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Traders Thread - Friday 23rd May (SXC)     

Crocodile - 22 May 2003 23:21

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Gold

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fpDJIA.gqplus?511 marketwatch-ss.img?symb=SP500 fpNASDAQ.gqplus?183

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S&P &Futures (Click for latest)

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 Pre Market Futures (7:30)
FTSE +1
TechMark +1
DAX +10

Hang Seng +141

Chart

Nikkei +133

Chart

 DOW +32
S&P +2.9
Nasdaq +5

 

News Headlines:    US stocks stocks rallied as a spike in Altria shares lifted the Dow and surging biotech and software stocks pushed the Nasdaq higher. The FTSE futures are flat but after a strong night in the Far East and positive US futures I would not be surprised to see the FTSE up over 50 points at some point today.

Wolverhampton & Dudley: 1st quarter profits fall but the results were at the top end of forecasts and the group had an upbeat outlook.

Scottish & Newcastle Several newspapers cited vague market speculation that the UK brewer would tie up with a rival. The Guardian newspaper said the talk was rekindled by comments from Pernod Ricard's chairman that the French drinks giant would be in a position to do deals by the end of the year. The Independent newspaper reported some market participants as saying a deal with Denmark's Carlsberg would make strategic sense.

Waste Recycling may be set to recommend an offer from Hands within the next two weeks, the Times newspaper reported.British Airways The head of Europe's biggest airline said he saw a chance that demand for air travel would revive in 2004 after this year's slump. Scottish Radio Holdings: said on its first-half group operating profit from continuing items rose 41 percent to 9.6 million pounds (Media shares jump?)Revised domestic first-quarter GDP figures are scheduled for release at 0830 GMT.

Calendar

All GMT

 ukf.gifUnited Kingdom (F)inals (I)nterim usf.gifUnited States (Click Flag) euro.gifEurope & World

Fri 23rd May

 

 

 

AGM

Scottish & Southern Energy (F)

Scottish Radio (I), Castings(F) Wolves & Dudley (F)

AGM Celltech Group Colt Telecom Group, Fleming Mercantile Investment Trust International Power, Meggit WM Morrison Supermarkets, Rotork Shell, WM Morrison Supermarkets

UK GDP

    
Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com

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Insider trader - 23 May 2003 07:40 - 2 of 2

Morning all. This table indicates how broker recommendations for key FTSE companies have changed in the last 24 hours. It details how great the rating change has been and reasons for this change. The consensus recommendation gives a numerical rating where 1=Buy, 2=Outperform, 3=Hold, 4=Underperform and 5=Sell.
  21st May 22nd May Change Consensus Rating Broker Change
Abbey National 2.83 2.75 arrowup.gif 2.8% Hold WLBP reiterates its "buy" rating despite the shares climbing 50% in recent weeks. It has set a 646p target price.
British American Tobacco 2.38 2.44 arrowdown.gif -2.5% Outperform A Florida court's decision to overturn the original ruling against BAT cause Deutsche to up its target price to 710p from 670p. But Goldman Sachs downgraded to in-line from outperform believing there is little room for improvement.
Compass Group 2.25 2.2 arrowup.gif 2.2% Outperform Morgan Stanley ups its rating to Outperform with a 345p target price, believing we will see another year of strong operational performance.
Dixons 2.65 2.59 arrowup.gif 2.3% Hold Merrill Lynch restates its "sell" position as trading remains tough and downside risks remain.
Great Universal Stores 2.41 2.35 arrowup.gif 2.5% Outperform UBS Warburg, DKW and Deutsche Bank all reiterate their positive ratings ahead of next week's results.
Granada 2.71 2.64 arrowup.gif 2.6% Hold Investec restates its "buy" rating and 135p target following the results. Meanwhile Merrill lowers revenue targets but raises earnings and profit numbers to reflect improved efficiencies.
Marks & Spencer 2.85 2.77 arrowup.gif 2.8% Hold Teather & Greenwood ups its rating to "hold" believing shares are recovering and cashflow is strong enough to support a buyback programme. Charles Stanley reiterates its "buy" rating.
National Grid Transco 2.42 2.18 arrowup.gif 9.9% Outperform JP Morgan lowers its fair value estimate to 515p from 556p to reflect adverse US dollar movements. HSBC reiterates its "buy" rating and 475p target price despite NGT's 7% premium to the sector. It believes NGT's share buybacks limit the downside risk.
Reuters 3.59 3.26 arrowup.gif 9.2% Hold Morgan Stanley moves to "overweight" from underweight and increases its target price to 220p from 130p. It is now more optimistic over product improvements and competitor capacity and believes outstanding risks to forex and pricing are already reflected in its estimates. WLBP also ups its rating to "buy".
Rolls-Royce 3.47 3.56 arrowdown.gif -2.6% Hold CSFB reiterates its "underperform" rating because of concerns over a owrsening travel industry postion.
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