This Morning in London a profit-warning from Christian Salvesen (SVC.L) dented the shares, falling 10p to 65.25p, after the company said that second-half figures would not reach expectations. Nasdaq made an announcement today, which informed us all of the terms of the Final Offers to be made by Nightingale Acquisition Limited (a wholly owned subsidiary of the aspirant exchange Nasdaq), for the entire issued and to be issued share capital of the major market in the world, the London Stock Exchange (LSE.L). The junior's offer takes the form of 1243p per LSE Ordinary Share (cash), valuing the entire issued ordinary share capital of LSE at approximately £2.7-billion and represents an enterprise value of approximately £2.9-billion (based on LSE's net debt of £284.7-million as at 30th September 2006). The B Share Offer is in cash at 200 pence per LSE B Share (plus an amount equal to the accrued dividend), valuing the entire issued B share capital of LSE at approximately £16.5-million. The shares of LSE stand at 1290p, up 72p (47p above Nasdaq’s bid). At 9:25 the FTSE-100 stood at 6163.1, down 28.9-points.
Well it does say "Have anything you want!"
Police in Launceston, Australia, are searching for an armed robber... with an appetite. It seems that a man armed with a knife held up a pizza delivery man just before 1:30am. The man stole Aus$109 and made off with the pizzas. Police say the robber was among a group of people in the area at the time, but they have no descriptions.
Ouch... that smarts!!
A clumsy New Zealand policeman, who had been called to a domestic dispute, accidentally shot himself... and a teenager with a stun gun. The constable was loading his weapon to stun a man at the centre of the incident, when he accidentally blasted himself with the Taser's 50,000 volts. Another shot hit the man's 16-year-old son. After 5 attempts to hit the man, the officer eventually used pepper spray. Oh dear... I say oh dear, because, he only succeeded to hit the man's 21-year-old daughter - an unintended target. The wanted man eventually gave himself up. Probably because he was laughing so much!
BROKER RECOMMENDATIONS
ABN has issued a review of the European Banks, in which they have Barclays (BARC.L) and HBOS (HBOS.L) among its preferred picks.
The broker has downgraded Ladbrokes (LAD.L) to hold from buy.
Citigroup has upgraded Investec (INVP.L) to buy from hold (raising the price target to 660p from 638p) and says buy BAT’s (BATS.L).
Credit Suisse reiterates outperform on SABMiller (SAB.L).
Dresdner Kleinwort has issued a note on UK Pubs, in which they have upgraded Mitchells & Butlers (MAB.L) to buy from add, Enterprise Inns (ETI.L) to buy from add and Greene King (GNK.L) to add from hold, downgraded JD Wetherspoon (JDW.L) to hold from add and reiterated hold Wolverhampton & Dudley (WOLV.L).
Evolution has issued a note on the Oil Services, in which they have upgraded Abbot Group (ABG.L) to buy from add (400p target), Petrofac (PFC.L) to buy from add (410p target), they say buy Bateman Litwin (BNLN.L) (185p target), add Lamprell (LAM.L) (210p target), Hunting (HTG.L) (550p target) and Expro (EXR.L) (830p target) and buy Sondex (SDX.L) (330p target).
The broker has initiated coverage of Ceramic Fuel Cells (CFU.L) appending a buy recommendation and a 36p price target.
Lehman has upgraded Scottish Power (SPW.L) to overweight from Underweight (raising the price target to 800p from 570p).
Morgan Stanley reiterates overweight on Scottish & Southern Energy (SSE.L) (raising the price target to 1500p from 1240p) and has underweight on British Energy (BGY.L) (cutting the price target to 405p from 410p).
Panmure says buy Workspace (WKP.L) and has initiated coverage of BSS (BTSM.L) appending a buy recommendation and a 435p price target.
The broker says buy Greene King (GNK.L) and hold Cranswick (CWK.L).
Panmure says buy for Hutchison China Meditech (HCM.L) and has downgraded Informa (INF.L) to hold from buy (540p target price).
The broker says sell BSkyB (BSY.L) and hold Christian Salvesen (SVC.L) (downgrading forecasts).
Seymour Pierce says buy Ormonde Mining (ORM.L) and has outperform on Sareum Holdings (SAR.L).
SG Securities says hold Corus (CS.L) (463p price target) and buy Kesa Electricals (KESA.L).
UBS has upgraded Northern Foods (NFDS.L) to buy from neutral and downgraded SABMiller (SAB.L) to reduce from neutral.
The broker says buy Bank of Ireland (BKIR.L), Bradford & Bingley (BB.L) and Vedanta Resources (VED.L) (cutting the price target to 1600p from 1900p).
UBS says reduce Investec (INVP.L) (raising the price target to 570p from 520p) and has neutral for DSG (DSGI.L).
NEWS ROUND-UP
Last Friday in New York shares closed mixed, with the Dow Jones extending its winning run for a 6th-consecutive day and setting yet another record high, further boosted by a continued fall in crude-oil prices. Earlier in the day shares had fallen after a fall in October housing starts. The Dow gained 36.74-points to 12342.56 (a new record closing level), the Nasdaq fell 3.20-points to 2445.86 (breaking a winning run), while the S&P added 1.44-point to 1401.20. On the week, the Dow rose 1.9%, the Nasdaq added 2.3%, while the S&P gained 1.5%.
On this day in:-
1995 - In a controversial TV interview, Diana, Princess of Wales, wife of Prince Charles, admitted to having had an affair with Captain James Hewitt, while her husband was having an affair with Camilla Parker-Bowles.
1992 - Windsor Castle was badly damaged by fire.
1979 - Anthony Blunt, Surveyor of the Queen's Pictures, was stripped of his knighthood, after being exposed as the Fourth Man in the Burgess, Maclean and Philby spy scandal.
1974 - In Australia, British Labour MP John Stonehouse faked his own death, disappearing after leaving a pile of his clothes by the sea.
1951 - Snowdonia in Wales was designated Great Britain's first National Park.
1947 - Princess Elizabeth married Lieutenant Philip Mountbatten.
1945 - The beginning of the Nuremburg War Crimes Trial of 20 senior Nazi officials including Hermann Goering, Rudolf Hess and Von Ribbentrop. The Trial lasted 218 days.
1944 - World War II: The end of the 'blackout' in London. After 5-years in the dark, the lights were switched back on in Piccadilly Circus, the Strand and in Fleet Street.
1906 - Automotive pioneers Charles Rolls and Henry Royce collaborated to form a new car company, Rolls Royce Ltd. On the same day, in 1931, the company bought Bentley Motors.
1818 - South American revolutionary leader Simon Bolivar declared Venezuela to be independant of Spain.
1759 - A Great British fleet, commanded by Admiral Hawke, defeated a French fleet at the Battle of Quiberon Bay.
868 - St Edmund Saxon king of East Anglia, was martyred by the Vikings, who tied him to a tree, shot at him with arrows, then behead him. His body is now enshrined at Bury St Edmunds, in Suffolk.
