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Traders Thread - Friday 8th April (TRAD)     

Greystone - 07 Apr 2005 18:00


Digger - 08 Apr 2005 12:40 - 9 of 11

The following is a compilation of results for UK smaller companies due out in the two weeks to April 22.

MONDAY APRIL 11
Pipex Communications PLC. Investec Securities forecasts year to December pretax profit 6.0 mln stg vs loss 8.2 mln.

TUESDAY APRIL 12
Fibernet Group PLC. Arbuthnot Securities forecasts six months to January pretax loss 2.1 mln stg vs loss 3.9 mln.

Invu Inc. Arbuthnot Securities forecasts year to January pretax profit 300,000 stg vs loss 600,000 stg.

Lok'n Store Group PLC. Baird Equities forecasts six months to January pretax loss 100,000 stg vs breakeven.

Thomson Intermedia PLC. Baird Equities forecasts year to January pretax profit 600,000 stg vs loss 600,000.

WEDNESDAY APRIL 13
Moss Bros Group PLC. Baird Equities forecasts year to January pretax profit 5.4 mln stg vs 1.0 mln; total dividend 2.1 pence vs 1.0.

THURSDAY APRIL 14
Austin Reed PLC. Teather & Greenwood forecasts year to January pretax loss 4.0 mln stg vs profit 1.2 mln.

FRIDAY APRIL 15
International Energy Group PLC. Investec Securities forecasts year to December pretax profit 13.5 mln stg vs 10.7 mln; total dividend 6.47 pence vs 6.02.

ukbetting PLC. Arbuthnot Securities forecasts year to December pretax loss 800,000 stg vs loss 4.3 mln.

little woman - 08 Apr 2005 16:11 - 10 of 11

I wonder if the FTSE will go back above 5000 this month?

Digger - 10 Apr 2005 14:35 - 11 of 11

MARKETS
FTSE 100 4,983.6 up 6.6
FTSE 250 7,265.10 up 25.60
DJIA 10,461.34 down 84.98
Nasdaq Comp 1,999.35 down 19.44
S&P 500 1,181.18 down 9.96
Gold 426.20 usd (427.10 usd)
Oil - Brent May 52.89 usd (54.04 usd)

BREAKING NEWS - WEEKEND
* Phoenix Venture Holdings, the parent of MG Rover, poised to follow the troubled car manufacturer into administration - Sunday Telegraph
* Phoenix Four face DTI finance probe; Rover bosses cash in while carmaker goes into meltdown - Sunday Express
* The four businessmen who bought MG Rover for 10 stg facing an investigation into the millions of pounds in payments they took from the stricken company - Independent on Sunday
* We'll build Rovers in Shanghai, say Chinese; Shanghai Automotive Industry Corporation paid 67 mln stg four months ago for the rights to build the Rover 75, the smaller Rover 25 and the K-series engines; Now SAIC is preparing to use the expertise to make Rovers in its factories - Mail on Sunday
* Chinese hold veto on Rover asset sales; Shanghai secures rights to car maker for just 67 mln stg; call to examine Rover's books and directors' cut - Observer
* Rover name is already owned by the Chinese - Sunday Times
* Government considering a partial rescue of MG Rover, the Midlands car manufacturer which was was placed in the hands of administrators on Friday - The Business
* Scramble to limit Rover fallout; Blair and Brown travel to Birmingham for talks over collapse; jobs loss threat in marginal Labour seats; PwC moves in to assess options for company - Saturday FT
* Rover directors facing threat that the new Pensions Regulator may force them to meet part of the cost of the 400 mln stg shortfall at the company's pension fund - Saturday Times
* Questions last night asked about 200 mln stg of MG Rover cash and assets which do not appear in published accounts - Saturday Guardian
* Alchemy Partners boss, Jon Moulton, ruling out a return to Longbridge and believes MG Rover's remaining assets could be worth less than 100 mln stg - Saturday Mail
* Boeing to strike back at Airbus with the launch in a few months of a new version of the venerable Boeing 747 called the 747 Advanced; BRITISH AIRWAYS may become one of the first customers - Sunday Times
* CENTRICA has held talks with Norwegian utility Norsk Hydro about a merger to create a 19 bln stg international energy giant; Sir Roy Gardner, Centrica's chief executive, understood to have discussed in detail a nil-premium deal with Norwegian counterpart, Eivind Reiten; negotiations said to have stalled recently after pressure from Norwegian government, which owns almost 44 pct of Norsk Hydro - Sunday Times
* ROYAL BANK OF SCOTLAND holds talks to buy Bank of China stake; sources say China's second-biggest lender has held talks with the Edinburgh bank that could result in RBS acquiring a stake ranging from 5 pct to 20 pct which, at the upper end, could cost the bank around 4 bln usd - The Business
* ROYAL BANK OF SCOTLAND in talks to take 2 bln stg strategic stake in Bank of China - Sunday Telegraph
* CADBURY SCHWEPPES exploring a 750 mln stg sale of its European beverages arm, which includes brands such as Oasis and orangina - Sunday Times
* DIXONS review could lead to sale of The Link chain of phone shops; bankers believe the business is worth up to 200 mln stg - Sunday Times
* At least six private equity firms, including JP Morgan Partners and Blackstone Group, circling BOOTS as they consider launching bids each worth about 5 bln stg - Saturday Times
* At least four potential bidders, including CVC Capital Partners and Texas Pacific, which owns Debenhams, understood to be running their slide rules over BOOTS - Saturday Independent
* Barry Clare, former head of the healthcare business of BOOTS, understood to be looking at leading a bid for the division - Sunday Telegraph
* Concateno, the cash shell, considering a 460 mln stg counter-bid for EAST SURREY HOLDINGS - Sunday Telegraph
* MARKS & SPENCER's own broker Cazenove cuts its profit forecast ahead of the retailer's trading update next week, raising fears that gloomy sales will prompt a raft of earnings downgrades - Saturday Mail
* MARKS & SPENCER chairman Paul Myners will come under fire this week when the beleaguered retailer delivers what are widely expected to be more bad sales data - Sunday Express
* High street sales worsened in March, despite the sunny weather over the Easter bank holiday and widepread discounting in stores - Sunday Express
* Pernod Ricard and Fortune Brands set to make an offer of more than 7 bln stg for ALLIED DOMECQ as early as this week - Independent on Sunday
* Bacardi understood to be against mounting a rival 7 bln stg bid for ALLIED DOMECQ if takeover talks at the UK spirits group result in a formal takeover offer from Pernod Ricard - Saturday FT
* Hicks Muse may join bidders for ALLIED DOMECQ - Saturday Independent
* PEARSON faces a shareholder revolt at this month's annual meeting over a controversial 831,000 stg bonus paid to chief executive Marjorie Scardino - Mail on Sunday
* Global managing editor of REUTERS makes a gaffe of Ratner-like proportions by describing the information group's output as "having terrible quality problems", in an email distributed throughout the group - Independent on Sunday
* Chairman of AIM-quoted biotech firm, MEDICAL MARKETING INTERNATIONAL, asks London Stock Exchange to investigate an extraordinary 58 pct fall in his company's share price in just 10 days; bear raid follows the publication of a sell note by a biotech analyst at KBC Peel Hunt - Sunday Times
* Jamie Oliver playing hardball in negotiations over whether he will remain as the face of J SAINSBURY - Sunday Telegraph
* A scramble to control unexploited mineral rights in South Africa prompts TABLE MOUNTAIN, fronted by PR executive Adam Reynolds, to float on AIM tomorrow - Observer
* New Star Asset Management, the fund manager set up four years ago by John Duffield, preparing to float in October - a year later than originally planned - Sunday Telegraph
* Malcolm Glazer reopens talks with MANCHESTER UNITED; it is understood that advisers to the Glazer camp will present a final offer of 790 mln stg, or 300 pence a share, to the board - Sunday Telegraph
* Birol Nadir, a son of Asil Nadir, the fugitive businessman who fled Britain after the collapse of his Polly Peck business empire, can be revealed as the secret investor behind a recent flurry of stakebuilding in ARSENAL - Sunday Times
* NCP, Britain's biggest commercial car park operator, appoints Citigroup to consider selling the business with a price of about 500 mln stg - Mail on Sunday
* Manifesto pledge to hold on to Royal Mail set to please Labour loyalists and unions - Saturday FT
* Government slated for inadequate records; auditor general blames Department for Work and Pensions; 1 bln stg switches from National Insurance Fund to Treasury - Saturday Telegraph
* Lord Sharman front-runner to chair insurer AVIVA when Pehr Gyllenhammar retires - Saturday FT
* Philip Green pays less than 10 mln stg to France's Etam Developpement for 210 UK Etam stores - Saturday Mail
* Climbdown over split trust levy; regulators backtrack on rise in charge on fund managers to cover compensation; independent financial advisers will pay more - Saturday FT
* LONDON MERCHANT SECURITIES expects to make a profit from the flotation this summer of Prostrakan, the specialist pharmaceuticals company - Saturday FT
* British online betting companies win a major boost in the fight for legitimate access to the US, the biggest gambling market in the world, after the World Trade organisation tells Washington to open up to overseas internet gambling operators - Saturday Independent
* Casinos and bingo company GALA lining itself up for a near 2 bln stg flotation following the passage of the new Gambling Bill - Saturday Independent
* MEAN FIDDLER, the music festival and concert company, agrees to a 60 pence-a-share takeover offer from Gaiety Investments
* Heron Corporation blocks resolutions at CREST NICHOLSON's annual meeting that would have allowed the board to issue or buy back shares
* KKR joins bid contest over Bob the Builder; KKR is backing the Lions Gate bid for HIT ENTERTAINMENT, according to media industry sources - Observer

SATURDAY PRESS COMMENT
FT
THE LEX COLUMN comments on commodities (with careful selection, there is evidence that a little oil (and coca) can soothe a troubled portfolio), US housing, EU tax, BRITISH ENERGY (with oil prices flying, there is probably some near-term upside; but investors should remember not to rely on nuclear assets for defence - Weekend share watch: GREAT PORTLAND ESTATES (it has sold unwanted regional assets and is now 77 pct in the West End, with the remainder in the City; in relative terms, the west End is the place to be - the City occupational market is still "savage", one agent says - but rental recovery has been slow), XANSA (the market has yet to value fully the recovery story), FULMAR (well positioned to cope with any upturn and, in the meantime, offers a 5 pct yield) - ANALYST WATCH: BRITISH AIRWAYS (cost-cutting gives you wings; the airline's turnround has been solid, but it is not immune from the various risks facing the industry)

Times
STOCK MARKETS: COLT TELECOM (European bid speculation), LUMINAR (suggestions that the 130 mln stg auction of its Chicago Rock Cafe and Jumpin' Jaks chains has attracted first-round bids from Trevor Hemmings, owner of Blackpool Tower, and GI Partners; also rumoured is the rejuvenated REGENT INNS), AGGREKO (talk of a bid that could value it at about 650 mln stg, with General Electric cited as a possible buyer) - TEMPUS: Robert Cole points out that it is cigarette makers that have enjoyed new labour's term of office most

Telegraph
THE MARKET: AGGREKO (rumours of a bid from the likes of General Electric or Caterpillar) - QUESTOR COLUMN: NORTHERN FOODS (best avoided for now), GAMES WORKSHOP (avoid for now), IDEAL SHOPPING DIRECT (risky buy)

Independent
No Pain, No Gain: PROFILE MEDIA (Derek Pain says the group appears in need of more capital and would expect news of shareholders being tapped for more cash - or asset sales) - MARKET REPORT: EASYJET (talk that 10 pct shareholder, Icelandair, is looking to add to its shareholding), MEDICAL MARKETING INTERNATIONAL (bear raid intensifies), BTG (hopes FDA will soon give the group's Varisolve treatment for varicose veins the green light)

Guardian
Market forces: SOMERFIELD (talk that Baugur has returned with an indicative offer at 205 pence a share), FIRST CALGARY (speculation that Gaz de France is considering making a bid)

Mail
INVESTMENT EXTRA: Guest writer Colin McLean, managing director of SVM Asset management, says pick energy stocks to beat the bubbles; AEROBOX (an order would work wonders, so hold on; if the shares fall to 12 pence, cut your losses) - MARKET REPORT: TABLE MOUNTAIN MINERALS (market debut on Monday; analysts expect the shares, placed at 5 pence, to rocket)

Express
MARKET REPORT: SCOTTISH & SOUTHERN ENERGY (hopes it will consider higher dividend payouts), GUS (speculators buy into rumours that the demerger of its Experian credit-checking operation could be completed more quickly than expected), GAMING INSIGHT (renewed speculation it is close to a deal to take it into the Asian gaming market), VIROTEC (renewed speculation it is close to announcing a US deal), LODORE RESOURCES (rumours it is about to acquire gas drilling rights across the Atlantic)

SUNDAY PRESS COMMENT
The Business
THE ALCHEMIST: Clem Chambers comments on SCI ENTERTAINMENT (if you are going to jump in, do so once the (EIDOS) deal goes final then, going forwards, take your lead from the SCi directors) - THE BEST OF THE BROKERS: DANONE (food and drink group mulling some disposals), MARKS & SPENCER (deep discounts at M&S may be panic measures), SAGE GROUP (after a strong recovery, Sage looks expensive) - AIM INVESTOR: MEDICAL HOUSE (buy) - SMALL-CAP INVESTOR: HAVELOCK EUROPA (buy) - FUND OF THE MONTH: THAMES RIVER HEDGE PLUS FUND - BENCHMARK: Grant Clelland comments on Rover's problems (boring cars and meddling Labour), BOOTS (I can't help feeling that the days of high street health and beauty chains are numbered), Russia investment

Mail on Sunday
MIDAS: The two newcomers to the Dogs of the Foostie portfolio are BOOTS and BAT; they replace FRIENDS PROVIDENT and SCOTTISH & NEWCASTLE; value of 10,000 stg invested in the Dogs of the Footsie is 13,521 stg against 8,863 stg for that invested in the Footsie - MIDAS UPDATE: SPORTINGBET (hold) - COMPANIES AND MARKETS: ALLIED DOMECQ (predators gather as Allied weights up bid), CLC GROUP, which maintains local authority housing, and PLATINUM MINING CORPORATION OF INDIA to join AIM), VANCO (the American oil and gas exploration company is eyeing an AIM float), SPORTS NETWORK GROUP (will deliver a strong set of results tomorrow)

Observer
THROG STREET: Oliver Morgan comments on the oil industry (oil giants go on the prowl; Yukos fallout and tax changes have virtually closed Russia off)

Sunday Telegraph
Equity View - BLUE CHIP VALUES: YELL (still attractive; buy), INVESTEC (hold on); Look who's trading: WOLSELEY (US chief executive exercises 60,400 options at 467 pence before selling at 11.16 stg; investors should buy); SMALL CAP COMMENT: INTERMEDIATE CAPITAL GROUP (hold on), PROTHERICS (keep buying), FDM GROUP (buy), ATTENTIV SYSTEMS (accept the offer - there seems little chance of a rival bid) - NUMBERS GAME: RENTOKIL INITIAL (Tony Jackson explains why he is not following the tune of this rat catcher)

Sunday Times
JUDGMENT DAY: SHOULD YOU BUY SHARES IN ROTORK Andy Brough, fund manager at Schroders, and Tim Steer, fund manager at New Star, both say buy - INSIDE THE CITY: Dominic O'Connell comments on JD WETHERSPOON (shares look a bit fully valued for any immediate (takeover) interest, but we still think they are a buy), AIR PARTNER (we still think it is a buy, but don't expect a repeat of the company's recent record run); MARKET MOLE: SHIRE PHARMACEUTICALS (Andrew Green sold his Gam UK Diversified unit trust's remaining 336,000 shares last month) - DIRECTORS' DEALS: SPORTINGBET (Mark Blandford, executive director and founder, cuts his holding by 17 pct; he sells 2.5 mln shares at 260 pence, leaving him holding about 4 pct)
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