This Morning in London Regal Petroleum (RPT.L) fell 4.75p after it announced that it had broken off bid talks with an unnamed suitor, citing that the reason was a favourable court ruling on the ongoing litigation affecting its licences in the Ukraine. After further cogitation, investors also decided to look on the positive side and the shares climbed to 190p, up 10.5p. Albeit no longer in the running for ITV (ITV.L), Goldman has appended a 130p price value to the TV company, which incidentally is the price it was prepared to pay for the company. The shares are up 1.25p at 112.25p. Commodity prices have bolstered mining and resources stocks this morning. At 11:09 the FTSE-100 was up 21.1 at 6213.6.
This Global Warming is a perisher isn't it?
Russia is experiencing its warmest December on record, however, having said that, perhaps only in Moscow could a top temperature of 7-degrees be described as a heatwave. But in the middle of December, it is unheard of in the Russian capital. It hit the high last week and it is expected to be up at about that range again this weekend. Bears in the Moscow Zoo have not yet been able to hibernate and mushrooms are again flourishing in the forests. Scientists are reluctant to link the extraordinary weather to global warming, but it has not stopped most of the locals, who say a few extra degrees of warmth might not be a bad thing for Russia.
What an absolutely bum deal!
An art teacher in America has been suspended... after his bosses learned of his sideline... painting with his bum. Teacher Stephen Murmer, had posted a video on YouTube demonstrating his unusual technique and he even had his own website - www.buttprintart.com - which featured his work and the video. In the video, in which he places his buttocks in paint and then sits on a canvas, he goes under the name Stan Murmer and disguises himself with Groucho Marx-style glasses and moustache. His paintings, typically depicting flowers and butterflies, are priced from £250 to £450. After learning of the video, school officials at Monacan High School in Chesterfield County, Virginia, put Mr Murmer on paid leave. But Kent Willis, executive director of the ACLU of Virginia, said that Mr Murmer was a well-respected, responsible teacher who does a good job. He went on to say that away from that, he happens to be an artist, he uses a pseudonym and even disguises himself when he appears on this video. So has obviously shown respect for the school. A school spokesman said teachers were expected to set an example for students. The school board is expected to consider the case next month. School board chairman Marshall W Trammell Jr said he had seen a lot of things, concluding, "but this is probably the most unique that I've ever seen."
Altium reiterates buy Game Group (GMG.L) and says buy Spice (SPI.L) and WSP (WSH.L).
The broker says add Cattles (CTT.L) and reduce Carillion (CLLN.L) and Wilmington (WIL.L).
Bridgewell reiterates buy Afren (AFR.L) and has overweight on Cattles (CTT.L) and reiterates coverage of Capita (CPI.L) appending an overweight recommendation and a 650p price target.
The broker has neutral on Akers Bioscience (AKR.L), Ark Therapeutics (AKT.L) and Entertainment Rights (ERT.L).
Citigroup has issued a note on the UK Pubs, in which they have downgraded Enterprise Inns (ETI.L) to hold from buy and reiterate buy Punch Taverns (PUB.L) (raising the price target to 1522p from 1210p), they say buy Mitchells & Butlers (MAB.L) (raising the price target to 931p from 550p), Greene King (GNK.L) (raising the target to 1408p from 920p) and Wolverhampton & Dudley (WOLV.L) (raising the target to 2253p from 1450p) and hold JD Wetherspoon (JDW.L) (raising the price target to 787p from 625p).
The broker says buy Bunzl (BNZL.L) (raising the target to 725p from 700p) and sell Group 4 Securicor (GFS.L).
Citigroup says buy Icap (IAP.L) (cutting the price target to 565p from 585p) and Intertek (ITRK.L) and hold Johnston Press (JPR.L) (cutting the target to 400p from 420p).
The broker says buy Laird (LARD.L) (raising the target to 460p from 440p) and hold N Brown (BWNG.L) (raising the target to 270p from 295p) and Rank Group (RNK.L) (cutting the price target to 250p from 295p).
Citigroup has downgraded Drax (DRX.L) to sell from hold and RPS (RPS.L) to hold from buy.
Credit Suisse reiterates outperform on Experian (EXPN.L) (700p target).
Dresdner Kleinwort reiterates buy HBOS (HBOS.L) and has downgraded Alliance Boots (AB.L) to sell from reduce (raising the price target to 740p from 730p).
Evolution reiterates buy Cadbury (CBRY.L) and says add HBOS (HBOS.L) (960p target) and add Hunting (HTG.L) (raising the price target to 600p from 550p).
The broker says reduce PartyGaming (PRTY.L) (27p target) and buy Premier Oil (PMO.L) (1400p target) add Vastox (VOX.L) (193p target).
Exane BNP has upgraded Alliance & Leicester (AL.L) to neutral from underperform.
Goldman reiterates coverage of ITV (ITV.L) appending a buy recommendation and a 130p price target.
HSBC reiterates overweight on Rolls-Royce (RR.L) (540p target).
Lehman reiterates underweight on Alliance & Leicester (AL.L) (raising the price target to 830p from 784p) and has underweight on Pearson (PSON.L) (cutting the price target to 732p from 745p).
The broker has upgraded Northern Foods (NFDS.L) to equal-weight from underweight (raising the price target to 115p from 60p).
Merrill reiterates buy Bunzl (BNZL.L) and reiterates neutral on Alliance & Leicester (AL.L) (raising estimates).
The broker has neutral on Scottish Media (SMG.L) and Millennium & Copthorne (MLC.L).
JP Morgan has upgraded Avis Europe (AVE.L) to overweight from neutral.
Panmure Gordon says hold SPI Lasers (SPIL.L) (200p target) and reiterates buy Restaurant Group (RTN.L) (raising the target to 350p from 320p).
The broker says buy Filtronic (FTC.L) (but reduces the price target to 222p from 252p) and reiterates hold Emap (EMA.L).
Panmure has reduced the target price of Communisis (CMS.L) to 75p from 100p (cutting forecasts).
Seymour Pierce says hold Capita (CPI.L) and reiterates outperform on Daily Mail (DMGO.L).
The broker has outperform on BT (BT.L) and Vodafone (VOD.L).
UBS has neutral on Berkeley Group (BKG.L) (raising the price target to 1800p) and reiterates neutral on Hays (HAS.L).
The broker says buy Wood Group (WG.L) and Intec Telecom (ITL.L) (raising estimates) and has neutral on Bunzl (BNZL.L) (raising estimates) and Dana Petroleum (DNX.L) (1290p target).
NEWS ROUND-UP
Last Night in New York shares closed slightly better on the day, after rising crude oil prices moderated positive reaction to stronger-than-expected retail sales in November, which eased concerns about the extent of a slowdown in the economy. The release of weekly crude and gasoline inventories data put a cap on any substantial rises, as the figures showed another decline. There was excitement in the market on news of a potential merger between airlines UAL (United Airlines) and Continental Airlines. The Dow closed up 1.92-points at 12317.50, having hit another all-time high during the day of 12368, the Nasdaq added 0.81-points to 2432.41, while the S&P put on 1.66-points to close at 1413.22.
On this day in:-
1995 - A peace agreement, to end the fighting in the former Yugoslavia, was signed in Paris.
1991 - The former East German leader Erich Honecker , facing extradition to Germany and trial on manslaughter charges, was offered asylum in North Korea.
1990 - In Hong Kong , 10 Vietnamese boat people set fire to themselves to protest at the screening policy that could prevent them from settling in the West.
1989 - Opposition leader Patricio Aylwin was elected President in Chile's first free election since 1970.
1989 - The death of Soviet dissident Andrei Sakharov.
1973 - Teenager John Paul Getty II was set free by his kidnappers, after his grandfather, the oil tycoon, paid a ransom of $750,000.
1972 - US spacecraft Apollo 17 blasts off from the Moon after American astronauts had spent 3-days exploring the lunar surface. The crew left behind a plaque placedd on the ladder of the descent stage of Challenger, which reads: Here Man completed his first explorations of the moon. December 1972 AD. May the spirit of peace in which we came be reflected in the lives of all mankind. The plaque showed 2 hemispheres of Earth and the near side of the Moon, plus the signatures of the 3 crewmen, Cernan, Evans and Schmitt, and that of the then US President, Richard Nixon. Commander Eugene Cernan left a Czechoslovakian flag on the Moon because his ancestors came from Czechoslovakia.
1962 - US spacecraft Mariner II sent the first close up pictures of Venus back to Earth.
1959 - Archbishop Makarios was elected first President of Cyprus.
1939 - The world premiere of 'Gone With The Wind', at Atlanta, Georgia.
1937 - Japan established a puppet Chinese government at Peking.
1927 - Great Britain recognised the independence of Iraq.
1922 - John Reith was appointed general manager of the British Broadcasting Corporation (BBC).
1918 - Women over 30 were given the vote for the first time in a Great British general election.
1918 - The assassination of Sidonio Paes, President of Portugal.
1916 - The people of Denmark vote to sell the Danish West Indies to the United States of America for $25-million.
1913 - Greece formally annexed Crete.
1912 - Louis Botha resigned as premier of South Africa.
1911 - Norwegian Roald Amundsen became the first explorer to reach the South Pole, beating his Great British rival, Robert Falcon Scott. In early 1911, Amundsen sailed his ship into Antarctica's Bay of Whales and set up base camp 60-miles closer to the pole than Scott. In October, both explorers set off--Amundsen using sleigh dogs, and Scott employing Siberian motor sledges, Siberian ponies, and dogs. On 14th December 1911, Amundsen's expedition won the race to the Pole and returned safely to base camp in late January. Scott's expedition was less fortunate. The motor sleds broke down, the ponies had to be shot, and the dog teams were sent back as Scott and 4 companions continued on foot. On 18th January 1912, they reached the pole only to find that Amundsen had preceded them by over a month. Weather on the return journey was exceptionally bad, 2 members perished and a storm later trapped Scott and the other 2 survivors in their tent only 11-miles from their base camp. Scott’s frozen body was found later that year.
1819 - In America, Alabama officially became a member of the United States.
1542 - The accession of Mary Queen of Scots following the death of James V.
