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Traders Thread & Thoughts - Tuesday 27th May (VOD)
Crocodile - 25 May 2003 11:27
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S&P &Futures (Click for latest)
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Pre Market Futures (7:30) | |
| FTSE | -2 | ||
| TechMark | -1 | ||
| DAX | -5 | ||
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Hang Seng -31
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Nikkei -113
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DOW | -7 |
| S&P | -2.8 | ||
| Nasdaq | -2 | ||
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News Headlines:
The release of U.S. consumer confidence, due at 1400 GMT, willbe eagerly awaited! Vodafone reported a forecast-beating 26 percent rise in annual core earnings and said it expected further revenue growth this year. Profits came in at 12.679 billion pounds compared with analyst forecasts ranging from 12.12 billion and 12.65 billion pounds. The total dividend increased 15 percent to 0.8983 pence per share. GUS is set to sell its home shopping unit to the Barclay brothers, the Sunday Telegraph reportedBritish Airways will meet later this week to discuss its strategic options in the light of a proposed tie-up between Virgin and BMI BAE The Financial Times reported in its Monday edition renewed hope that the defence firm could secure a 700 million pound Hawk jet order from India.BAT A Little Rock, Arkansas, jury granted a $19 million award against BAT subsidiary, Brown & Williamson Tobacco., in a tobacco liability case, a company spokesman said after the close of London's market on Friday. Invensys The engineering firm is close to selling Dutch software unit Baan for around 80 million pounds. Amec engineering has won an $85 million Chinese deal. British house prices fell for the second month in a row in May in the latest sign that the country's property boom has fizzled out.
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Crocodile - 25 May 2003 11:28 - 3 of 5
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Sunday News 25th May New outbreak of SARS in Canada |
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| Branson planned BA takeover but now BA may buy Virgin Allied Irish in 300m Rusnak lawsuit Rivals lash regulator over failure to ban BT's spoiling tactics Laws Irish food giants outpace their global rivals Ryanair Holdings, CRH And finally... Tough times but no excuse for these miserly dividends BAE Systems could sink 9bn aircraft carrier alliance Pay fiasco may force Glaxo into American merger British Airways Airline odd couple consider marriage US finance chief joins Aberdeen Asset Management board Tchenguiz to press ahead with offer for Selfridges Orange co-founder joins board at C&W |
Agenda: British Airways, Carlton, Granada Kensington Group Mortgage chiefs sale raises house price fears Sharewatch: Telecom Plus A Share in the Boardroom: JD Wetherspoon Glaxo resists the bitter pill Virgin moves into BA sights Thistle Mining rewards chief with a 70% pay rise Guardian group sounds out bid for Capital Radio Orange co-founder joins board at C&W M&S joins rush into homeware TIPS: DCC, Euromoney, Land Securities, MyTravel, Securicor |
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| Services provider DCC saw its shares rise 40p last week to close at 842 1/2p, following results showing a 13.2% year-on-year rise in operating profits, and analysts are confident the shares still have some way to go. Chief executive Jim Flavin has promised growth, organically and by acquisition, and we share his confidence. At 186 1/2p shares in Telecom Plus, which offers gas, electricity and telephone services, have almost tripled since the autumn of 2001 and trade on 28 times forecast earnings. But the big win is in selling more services to a growing customer base. Do not be surprised if full-year pre-tax profits beat KBC Peel Hunt's forecast of 5.5m. | ||||||||
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GUS Barclay brothers to snap up C&W restructuring kicks off BA considers bid Vodafone Gent to get 5m for his final year Paragon eyes Britannic Money Kingfisher bows to investor pressure Active Value backs Cordiant plan Pearson WestLB considers legal action against FT TIPS: Anglo American, Burberry, Liontrust, Patsystems, St Mowden, Topps Tiles |
City Comment GlaxoSmithKline Meet HSBC's $37m man 33m is still missing at Izodia BT, HSBC Call centres take the passage to India mm02, Vodaphone The 3G bubble is finally pricked BT Broadband Ben Market Miscellany: Selfridges Orb sells Thistle hotels for 650m |
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| BURBERRY'S share price has risen sharply over the past year from 150p to 238 1/2p. But last week the group warned sales had been hit by the war in Iraq, the Sars epidemic and fear of terrorism. Given Burberry's dependence on its check design, we see little prospect of further upside and a lot of risk. Sell. Diversified mining group Anglo American's share price has risen from 828p in August to 920p now. Continuing steady growth in the big markets for raw materials such as China should mean there is more to go for. Keep Buying. | ||||||||
| Observer | GSK faces threat of new revolt Thistle hotels in 700m deal GlaxoSmithKline Wake up Sir Christopher - the bull market's over Invensys to shock City with 1bn loss Selfridges Persian playboy goes shopping Anglo American 'profited from killings' BA in battle to stop Virgin merger |
GlaxoSmithKline Investors in revolt against bosses' feeding frenzy Sainsbury Time running out for Davis Trinity Mirror Media diary Selfridges Spotlight falls on vogue for complex share deals Arcadia Group Cheapside Radice's relaxed vision for future of M&S Unilever Cleaning up on bright ideas |
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| Independent | HSBC As global tourists get cold feet, let's hope we won't all be heading to Skegness this year Euro-probe forces British Energy closer to the brink Tesco: Barclays, Payments for failure at 17 FTSE 100 firms 1bn power deal revolt, Scottish and Southern Energy |
Man Group The Lowdown: Hedge funds are 'victims of their own success' Dropping the burden BT Group British Airways EU set to fight US over air subsidies |
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| Abbot lines up 36m BP contract Granada, Carlton Major savings for broadcasters Vodafone quiet on G3 as Gent goes on a high Sky's the limit as construction boss Barr plans busy retirement Thistle do nicely for mining firm directors PPL board moves to shut out corporate financier |
Scottish & Southern, HBOS For a few billion barrels more: exciting oil sequel in prospect Royal Bank in bidding for US credit card business Market waits to see if GUS will decide to hang up its Burberry Abbot lines up 36m BP contract Menzies boss aims to triple profits within a year |
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| Express | ENERGY group Centrica's residential supply business has added 200,000 customers, and its share of the gas market stands at 64% and electricity at 23%. It has hinted that it may exit from the troubled Goldfish credit card business and the business services division continues to see growth. Buy at 178 1/2p. Despite underperforming its UK peers since the beginning of the year, tobacco maker Gallaher looks set to bounce back. Fears that the German Government will impose increased duty on cigarettes look overplayed. Worth buying at 610 1/2p as it could leap to 735p. The arrival of a new chief executive at Cable & Wireless and resolution of an outstanding 1.5bn tax liability cannot ease problems caused by the cash-draining Global division, which may end in a costly sell-off. Time to offload at 93.75p. ICI's new boss John McAdam has undertaken a review aiming to cut costs, but a lack of planned disposals is not good news. With few signs of growth the group is set to struggle on from disappointing first-quarter results that saw pre-tax profits fall 21% to 52m. Sell at 137p. Restructuring has left Scottish Power with a solid balance sheet and improved cashflow. Cost savings are ahead of schedule. At 363 3/4p the shares are cheap compared with UK peers. It must be considered a buy. | |||||||
| Cropper, Dana, Get Group, Punch Taverns, Whittard | ||||||||
| Codascisys, Invox, JKX Oil & Gas, Thistle Mining, Topps Tiles, Windsor | ||||||||
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Crocodile - 27 May 2003 07:28 - 4 of 5
Teddy Bear - 27 May 2003 11:39 - 5 of 5
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