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Traders Thread - Friday 27th May (TRAD)     

Greystone - 26 May 2005 21:04


optomistic - 27 May 2005 09:25 - 13 of 18

AL,I'm in for the second time, did alright on the first deal. Looking for much more this time.

little woman - 27 May 2005 09:31 - 14 of 18

Good morning all,

Looks like the banks are going to get hit again!

little woman - 27 May 2005 15:06 - 15 of 18

PIC is on a roll! Good news. I have a few from 5 ro 6 years ago which I have been ignoring!

optomistic - 27 May 2005 17:19 - 16 of 18

I have one or two from 5/6 years ago, wish they would start rolling :-)

Stan - 27 May 2005 23:18 - 17 of 18

Wish I'd "rolled" mine 5/6 years ago....sniff sniff.

Digger - 29 May 2005 15:38 - 18 of 18

AFX UK at a glance share guide

MARKETS
FTSE 100 4,986.3 down 8.6
FTSE 250 7,105.4 up 13.0
DJIA 10,542.55 up 4.95
Nasdaq Comp 2,075.73 up 4.49
S&P 500 1,198.78 up 1.16
Gold 418.35 usd (418.45 usd)
Oil - Brent July 50.70 usd (50.16 usd)

BREAKING NEWS - WEEKEND
* UNITED UTILITIES will launch a deeply discounted 500 mln stg rights issue this week to help fund a multi-billion pound investment programme - The Business
* MARKS & SPENCER chief executive Stuart Rose plans to rip up the contracts of his 66,000 shopfloor staff and change their working practices radically in his attempt to revive the troubled chain - Mail on Sunday
* Private equity firms approach Esporta-owner Duke Street Capital to make a 700 mln stg swoop on WHITBREAD-owned health and fitness chain David Lloyd - Sunday Express
* PRUDENTIAL looks set to become the latest FTSE 100 company to drop Cazenove as broker and hold a 'beauty contest' to find a replacement - Observer
* UK casino firms rolling out plans to build up to 100 new casinos; gambling bosses trying to take advantage of a loophole which could result in a huge number of gambling dens opening on Britain's high streets before the new Gambling Act comes into force - Observer
* European aircraft manufacturer AIRBUS tells government that unless it receives up to 400 mln stg in aid to launch its new 4 bln eur mid-range plane, Britain could lose the job of building its wings - Observer
* AIRBUS warns that 32,400 British jobs are at stake if the government rejects its application for up to 400 mln stg for a new jet - Independent on Sunday
* Trade war threatened over 379 mln stg subsidy for AIRBUS - Sunday Times
* Drive by BAE SYSTEMS to conquer the US market could be stopped in its tracks by a new US defence bill that will prevent foreign firms bidding for Pentagon contracts - Independent on Sunday
* Nike, the global sportswear giant, threatening to abandon its record-breaking 303 mln stg sponsorship deal with MANCHESTER UNITED unless the team can prove next season that it can consistently challenge for top honours - Sunday Telegraph
* Malcolm Glazer agrees deal with bankers backing his 690 mln stg takeover of MANCHESTER UNITED that would make it difficult for the club's manager to sign top stars of the calibre of Wayne Rooney or Rio Ferdinand - Independent on Sunday
*Advisers to UNITED BUSINESS MEDIA preparing to sell the group's 35 pct stake in broadcaster Five for about 200 mln stg and have had talks with advisers to RTL, which owns the other 65 pct - Sunday Express
* Flotation of QINETIQ, the defence and security technology company, to be the first significant asset sale by the newly re-elected Labour government - Sunday Telegraph
* American defence group L-3 COMMUNICATIONS planning an acquisition drive in Britain and could consider gatecrashing the planned float of Qinetiq - Sunday Times
* BT attempting to head off tough regulatory action by setting up a 'company in a company' to deal with rivals that want to use its phone lines to serve homes - Mail on Sunday
* Concern over level of debt accumulated in buyouts of big British companies will intensify this week as it emerges that Ethel Austin, the fashion retailer owned by a private-equity house, is in talks with its banks - Sunday Times
* The 5.5 bln stg merger between NTL and TELEWEST about to take a major step forward with the appointment of two further advisers, completing the team - Mail on Sunday
* RENTOKIL INITIAL, the 2.8 bln stg pest control and services group, considering a bid for PHS, its 500 mln stg rival - Mail on Sunday
* BAA preparing for a furious battle to retain control of the Heathrow Express, the dedicated rail link that is threatened with compulsory purchase under a bill going through Parliament - Sunday Telegraph
* CENTRICA in full assault on Europe; in partnership with Gaz de France, Centrica will buy a 60 pct stake in Societe Publique d'Electricite for about 275 mln stg - Mail on Sunday
* As the French go to the polls this weekend, an explosive report reveals that the cost of Britain's membership of the European Union could easily top 200 bln stg a year if the European Constitution is adopted - The Business
* INTERNATIONAL POWER nearing agreement on a 390 mln stg deal to buy Saltend power station in Hull, England, from US power firm Calpine - The Business
* The 11 bln stg takeover bid by Italy's Unicredito for Germany's HVB will face competition and anti-trust problems in eastern Europe, where both banks have strong franchises, especially in countries such as Poland - The Business
* Airbus set to launch the A350 mid-size jet at June's Paris Air Show with up to 150 orders worth 10 bln stg - The Business
* Edward Lampert, the investor who masterminded the merger between Sears and Kmart, named the world's highest-paid hedge fund manager, taking more than 550 mln stg home last year - Saturday FT
* Shares in MULTIPLEX suspended as the Australian construction group building the new Wembley stadium says losses associated with the project could be "significantly greater" than the 20.1 mln stg it had been expecting - Saturday FT
* MULTIPLEX expected to announce tomorrow that it faces losses of up to 70 mln stg from building London's new Wembley stadium - Sunday Times
* ITV angers Ofcom by appearing to attempt to lift City expectations of a better than expected deal on a new licence for Britain's biggest commercial television broadcaster - Saturday FT
* Millionaire US investment banker Bob Diamond has amassed 49 mln stg of BARCLAYS shares and could earn a further 15.25 mln this year if he hits performance targets - Saturday FT
* ROYAL DUTCH/SHELL underlines the seriousness of its second reserves cut last year by estimating that the barrels of oil and gas removed were more valuable than those in its first, bigger reduction - Saturday FT
* SHELL to auction its liquid petroleum gas business and is hoping for bids of up to 1.6 bln stg - Sunday Telegraph
* Huge tax bills for ROYAL DUTCH investors from SHELL merger; it emerges in the small print that about 2,000 British investors who own Royal Dutch shares do not qualify for rollover tax relief - Sunday Telegraph
* Home loans move up for third month; British Bankers' Association says 69,323 mortgages were granted last month, a 6 pct rise on March
* Channel 4 believed to have entered talks aimed at becoming part-owner of Flextech, the digital television channels business put up for sale by TELEWEST - Saturday Independent
* FRIENDS PROVIDENT to sell Isis Equity Partners, the venture capital firm, to its management team to circumvent problematic new accounting standards - Saturday Times
* MAPELEY, the property firm behind one of Labour's most controversial private finance deals, plans to float on the stock exchange to pay down its debt and buy new assets - Saturday Guardian
* UK-based oil services company PETROFAC, the UK's largest operator of North Sea oil platforms, sets the ball rolling for a 500 mln stg flotation on the London Stock Exchange - The Business
* HARDY OIL & GAS set to become the first Indian oil and gas company to list in London when it floats on AIM later this week; it hopes to raise 15 mln stg - Sunday Telegraph
* STHREE, the IT recruitment specialist, looks at London float; a value of between 350 mln stg and 450 mln is being placed on the business - Saturday Independent
* London Stock Exchange halts WHITE NILE trade again because of "concerns about the orderliness of the market"
* WHITE NILE sends a furious complaint to the Financial Services Authority about the dealings and commentary of Simon Cawkwell, the bear raider - Sunday Telegraph
* WHITE NILE agrees to allow shareholders who are effectively locked into their investment to sell up to 35 pct of their holding - Saturday Telegraph
* REGAL PETROLEUM understood to be considering a sale of its Ukrainian assets and returning part of the proceeds to shareholders - Sunday Telegraph
* PFIZER hit by reports that Viagra may cause blindness - Saturday Independent
* Belgian brewer INBEV pays SCOTTISH & NEWCASTLE 67 mln stg for the British marketing and distribution rights for Beck's beer
* SABMILLER takes control of India's second-biggest brewer Shaw Wallace, raising its stake to 50 pct from 49 pct in a 19.7 mln stg deal
* INTERNATIONAL GREETINGS to acquire Anker International for up to 35.5 mln stg in a mixture of cash and shares
* LOCH FYNE RESTAURANTS, the seafood chain put up for sale last week, in talks with Tootsies owner URBAN DINING about a possible 35 mln stg deal - Sunday Express
* MANCHESTER UNITED chief executive David Gill sells 1.6 mln stg of shares awarded under the executive incentive scheme
* Glazer saves himself 22 mln stg at MANCHESTER UNITED; tax-efficient financial instruments cut purchase costs and could alleviate fans' debt fears - Saturday Telegraph
* Companies controlled by the Phoenix Four, who have been criticised for making as much as 40 mln stg for themselves from bankrupt car maker MG Rover, stand to make millions of pounds from its collapse, according to documents released by administrator PriceWaterhouseCoopers - Saturday Telegraph
* Bidders handed secret MG Rover files - Sunday Express
* Screwfix, the tool business owned by KINGFISHER, raided by police who have arrested 25 employees for working illegally - Saturday Telegraph
* AVEBURY TAVERNS, one of Britain's largest tenanted-pub group, to be put up for sale for up to 250 mln stg - Sunday Times

SATURDAY PRESS COMMENT
FT
THE LEX COLUMN comments on WHITBREAD (it would take a brave bidder at current levels), Hedge funds, Diamonds (diamond markets should dazzle for some time to come, but not all rock stocks will be real gems), HVB/UNICREDITO (HVB shareholders should take advantage of the bid speculation to sell) - NORD ANGLIA (more than adequately valued) at 13 times current year's earnings) - ARLA FOODS UK (with a p/e of 10 times, it is the best bet in the dairy sector) - Weekend share watch: UNILEVER (best to resist any calls to 'Act on Impulse'), SOCO INTERNATIONAL (some analysts suggest that the good news may already be priced in), AUTOLOGIC HOLDINGS (on a forward p/e of 5.5; this looks undemanding but the shares are unlikely to rise until the CAT issue is resolved and there is evidence of recovery in the group's key markets) - LONDON MARKET: ZINCOX (talk it will soon produce a positive update on its US recycling plant) - ANALYST WATCH: CORUS (merger could resolve metal fatigue; steelmaker's shares have been underpinned by hopes of industry consolidation but other strategies are needed, too - MONEY & BUSINESS p.23)

Express
MARKET REPORT: EGG (reheated bid talk), GUS (break-up talk), CSR (could be in the sights of US group Marvell and Sigmatel; more upside for the shares is the perceived likelihood that its Bluetooth chipsets would be supplied for Sony's PS3 computer games console), GB GROUP (bid talk), AIT GROUP (bid talk)

Telegraph
QUESTOR COLUMN: MITCHELLS & BUTLERS (still one to keep on your tab), BIZSPACE (still worth buying), SCHRODERS (well worth holding)

Guardian
Market forces: GUS (talk of venture capital groups potentially making a bid for the business before it can execute the break-up plan outline this week), FIREONE (trailed in recent weeks as a competitor to e-wallet developer NETELLER, is coming to the market on June 2 through an AIM flotation expected to value the business at more than 120 mln stg)

Independent
PRIVATE INVESTOR: Sean O'Grady says he won't buy more VODAFONE, although he is quite happy to retain his existing holding); he sells MATRIX COMMUNICATIONS and places the proceeds into WILLIAM HILL - NO PAIN, NO GAIN: Derek Pain reluctantly accepts WOLVERHAMPTON & DUDLEY BREWERIES' 46 mln stg cash bid for JENNINGS BROTHERS - MARKET REPORT: PARKDEAN HOLIDAYS (rumours it has received a bid approach at between 270-280 pence)

Times
STOCK MARKETS: IMPERIAL TOBACCO (shares fall ahead of Tuesday's long-awaited judgment in the McTear case in Scotland), MAJESTIC WINE (speculation that Kaupthing is building a stake)

Mail
MARKET REPORT: GB GROUP (with ID stealing currently a red hot topic in crime-ridden Britain, GB, which has a growing data authentication business, should prosper) - INVESTMENT EXTRA: Brian O'Connor says if the Asian boom lasts, XSTRATA looks cheap; likely bid candidates among miners are INCO, LIONORE and FIRST QUANTUM, according to John Meyer at Numis Securities

SUNDAY PRESS COMMENT
The Business
THE ALCHEMIST: Clem Chambers says buy shares in the Nasdaq market; that's shares in the exchange itself, ticker NASDAQ:NDAQ; it's a US stock, but worth putting yourself out for - SMALL-CAP INVESTOR: TREATT (a solid investment, but it may be best to see if the share price falls back before considering buying) - AIM INVESTOR: EMPRESARIA (buy) - BENCHMARK: Ian Watson comments on VODAFONE, MARKS & SPENCER, SCOTTISH POWER (all three seem to have rediscovered their love of shareholders as they feel the pressure from predators and from increasing competition), SHELL and the North Sea (Shell said at last month's results that it had struck oil with a UK well - yet to be announced - another Big Cat), WILLIAM MORRISON SUPERMARKETS (it would be unwise to throw a captain overboard in a hurricane, but Sir Ken's recent performance has shown that the old grocer is nearing his sell-by date)

Mail on Sunday
COMPANIES AND MARKETS: KINGFISHER (sales slump at B&Q puts boss in firing line), ALLIED DOMECQ (Constellation Brands and Brown Forman on track to deliver an offer in the next few weeks), ROLLS-ROYCE (expected to announce soon it has appointed an approved supplier of high-tech engines for a new aircraft to be built by Airbus), RADICLE (the British firm that buys Australian farms to raise 13 mln stg by floating on AIM); SECRET DEALINGS: NUMIS (AAA-rated fund manager Guy de Blonay bought about 62,000 shares this month for his New Star Global Financials fund; his total stake is 165,000 shares, or 0.16 pct; also buying was AA-rated Peter Webb, whose Free Spirit fund controls a million shares) - MIDAS: FDM (buy); MIDAS UPDATE: ZYTRONIC (hold), HEALTHCARE ENTERPRISE (should be tucked away for the long term), BARCLAYS (continue to hold)

Sunday Telegraph
Equity view - BLUE CHIP VALUES: AMEC (long-term buy), BPB (keep buying); Look who's trading: RENSBURG SHEPPARDS (investors should follow the directors and buy); SMALL CAP COMMENT: SPEEDY HIRE (keep buying), VENTURE PRODUCTION (a risky buy), BABCOCK INTERNATIONAL (keep buying), OAKDENE HOMES (buy) - THE NUMBERS GAME: Tony Jackson says DS SMITH looks to him a safe and reliable investment

Observer
THROG STREET: Heather Connon comments on SCOTTISH POWER (in the longer term, E.ON or RWE of Germany may be tempted (to bid); another potential suitor is SCOTTISH & SOUTHERN ENERGY), BARCLAYS (there is a risk that unemployment will accelerate; if that happens, banking will not be the place to be)

Sunday Times
EMI is humming a merger tune again; the tie-up with WARNER MUSIC has been on-off for years, but the time could now be right for a deal (BUSINESS p.12) - JUDGMENT DAY: SHOULD YOU BUY SHARES IN ULTRA ELECTRONICS Andy Brough, fund manager at Schroders, and Tim Steer, fund manager at New Star, both say buy - INSIDE THE CITY: SANCTUARY (talking to potential partners; it is hard to see the stock, which is trading on a p/e of eight, getting any cheaper), PILKINGTON (it will never be a get-rich-quick stock, but Pilkington is one of Britain's few industrial success stories); MARKET MOLE: CARDPOINT (hot on the heels of the May profits warning, Giles Hargreave offloaded the Marlborough Special Situation fund's 250,000 share stake; at the same time, Mark Slater unloaded 260,000 shares, which left his Marlborough Slater Recovery fund with 840,000, or 1.4 pct, of the 75 mln stg company) - DIRECTORS' DEALS: MARKS & SPENCER (chairman increases holding by acquiring 100,000 shares); SOCO INTERNATIONAL (chairman acquires 130,000 shares and now holds 6.6 mln shares, or 9.2 pct)
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