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

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Market Summary and Analysis for Thursday May 24th. 2001

FTSE 100: 5915.9   +18.5

FTSE 250:  6635.8  -27.9

FTSE A/S: 2864.51  +6.15

TechMARK 100: 2116.39   -0.36

SUMMARY

The London Stock Exchange (LSE) closed mixed as the US markets showed lack of direction by the LSE close. Gainers included: Abbey National, Antisoma, Arc International, Associated British Foods, Astrazeneca, Axis-Shield, Baltimore Technology, Bank of Scotland Plc, Barclays Plc, Bass Plc, BATM Advanced Communications, BG Group Plc, Bookham Technology, Boots Co Plc, British American Tobacco Plc, British Telecom, Carlton Communications, CGNU Plc, Diageo Plc, Dimension Data, Dixons Group, Domino Printing, Eidos, Eircom, EMI Group Plc, Euro Telecom, Fibernet, Filtronic, Galen Holdings, GlaxoSmithKline Plc, Granada, GUS Plc, Halifax Group Plc, Hanson Plc, HSBC Holdings, Imperial Tobacco, Imagination Technology, Intec Telecom Plc, International Power, Kidde Plc, Kingston Communications Plc, Knowledge Support Systems, London Bridge Software, Medisys Plc, Meggitt, Morrison Supermarkets, Morse Plc, Mothercare, NSB Retail Systems, Nycomed Amersham, Orchestream Holdings, Oxford Glycosciences, Parthus Technology, QXL Ricardo, Redbus Interhouse, Royal & Sun Alliance, Royal Bank of Scotland, SA Breweries, Safeway, Schroders NV, Scottish & Southern Energy, Scottish Power, Shell Transport & Trading, Shire Pharmaceuticals Group, Skyepharma, Smith & Nephew, Spectris Plc, Spirent, Sportech, Staffware Plc, Telecity, Trafficmaster, TTP Communications, Turbo Genset, Unilever Plc, United Utilities, Vocalis, and Zen Research.

REASONS FOR ACTIVITIES

• Redbus Interhouse gained 11.45% after reporting Q1 losses of only £362,000, well better than the £2.1 million losses seen last year, while turnover was up 32%. The Internet co-locator also announced that the economic slowdown is not going to slowdown its expansion as evidenced by the recent AOL Time Warner deal.

• Medisys gained 3.14% after reporting that Q1 turnover more than doubled to £10.4 million, while pretax losses widened from £2.4 million to £3.1 million.

• Bass Plc. rose after reporting fiscal first half pretax profits of £337 million, a 4% increase, on turnover of £2.09 billion, a 19.7% increase. Bass announced that in the first half of this year, it added 146 hotels.

• Celltech closed unchanged after making a trading statement that, for the first 4 months of this year, its turnover rose 24% to £80.8 million.

• Morrisons Supermarkets gained 3.5% after announcing that its like-for-like sales in the first 13 weeks of the year rose 7.7%.

• Railtrak lost 3.6% after reporting that its full year pretax profit dropped to £199 million, a 53% drop.

• United Utilities gained 2.3% after  reporting pretax profits that dropped to £310 million, on a turnover of £1.78 billion, a 27% decline. United Utilities also announced that it is increasing its dividends to shareholders by 2% to 46.1p per share.

PICKS FOR NEXT MARKET DAY

• US Markets closed higher and we expect the economic data and Federal Reserve Chairman Alan Greenspan's speech tomorrow will decide how the market closes tomorrow. Should the US markets open strong on Thursday, it will be good for the LSE.

• Watch for May to be the turning point from this bearish market.

indexbody --> Visit our sister portal to read more on our analysis and summary of the  United States

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Market Summary and Analysis for Wednesday May 23rd. 2001

FTSE 100: 5897.4   -79.2

FTSE 250:  6663.7  -8.8

FTSE A/S: 2858.36  -32.55

TechMARK 100: 2116.75   -50.11

SUMMARY

The London Stock Exchange (LSE) closed lower due to profit taking. Gainers included: Allied Domecq, Alphameric Plc, Antisoma, Associated British Foods, Autonomy Corp, Axis-Shield, BAA Plc, Bae Systems Plc, BATM Advanced Communications, Bodycote Plc, Bookham Technology, Boots Co Plc, British Airways Plc, Cadbury Schweppes, Canary Wharf Group, Cobham Plc, De La Rue, Diageo Plc, Dixons Group, EMI Group Plc, Fibernet, Glotel Plc, GUS Plc, Hanson Plc, Indigovision, Intec Telecom Plc, J Sainsbury, Kewill Systems, Kidde Plc, Kingfisher Plc, Land Securities, Lattice Group, Mothercare, Orchestream Holdings, QXL Ricardo, Railtrak, Redbus Interhouse, Redstone Telecom, Royalblue Group, SA Breweries, Schroders, Schroders NV, Scottish & Newcastle, Sherwood International, Smiths Group, Spectris Plc, SR Pharmaceuticals, Surfcontrol, Trafficmaster, TTP Communications, Unilever Plc, United Utilities, and Zen Research.

REASONS FOR ACTIVITIES

• The European Central Bank (ECB) left interest rates unchanged at 4.50%, but expressed concern about the rising inflation in the Eurozone.

• Bae Systems gained 3.54% after announcing that it will expand its operations in the US. Bae Systems is also reported to be in talks with Boeing for future co-operation.

• Bass Plc. lost 2.43% despite the ruling from a British High Court that government regulators unfairly ruled against its merger with Interbrew.

• Kingfisher 0.45% after reporting that fiscal Q1 turnover was up 11.3% to £2.9 billion. Kingfisher CEO Sir Geoffrey Mulcahy defended shareholder accusations for moving slowly in separating the company's general merchandising units from its core DIY and electrical goods business.

• EMI Group gained after Morgan Stanley Dean Witter raised its price target on the shares.

• TTP Communications gained 3.16% after announcing that it will integrate portable and synthesizable Bluetooth™ technology with synthesizable 32-bit cores from MIPS Technologies inc. for digital entertainment, office and home automation.

• Bookham Technology gained 3.16% due to renewed rumours that there might be a possible bid for the company.

• Bodycote gained 7.57% after stating that trading was in line with estimates and higher than last year's.

• Land Securities gained 0.34% after reporting full year income of £314.6 million, which was lower than last year's £327.7 million.

• De La Rue gained 2.39% after reporting full year pretax profit of £77.8 million. De La Rue also announced that it will spend £200 million in the next 2 years on acquisitions.

• Carlton Communications lost 4.85% after reporting interim pretax losses of £283.8 million. Carlton also made known that advertisement revenues will be lower for all of 2001.

• Mothercare, Railtrak, and United Utilities gained on the eve of their earnings report, while Bass Plc. closed lower.

• IQE lost 11.11% despite reporting that Q1 sales doubled to £12.9 million, and pretax profits tripled to £1.3 million.

PICKS FOR NEXT MARKET DAY

• US Markets closed lower due to profit taking and will have an impact on the market tomorrow. Should the US markets open strong on Thursday, it will be good for the LSE.

• Watch for May to be the turning point from this bearish market.

indexbody --> Visit our sister portal to read more on our analysis and summary of the  United States

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Market Summary and Analysis for Tuesday May 22nd. 2001

FTSE 100: 5975.3   +33.7

FTSE 250:  6672.5  +67.3

FTSE A/S: 2890.91  +18.52

TechMARK 100: 2166.86   +78.57

SUMMARY

The London Stock Exchange (LSE) closed higher as it followed lead of US markets which closed higher yesterday. Gainers included: AEA Technology, Allders, Allied Domecq, Amvescap Plc, Antisoma, Arc International, ARM Holdings, Astrazeneca, Autonomy Corp, Axis-Shield, Bae Systems Plc, Bank of Scotland, Barclays Plc, Bass Plc, BATM Advanced Communications, BG Group Plc, Billiton Plc, Biocompatibles, Blue Circle Industries, BOC Group Plc, Bookham Technology, BP Amoco, British Airways Plc, BskyB Plc, Cable & Wireless, Canary Wharf Group, Capita Group, Carlton Communications, Cedar Group, Centrica, CMG Plc, Cobham Plc, Colt Telecom, Compass Group, Computacenter, Daily Mail, Dimension Data, Dixons Group, Electrocomponent, Emblaze Systems, EMI Group Plc, Energis Plc, Fibernet, Filtronic, GKN Plc, Granada, Guardian IT, GUS Plc, Hanson Plc, Hays Plc, Hilton Group Plc, HSBC Holdings Plc, ICI Plc, International Power, Invensys, IQE Plc, Isoft Group Plc, Kewill Systems, Kingfisher Plc, Kingston Communications, Land Securities, Lattice Group, Logica Plc, Marconi Plc, Marks & Spencer, Meggitt Plc, Misys Plc, Monsoon Plc, Morse Plc, Motion Media, National Grid, Nycomed Amersham, Pearson Plc, Powergen Plc, Redbus Interhouse, Rentokil Initial, Reuters Group Plc, Ricardo Plc, Riversoft, RM, Royalblue Group, SA Breweries, Safeway, Sage Group Plc, Schroders, Schroders NV, Scottish Power, Shell Transport & Trading, Sherwood International, Smiths Group, Spectris Plc, Spirent Plc, Standard Chartered Bank, Surfcontrol, Telecity, Telemetrix, Telewest Communications, Telework Group, Terenece Chapman Plc, Tesco Plc, Trafficmaster, United Business Media, Vodafone Group Plc, Weston Medical Plc, WPP Group, Xansa, and Zen Research.

REASONS FOR ACTIVITIES

• ICI Plc. and Kingfisher gained on the eve of their AGMs.

• Radio Broadcaster GWR lost 4.52% after reporting full year pretax profits of £20.75 million, an 8% increase. GWR's Chairman Henry Meakin is also stepping down. GWR was hit after failing to give advertisement revenue guidance.

• Bass Plc. gained 0.88% as it awaits to find out tomorrow if a British High Court of Justice Alan Moses will allow it merge with Belgium's Interbrew. UK regulators have blocked the merger on concerns that Interbrew will control a duopoly with Scottish & Newcastle.

• Marks & Spencer gained 0.58% after reporting full year pretax profits of £480 million, a 13.8% decline from last year, but still met city estimates, while turnover dropped to £8.1 billion. Like-for-like sales grew only 2.6% for the year. Marks & Spencer made known that it will continue to expand into the food business.

• British Airways gained 5.61% after reporting full year pretax profits of a whopping £150 million, and operating profits rose to £380 million.

• National Grid gained 2.14% after reporting full year pretax profits of £481.3 million on turnover of £3.8 billion, a 135% increase.

• Entertainment giant EMI Group gained 2.96% after reporting full year pretax profits of £259.5 million, a 5.7% increase, on sales of £2.67 billion, a 12% increase. EMI also announced that its global share increased 1.6% to 14.1%.

• Software developer Intelligent Environments lost 50.60% after warning of significantly lower sales, and that it plans to raise £3 million through a discount placement of shares.

• Allders, Carlton Communications, and Land Securities gained on the eve of their earnings report.

• Media and Technology shares were very hot today.

PICKS FOR NEXT MARKET DAY

• We think today's rally will continue tomorrow because the US markets also closed stronger.

• Watch for May to be the turning point from this bearish market.

indexbody --> Visit our sister portal to read more on our analysis and summary of the  United States

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Market Summary and Analysis for Monday May 21st. 2001

FTSE 100: 5933.9   +18.9

FTSE 250:  6605.2  +22.5

FTSE A/S: 2872.39  +12.18

TechMARK 100: 2086.81   +63.03

SUMMARY

The London Stock Exchange (LSE) closed higher, thus extending last week's rally. Gainers included: Amvescap Plc, Anglo American, ARM Holdings, Bae Systems Plc, Bank of Scotland, Barclays Plc, Bass Plc, Billiton Plc, Bookham Technology, Boots Co. Plc, BP Amoco, British Airways Plc, BskyB Plc, Cable & Wireless, Cambridge Antibody Technology, Capita Group, Carlton Communications, Cedar Group, CMG Plc, Daily Mail, Dimension Data, Granada, GUS Plc, HSBC Holdings Plc, IQE Plc, Innovation Group Plc, Intec Telecom, Kingfisher Plc, Logica Plc, Marconi Plc, Misys Plc, M.L. Labs, Morrison Supermarket, Nycomed Amersham, Old Mutual, Oxford Glycosciences, Project Telecom, Psion Plc, Redbus Interhouse, Reuters Group Plc, Rio Tinto Plc, RM, Rolls Royce, Royal Bank of Scotland, Royalblue Group, Sage Group Plc, Scottish & Newcastle, Schroders, Schroders NV, Shire Pharmaceuticals Group, Spectris Plc, Telewest Communications, Tesco Plc, Torotrak Plc, Vodafone Group Plc, Whatman Plc, and WPP Group.

REASONS FOR ACTIVITIES

• Reckitt Benckiser lost after the Benckiser family was reported to be selling some of their holdings in the household products company.

• Rolls Royce gained on rumours that it set to announce a major contract with the United Airlines, the US carrier, next week.

• HSBC Holdings gained 1.14% on news that it is selling 75% of its 93.3% stake in Egyptian bank Credit International d'Egypt (CIE) to France's Credit Agricole Indosuez.

• Mining shares gained as Gold prices rose above $280/ounce.

• GlaxoSmithKline closed unchanged despite protesters at its AGM meeting.

• BP Amoco rose 0.64% on optimism that Crude Oil prices are poised to rise. BP Amoco also gained for wining the Saudi Arabian gas exploration deal. Shell, which was also named, closed lower.

• Bass Plc. gained 1.53% after announcing that it is paying £241 million for Regent Hong Kong Hotel.

• Alphameric lost 45.38% after warning that its current year results will be significantly lower than estimates.

• Cambridge Antibody Technology gained 6.09% after reporting net loss of £924,000 in the 6 months ended March 31, well down from last year's losses of £2.1 million. Cambridge Antibody Technology expects operating cost to rise in the second half. Cambridge Antibody also announced that it is teaming up with Immunex of the US to co-develop drugs and share profits.

• RM had heavy gains after reporting fiscal Q1 pretax profits of £2.1 million, a 36% increase.

• Torotrak gained 14.7% after reporting full year pretax losses of £8.2 million, £300,000 less losses than last year. The company also announced that it has submitted 3 transmissions to the US auto giants, General Motors and Ford Motor Co., for approval testing.

• Reuters Group gained on the successful floating of its Instinet ECN on the NASDAQ Friday. Visit our  United States page to read the outcome.

• British Airways and National Grid gained on the eve of their earnings reports, while Compass Group, EMI Group, Kingston Communications, and Marks & Spencer, closed lower.

PICKS FOR NEXT MARKET DAY

• We think today's rally will continue tomorrow because the US markets also closed stronger.

• Watch for May to be the turning point from this bearish market.

indexbody --> Visit our sister portal to read more on our analysis and summary of the  United States

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Market Summary and Analysis for Friday May 18th. 2001

FTSE 100: 5915.0   +10.5

FTSE 250:  6582.7  +41.1

FTSE A/S: 2860.21  +6.77

TechMARK 100: 2058.06   +19.86

SUMMARY

The London Stock Exchange (LSE) closed the week on a higher note. Gainers included: AEA Technology, Allied Domecq, Anite Group Plc, Applied Optical Technologies, Arc International, ARM Holdings, Astrazeneca, Autonomy Corp, Axis-Shield Plc, Azlan Group, Baltimore Technology, Bank of Scotland, Bass Plc, Blue Circle Industries, Boots Co. Plc, BP Amoco, BSS Group Plc, Cable & Wireless, Carlton Communications, Celltech Group, CMG Plc, Compass Group, Domino Printing, EMI Group Plc, Energis Plc, Filtronic, Galen Holdings, Gallaher Group Plc, GKN Plc, Granada, Halifax Group Plc, ICI Plc, Indigovision Group, Intec Telecom, Invensys, International Power Plc, J Sainsbury, Kidde Plc, Kingfisher Plc, KS Biomedix Holdings, Logica Plc, Marconi Plc, McBride Plc, Misys Plc, Nycomed Amersham, Oxford Glycosciences, Parity Group, Patsystems, Pearson Plc, Powergen Plc, Prudential Plc, Reckitt Benckiser, Reed International, Ricardo Plc, Safeway Plc, Scottish & Southern Energy, Scottish Radio, Shell Transport & Trading, Shire Pharmaceuticals Group, Spectris Plc, Standard Chartered Bank, Telewest Communications, Tesco Plc, Torex Plc, Turbo Genset, United Utilities, Whatman Plc, WPP Group, and Xansa.

REASONS FOR ACTIVITIES

• Scottish Radio gained 0.68% after reporting full year pretax profits of £7.8 million, a 5% decline from year ago, on a turnover of £40 million, an 18% increase.

• Customer Relationship Management (CRM) software developer Anite gained 9.60% after confirming that it is in early talks with a possible merger partner.

• Media giant Pearson gained after Telefonica of Spain confirmed that it is selling its 5% stake in the company.

• Capital Radio lost 1.66% after ABN AMRO downgraded it due to its earnings warning yesterday.

• Bass Plc. gained 0.13% on rumours that it is about to make a £2.8 billion offer for US luxury hotel chain Wyndham International. Bass already control the Holiday Inn and Posthouse chains.

• Marks & Spencer lost 1.27% after The Financial Times reported that there are over 20 potential buyers already lining up to acquire its US retail chain Brooks Brothers.

• Tobacco company Gallaher Group gained 2.70% after making a trading statement that its business operations are in line with estimates.

• Handheld device maker Psion lost 5.83% after US rival warned that its sales next quarter will be half the estimates.

• Marconi gained 1.60% despite a downgrade from Societe Generale, and an earnings estimate cut from Goldman Sachs.

• Reuters Group lost 1.08% after its floating of its Instinet ECN on the NASDAQ. Visit our  United States page to read the outcome.

• British Airways and Marks & Spencer closed lower on the eve of their earnings reports next week.

• AFTER CLOSE: BP Amoco and Shell were among the 8 companies that have won the multi-billion pounds Saudi Arabia gas development initiative.

PICKS FOR NEXT MARKET DAY

• Next week should be another strong week.

• Watch for May to be the turning point from this bearish market.

indexbody --> Visit our sister portal to read more on our analysis and summary of the  United States

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Market Summary and Analysis for Thursday May 17th. 2001

FTSE 100: 5904.5   +20.5

FTSE 250:  6541.6  +64.9

FTSE A/S: 2853.44  +12.71

TechMARK 100: 2038.20   +47.95

SUMMARY

The London Stock Exchange (LSE) closed higher as optimism from the US markets crossed the Atlantic. Gainers included: Abbey National, Allied Domecq, Amvescap Plc, Anglo American, Anite Group Plc, Arc International, ARM Holdings, Astrazeneca, Axis-Shield Plc, Baltimore Technology, Bass Plc, BATM Advanced Communications, BetInternet.Com, Billiton Plc, BOC Group Plc, British American Tobacco, British Airways, British Telecom, Cable & Wireless, Capital Radio, Cedar Group Plc, Celltech Group, CMG Plc, Colt Telecom Plc, Dimension Data, Dixons Group, Eidos Plc, Electrocomponent, Filtronic, Guardian IT, Hanson Plc, Hays Plc, Hilton Group Plc, HSBC Holdings, ICI Plc, Imperial Tobacco, Innovation Group, Intec Telecom, Invensys, Isoft Group Plc, J Sainsbury, Logica Plc, Marks & Spencer, Misys Plc, Morse Plc, National Grid, Next Plc, Nycomed Amersham, Old Mutual, Orchestream Holdings, Pace Micro Tech, Parthus Technology, Powergen Plc, Powerject Pharmaceuticals, Prudential Plc, Psion Plc, Railtrak, Reed International, Rentokil Initial, Reuters Group, Rio Tinto Plc, RM, Rolls Royce, Royal & Sun Alliance, SA Breweries Plc, Safeway Plc, Sage Group Plc, Scipher, Scottish & Newcastle, Scottish Power, Scottish Radio, Shell Transport & Trading, Shire Pharmaceuticals Group, Telewest Communications, TTP Communications Plc, United Utilities, United Business Media, Vodafone Group Plc, Whatman Plc, Xansa, and Zen Research.

REASONS FOR ACTIVITIES

• GKN lost 6.03% after warning that its current trading is affected by the deteriorating market conditions.

• Caterer Compass Group lost 5.65% after French rival Sodexho Alliance issued an earnings warning due to the Foot-and-Mouth outbreak.

• TTP Communications gained 40.29% after announcing that Intel is licensing its GSM/GPRS technology to use in its products.

• Telewest Communications gained 2.69% after announcing a deal with Japan's Sony so as to make its network PlayStation 2™ compatible.

• Selridges lost 0.14% despite announcing that its sales in the first 14 weeks of the year were up 8%.

• BetInternet.Com gained 14% after confirming that it has received a takeover offer.

• Innovation Group gained 1.13% after announcing that it is acquiring US insurance software consultants, Huon, for £181.75 million in cash and new shares.

• Retail Sales shares rose on the report that British Retail Sales rose 5.9% in April, the highest rise since January 2000.

• Marconi lost 2.55% despite reporting full year pretax profits of £662 million, in line with estimates.

• Networking software company Orchestream Holdings gained 15.24% after reporting fiscal Q1 sales that was almost double, and also making known that it is comfortable with analysts' estimates.

• British Telecom gained 1.97% after announcing a wireless chip alliance with Intel.

• Capital Radio gained 9.15% after reporting fiscal Q1 pretax profits of £18.3 million, an 18% decline. The company warned of June earnings.

• Scottish Radio gained 2.12% on the eve of its earnings report tomorrow.

PICKS FOR NEXT MARKET DAY

• The LSE will probably close lower due to profit taking.

• Watch for May to be the turning point from this