LONDON STOCK EXCHANGE DAILY MARKET SUMMARY
AND ANALYSIS (Late Edition) ARCHIVES
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Market
Summary and Analysis for Monday February 26th.
2001
FTSE
100: 5916.7 -27.0
FTSE250:
6640.6 +15.0
FTSE
A/S: 2872.88 -4.01
TechMARK
100: 2342.75 +47.09
SUMMARY
The
London Stock Exchange (LSE) closed mixed as hope
of an early US interest rates cut helped technology
and telecommunications shares to rally. Gainers
included: Amvescap Plc, ARM Holdings Plc, Atlantic
Telecom, Baltimore Technologies, Blue Circle Industries,
Bookham Technology, BP Amoco Plc, British Telecom
Plc, CGNU Plc, CMG Plc, Colt Telecom, Compass
Group, Dimension Data Holdings, Energis Plc, F.I.
Group, Invensys Plc, Logica Plc, Marconi Plc,
Misys Plc, Sema Plc, Shell Transport & trading,
Signet Group, Spirent Plc, Tarsus Group, Telewest
Communications Plc, Vodafone Group Plc, and Wagon
Plc.
REASONS
FOR ACTIVITIES
-
Caterer
Compass Group closed lower despite announcing
that it is teaming up with Abu Dhabi National
Hotel to for a catering company that will
go after the £860 million Middle East catering
business.
-
HSBC
Holdings lost 7.01% after reporting full year
pretax profits of £6.6 billion, well below
the forecasted £7 billion. ING Barings downgraded
HSBC to a "sell" recommendation.
-
Vodafone
Group gained 2.30% on news that it is acquiring
AT&T's 10% stake in Japan Telecom for
£1 billion. This acquisition will give Vodafone
a 25% ownership of Japan Telecom, the largest
ownership by any foreign group.
-
CMG
Plc. gained 11.59% after reporting full year
pretax profits of £117 million, a 36% increase.
CMG's turnover rose a strong 33%.
-
Blue
Cirle Industries gained 0.05% after reporting
full year pretax profits of £325.4 million,
well above previous year's £272.1 million.
-
CGNU
Plc. gained 0.21% on the eve of its earnings
report. Gallaher Group, Nycomed Amersham,
and Knowledge Management Software, also reporting
tomorrow, closed lower.
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Market
Summary and Analysis for Friday February 23rd.
2001
FTSE
100: 5943.7 -59.4
FTSE250:
6625.6 -13.8
FTSE
A/S: 2874.51 -27.41
TechMARK
100: 2295.66 -44.65
SUMMARY
The
London Stock Exchange (LSE) closed lower as earnings
warnings from US companies sends the market in
a spiral. Gainers included: AEA Technology, Aegis
Group, Anglesey Mining, Arthur Shaw Plc, Beta
Vietnam, British Energy Plc, BTG Plc, Cambridge
Antibody, Clubhaus Plc, Eidos Plc, Fairey Group
Plc, F.I. Group, First Technology, Forbidden technology,
Galen Holdings Plc, George Wimpey Plc, Invensys,
Marks & Spencer Plc, Microgen Plc, Miller
Fisher Group Plc, Network Technology Plc, NSB
Retail Systems, Parity Group, Pendragon Plc, Powerject
Pharmaceuticals, PPL Therapeutics, QSP Group Plc,
Renishaw Plc, Royal Bank of Scotland, Sage Group,
Skyepharma Plc, Stockbourne Plc, SurfControl,
TeamTalk.Com, Torotrack, Viridian Group Plc, Weston
Medical Plc, Whatman Plc, and Zen Research.
REASONS
FOR ACTIVITIES
-
Marconi
lost 6.30% after Goldman Sachs cut its outlook
on global mobile phone sales, and downgraded
Marconi, Nokia, and France's Alcatel.
-
Telecommunications
and technology stocks closed lower (and took
the major indices down with it) after US'
Motorola and Sun Microsystems issued earnings
warnings.
-
Royal
Bank of Scotland gained 2.03% on the eve of
its earnings announcement Monday. HSBC and
CMG, also scheduled for Monday, closed lower.
-
PPL
Therapeutics, the biotechnology company that
cloned Dolly the sheep, reported today that
it has successfully made bovine heart cells
from skin cells by help of stem cells. Human
body parts growing is next. PPL gained 10.09%.
-
Northern
Ireland utility Viridian Group gained 0.22%
after announcing that it has completed the
sale of its Leeds power generating operations.
-
Banking
shares closed lower after the UK Secretary
of State for Trade & Industry announced
that he is referring the Lloyds TSB takeover
of Abbey National Bank to the competition
regulators. Analysts are worried this will
mute future banking takeovers.
PICKS
FOR NEXT MARKET DAY
-
We
are expecting another tough week. Unless of
course, bargain hunting, and/or another piece
of news changes things. Two of the UK's largest
banks report their full year earnings on Monday
- we are expecting no surprises.
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Market
Summary and Analysis for Thursday February 22nd.
2001
FTSE
100: 6003.1 +30.7
FTSE250:
6639.4 -28.2
FTSE
A/S: 2901.92 +9.92
TechMARK
100: 2340.31 -59.89
SUMMARY
The
London Stock Exchange (LSE) closed mixed and technology
shares took a tumble. Telecommunications shares
however, rallied. Gainers included: Abbey National
Bank, AEA Technology, Biocompatibles International,
Bookham Technology, British Energy Plc, British
Telecom Plc, Colt Telecom, Computacenter Plc,
David Smith, Diageo Plc, Egg Plc, Eidos Plc, Eircom,
Fairey Group Plc, Galen Holdings Plc, GlaxoSmithKline
Plc, Go-Ahead Group, Granada Plc, Hanson Plc,
Hilton Group, Indigovision Group, Invensys, Lex
Service Plc, Lloyds TSB, Marconi Plc, Motion Media,
Parity Group, Pendragon Plc, Reed International,
Ricardo Plc, Sema Plc, Skyepharma Plc, Smith &
Nephew Plc, SSL International, Telewest Communications,
Telework Group, Terence Chapman Group, Thus Plc,
Vodafone Group, and Zen Research.
REASONS
FOR ACTIVITIES
-
Food
group Diageo gained 0.29% after reporting
that interim profits rose 11% to £1.24 billion.
Diageo is also forecasting equal strong profits.
-
Colt
Telecom gained 5.32% after reporting that
its full year turnover rose to £687 million,
a 71% increase. Losses increase 15% to £117
million as the company spent expanding its
networks to 27 cities in over 11 countries.
Colt Telecom still has a strong cash position
with a war chest of about £1.6 billion.
-
Prudential
lost 0.81% despite reporting that its full
year pretax profits rose 8% to £840 million.
Prudential saw strong performance from its
M&G and Egg units. Prudential however,
admitted that the slowdown in the US economy
is finally taking its toll.
-
Credit
company Provident Financial lost 10.24% after
reporting that full year pretax profits rose
only 3% to £160 million.
-
Centrica
lost 3.90% despite reporting full year pretax
profits of £512 million, a 23% increase. Sales
rose 38% to £9.9 billion.
-
Hilton
Group gained 3.59% despite reporting that
full year pretax profits dropped 2% to £277
million.
-
British
Energy gained 12.07% as analysts became optimistic
that the company is turning itself towards
profitability.
-
Online
auction company QXL Ricardo lost 2.63% after
US rival eBay announced the purchase of France's
iBazaar. The purchase rockets eBay to a more
competitive position against QXL Ricardo in
Europe.
-
Transportation
group Go-Ahead Group gained 0.65% on the eve
of its earnings report.
-
Construction
company Hanson gained 2.3% after reporting
full year pretax profits that were in line
with estimates.
-
Media
and publishing giant Reed International gained
4.29% despite reporting a drop in full year
pretax profits. Reed International however,
announced that it is on target for its growth
outlook.
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Market
Summary and Analysis for Wednesday February 21st.
2001
FTSE
100: 5972.4 -7.7
FTSE250:
6667.6 -32.6
FTSE
A/S: 2892.00 -6.38
TechMARK
100: 2400.20 -75.40
SUMMARY
The
London Stock Exchange (LSE) closed lower again
as US economic uncertainty and earnings concern
cross the Atlantic. Gainers included: Allied Domecq
Plc, Anglesey Mining, Associated British Ports,
Astrazeneca, Autonomy Corp, BAE Systems, Bass
Plc, Berry Birch & Noble Plc, Beazer Group,
Biocompatibles International, British Energy Plc,
British Telecom Plc, Capita Radio Group, David
Smith, Dixons Group, EMI Group, George Wimpey,
GlaxoSmithKline Plc, Granada Plc, Hanson Plc,
Hilton Group, Iceland Group, International Paper,
International Power, Marks & Spencer, Mayflower
Corp, Nycomed Amersham, Persimmon Plc, Powergen
Plc, Prudential Plc, Reed International, Sema
Plc, SFI Group, SSL International, Standard Chartered
Bank, Tesco Plc, Unilever Plc, WPP Group, and
Xenova Group.
REASONS
FOR ACTIVITIES
-
Astrazeneca
gained 8.85% on news that the US' drug regulators
approved its ulcer drug called Nexium to be
marketed in the US.
-
GlaxoSmithKline
gained 4.07% after reporting that full year
pretax profits rose 13% to £5.3 billion. Pharmaceutical
sales rose 10% to £15.43 billion, with US
sales, which account for half of total sales,
rose 15%. GlaxoSmithKline also announced plans
to sell discounted AIDS drugs to charity groups.
-
Standard
Chartered Bank gained 4.48% after reporting
full year numbers that were above estimates.
Full year pretax profits rose 87% to £949
million.
-
Advertising
giant WPP Group gained 1.75% after reporting
that full year pretax profits rose 43% to
£365.7 million.
-
Logica
Plc. lost 9.28% despite reporting that half
year profits rose 52% to £64.8 million, while
sales rose 25% to £505 million.
-
Media
and Information giant Reed International gained
3.59% ahead of its earnings report tomorrow.
Also gaining on their eve were - Capita Radio
Group, Associated British Ports, Prudential,
Hanson, and Hilton Group.
-
Software
developer Baltimore Technologies lost 9.54%
after reporting full year pretax profits of
£74.2 million, a 219% increase from previous.
The slowing US economy is pushing pressure
on technology stocks.
-
Persimmon
and Beazer Group gained 3.64% and 1.75% respectively
after Persimmon's shareholders approved its
acquisition of rival Beazer.
-
Builder
George Wimpey gained 3.57% after reporting
full year pretax profit of £146 million, a
30% increase.
PICKS
FOR NEXT MARKET DAY
-
Bargain
hunting, earnings reports, and news will dictate
the market. Reed International, Capita radio
Group, Associated British Ports, Hanson Plc.,
Hilton Group, Prudential, Colt Telecom, Avis
Europe, and Centrica report earnings tomorrow.
Not to be overlooked will be how US markets
open tomorrow (their activities in after hours
trading are mixed).
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<---D036--->
Market
Summary and Analysis for Tuesday February 20th.
2001
FTSE
100: 5980.1 -113.9
FTSE250:
6699.5 -17.3
FTSE
A/S: 2898.38 -46.55
TechMARK
100: 2475.60 -29.79
SUMMARY
The
London Stock Exchange (LSE) closed lower as the
FTSE100 closed below the 6,000 mark, its lowest
level in 16 months. Gainers included: Allen Plc,
Alumasc Group, Automotive Precission Plc, Autonomy
Corp, AWG Red, BAE Systems, Baltimore Technologies,
Cedar Plc, Celltech Group Plc, Cobham Plc, CPL
Resources, Dicom Group, Eidos, Eircom, Fairey
Group, First Technology, Forbidden Technologies,
Granada Plc, Intec Telecom, International Paper,
Interx Plc, Inveresk Plc, IQE, Jefferson Smurfit,
Lattice Group, Marks & Spencer, Merant Plc,
Microgen Plc, Psion Plc, Parthus Technology, Ross
Group, Royal London Growth Plc, Serco Plc, Telework
Group, Tornado Group, and WPP Group.
REASONS
FOR ACTIVITIES
-
WPP
Group, Merant Plc, and Baltomore technologies
rose on the eve of their full year earnings
reports tomorrow.
-
Halifax
lost 3.95% after reporting that its full year
pretax profits rose 8% to £1.892 billion.
Net interest margin dropped from 1.92% to
1.76%, while secured lending rose 15% to £21
billion.
-
Software
developer Tornado rose 8.28% after announcing
a contract to supply its technology to a unit
of Italy's internet firm Tiscali.
-
Vodafone
Group and other telecoms extended their losses
today as worries on the sector mount.
-
Packaging
giant Jefferson Smurfit gained 1.60% after
reporting full year figures that were in line
with analysts' estimates.
-
Forbidden
Technologies gained 78.70% after releasing
its internet video compression technology
that was supposed to be released at the end
of year 2000.
-
Automotive
Precision gained 17.65% despite warning on
low profits for the past year. Automotive
Precision however, stated that current sales
are higher than they previously projected.
PICKS
FOR NEXT MARKET DAY
-
Bargain
hunting, earnings reports, and news will dictate
the market. GlaxoSmithKline, WPP Group, RPS
Group, Merant Plc, George Wimpey, Powergen,
Standard Chartered Bank, Logica Plc, and Baltimore
Technologies report earnings tomorrow. Not
to be overlooked will be how US markets open
tomorrow (their activities in after hours
trading are mixed).
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<---D035--->
Market
Summary and Analysis for Monday February 19th.
2001
FTSE
100: 6094.0 +5.7
FTSE250:
6716.8 -2.4
FTSE
A/S: 2944.93 +1.99
TechMARK
100: 2505.39 -14.60
SUMMARY
The
London Stock Exchange (LSE) closed mixed due to
losses in the telecommunications and technology
sector. Gainers included: ARM Holdings, BATM Advanced
Communications, Biocompatibles, British Telecom,
BP Amoco Plc, Cape Plc, Cedar Plc, Celltech Group
Plc, Cobham Plc, Computacenter Plc, Corus Group,
Eidos, F.I. Group, Fibernet Group, George Wimpey
Plc, GetMapping.Com, GlaxoSmithKline, Granada
Plc, Interx Plc, Invensys Plc, IQE, ITNet Plc,
J Sainsbury Plc, KS Biomedix, Logica Plc, Medisys
Plc, Meggitt Plc, M.I. Labs, Misys Group Plc,
Morse Plc, Oxford Glycosciences, Psion Plc, Northgate
Information Solutions, Parthus Technology, Phytopharma
Plc, Ricardo Plc, Shell Transport & Trading,
Shire Pharmaceutical Group, Tesco Plc, Torex Plc,
and Unilever Plc.
REASONS
FOR ACTIVITIES
-
Oil
prices closed higher on fears that the US
and British planes bombing Iraqi positions
over the weekend could affect oil supply.
-
British
Telecom gained 1.78% after The Financial Times
reported that the company is considering the
total floatation (IPO issue) of its BT Wireless
unit instead of the planned partial floatation.
Investors seem to agree, despite the woes
of France Telecom's Orange floatation, which
is now at 75% of its issuing value. British
Telecom hopes to use the BT Wireless proceeds
to reduce its immense debt.
-
Xenova
and Cantab Pharmaceuticals lost 12.93% and
2.08% respectively after announcing a £123.7
million merger.
-
Vodafone
Group lost 3.2% to close at a 2-year low after
Singapore Telecom announced that it is offering
£7.2 billion for Australia's Cable & Wireless
Optus. Investors are afraid the bid for Optus
by these 2 companies will turn nasty. Telecommunications
stocks were pulled down by the problems of
Vodafone.
-
Oil
giant BP Amoco today overtook Vodafone Group
as the most valued company in Europe (BP closed
with a capitalization that was £3 billion
above Vodafone).
-
Unilever
Plc. gained 1.12% after announcing that it
is selling its Bestfood Baking company to
George Weston Ltd. of Canada for £1.2 billion
in cash.
-
Drug
giant Boots Co. Plc. lost on on stories over
the weekend that it is selling its Halsford
and Boots Healthcare International divisions.
-
Supermarket
giant Tesco Plc. gained 2.87% after confirming
that it will meet earnings estimates.
-
Online
Bank Egg lost 0.75% after reporting bigger
full year losses due to bad debts. Egg however,
projected that it will break even in fiscal
Q4 2001.
-
Struggling
Steel company Corus Group gained 5.41% on
news that 3 European rivals - Aceralia of
Spain, Usinor of France, and Arbed of Luxembourg
- are merging into one company, thus helping
to drastically reduce the surplus steel on
the world market.
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<---D034--->
Market
Summary and Analysis for Friday February 16th.
2001
FTSE
100: 6088.3 -109.6
FTSE250:
6719.2 -32.6
FTSE
A/S: 2942.94 -46.54
TechMARK
100: 2519.99 -46.54
SUMMARY
The
London Stock Exchange (LSE) plunged after technology
leaders Nortel Networks, Dell Computer, and Hewlett
Packard reported less than stellar earnings and
outlook. Technology and telecommunications took
the most hit. Gainers included: Alterian Plc,
Anglesey Mining, Anglo American Plc, AWG Red,
Axon Group Plc, BAA Plc, BAE Systems Plc, Bank
of Scotland, BG Group, Boots Co. Plc, British
Telecom, Cadbury Schweppes Plc, Cammell Laird,
Canary Wharf Group Plc, Cobham Plc, Compass Group
Plc, Diageo Plc, Eurotunnel Plc, FreeServe Plc,
Galen Holdings, Gameplay Plc, GKN Plc, Hanson
Plc, Inchcape Plc, Kenwood Appliances, Keystone
Solutions Plc, Kingfisher Plc, Marks & Spencer
Plc, Medisys Plc, M.I. Labs, Orchestream Holdings,
Oxford Glycosciences, Northgate Information Solutions,
Pace Micro Technology, Pacific Media, Phytopharma
Plc, Royal Bank of Scotland, Sema Plc, Shell Transport
& Trading, Smith & Nephew Plc, Spirent
Plc, SurfControl, Torex Plc, Unilever Plc, United
Utilities, World Trade Systems, Zen Research,
and Zetters Group Plc.
REASONS
FOR ACTIVITIES
-
Lloyds
TSB closed down 4.28% after reporting full
year pretax profits of £3.9 billion, a 7.5%
increase, while income rose 5.8% to £8.4 billion.
-
Software
developer Sema gained 0.37% after reporting
full year profit of £91.9 million, which is
lower than the previous year's £96.1 million.
Sales rose a strong 7% to £1.5 billion.
-
Singapore-based
motor distributor Inchcape gained 5.62% after
confirming that it received a letter from
Guinness Peat Group, which owns 16% of the
company. Rumours are that Guinness Peat is
planning a £100 million takeover bid.
-
NMT
Group, a drug delivery system company, gained
2.90% after a US Federal Court in Indiana
ruled that the company didn't infringe on
the patent of Syringe Development Partners.
-
Eurotunnel
gained a fraction on the eve of its earnings
report. Online bank Egg, set to report earnings
on Monday also, lost a fraction.
-
Orbital
Software gained 1.64% after confirming that
it is in merger talks with rival Knowledge
Management Software. Knowledge Management
lost 10.49%.
-
UK
appliance maker Kenwood Appliances gained
17.44% after agreeing to a 100p a share, or
£45.9 million offer from Italian rival De'Longhi
Pinguino SpA. Kenwood closed at 99.75p.
-
Software
developer Keystone Solutions gained 40.54%
after announcing that it has raised £11.9
million in a new round of funding.
-
Aircraft
Engine and Auto maker Rolls Royce lost 0.25%
despite the fact that Australia's Qantas Airline
have selected its engines to power 12 of its
new twin back Airbus A380 planes.
PICKS
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<---D033--->
Market
Summary and Analysis for Thursday February 15th.
2001
FTSE
100: 6197.9 +21.7
FTSE250:
6751.8 +4.3
FTSE
A/S: 2989.48 +9.08
TechMARK
100: 2607.76 +47.73
SUMMARY
The
London Stock Exchange (LSE) rallied after US stocks
closed on a positive yesterday due to good earnings.
Gainers included: Anglo American Plc, AIT Group,
ARM Holdings, AWG Red, Babcock International,
Bass Plc, BATM Advanced Communications, Beta Vietnam,
BG Group, Bookham Technology, British Telecom,
Brown & Jackson, BTG Plc, Cobham Plc, CMG
Plc, Computacenter, Edinburgh Fund Managers, Eidos
Plc, Eircom, Emblaze Systems, Energis Plc, Filtronic
Plc, First Technology, Granada Plc, Hunting Plc,
Iceland Group Plc, Imagination Technology, Infobank
International, Invensys, Kenwood Appliances, Kewill
Systems, Kingston Communications, Lloyds TSB,
Logica Plc, Marchpole Holdings, Marconi Plc, Motion
Media, NSB Retail Sales, Parthus Technology, Parity
Group, Prudential, Psion Plc, Rage Software, Redstone
Telecom, Sage Group, SkyePharmaceuticals, Smith
& Nephew Plc, Spirent Plc, SurfControl, Telewest
Communications, Thus Group, Vocalis Plc, Vodafone
Group Plc, and Zen Research.
REASONS
FOR ACTIVITIES
-
Oil
giants Shell and BP Amoco lost as their future
outlook becomes an issue with investors. Shell
was downgraded by Goldman Sachs to a "market
perform" recommendation.
-
Telecommunications
stocks rallied on bargain hunting.
-
Betting
Company Zetters lost 27% after issuing an
earnings warning.
-
Food
retailer Iceland Group gained 13.64% on
