FOR ACTIVITIES

• The Bank of England today decided to leave interest rates unchanged at 6%.

• The Pound Sterling rose against the US Dollar due to the Bank of England's decision to leave interest rates unchanged.

• Oil stocks gained as OPEC meeting next week is expected to yield oil production cuts to boost prices.

• Medical equipment maker Medisys gained 10.83% after announcing that Medical supplies distributor McKesson HBOC will distribte its Futura syringes in the USA.

• Vodafone Group gained 4.51% as Schwab investors jumped on the stock on the understanding it is a bargain.

• Software Developer London Bridge Software lost 8.46% on announcement that its year 2000 revenues will be 10% below estimates.

• Retail stocks like Marks & Spencers, Matalan, Next, and Great Universal Stores lost after reporting that Christmas holiday sales were below expectations.

• Bryant Group gained 13.7% after Taylor Woodrow announced that it intends to offer a premium price for Bryant than its proposed merger with Beazer Group.

• Software developer Autonomy Corp. gained 16.29% on news that Finnish telecom operator Sonera will use Autonomy's Internet technology.

• BP Amoco gained 3.61% after announcing plans to sell its plastic business operations.

PICKS FOR NEXT MARKET DAY

• The market will likely close lower as investors take profits due to the earning warnings from US technology stocks.

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Market Summary and Analysis for Wednesday January 10th. 2001

FTSE 100: 6060.6   -27.5

FTSE 250: 6597.9   +5.1

FTSE 350: 2977.9   -11.4

FTSE A/S: 2922.02   -10.63

TechMARK 100: 2451.30   +17.96

SUMMARY

The London Stock Exchange (LSE) closed mixed as technology stocks rally. Gainers included: Alphameric Plc, Arch International, Autonomy Plc, Axis-Shields Plc, Bioglan Pharmaceuticals, Bookham Technology, Bright Station, British Airways, British Telecom, Character Group, CMG Plc, Colt Telecom, Computacenter, Diagonal Plc, Dixons Group, Eidos, Energis, F.I. Group, Fibernet Group, First Technology, Freeserve, Guardian IT, IDS Group, Infobank International, Innovation Group, Interx, Invensys, Kewill Systems, Kingston Telecommunications, KS Biomedix Holding, Logica Plc, Medisys, Microgen, Northgate Info, NSB Retail Systems, Orchestream Holdings, Oxford Glycosciences, Pace Micro Technology, Parity Group, Psion Plc, QXL Richardo, Recognition Systems, Redbus Interhouse Plc, Sage Group, Sema, Sherwood International, Scoot.Com, SkyePharma, Ultrasis, XAAR Plc, and Zen Research.

REASONS FOR ACTIVITIES

• Online Directory Scoot.Com gained 1.01% on rumours that France's Vivendi Universal is in stages of acquiring Scoot.Com outright.

• Skyepharma gained 12.33% after announcing that it has secured £30 million in funding from Paul Capital Royalty Acquisition Fund to pay for phase III trials of its pain medicine Depmorphine.

• F.I. Group gained 16.96% after announcing that its first half profits rose 32% to £15 million. Sales rose 40%. F.I. Group also announced it will start looking for acquisitions targets in the US, Germany and France.

• BAE Systems lost 24.58% after issuing an earnings warning.

• Bright Station announced that it has entered into numerous deals with Intel on software products development. Bright Station gained 46.77%.

• Electronic retailer Dixons Group gained 10.84% after reporting a better than expected like-to-like interim sales results.

• British Airways gained 4.09% as fellow Oneworld Alliance member announces the acquisition of TWA and units of US Airways and DC Air. The acquisition will boost Oneworld Alliance's influence and market share.

PICKS FOR NEXT MARKET DAY

• The markets will be ruled by what decision the Bank of England takes tomorrow. We expect the Bank of England to hold rates steady.

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Market Summary and Analysis for Tuesday January 9th. 2001

FTSE 100: 6088.1   -61.5

FTSE 250: 6592.8   +10.8

FTSE 350: 2989.3   -25.5

FTSE A/S: 2932.65   -23.50

TechMARK 100: 2433.34   -4.95

SUMMARY

The London Stock Exchange (LSE) closed mixed as Vodafone Group pulled down the FTSE 100. Gainers included: AWG Red, Bankers Investment Trust Plc, British Airways, British Telecom, BskyB, Cantab Pharmaceuticals, Character Group, Chubb, Cobham, Coburg Group, Colt Telecom, Easyjet, Eidos, Enterprise Oil, Invensys, JD Wetherspoon, Kingston Telecommunications, McAlpine, Pearson Plc, Reed International, Scoot, Selfridges Plc, SIG, Thus Plc, and Torex NP.

REASONS FOR ACTIVITIES

• Department Store chain Selfridges rose 4.09% after announcing that its 23-week sales period ending January 6th. rose 6%.

• Cellular Phone maker Nokia reported that its phone slaes for year 2000 rose 64% to 128 million units sold, but below the forecasted 140 million units. The Nokia demise pushed down stocks of cellular related companies.

• Enterprise Oil gained 2.19% on news that a Brazilian exploration partnership that includes Shell have struck oil. Shell closed lower.

• Pub operator JD Wetherspoon gained 7.34% after announcing that its like-to-like sales for December rose 10%.

• Easyjet gained 3.18% after reporting that its December 2000 passenger load increased 28% from year before.

• Colt Telecom rose 4.04% after HSBC upgraded it to an "add" recommendation.

• Vodafone Group lost 3.40% on the Nokia news and on a story in the Australian Financial Review that Vodafone is considering selling its Australian mobile phone operations so as to acquire Cable & Wireless Optus mobile phone operations.

PICKS FOR NEXT MARKET DAY

• The mounting earnings warnings in the US, profit taking and the pending interest rates decision of the Bank of England will decide the markets this week.

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Market Summary and Analysis for Monday January 8th. 2001

FTSE 100: 6149.6   -48.5

FTSE 250: 6582.0   -7.1

FTSE 350: 3014.8   -21.0

FTSE A/S: 2956.15   -19.98

TechMARK 100: 2438.29   -10.34

SUMMARY

The London Stock Exchange (LSE) closed lower as markets seem unsure as to which way the Bank of England will go. Gainers included: AEA Technology, Alpharmeric Plc, Airtours Plc, ARM Holdings, Atlantic Telecommunications, Autonomy, Bioglan Pharmaceuticals, Blue Circle Industries, British Biotech, British Telecom, Cantab Pharmaceuticals, Character Group, Cobham, EasyNet Group, Eidos, F.I. Group, Freeserve, GlaxoSmithKline, Invensys, ITNet Plc, KS Biomedix Holdings, Lattice Group, Legal & General, Lynx Group, Manchester United, Marks & Spencers, Merant Plc, MFI Furniture Group, Pace Micro Technology, Parity Group, QSP Group, QXL Ricardo, Sage Group, Skyepharm, Spirent, Synstar, Terence Chapman, Thus Plc, and Torotrak Plc.

REASONS FOR ACTIVITIES

• The Institute for Management Services (IMS) reported that UK Production Index rose to 53.2 in December from November's 52.5 in November - any point above 50 is an expansion.

• The British Retail Consortium (BRC) reported that the UK December retail sales was robust with an increase of 3.4%.

• GlaxoSmithKline gained about 1% after UBS Warburg recommended the as a good buy under current prices.

• ITNet Plc. gained 24.05% after announcing that its contract with the Islington Borough Council has been increased by £17 million and extended for 3.5 more years.

• Manchester United FC gained after announcing plans to re-organize its merchandizing operations.

• Software developer Autonomy gained 11% after signing a resell and co-branding agreement with an IBM unit.

• Crude Oil prices closed higher after OPEC nations announced over the weekend plans to cut production.

• Europe's leading digital top box maker Pace Micro technology gained 14.75% after reporting quarterly profits that nearly doubled last year's.

• Cement Maker Blue Circle Industries gained 6.33% on news that French building materials company Lafarge is buying the company.

• British telecom gained after announcing that its mobile phone unit BT Cellnet added 1.5 million net new users in Q4 2000.

• Vodafone Group lost 5.99% after announcing that it is paying £648.2 million for a 34.5% interest in Grupo Iusacell, Mexico's 2nd largest mobile phone company.

• Character Group gained 37.29% on news that it has won the merchandizing rights to the coming Harry Potter movie.

PICKS FOR NEXT MARKET DAY

• The mounting earnings warnings in the US, profit taking and the pending interest rates decision of the Bank of England will decide the markets this week.

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Market Summary and Analysis for Friday January 5th. 2001

FTSE 100: 6198.1   +12.5

FTSE 250: 6589.1   +8.8

FTSE 350: 3035.8   +5.8

FTSE A/S: 2976.13   +5.40

TechMARK 100: 2448.63   -11.24

SUMMARY

The London Stock Exchange (LSE) closed mixed due to profit taking in technology and Internet stocks. Telecommunications stocks rallied the FTSE 100, but the underlining fears about the US economy were still visible. Gainers included: Abbey National, ARM Holdings, Axon Group, Bank of Scotland, Biocompatibles, BP Amoco Plc, British Telecom, Cambridge Antibody, Celltech Group, Colt Telecom, Dataflex, Fibernet Group, F.I. Group, Filtronic Plc, ITNet Plc, KS Biomedix Holdings, Lloyds TSB Group, Merrant Plc, Powderject Pharmaceuticals, QSP Group, QXL Ricardo, Retail Decisions, Safeway, Shell Transport & Trading Co. Plc, Shire Pharmaceuticals Group, Signet Group, Skyepharm, SurfControl, Terence Chapman, Tesco Plc, TrafficMaster, and Vodafone Group.

REASONS FOR ACTIVITIES

• UK's Housing Price Index dropped 1.1% in December, the worst such showing since may 1994. The annual Housing Price Inflation is now at 3.1%, the lowest rate since April 1996.

• NTC reported that its Permanent Placement Index, a good measure of UK employment situation, dropped to 56.2 in December, the lowest demand for Permanent staff in 21 months, and lower from its November 57.7 levels. Any point above 50 is an expansion. Overall, UK labour market is at the tightest levels in 20 years.

• Abbey National Bank gained 3.16% after Lloyds TSB restated its interest in acquiring the bank. Abbey National has rejected Lloyds £18 billion offer, but is seeking a merger with Bank of Scotland. Investors are expecting a hostile takeover battle. Lloyds gained a fraction, and Bank of Scotland gained 2.38%.

• Knowledge Management software developer Autonomy dismissed rumours that its growth rate was slowing. Autonomy closed up 17.41%.

• Telecommunications companies Colt Telecommunications, British Telecommunications, and Vodafone Group had substantial gains after Deutsche Bank selected them as their best telecommunications stocks of year 2001. Deutsche Bank also reiterated its "strong buy" recommendations on British Telecom and Vodafone Group. These telcos were behind the FTSE 100 rally today.

• Defence contractor BAE Systems lost 5% on rumours that its aircraft operations problems will affect the coming earnings report.

• Oil stocks closed higher on speculation that an OPEC production cut will mean bigger profits.

• Skyepharm gained another 5.04% after the news in the middle of the week that, Bioglan Pharmaceuticals Plc. has won the marketing rights in North America for its dermatology gel Solaraze. The US Food and Drug Administration approved Solaraze recently and Skyepharm expects the US market alone to be worth hundreds of millions of Pounds.

PICKS FOR NEXT MARKET DAY

• The mounting earnings warnings in the US, profit taking and the pending interest rates decision of the Bank of England will decide the markets next week.

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Market Summary and Analysis for Thursday January 4th. 2001

FTSE 100: 6185.6   +145.7

FTSE 250: 6580.3   +115.5

FTSE 350: 3030.0   +69.0

FTSE A/S: 2966.62   +62.18

TechMARK 100: 2457.27   +112.66

SUMMARY

The London Stock Exchange (LSE) rallied today in reaction to the US Federal Reserve Bank cutting interest rates. The European Central Bank actions today were also a contribution (see below). Gainers included: 365 Corp, AEA Technology, Alphametric Plc, ARM Holdings, Atlantic Telecom, Axis-Shields Plc, Bioglan Pharmaceuticals, Bookham Technology, BP Amoco Plc, British Biotech, British Telecom, Cedar Group, CMG Plc, Computacenter, Easynet Group, Fibernet Group, GEO Interactive, HSBC Holdings Plc, Infobank International, Invensys, IQE, Kewill Systems, LastMinute.Com, Lloyds TSB Group, London Bridge Software Holdings, Marconi Plc, Meggitt Plc, Morse, NSB Retail Systems, Psion Plc, QXL Ricardo, Recognition Systems, Ricardo Plc, RM, RoyalBlue Group, Sage Group, Scoot.Com, Signet Group, Staffware Plc, Telewest Communications, Thus Plc, Torotrak Plc, Vodafone Group, Weston Medical, and Xaar Plc.

REASONS FOR ACTIVITIES

• The European Central Bank (ECB) today left interest rates unchanged. Most economists are speculating the Bank of England will leave rates unchanged too when they meet next week.

• Mobile Phone and telecommunications shares gained after Vodafone and Orange reported they had -