LONDON STOCK EXCHANGE DAILY MARKET
SUMMARY AND ANALYSIS (Late Edition) - Commentary Suspended till further notice

Market Summary and Analysis for Tuesday October 1st. 2002

FTSE 100: 3797.4 = +75.6

FTSE 250: 4268.6 = -18.5

FTSE A/S: 1831.3 = +29.8

TechMARK 100: 644.6 = +8.4

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed higher as US economic data and corporate results gave a glimmer of hope. Gainers included: Abbey National Plc, Alliance & Leicester Plc, Alliance Unichem Plc, Amersham Plc, Anglo American Plc, ARM Holdings Plc, Astrazeneca Plc, Autonomy Corp, Aviva Plc, Axis-Shield Plc, Azon Group Plc, BAE Systems Plc, Barclays Plc, BG Group Plc, BHP Billiton Plc, BOC Group Plc, BP Amoco Plc, Bradford & Bingley Plc, BskyB Plc, BT Group Plc, Bunzl Plc, Cable & Wireless Plc, Cambridge Antibody Plc, Canary Wharf Plc, Celltech Group Plc, Centrica Plc, Colt Telecom Group Plc, Corus Group Plc, Daily Mail & General Trust Plc, Diageo Plc, Dixons Group Plc, Eidos Plc, Friends Provident Plc, Gallaher Group Plc, Glaxosmithkline Plc, Granada Plc, Gyrus Group Plc, Hanson Plc, HBOS Plc, HSBC Holdings Plc, ICI Plc, Intermediate Capital Group Plc, Kingfisher Plc, Kingston Communications Plc, Legal & General Plc, Marks & Spencer Plc, Marlborough Stirling Plc, Medisys Plc, Misys Plc, Old Mutual Plc, Pace Micro Tech Plc, Pearson Group Plc, Phytopharm Plc, Powderject Pharmaceuticals Plc, Prudential Plc, Radstone Technology Plc, Rexam Plc, Rio Tinto Plc, Rolls Royce Plc, Royal & Sun Alliance Plc, Royal Bank of Scotland Plc, Schroders NV, Schroders Plc, Scottish Power Plc, Severn Trent Plc, Shell Transport & Trading Plc, Shire Pharmaceuticals Group Plc, Smiths Group Plc, Spirent Plc, TBI Plc, Telemetrix Plc, Telewest Communications Plc, Tomkins Plc, Unilever Plc, Vodafone Group Plc, Wolseley Plc, and Xstrata Plc.

REASONS FOR ACTIVITIES

• The Reuters® Euro Zone Purchasing managers Index (PMI) for September came in at 48.9% - any point below 50% is a contraction.
• Euro Zone Retail Trade rose 0.6% in July.
• Manchester United FC closed unchanged after announcing full year net profit of £25 million, as turnover rose 13% to £146 million.
• Six Continents lost 10.46% despite announcing plans to demerge its Pub business and give its investors shares into the company, and also return to investors £700 million. Six Continents however, closed lower after cutting its dividend.
• Oil shares gained on the back of Brent crude price gains after Iraq agreed to the return of UN inspectors, and as another Tropical Storm headed to the US/Mexican oil producing Gulf of Mexico.
• Telewest Communications gained 66.67% today after announcing at the close of trading yesterday a deal that will give 97% of the company to bondholders for £3.5 billion worth of debt.
• WS Atkins lost 72.49% after announcing the premature departure of its CEO, and that it will loss as much as £5 million due to the poor trading conditions in the US.
• MmO2 gained 10.63% after announcing that its pretax earnings in the year ending March 2004 will rise 30%, and its UK first half revenue in the current year will rise 10%.
• Software company Misys gained 10.07% after reiterating its profit outlook, and making known that its software supplies to its business clients haven't declined.
• Vodafone Group gained 3.07% after announcing plans to cut staff at its wholly owned mobile internet portal, Vizzavi. Reuters® stated that, someone familiar with the situation thinks about 90 jobs will be cut.
• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

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.

 

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Market Summary and Analysis for Monday September 30th. 2002

FTSE 100: 3721.8 = -185.4

FTSE 250: 4287.1 = -122.7

FTSE A/S: 1801.5 = -83.5

TechMARK 100: 636.2 = -24.0

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed the last day of the month and Q3 lower, due to some poor US economic data. Gainers included: Amlin Plc, Arriva Plc, Autonomy Corp, AWG Plc, Axis-Shield Plc, Biocompatibles Plc, Boots Co. Plc, Cambridge Antibody Plc, De La Rue Plc, Detica Group Plc, DFS Furniture Plc, Eidos Plc, Geest Plc, Genemedix Plc, Great Portland Estates Plc, GUS Plc, Imperial Tobacco Plc, Intermediate Capital Group Plc, John Wood Group Plc, Kelda Group Plc, Kingston Communications Plc, London Stock Exchange (LSE) Plc, Manchester United FC Plc, Paragon Group Plc, Pennion Group Plc, Pilkington Plc, Radstone Technology Plc, Railtrack Plc, Rank Group Plc, Renishaw Plc, SABMiller Plc, Sage Group Plc, Scottish & Newcastle Plc, Scottish & Southern Energy Plc, Serco Group Plc, Severn Trent Plc, Smith & Nephew Plc, Tate & Lyle Plc, Tibbet & Britten Plc, Ultraframe Plc, and Wolseley Plc.

REASONS FOR ACTIVITIES

• Elan Corp. lost 4.65% after stating that it will take a $542 million charge in fiscal Q3 due to asset sales and lower investment value.
• Water and Sewerage company, Severn Trent, gained 0.42% after announcing that it has approached regulators, OfWat, for permission to raise rates due to rising costs.
• Mobile phone operators closed lower after Sweden's Ericsson warned about its fiscal Q3 sales and orders.
•  Spirent lost 16.28% after announcing that it has sold its Monitor Labs unit to US based Teledyne Technologies for £15.4 million in cash.
• Retailers were hit after US counterparts, Wal-Mart, J.C. Penney, and Federated Department Stores, all warned about September sales - an indication of slowing consumer spending.
• Royal Bank of Scotland (RBOS) lost 6.98% due to the weak financial sector, despite announcing that its US subsidiary, Citizens Financial, paid $450 million in cash to acquire Commonwealth Bancorp, as Citizens continues its rapid expansion in the US - this is its 3rd. US acquisition in less than 18 Months.
• Unilever lost 2.04% after announcing that it will start looking for newer opportunities by entering the venture capital market. Unilever plans to spend over £100 million in this new initiative, £63 million of that with newly formed Langholm Capital Partners Fund.
• Prudential lost 6.22% and led insurers lower after announcing plans to open a service centre in India - this will cost about 850 jobs in the UK.
• Boots Company gained 3.42% on a positive trading update.
• MyTravel Group lost 36.33% after warning that its full year results will be lower than city estimates, due to the adoption of a new accounting system.
• Kingston Communications gained after stating today that its trading is in line with estimates.
• AFTER CLOSE: Telewest Communications announced a plan that if approved, will hand over about 97% of the company to bondholders in exchange for £3.5 billion worth of its debt.
• AFTER CLOSE: Sun Microsystems raised its fiscal Q4 earnings outlook by Three folds to $61 million.
• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

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.

 

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Market Summary and Analysis for Friday September 27th. 2002

FTSE 100: 3907.2 = +56.6

FTSE 250: 4409.8 = +29.6

FTSE A/S: 1885.0 = +24.8

TechMARK 100: 660.2 = +0.6

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed higher  again today. Gainers included: 3i Group Plc, Alliance Unichem Plc, Allied Domecq Plc, Anglo American Plc, Amersham Plc, Aquarius Platinum Plc, ARM Holdings Plc, Astrazeneca Plc, Aviva Plc, Axon Group Plc, BAA Plc, Barclays Plc, BG Group Plc, BHP Billiton Plc, Biocompatibles Plc, BOC Group Plc, Boots Co. Plc, Bookham Technologies Plc, BP Amoco Plc, Brambles Industries Plc, British Biotech Plc, BskyB Plc, BT Group Plc, Bunzl Plc, Cambridge Antibody Plc, Centrica Plc, Compass Group Plc, Daily Mail & General Trust Plc, Diageo Plc, Diagonal Plc, Dimension Data Holdings Ltd, Easyjet Plc, Exel Plc, Genemedix Plc, GlaxoSmithKline Plc, Granada Plc, GUS Plc, Hays Plc, HBOS Plc, Hilton Group Plc, Johnson Matthey Plc, Kingston Communications Plc, Lattice Group Plc, Lloyds TSB Group Plc, Lonmin Plc, Medisys Plc, National Grid Plc, Next Plc, P&O Princess Cruise Plc, Parthus Tech Plc, Pearson Plc, Reed Elsevier Plc, Reuters Group Plc, Rexam Plc, Rio Tinto Plc, Royal Bank of Scotland Plc, SABMiller Plc, Schroders NV, Schroders Plc, Scottish & Southern Energy Plc, Scottish Power Plc, Shell Transport & Trading Plc, Tesco Plc, Thus Group Plc, United Business Media Plc, Vernalis Group Plc, Vodafone Group Plc, WPP Group Plc, Xansa Plc, and Xstrata Plc.

REASONS FOR ACTIVITIES

• WPP Group gained 4.45% and led media shares higher after winning Gillette Company's worldwide media account valued at between $600 million to $800 million.
• Oil shares gained as Brent Crude prices rose on Friday.
• BHP Billiton gained 3.13% after announcing that it is in talks to buy a stake in a $2 billion Malaysian Aluminum smelter.
•  GUS gained 4.08% after CS First Boston raised its price target on the stock.
• Colt Telecom lost 2.52% after announcing that it will write down £550 million in assets book value decline in fiscal Q3, and cut 800 jobs due to the continuing weakness in the sector.
• Tobacco shares closed lower after Philip Morris warned and lowered its fiscal 2002 outlook yesterday.
• United Business Media (UBM) gained 6.88% after statistics shows its US based CMP Media Publishing saw its market share increase to 28.9% in August.
• Vernalis Group gained 64.41% after the biotechnology company raised its full year revenue outlook due to the spectacular performance of its Migraine Drug, Frovatripton™, in the US market.
• Gold and Platinum shares gained after the prices of the commodities also rose.
• Compass Group gained 3.36% after circumventing a fiscal 2003 earnings outlook downgrade from Merrill Lynch, by announcing that its annual sales growth will be within targets at 6%, and it also expects an increase in like-for-like margins.
• Rio Tinto gained 1.61% after the Australian government ruled that its Ranger Uranium Mine near Kakadu National Park is not harming the environment.
• Easyjet gained 2.21% after announcing plans to cut its flights so as it will match its current staff.
• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

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.

 

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Market Summary and Analysis for Thursday September 26th. 2002

FTSE 100: 3850.6 = +154.4

FTSE 250: 4380.2 = +45.2

FTSE A/S: 1860.2 = +66.9

TechMARK 100: 659.6 = +20.2

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed higher  again today. Gainers included: 3i Group Plc, Abbey National Plc, Acambis Plc, Alliance & Leicester Plc, Alliance Unichem Plc, Allied Domecq Plc, Allied Irish Banks Plc, Anglo American Plc, Amersham Plc, Amvescap Plc, Anite Group Plc, ARM Holdings Plc, Associated British Foods Plc, Astrazeneca Plc, Aviva Plc, BAA Plc, BAE Systems Plc, Barclays Plc, BG Group Plc, BHP Billiton Plc, BOC Group Plc, Bookham Technologies Plc, Boots Co. Plc, BP Amoco Plc, Bradford & Bingley Plc, British American Tobacco Plc, British Land Co. Plc, BT Group Plc, Bunzl Plc, Cable & Wireless Plc, Cadbury Schweppes Plc, Cambridge Antibody Plc, Canary Wharf Plc, Capita Group Plc, Carillion Plc, Celltech Group Plc, Centrica Plc, Close Brothers Plc, Colt Telecom Group Plc, Compass Group Plc, Corus Group Plc, Daily Mail & General Trust Plc, Dimension Data Holdings Ltd, Dixons Group Plc, Elan Corp, EMap Plc, Enodis Plc, Exel Plc, Filtronic Plc, Friends Provident Plc, Gallaher Group Plc, GKN Plc, GlaxoSmithKline Plc, Granada Plc, Hays Plc, HBOS Plc, HSBC Holdings Plc, ICI Plc, Invensys Plc, Isoft Group Plc, J Sainsbury Plc, Johnson Matthey Plc, Kidde Plc, Land Securities Group Plc, Legal & General Plc, Lloyds TSB Group Plc, Logica Plc, Man Group Plc, Marconi Plc, Marks & Spencer Plc, Marlborough Stirling Plc, Medisys Plc, Misys Plc, MmO2 Plc, Morrison Supermarket Plc, Next Plc, Northern Rock Plc, Old Mutual Plc, P&O Princess Cruise Plc, Parthus Tech Plc, Prudential Plc, Psion Plc, Reed Elsevier Plc, Rentokil Initial Plc, Reuters Group Plc, Rexam Plc, Rio Tinto Plc, Rolls Royce Plc, Royal & Sun Alliance Plc, Royal Bank of Scotland Plc, SABMiller Plc, Safeway Plc, Sage Group Plc, Schroders NV, Schroders Plc, Scottish & Southern Energy Plc, Scottish Power Plc, Severn Trent Plc, Shire Pharmaceuticals Group Plc, Smith & Nephew Plc, Spectris Plc, Standard Chartered Bank Plc, Surfcontrol Plc, Synstar Plc, Tomkins Plc, Torotrak Plc, TTP Communications Plc, Turbo Genset Plc, Vodafone Group Plc, Whatman Plc, Weston Medical Plc, Wolseley Plc, WPP Group Plc, Xansa Plc, and Xstrata Plc.

REASONS FOR ACTIVITIES

• Close Brothers gained 4.32% after reporting full year pretax profit that declined 17% to £78.5 million, which still topped city estimates. Close Brothers sees its short-term as being murky.
•  Emblaze Systems lost 6.67% after reporting first half pretax losses that rose £11 million to £15 million, as turnover also declined by £11 million to £2 million.
• Corillian gained 5.33% after announcing that it won a Scottish Prison Services contract worth about £15 million.
• Financials continued their rally today, as insurers also gained due to improved equities markets.
• Royal & Sun Alliance gained 8.55% after a US Court ruled late Wednesday that the insurer needs to settle the World Trade Center (WTC) bombing claims as one claim - a big plus to the company.
• Allied Irish Banks gained 9.13% today after confirming that it is in talks to sell its troubled US subsidiary, Allfirst Financial, to US based M&T Bank, for as much as $3.0 billion.
• Shire Pharmaceuticals Group gained 4.67% after its analysts' briefing about its 2002 Research & Development seemed to have gone well.
• BP Amoco gained 5.62% and led oil shares higher after it was named as part of the team that won the contract to supply Liquified Natural Gas (LNG) to Fujian LNG terminal in China.
• Oxford Glycosciences lost 1.64% after reporting first half pretax losses that rose over £11 million to £19.5 million, due to increased drug discovery and manufacturing costs.
• Sugar giant, Tate & Lyle, lost 0.55% despite announcing that its first half results will beat city estimates.
• BT Group gained 8.60% after broker Cazenove made known that the shares were undervalued.
• EMap gained 1.62% despite a Goldman Sachs downgrade to "market outperformer".
• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

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.

 

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Market Summary and Analysis for Wednesday September 25th. 2002

FTSE 100: 3696.2 = +25.1

FTSE 250: 4335.0 = +30.2

FTSE A/S: 1794.4 = +11.8

TechMARK 100: 639.5 = +3.8

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 closed higher today, due mostly to the rally in financial and insurance shares. Gainers included: 3i Group Plc, Acambis Plc, Anglo American Plc, Amvescap Plc, ARM Holdings Plc, Associated British Foods Plc, Astrazeneca Plc, Aviva Plc, BAE Systems Plc, Barclays Plc, Barratt Developments Plc, BATM Advanced Communications Plc, BHP Billiton Plc, BOC Group Plc, Boots Co. Plc, Bradford & Bingley Plc, British Biotech Plc, British Energy Plc, British Land Co. Plc, BskyB Plc, BTG Plc, Bunzl Plc, Cadbury Schweppes Plc, Capita Group Plc, Celltech Group Plc, CMG Plc, Colt Telecom Group Plc, Compass Group Plc, Diageo Plc, Dimension Data Holdings Ltd, Elan Corp, Emblaze Systems Plc, First Technology Plc, Friends Provident Plc, GlaxoSmithKline Plc, Granada Plc, Groupe Chez Gerard Plc, GUS Plc, Hilton Group Plc, Imperial Tobacco Plc, J Sainsbury Plc, Kidde Plc, Kingfisher Plc, Kingston Communications Plc, Land Securities Group Plc, Legal & General Plc, Lloyds TSB Group Plc, Logica Plc, Man Group Plc, Marks & Spencer Plc, Medisys Plc, MmO2 Plc, Morrison Supermarket Plc, Old Mutual Plc, Pace Micro Tech Plc, Parthus Tech Plc, Plasmon Plc, Prudential Plc, Rentokil Initial Plc, Reuters Group Plc, Rexam Plc, Rio Tinto Plc, Rolls Royce Plc, Royal & Sun Alliance Plc, Royal Bank of Scotland Plc, Safeway Plc, Sage Group Plc, Schroders NV, Scottish & Southern Energy Plc, Skyepharma Plc, Smiths Group Plc, Spectris Plc, Tesco Plc, Thus Group Plc, Tomkins Plc, Torex Plc, Torotrak Plc, TTP Communications Plc, Ultra Electronics Holdings Plc, United Utilities Plc, Weston Medical Plc, Wolseley Plc, WPP Group Plc, and Xstrata Plc.

REASONS FOR ACTIVITIES

• Compass Group gained 10.18%after Merrill Lynch had positive comments about it.
• Amstrad lost 20.90% after reporting full year pretax profit that declined £2 million to £4.2 million, as turnover declined by almost half to £35.4 million.
• Astrazeneca gained 5.28% and led drug shares higher after the US Food & Drug Administration (FDA) advisory board recommended the approval of its anti-Cancer tumor drug, Iressa™. Morgan Stanley upgraded Astrazeneca to "overweight".
• Allied Irish Banks lost 0.43% despite news that it is selling its troubled US subsidiary, Allfirst Financial, to US based M&T Bank, for $2.3 billion in cash and stock.
• Smiths Group gained 6.45% after reporting full year pretax profit of £286.1 million, well better than the losses seen last year.
• British Energy gained 15.41% on news that the government owned British Nuclear Fuels might buy a stake in the company.
• Vodafone Group lost 1.20% after US legal firm, Milberg Weiss Bershad Hynes & Lerach, confirmed it has launched a class action lawsuit against it on behalf of its shareholders.
• Barratt Developments gained 1.92% after reporting full year earnings that rose 20%.
• BskyB gained 3.07% after signing a deal to broadcast Champions League Football games.
• Groupe Chez Gerard gained 26.19% after Paramount announced that it has made a bid for it. Paramount closed unchanged.
• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

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.

 

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Market Summary and Analysis for Tuesday September 24th. 2002

FTSE 100: 3671.1 = -68.3

FTSE 250: 4304.8 = -106.5

FTSE A/S: 1782.6 = -34.5

TechMARK 100: 635.7 = -11.2

SUMMARY & ANALYSIS

The London Stock Exchange (LSE) FTSE 100 and the TechMARK 100 lost to close at a new lowest level in 6 years. Gainers included: Acambis Plc, Aggreko Plc, Amvescap Plc, Associated British Ports Plc, Avis Europe Plc, Bookham Technologies Plc, Cattles Plc, Christian Salvesen Plc, Compass Group Plc, Corin Group Plc, Dairy Crest Plc, eBookers Plc, Emap Plc, Emblaze Systems Plc, Eurotunnel Plc, Friends Provident Plc, GlaxoSmithKline Plc, J Sainsbury Plc, Land Securities Group Plc, Legal & General Plc, Man Group Plc, Marconi Plc, Marks & Spencer Plc, McCarthy & Stone Plc, Medisys Plc, Misys Plc, MmO2 Plc, Morrison Supermarket Plc, Northern Foods Plc, PHS Group Plc, Plasmon Plc, Prudential Plc, Punch Taverns Plc, Radstone Technology Plc, Railtrack Plc, Rank Group Plc, Sage Group Plc, Schroders Plc, St. James Place Plc, Torotrak Plc, TTP Communications Plc, Ultraframe Plc, Viridian Group Plc, VT Group Plc, Xstrata Plc, and Yule Catto & Co. Plc.

REASONS FOR ACTIVITIES

• The Euro Zone Current Account Trade Surplus was 2.8 Billion Euros in July.
• Wolseley lost 12.09% despite reporting first half pretax profit that rose 15.4% to £437.4 million. Wolseley however, expects US operations to continue to suffer.
• House of Fraser lost 5.14% after reporting first half pretax losses that rose to £2.7 million, while like-for-like sales rose 3.7% for the period.
• Christian Salvesen gained 15.65% after announcing that its first half results will meet city estimates, and it plans to start a share buyback plan.
• Ottakar lost 3.59% after reporting first half losses that rose to £2 million. Ottakar also announced that for the period, its like-for-like sales rose 3.7%, and 3.9% for the 8 weeks ending September 21st.
• EMap gained 0.15% after reporting first half sales that rose 5%, as underlying revenue rose 2.0% in the same period. EMap also assured that business is well ahead of last year's levels.
• Reuters Group lost 4.01% after Morgan Stanley cut its price target on the stock.
• Oil shares closed lower despite a spike in crude oil prices due to the Hurricane Isidore that is affecting the US and Mexican oil producing and shipping region of the Gulf of Mexico.