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News Headlines:
The Nikkei average ended trade at a fresh 20-year closing low on Monday following a shock earnings report by Sony last week Scottish and Newcastle confirmed it was to put all its 1,450 managed pubs, restaurants and lodges up for sale to focus on brewing and drinks expansion. Stagecoach said it expected to deliver profit at the top end of current market expectations. The firm is in talks to sell part of its Coach USA business, said it expected April revenues at its Hong Kong unit to be around a quarter less than last year due to SARS. Scottish & Newcastle said on Monday it made an offer of 310 pence per share for Bulmer Cordiant advertising said it had lost a contract with Allied Domecq Plc which would have a big impact on operating profits from 2004. WPP Standard & Poor lowered its long-term corporate credit and senior unsecured debt ratings on the giant advertising firm to BBB+ from A- due to the difficult trading conditions it faces.Shell said it has received information that "criminal elements" could blow up a storage vessel for one of its oil fields off Nigeria, putting at risk production capacity of 170,000 barrels per day.RBOS , Abbey National have wrote off their investments in the Le MeridienBT is poised to lift its self-imposed ban on takeovers to assuage fears its sales could decline,
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Sunday News 28th April 2003 A crisis meeting has been called by bankers to discuss the future of Le Meridien, the international hotel chain Directors of Selfridges have given bidders for the upmarket department-store group 10 days to submit their best takeover offers Brown accused of wild optimism as confidence in economy slumps Fear over the cost of the Sars outbreak continued to undermine shares in companies with extensive operations in Asia yesterday, with Prudential one of the biggest fallers in the FTSE 100 |
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UTC moves ahead with bid talks for Chubb Easyjet boss may sue film distributors Statoil seeks North Sea bidders Doubts over C&W chiefs record Interbrew leads bevy of bidders thirsting for Bulmer cider BAE banks on demos to distract shareholders CSFB struggles to stay in bulge bracket Booming Soco knows the drill A Share in the Boardroom: Peel Holdings Share of the week: Amey Enterprise Network: On a roll with rock music An Post close to giving Ryan stamp of approval |
Brennan to withdraw 20m airlines subsidy Today FM in tune with 2.5m profit Viridian looks solid but has little spark Scotland: Aberdeen deal delayed Chrysalis retunes to radio Metronet finds 314m black hole in Tube contract Vodafone in talks to buy independent Manchester United hires Cazenove HSBC as an adviser to the club and to ward off any potential hostile bidders Stock Markets: Sars fears continue to weigh on investors Celltech hit as asthma drug trials abandoned |
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| Matalan threatens Poundstretcher suppliers Scottish & Newcastle selling pubs division Aviva seeks to merge Morley after profits collapse to 5m Selfridges deadline in takeover auction Abbey to offload offshore insurers |
Pearson City Comment PowderJect to be sold for 500m Entrepreneurs to up Somerfield bid RBOS Meridien falls into hands of its lending banks |
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| Observer | HSBC's new man set to make $60m Thistle Hotels Fresh blow for Orb as Thistle sale turns sour Takeover threat puts Man Utd fans on alert |
GlaxoSmithKline, BT, Hanson, HSBC Exposed: cosy world of the perk ethic Chrysalis deal points way for TV production |
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| Independent | Invensys headache heads to Chicago Aberdeen Asset Management Cash crisis could end split capital investors' legal case Leeds United Ridsdale had to go to keep Leeds Utd investors onside | Oxford Glycosciences Rumble in the Square Mile jungle Carlton The Lowdown: A ruthless priest - Gerry Robinson reinvents himself Barclays, When a sick borrower is just what the doctor ordered for the bank Granada The Lowdown: A ruthless priest - Gerry Robinson reinvents himself | ||||||
| Malcolm Group Malcolm's link Plunging drug sales give AstraZeneca investors a bitter pill to swallow Former Astra Zeneca director joins drugs firm Strakan HSBC,RBOS, HBOS Banks coining it in at head of Scots corporate league Murray's Midas touch Selfridges Financial Hunter snaps up 15m Office chain Mining levy a thorn in the side for Thistle Mining Thwarted S&N still on track to buy Bulmers Aggreko Strong oil to have a say in trading statements |
Granada, Carlton Media watchdog fails to provide a clear picture Celtic Resources Funny old week of two halves House of Fraser Hunter snaps up 15m Office chain Stagecoach slowed by virus and Coach USA John Menzies Master of the company makeover Beat goes on and on as Capital Radio decides on Thus WPP JWT targets Leith agency RBOS RBS to bring new Harvard to Scotland |
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| Buy P&O (PO.L) at 195p - Detica (DCA.L) at 265p - Metnor (MTG.L) at 161p - Monterrico Metals (MNA.L) at 75p. Anglo Pacific (APF.L) - VT Group (VTG.L) - Dobbies Garden Centres (DGC.L) - Homestyle (HME.L). Sell Woolworths (WLW.L) at 35p - James Halstead (JHD.L) at 280p - Kingston Communications (KCOM.L). | ||||||||
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- 27 Apr 2003 11:51
- 4 of 5
- 28 Apr 2003 07:28
- 5 of 5
| UK, US and European results this week | |||||||||
| Result Date | Company name | Country | Results | Consensus Rec | No Anl | EPS | Revenue | ||
| 28-Apr | Ambient | GB | FY | 2.00 | Outperform | 2 | |||
| 28-Apr | Macdonald's Corp | US | Q1 | 2.61 | Hold | 18 | 1.32 | 15,828 | |
| 28-Apr | PPL Therapeutics | GB | FY | 3.25 | Hold | 4 | -10.10 | 1 | |
| 28-Apr | Procter & Gamble | US | Q3 | 1.73 | Outperform | 11 | 4.06 | 43,060 | |
| 28-Apr | ABB | CH | Q1 | 3.52 | Hold | 29 | 0.18 | 25051 | |
| Tuesday | |||||||||
| 29-Apr | ABN Amro | NL | AGM | 2.39 | Outperform | 38 | 1.59 | ||
| 29-Apr | Alexandra | GB | FY | 2.00 | Outperform | 2 | 8.10 | 74 | |
| 29-Apr | Allianz | D | AGM | 2.95 | Hold | 23 | 2.80 | ||
| 29-Apr | BASF | D | Q1 | 2.43 | Outperform | 28 | 2.57 | 33025 | |
| 29-Apr | Bijou Brigitte | D | FY | 1.50 | Buy/Outperform | 2 | 5.43 | 119 | |
| 29-Apr | Bookham Technology | GB | Q1 | 3.00 | Hold | 7 | -30.20 | 100 | |
| 29-Apr | BP | GB | Q1 | 2.88 | Hold | 32 | 29.00 | 108921 | |
| 29-Apr | British American Tobacco | GB | Q1 | 2.38 | Outperform | 16 | 67.54 | 11382 | |
| 29-Apr | Cewe Color Holding | D | FY | 1.67 | Outperform | 3 | 2.69 | 450 | |
| 29-Apr | E.I. DuPont de Nemours | US | Q1 | 2.38 | Outperform | 16 | 1.81 | 25,314 | |
| 29-Apr | European Motor Holdings | GB | FY | 2.33 | Outperform | 3 | 14.50 | 450 | |
| 29-Apr | Fraport | D | FY | 2.22 | Outperform | 23 | 1.75 | 1942 | |
| 29-Apr | Hawesko Holding | D | FY & Q1 | 2.75 | Hold | 4 | 1.64 | 278 | |
| 29-Apr | IDS Scheer | D | Q1 | 1.85 | Outperform | 13 | 0.45 | 197 | |
| 29-Apr | Infineon | D | H1 | 3.13 | Hold | 38 | -0.36 | 5943 | |
| 29-Apr | Jenoptik | D | FY | 2.50 | Outperform | 11 | 0.84 | 2086 | |
| 29-Apr | McGrawHill Companies Inc | US | Q1 | 2.68 | Hold | 13 | 3.20 | 4,994 | |
| 29-Apr | Merck | D | Q1 | 3.31 | Hold | 26 | 1.63 | 7686 | |
| 29-Apr | Northop Grumman Corp | US | Q1 | 2.11 | Outperform | 18 | 3.81 | 25,482 | |
| 29-Apr | Oxford Glycosciences | GB | FY | 3.42 | Hold | 15 | -58.40 | 14 | |
| 29-Apr | SAP Systems Integration | D | Q1 | 2.50 | Outperform/Hold | 14 | 0.71 | 302 | |
| 29-Apr | Sartorius | D | FY | 2.00 | Outperform | 1 | 0.43 | 493 | |
| 29-Apr | Syzygy | D | Q1 | 2.00 | Outperform | 3 | 0.19 | 16 | |
| 29-Apr | Takkt | D | Q1 | 2.67 | Hold | 6 | 0.63 | 814 | |
| 29-Apr | Westbury | GB | FY | 2.11 | Outperform | 9 | 57.90 | 773 | |
| Wednesday | |||||||||
| 30-Apr | Aberdeen Asset Management | GB | H1 | 2.50 | Outperform/Hold | 7 | 9.89 | ||
| 30-Apr | Adidas-Salomon | D | Q1 | 2.24 | Outperform | 26 | 5.75 | 6850 | |
| 30-Apr | AstraZeneca | GB | Q1 | 2.43 | Outperform | 45 | 99.07 | 11030 | |
| 30-Apr | Blacks Leisure | GB | FY | 1.67 | Outperform | 9 | 22.90 | 217 | |
| 30-Apr | Celanese | D | Q1 | 2.39 | Outperform | 18 | 1.99 | 4596 | |
| 30-Apr | Clear Channel Communications | US | Q1 | 1.80 | Outperform | 25 | 1.27 | 8,765 | |
| 30-Apr | Deutsche Bank | D | Q1 | 2.70 | Hold | 37 | 2.69 | ||
| 30-Apr | Duke Energy Corporation | US | Q1 | 3.17 | Hold | 24 | 1.39 | 20,403 | |
| 30-Apr | E.ON | D | AGM | 2.35 | Outperform | 34 | 3.97 | 45419 | |
| 30-Apr | Exelon Corporation | US | Q1 | 2.53 | Hold | 17 | 4.90 | 15,640 | |
| 30-Apr | Game Group | GB | FY | 2.62 | Hold | 13 | 5.94 | 531 | |
| 30-Apr | GFK | D | FY | 2.00 | Outperform | 8 | 1.10 | 597 | |
| 30-Apr | GlaxoSmithKline | GB | Q1 | 2.92 | Hold | 39 | 81.81 | 21701 | |
| 30-Apr | Intershop Communications | D | Q1 | 3.50 | Hold/Underperform | 3 | -0.05 | 49 | |
| 30-Apr | Metro | D | FY | 2.34 | Outperform | 30 | 1.47 | 54267 | |
| 30-Apr | Pressac | GB | FY | 3.00 | Hold | 2 | 1.00 | 134 | |
| 30-Apr | Rugby Estate | GB | FY | 3.33 | Hold | 3 | 89.60 | ||
| 30-Apr | Schering | D | Q1 | 2.11 | Outperform | 38 | 2.55 | 5266 | |
| 30-Apr | Schwarz Pharma | D | Q1 | 2.22 | Outperform | 9 | 5.96 | 1941 | |
| 30-Apr | Splendid Medien | D | FY | 5.00 | Sell | 1 | -3.44 | 36 | |
| 30-Apr | The Southern Company | US | Q1 | 2.86 | Hold | 21 | 1.84 | 10,811 | |
| 30-Apr | Whitbread | GB | FY | 2.50 | Outperform/Hold | 18 | 50.25 | 1868 | |
| Thursday | |||||||||
| 1-May | Imperial Chemical Industries | GB | Q1 | 2.68 | Hold | 19 | 17.15 | 5841 | |
| 1-May | Jennings Brothers | GB | FY | 3.00 | Hold | 1 | 16.40 | 17 | |
| 1-May | John David Group | GB | FY | 3.50 | Hold/Underperform | 8 | 24.69 | 406 | |
| 1-May | Phytopharm | GB | H1 | 2.40 | Outperform | 5 | -10.10 | 2 | |
| 1-May | Shiloh | GB | FY | 1.00 | Buy | 1 | 11.30 | 45 | |
| 1-May | Shire Pharmaceutical | GB | Q1 | 2.63 | Hold | 19 | 34.37 | 744 | |
| 1-May | Thompson Corp | US | Q1 | 2.56 | Hold | 16 | 1.14 | 8,020 | |
| 1-May | Tyco International Ltd | US | H1 | 1.67 | Outperform | 12 | 1.43 | 30,077 | |
| 1-May | The Walt Disney Corp | US | H1 | 2.41 | Outperform | 29 | 0.64 | 26,749 | |
| Friday | |||||||||
| 2-May | Giardino Group | GB | FY | 2.50 | Outperform/Hold | 2 | 7.40 | 24 | |
| 2-May | Shell Transport &Trading | GB | Q1 | 2.50 | Outperform/Hold | 26 | 27.46 | 96288 | |
| 2-May | Unilever | GB | Q1 | 2.05 | Outperform | 22 | 41.41 | 31434 | |
| 24th Apr | 25th Apr | Change | Consensus Rating | Broker Change | |
| Amvescap | 3.36 | 3.43 | -2.1% | Hold | DKW downgrades rating to "sell" as the broker feels the stock's recent strength following the rally in US equities provides an opportunity to sell. |
| Anglo American | 2.67 | 2.71 | -1.5% | Hold | Smith Barney lowers its rating to "underperform" as the broker believes that BHP Billiton's and Rio Tinto's exposure to higher margin commodities will allow them to outperform Anglo American |
| AstraZeneca | 2.48 | 2.49 | -0.4% | Outperform | Ahead of Q1 results on 30th April brokers remain divided, ranging from Williams who say "sell" to UBS who says "buy. Given the division the rating continues to falter. |
| British Land | 2.15 | 2.23 | -3.7% | Outperform | CSFB's recent look at the property market has shown that the several key property areas have continued to weaken. CSFB revises its forecast on British land to "neutral" as a result |
| Canary Wharf | 3 | 3.11 | -3.7% | Hold | CWG is also downgraded by CSFB to "underperform" as part of the broker's review of the property sector, which highlighted CWG's key market in Central London as one of the markets that has weakened |
| Granada | 2.78 | 2.86 | -2.9% | Hold | TV forecast advertising figures for June reveal a further decline in the advertising market. Merrill notes that comparables were tough, but admits that after its strong run recently GAA may suffer as this news filters through the market |
| Hilton Group | 2.82 | 2.91 | -3.2% | Hold | Conditions in the hotel sector are expected to remain volatile in the short term following the war in Iraq and now the SARS virus, which in turn causes the ratings for key hotels stocks to suffer |
| Liberty International | 3.21 | 3.14 | 2.2% | Hold | Following its strong first half performance in shopping centres, CSFB has upgraded its rating to "neutral" from "underperform" |
| Prudential | 2.7 | 2.7 | 0.0% | Awaiting Change | Morgan Stanley has downgraded PRU following its concerns for the group's tight cash flow |
| Vodafone | 2.12 | 2.11 | 0.5% | Outperform | Merrill reiterates its positive view on the European telecom market and Deutsche also issues a positive note on the telecom giant in which it lifts its forecast ahead of FY results on 27th May |