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FINANCIAL TIMES
The Lex Column:
*Peak no evil – ‘Peak oil’ theorists posit that the world has exhausted about half of the crude it had to offer originally and that output will soon peak before an irreversible decline.
*Botin fishing – In some respects, A&L (AL.) is a familiar story. But any parallel with Northern Rock (NRK) is far fetched.
*Asian slowdown – The dominoes are starting to fall. Singapore is first out of the hatches, but its neighbours are set to exhibit a similar trend of decelerating growth in the fourth quarter.
*Withdrawn LBO bids – Talk is not cheap. The experiences of Sallie Mae, the student lender, and more recently of PHH, are salutary reminders of the potential pitfalls in entertaining a bid from private equity.
*Quant investing - Even where money has stayed put, no fund-of-funds manager or other investor is looking at quant in quite the same.
The Lombard Column:
*Landlord’s not tenants will feel the High Street’s pain.
*Reputation and the Rock (NRK) – Matt Ridley is hardly alone in not having spotted the liquidity crisis that overwhelmed Northern Rock.
*Recently on ITV (ITV)... – Michael Grade has staked his reputation on on a revitalised schedule.
Further news:
*A&L (AL.) up on Spanish interest.
*Gold’s advance leads way for oil and platinum.
*Oil and gold break new ground but dollar dips.
*Retailers buoyed by hopes of boost from post-Christmas sales.
*Talkover talk sends Forth Ports (FPT) higher. Talk of a £24-a-share bid from Australia’s Babcock and Brown.
*Pipex (PXC) up on wireless bid vibe.
THE TIMES
The Business Commentary Column:
*Spanish fling leads to a merry dance (Alliance & Leicester (AL.)/Santander).
*Gold standard? – Gold has hit a record high and no doubt Gordon Brown will once again be flogged for auctioning half the country’s gold reserves 7-years ago.
*Breaking up is never easy – With so many large buyout deals now teetering on the edge of failure, and with the break-up fees large, much is at stake.
Business Big Shot:
*David Bennett.
Feature:
*London prime property market falters.
Feature:
*eBay chief bids to regain momentum.
Feature – The Credit Crunch:
*A rate cut is unlikely to take the pain away from retail sector.
*Pressure mounts as Goldman picks M&S (MKS) as favourite.
*Play.com grows as the high street slumps.
The Tempus Column:
*To paraphrase Clinton... it’s the sector, stupid - That the choice of stock market sector is critical to investment returns will come as no surprise to anyone who backed London-listed banks last year (down 20%) as opposed to basic resources (up a hefty 45%).
Tiddler to Watch:
*NCipher (NCH).
Further news:
*DSG (DSGI) shares surge on talk of store closures.
*Transdermal Cosmetics, the company that makes the first anti-ageing cream to deliver collagen into the skin, is said to have signed a £25-million deal for advertising slots for its launch on US TV this week in exchange for shares.
DAILY TELEGRAPH
The Comment Column:
*Risk is the game in ‘Wild West’ of emerging markets - A basket of emerging market shares rose by 40pc last year as developing countries suddenly seemed a safer bet than the credit-crunched stock markets on either side of the Atlantic.
*Inflation indicators lend the Bank relief - The relief for the MPC is the way in which slower activity is finally reducing companies' ability to push through higher prices. The prices charged balance hit an eight month low. With weak mortgage data and a gloomy services snapshot likely, the odds have shortened on an early cut.
*Hot gossip over A&L (AL.) causes burnt fingers - With one in every five of A&L's shares out on loan to short-sellers, there is a whiff of burnt fingers in the air.
The Questor Column:
*Alliance & Leicester (AL.) – Buy.
*Ladbrokes (LAD) – Avoid.
*Game Group (GMG) - Hold.
Further news:
*Banks rebound on back of A&L (AL.) talks disclosure.
*Informa (INF) rises.
*HSBC (HSBA) sells US tax advice arm to board.
THE GUARDIAN
No share news today
THE INDEPENDENT
The Outlook Column:
*Santander looks to exploit bargain prices.
*Gold and oil prices surge to new records.
*Another private equity deal bites the dust (Blackstone’s PHH deal).
The Business Analysis Column:
*Bank predators go bargain-hunting.
The Investment Column:
*GlaxoSmithKline (GSK) – Buy.
*Northern Foods (NFDS) – Avoid.
*Game (GMG) – Buy.
Further news:
*Broker takeover talk provides spark of interest (Evolution (EVG)/Panmure Gordon (PMR)/Collins Stewart (CLST)).
*Brinkley Mining (BRM) rose 18.3% to 6.15p after director share-buying.
DAILY MAIL
At a Glance:
*Absolute gloom (Absolute Capital (ACMH)).
Interview:
*Whitbread (WTB) boss Alan Parker.
Further news:
*Killick adds GlaxoSmithKline (GSK) to its Income List.
*US data pulls Footsie down.
DAILY EXPRESS
Share Whisper:
*Outgoing chairman, John French is set to deliver a bullish update for investors in Croma Group (CMG).
Further news:
*US gives headache to British investors.
DAILY MIRROR
No share news today
THE SUN
No share news today
COMMENT AND BID NEWS
*SEC eyes cross-border shake-up.
*Centro Properties seeks saviour as £1.7-billion deadline looms.
*NBC and ITV (ITV) in talks on UK ‘Law and Order’.
*Collins Stewart (CLST) targets market in Singapore.
*Advisor says hedge fund code needs to be tougher.
*Qualcomm warns of injunction setback.
*Fed caught off guard by rate of US slowdown.
*Investors lift Alliance & Leicester (AL.) amid talk of bidding war.
*Delek (DGRE) faces court after jilting JELMOLI.
*Mobile firms on edge as OFCOM prepares to set out plans for 3G auction.
*Santander talks give A&L (AL.) shares 17% boost.
*UK companies rally to protect Kenyan workers.
*TV ads may have paid off for Next (NXT).
*Extra competition forces underwriters to slash rates.
*Hotels to be hit by fall in consumer spending.
*Slowdown in factory orders fuels hopes of further rate cut.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed down 220.86-points at 13043.96, the Nasdaq fell 42.65-points to close at 2609.63, while the S&P lost 21.20-points to finish at 1447.16.
*More than 500,000 young are too sick to work and on benefits, according to figures obtained by the Financial Times.
*Another rate cut imminent as new orders slump to 2-year low.
*Sterling slumps to 4-year low as manufacturing loses spark.
*Network Rail facing record fine.
*Tories cast doubt on the future of Regional Development Agencies.
*US car sales slump to 9-year low.
*Surprise US factory figures send American shares tumbling.
*British companies make plans to remove staff amid Kenyan chaos.
Compiled in association with HB PLC and WH Ireland Ltd
