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Traders Thread - Tuesday 23rd March (HOF)     

Crocodile - 22 Mar 2004 22:03

UK PreMarket Futures FTSE -3 DAX +10 DOW +25 S&P +2.3 Nasdaq +6.5

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Gold/Bond Pivots Markets  Futures Translate
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S&P Futures

Nikkei +54    Hang Seng -37 Asia News

DAX CAC  Euro News
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All US Major indexes fall heavily as investors react to international news, including Hamas leader badday.jpgkilling. FTSE futures are just negative but I expect a bounce into the blue.

Electrocomponents said it expected full-year profits to rise around 5% to 106 million pounds after the economic backdrop in its major markets improved.

Bloomsbury Publishing / Harry Potter reported a 38.3 percent jump in annual profits to 15.38 million pounds on in line with market expectations.

MFI Furniture Group said sales fell four percent on a same store basis over its key trading period due partly to a lack of new products. It said bedroom furniture was particularly weak

EMAP see improvement in the advertising market with volumes rising approx 9%

Beazley Group Lloyd's of London underwriter reported full-year figures 10% ahead of expectations with a profit of 17.1 million pounds and said it expected strong underwriting conditions to continue.

SABMiller the world's second largest brewer said its underlying beer volumes rose just over three percent in the first 11 months of its financial year while its operating performance remained strong.

House of Fraser reported a 11 percent rise in 2003 profits towards the top end of market forecasts at 27 million pounds, It said it was well placed to better performance this year.

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Lok'n' Store (I), MJ Gleeson (I), Alltracel Pharmaceuticals (F), Autologic Holdings (F), Beazley Group (F), Bloomsbury Publishing (F), Corac Group (F), DCS Group (F), Development Securities (F), House of Fraser (F), Intelligent Environments (F), Surface Transforms (F), Unite Group (F), Universe Group (F)

Teesland (EGM), Tissue Science Laboratories (EGM)

MFI Furniture Group (Trading update)

Family Dollar Stores McCormick & Co Goldman Sachs

Leoni AG, Wedeco AG Water Technology Kontron AG, Karstadt Quelle AG

Le Carbone Lorraine, Teleperformance Societe Rochefortaise, Sopra Group NA Ipsos

Croc@SnappyTrader.com  WWW.SnappyTrader.com

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KEAYDIAN - 01 May 2006 17:15 - 17 of 18

LONDON (AFX) - House of Fraser PLC said it has received a 'very preliminary approach' that might lead to a takeover offer for the UK's third largest department store group.

The retailer did not name its suitor but AFX News understands the tentative approach has come from Baugur Group, the acquisitive Icelandic group that last month purchased a 9.5 pct HoF stake in a 'dawn raid' orchestrated by Merrill Lynch.

A spokesman for Baugur declined to comment.

In a brief statement HoF said: 'The board of HoF notes recent press speculation and confirms that the company has had a very preliminary approach that may or may not lead to an offering being made for the company.'

The retailer made its statement after The Business newspaper said on Sunday HoF had hastily convened an emergency board meeting on Friday, prompting speculation the department store group faces a new takeover approach.

HoF, which has been pursued by several suitors in recent years, ended takeover talks with Apax Partners, the private equity firm, on March 17.

Baugur is no stranger to HoF's share register. It acquired a 10 pct holding from 2002 to 2003, before exiting with a tidy profit in 2004.

The Icelandic group also owns a 10.2 pct stake in Woolworths Group PLC the variety store retailer, and a 13.7 pct stake in French Connection Group PLC, the fashion retailer and wholesaler. It also owns a raft of UK retailers, including the Iceland supermarket chain and Hamleys toy store.

HoF shares closed Friday at 119 pence, up 3/4 pence, valuing the business at 281 mln stg.

Baugur paid up to 135 pence a share for its HoF stake. This means under UK takeover rules any takeover offer would have to be pitched at this level or above.

KEAYDIAN - 01 May 2006 17:18 - 18 of 18

OOPS, SEE HOF THREAD
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