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

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Market Summary and Analysis for Friday December 14th. 2001

FTSE 250: 5806.3 = -18.5

FTSE A/S: 2453.6 = -6.9

TechMARK 100: 1443.5 = -17.9

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed this dreadful week with a 5th. day lost. Gainers included: 3i Group Plc, Abbey National, Acambis Plc, AIT Group Plc, Alphameric Plc, Anglo American Plc, Azlan Group Plc, BAE Systems, Barclays Plc, BG Group Plc, Biocompatibles, Bookham Technology, British Biotech Plc, BT Group Plc, Cambridge Antibody, Celltech Group Plc, Centrica Plc, Compass Group Plc, Daily Mail & General Trust, Eidos Plc, Electrocomponents Plc, EMI Group Plc, Filtronic Plc, Gallaher Group Plc, Genetix Group Plc, George Wimpey Plc, Hanson Plc, Hilton Group Plc, HSBC Holdings, ICI Plc, Imagination Technology, Imperial Tobacco, Innogy Holdings, Invensys Plc, Kingfisher Plc, Kingston Communications, Land Securities, Lattice Group Plc, Marlborough Sterling Plc, meggitt Plc, Merant Plc, Misys Plc, Ncipher Plc, Next Plc, Northern Rock Plc, Northgate Information Services, Orchestream Holdings, Oxford Glycosciences, Pace Micro Tech, Powergen Plc, Renishaw Plc, Rentokil Initial Plc, Rexam Plc, Riversoft Plc, Rolls Royce Plc, Roxboro Group Plc, Royal Bank of Scotland, Scipher Plc, Severn Trent Plc, Six Continents Plc, Skyepharma Plc, Smith & Nephew Plc, Smiths Group Plc, Standard Chartered Bank, Thus Plc, Torotrak Plc, Telewest Communications, Telework Systems, and Xansa Plc.

REASONS FOR ACTIVITIES

• Diageo lost despite signing an agreement with the NBC television network of the US to resume liquor advertisement on television after decades of TV industry safe imposed restriction.
• Railtrak administrators today announced major executive and board changes. The CEO and Chairman of Railtrak are being replaced. Former British Rail executive Alan Armitt was named the new CEO, and former British Rail executive John Cornell was named to the board. The Replacement for the chairman is yet to be announced.
• Rolls Royce gained 0.46% after announcing that its expects to make about $500 million in revenue from Brazil's Embrear Aircraft SA. sale of aircraft to Chicago based charter airline, Indigo.
• Smiths Group gained 0.15% after reassuring the market that despite over 140,000 asbestos claims against its subsidiary, John Crane, an adjustment in its financial data will not be needed.
• Oil and drug shares pulled the FTSE 100 down. Banking shares did a little better.
• South African based shares like Dimension Data, SA Breweries, and Old Mutual closed lowered after the South African currency, the Rand, went into a freefall against major world currencies today.
• Chip designer ARM Holdings lost 1.46% despite settling a patent lawsuit with privately held US based rival, PicoTurbo. The settlement seems to favour ARM.
• Utilities shares closed lower after Moody's Investor Services cut the credit rating of California based energy company Calpine to junk bonds status. Calpine has been under pressure recently after a Sunday New York Times article had doubts about its accounting and earnings reporting practices. Moody's also downgraded Dynegy's debts to one step above junk status.
• Media shares closed lower on concerns that United Business Media will take a £60 million charge this year. United Business Media closed 10.98% lower.

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PICKS FOR NEXT MARKET DAY

• Anything is possible next week.

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Market Summary and Analysis for Thursday December 13th. 2001

FTSE 250: 5824.8 = -79.0

FTSE A/S: 2460.5 = -23.5

TechMARK 100: 1461.4 = -60.8

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed lower for the 4th. day in a row, and at its lowest level in 6 weeks. Earnings warnings and US Retail Sales data didn't help either. Gainers included: Abbey National, Aggregate Industries, Airtours Plc, Alliance & Leicester, Alfred McAlpine Plc, Boots Co. Plc, BP Amoco Plc, De Vere Group Plc, Diagonal Plc, Enodis Plc, GlaxoSmithKline, Innogy Holdings, Intec Telecom, International Power, J Sainsbury, Lloyds TSB, Manchester United FC, Marks & Spencer Plc, Medisys Plc, Meggitt Plc, Ncipher Plc, Northern Rock Plc, NSB Retail Systems, Powergen Plc, Radio First Plc, Rank Group Plc, Redstone Plc, Renishaw Plc, Rolls Royce Plc, Scoot.Com, Scottish Power, Screen Plc, Selfridges Plc, Serco Group Plc, Sherwood International, Shire Pharmaceuticals Plc, Stagecoach Group Plc, Stream Group Plc, Telecity Plc, Telemetrix Plc, Tempus Group Plc, Tesco Plc, Torex Plc, Ultra Electronics Holdings Plc, UKBetting, and Whatman Plc.

REASONS FOR ACTIVITIES

• UK Retail Sales numbers improved in November, thus helping retail shares to gain.
• Logica lost 15.06% and took the tech sector down after warning about declining UK computer services sales and declining revenue in the telecom sector. ABN AMRO downgraded Logica to a "hold".
• Utilities gained on reassurance that the US utility company, Calpine, might not go the way of Enron .
• Worst than expected US Retail Sales data, earnings warnings from Lucent Technologies, etc. caused a ripple around the world markets.
• Daily Mail & Trust lost 0.31% despite announcing that it will meet full year outlook.
• British Airways lost 6.51% on news that it will join Lufthansa of Germany to bid for Swiss Air's stake in Polish national airline, LOT. Investors are wondering where the money will come from. On another note, British Airways' discount subsidiary Go™, announced that it will cease operating its Edinburgh and Glasgow flights to Dublin by March of next year. On another front, a member of the US upper house, Senator Ernest Hollins, who is also the chair of the commerce subcommittee, is requesting that the British Airways/American Airlines alliance ruling be delayed.
• Online banker Egg lost 3.90% despite reporting its first ever profit in November. Egg also added 569,000 new members for the year up to December 10th, which now puts total customer base at 1.92 million.
• BskyB lost 6.69% after Vivendi Universal announced that it is selling a chunk of its 22% stake in the pay TV operator at below market value so as to bid on assets of USA Networks.
• Capita Group lost 0.64% despite announcing a 10 year, £500 million contract with BBC.
• Psion lost 2.45% despite announcing that it will meet 2001 sales and earnings estimates, and that its Symbian unit is about to go for another round of financing.

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PICKS FOR NEXT MARKET DAY

• Unless economic data lifts up the markets tomorrow, everything will be a repeat of today. Bristol Myers Squibb, Adobe Systems, and Calpine are just a few of major US companies losing in after hours due to disappointing earnings, lowered estimates, credit problems, etc.

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Market Summary and Analysis for Wednesday December 12th. 2001

FTSE 250: 5903.8 = -68.3

FTSE A/S: 2483.9 = -20.6

TechMARK 100: 1522.2 = -38.8

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed lower for the Third day in a row. Apparently the market wasn't impressed with the US Federal Reserve interest rate cuts yesterday. Gainers included: Affinity Internet, AIT Group Plc, Avesco Plc, AWG Red Plc, BAE Systems, Belhaven Brewery Plc, Bioglan Pharmaceuticals, British American Tobacco, British Energy Plc, British Land Co. Plc, Cedar Plc, CMG Plc, Compass Group Plc, Corus Group Plc, Debenhams Plc, Electrocomponents Plc, EMI Group Plc, First Technology, Friends Provident Plc, Gallaher Group Plc, Granada Plc, Hays Plc, Horizon Technology Group Plc, Imperial Tobacco, Inchcape Plc, Legendary Investments, London Bridge Software, Man Group Plc, Marconi Plc, Marks & Spencer Plc, Ncipher Plc, OneSaturday Plc, Orange SA, P&O Princess Cruise Line, Phytopharm, Planit Holdings Plc, Powergen Plc, Reckitt Benckiser Plc, Redbus Interhouse, Renishaw Plc, Rentokil Initial Plc, Richards Plc, Royal Bank of Scotland, Royalblue Group Plc, SA Breweries, Safeway Plc, Scipher Plc, Scottish & Newcastle Plc, Six Continents Plc, Skyepharma Plc, Stockbourne Plc, Surfcontrol Plc, Telemtrix Plc, Tesco Plc, Unilever Plc, Whatman Plc, Wolseley Plc, and WPP Group Plc.

REASONS FOR ACTIVITIES

• The UK Unemployment Rate edged up slightly higher to 3.2%. The UK Unemployment Rate is still lower than its developed countries counterparts.
• Marks & Spencer gained 3.09% after opening its first store in India.
• Drug shares were pulled lower after US based Merck & Co. issued an earnings warning, and expects a poor future.
• Marconi gained 5.16% after announcing plans to roll out multimedia payphones in conjunction with BT Group.
• BT Group lost 1.82% after announcing that beginning February 1st, Ben Verwaayen, former head of Dutch telecommunications giant KPN, and currently the Vice Chairman of Lucent Technologies of the US, will replace Sir Peter Bonfield as CEO of BT Group.
• P&O Princess Cruise Line gained 2.62% as it is set to replace GKN in the FTSE 100™ at the next shuffle. GKN lost 0.35%.
• Mortgage banker Bradford and Bingley lost 3.80% despite stating that it will meet its results for the 6 months ending December 31st. Bradford & Bingley also announced that, it is comfortable with city estimates for the full year.
• Game developer Eidos lost 14.45% after reporting first half losses that narrowed to £27.4 million, while turnover declined £23.3 million over the year to £31 million.

• Debenhams gained 5.49% after announcing that its trading has improved significantly since its October update.

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PICKS FOR NEXT MARKET DAY

• We think the markets have the potential to close lower tomorrow too, due to dismal earnings outlook from US heavyweights like American Express and Applied Materials. Then again, this market can easily ignore the cross Atlantic conditions and stage its first increase for the week.

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Market Summary and Analysis for Tuesday December 11th. 2001

FTSE 250: 5972.1 = -22.5

FTSE A/S: 2504.5 = -11.6

TechMARK 100: 1561.0 = -3.4

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed lower for the second day in a row. Gainers included: .

REASONS FOR ACTIVITIES

• AFTER CLOSE: The Federal Reserve FOMC cut US interest rates by 25 basis points (0.25%).

• APOLOGY: Due to problems beyond our control, we won't have our detailed column today, but will return to normal tomorrow.

• NEW SERVICES: We now have operations in these countries: Australia, Canada, South Africa, UK & Ireland, and United States . Please take full advantage of our wonderful services.

PICKS FOR NEXT MARKET DAY

• We expect the markets to pick up tomorrow.

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 December 10th. 2001

FTSE 250: 5994.6 = -65.3

FTSE A/S: 2516.1 = -36.2

TechMARK 100: 1564.4 = -34.9

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed lower as all markets worldwide await the US Federal Reserve FOMC interest rate decision tomorrow. Gainers included: Abbey National Plc, Airtours Plc, AIT Group Plc, Amec Plc, Anite Group Plc, Berkeley Group Plc, Biocompatibles Plc, Bioglan Pharmaceuticals Plc, Bodycote International Plc, British Airways Plc, Capital Radio Plc, Carpetright Plc, Chrysalis Group Plc, CMG Plc, Cookson Group Plc, Eidos Plc, Filtronic Plc, First Choice Holidays Plc, Galen Holdings Plc, Imagination Technology, Imperial Tobacco Plc, Innogy Holdings Plc, Innovation Group Plc, International Power Plc, KS Biomedix Plc, Orchestream Holdings, Oxford Glycosciences, Redstone Plc, Regus Plc, Retail Decisions Plc, Scoot.Com Plc, Scottish Power Plc, Severn Trent Plc, Surfcontrol Plc, Telecity Plc, Trafficmaster Plc, and Whatman Plc.

REASONS FOR ACTIVITIES

• Cable & Wireless lost 0.85% after paying £7.2 million to acquire PSINet's web hosting business in Japan.
• Aggreko lost 18.60% despite reassuring investors about its future outlook. Merrill Lynch downgraded the shares to a "sell".
• Rolls Royce lost 2.40% despite announcing that it won a £360 million contract with the Royal Navy to service its Submarine flotilla.
• NTL closed unchanged after announcing that it is cutting 2,100 jobs, freezing pay at management levels, and re-evaluating all consulting work.
• Colt Telecom lost 7.57% despite raising £494 million through a rights issue so as to be prepared for the coming year(s).
• Fibre Optic shares like Marconi closed lower after JDS Uniphase of Canada warned about sales in the coming quarter, and doesn't expect much improvement in 2002.
• British Airways gained 2.01% after announcing that it is in talks to sell its Boeing 767s to a consortium that has a contract to supply the Royal Air Force with in-flight re-fuelling tankers.
• Major newspaper publisher Trinity Mirror lost 3.43% and pulled media shares down after painting a bleak advertisement picture up to all of 2002.
• Parthus Technology closed unchanged after announcing plans to cut 29 jobs to bring its global workforce to about 399. Parthus is cutting 1 job in Asia, 8 each in mainland Europe and the US, and 12 in Ireland.

• Carpetright and First Choice Holidays gained on the eve of their earnings reports, while Compass Group closed lower.

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PICKS FOR NEXT MARKET DAY

• All eyes are on the US Federal Reserve FOMC meeting tomorrow.

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Market Summary and Analysis for Friday December 7th. 2001

FTSE 250: 6059.9 = -14.4

FTSE A/S: 2552.4 = -43.5

TechMARK 100: 1599.3 = -5.2

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed this amazingly strong week lower. The increase in US Unemployment Rate to 5.7% didn't help either. Gainers included: AEA Technology Plc, Aggregate Industries Plc, AIT Group Plc, Alphameric Plc, Anite Group Plc, Autonomy Corp, Azlan Group Plc, BAE Systems Plc, BHP Billiton Plc, Biocompatibles, Brambles Industries, BT Group Plc, Cambridge Antibody, Celltech Group Plc, Computacenter Plc, Diagonal Plc, Easyjet Plc, EMI Group Plc, Fibernet Group Plc, Filtronic Plc, Friends Provident Plc, Genetix Group Plc, Guardian IT Plc, Gyrus Group Plc, Imagination Technology, Innovation Group Plc, IQE Plc, Kingston Communications Plc, London Bridge Software, Lynx Group Plc, Marconi Plc, Marlborough Sterling Plc, Meggitt Plc, Merant Plc, Morse Plc, Next Plc, National Grid Plc, Ncipher Plc, Northgate Information Services, Oxford Glycosciences, Pearson Plc, Psion Plc, RM Plc, Rolls Royce Plc, Roxboro Group Plc, Royalblue Group Plc, SA Breweries Plc, Sage Group Plc, Schroders Plc, Scipher Plc, Shire Pharmaceuticals Group Plc, Spectris Plc, Spirent Plc, Surfcontrol Plc, Telemetrix Plc, Telewest Communications, Thus Plc, Torex Plc, Ultra Electronics Holdings, Whatman Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• Powderject Pharmaceuticals closed lower after Hepatitis Vaccines, one of the products used with its syringes, was recalled.
• RTL closed unchanged after reporting that its television advertisement market in Germany, Great Britain, and France will declined 10% over the year. Pearson, which owns 22% of RTL, gained 0.28%.
• SA Breweries gained 3.31% after floating £250 million worth of shares to pay for its 97% stake in Hunduras' lone brewer, Cerveceria Hundurena.
• Oil shares and prices closed lower and pulled down the FTSE 100 as it becomes clear to analysts that, an OPEC and Non-OPEC production cut will be a little too late to stop the oil prices slide.
• Kidde lost 6.27% after stating today that the September 11th. US attacks have hurt the demand for its Aerospace fire safety business.
• Marks & Spencer lost 0.90% after announcing that it is de-listing its shares from the Amsterdam, Brussels, and Paris bourses due poor representation (poor volume).
• Builder Aggregate Industries gained 6.34% as investors snapped up shares in the sector that were ignored during the recent rise.
• Easyjet gained 1.33% after reporting a stronger than expected increase in November passenger traffic.

• British Airways closed lower on its debt downgrade.

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PICKS FOR NEXT MARKET DAY

• Next week will be a busy one as the US Federal Reserve FOMC meets on Tuesday, and some major technology shares on both sides of the Atlantic report their figures, or at least give some guidance. We are expecting a strong week still.

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Market Summary and Analysis for Thursday December 6th. 2001

FTSE 250: 6074.3 = +86.8

FTSE A/S: 2595.9 = +20.4

TechMARK 100: 1604.5 = +10.5

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 rallied again. Gainers included: 365 Corporation, 3i Group Plc, Abbey National, Acambis Plc, AIT Group Plc, Alliance & Leicester Plc, Amvescap Plc, Anglo American Plc, Anite Group Plc, Associated British Foods, Astrazeneca Plc, Axis-Shield Plc, Azlan Group Plc, BAE Systems Plc, Baltimore Technology, BG Group Plc, BHP Billiton Plc, Biocompatibles Plc, Bookham Technology, Boots Co. Plc, BP Amoco Plc, Brambles Industries, British Airways Plc, British Biotech Plc, BTG Plc, BT Group Plc, Cable & Wireless, Canary Wharf Plc, Cedar Group Plc, Celltech Group Plc, CGNU Plc, CMG Plc, Cobham Plc, Computacenter Plc, Daily Mail & General Trust, Diageo Plc, Diagonal Plc, Domino Printing, Dixons Group Plc, Eidos Plc, Electrocomponent Plc, Emblaze Systems, EMI Group Plc, Enterprise Oil, Fibernet Group Plc, Filtronic Plc, Friends Provident Plc, Gallaher Group Plc, Genemedix Plc, Genetix Group Plc, GKN Plc, Granada Plc, GUS Plc, Hays Plc, Hanson Plc, HBOS Plc, Hilton Group Plc, HSBC Holdings, ICI Plc, Imagination Technology, Imperial Tobacco, Indigovision Group Plc, Innovation Group Plc, Invensys Plc, ITNet Plc, Kidde Plc, Kingfisher Plc, Kingston Communications Plc, Land Securities, Lattice Group Plc, Legal & General Plc, Lloyds TSB, London Bridge Software, Marconi Plc, Marks & Spencer, Medisys Plc, Meggitt Plc, Merant Plc, Misys Plc, MmO2 Plc, Morrison Supermarket, Morse Plc, Next Plc, Northern Rock Plc, Northgate Information Services, Pace Micro Tech, Parthus Technology Plc, Pearson Plc, Phytopharm Plc, Powergen Plc, Project Telecom, Prudential Plc, Reed International Plc, Rentokil Initial, Reuters Group Plc, Rolls Royce Plc, Royal Bank of Scotland, Royalblue Group, Royal Sun & Alliance, Scottish & Newcastle Plc, Schroders Plc, Securicor Plc, Shire Pharmaceuticals Group Plc, Six Continents Plc, Smiths Group Plc, Spectris Plc, Stagecoach Plc, Standard Chartered Bank, Telemetrix Plc, Telewest Communications, Torex Plc, Torotrak Plc, Turbo Genset, Vodafone Group Plc, Whatman Plc, Wolseley Plc, WPP Group Plc, and Xansa Plc.

REASONS FOR ACTIVITIES

• The European Central Bank (ECB) held its Repo (Interest) Rate unchanged at 3.25%.
• Telecommunications, media, banking, and insurance shares gained.
• Reed International gain