Shares with Perks (The best offers and how to get them): Pick of the Perks 2007:
*Housebuilders – Barratt (BDEV), Bellway (BWY), Redrow (RDW)... Retailers – N. Brown (BWNG), Dobbies Garden (DGC), Mulberry (MUL)... Hotels, Pubs, Restaurants – CHE Group, Restaurant Group (RTN), Shepherd Neame... Travel – Landround (LDR), Thomas Cook (TCG), Holidaybreak (HBR), Irish Continental (ICGC)... Miscellaneous – Inchcape (INCH), Legal & General (LGEN), Trafficmaster (TFC), Johnson Services (JSG)... Steam Railways – North Norfolk Railway, Romnet Hythe & Dymnchurch Railway, Severn Valley Railway.
The Lex Column:
*Beyond redemption - Most fund managers believe they have an investment process that delivers superior returns, in spite of overwhelming evidence to the contrary.
*UK rates - It is too easy the paint the Bank of England governor Mervyn King as Santa Claus and Jean Claude Trichet at the European Central Bank as Scrooge.
*Roche (ROG) and the FDA - An FDA advisory panel unexpectedly recommended against approving the cancer drug Avastin as a first-line treatment for breast cancer.
*Chinese stakes - Bursting with cash Chinese state-linked companies and sovereign wealth funds have become highly desirable friends - but can it last?
*RBS (RBS) surprises - Sir Fred Goodwin has new friends after announcing that Royal Bank of Scotland's sub-prime related losses in the second half were significantly less than feared.
The Lombard Column:
*A rate cut is no comfort if viewed from a cliff top.
*Sky (BSY) has a vice-like grip.
*Rock (NRK) bites the City.
The Small Talk Column:
*Small fry cannot afford to swim aimlessly.
*Herd instinct at Clapham House (CPH).
Further news:
*James Murdoch to replace father as Sky (BSY) chair.
*HBOS (HBOS) and Lloyds TSB (LLOY) likely to be cautious optimists.
*Buyers emerge for Friends Provident (FP.) in volatile session.
*Clapham House (CPH) sees 6 directors buying shares.
*Predator might want an Evolution (EVG).
The Business Editor’s Column:
*Dukes of moral hazard must study Libor.
*Enjoying a wealth of experience (Credit crunch).
*Would you like guile like that (McDonald’s (MCD) predatory marketing?).
Business Big Shot:
*Mark Preston.
Feature:
*In a nation of TV-lovers, listings titles have a captive audience.
The Tempus Column:
*Avoid - Premier Farnell (PFL).
*Avoid - Micro Focus International (MCRO).
*Buy on weakness – Redhall (RHL).
The Comment Column:
*As FTSE sees red again, are there bears at the door?
*China's rules of business lost in translation.
*Shielding people from the result of foolishness is folly – Does a contract have no meaning any more?
The Questor Column:
*Buy - Premier Farnell (PFL).
*Hold - Numis (NUM).
Further news:
*EMI (EMI) bonuses on the line as Terra Firma sets profits target.
*Rate cut fails to impress markets and hits builders.
*James Murdoch is stepping up from the role of chief executive of BSkyB (BSY) to replace his father Rupert as chairman.
*Northern Rock (NRK) says it has borrowed £25 million from Bank of England.
*JC Flowers has walked away from the bid auction for Northern Rock (NRK), saying that it could not provide a revised offer that would both provide value for shareholders and satisfy Government requirements.
*The Olivant bid for Northern Rock (NRK) is also understood to be hanging in the balance.
*The Ministry of Defence awards Babcock International (BAB) £17-million frigate upgrade contract.
*BAE (BA.) wins $709.4-million contract to refit Bradley fighting vehicles.
*First Reserve adds a string of conditions to its £800-million offer for Abbot Group (ABG).
*Former Times business editor, Patience Wheatcroft, joins board of Barclays (BARC).
*Baugur in talks to sell a stake in fashion chain Whistles to former Top Shop boss Jane Shepherdson.
*Marks & Spencer (MKS) enlists Carlos Criado-Perez, former Safeway chief, to aid Chinese expansion.
*Marks & Spencer (MKS) £250-million notes successfully launched and priced.
*EMAP (EMA) has secured a better-than-expected offer of £1.15-billion for its consumer magazines and radio businesses from German publisher Bauer; the group has failed to sell its larger exhibitions division.
*Yoomedia (YOO) to take 95.2% in Spain's Fresh Interactive.
*BUPA raises its cash offer for MBF Australia from Aus$2-billion to Aus$2.41-billion.
*Intermediate Capital (ICP) puts £120-million buyout of Gaucho Grill on the table.
*Inspired Gaming (INGG) still in talks with FL Group re possible bid.
*Kazakh mining group Eurasian Natural Resources, is expected to float on AIM today.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed up 174.93-points at 13619.89, the Nasdaq added 42.67-points to 2709.03, while the S&P closed unchanged on the day at 1507.34.
*The Bank of England’s MPC cuts base rate by a quarter point to 5.5%, the first cut for over 2-years.
*The BoE believes slowing demand growth will keep inflation in check.
*Business and analysts demand further reductions with possible 4% level by 2009 election.
*Households face 10% rise in energy bills.
*UK new car registrations up 2.2% year-on-year.
*Ministers facing growing pressure over their failure to help a US criminal probe into alleged bribery by BAE (BA.).
*Wealthy foreigners poised to quit Great Britain over tax clampdown.
*The OFT agrees milk price fines with supermarkets.
*Organisation for Economic Co-Operation and Development plans down fears of a housing crash.
*The Association of British Insurers joins chorus against Sports Direct (SPD).
*Serbs prepare to flee from Kosovo as another conflict in the Balkans looms.
*India cancels deal for 197 Eurocopter aircraft.
*The European Central Bank held rates at 4% raising 2007 and 2008 €urozone inflation forecast to 2.5% from 2% and cutting growth forecast for 2008.
*The White House administration is set for a showdown, as President Bush unveils a plan to freeze interest rates on some sub-prime home loans.
*Default levels to rise fourfold as credit markets deteriorate, according to Moody's.
*Japan's third-quarter expansion was slower than the government initially reported, the latest evidence growth is losing steam because of a slump in domestic housing construction and waning U.S. demand.
*US November same store sales rise an average of 4%.
*US jobless claims minus 15,000 to 338,000 in first week of December.
Compiled in association with HB PLC and WH Ireland Ltd
