LONDON STOCK EXCHANGE DAILY MARKET SUMMARY
AND ANALYSIS (Late Edition) ARCHIVES
<---D130--->
Market
Summary and Analysis for Wednesday July
11th. 2001
FTSE
100: 5391.9 = -76.0
FTSE
250: 6126.1 = -28.7
FTSE
A/S: 2612.21 = -33.28
TechMARK
100: 1544.91 = -41.55
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed lower
as banking and telecommunications shares
lead the decline. Gainers included: Abbey
National, AEA Technology Plc, Allied &
Leicester, Allied Domecq, Associated British
Foods Plc, Azlan Group Plc, BAA Plc, Bae
Systems Plc, Baltimore Technology, BATM
Advanced Communications, BHP Billiton Plc,
Bioglan Pharmaceuticals, British American
Tobacco, BTG Plc, Centrica Plc, CGNU Plc,
Diageo Plc, Domino Printing Plc, EMI Group
Plc, Galen Holdings Plc, GKN Plc, GuardianIT,
GUS Plc, Halifax Group Plc, Hays Plc, Imperial
Tobacco, Intec Telecom Plc, International
Power, Isoft Group Plc, J Sainsbury Plc,
Kidde Plc, Kingfisher Plc, Land Securities,
Lattice Group Plc, London Bridge Software,
Meggitt Plc, Next Plc, Reckitt Benckiser
Plc, Rio Tinto Plc, Riversoft Plc, Rolls
Royce Plc, SA Breweries, Schroders Plc,
Scottish & Newcastle, Scottish &
Southern Energy, Scottish Power, Sherwood
International, Skyepharma, Smiths Group,
Spectris Plc, Tesco Plc, Thus Plc, United
Utilities, and Whatman Plc.
REASONS
FOR ACTIVITIES
- Marks
& Spencer lost 0.20% after reporting
that its like-for-like sales dropped
3.4% as sales of clothing, footwear
and gifts dropped 9.1% for the first
14 weeks ending July 7th. M&S chairman
Luc Vandevelde asked shareholders to
exercise patience and give the company
more time.
- Vodafone
Group and British Telecom lost 5.69%
and 3.81% respectively after confirming
that they are 2 of the 9 mobile phone
companies in the UK and Germany raided
by the European Commission competition
officials on suspicion of roaming fees
price fixing.
- Baltimore
Technology gained 4% today on speculation
that it is either a takeover target
or an alliance target after its CEO
Fran Rooney resigned yesterday.
- Lloyds
TSB lost 0.15% after Commerzbank downgraded
it to a "reduce" recommendation.
The Banking sector was generally hit
hard today after Commerzbank and Deutsche
Bank downgraded European banks due to
the struggling US and some European
economies.
- Hays
Plc. gained 3.98% after JP Morgan initiated
coverage of it with a "buy"
recommendation.
- Invensys
lost 8.91% after US automation and controls
rival, Emerson Electric, issued an earnings
warning.
- Defensive
shares like utilities, drinks, and catering
gained.
- Thus
Plc. gained 3.03% after announcing that
it expects 20% revenue growth and profitability
by the second half of the year. Thus
also made known that it is in advanced
talks with majority shareholder Scottish
Power about more funding.
- Reuters
Group lost 1.69% as shares of its spin-off,
Instinet® ECN, continue to slide.
PICKS
FOR NEXT MARKET DAY
- US
after hours market looks very promising.
If tomorrow's US economic data releases
like the Jobless Claims data are not
too discouraging, we expect the LSE
to recover tomorrow too.
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<---D129--->
Market
Summary and Analysis for Tuesday July 10th.
2001
FTSE
100: 5467.9 = -1.0
FTSE
250: 6154.8 = +26.6
FTSE
A/S: 2645.49 = +1.24
TechMARK
100: 1586.46 = +28.48
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 closed
lower as the TechMARK 100 gained again due
to optimism for technology shares. Gainers
included: Allied & Leicester, Arc International,
ARM Holdings Plc, BAA Plc, Bae Systems Plc,
Baltimore Technology, Barclays Plc, BOC
Group Plc, BskyB Plc, Cable & Wireless
Plc, Capita Group Plc, Centrica Plc, Claims
Direct Plc, CMG Plc, Dimension Data, EMI
Group Plc, Energis Plc, GKN Plc, GUS Plc,
ICI Plc, IQE Plc, Kingfisher Plc, Lloyds
TSB, Logica Plc, London Bridge Software,
Misys Plc, National Grid Plc, Next Plc,
Pace Micro Technology, Parthus Technologies
Plc, Pearson Plc, Powergen Plc, Rolls Royce
Plc, Royal Bank of Scotland, Sage Group
Plc, Schroders Plc, Schroders NV, Shire
Pharmaceuticals Group, Spirent Plc, Surfcontrol,
United Business Media, United Utilities,
Vodafone Group Plc, and WPP Group Plc.
REASONS
FOR ACTIVITIES
- CMG
and Sage gained 4.51% and 6.45% respectively
as investors found them oversold yesterday.
- Lloyds
gained 0.15% after UK regulators blocked
its acquisition of Abbey National. Abbey
National lost 0.59%.
- Baltimore
Technology gained 30.77% after its CEO
Fran Rooney resigned.
- Semiconductor
shares were hot again today, so were
software shares.
- Surfcontrol
gained 5.26% after stating that its
full year results will beat city estimates.
- Terence
Chapman lost 34.40% after issuing an
earnings warning.
- Autonomy
lost 6.94% despite announcing that its
earnings will beat in line of estimates.
- Orbital
Software lost 38% after issuing an earnings
warning about its fiscal Q1 period.
Orbital Software also announced the
resignation of its CEO Kevin Dorran.
- Claims
Direct gained 34.15% as its board is
set to vote that shareholders resist
the attempts of company founder Tony
Sullman to gain control of the company.
PICKS
FOR NEXT MARKET DAY
- US
after hours market looks mixed and such,
we expect any action on the LSE tomorrow.
If there is lack of bad news, investors
might ignore earnings warnings and do
some bargain hunting.
indexbody -->
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<---D128--->
Market
Summary and Analysis for Monday July 9th.
2001
FTSE
100: 5468.9 = -10.3
FTSE
250: 6128.2 = -10.0
FTSE
A/S: 2644.25 = -5.35
TechMARK
100: 1557.98 = +3.29
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 closed
lower as the TechMARK 100 gained due to
optimism for technology shares. Gainers
included: Allied & Leicester, Arc International,
ARM Holdings Plc, Artisan Plc, BskyB Plc,
BAA Plc, Bae Systems Plc, Baltimore Technology,
BOC Group Plc, Boots Co. Plc, BP Amoco Plc,
British American Tobacco, British Airways,
Cable & Wireless Plc, Cadbury Schweppes,
Carlton Communications, Colt Telecom Plc,
Electrocomponent Plc, EMI Group Plc, Friends
Provident Plc, Future Networks, ICI Plc,
Imperial Tobacco, International Power Plc,
Invensys, IQE Plc, Marconi Plc, Misys Plc,
National Grid Plc, Pace Micro Technology,
Parthus Technologies Plc, Pearson Plc, Reckitt
Benckiser Plc, Redstone Telecom Plc, Reed
International, Rentokil Initial Plc, Reuters
Group Plc, Royal Bank of Scotland, Royal
& Sun Alliance, Sage Group Plc, Scottish
Power, Shire Pharmaceuticals Group, Smith
& Nephew Plc, Telewest Communications,
Unilever Plc, United Utilities, Vodafone
Group Plc, WPP Group Plc, and Xenova Group
Plc.
REASONS
FOR ACTIVITIES
- Royal
Bank of Scotland gained again on the
US banking acquisition rumours. Other
banking shares closed lower as investors
have little hope for government approval
of Lloyds TSB acquisition offer for
Abbey National.
- Pace
Micro Technology gained 6.80% after
reporting full year pretax profits that
rose 61%, while turnover rose 39%.
- Medical
devices maker Smith & Nephew gained
0.14% after it was announced today that
it will replace Blue Circle Industries
on the FTSE 100. Blue Circle Industries
is being acquired by Lafarge of France.
- Marconi
gained 7.18% after Merrill Lynch identified
it as a takeover target. Marconi also
announced the resignation of its Deputy
CEO, John Mayo.
- Invensys
gained 3.09% after its US software systems
unit announced plans to reorganize into
2 operating divisions with Asia-Pacific,
European, Latin American, and North
American regional units.
- Safeway
lost 0.78% after reporting fiscal Q2
earnings that met estimates, but same
stores sales growth figures that were
dismal.
- Friends
Provident gained over 6% on its first
day of trading.
- Biotechnology
company, Xenova Group Plc, gained 6.45%
after making known that the US Food
and Drug Administration (FDA) has given
it the go ahead to commence trials on
its Cocaine Vaccine.
- Royal
& Sun Alliance lost 0.57% after
announcing that it is paying £3 million
for the loss making property and casualty
services unit of Independent Insurance
Group.
- Queens
Moat Houses lost 16.25% after announcing
that its first half pretax profits will
be below city estimates.
- Arc
International gained 7.37% despite a
cut in its full year earnings outlook
from Goldman Sachs.
- ARM
Holdings gained 2.98% after Morgan Stanley
upgraded it to a "buy" recommendation.
PICKS
FOR NEXT MARKET DAY
- US
after hours market looks rough due to
earnings warnings - expect the LSE to
be affected tomorrow.
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<---D127--->
Market
Summary and Analysis for Friday July 6th.
2001
FTSE
100: 5479.2 -70.4
FTSE
250: 6138.2 -63.5
FTSE
A/S: 2649.60 -33.40
TechMARK
100: 1554.69 -46.09
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed lower
again as technology shares continue to take
a beating due to earnings warnings. Gainers
included: Aegis Plc, Allied Domecq, Alphameric
Plc, Associated British Foods, Astrazeneca
Plc, Atlantic Telecom, Axon Group Plc, BAA
Plc, Bae Systems Plc, Bass Plc, BG Group
Plc, Blacks Leisure, Blue Circle Industries
Plc, Boots Co. Plc, BP Amoco Plc, British
American Tobacco, British Airways, British
Telecom, Cadbury Schweppes, Domino Printing,
Energis Plc, Filtronic Plc, GlaxoSmithKline
Plc, Granada Plc, Hanson Plc, Hilton Group
Plc, Imperial Tobacco, Innogy Plc, Invensys,
Intec Telecom, Kingfisher Plc, Lattice Group,
Legal & General, Low & Bonar Plc, Marks
& Spencer, Matalan Plc, Mears Group Plc,
Morrison Supermarket, Next Plc, Nycomed
Amersham Plc, Powderject Pharmaceuticals,
Powergen, Project Telecom, Reg Vardy Plc,
Royal & Sun Alliance, Scottish & Newcastle,
Scottish Power, Scottish & Southern Energy,
Shell Transport & Trading, Shire Pharmaceuticals
Group, Spirent, Tesco Plc, Thus Plc, Torotrak
Plc, Unilever Plc, and Xansa.
REASONS
FOR ACTIVITIES
- Royal
Bank of Scotland lost 6.47% despite
a report in the Boston (US) Globe newspaper
that the second largest UK bank is in
talks with Mellon Financial of the US
to buy its retail banking operations.
- Arc
International lost 22.8% after warning
about its fiscal Q2.
- Engineering
company Mears Group gained 20.16% after
stating that its current trading is
in line with forecasts.
- Biocompatibles
lost 38.22% after stating that it will
show a loss this year.
- Outdoor
outfitters Blacks Leisure gained 14.41%
despite warning that its first half
profits will be affected significantly
due to the Foot-and-Mouth disease.
- Banking
shares closed lower as investors await
the approval of Lloyds TSB bid for Abbey
National.
- Defensive
shares like retailers and gas gained,
while technology shares opened with
pressure from over earnings warnings
from US heavyweights like AMD and EMC
Corp.
- Scottish
& Newcastle gained 0.92% as it watches
development with the troubled German
family owned brewer Beck's. Beck's have
hired Goldman Sachs to review its options.
- Kingfisher
and Lattice Group gained 3.36% and 2.88%
respectively due to positive comments
from Goldman Sachs.
- Low
& Bonar gained on the eve of its earnings
report next week, while British Biotech,
Pace Micro Tech, and QA closed lower.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- We
think next week will be flooded by more
earnings warnings.
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ß-D127->
Market
Summary and Analysis for Thursday July 5th.
2001
FTSE
100: 5541.0 -59.5
FTSE
250: 6201.7 -64.2
FTSE
A/S: 2683.00 -25.56
TechMARK
100: 1600.78 -67.47
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed lower
again as technology shares were taken down
by Marconi's earnings warning yesterday.
Gainers included: Astrazeneca Plc, Bank
of Scotland, BG Group Plc, Blue Circle Industries
Plc, Boots Co. Plc, BP Amoco Plc, British
Telecom, Cadbury Schweppes, CGNU Plc, Compass
Group Plc, Dixons Group Plc, EMI Group Plc,
GlaxoSmithKline Plc, Imperial Tobacco, International
Power, J Sainsbury Plc, Kingfisher Plc,
Land Securities Plc, Lattice Group, Marks
& Spencer, Morrison Supermarket, Next Plc,
Nycomed Amersham Plc, Parthus Technology,
Powergen, Royal & Sun Alliance, Royal Bank
of Scotland, Schroders Plc, Schroders NV,
Scottish & Newcastle, Scottish Power, Scottish
& Southern Energy, Shell Transport & Trading,
Standard Chartered Bank, Tesco Plc, Unilever
Plc, and United Utilities.
REASONS
FOR ACTIVITIES
- The
Bank of England today held interest
rates steady at 5.25% as expected.
- The
European Central Bank (ECB) today held
interest (Repo) rates steady at 4.50%.
- Marconi
lost 54.08% on the first day of resumed
trading after announcing yesterday that
its operating profit will be only half
the city analysts' estimates. Marconi
also announced the sell of its medical
unit to Philips for $1.1 billion, and
its plans to cut 4,000 jobs.
- Internet
directory Scoot.Com closed unchanged
after reporting that fiscal Q1 losses
were 22% lower than the period before.
Scoot.Com however, stated that its cash
will last till September.
- Tesco
gained 0.59% after Irish Unions accepted
its pay raise offer at its Irish stores.
- Powergen
gained 0.14% after the US Securities
and Exchange Commission made known that
the power company has filed with it
to sell about $500 million in debts
instruments over time.
- Advertising
company Aegis lost 20.23% after issuing
an earnings warning and blaming the
poor state of the US advertising market.
- Baltimore
Technology lost 32.32% after announcing
yet another round of restructuring and
plans to cut 400 jobs due to a flat
Q2.
- Defensive
shares like pharmaceuticals were the
leading gainers today.
- Parthus
Technology gained 18.07% after making
a trading statement that its fiscal
Q2 outlook is still on track.
- British
American Tobacco lost after a UK High
Court failed to rule in its favour for
control of the Marlborough brand in
the UK.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- The
US after hours market looks troubling
due to an avanche of earnings warnings
from technology companies - this will
pull the LSE to close the week lower.
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ß-D126->
Market
Summary and Analysis for Wednesday July
4th. 2001
FTSE
100: 5600.5 -39.4
FTSE
250: 6265.9 -19.9
FTSE
A/S: 2708.56 -17.61
TechMARK
100: 1668.25 -67.00
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed lower
as technology shares were taken down by
a Marconi earnings warning. Gainers included:
Anglo American, Anite Group Plc, Bank of
Scotland, Barclays Plc, Bass Plc, BHP Billiton,
BP Amoco Plc, Celltech Group Plc, Centrica
Plc, CGNU Plc, Compass Group Plc, Dixons
Group Plc, GKN Plc, Halifax Group Plc, Hanson
Plc, J Sainsbury Plc, Land Securities Plc,
Next Plc, Nycomed Amersham Plc, Old Mutual,
Prudential Plc, Rentokil Initial, Rolls
Royce Plc, SA Breweries, Schroders Plc,
Schroders NV, Scoot.Com, Shell Transport
& Trading, and Smiths Group Plc.
REASONS
FOR ACTIVITIES
- Marconi
announced today that its operating profit
will be only half the city analysts'
estimates. Marconi also announced the
sell of its medical unit to Philips
for $1.1 billion, and its plans to cut
4,000 jobs. Marconi requested that its
shares be suspended from trading today.
- Banking
shares gained on the eve of the Bank
of England (B of E) and the European
Central Bank (ECB) interest rate decisions.
- Bass
gained 1.35% after the Office of Fair
Trading published 4 solutions to its
ownership by Interbrew of Belgium.
- Dixons
Group gained 0.11% after reporting that
its full year pretax profit rose 37%.
- Anite
Group gained 3.1% after reporting full
year pretax profits that rose 51%, well
above city estimates.
- Supermarket
chain Ice lost 8.8% despite reporting
full year pretax profits that were lower,
but met estimates.
- British
Airways lost 1.7% after rival KLM/Royal
Dutch Airline issued an earnings warning.
- Defensive
shares like oil and gas gained.
- Internet
directory Scoot.Com gained 10% on the
eve of its earnings report.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- The
Marconi debacle will weigh on technology
shares tomorrow again. We expect the
European Central Bank (ECB) and the
Bank of England (B of E) meetings to
also be factors how the markets close
tomorrow.
indexbody -->
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ß-D125->
Market
Summary and Analysis for Tuesday July 3rd.
2001
FTSE
100: 5639.9 -76.8
FTSE
250: 6285.8 -3.3
FTSE
A/S: 2726.17 -31.50
TechMARK
100: 1735.25 -67.38
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed lower
as technology shares were taken down by
earnings warnings. Gainers included: Allied
Domecq Plc, Alphameric Plc, Arc International,
Autonomy Corp, BAE Systems Plc, BHP Billiton,
BskyB, BP Amoco Plc, British Airways, British
Telecom, British Biotech, Carlton Communications,
Cordiant Communications, Electrocomponents
Plc, Energies Plc, Granada Plc, Hilton Group
Plc, International Power, IQE Plc, Kidde
Plc, London Bridge Software, Parity Group,
Reed International, Rentokil Initial, RM
Plc, Royalblue Plc, Schroders, Somerfield
Plc, Trafficmaster Plc, and Xansa Plc.
REASONS
FOR ACTIVITIES
- Kingfisher
closed unchanged after announcing that
it is selling its Superdrug unit to
privately held Dutch beauty and drug
chain Kruidvat Beheer for 310 Million
pounds, and that the demerger of its
Woolworths unit is under schedule.
- Marconi
lost 6.84% after Morgan Stanley cut
its earnings outlook and price target
on the company.
- Vodafone
Group lost 3.57% after Spain's Banco
Santander Central Hispano (BSCH) sold
750 million of Vodafone's shares for
$1.37 billion. BSCH now owns only 1.62%
of Vodafone.
- Granada
gained 2.99% after announcing that it
is setting up 4 lesiure portals - LiverpoolFC.tv,
ITV-FI, ITV -Football, and Arsenal FC
- in a partnership with LastMinute.Com.
The portals are expected out from this
July to August. Granada also announced
the renaming of its ITV to TTV1.
- Dimension
Data lost 28.68%, and took the tech
sector down with it, after warning that
the deteriorating market conditions
are putting pressure on it from meeting
its margins.
- Centrica
lost 0.93% after announcing the acquisition
of telecom company One.Tel UK and its
650,000 customers for 65 Million pounds.
- Allied
Domecq gained 1.25% after Australasian
rival Lion Nathan made known that it
is willing to sell its stakes in New
Zealand wine maker Montana Group (NZ)
to Allied.
- Somerfield
gained 6.85% after reporting full year
earnings that shows a halt in its sales
and revenue slide.
- Cordiant
Communications gained 3.79% on rumours
that it is a takeover target.
- Oil
futures gained on the US NYMEX after
OPEC announced in Vienna its intention
not to cut crude oil production.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- The
LSE will likely be stronger this whole
week. We expect the European Central
Bank (ECB) and the Bank of England meetings
this Thursday to be a catalyst too.
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ß-D124->
Market
Summary and Analysis for Monday July 2nd.
2001
FTSE
100: 5716.7 +74.2
FTSE
250: 6289.1 -9.8
FTSE
A/S: 2757.67 +14.44
TechMARK
100: 1788.19 +10.35
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed higher
due to encouraging economic news from the
US. Gainers included: Abbey National, Alliance
& Leicester, Amvescap, Anglo American Plc,
ARM Holdings Plc, BAA Plc, Bank of Scotland,
Barclays Plc, BG Group Plc, BHP Billiton,
BskyB, British Airways, British Telecom,
Capita Group Plc, Carlton Communications,
CGNU Plc, CMG Plc, Colt Telecom, Diageo
Plc, Electrocomponents Plc, EMap Plc, EMI
Group Plc, Energies Plc, GKN Plc, GlaxoSmithKline,
Halifax Group Plc, Hanson Plc, Huntingdon
Life Sciences, Interactive Investor, Lloyds
TSB, Logica Plc, Old Mutual, Prudential,
Reckitt Benckiser Plc, Reed International,
Reuters Group, Royal Bank of Scotland Plc,
Sage Group Plc, Schroders, Schroders NV,
Smiths Group Plc, Spirent Plc, Standard
Chartered Bank, Telewest Communications,
Tesco Plc, Unilever Plc, United Business
Media, Vodafone Group Plc, and WPP Group
Plc.
REASONS
FOR ACTIVITIES
- The
markets rallied after the National Association
of Purchasing Managers (NAPM) in the
US reported that its NAPM Index rose.
- Abbey
National gained 2.2% after the Daily
Telegraph reported that the bank holding
company intends to make a bid for Bank
of Scotland if Lloyds' bid is rejected
by regulators. Bank of Scotland gained
4.3% and so did other banking shares.
- Centrica
lost 5% after Merrill Lynch downgraded
it to a "neutral".
- EMap
gained 3.9% after announcing that it
is selling its US publishing business
to Primedia for $515 million.
- Interactive
Investor, the financial portal, gained
15.12% after confirming that it is in
takeover talks with AMP, an Australian
insurer.
- United
Business Media gained 13% after reporting
that its full year pretax profits rose
35% while sales rose 46%.
- Huntingdon
Life Sciences gained 72.73% after announcing
that the Trade and Industries Department
is taking over its banking facilities.
- British
Telecom gained 4.25% after the Sunday
Times reported that the telecom giant
is breaking up its 3 year money losing
Concerto joint venture with AT&T.
- Scottish
& Newcastle and Somerfield lost 1.36%
and 2.87% respectively on the eve of
their earnings reports.
- Telecom
shares were some of the best performers
today.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- The
LSE will likely be stronger this whole
week. We expect the European Central
Bank (ECB) and the Bank of England meetings
this Thursday to be a catalyst too.
indexbody -->
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ß-D123->
Market
Summary and Analysis for Friday June 29th.
2001
FTSE
100: 5642.5 +4.1
FTSE
250: 6298.9 +34.5
FTSE
A/S: 2728.12 +3.91
TechMARK
100: 1788.19 +10.35
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed higher.
Gainers included: Abbey National, AEA Technology,
Amvescap, Anglo American Plc, Anite Group
Plc, BATM Advanced Communications, BHP Billiton,
Cable & Wireless, CGNU Plc, Colt Telecom,
Daily Mail & General Trust, Dixons Group
Plc, Domino Printing, Eidos Plc, Eircom
Plc, Fibernet Group, First Technology, Hanson,
Hays Plc, Hilton Plc, Indigovision Group,
Innovation Group, InterX, IQE, Kewill Systems,
Kingston Communications, Lattice Group Plc,
Logica Plc, Marconi Plc, Marks & spencer,
Medisys Plc, Misys Plc, Motion Media, Old
Mutual, Pearson Plc, Redbus Interhouse,
Reed International, Reuters Group, Rio Tinto
Plc, Riversoft Plc, Rolls Royce Plc, RM
Plc, Scottish & Newcastle, Shire Pharmaceuticals
Group, Spirent Plc, Staffware, Whatman and
Weston Medical Plc.
REASONS
FOR ACTIVITIES
- Allied
Domecq lost 2.37% after announcing the
acquisition of California's Buena Vista
winery for 61 Million pounds.
- Supermarkets
closed lower after ASDA announced a
fresh round of price wars with a $140.5
million war chest.
- Rentokil
Initial lost 3.60% after Danish textile
giant Sophus Berendgen sold half of
its holdings in the company.
- Emblaze
Systems lost 16% after WestLB Panmure
downgraded it.
- Centrica
lost 1.20% after losing the first round
of the Goldfish credit card lawsuit
against HFC. Gas giant Centrica wants
to buyout partner HFC.
- Eircom
gained 2.78% after the current bid from
Sir Anthony O'Reilly led consortium
seem destined to be rejected due to
Denis O'Brien led consortium's successful
intervention.
- Marks
& Spencer gained 2.64% after William
Baird agreed to end its supply contract
termination lawsuit.
- Cookston
Group lost on an earnings warning.
- Innovation
Group gained after reporting that it
sees a whopping 250% revenue growth
this year, and it expects to make more
acquisitions.
- Most
sofware shares gained after a US Court
of Appeals rejected the breakup of Microsoft.
- Dixons
Group and Scottis & Newcastle gained
on the eve of their earnings reports
next week. Scoot.Com, also due to report
next week, closed lower.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- The
LSE will likely close next week strong.
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Visit our sister portal to read more on
our analysis and summary of the United States
ß-D122->
Market
Summary and Analysis for Thursday June 28th.
2001
FTSE
100: 5638.4 +30.5
FTSE
250: 6264.4 -10.4
FTSE
A/S: 2724.21 +11.00
TechMARK
100: 1777.84 +23.14
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed higher
a day after the US Federal Reserve FOMC
lowered interest rates. Gainers included:
Abbey National, AEA Technology, Alliance
& Leicester, Anglo American Plc, Arc International,
Astrazeneca, Autonomy, Bank of Scotland,
Bentalls, British American Tobacco, British
Telecom, Cable & Wireless, Carlton Communications,
Colt Telecom, CMG Plc, Compass Group Plc,
Dixons Group Plc, EasyNet Group Plc, Electronics
Boutique, Energis, Fibernet Group, First
Technology, Granada, GUS, Halifax Group,
IQE, Kewill Systems, Kingston Communications,
Marconi Plc, Misys Plc, RM Plc, Pace Micro
Tech, Spirent, Tomkinsand Vodafone Group
Plc.
REASONS
FOR ACTIVITIES
- Redstone
Telecom closed unchanged after 200 shareholders
who control 15% of the company are reported
to be set to vote against its rescue
package.
- Fibernet
Group gained 19.3% after stating that
its fiscal Q3 activities are looking
good.
- Oil
shares dropped after crude oil prices
dropped $1.37/barrel on the NYME in
the US on speculation that the UN will
likely lift its sanctions against Iraq.
- Employment
giant Michael Page lost 20.3% after
stating that its financial services
unit is having tough times due to the
weak US and Australian markets.
- Vodafone
gained 7.88% after KPN, the Dutch telecom
giant, disposed of its 120 million shares
of Vodafone.
- Spirent
gained 14.41% after announcing that
its networking business is coming along
fines, and that it will list its American
Deposit Receipts (ADRs) on the NYSE
in July.
- Tomkins
gained 3.2% after reporting full year
pretax profits that were 37% lower than
the year before.
- First
Technology gained 17.6% after reporting
that its full year profits rose 36%,
and sales rose 24%.
- NOTE:
Please bear with us, we haven't crossed
the corner yet.
PICKS
FOR NEXT MARKET DAY
- The
LSE will likely close the week strong.
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Visit our sister portal to read more on
our analysis and summary of the United States
ß-D121->
Market
Summary and Analysis for Wednesday June
27th. 2001
FTSE
100: 5602.2 +46.5
FTSE
250: 6274.8 +7.0
FTSE
A/S: 2713.21 +21.16
TechMARK
100: 1754.70 +19.10
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) closed higher
before the US Federal Reserve FOMC meeting
closed. Gainers included: Abbey National,
Alliance & Leicester, Amvescap Plc, Anglo
American Plc, ARM Holdings, Atlantic Telecom,
Autonomy, BAA Plc, Bank of Scotland, Barclays
Plc, Bass Plc, Boots Co Plc, Brown &
Jackson, British Airways, British American
Tobacco, British Telecom, Cadbury Schweppes,
Canary Wharf, Cedar Group, Celltech Group,
CMG Plc, Energis, Fibernet Group, Filtronic,
Granada, GUS, Halifax Group, HSBC Holdings,
IQE, J Sainsbury, Kewill Systems, Kingfisher,
Lattice Group, Laura Ashley, Marks & Spencer,
Morrison Supermarkets, Nycomed Amersham,
Old Mutual, Psion Plc, Prudential, Reckitt
Benckiser, Rio Tinto Plc, Royal Bank of
Scotland, Safeway, Sage Group, Scipher,
Spirent, Tesco Plc, Unilever Plc, United
Utilities, WPP Group, and Xansa.
REASONS
FOR ACTIVITIES
- Banking
shares rebounded as markets closed the
Feds decision.
- Lattice
Group gained 8.83% after it received
a benign review from OFGEM.
- Scoot.Com
lost 50% on news that its CEO Robert
Bonnier is resigning. Scoot also announced
that it has cash on hand to last till
September, and will raise more funds
by new issues or the sell of its Loot
magazine.
- British
Airways gained 1.43% after announcing
that it is joining 8 other airlines
to run an online cheap tickets business
to be called Opodo.
- Bass
gained 0.68% on news that it wants to
change its name to Six Continents, which
is supposed to reflect the depth of
its operations.
- Astrazeneca
lost 0.95% after pulling its chronic
pulmonary disease drug out of phase
III trials due to poor results. On the
upside, Astrazeneca has applied to the
US' FDA to get permission for a drug
that helps lower cholesterol.
- Xansa
gained 6.78% after reporting full year
profits that were 57% higher on turnover
that rose 41%.
- Trafficmaster
lost 36.84% after issuing a revenue
warning for the whole year.
- Psion
gained 12.50% after US rival Palm announced
that its m500 unit will return it to
profitability in 2 quarters.
