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LONDON STOCK EXCHANGE DAILY MARKET SUMMARY
AND ANALYSIS (Late Edition) ARCHIVES
<---D350--->
Market
Summary and Analysis for Monday June 24th. 2002
FTSE
100: 4541.9 = -63.4
FTSE
250: 5497.5 = -57.6
FTSE
A/S: 2217.3 = -29.5
TechMARK
100: 854.3 = -20.4
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 and the TechMARK
100 closed back to their lowest levels in 9 months.
Gainers included: AEA Technology Plc, Anite Group
Plc, Autonomy Corp, Balfour Beatty Plc, Boots
Co. Plc, Brambles Industries Plc, Canary Wharf
Plc, Dimension Data Plc, eBookers Plc, Emblaze
Systems Plc, Exel Plc, Eyretel Plc, Fibernet Group
Plc, GKN Plc, Granada Plc, Imagination Tech, Innovation
Group Plc, International Power Plc, Invensys Plc,
ITNet Plc, Kidde Plc, LastMinute.Com Plc, Majestic
Wine Plc, Marks & Spencer Plc, Merant Plc,
Mitie Group Plc, Morse Plc, Phytopharm Plc, Powderject
Pharmaceuticals Plc, Powergen Plc, Ramco Energy
Plc, Reckitt Benckiser Plc, Reed Elsevier Plc,
Retail Stores Plc, Roxboro Group Plc, Royal Bank
of Scotland Plc, SameDayBooks.Co.Uk Plc, Scipher
Plc, Stadium Group Plc, TBI Plc, Telemetrix Plc,
Tesco Plc, Turbo Genset Plc, Ultra Electronics
Holdings Plc, Vernalis Group Plc, Wolseley Plc,
Xansa Plc, and Xenova Group Plc.
REASONS
FOR ACTIVITIES
- GlaxoSmithKline
lost 2.60% and led drug shares lower after
announcing that it has halted trials for the
Cancer drug it was developing with US partner,
ImmunoGen.
- Aggreko
lost 34.79% after warning that its fiscal
2002 results will miss due to the poor market
conditions in North America.
- Banking
shares were hit today despite weekend news
that Abbey National was in talks with major
European banks. Lloyds TSB lost 1.48% despite
announcing that it will meet first half estimates.
Lloyd also announced the increase of its debt
provisions, due to increased lending.
- Mobile
phone company MmO2 lost 1.33% after Goldman
Sachs downgraded it to a "market performer".
- Vodafone
Group lost 2.78% and so did other mobile phone
and telecommunications shares after Moody's
Investor Services cut the credit of France
Telecom SA and its subsidiary, Orange SA,
a notch above junk status. Orange SA lost
8.96%.
- GUS
lost 0.17% after announcing that the conditional
trading of its Burberry unit will start 12th.
of July. GUS is floating about 25% of Burberry
at 230p/shares to 290p/share, thus valuing
Burberry around £1.45 billion.
- Advertiser
WPP Group lost 6.50% and took advertising
and media shares lower after warning that
its fiscal 2002 operating margins will be
at least 15% shy of estimates, and it doesn't
expect a full recovery in the sector until
2004.
-
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- Oxford
Glycosciences lost 23.57% after the US Food
& Drug Administration (FDA) requested
more clinical trials for its Central Nervous
System drug, Vevesca™.
- Wolseley
gained 0.85% after announcing that it has
acquired 4 businesses in Canada, UK and the
US for £10 million. Wolseley expects the acquisition
to add about £30 million a year in sales.
- Smith
& Nephew lost 1.88% after making the trading
statement that it sees its first half sales
rising 14%, thanks to the restructuring that
involved the sell of some assets.
- Exel
gained 1.34% after stating that it will meet
fiscal 2002 profit growth target.
- Majestic
Wine gained 4.57% after reporting full year
pretax profit of £6.1 million, a 34% increase,
while turnover rose 21% to £104 million. Majestic
Wine also announced that its like-for-like
sales in the last 11 weeks rose 12.2%.
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<---D349--->
Market
Summary and Analysis for Friday June 21st. 2002
FTSE
100: 4605.3 = +25.0
FTSE
250: 5555.1 = +5.6
FTSE
A/S: 2246.8 = +10.2
TechMARK
100: 874.7 = +6.2
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 and the TechMARK
100 closed higher on Friday - finally! Gainers
included: 3i Group Plc, Abbey National Plc, AEA
Technology Plc, Alliance & Leicester Plc,
Amersham Plc, Amvescap Plc, Anite Group Plc, ARM
Holdings Plc, Astrazeneca Plc, BAA Plc, Barclays
Plc, Bookham Technology Plc, Bradford & Bingley
Plc, British Airways Plc, British American Tobacco
Plc, British Land Co. Plc, BskyB Plc, BTG Plc,
Budgens Plc, Cadbury Schweppes Plc, Capita Group
Plc, Centrica Plc, Compass Group Plc, Computacenter
Plc, Dicom Group Plc, Dixons Group Plc, Domino
Printing Plc, EMI Group Plc, Eyretel Plc, Fibernet
Group Plc, Filtronic Plc, Gallaher Group Plc,
GlaxoSmithKline Plc, Granada Plc, Gyrus Group
Plc, HBOS Plc, Hilton Group Plc, HSBC Holdings
Plc, Imagination Tech Plc, Imperial Tobacco Plc,
International Power Plc, Invensys Plc, Johnson
Matthey Plc, Kidde Plc, Kingston Communications
Plc, Lattice Group Plc, Legal & General Plc,
Lloyds TSB Group Plc, Logica Plc, Man Group Plc,
Marconi Plc, Misys Plc, MmO2 Plc, Morse Plc, Morrison
Supermarket Plc, Northern Rock Plc, Old Mutual
Plc, Pace Micro Tech Plc, Prudential Plc, Psion
Plc, Reuters Group Plc, Rolls Royce Plc, Roxboro
Group Plc, Royal & Sun Alliance, Royal Bank
of Scotland Plc, Safeway Plc, Schroders Plc, Schroders
NV, Scottish Power Plc, Severn Trent Plc, Shire
Pharmaceuticals Group Plc, Six Continents Plc,
SMG Plc, Smith & Nephew Plc, Standard Chartered
Bank Plc, Telewest Communications Plc, Torex Plc,
Vodafone Group Plc, .
REASONS
FOR ACTIVITIES
- WEEKEND
NEWS: Abbey National's CEO Ian Harley, stated
in a Sunday Times interview that the UK's
sixth banking house has been having takeover
talks with leading European banks.
- British
American Tobacco (BAT) gained 1.97% and led
tobacco shares higher after its US subsidiary,
Brown & Williamson, was ordered to pay
only $1,984 and no punitive damages in a lawsuit
filed by a former smoker. US rival, RJ Reynolds,
fined $200,000 and ordered to pay punitive
damages of $15 million.
- Banking
shares rebounded after suffering most of the
week due to the earnings warning from Abbey
National.
- Mobile
phone operators gained after US based Qualcomm
announced that it expects to beat financial
estimates due to an increased demand for its
wireless digital CDMA technology products.
- Astrazeneca
gained 0.75% and prompted drug shares to close
lower after US consumer products giant and
drug partner, Procter & Gamble, convinced
a US Food & Drug Administration (FDA)
panel to allow the sell of Astrazeneca's heartburn
medication, Prilosec™, over the counter. The
FDA panel, which the FDA generally accept
their recommendations, voted 16 to 2 in favour.
This is expected to increase Prilosec's sales
by at least $400 million a year.
-
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- EMI
Group gained 4.27% after agreeing to sell
its stake in German television company, Viva
Media, to AOL Time Warner for £34 million
- a tidy £28 million profit.
- BT
Group lost 0.90% after telecommunications
regulator, Oftel, gave the telecommunications
giant a major blow by announcing that BT Group
either sell broadband internet access to its
rivals at wholesale prices, or allow them
to install Digital Subscriber Lines (DSL)
at its exchanges. Rivals like Telewest Communications
gained 30.80% on the news.
- Television
stations holding company SMG gained 7.58%
after stating at its AGM that its trading
is in line.
- Food
retailer Budgens gained 8.06% after accepting
the £315.5 million acquisition offer from
Irish food company, Musgrave.
- Technology
and media shares all gained on optimism about
next week's earnings reports.
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<---D348--->
Market
Summary and Analysis for Thursday June 20th. 2002
FTSE
100: 4580.3 = -72.1
FTSE
250: 5549.5 = -76.5
FTSE
A/S: 2236.6 = -34.1
TechMARK
100: 868.5 = -11.3
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 and the TechMARK
100 closed lower to another 9 months low. Gainers
included: AEA Technology Plc, Affinity Internet
Plc, Aggregate Industries Plc, Alphameric Plc,
Amersham Plc, Anite Group Plc, Arcadia Group Plc,
AWG Plc, BAE Systems Plc, Barratt Developments
Plc, BATM Advanced Communications, Boots Co. Plc,
BP Amoco Plc, Brambles Industries Plc, Celltech
Group Plc, CMG Plc, Cookson Group Plc, Diageo
Plc, Diagonal Plc, Domino Printing Plc, Easyjet
Plc, Energis Plc, Filtronic Plc, Gallaher Group
Plc, GKN Plc, Greene King Plc, Imagination Tech
Plc, IMI Plc, Imperial Tobacco Plc, JD Wetherspoon
Plc, LastMinute.Com Plc, Lattice Group Plc, London
Bridge Software Plc, Lonmin Plc, Marlborough Sterling
Plc, Medisys Plc, Merant Plc, Michael Page International
Plc, Minerva Plc, Morse Plc, N Brown Group Plc,
Ncipher Plc, Pace Micro Tech Plc, Parity Group
Plc, Regus Plc, Rotork Plc, Serco Group Plc, Schroders
NV, Scottish Power Plc, Severn Trent Plc, Shire
Pharmaceuticals Group Plc, Smiths Group Plc, Telemetrix
Plc, Thistle Hotel Plc, Viridian Group Plc, and
Weston Medical Plc.
REASONS
FOR ACTIVITIES
- UK
Retail Sales rose only 0.6% in May.
- Corus
Group lost 2.06% despite news that French
Aluminum giant, Pechiney, intends to bid for
its Aluminum business.
- Online
bank, Egg, lost 1.12% after raising £75 million
in a new bond issue.
- Engineering
group IMI gained 0.80% after stating that
its business is better than Q4 2001 levels,
thanks to its cost cutting and restructuring.
- JD
Sports lost 3.14% after reporting full year
pretax profit that rose 21% to £20 million,
as turnover rose 20%. JD Sports also announced
that its like-for-like sales since March 31st.
have risen 3.2% in its sporting division,
while its leisurewear division saw a decline
of 6.1%.
- Minerva
gained 1.15% after announcing plans to build
London's biggest office building. The new
building to the called The Minerva building,
will have 43 floors.
- The
markets closed lower on continued weakness
in the US.
-
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- Scottish
Power rebounded by gaining 5.26% today after
reassuring investors that neither its US unit,
Pacificorp, nor Scottish Power itself, has
accounting problems.
- Diageo
gained 0.12% on news that it is about to sell
its Burger King unit to a management team
led by Burger King chairman, John Dasburg,
for about £1.5 billion.
- AEA
Technology gained 5.25% after reporting full
year pretax profit of £13.5 million, which
is well better than the loss reported last
year, thanks to its sell of non-core assets.
AEA Technology also announced that it is returning
£70 million to shareholders.
- Reuters
Group lost 13.88% after announcing plans to
speed up its restructuring by announcing plans
to cut another 650 jobs and save £100 million
a year in costs. Reuters also announced it
will take a £100 million charge this year,
due mostly to the job cuts.
- Troubled
telecommunications equipment maker Marconi
lost 11.40% after announcing that it is making
progress in its talks with creditors. Marconi
however, dropped a bombshell by announcing
a debt-to-equity swap that will dilute its
shares significantly.
- Telecommunications
related shares closed lower after Nokia lowered
its fiscal Q2 sales outlook.
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<---D347--->
Market
Summary and Analysis for Wednesday June 19th.
2002
FTSE
100: 4652.4 = -49.6
FTSE
250: 5626.0 = -85.7
FTSE
A/S: 2270.7 = -25.7
TechMARK
100: 879.8 = -17.3
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 and the TechMARK
100 closed lower to another 9 months low. Gainers
included: Acambis Plc, AEA Technology Plc, Alliance
& Leicester Plc, Allied Domecq Plc, Alphameric
Plc, Amersham Plc, Anglo American Plc, Axis-Shield
Plc, Azlan Group Plc, BAE Systems Plc, BHP Billiton
Plc, BOC Group Plc, Brambles Industries Plc, British
Land Co. Plc, BT Group Plc, BTG Plc, Corus Group
Plc, Diagonal Plc, Domino Printing Plc, Emblaze
Systems Plc, Energis Plc, Foreign & Colonial
Investment Trust Plc, Gyrus Group Plc, Hilton
Group Plc, ICI Plc, Intec Telecom Plc, Kidde Plc,
Marks & Spencer Plc, Meggitt Plc, Ncipher
Plc, Old Mutual Plc, P&O Princess Cruise Plc,
Parity Group Plc, Pennon Group Plc, Powergen Plc,
Reed Elsevier Plc, Riversoft Plc, Royalblue Group
Plc, SA Breweries Plc, Scipher Plc, Scottish &
Newcastle Plc, Scottish & Southern Energy
Plc, Shire Pharmaceuticals Group Plc, Six Continents
Plc, and Spirent Plc.
REASONS
FOR ACTIVITIES
- Euro
Zone Industrial Production declined 0.5% in
April.
- Earnings
warnings from Apple, and AMD pulled technology
shares lower.
- Abbey
National lost 0.70% after SG Securities lowered
its 2002 pretax profit outlook. Generally,
banking shares led the decline today.
- British
Airways lost 1.86% and led airline shares
lower after canceling flights due to the European
air traffic controllers strike.
- Xansa
lost 13.67% on news that banking giant HBOS
is terminating its contract with First Banking
Systems, a computer services firm the 2 jointly
owned. HBOS lost 2.49%.
- Spirent
gained 0.50% after agreeing to acquire the
remote special services test product line
of US based Anritsu for $26 million (£17.4
million).
- Telecommunications
and telecommunications equipment makers shares
closed lower after their US rival, Ciena,
lowered its outlook.
- Mobile
phone shares closed lower after a Finnish
study revealed that mobile phone radiation
does pose radiation risks.
-
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- Scottish
Power lost 8.19% on market rumours that its
US unit, Pacificorp, has accounting problems.
Scottish Power denied the rumour.
- P&O
Princess Cruise gained 0.35% after receiving
UK regulator's approval for its planned merger
with Royal Caribbean Cruises.
- Brambles
Industries gained 4.43% after making the trading
statement that its trading is in line with
city estimates.
- Riversoft
gained 53.33% after US based Micromuse agreed
to acquire it in a deal valued at £43.3 million.
- Unilever
lost 1.33% after announcing plans to boost
its Mexican brands by investing $230 million
this year.
- Telewest
Communications lost 2.31% after its bondholders
rejected the Liberty TWSTY Bonds inc. offer
to buy 20% of Telewest's $4.2 billion outstanding
bonds.
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SERVICES: We now have operations in these
countries: Australia,
Canada,
South
Africa, UK
& Ireland, and United
States. Please take full advantage of
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PICKS
FOR NEXT MARKET DAY
- UK
and US economic and earnings reports will
determine how the markets close this week.
indexbody -->
Visit our sister portal to read more on our
analysis and summary of the US Stock Markets .
<---D346--->
Market
Summary and Analysis for Tuesday June 18th. 2002
FTSE
100: 4702.0 = -54.8
FTSE
250: 5711.7 = -30.8
FTSE
A/S: 2296.4 = -24.0
TechMARK
100: 897.1 = -5.7
SUMMARY
& ANALYSIS
The
London Stock Exchange (LSE) FTSE 100 and the TechMARK
100 closed lower. Gainers included: Acambis Plc,
Alba Plc, Alphameric Plc, Anite Group Plc, Axis-Shield
Plc, BAE Systems Plc, BG Group Plc, Bobcock International
Plc, BP Amoco Plc, British Airways Plc, BTG Plc,
Capita Group Plc, CMG Plc, Compass Group Plc,
Computacenter Plc, Corus Group Plc, Daily Mail
& General Trust Plc, Dicom Group Plc, Eidos
Plc, Electrocomponent Plc, Emblaze Systems Plc,
EMI Group Plc, Eyretel Plc, Fibernet Group Plc,
Galen Holdings Plc, Green King Plc, Hays Plc,
Hilton Group Plc, ICI Plc, Imperial Power Plc,
Intec Telecom Plc, Invensys Plc, Isoft Group Plc,
Jarvis Plc, LastMinute.Com Plc, Logica Plc, Marks
& Spencer Plc, Meggitt Plc, Merant Plc, Misys
Plc, Northgate Information Solutions Plc, Oxford
Glycosciences Plc, Oxford Instruments Plc, Pearson
Plc, Reed Elsevier Plc, Rentokil Initial Plc,
Rolls Royce Plc, Royal & Sun Alliance Plc,
Royalblue Group Plc, Sage Group Plc, Scipher Plc,
Scottish Power Plc, Stanelco Plc, Surfcontrol
Plc, TTP Communications Plc, United Utilities
Plc, Vernalis Group Plc, Xansa Plc, and Xenova
Group Plc.
REASONS
FOR ACTIVITIES
- The
UK Consumer Price Index (CPI) rose only 1.8%
in May.
- Euro
Zone Consumer Price Index (CPI) rose only
2.0% in May, while Core CPI rose 2.6%.
- BP
Amoco gained 0.19% after Lehman Brothers upgraded
it to a "market under performer".
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