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

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Market Summary and Analysis for Friday October 19th. 2001

FTSE 250: 5391.9 = -66.8

FTSE A/S: 2406.1 = -44.4

TechMARK 100: 1322.3 = -38.7

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed lower again today. Gainers included: Allied Domecq Plc, Amvescap Plc, Anglo American, Associated British Foods, Astrazeneca Plc, BAE Systems Plc, Biocompatibles, British Telecom, BskyB Plc, Cable & Wireless, Cadbury Schweppes, Cambridge Antibody, Carlton Communications, Celltech Group Plc, Cookson Group Plc, Daily Mail & General Trust, Diagonal Plc, Eircom Plc, First Technology, Friends Provident, Gallaher Group Plc, Genetix Group Plc, Granada Plc, Gyrus Group Plc, Indigovision Group Plc, Innovation Group Plc, International Power, John Laing, Lattice Group Plc, London Bridge Software, Lynx Group Plc, Meggitt Plc, Nestle SA, Northgate Information Services, Orchestream Holdings, Pearson Plc, Powderject Pharmaceuticals, Prudential Plc, RM Plc, Rolls Royce Plc, Royalblue Group Plc, Schroders Plc, Telework Systems Plc, Thus Plc, Trafficmaster Plc, Turbo Genset Plc, Ultra Electronics Holdings, Unilever Plc, United Business Media, and Xansa Plc.

REASONS FOR ACTIVITIES

• A picture of the European economy, and indeed the world looked darker today after Germany's IFO Business Confidence Index declined from 89.5 in August to 85 in September, the lowest levels since the 1973 oil crises.
• Carlton Communications and Granada gained after the Independent Television Commission (ITC) was reported to be in support of their merger before the 2004 new legislation takes effect.
• Cadbury Schweppes gained 2.69% on upbeat comments and outlook from rival Nestle SA.
• British Telecom and Cable & Wireless gained 1.16% and 1.67% respectively after Finland telecom equipment maker Nokia reported fiscal Q3 earnings that met, and expects a stronger fiscal Q4.
• Bioglan Pharma lost 66.67% after reporting full year losses of £35.7 million, well worse than last year's £700,000. Bioglan announced that it is splitting the duties of Chairman and CEO.
• Oil shares closed lower as December Brent Crude closed at $20.80 a barrel, one of the lowest lows seen in over 2 quarters.
• Rolls Royce gained 2.04% after reiterating its full year results and announcing plans to cut 5000 jobs. Rolls Royce expects its fiscal 2002 sales to be 25% below 2001 sales.
• Astrazeneca, Debenhams, GlaxoSmithKline, and J Sainsbury closed lower on the eve of their earnings reports next week.

PICKS FOR NEXT MARKET DAY

• Earnings reports from "New Economy" companies in the UK and across the Atlantic will again influence how markets close next week. Amazon.Com is one of the most anticipated. 

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Market Summary and Analysis for Thursday October 18th. 2001

FTSE 250: 5458.7 = -91.0

FTSE A/S: 2450.5 = -41.2

TechMARK 100: 1361.0 = -57.6

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed lower today due to some high powered earning warnings. Gainers included: Acambis Plc, Allied Domecq Plc, Alltracel Pharmaceuticals Plc, Associated British Foods, Astrazeneca Plc, BAE Systems Plc, Baltimore Technology, British American Tobacco, Colt Telecom Group, Galen Holdings, Gallaher Group Plc, Gyrus Group Plc, Imperial Tobacco, Innogy Holdings, Isoft Group Plc, J Sainsbury Plc, Legal & General, London Bridge Software, Lynx Group Plc, Marks & Spencer Plc, Meggitt Plc, Ncipher Plc, Powderject Pharmaceuticals, Prudential Plc, Ricardo Plc, Royal Bank of Scotland, Royalblue Group Plc, Safeway Plc, Schroders Plc, Scottish & Newcastle, Scottish Power Plc, Smith & Nephew Plc, Telemetrix Plc, Telework Systems, Tesco Plc, Ultra Electronics Holdings, WH Smith Plc, and Wolseley Plc.

REASONS FOR ACTIVITIES

• Software shares slumped after Europe's largest software company, SAP AG, issued an earnings warning.
• IT services company CMG lost 20.60% after issuing an earnings warning for the second half, and not too sure of first half next year. CMG announced plans to cut 470 jobs and save £20 million annually.
• Defensive shares like tobacco gained today.
• Acambis gained 12.47% as the Anthrax scare spreads worldwide.
• Paladine Resources closed unchanged after announcing plans to raise £19 million in a placing and open offer so as to expand its assets and bid on Norwegian North Sea Oil and Gas leases.
• Insurance and investment giant Prudential gained 2.37% after reporting that for the 9 months ending in September, its investment and insurance sales rose 54% to £15.1 billion. Prudential also announced that its exposure to the September 11th. US terrorist attacks will be very limited.
• Lloyds of London underwriter Hiscox closed unchanged after revising its estimated losses from the US World Trade Center attacks upwards by £10 million to £30 million.
• WH Smith gained 0.22% after reporting full year pretax profits that declined 8% to £130 million, while sales rose 6% to £2.7 billion.
• Powderject Pharmaceuticals gained 0.72% after the US Food and Drug Administration (FDA) approved its preservatives-free flu vaccine, Fluvirin0™.
• Canary Wharf lost 1.05% after warning today that the economic downturn making its rounds everywhere will eventually hit the London property market and affect it too.
• Alltracel Pharmaceuticals gained 22.86% after announcing that it has commenced clinical trials for its Dental Plug.
• Oil shares declined as December Brent Crude closed below $22 a barrel.

PICKS FOR NEXT MARKET DAY

• The US after hours market looks pretty good due to good earnings from Computer Associates, Microsoft, Sun Microsystems, etc. The US Economic data releases tomorrow will have a significant influence on markets tomorrow too.
• "New Economy" related companies in the UK and across the Atlantic will influence how the week closes as they report their earnings. 

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Market Summary and Analysis for Tuesday October 16th. 2001

FTSE 250: 5475.3 = +43.0

FTSE A/S: 2437.1 = +9.2

TechMARK 100: 1354.9 = +21.4

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 all gained today. Gainers included: Abbey National Plc, AIT Group Plc, Alliance & Leicester, Amvescap Plc, Anglo American, Anite Group Plc, ARM Holdings Plc, Associated British Foods, Astrazeneca, Azlan Group Plc, BAA Plc, BAE Systems Plc, Barclays Plc, BATM Advanced Communications, BOC Group Plc, Bookham Technologies, Boots Co. Plc, British American Tobacco, British Land Co. Plc, BskyB Plc, Cable & Wireless, Cambridge Antibody, Canary Wharf, Capita Group Plc, CGNU Plc, Cobham Plc, Daily Mail & General Trust, Diageo Plc, Dimension Data Plc, Dixons Group Plc, Eidos Plc, Electrocomponent Plc, Energis Plc, Fibernet Group Plc, Friends Provident Plc, Galen Holdings, GKN Plc, GlaxoSmithKline Plc, Granada Plc, Guardian IT, GUS Plc, Hays Plc, HBOS Plc, ICI Plc, Imagination Tech, Imperial Tobacco, Indigovision Group Plc, Innovation Group Plc, Invensys Plc, IQE Plc, Isoft Group Plc, Kingfisher Plc, Lattice Group Plc, Lloyds TSB Group, London Bridge Software, London Stock Exchange (LSE) Plc, Man Group Plc, Marconi Plc, Marlborough Stirling, Misys Plc, Morse Plc, Motion Media Plc, National Grid Plc, Northgate Information Systems, Old Mutual, Orchestream Holdings Plc, Parthus Technology, Powergen Plc, Psion Plc, Reed International, Riversoft Plc, RM Plc, Royal & Sun Alliance, Royal Bank of Scotland, SA Breweries, Safeway Plc, Sage Group Plc, Schroders Plc, Schroders NV, Scipher Plc, Shell Transport & Trading, Shire Pharmaceuticals Group Plc, Smith & Nephew Plc, Smiths Group Plc, Spirent Plc, Standard Chartered Bank, Telemetrix Plc, Telewest Communications, Tempus Group Plc, Telework Group Plc, Thus Plc, Torex Plc, Torotrak Plc, Trafficmaster Plc, TTP Communications, Turbo Genset, Vodafone Group Plc, Weston Medical Plc, Whatman Plc, and Wolseley Plc.

REASONS FOR ACTIVITIES

• Marconi gained 31.40% despite a debt rating downgrade from Moody's®.
• Reuters Group lost 7.05% after reporting fiscal Q3 revenue that rose 4% to £920 million, in line with city estimates. Reuters announced that it is cutting 500 jobs and 6 pence from its full year dividends to 10 pence as it tightens its belt due to the poor global market conditions.
• Media buying company Tempus gained 0.51% after advertising giant WPP announced that it will extend its acquisition offer for it up to October 22nd. WPP lost 3.56%.
• IT services firm Morse gained 2.96% after making known that its fiscal Q1 sales declined £40 million from year ago to £111 million, due primarily to the impact the September 11th. US terrorist attacks had on its clients.
• Specialty chemicals firm Elementis lost 11.84% after issuing a financial warning for the second half of the year.
• Dimension Data gained 1.87% after announcing the acquisition of Dutch networking company, In Time Netbuilding, for about 13 Million Euros.
• Vodafone Group gained 2.40% despite an announcement from Hong Kong conglomerate Hutchison Whampoa that it is reducing its stake in Vodafone from 3.1% to 2.95%.
• Banking, Telecommunications, and Television media shares did very well today.
• The London Stock Exchange Plc. (LSE) gained 0.58% after the board of derivatives exchange LIFFE announced that the parties interested in acquiring the derivatives exchange should make their presentations at the end of the month, and should demonstrate how their offer will be good to shareholders.
• Legal & General lost 0.83% after announcing that for the 9 months ended September, its UK new business rose 29% to £516 million, but its funds business declined 6% to £9 billion. On the upside, the company announced that liability claims from the US World Trade Centre attacks will cost it about $10 million.
• Premiership club Tottenham Hotspurs lost 1.15% after reporting full year losses that widened.
• TTP Communications gained 25.59% after announcing first half revenue that rose 61% to £18.4 million, while licensing fees income more than doubled to £12.3 million. TTP Communications reaffirmed its growth target.
• British Telecom lost 1.95% after announcing today the dissolving of its Concert joint venture with AT&T. As part of the dissolution, British Telecom will take a £1.2 billion charge in the current quarter.

PICKS FOR NEXT MARKET DAY

• The US after hours market is strong due to "acceptable" earnings from IBM, Intel, RealNetworks, etc.
• "New Economy" related companies in the UK and across the Atlantic will influence how the week closes as they report their earnings. 

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 October 15th. 2001

FTSE 250: 5432.3 = -18.6

FTSE A/S: 2427.9 = -33.1

TechMARK 100: 1333.5 = +0.4

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 closed lower, while the TechMARK 100 gained. Gainers included: Acambis Plc, Allied Domecq Plc, ARM Holdings Plc, Associated British Foods, Autonomy Corp, Baltimore Technologies, BATM Advanced Communications, BHP Billiton, Brambles Industries Plc, Cambridge Antibody, Capita Group Plc, Egg Plc, Eidos Plc, Fibernet Group Plc, Filtronic Plc, First Technology Plc, GKN Plc, Guardian IT, Imperial Tobacco, Innovation Group Plc, Intec Telecom Plc, Invensys Plc, Isoft Group Plc, Kidde Plc, London Bridge Software, Marconi Plc, Marlborough Stirling, Medisys Plc, Meggitt Plc, Parthus Technology, Powergen Plc, Project Telecom Plc, Reckitt Benckiser Plc, Rio Tinto Plc, Riversoft Plc, RM Plc, Sage Group Plc, Scipher Plc, Scottish Power, Shire Pharmaceuticals Group Plc, Skyepharma Plc, Smith & Nephew Plc, Spectris Plc, Telemetrix Plc, Torex Plc, Trafficmaster Plc, TTP Communications, United Business Media, Vodafone Group Plc, Weston Medical Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• Marconi gained 12.94% after reporting fiscal Q2 earnings that were a break even, in line with its previous guidance.
• Financial services shares were under pressure today again, and Unilever's $188 million lawsuit against Merrill Lynch over pension funds mismanagement didn't help either.
• Acambis gained as the US Anthrax scares reached the office of US Senate Majority Leader Tom Daschle.
• Rolls Royce lost 5.61% on weekend press speculation that the Aerospace engineering giant will likely issue an earnings warning and cut about 3,500 jobs due to its poor market conditions after the Seðtember 11th. US terrorist attacks. Rolls Royce has already placed its car manufacturing unit under a 3-day week.
• Oil Shares closed lower as November Brent Crude declined 6 cents to close at $21.67 a barrel. In a Separate development, the OPEC Secretary General Ali Rodriguez told BBC Radio today that the cartel might meet earlier than its November 14th. planned meeting as prices keep declining below its desired $25 a barrel.
• The London Stock Exchange Plc. (LSE) closed unchanged on news that the board of derivatives exchange LIFFE, will meet on Tuesday to consider the competing takeover bids from LSE and the Pan-European exchanges group, Euronext.
• Chip designer ARM Holdings gained 3.26% after reporting fiscal Q3 pretax profits of £12.9 million, while over the year revenue rose a whopping 46% over the year to £37.6 million, and 4% from fiscal Q2 of this year. Licensing revenue rose to 58% of total revenue to £21.8 million. ARM Holdings is expecting a strong fiscal Q4, due mostly to an optimistic Smart Card™ sales.
• Online banker Egg Plc. gained 2.80% on the eve of its trading statement.
• Reuter Group lost 3.84% on the eve of its earnings report, while homebuilder Bellway closed unchanged.

PICKS FOR NEXT MARKET DAY

• "New Economy" related companies in the UK and across the Atlantic will influence how the week closes as they report their earnings. The US after hours market doesn't look 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 Friday October 12th. 2001

FTSE 250: 5450.9 = +46.8

FTSE A/S: 2461.0 = -5.0

TechMARK 100: 1333.1 = +5.4

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 closed lower, while the TechMARK staged a late rally to close higher. Gainers included: Acambis Plc, Allied Domecq Plc, Anglo American, Anite Group Plc, Astrazeneca Plc, Axis Shield Plc, BAA Plc, Baltimore Technologies, Barclays Plc, BATM Advanced Communications, BHP Billiton, BOC Group Plc, BP Amoco Plc, British Airways, British Land Co. Plc, Cable & Wireless Plc, Cadbury Schweppes, Cambridge Antibody, Celltech Group Plc, Colt Telecom, Compass Group Plc, Computacenter Plc, Cookson Group Plc, Diageo Plc, Diagonal Plc, Eidos Plc, Emblaze Systems, EMI Group Plc, Energis Plc, Enterprise Oil, First Technology, Galen Holdings, GKN Plc, Guardian IT, GUS Plc, Hanson Plc, HBOS Plc, Indigovision Group Plc, Innovation Group, International Power, Isoft Group Plc, J Sainsbury Plc, Kidde Plc, Kingfisher Plc, Kingston Communications, KS Biomedix Holdings, Logica Plc, London Bridge Software, Man Group Plc, Marconi Plc, Marks & Spencer, Marlborough Stirling, Medisys Plc, Morse Plc, Morrison Supermarket, Motion Media, National Grid, Ncipher Plc, Northgate Information Services, Northern Rock Plc, Pace Micro Tech, Project Telecom Plc, RM Plc, Rolls Royce Plc, SA Breweries, Safeway Plc, Schroders Plc, Schroders NV, Scipher Plc, Scottish & Newcastle Plc, Scottish & Southern Energy, Scottish Power, Severn Trent Plc, Shell Transport & Trading, Shire Pharmaceuticals Group Plc, Smiths Group Plc, Sotheby's Plc, Spirent Plc, Telework Systems, Tesco Plc, Torotrak Plc, TTP Communications, Turbo Genset Plc, United Utilities Plc, Wolseley Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• Marconi gained 48.52% on rumours that its trading statement Monday will include a new refinancing package that will include a debt buyback plan. Fund manager David Lis of Norwich Union UK Equity & Growth funds, thinks the company will be one of the hot shares as we emerge from this bear market.
• Banking shares closed lower after Merrill Lynch downgraded Barclays, HBOS, and Royal Bank of Scotland to "accumulate".
• Networking and telecom equipment makers were hot today due to an earnings report from Juniper Networks yesterday that tend to suggest the sectors might be turning.
• Shire Pharmaceuticals Group gained 2.38% after stating that the US Food and Drug Administration (FDA) approved its Attention Deficit-Hyperactivity Disorder drug, Adderall™.
• National Grid gained 5.96% after making the trading statement that its US based Niagara Mohawk unit will account for 60% of its profit, and help it save £40 million annually. National Grid also stated it will meet its investment targets by 2005.
• British telecom lost 0.66% on news that its CEO, Sir Peter Bonfield, may resign after its restructuring is completed.
• Auctioneer Sotheby's gained 4.76% after announcing plans to cut 14% of its staff and save about $50 million annually. Sotheby's also announced that it will take a $13 million charge for its action.
• Acambis gained 1.66% after an Anthrax scare in New York City re-ignites optimism that the US government might place more orders for its Smallpox Vaccines.
• Insurer CGNU lost 4.52% after Dresdner Kleinwort Wasserstein downgraded it to "neutral".
• Media shares joined financial services shares as some of the hardest hit today.

PICKS FOR NEXT MARKET DAY

• Anything is possible next week as more online related shares report their earnings across the Atlantic.

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 October 11th. 2001

FTSE 250: 5404.1 = +128.2

FTSE A/S: 2466.0 = +13.5

TechMARK 100: 1327.7 = +33.0

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) rallied again today. Gainers included: 3i Plc, Abbey National, Airtours Plc, AIT Group Plc, Amersham Plc, Amvescap Plc, Anglo American, Argonaut Games Plc, BAA Plc, Baltimore Technologies, Barclays Plc, BATM Advanced Communications, BHP Billiton Plc, British Airways Plc, British Biotech, British Land Co. Plc, BskyB Plc, BTG Group Plc, Cambridge Antibody, Carlton Communications, Celltech Group Plc, Colt Telecom, Computacenter Plc, Cookson Group Plc, Cordiant Communications, Daily Mail & General Trust, DFS Furniture Plc, Eidos Plc, Emblaze Systems, Euromoney Institutional Investors, Friends Provident, Galen Holdings, Granada Plc, Guardian IT, GUS Plc, Hays Plc, HBOS Plc, HSBC Holdings, ICI Plc, Imagination Technology, Invensys Plc, Isoft Group Plc, ITNet Plc, Kingfisher Plc, Kingston Communications, Legal & General, Logica Plc, Lloyds TSB, London Bridge Software, London Stock Exchange (LSE) Plc, Marconi Plc, Marks & Spencer, Marlborough Stirling, Morse Plc, Morrison Supermarket, Motion Media, Ncipher Plc, Old Mutual, Pace Micro Tech, Parthus Technology, Pearson Plc, Powderject Pharmaceuticals Plc, Psion Plc, Reed International Plc, Reuters Group Plc, Ricardo Plc, Rio Tinto Plc, Royal & Sun Alliance, Royal Bank of Scotland, Sage Group Plc, Schroders Plc, Schroders NV, Scipher Plc, Shire Pharmaceuticals Group Plc, Skyepharma Plc, Spirent Plc, Standard Chartered Bank, Tesco Plc, Torotrak Plc, Trafficmaster Plc, TTP Communications, United Business Media, Whatman Plc, Wolseley Plc, WPP Group Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• The European Central bank (ECB) left its benchmark Interest rates unchanged at 3.75%.
• DFS Furniture gained 3.07% after reporting strong full year reports, and stating a good outlook.
• Airports operator BAA Plc. gained 2.35% after announcing that for September, traffic at its 7 airports declined 6% to 11.2 million. BAA also announced that it is selling its World Duty Free Americas operations to US-based Duty Free Acquisitions Corp. for £84 million.
• London Stock Exchange Plc. (LSE) gained 1.22% despite news by the Pan-European exchange, Euronext that, its board is meeting to see if can make a counter offer for LIFFE, the derivatives exchange that the LSE has made an offer for.
• Rolls Royce closed unchanged after announcing that, its 800 staff that produces its Bently and Rolls Royce motors, are going on a 3-day week schedule due to a 60% drop in sales of the luxury cars in the US after the September 11th. terrorist attacks.
• Media shares gained after News Corp CEO Rupert Murdoch stated that advertising bookings on its TV systems in the past week have risen stronger than the last few months. BskyB, which is majority owned by News Corp, gained 6.52%.
• GUS gained 4.32% after reporting that global sales at its Experian Stores rose 4% in the first half of this year, while the Burberry Fashion unit have suffered recently due to the US terrorist attacks. GUS made known that it is still on track to list its Burberry Fashion unit on June 2002.
• Celltech Group gained 10.31% after Commerzbank upgraded it to a "buy".
• Software and financial services shares were hot today.
• Games developer Argonaut Games gained 15.48% after reporting full year earnings that were in line with city estimates, and a turnover that was unchanged at £4.4 million. Argonaut is very optimistic about the Harry Potter™ games. Argonaut Games also stated that at the end of the year, it had £13 million in cash.
• Royal & Sun Alliance gained 3.65% after announcing that its losses from the US World Trade Center attacks will be around £200 million, about £50 million higher than it previously thought.

PICKS FOR NEXT MARKET DAY

• The US after hours market looks okay, and as such, we are expecting yet another rally tomorrow too.

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

<---D194--->

Market Summary and Analysis for Wednesday October 10th. 2001

FTSE 250: 5275.9 = +69.1

FTSE A/S: 2452.5 = +63.1

TechMARK 100: 1294.7 = +36.9

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) rose to close at pre-US Terrorist attacks today. Gainers included: Abbey National, AEA Technology, Air Partner Plc, Alliance & Leicester, Alphameric Plc, Amersham Plc, Amvescap Plc, Anglo American, ARM Holdings, Autonomy Corp, Astrazeneca Plc, Baltimore Technologies, Barclays Plc, BHP Billiton Plc, Biotrace International, BOC Group Plc, BP Amoco Plc, Brambles Industries, British Airways Plc, British Telecom Plc, BskyB Plc, BTG Group Plc, Cable & Wireless, Carlton Communications, Emblaze Systems, Enterprise Oil Plc, Fibernet Group Plc, GlaxoSmithKline, Hays Plc, HBOS Plc, Hilton Group Plc, Homestyle Group Plc, HSBC Holdings, ICI Plc, Incepta Group Plc, Imagination Technology, Informa Group Plc, Innogy Holdings, Kingfisher Plc, Kingston Communications, Legal & General, Lloyds TSB, Man Group Plc, Misys Plc, Next Plc, Old Mutual, Pace Micro Tech, Parthus Technology, Pearson Plc, Powderject Pharmaceuticals Plc, Prudential Plc, Psion Plc, Reed International Plc, Retail Decisions Plc, Reuters Group Plc, Rio Tinto Plc, Royal Bank of Scotland, Sage Group Plc, Schroders Plc, Severn Trent Plc, Shell Transport & Trading, Six Continents Plc, Skyepharma Plc, Spirent Plc, Standard Chartered Bank, Taylor Nelson Sofres Plc, Telewest Communications, Thus Plc, Torotrak Plc, Trafficmaster Plc, TTP Communications, Unilever Plc, Whatman Plc, WPP Group Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• Enterprise Oil gained 6.95% after Sam Laidlaw was named the new CEO who will succeed Pierre Jungles effective November.
• Software developer Sage Group gained 12.68% after stating that it expects to meet full year financial targets, despite a struggling US sector due to the September 11th. terrorist attacks.
• Xenova Group lost 16.67% after GlaxoSmithKline withdrew from their co-development partnership for developing a genital herpes treatment after the treatment failed in clinical trials.
• Homestyle Group gained 0.84% after reporting first half pretax profits that were unchanged, while sales rose 74%. Since September, Homestyle reported that sales have risen 23% already.
• Internet security firm Baltimore Technologies gained 14.29% after announcing that Bijan Khezri will be its new CEO. Baltimore Technologies also announced that fiscal Q3 revenue will decline by £4.9 million to £15 million. Baltimore announced that some suitors have shown interest in its Content Security unit.
• Credit card fraud prevention services company Retail Decisions gained 22.81% after announcing an alliance with Total System Services to combat credit card fraud in the corporate market.
• British American Tobacco and Diageo lost 3.55% and 2.35% respectively after Deutsche Bank downgraded them from "buy" to "market perform".
• Logica lost 2.85% on a Goldman Sachs downgrade to "market perform".
• British Airways gained 6.15% after the European Commission agreed to some limited aid to the Airlines in these trying times.
• Software developer Autonomy gained despite warning that fiscal Q3 results will be below estimates.
• Biotrace International gained 10.14% as the Anthrax scare in the US sparks interest in testing kits suppliers.
• Skyepharma gained 9.77% after announcing that the US Food and Drug Administration (FDA) approved its Uroxatral™, its benign prostatic hyperplasia drug.
• Incepta Group gained 1.79% after reporting first half pretax profits that rose 3% to £14.6 million, while turnover rose 29% to £146.5 million.
• Oil shares gained on rumours that OPEC might cut its crude production.

PICKS FOR NEXT MARKET DAY

• The US after hours market looks okay, and as such, we are expecting another rally tomorrow too.

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

<---D193--->

Market Summary and Analysis for Tuesday October 9th. 2001

FTSE 250: 5206.8 = +24.1

FTSE A/S: 2389.3 = -7.6

TechMARK 100: 1257.8 = +22.2

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 closed lower, while the TechMARK 100 technology index closed higher again. Gainers included: Acambis Plc, AEA Technology, AIT Group Plc, Alliance & Leicester, Alphameric Plc, Amersham Plc, Amvescap Plc, Arc International, Autonomy Corp, Azlan Group Plc, Barclays Plc, BATM Advanced Systems, BOC Group Plc, Bookham Technology, Boots Co. Plc, BP Amoco Plc, British Biotech Plc, British Land Co. Plc, BskyB Plc, BTG Group Plc, Capita Group Plc, Carlton Communications, Centrica Plc, CMG Plc, Cobham Plc, Colt Telecom Plc, Compass Group Plc, Cookson Group Plc, Dixons Group Plc, Eidos Plc, Electrocomponent Plc, Emblaze Systems, EMI Group Plc, Energis Plc, Expro International Group Plc, Fibernet Group Plc, Fusion Oil & Gas Plc, Granada Plc, GUS Plc, Hays Plc, HBOS Plc, Hilton Group Plc, Homestyle Group Plc, ICI Plc, Imagination Technology, Innogy Holdings, Innovation Group Plc, Intec Telecom Plc, International Power, J Sainsbury Plc, Kingfisher Plc, Kingston Communications, Logica Plc, London Pacific Plc, Marconi Plc, Macro 4 Plus Plc, Marks & Spencer, Misys Plc, Morrison Supermarket, National Grid, Northern Rock Plc, Pace Micro Tech, Parthus Technology, Powderject Pharmaceuticals Plc, Psion Plc, Reed International Plc, Reuters Group Plc, Royal & Sun Alliance, Schroders Plc, Schroders NV, Scottish Power Plc, Severn Trent Plc, Spirent Plc, Standard Chartered Bank, Telewest Communications, Thus Plc, Torotrak Plc, Trafficmaster Plc, TTP Communications, Unilever Plc, United Business Media Plc, Whatman Plc, WPP Group Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• Railtrack announced today that it will fight the UK government's attempts to kill it off by suing HSBC Holdings to so as to have access to £351 million in cash now frozen. HSBC Holdings lost 0.88%.
• British Airways lost 4.63% after announcing plans to cut employee costs like bonuses for 36,000 of its UK employees so as to save £37 million. The Unions intend to fight.
• BHP Billiton lost 0.09% on news that the South African Mineworkers union will start a strike on Thursday at Ferrochrome plants owned by its subsidiary, Samancor.
• Marks & Spencer (M&S) gained 9.84% after reporting that for the 12 weeks ending September 29th, group sales were up 2.8%, while same-store sales rose 2.1%. UBS Warburg and Merrill Lynch both upgraded M&S to a "hold" and "accumulate" respectively.
• Irish chip company Parthus gained 12.22% after announcing that it has developed a new Global Positioning System (GPS) chip that can penetrate through thick walls, thus enabling pinpoint locations even on the floors of buildings. Parthus also announced that it has already licensed the chip to major technology companies.
• Marconi, which lost yesterday on weekend press reports that it might have lost about £200 million on a share hedging scheme, today gained 0.60% after announcing that it is replacing its financial services and Public Relations advisers. Marconi is scheduled to make a trading statement on October 15th.
• Homestyle Group and Fusion Oil & Gas gained on the eve of their earnings reports.

PICKS FOR NEXT MARKET DAY

• The US after hours market looks very good.

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

<---D192--->

Market Summary and Analysis for Monday October 8th. 2001

FTSE 250: 5182.7 = -53.0

FTSE A/S: 2396.9 = -4.7

TechMARK 100: 1235.7 = +13.2

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 closed lower, while the TechMARK 100 technology index closed higher. Gainers included: Acambis Plc, AIT Group Plc, Allied Domecq, Anite Group Plc, Argonaut Games Plc, ARM Holdings Plc, Autonomy Corp, BAA Plc, BAE Systems Plc, BATM Advanced Systems, Biocompatibles Plc, BOC Group Plc, Boosey & Hawkes Plc, Boots Co. Plc, BP Amoco Plc, British Airways, British Telecom, BTG Plc, Capita Group Plc, Carlton Communications, CMG Plc, Colt Telecom Plc, Eidos Plc, Energis Plc, Expro International Group Plc, Genetix Group Plc, GlaxoSmithKline Plc, Granada Plc, ICI Plc, Invensys Plc, Kingfisher Plc, Kingston Communications, Macro 4 Plus Plc, Marlborough Stirling Plc, Medisys Plc, Next Plc, Orange Plc, Reuters Group Plc, Royalblue Group Plc, Rugby Estates Plc, Sage Group Plc, Shell Transport & Trading, Shire Pharmaceuticals Group Plc, Spirent Plc, Telewest Communications, Trafficmaster Plc, Vodafone Group Plc, Weston Medical Plc, Whatman Plc, WPP Group Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• Railtrack lost 0.36% as investors became furious that the UK government couldn't bail the company, or indeed the industry, out as was done to the airline industry, but rather pushed it into administration over the weekend.
• British Airways gained 4.52% as analysts predict the UK/US retaliatory attacks on Afghanistan will affect Western travel in the short term only.
• Financial services firms were hit today as concerns about bad debts continue to mount.
• Oil related shares gained after the November Brent Crude rose 18 cents to $21.81/barrel.
• Engineering company Senior Plc. lost 25% after announcing that the September 11th. US terrorist attacks have affected it in the short term. Senior announced plans to cut jobs and review its end of dividend payment plans.
• Telecom equipment maker Marconi lost 6.36% after the weekend press reported that the troubled company might have lost up to £200 million in a share price hedging scheme. Oh dear!
• Mobile phone operator Orange gained 2.09% after announcing that for Q3, it added 321,000 new customers in the UK. In the past 12 months, Orange reported that its customer base rose 41% to 37 million, and it ranks #1 in active customers.
• Chip designer ARM Holdings gained 7.86% and help lead the tech sector higher.
• Insurance shares closed lower on concerns that the joint UK/US military retaliation might force terrorists to attack back and cost them more.
• Music publisher and instrument maker Boosey & Hawkes gained 46.86% after confirming a Sunday Telegraph story that, it has had a bid approach and they expect it to lead to an offer. The Sunday Telegraph reported that equity group Graphite Capital is teaming up with Music Sales Group to offer £50 million for the company.
• Argonaut Games and Rugby Estates gained on the eve of their earnings reports.

PICKS FOR NEXT MARKET DAY

• We expect this week to be mixed, as some Online media giants like Yahoo! report their earnings and give a clearer view on the state of advertising. The UK/US retaliatory attacks will be a major factor for the week too.

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Market Summary and Analysis for Friday October 5th. 2001

FTSE 250: 5235.7 = +42.6

FTSE A/S: 2401.6 = +10.5

TechMARK 100: 1222.4 = +2.3

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) rallied for the 4th day in a row to close the week higher. Gainers included: Abbey National, Acambis Plc, Alphameric Plc, Astrazeneca Plc, Atlantic Telecom Plc, Azlan Group Plc, BAA Plc, BAE Systems Plc, BATM Advanced Systems, Biocompatibles Plc, British Telecom, BskyB Plc, Cable & Wireless Plc, Cadbury Schweppes