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Traders Thread - Monday 1st November (TRAD)     

Greystone - 31 Oct 2004 14:28

Greystone - 31 Oct 2004 14:29 - 3 of 28


Greystone - 31 Oct 2004 14:29 - 4 of 28

Greystone - 31 Oct 2004 14:29 - 5 of 28

Big thanks to mostrader for a terrific "Thoughters" article this week. I'm sure you wll all enjoy it.

(mostrader is visiting family in Spain this week, so he'll probably not be able to see it himself, bit I'm sure he will pick up your comments the moment he finds an internet cafe.)

I hope the markets will get a boost this week when the US Presidential election is over - not matter who wins. So long as it doesn't come down to a protracted legal battle like last time.

Here's to a great week for us all!

G.

Digger - 31 Oct 2004 14:32 - 6 of 28

MARKETS
FTSE 100 4,624.2 down 18.6
FTSE 250 6,321.8 down 4.7
DJIA 10,027.47 up 22.93
Nasdaq Comp 1,974.99 down 0.75
S&P 500 1,130.20 up 2.76
Gold 426.25 usd (425.72 usd)
Oil - Brent Dec 48.98 usd (48.37 usd)

BREAKING NEWS - WEEKEND
* Blair plans snap election in February; prime minister seeks to
exploit 'Baghdad bounce' after Iraqis elect new government - Sunday
Telegraph
* Jeroen van der Veer and SHELL bosses set for huge pay rises; merger
paves way for radical bonus shake-up - Sunday Telegraph
* Allan Leighton, former boss of Asda and now chairman of Royal Mail,
poised to make a dramatic 5 bln stg bid for J SAINSBURY; Leighton would
prefer to make his offer of about 300 pence a share in the New Year -
when Christmas trading should give an indication of the group's
prospects - but sources say he could mount an offer almost immediately
if a competing approach emerges - Mail on Sunday
* Allan Leighton working on possible bids for up to three companies,
including J SAINSBURY - Sunday Telegraph
* Bidders circling J SAINSBURY warned that one of the largest family
shareholders is not a seller at the current share price; Andrew Cahn, a
trustee of the Gatsby Charitable Trust, Sainsbury's fourth-largest
shareholder with a 5 pct stake, believes the retailer is currently
undervalued - Sunday Times
* Private equity investors planning to approach the Sainsbury family
with an audacious takeover proposal fronted by former Asda chiefs Allan
Leighton and Archie Norman; the proposal would allow the Sainsbury
family, which owns 34 pct of the shares, to retain some equity in a new
company - The Business
* J SAINSBURY cooling its long-standing relationship with Goldman Sachs
because of concern over potential conflicts of interest following the
investment bank's backing of Philip Green's attempted bid for MARKS &
SPENCER - Saturday FT
* J SAINSBURY planning to appoint Morgan Stanley to advise it on
defending itself against a potential bid, according to sources close to
both parties - Saturday Independent
* Bin Laden shocks US; Al-Qaeda intervenes in presidential election
with video threat of fresh terror attacks on American people - Saturday
FT
* CENTRICA emerges as a leading contender for the 400 mln stg stake
being sold by BP in Ormen Lange, the Norwegian gas field - Sunday
Telegraph
* HILTON, the hotelier, identifies Blackpool as the location for its
first 200 mln stg Las Vegas-style casino - Sunday Times
* Rupert Murdoch working on audacious plans to manage all betting
transactions in bookmakers, on the internet and in casinos - Observer
* LEGAL & GENERAL, SCHRODERS and Fidelity - the world's biggest fund
manager, which famously led the shareholder coup at Carlton last year -
are the City heavyweights behind demands for the scalp of Jonathan
Bloomer, chief executive of PRUDENTIAL - Sunday Times
* Michael McLintock, head of PRUDENTIAL's fund management arm M&G,
being touted by rebel shareholders as a favoured replacement for the
insurer's under-fire chief executive, Jonathan Bloomer - Independent on
Sunday
* Goldman Sachs and Carlyle Group looking at making a last-ditch 1.6
bln stg-plus counter-offer to break up the agreed sale of WARNER
CHILCOTT - Sunday Telegraph
* BAE SYSTEMS selected for a combat vehicle contract worth 620 mln stg
by the Dutch government - Sunday Telegraph
* RYANAIR and EASYJET preparing to challenge the proposed 3.5 bln stg
expansion of Stansted airport, claiming that it poses a threat to the
low-cost airlines; the two companies are outraged that airport operator
BAA wants the airlines to fund the development through higher landing
charges - Independent on Sunday
* VODAFONE to unveil its long-awaited 3G services next week amid
criticism from analysts that it may have missed the boat - The Business
* Iraq situation fuels recruitment crisis at AMEC - Sunday Express
* ROYAL BANK OF SCOTLAND launches a new mortgage company, First Active,
to take advantage of new rules implemented by the Financial Services
Authority as it takes over regulation of the UK's mortgage market - The
Business
* ABN Amro staff fear that huge job cuts will accompany news of the
Dutch bank's third-quarter results due out on Monday - The Business
* Deutsche Bank to cut jobs as performance falls - Saturday FT
* BRITANNIC GROUP believed to be close to paying up to 300 mln stg for
the closed insurance book of Cornhill Insurance - Sunday Express
* Advertisers and radio groups will this week call for a Competition
Commission inquiry into the proposed merger between CAPITAL RADIO and
GWR; this could delay the deal by up to six months - Independent on
Sunday
* CLARITY COMMERCE SOLUTIONS to buy rival Baron LRMS for up to 600,000
stg - Sunday Times
* At least four foreign mining companies (LONMIN of the UK, Placer Dome
and SouthernEra of Canada and Aquarius of Australia) planning to sue the
South African government for expropriation in a move that may set a
costly precedent - Saturday FT
* HARMONY receives a significant fillip over the weekend, with
Institutional Shareholder Services recommending to its clients who own
shares in the South African gold mining firm, that they vote for the
proposed merger with GOLD FIELDS at the special meeting scheduled for
Nov 12
* AIM-listed miner AFRICAN GOLD expected to receive up to 3 mln stg in
funding next week from institutional investors to develop gold mines in
Ghana ahead of a larger fundraising next year - Sunday Express
* Workers' health crisis pushes MG Rover to the brink; safety experts
investigate lung disease fears - Sunday Express
* ASTRAZENECA faces new calls to withdraw its cholesterol-lowering
treatment, Crestor, amid claims that it causes more kidney damage amd
muscle-wasting than rival products - Saturday FT
* Battle breaks out for control of OFEX as it receives a bid from
Shield Investments, a special-purpose vehicle backed by a group of City
investors - Saturday FT
* National Australia Bank expected to receive two serious bids next
week for the sale of its Irish banks, which are together valued at about
1.39 bln stg; LLOYDS TSB and HBOS expected to go head to head to win
control of Northern Bank, based in Belfast, and Dublin's National Irish
Bank - Saturday FT
* Oddbins, the wine retailer, poised to buy Unwins, its high street
rival, for up to 50 mln stg in a deal that would end 75 years of family
ownership at the firm - Saturday Times
* ITV sells its 18 pct stake in Australian media company Village
Roadshow for 36 mln stg
* Ascent Media thought to be out of the running to acquire ITV's The
Moving Picture Company; new frontrunner believed to be Technicolour,
part of French group Thomson - Sunday Express
* EUROTUNNEL, the troubled operator of the channel link, announces a
cost-cutting programme and warns that its finances "remain fragile" -
Saturday Independent
* Photographic retailer JESSOPS forced to slash its float price as
investors' fears about the economic outlook overshadow its market debut;
it had wanted to issue shares between 185 pence and 220, but was forecd
to opt for a listing at 155 - Saturday Mail
* Malcolm Glazer, the US sports mogul stalking MANCHESTER UNITED,
prepared to drop a key condition in his attempt to win the backing of JP
McManus amd John Magnier, the largest shareholders - Mail on Sunday
* Broker EVOLUTION on the point of being fined 400,000 stg by the
Financial Services Authority for its role in a shares scandal involving
AIM-listed ROOM SERVICE, now renamed AZURE HOLDINGS - Mail on Sunday

SATURDAY PRESS COMMENT
FT
Deutsche Bank (considering the difficulties of firing German employees,
workers in London and elsewhere are more likely to be shown the door),
Japan (investors counting on another massive bout of intervention might
yet be wrong-footed), Sagem/Snecma, Metro (if a company like Metro
cannot even cope with whatever is thrown at it by the weather gods, it
should break itself up into more manageable pieces - and leave the task
of diversifying to investors) - AVIVA (trades at an 11 pct premium to
Commerzbank's forecast of its embedded value excluding goodwill; this is
still short of the PRU's 30 pct premium but Aviva should continue its
momentum against its distracted rival) - INTECHNOLOGY (the real growth
is expected in three years time) - Weekend share watch: CARPHONE
WAREHOUSE (if it can continue to meet the uncertain challenges ahead,
its premium rating is justified), DIGNITY (must find a way to expand
without leaving too large a corporate footprint), LAURA ASHLEY
(full-year pretax profit forecast to come in at between 3.56 mln stg and
4.2 mln, putting the shares on a forward p/e of 43 and making them as
unattractive as some of those 70s fashions) - MY PORTFOLIO: John Lee
uses proceeds of the WINTRUST bid to buy WYEVALE

Times
YELL GROUP (threat posed by the popularity of internet search engines)
- EMAP (speculation it is close to launching a bid for the 72 pct of
SCOTTISH RADIO HOLDINGS it does no own) - PIPEX COMMUNICATIONS (stock
overhang cleared) - Tempus: CENTRICA, HILTON GROUP, WILLIAM HILL,
KINGFISHER, BAA, SMITHS GROUP (all these would form the basis of a
long-term portfolio that is likely to be of more value than a straight
punt on the banks and oil-dominated FTSE 100) - STOCKWATCH: DELTEX
(seems a promising speculative play)

Telegraph
ITM POWER (speculation it will shortly announce a major breakthrough on
its fuel cell technology) - QUESTOR COLUMN: WOOLWORTHS (buy),
ANTOFAGASTA (take profits), FINSBURY FOODS (one to keep in the larder)

Guardian
EDINBURGH OIL & GAS (Buzzard holding could be worth 270 pence a share)
- LONDON STOCK EXCHANGE (bid speculation) - EBOOKERS (bid rumours
continue to swirl) - BELHAVEN (talk that two Scottish institutions,
Standard Life and Scottish Widows, are looking to sell their stakes
because of the prospect of a smoking ban in Scotland)

Independent
Private Investor: Rodney Hobson comments on SOMERFIELD (this could be
the time to get in on the cheap as it gets back into expansion mode),
BARRATT DEVELOPMENTS/PERSIMMON (look pretty solid to me), CORUS (I have
an aversion for lossmaking companies unless I am convinced they will
move into sustainable profits and start paying up; Corus doesn't quite
stack up) - No Pain, No Gain: Derek Pain comments on ALLIED DOMECQ (I
would not chase the shares at current levels but they remain a strong
hold), RENTOKIL INITIAL (an outstanding recovery gamble), STAGECOACH (I
have changed my mind about the treatment of Stagecoach's capital
repayment; instead of reducing my buying price I have reinvested the 18
pence a share handed back to shareholders), AVON RUBBER (worth hanging
on to), PRINTING.COM (fair value 40 pence), MERRYDOWN and BURTONWOOD
(strong holds), S&U (worth hanging on to), DATACASH (still looks a buy),
MACLELLAN and WYATT (I am wondering whether to give them the old
heave-ho) - HIT ENTERTAINMENT (bid rumours) - MERRYDOWN (vague
suggestions it could attract the attention of a predator)

Mail
IDEAL SHOPPING DIRECT (tune in for the sound of ringing tills in the
run-up to Christmas) - INVESTMENT EXTRA: WINCANTON (keen to stay
independent; but there are biggger players roaming the highways;
Germany's Kuehne & Nagel, with which Wincanton operates joint ventures,
is only one of the potential buyers; Wincanton's market value is just
two months' sales; cheap), SOCO INTERNATIONAL (worth a punt)

Express
WEEK OF DEALING: WSP GROUP (director buys 100,000 shares at 222 pence),
SINCLAIR PHARMA (director buys 500,000 shares), DOMINO'S PIZZA (two
directors sell 666,000 shares between them at 200 pence)

SUNDAY PRESS COMMENT
The Business
AIM INVESTOR: EUROPEAN NICKEL (speculative buy) - SMALL CAP INVESTOR:
LA FITNESS (good value) - BENCHMARK: Grant Clelland comments on SHELL
(it may be too early to celebrate Shell going Dutch), Electricite de
France, Marsh & McLennan

Mail on Sunday
COMPANIES AND MARKETS: EMAP (poised to make an offer for the whole of
SCOTTISH RADIO HOLDINGS), CARPHONE WAREHOUSE (to launch its broadband
internet service), WHITBREAD (likely to ditch the TGI Friday's
restaurant chain unless it performs significantly better); SECRET
DEALINGS: EUROPEAN DIAMONDS (AAA-rated fund manager Patrick Evershed of
New Star this month bought 750,000 shares for the New Star Select
Opportunities fund; Brian Weston also bought recently and his
Framlington Innovative Growth investment trust now has 650,000 shares) -
TAKING STOCK: Simon Watkins comments on benchmark index (FTSE at mercy
of BP and 103 bln stg Shell), LONDON STOCK EXCHANGE (only a matter of
time before a bid approach is made) - MIDAS: HALFORDS (we would be happy
to buy at these levels and would hope for a gain of at least 15 pct
between now and next spring), FIRST CHOICE (buy)

Sunday Express
CARPHONE WAREHOUSE (sources say chief executive Charles Dunstone will
tomorrow launch TalkTalk Broadband as one of the cheapest broadband
services in the UK)

Sunday Times
Telecoms minnows heading for a fall. BT's rivals face a tough winter of
harsh competition. Without industry consolidation some businesses will
go to the wall (BUSINESS p.9) - JUDGMENT DAY: SHOULD YOU BUY SHARES IN
SURF CONTROL Andy Brough, fund manager at Schroders, says stay out of
the water, while Tim Steer, fund manager at New Star, says avoid -
INSIDE THE CITY: UNILEVER (needs to ditch its blame culture), HAMPSON
(still a minnow, but it clearly has some big ideas); MARKET MOLE: TATE &
LYLE (Henry Maxey, who has a Citywire AAA-rating, recently sold the
Ruffer Income fund's entire 640,000-share stake; AA-rated Stephen
Whittaker, by contrast, retains a 1.1 mln-share stake for the New Star
UK Growth fund) - DIRECTORS' DEALS: PRUDENTIAL (director Mark Wood buys
25,000 shares at 397 pence; Wood now has just over 570,000 shares)

Observer
THROG STREET: SHELL (it must persuade people that it has changed from a
two-headed monster into a single-minded beast of conviction to see its
shares up to 5 stg, where they ought to be), Rover (show the door to
Rover's top dogs)

Independent on Sunday
BRITISH AIRWAYS (rumour that BA's headhunters have approached John
Lewis' outgoing managing director, Luke Mayhew, about a possible
position on the board)

Sunday Telegraph
Dunstone bundles into broadband. CARPHONE WAREHOUSE has already signed
up 650,000 customers for its fixed-line service. Now it wants to sell
them high-speed internet access (BUSINESS p.3) - BLUE CHIP VALUES:
WHITBREAD (readers should now take some profits, and hold some for the
long term), ROLLS-ROYCE (keep buying); Look who's trading: WH SMITH
(directors buy stock; the shares (336-1/4 pence) reflect optimism about
the new management, but are risky); SMALL CAP COMMENT: Brains Trust
portfolio update: DYSON, RADSTONE and MCBRIDE all remain top 10
holdings, as do SPRING GROUP, PSD and ACAL, despite their poor returns;
major new holdings include JKX OIL & GAS; another favoured share is RPC
GROUP; top 10 also includes TRIFAST; the fund managers have become more
bullish on JOHNSON SERVICE GROUP - TAKING STOCK: Edmond Jackson comments
on BLACKS LEISURE (I may be missing a quality growth share), NASDAQ
listings (a rule of thumb: buy shares on the expectation of a Nasdaq
listing and sell on the event), STERLING ENERGY (a "buy" - but beware)

Digger - 31 Oct 2004 14:36 - 7 of 28

The Sunday Times reported today that Andrew Cahn, a trustee of the Gatsby Charitable Trust -- Sainsbury's fourth-largest shareholder with a 5 pct stake -- believes that the retailer is currently undervalued.
In a rare interview, Cahn revealed that the charity had abandoned a disposal programme in recent months.
The charity, which owns more than 100 mln shares in Sainsbury, had been selling up to 300,000 shares a year -- a move prompted by a change in the law which recommended that single-share trusts diversify their investments.
Cahn's comments will be interpreted as a warning that any bidder will have to pay a substantial premium to Friday's closing price of 258 pence.

little woman - 31 Oct 2004 15:59 - 8 of 28

Evening all,

I'd like to thank everyone who has contributed to this thread. An excellent read.

mbbcat - 31 Oct 2004 16:57 - 9 of 28

As usual an interesting read & thanks to the contributors BUT
While it is interesting to read about a traders biography & methods
The thoughts used to be a place for independnt market analysis

& That part is sorely missing & missed imo

Greystone - 31 Oct 2004 18:19 - 10 of 28

Valid point mbbcat. I'll work on it. Thanks for the comment. :-) G.

jj50 - 31 Oct 2004 19:23 - 11 of 28

Evening and thank you mostrader - really interested to read your trading methods. Food for thought!

Goalkeeper - 31 Oct 2004 19:38 - 12 of 28

mostrader - excellent post; thanks for sharing and good luck to all in the 'election week' :-) G

acw - 31 Oct 2004 19:49 - 13 of 28

CMC showing NADQ100 1526-1528.

Jumpin - 31 Oct 2004 20:21 - 14 of 28

Short it quick! LOL

Digger - 01 Nov 2004 07:02 - 15 of 28

MARKETS
Tokyo: Nikkei close 10,734.71, down 36.71
Hang Seng midday 13,006.30, down 48.36

BREAKING NEWS - MONDAY
* AVIVA has begun a pan-European search to find a new chairman - Telegraph
* BT GROUP to cut call costs with wi-fi - FT
* HILTON GROUP looking at entering casino market once again with 200 mln stg
Las Vegas-style casino in Blackpool - Telegraph
* RANK GROUP preparing to demerge Deluxe unit in 600 mln listing - Times
* LASTMINUTE.COM in INTERCONTINENTAL HOTELS room deal - FT
* BURBERRY has moved online in order to boost its push into America - Mail
* Jenkins family backs Numis rescue plan for OFEX - FT
* Arsenal set to score with full listing - Times
* Harmony tells JP Morgan to drop Gold Fields mandate - FT
* For sale sign on iconic shoe brand Jimmy Choo - FT
* Condom firm Sexual Health Group opts for Ofex float - Guardian
* British public deeply divided over casinos - Telegraph
* CBI calls for restraint on tax - Guardian
* UK consumers could face recycling levy on electronic equipment - Times
* Bus regulation to be limited, says transport secretary Alastair Darling - FT
* IT 'skills crisis' prompts competition fear: E-skills UK report - FT

MONDAY PRESS COMMENT
FT
Lex Column: US Election (The best result for investors will be a clean win for
either candidate...real issue for investors is whether the US economy slows
significantly next year, and how fast corporate profits grow); Chinese
Revaluation (As long as China keeps dangling the prospect of future
revaluation, it can buy more time for itself to deal with its domestic woes);
Equity analysis (Number-crunchers wanting to keep their jobs had better be
skilled at reading their own industry trend)

Independent
Small Talk: FINANCIAL DEVELOPMEMT CORP. (Although FDC still has an option to
buy Griffin, that purchase has now collapsed. Instead, FDC is a rich cash
shell looking for a reverse takeover); EDEN RESEARCH (Controversy stoked by
Reed Smith means that plans for the move up from Ofex has been delayed
indefinitely); SURGICAL INNOVATIONS (SI shares could be worth watching);
MONDAS (could become interesting to speculators); Ofex (Signs of life in Ofex,
which might justify the audacious new bid for the third-tier stock market)

Times
Smaller Stock to Watch: EUROTUNNEL (A partial debt-for-equity deal looks
increasingly likely)

Digger - 01 Nov 2004 07:05 - 16 of 28

SMITH & NEPHEW STARTED AS 'OVERWEIGHT' BY MORGAN STANLEY

Greystone - 01 Nov 2004 07:34 - 17 of 28

DFS Furniture suspended pending an announcement...

daves dazzlers - 01 Nov 2004 07:37 - 18 of 28

Morning all.

Big Al - 01 Nov 2004 07:47 - 19 of 28

Morning punters

FPL - struck oil in Algeria, nice chart
http://www.uk-wire.com/cgi-bin/articles/20041101070000P257C.html

MXC - trading statement
http://www.uk-wire.com/cgi-bin/articles/20041101070000PEDCD.html

DVS/IGL - license agreement - looks interesting
http://www.uk-wire.com/cgi-bin/articles/20041101070000P37B0.html

SPD - marketing Rangers' clothing
http://www.uk-wire.com/cgi-bin/articles/20041101070000P748E.html

OFX - rejects offer
http://www.uk-wire.com/cgi-bin/articles/20041101070000P7986.html

CHG - war pays, I guess
http://www.uk-wire.com/cgi-bin/articles/20041101070000PE588.html

FLK/COL - disposal of non-core business
http://www.uk-wire.com/cgi-bin/articles/20041101070000W2207.html

COB - acquisition
http://www.uk-wire.com/cgi-bin/articles/200411010700026545E.html

HWY - acquisition
http://www.uk-wire.com/cgi-bin/articles/200411010700066678E.html

CCS - acquisition
http://www.uk-wire.com/cgi-bin/articles/200411010700066662E.html

JHD - return of capital - might be one for the divi folk to keep an eye on
http://www.uk-wire.com/cgi-bin/articles/200411010700066656E.html

CLV - more yatching! ;-)
http://www.uk-wire.com/cgi-bin/articles/200411010700076689E.html

ITL - invests in Danish company
http://www.uk-wire.com/cgi-bin/articles/200411010700086705E.html

DET - acquisition
http://www.uk-wire.com/cgi-bin/articles/200411010700086691E.html

LOOK - VW in NE (acqisition)
http://www.uk-wire.com/cgi-bin/articles/200411010700096720E.html

RPC - acquisition
http://www.uk-wire.com/cgi-bin/articles/200411010700096719E.html

MRW - flogging Safeway store and closing another
http://www.uk-wire.com/cgi-bin/articles/200411010700096721E.html

IDOX - in line for the FY
http://www.uk-wire.com/cgi-bin/articles/200411010700096708E.html

HRR - still suspended, but trading slower than expected. Good job we can't hit 'em then! ;-)
http://www.uk-wire.com/cgi-bin/articles/200411010700116730E.html

MSQ - disposal
http://www.uk-wire.com/cgi-bin/articles/200411010700126735E.html

CAE - acquisition
http://www.uk-wire.com/cgi-bin/articles/200411010700136742E.html

SGP - trading statement full of names from years gone by
http://www.uk-wire.com/cgi-bin/articles/200411010700136741E.html

DTK - new contract. Last announcement gave a initial fillip before tailing off.
http://www.uk-wire.com/cgi-bin/articles/200411010700186760E.html

IEC - exercised Siberian option
http://www.uk-wire.com/cgi-bin/articles/200411010700196764E.html

Have a good week; it should be an interesting one. Going in with no fixed ideas! ;-)

Digger - 01 Nov 2004 08:50 - 20 of 28

LONDON (AFX) - Shares in Hays were the top blue chip faller, down more than 9 pct, in early deals as the personnel group demerged its mail business, DX Services, dealers said.
According to Citigroup Smith Barney, in the year to June, DX earned EBIT of 32.7 mln stg, on sales of 132 mln.
The broker argued this implies a valuation for DX Services of around 200 mln stg or 11.5 pence per Hays shares.
In a note to clients, the US broker said shareholders will receive 1 share in DX Services for every 20 Hays shares.
On flotation, DX should have about 85.6 mln shares in issue, which implies a DX Services share price of around 230p per share.
The broker also reiterated its 'buy' advice on Hays.
Meanwhile, Deutsche Bank said it expects Hays' share price to fall in line with the demerged price of DX, as it retained 'sell' advice.
At 8.41 am, shares in Hays were down 11-3/4 at 117, while DX was trading at 265-1/2.

Stan - 01 Nov 2004 09:02 - 21 of 28

Morning All, Looks like quite a week in store on the markets.

Digger - 01 Nov 2004 09:59 - 22 of 28

London shares - midmorning features

FTSE 100 risers
J Sainsbury 265-3/4 up 8
Bid speculation intensifies in weekend press
Smith & Nephew 472-1/2 up 10
Brokers positive ahead of Q3 results Nov 4
Antofagsta 1017 up 9
Rebound after sector falls last week; metal prices firm
BHP Billiton 564 up 10-1/2
Rebound after sector falls last week; metal prices firm
Anglo American 1215 up 21
Rebound after sector falls last week; metal prices firm
BP 535-1/2 up 8
Oil price rises
Xstrata 857 up 12
Rebound after sector falls last week; metal prices firm
Reckitt Benckiser 1,513 down 19
Good results from US peer P&G last week
Rio Tinto 1,442 up 18
Merrill says 'buy on dip'
Cable & Wireless
Ahead of results next week; KPN figures beat expectations
mmo2 106-1/2 up 1-1/4
KPN figures beat expectations

FTSE 100 fallers
Hays 118-1/4 down 10-1/2
Demerges mail ops
Abbey National 629 down 3
Poor mortgage figures last week; ahead of MPC meeting
Northern Rocks 741 down 1/2
Poor mortgage figures last week; ahead of MPC meeting
BAA 573 down 1/2
Ahead of interims tomorrow


FTSE 250 risers
Grainger Trust 1,620 up 28
Rebound after falls last week; Ahead of results
Lastminute.Com 113-1/4 up 1-3/4
In deal with InterContinental Hotels
Carphone Warehouse 168-3/4 up 2-1/4
Ahead of results Wednesday
Wood Group 145-1/4 up 1-3/4
Oil price rises

FTSE 250 fallers
Marconi 518-1/2 down 11-1/2
COO to resign with over 4 mln stg in compensation
Kidde 166-1/4 down 1-3/4
Awaits bid developments
Wilson Bowden 957 down 21
Housing market concerns
Westbury 374-1/2 down 4-1/2
Housing market concerns

Other risers
Charteris 29 up 3
Buys Cedalion for 3 mln stg
Johnston Group 432-1/2 up 32-1/2
Ennstone offer unconditional
Finsbury Food 42-1/2 up 3
"one to keep in the larder" - Questor
SP Holdings 16-1/2 up 1
Rangers contract win
Clipper Ventures 20 up 1
Buys WPP unit Global Sportnet
Aquarius Platinum 257 up 12-1/2
Rebound

Other fallers
Laura Ashley 13-1/4 down 0-1/4
Negative press comment
Tower 8.0 down 1.0
Profit taking after stake building last week
ZariResources 2.37 down 0.13
Profit taking
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