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

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Market Summary and Analysis for Thursday September 20th. 2001

FTSE 250: 4994.4 = -183.3

FTSE A/S: 2191.9 = -80.2

TechMARK 100: 1110.8 = -52.5

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) closed lower for the 3rd. day, and at the lowest level in 3 years. Gainers included: Acambis Plc, Antisoma Plc, Azlan Group Plc, BAA Plc, BG Group Plc, Bioglan Pharma Plc, Boots Co. Plc, British American Tobacco, British Telecom Plc, Cadbury Schweppes Plc, Cedar Group Plc, Dixons Group Plc, Hays Plc, Hilton Group Plc, Imperial Tobacco Plc, Innovation Group Plc, International Power, Kingfisher Plc, Kingston Communications, Lattice Group Plc, Logica Plc, Morrison Supermarket Plc, Ncipher Plc, Orchestream Holdings, Psion Plc, Scoot.Com Plc, Shire Pharmaceuticals Group, TBI Plc, and Ultra Electronics Holdings Plc.

REASONS FOR ACTIVITIES

• British Airways lost 12.27% after announcing plans to cut 7,000 jobs and withdraw 20 Aircraft from its fleet due to an anticipated decline in air travel after the US attacks.
• Defence company Alvis lost 2.02% after reporting first half pretax profits that declined £500,000 to £6.1 million, while turnover declined from £103.6 million to £69.5 million. Alvis' board also approved a £5.5 million redeemable preferences share buyback.
• Wireless giant Vodafone Group closed lower despite announcing that it is taking control of Japan Telecom, the 3rd. largest telecommunications company in Japan, by purchasing another 21.7% stake in the company.
• Invensys lost 9.52% after CS First Boston made known that the company will possibly do another rights issue.
• Insurance related shares were hit hard again today.
• Selfridges lost 4.82% despite reporting that first half pretax profits rose 32% to £16.2 million, which was in line with city estimates. Selfridges stated it can't forecast the second half yet due to the US attacks.
• Morrison Supermarket gained 3.62% after reporting first half pretax profits that rose 7.6% to £98.6 million.
• Austin Reed Group lost 0.88% despite reporting that first half pretax profits rose a whopping 73% to £2.5 million, and it expects further growth in the second half.
• Games developer Eidos lost 5.07% after reporting fiscal Q1 losses that declined £7.1 million to £10.6 million, while turnover declined £4.4 million to £12.2 million.
• Biopharmaceutical firm Acambis gained 3.63% after reporting first half losses of £5.5 million, while turnover rose £170,000 to £3.06 million. Acambis announced that it will start phase II clinical trials for its Japanese Encephalis Vaccine in early 2002.
• Oil shares were under pressure as crude oil prices dropped. Media and Telecommunications shares were also under pressure today.

PICKS FOR NEXT MARKET DAY

• The US after hours market doesn't look too bad, but then again this market has a mind of its own these days.

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Market Summary and Analysis for Wednesday September 19th. 2001

FTSE 250: 5177.7 = -85.3

FTSE A/S: 2272.2 = -57.7

TechMARK 100: 1163.3 = -36.1

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) closed lower again today. Gainers included: Alexon Group Plc, Alliance & Leicester Plc, Anglo American Plc, Antisoma Plc, Associated British Foods, Axon Group Plc, BAA Plc, Baltimore Technology, Beeson Gregory Plc, BTG Group Plc, Centrica Plc, CMG Plc, Computacenter Plc, Dixons Group Plc, Domino Printing Plc, Exchange FS Group Plc, French Connection Plc, Gallaher Group Plc, Hilton Group Plc, ICI Plc, Kewill Systems, Kidde Plc, Logica Plc, Matalan Plc, Morrison Supermarket Plc, Motion Media Plc, National Grid Plc, Ncipher Plc, Pace Micro Tech, Pearson Plc, Phytopharma Plc, Reed International Plc, RM Plc, Safeway Plc, Scottish Power Plc, Selfridges Plc, Spectris Plc, Spirent Plc, Staffware Plc, Tesco Plc, TTP Communications Plc, United Utilities Plc, Vodafone Group Plc, Weston Medical Plc, and Whatman Plc.

REASONS FOR ACTIVITIES

• Vodafone Group gained 1.25% after Reuters reported that Vodafone might unveil its plans for control of Japan Telecom before this week is over with.
• Invensys lost 25.66% to its lowest level in 10 years as a cloudy economic picture makes the company's recovery a lot far fetched.
• Cable & Wireless lost 12.17% after stating that its current trading is "difficult" and that first half sales will be 5% below estimates.
• Marconi lost 2.83% to hit a 24 year low.
• HBOS lost 8.17% despite reporting that, the combined first half pretax profits of Halifax Group and Bank of Scotland rose £35 million to £1.5 billion.
• Fashion retailer French Connection gained 3.32% after reporting first half pretax profits that rose 10.4% to £8.3 million.
• Aerospace companies closed weaker after Boeing Co. announced plans to cut 30,000 jobs.
• Exchange FS Group gained 9.52% after the e-commerce specialists confirmed they have been approached for a takeover and expect an offer.
• Marlborough Stirling lost 11.60% after reporting first half profits that rose 55% to £7.1 million, while turnover rose 48% to £33.7 million.
• Six Continents lost 1.48% after announcing that it expects "substantial" losses in the short term due to US terrorist attacks, since about 20% of its hotel profits are generated in September and November.
• Stockbroker Beeson Gregory gained 10.23% after confirming it is in merger talks with rival Evolution Group.
• Shoe retailer Alexon Group gained 8.66% after restating last year's first half losses of £100,000 to a pretax profit in this first half of £3.9 million.
• Morrison Supermarket and Selfridges gained on the eve of their earnings reports, while Austin Reed Group closed lower.

PICKS FOR NEXT MARKET DAY

• The US after hours market looks too directionless to make a call. We are however, hoping for some bargain hunting tomorrow.

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Market Summary and Analysis for Tuesday September 18th. 2001

FTSE 250: 5263.0 = -97.0

FTSE A/S: 2329.8 = -27.0

TechMARK 100: 1199.4 = -43.5

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) closed lower today. Gainers included: Acambis Plc, Alliance & Leicester Plc, Amersham Plc, Amlin Plc, Anglo American Plc, Anite Plc, Antisoma Plc, BHP Billiton Plc, BOC Group Plc, BP Amoco Plc, British Biotech Plc, British Telecom Plc, Cable & Wireless, Capita Group Plc, CMG Plc, Computacenter Plc, Diageo Plc, Diagonal Plc, Domino Printing Plc, Eircom Plc, Fibernet Group Plc, Hilton Group Plc, ITNet Plc, Kingfisher Plc, Lattice Group Plc, National Grid Plc, Ncipher Plc, Reed International Plc, Rio Tinto Plc, RM Plc, Royal & Sun Alliance, Schroders Plc, Schroders NV, Scipher Plc, Scottish & Newcastle, Scottish & Southern Energy, Staffware Plc, Telemetrix Plc, Telework Systems Plc, TTP Communications Plc, Vodafone Group Plc, and Whatman Plc.

REASONS FOR ACTIVITIES

• The Bank of England today cut its Repo Interest Rate by 25 basis points (0.25%) to 4.75%. The Bank of Japan also cut its Discount Rate from 0.25% to 0.10% today. This week alone, the Central Banks of Canada, ECB, Japan, Switzerland, and the US have lowered their interest rates so as to boost global economic activity after the US terrorist attacks.
• The Euro Zone Consumer Price Index, a good measure of inflation, rose only 2.7% in August. The Core PPI, which excludes volatile energy and food sectors, grew 2.0% for the second month in a row.
• Aerospace components makers were under pressure today due to the pressure airlines are under.
• Marconi lost 12.30% today to close at its lowest level despite announcing that its bankers have supported the company's recent operations reviews that included job cuts and top management changes after back to back earning warnings.
• Spirent lost 9.77% despite announcing the launch of Abacus2™, the latest version of its highly successful voice testing system.
• BHP Billiton and Anglo American lost 0.18% and 2.82% respectively after announcing that they are part of the 5 member Intercom-CZN consortium that has paid $12.5 million to the Columbian government to develop the $145 million Patilla coal mine valued at $1.3 billion.
• Biotech company Acambis gained 2.14% on speculation that the US government will place a major order for its Small Pox vaccine for fear of biological and chemical warfare from Terrorists.
• Carlton Communications and Granada lost 17.31% and 10.27% respectively after ABN AMRO stated that it will take the TV media about 10 years to return to their historic highs.
• International Power lost 12.49% despite reporting first half pretax profits that rose 39% to £152 million.
• British Airways lost 1.13% after ABN AMRO downgraded it to a "hold", and Schroder Salomon Smith Barney stated that the Tuesday terrorist attacks on the US will affect the airline industry more than the Gulf War.
• Lloyds underwriter Amlin gained 10.19% after announcing that its losses from the US attacks will be short term.
• November Brent Crude Oil futures eased 20 cents to close at $28.15/barrel.
• Gold prices closed stable at $289/troy ounce.

PICKS FOR NEXT MARKET DAY

• The US after hours market looks encouraging.

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 September 17th. 2001

FTSE 250: 5360.0 = -97.0

FTSE A/S: 2356.8 = +51.6

TechMARK 100: 1242.9 = -7.9

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) closed higher as markets ignored the US markets' plunge. Gainers included: Abbey National, Alliance & Leicester Plc, Amersham Plc, Amvescap Plc, Antisoma Plc, Astrazeneca Plc, BAE Systems, Baltimore Technology, Barclays Plc, BG Group Plc, Boots Co. Plc, BP Amoco Plc, BTG Group Plc, British American Tobacco, British Airways Plc, British Telecom Plc, Cable & Wireless, Cadbury Schweppes Plc, CGNU Plc, Computacenter Plc, Diageo Plc, Domino Printing Plc, Fibernet Group Plc, Filtronic Plc, Genemedix Plc, GKN Plc, GlaxoSmithKline Plc, Granada Plc, Hays Plc, HSBC Holdings, Imagination Technology, Imperial Tobacco, Intec Telecom Plc, International Power Plc, ITNet Plc, J Sainsbury Plc, Land Securities Plc, Legal & General Plc, Lloyds TSB Group Plc, Logica Plc, London Bridge Software, Marks & Spencer Plc, Morrison Supermarket Plc, Motion Media Plc, Next Plc, Old Mutual, Parity Group Plc, Parthus Plc, Prudential Plc, Psion Plc, Reckitt Benckiser Plc, Royal Bank of Scotland, Safeway Plc, Sage Group Plc, Schroders NV, Scipher Plc, Scottish & Newcastle, Scottish Power, Shell Transport & Trading, Smith & Nephew Plc, Spirent Plc, Standard Chartered Bank Plc, Telewest Communications, Thus Plc, Unilever Plc, United Business Media, United Utilities, Vodafone Group Plc, and WPP Group Plc.

REASONS FOR ACTIVITIES

• The US Federal Reserve FOMC cut its interest rates by 50 basis points (0.50%) before the reopening of US trading today. The European Central Bank (ECB), the Bank of Canada, and the Swiss National Bank also cut their interest rates by 50 basis points each (0.50) in show of confidence in the global economy after the the September 11th. attacks on the US.
• British Airways gained 6.67% despite a brutal onslaught of airline shares on US exchanges. In the UK, rival Virgin Airlines announced plans to cut 1,200 jobs and reduce some of its trans-Atlantic flights.
• Mobile Phone giant Vodafone gained 5.95% after announcing that, it intends to gain control of Japan's 3rd. largest telecom company, Japan Telecom. Vodafone, which already is the major shareholder in the company, is in talks to acquire the 15.1% of the company that East Japan Railways currently owns. Vodafone expects to end up with 66.7% of the company and challenge NTT DoCoMo's wireless supremacy in Japan.
• Elan Corp lost 6.28% despite announcing that it has started phase III trials for its Multiple Sclerosis treatment drug. ABN AMRO also upgraded the shares to a "buy".
• Oil shares rose as US retaliation for the Tuesday attacks seem focused on the Middle East.
• Cedar Group lost 58.98% after warning that its full year fiscal 2001 figures will be short of estimates due to a tough market environment.
• Defensive shares like drugs gained, and insurance shares, which were under pressure all of last week, recovered as their exposure to the US attacks seem less than previously thought.
• Scottish & Newcastle gained 3.52% on a Goldman Sachs upgrade to "market perform".
• Defense company BAE Systems gained 3.63%, and so did other defense related shares, as investors expect a demand for their products due to rising global tensions.
• Astrazeneca gained 3.64% after announcing that it has won UK approval for its Prostrate Cancer drug Casodex™.
• Lodging and Transportation shares were hit hard.
• Medisys lost 3.60% despite wining the US FDA approval for its Diascreen 50™, an automated Urine strip analyzer.

PICKS FOR NEXT MARKET DAY

• The US and Euro Zone CPI data set to be released tomorrow will be an important factor as how the markets close.

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 September 14th. 2001

FTSE 250: 5457.0 = -99.6

FTSE A/S: 2305.2 = -82.4

TechMARK 100: 1250.8 = -46.1

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) plunged today as the world awaits the opening of US equity markets on Monday. Gainers included: Axon Group Plc, Azlan Group Plc, Domino Printing Plc, Fibernet Group Plc, Galen Holdings, Intec Telecom Plc, IQE Plc, ITNet Plc, J Sainsbury Plc, Marlborough Stirling Plc, National Express Plc, Northgate Information Solutions, NSB Retail Systems, Parity Group Plc, Patsystems Plc, Phytopharma, Renold Plc, Ricardo Plc, RM Plc, Safeway Plc, Smiths Group, Spectris Plc, Telemetrix Plc, Telework Systems, Tesco Plc, Torotrak Plc, Weston Medical Plc, Wellington Underwriting, and Whatman Plc.

REASONS FOR ACTIVITIES

• British Airways lost 15.82% despite announcing that it is resuming US flights today. Analysts were weary of all European Airlines who have a high exposure to the North American market, and some analysts went as far as predicting many of them will file for bankruptcy.
• British Telecom (BT) lost 2.98% despite a Merrill Lynch upgrade to "accumulate".
• Property and Casualty insurance companies took a beating as the market brace for the final tally of the US terrorist attacks.
• Crude Oil prices gained today as a US military retaliation becomes eminent.
• Gold closed today at $288.50/troy ounce, its highest levels in 4 months, as markets brace for a US retaliation.
• BATM Advanced Communications lost 11.32% after reporting first half losses that rose from $7 million to a whopping $40.5 million, while turnover rose from $36.8 million to $42.4 million.
• Smiths Group gained 0.22% after CS First Boston reiterated its "buy" recommendation.
• Invensys lost 6.34% after its Japanese electronics subsidiary issued an earnings warning.
• BAE Systems lost 1.36% despite an upgrade from Morgan Stanley to "outperform" after the defense related company reported a record book order yesterday.
• Food retailers held their ground today to close in the positive.
• ITNet gained 14.20% after reporting first half pretax profit of £5.7 million, well better than the £2.3 million loss reported last year. ITNet reported that its turnover rose 16% to £87.6 million.
• Our hearts and thoughts go out to the victims of the US terrorist attacks and their loved ones.

PICKS FOR NEXT MARKET DAY

• All eyes are on US Equity markets when they resume trading Monday at 9:30 AM EDT.

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Market Summary and Analysis for Thursday September 13th. 2001

FTSE 250: 5556.6 = +35.4

FTSE A/S: 2387.6 = +27.3

TechMARK 100: 1296.9 = +8.4

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) rallied again on optimism that the US Federal Reserve Bank might raise interest rates after the terrorist attacks. Gainers included: 3i Plc, Abbey National, Aberdeen Asset Management, Alliance & Leicester, Amersham Plc, Amvescap Plc, Astrazeneca Plc, BAE Systems Plc, Barclays, BHP Billiton Plc, Bioglan Pharma, Bookham Technologies, Boots Co. Plc, British American Tobacco, British Telecom Plc, Cable & Wireless, Cadbury Schweppes, Celltech Group Plc, Centrica Plc, CGNU Plc, Compass Group Plc, Diageo Plc, Dixons Group Plc, Eidos Plc, Emblaze Systems Plc, Filtronic Plc, Friends Provident Plc, Galen Holdings Plc, Gallaher Group Plc, GlaxoSmithKline, Guardian IT, Hanson Plc, HBOS Plc, Henleys Group Plc, Hilton Group Plc, HSBC Holdings Plc, Imperial Tobacco Plc, Innogy Holdings, J Sainsbury Plc, Kingfisher Plc, Knowledge Management Systems, Lattice Group Plc, Lloyds TSB Group, Man Group Plc, Medisys Plc, Misys Plc, Morrison Supermarket, Music Choice Plc, Northern Rock Plc, Orchestream Holdings, Patsystems Plc, PIC International Plc, Powergen Plc, Prudential Plc, Reed International, Reuters Group Plc, Rio Tinto Plc, Rolls Royce Plc, Royal & Sun Alliance, Royal Bank of Scotland, Safeway Plc, Schroders, Schroders NV, Scottish & Newcastle, Scottish & Southern Energy, Severn Trent Plc, Sherwood International, Six Continents Plc, Skyepharma Plc, Smith & Nephew Plc, Smiths Group, Tesco Plc, Thus Plc, Trafficmaster, Unilever Plc, United Business Media Plc, Vodafone Group Plc, Weston Medical Plc, Whatman Plc, Woolworths Group Plc, WPP Group Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• The European Central Bank (ECB) left its Repo (Interest) Rates unchanged at 4.25% in September.
• The Euro Zone Gross Domestic Product (GDP) for Q2 2001 grew a mere 0.1%, while over the year growth was only 1.7%. Q2 2001 Investments declined 0.8%, while Exports declined 1.2%.
• Woolworths gained 5.93% after reporting a strong turnover yesterday.
• Insurance shares recovered today on hopes that the US Federal Reserve will lower interest rates.
• BAE Systems gained 12.50% after reporting first half pretax profit of £482 million, about £18 million short of city estimates. Turnover however, rose from £5.66 billion a year ago to £6.29 billion. BAE also increased its dividend payments from 3.3p/share to 3.5p/share.
• Oil shares closed lower after OPEC and Saudi Arabia made known that they intend to keep crude oil flowing as much as the world market needs, even if the US takes military action in the Middle East.
• Defensive shares like Food processing, gas distribution, and tobacco closed higher.
• British Airways lost 5.77% after Standard & Poor's® downgraded its credit ratings on British Airways, all US airlines and their related units, and Air Canada, due to the "significant risks" created by the terrorists attacks.
• Lattice Group gained 7.84% after reporting first half pretax profits that rose 22% to £546 million.
• Arc International lost 18.48% after issuing a fiscal Q3 sales warning and announcing that its CEO, Bob Terwilliger, has been sacked.
• The US Dollar continued its recovery against the Pound Sterling today.

PICKS FOR NEXT MARKET DAY

• US Equity markets are expected to open Monday at 9:30 AM EDT.

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 September 12th. 2001

FTSE 250: 5521.2 = -78.2

FTSE A/S: 2360.3 = +48.8

TechMARK 100: 1288.5 = +9.6

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) rallied to recover losses seen after yesterday's US terrorist attacks. Gainers included: Abbey National, Aegis Group Plc, Alliance & Leicester, Allied Domecq Plc, Amec Plc, Amersham Plc, Amvescap Plc, Ashtead Group Plc, Arc International, ARM Holdings Plc, Associated British Foods, Astrazeneca Plc, Atlantic Telecom, BAA Plc, Baltimore Technology, Barclays, BOC Group Plc, Bookham Technologies, Boots Co. Plc, British American Tobacco, British Biotech Plc, British Telecom Plc, BskyB Plc, Cable & Wireless, Cadbury Schweppes, Canary Wharf, Carlton Communications, Celltech Group Plc, Centrica Plc, CGNU Plc, Chubb Plc, CMG Plc, Colt Telecom, Debenhams Plc, Diageo Plc, Dixons Group Plc, Egg Plc, Emblaze Systems Plc, EMI Group Plc, Energis Plc, Filtronic Plc, Gallaher Group Plc, George Wimpey Plc, GKN Plc, GlaxoSmithKline, Guardian IT, Hanson Plc, Hays Plc, HBOS Plc, Hilton Group Plc, HSBC Holdings Plc, Imagination Tech, Imperial Tobacco Plc, Innogy Holdings, Invensys Plc, J Sainsbury Plc, Kingfisher Plc, Lattice Group Plc, Legal & General, Lloyds TSB Group, Logica Plc, Marconi Plc, Marks & Spencer Plc, Medisys Plc, Morrison Supermarket, National Grid, Northern Rock Plc, Orchestream Holdings, Powergen Plc, Psion Plc, Prudential Plc, QXL Ricardo Plc, Reckitt Benckiser Plc, Reed International, Reuters Group Plc, Rolls Royce Plc, Royal Bank of Scotland, SA Breweries, Safeway Plc, Sage Plc, Schroders, Schroders NV, Scottish & Newcastle, Scottish & Southern Energy, Severn Trent Plc, Shire Pharmaceuticals Group, Smiths Group, Standard Chartered Bank, Telecity Plc, Telewest Communications, Tesco Plc, Thus Plc, Trafficmaster, Unilever Plc, United Utilities Plc, United Business Media Plc, Vodafone Group Plc, Volex Group Plc, and Woolworths Group Plc.

REASONS FOR ACTIVITIES

• UK number of unemployed declined 6,000 to 945,600 in July, as the Unemployment Rate declined to 3.1%, its lowest level since 1975.
• Biotech firm Celltech Group gained 0.38% after announcing that it is paying £31.2 million for German pharmaceuticals firm Thiemann.
• Woolworths gained after reporting first half losses that rose to about £40 million, while turnover rose 8% to £938 million.
• Advertising and market research company Aegis Group gained 3.20% after reporting first half pretax profits that declined £7.5 million to £27.2 million.
• Insurance shares were hit hard as US terrorist attacks are expected to cost them tens of Billions of Pounds.
• Kingfisher gained 2.61% after reporting first half profits that declined 10.7% to £182.2 million -which was below city estimates, while turnover rose 12.5% to £4.6 billion. Retailing and supermarket shares generally generally gained today.
• Support services firm Interserve lost 2.45% despite reporting first half pretax profits that rose 31% to £22.6 million, while turnover rose 41% to £636 million. Interserve made known it has £3.3 billion in work on hand, and about £400 million in the pipeline.
• Oil shares closed lower as crude oil futures prices eased back today.
• Telecommunications and pharmaceuticals rebounded today.
• It is now official: Carlton Communications, CMG, Colt Telecom, Energis, Marconi, Misys, Spirent, and Telewest Communications are being relegated out of the FTSE 100. British Land, Enterprise Oil, Friends Provident, Innogy Holdings, Man Group, Northern Rock, and Wolesley will be promoted to the FTSE 100.
• The Pound Sterling saw some aggressive buying today as investors found it, together with the Swiss Franc and the Euro as "safe haven". Nevertheless, the Pound gave back some of its gains against the US Dollar yesterday.
• Canary Wharf gained on the eve of its earnings report, while BAE Systems closed lower.

PICKS FOR NEXT MARKET DAY

• US Equity markets will be closed tomorrow, but US Treasury markets will be opened. How the markets do tomorrow depends on developments.

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<---D173--->

Market Summary and Analysis for Tuesday September 11th. 2001

FTSE 250: 5599.4 = -150.6

FTSE A/S: 2311.5 = -127.1

TechMARK 100: 1278.9 = -61.9

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) slumped (and indeed all global markets) after the US World Trade Centres were brought down by terrorists (see below). Gainers included: Alphameric Plc, Amey Plc, Axon Group Plc, BAE Systems Plc, BATM Advanced Communications, BP Amoco Plc, BTG Group Plc, Diagonal Plc, Eidos Plc, Enterprise Oil Plc, Fibernet Group Plc, Guardian IT, Innovation Group Plc, Intec Telecom, Kewill Systems, Motion Media, NSB Retail Systems, P&O Princess Plc, Parity Group Plc, Shell Transport & Trading, Spectris Plc, TT Electronics Group Plc, Whatman Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• The US Twin World Trade Centre towers and the World Trade Centre #7 were brought to ruins after 2 planes hijacked on a US domestic flight were rammed into the 2 towers. The American Express building looks too shaky to make a call. The Pentagon, the headquarters of the Department of Defense in Washington D.C, was also rammed by a hijacked plane, while the 4th. hijacked plane crashed around Pittsburgh Pennsylvania, before reaching its target. All US markets were closed today.
• Amey gained 7.24% after reporting first half pretax profits that rose 40% to £12.9 million, while turnover rose 32% to £397.6 million.
• Oil shares like BP Amoco and Shell gained after October Brent crude oil prices rose to close at $29.44/barrel due to the US attacks.
• Retailer Next lost 4.12% despite reporting first half pretax profits that rose 15% to £93 million.
• Insurance shares were hit hard due to the US attacks.
• Airline shares slumped after the US and Canada closed their borders to both domestic and International traffic due to the US attacks.
• Gold prices surged $19/ounce to $290/ounce, while the Pound Sterling was at its 6 month high against the dollar due to the attacks.
• Media company SMG Group lost 8.25% after reporting first half pretax profits that were 33% below the year ago.
• Internet usage monitoring software developer Surfcontrol lost 3.26% after reporting first half loss of $13.9 million, well higher than the $9.5 million losses reported last year. Revenue rose 196% to $42.2 million. Surfcontrol also made known that it is interested in bidding on Baltimore Technologies' Content Technologies unit. Content Technologies, which was acquired last year by Baltimore for £700 million but now estimated to be worth no more than £70 million, develops software for e-mail screening.
• Friends Provident lost 8.89% after posting first half pretax profits of £2 million, while total single premiums were £822 million for the period.
• TT Electronics Group gained 4.49% after reporting pretax profits that rose 5% to £23.8 million. TT Electronics expects the second half to be even better as orders continue to improve. HSBC Holdings upgraded TT Electronics to a "buy".
• Tomorrow before close, the FTSE 100 quarterly reshuffle will be announced. Analysts expect Carlton Communications, CMG, Colt Telecom, Energis, Marconi, Misys, Spirent, and Telewest Communications to be relegated, while British Land, Enterprise Oil, Friends Provident, Johnson Matthey, Man Group, P&O Princes, and Severn Trent to be promoted.

PICKS FOR NEXT MARKET DAY

• Tomorrow is anyone's guess.

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

<---D172--->

Market Summary and Analysis for Monday September 10th. 2001

FTSE 250: 5750.0 = -110.7

FTSE A/S: 2438.6 = -22.7

TechMARK 100: 1340.8 = -25.5

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) started the week on a lower note. Gainers included: Abbey National, Allied Domecq Plc, ARM Holdings, Atlantic Telecom Plc, Autonomy Corp, Axon Group Plc, Azlan Group Plc, BAE Systems Plc, BG Group Plc, Brambles Industries, Cable & Wireless Plc, Cadbury Schweppes Plc, Carlton Communications Plc, CMG Plc, Computacenter Plc, De Vere Group Plc, Energis Plc, GKN Plc, HSBC Holdings Group Plc, IMI Plc, Innovation Group Plc, KS Biomedix Holdings, Land Securities Plc, Logica Plc, Lloyds TSB Group Plc, Marconi Plc, Minerva Plc, Morrison Supermarket Plc, Old Mutual, Rentokil Initial Plc, SA Breweries, Scottish & Newcastle Plc, SmartLogik Group Plc, Tarsus Group Plc, Telewest Communications Plc, United Utilities Plc, Vodafone Group Plc, Wiggins Group Plc, and WPP Group Plc.

REASONS FOR ACTIVITIES

• BREAKING NEWS: On Tuesday, the 2 twin World Trade Centers in New York City, the brain centers of the US financial markets, were blown up today after 2 planes collided into them. The US Pentagon, home of the Department of Defense, have also being attacked with half of the building collapsed. The NYSE and the NASDAQ are closed for the day.
• Scottish Power lost 11.15% after issuing an earnings warning.
• Market research firm Taylor Nelson Sofres lost 6.07% despite reporting first half pretax profits that rose 9.1% to £17.1 million, while turnover rose 26.1% to £271.2 million. Taylor Nelson is confident of a strong second half.
• Steel company Corus Group lost 2.93% after reporting first half losses that more than doubled from £72 million last year to £195 million.
• Logistics company Hays closed lower despite reporting first half pretax profits that rose 5% to £262.1 million, while turnover rose 22% to £2.45 billion.
• The newly merged Halifax Group/Bank of Scotland (HBOS) closed 4.61% lower on their first day of trading.
• Hotel company De Vere Group gained 1.05% after confirming that there has been interest expressed in acquiring its fitness and health unit, Green™.
• Radio broadcaster Chrysalis Group lost 12.50% after issuing an earnings warning due to the tough radio advertising market. Other radio and media shares also dropped.
• British Engineering company, IMI Plc, gained 1.90% after reporting first half pretax profits that rose £2 million to £68.4 million, while turnover rose 4% to £847 million. IMI plans to concentrate on large global customers and move from high cost manufacturing to high value knowledge-based engineering and services.
• Spirent lost 0.43% after agreeing to sell its sensing solutions unit to General Electric (GE) for £152 million in cash.
• Property company Minerva gained 3.20% after reporting first half pretax profits that rose more than 600% to £6.6 million. Minerva also announced plans for a 1.1 million square feet of prime office space for the city of London.
• Battered telecom equipment maker Marconi gained 13.56% on bargain hunting.
• Amey, Friends Provident, Next, and Redrow closed lower on the eve of their earnings reports.

PICKS FOR NEXT MARKET DAY

• The US after hours market doesn't look too promising. Then again, anything is possible these days.

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Market Summary and Analysis for Friday September 7th. 2001

FTSE 250: 5860.7 = -85.4

FTSE A/S: 2461.3 = -60.1

TechMARK 100: 1366.3 = -24.6

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) closed lower for the 3rd in a row and at new lows in 3 years. Most FTSE 100 shares were also hitting lows not seen in years, again. The unexpected dramatic rise in US Unemployment Rate to 4.9% took world markets by surprise. Gainers included: Arc International, ARM Holdings, Bookham Technology, Brambles Industries, British American Tobacco, British Airways, Centrica Plc, David S. Smith Holdings, Diageo Plc, EasyJet Plc, EMI Group Plc, Greene King Plc, Hays Plc, Imperial Tobacco, Intec Telecom, IQE Plc, ITNet Plc, JD Wetherspoon Plc, Keller Group Plc, Kingfisher Plc, Lattice Group Plc, Logica Plc, Marconi Plc, Misys Plc, Northgate Information Solutions, Ockham Holdings Plc, Old English Inns, Pace Micro Tech, Parthus Technology Plc, Powergen Plc, Rank Group Plc, Rentokil Initial Plc, Scottish Power Plc, Skyepharma Plc, Spirent Plc, Telemetrix Plc, Telewest Communications Plc, Thus Plc, Trafficmaster Plc, TTP Communications, Turbo Genset Plc, Ultra Electronics Holdings, Xansa Plc, and Zen Research Plc.

REASONS FOR ACTIVITIES

• Atlantic Telecom lost 43.33% after announcing that it is trying to raise funds and could sell some of its subsidiaries to do so. Atlantic Telecom's board questioned the value of the company's shares today. Oh my!
• Marconi gained 1.74% after Moody's® cut its credit ratings to Junk (high yield) bonds status. Apparently, investors see some hope in the telecom equipment maker.
• Anglo American lost 6.85% and took mining shares down despite reporting a first half pretax profits that rose 122% - thanks to its recent acquisitions and assets sales. The mining giant however warned about the second half due to continuing weakness in Platinum and Palladium prices.
• Tobacco giant Gallaher Group lost 0.93% despite news that it will replace Halifax Group on the FTSE 100 on Monday. Halifax Group has agreed to be acquired by Bank of Scotland.
• EasyJet gained 0.61% after reporting that its August traffic rose 24% from year ago, and more travelers are now utilizing its online booking services.
• Hard Rock Cafe™ and Bingo halls operator, Rank Group, gained 5.26% after reporting first half revenue that more than tripled to £54.7 million, while sales declined 5.5% to £645.4 million.
• Allied Domecq lost 0.25% after paying $205 million for major Spanish wine maker Bodegas y Bebidas S.A. A comment from Standard & Poor's® that the rating of the drinks giant after the acquisition didn't help much.
• Go-Ahead Group lost 1.23% after reporting full year pretax profits that rose £3.37 million to £30.95 million, while passengers on its London buses rose 5% for the period.
• David S. Smith Holdings gained 2.71% after Merrill Lynch upgraded the paper sector.
• JD Wetherspoon gained 2.94% after the pub operator reported full year pretax profits that rose 23% to £44.3 million, while turnover rose 31% to £484 million. JD Wetherspoon also announced that starting today it will launch an anti-Euro currency campaign at its pubs.
• Old English Inns gained 26.38% after Greene King offered £102.6 million for it. Greene King also gained.
• Lattice Group gained on the eve of its earnings report next week. BAE Systems, Canary Wharf, Celltech Group, Friends Provident, and Next Plc., also reporting next week, closed lower.

PICKS FOR NEXT MARKET DAY

• It is too early to make a call on next week.

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