This Morning in London newswires are reporting that Morgan Stanley is placing 7.5-million Daily Mail & General Trust (DMGO.L) 'A' shares at around the 653 – 656p level. The shares are currently standing at 653p, down 5p on the day. EMI (EMI.L) has received some interest this morning as the shares gained 12.25p, now standing up 6.75p at 277p, on 6.7-million shares traded, against a total volume of 4.34-million on Friday. The Management Buy-Out story, which has been around for a while has resurfaced. Buying interest has spurred National Express (NEX.L), which motored to a 29.5p gain, to stand at 1009.5p. At 10:36 the FTSE-100 was knocking on the door of the 6200 level, up 51.0 at 6199.1.
That's using your ol' noodle
In western Japan, police are looking for a robber who held up a noodle bar. The thing is, he paid for his meal and waited for his change before making his getaway. The robber, described as a young man, ate a bowl of "ramen" noodles and a side order of fried chicken at a restaurant in the city of Osaka, before producing a knife and forcing a waitress to hand over takings of 46,000 yen (£204). When the woman demanded he pay for his meal, the robber gave her 1,000 yen and waited for his 100 yen change before running away.
An uplifting experience (Not!!)
A company in Australia has produced the men's equivalent of the Wonderbra. The "Wondercup" range of underwear is designed to enhance the apparent size of a man's... nether region. "Aussiebum" creator Sean Ashby says it basically lifts, separates and extends. It seems the design uses all of the "natural assets of the person," whether big, small or indifferent.
BROKER RECOMMENDATIONS
ABN says buy United Business Media (UBM.L) (raising the price target to 785p from 780p) and has downgraded Rexam (REX.L) to hold from buy.
Altium reiterates buy for Work Group (WORK.L) (raising target to 110p from 100p) and says buy Zetar (ZTR.L).
The broker has downgraded Phoenix IT (PNX.L) to add from buy and says buy Anite (AIE.L) (raising target to 120p from 90p).
Bridgewell has initiated coverage of Imperial Energy (IEC.L) appending a buy recommendation.
Cazenove reiterates in-line on Micro Focus (MCRO.L).
Citigroup reiterates buy International Power (IPR.L) (345p target) and reiterates the positive view on Imperial Tobacco (IMT.L).
The broker says buy George Wimpey (WMPY.L) (617p target).
Citigroup says hold Rexam (REX.L) (550p target) and Unilever (ULVR.L).
Collins Stewart says buy Ryanair (RYA.L) (€10.30 target) and says hold FirstGroup (FGP.L) (475p target).
Credit Suisse reiterates outperform on Millennium & Copthorne (MLC.L).
Deutsche reiterates buy Mapeley (MAY.L) (raising the price target to 3900p from 3800p) and says buy Informa (INF.L), BSkyB (BSY.L) (cutting the price target to 600p from 620p) and BAE (BA.L) (raising the price target to 465p from 445p).
The broker has included AstraZeneca (AZN.L) and GlaxoSmithKline (GSK.L) among its top picks in the European pharmaceuticals sector.
Dresdner Kleinwort has upgraded Cable & Wireless (CW.L) to add from hold.
KBC Peel Hunt says buy Regus (RGU.L) and hold Zetar (ZTR.L).
Merrill has upgraded Unilever (ULVR.L) to neutral from sell and has initiated coverage of Home Retail Group (HOME.L) appending a buy recommendation and a 455p target.
JP Morgan has issued a note on the UK Water shares, in which they reiterate underweight on Kelda (KEL.L) (raising the price target to 810p from 715p) and Pennon (PNN.L) (raising the price target to 485p from 400p), downgrading Severn Trent (SVT.L) to underweight from neutral (raising the price target to 1365p from 1250p) and has neutral on United Utilities (UU.L) (raising the price target to 775p from 635p).
The broker reiterates underweight on CSR (CSR.L).
Morgan Stanley has overweight on ARM (ARM.L) (132p target).
Numis has upgraded Alfred McAlpine (MCA.L) to hold from reduce (475p target), Meggitt (MGGT.L) to buy from add (price target of 390p) and VP Group (VP.L) to buy from add (339p price target).
The broker has downgraded Phoenix IT (PNX.L) to add from buy (350p price target), St Ives (SIV.L) to hold from add (226p target) and Whitbread (WTB.L) to add from buy (1676p target).
Panmure Gordon says buy Whitbread (WTB.L) (1500p target) and sell Ladbrokes (LAD.L) (350p target).
The broker says buy Informa (INF.L) (580p target) and hold James Fisher (FSJ.L) (470p target).
Panmure says buy Hutchinson China (HMC.L) (300p target) and Aga Foodservices (AGA.L) (430p target) and hold Ryanair (RYA.L) (€8.50 target).
UBS reiterates buy Anite (AIE.L) (raising target to 105p from 99p) and says buy Micro Focus (MCRO.L) (raising the price target to 185p from 145p).
The broker says buy BSkyB (BSY.L) and Acambis (ACM.L).
UBS reiterates buy WPP Group (WPP.L) (cutting the target to 800p from 820p) and Electrocomponents (ECM.L) (300p target) and has neutral on Northern Foods (NFDS.L) and Dairy Crest (DCG.L).
NEWS ROUND-UP
Last Friday in New York shares closed lower driven by technology and financial stocks, in spite of October payrolls data confirming that the US economy was generating jobs at a reasonable pace, with unemployment dipping to its lowest level for 5-years. The Dow Jones closed down 32.50-points at 11986.04, the Nasdaq was off 3.23-points, while the S&P fell 3.04-points to 1364.30.
On this day:-
2003 - Michael Howard took over as leader of the Conservative party, after Iain Duncan Smith was ousted in a no-confidence vote.
1962 - The United Nations General Assembly adopted a resolution condemning South Africa's racist apartheid policies and called on all member states to terminate economic and military relations with the country. Following the 1960 massacre of unarmed demonstrators at Sharpeville near Johannesburg, South Africa, the international movement to end apartheid gained wide international support. However, few major Western powers, nor South Africa's other main trading powers, supported a full economic or military embargo against the country. Nonetheless, U.N. opposition grew, and in 1973 a U.N. resolution declared apartheid a crime against humanity. In 1974, South Africa was suspended from the General Assembly.
1956 - Construction began to build the Kariba High Dam on the Zambezi River between Zambia and Zimbabwe.
1956 - A ceasefire was announced between Great British, Egyptian and French forces fighting for control of the Suez Canal. It was the last major Great British parachute deployment during warfare and was led by the 3rd Battalion The Parachute Regiment.
1942 - The Church of England relaxed its rule that women must wear hats in church.
1935 - The RAF's first monoplane fighter, the 'Hawker Hurricane' made its maiden flight.
1932 - In Germany, the Nazi Party led by Adolf Hitler emerged as the largest single party in the general election.
1917 - World War I: the end of the Third Battle of Ypres when Great British and Canadian troops captured the infamous Passchendale Ridge.
1900 - In the United States of America, Republican President William McKinley was re-elected, defeating the Democrat challenger, William Jennings Bryan.
1869 - Diamonds are discovered at Kimberley in Cape Province, South Africa.
1860 - Republican candidate Abraham Lincoln was narrowly elected 16th US President.
1813 - Mexico declared its independence from Spain.
1429 - Henry VI was crowned King of England. Two-years later in Paris he was also crowned King of France.
