This Morning in London the market place seems strangely empty, as dealers have taken the opportunity to do some last minute shopping and/or extended their Christmas break. There has been interest shown in Smith & Nephew (SN.L) as speculation swirls that the medical device company may now be a ‘target’ itself. Having failed to acquire Biomet, by being pipped by a private equity company, some are suggesting that the private equity company may now be looking to acquire S&N themselves. The shares climbed 35.25p to stand at 555p. The market thinks that if Vodafone (VOD.L) decides to bid $13.5-billion for Hutchison’s Indian (Hutchison Essar) it will be grossly overpaying. The result is 3p loss on Vodafone’s share price, to 143p. At 10:40 the FTSE-100 was down 6.9 at 6191.7.
Is it a bird, is it a plane, no its... Ouch that smarts!
Twenty-five-year old Michael Holmes undertook a skydive at Taupo on New Zealand's North Island. And plunging from 15,000ft his excitement changed to terror. He fell at a speed of 100mph and landed in a bush, but thankfully the thick brambles saved his life. After the experience he says he can't wait to jump again saying that the mishap hasn’t put him off. It was a normal jump until he tried to release his parachute at 4,000ft but it didn't open and it didn't cut away. Then his reserve failed to open at 1,000ft, at which point he thought it was the end. The next thing he remembers is seeing a friend, firemen, ambulances and police dogs. Michael escaped with a punctured lung and broken ankle in the plunge and is recovering in hospital. Michael, who had jumped with a helmet camera so he could film another parachutist, described the film of his fall as "awesome, in a sadistic kind of way".
Howzat... eeee Yow!!
Twenty-three year old Ben Foster has a very admirable view on the environment, to the extent that he has invented the world’s first eco-friendly cricket box. And to prove its suitability and application he went along to Nottingham Cricket Club to test it. He carefully placed the box in the strategic area of his anatomy and the ball was bowled. I can report that the box remained undamaged... basically because he was in fact not hit on the box, but in the face, splitting his eyebrow. The ‘test’ did continue and the box stood up very well, but I think he may have to apply his mind to developing an eco-friendly helmet too.
Bridgewell reiterates buy Spice (SPI.L) and says Vectura (VEC.L), Wolfson Microelectronics (WLF.L) and Bioprogress (BPRG.L).
The broker is neutral on Tullow Oil (TLW.L).
Citigroup has downgraded British Energy (BGY.L) to sell from hold and says buy George Wimpey (WMPY.L) (cutting the price target to 680p from 690p).
The broker says hold HMV (HMV.L).
HSBC has downgraded Kelda Group (KEL.L) (raising the price target to 1016p from 937p) and William Morrison (MRW.L) to neutral from overweight (280p target) and reiterates neutral on Tesco (TSCO.L) (raising the price target to 430p from 410p).
The broker has underweight on Sainsbury (SBRY.L) (raising the price target to 310p from 282p) and neutral on Travis Perkins (TPK.L) (raising the price target to 2035p from 1850p).
Lehman reiterates equal-weight on BSkyB (BSY.L) (cutting the priced target to 586p from 600p and reducing estimates).
Merrill reiterates neutral on Schroders (SDR.L) and has neutral on George Wimpey (WMPY.L).
JP Morgan has downgraded British Energy (BGY.L) to neutral from overweight.
Morgan Stanley has downgraded HMV (HMV.L) to equal-weight from overweight and reiterates equal-weight on Bunzl (BNZL.L).
The broker has equal-weight on Group 4 Securicor (GFS.L).
Numis says sell HMV (HMV.L) (cutting the price target to 110p from 130p) and says hold Home Retail (HOME.L) (cutting the price target to 400p from 455p).
The broker has initiated coverage of Vitec Group (VTC.L) appending a hold recommendation and a 563p price target.
Numis has upgraded Instore (INST.L) to buy from hold (26p target) and Luminar (LMR.L) to add from hold (810p target) and downgraded Abcam (ABC.L) (264p target), Persimmon (PSN.L) (1440p target) and Savills (SVS.L) (695p target).
Panmure Gordon reiterates buy Luminar (LMR.L) (800p target, after a meeting with management), Premier Foods (PFD.L) and ARC International (ARK.L) (40p target) and reiterates hold Wolfson Microelectronics (WLF.L).
Seymour Pierce reiterates hold Instore (INST.L) and has outperform on Vodafone (VOD.L).
The broker says hold Yell Group (YELL.L).
UBS has downgraded Davis Service Group (DVSG.L) to neutral from buy and says buy Catlin (CGL.L) (cutting the price target to 110p from 130p).
The broker says hold Home Retail (HOME.L) (cutting the price target to 400p from 425p).
NEWS ROUND-UP
Last Night in New York shares cut back earlier gains to close lower, as a sell-off in natural gas impacted on the energy sector and reversed the early positive momentum engendered by merger news. The Dow fell 7.45-points to finish at 12463.87, the Nasdaq slipped 1.94-points to 2427.61, while the S&P lost 2.02-points to stand at 1423.53.
On this day in:-
1997 - The Spice Girls knock The Teletubbies off the top of the Great British pop charts to land the coveted Christmas Day No 1 single, for the second year running, with 'Too Much'.
1993 - American newspapers reported allegations that both US President Bill Clinton and his wife Hillary have committed adultery.
1990 - Iraqi leader Saddam Hussein said he would ignore the United Nations deadline to pull his invasion troops out of Kuwait.
1988 - Terrorists blew up a Pan-Am jumbo jet carrying more than 270 passengers and crew as it flew over the Scottish town of Lockerbie. All on board are killed as well as 11 people in the town when the plane crashes.
1958 - Charles de Gaulle was elected the first president of the French Fifth Republic.
1937 - Walt Disney's first full-length colour animated cartoon, “Snow White and the Seven Dwarfs” premiered in Los Angeles, America.
1913 - The first crossword puzzle was published in the New York World. The puzzle had been compiled by Liverpool-born Arthur Wynne.
1905 - Japan declared Korea a protectorate.
1879 - The first performance took place of Ibsen's “A Doll's House” at the Royalty Theatre Copenhagen.
1846 - Robert Lister used an anaesthetic (ether) for the first time in Great Britain during an operation at University College Hospital, London, to amputate a leg.
1620 - The Pilgrim Fathers arrived at Plymouth Rock, Massachusetts, aboard The Mayflower. Passengers and crew had increased to 103 after 2 births on the voyage from Plymouth, England.
