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SHARES MAGAZINE
Plays of the Week:
*Buy – Central Rand Gold (CRND), Tesco (TSCO).
Plays Update:
*Take profits – Medusa Mining (MML).
Feature:
*A fistful of falling dollars (the US dollar’s decline).
Trading Feature:
*Leveraged products.
FINANCIAL TIMES
The Lex Column:
*Superannuated – At the start of this decade, the combined market of the supermajors was nearly two-thirds of the global sector’s total. These days, they represent 23%.
*M&S (MKS) shares tumble – Marks and Spencer’s share price dropped 17% after announcing the first quarterly fall in like-for-like sales in two and a half years.
*Accounting backlash – The idea that accounts represent the truth may be amusing but even fanatical annual report readers would have struggled to predict banks’ recent exposure.
*Corruption conundrum – US enforcers last year brought cases against a record number of multinational companies for paying bribes in countries including Kazakhstan, Indonesia and Nigeria.
*UK Housebuilders – Shares in British housebuilders seem to confirm the idea that the UK is the 51st state of the US, the sector has recently been tracking its US counterpart.
The Lombard Column:
*Apple’s tetchiness over iTunes is ill-timed.
*Business knight errant (Sir Stuart Rose and M&S (MKS)).
*BP (BP.) blue-chip blues – The investor relations team was simply doing its job.
Feature:
*Sir Stuart Rose again faced with a lot to prove.
Further news:
*US recession concerns keep investors nervous.
*Carphone (CPW) and M&S (MKS) mauled in brutal session for retailers.
*Fears of profit warning sends Aga Foods (AGA) 9.6% lower.
*Forth Ports (FPT) rides takeover wave.
*Upgrade worth little to Woolies (WLW).
*Lehman initiates coverage of D1 Oils (DOO) with an underperform recommendation and shares fall 6.2%.
THE TIMES
The Business Commentary Column:
*Dim sum for the rich, crumbs for the poor – Abu Dhabi’s Tasameem Group buys Alan Yau’s London restaurants (Hakkasan and Yauatcha) for £30.6-milion.
*It’s textbook stuff – Oil analysts had failed to remember that BP (BP.) had abandoned quarterly trading updates and replaced them with weekly updates. Yesterday they were prodded into action.
*Rose a long way from wilting (Sir Stuart Rose and M&S (MKS)).
The Business Biog Shot Column:
*Alan Yau.
Feature:
*The Times MPC tells Bank to keep rates on hold in close call.
The Power 100:
*Top UK businessmen (No.s 21 to 40).
A Tiddler to Watch:
*Entertainment One (ETO).
The Tempus Column:
*Greggs (GRG) – Likely to benefit from trading down from higher price.
*Rexam (REX) – Buy.
*Computacenter (CCC) – Best avoided.
Further news:
*Tui (TUI) travels downwards in nervous market.
*Busy day for Clapham House (CPH).
*Daniel Stewart sets 90p price target for Nighthawk (HAWK), saying the oil explorer is undervalued.
*Talk that Amerisur Resources (AMER) is to announce a big oil discovery.
DAILY TELEGRAPH
The Comment Column:
*Rose up against downturn... and a healthy John Lewis.
*Don’t discount this buying opportunity (UK market).
The Questor Column:
*Marks & Spencer (MKS) – Hold.
*Restaurant Group (RTN) - Buy.
*Aricom (ORE) - Buy.
Further news:
*Recession fears increase as FTSE 250 hits 15-month low.
*Mint Imperial (Imperial Energy (IEC)) in market report.
THE GUARDIAN
No share news today
THE INDEPENDENT
The Outlook Column:
*Rose defends a grim update from M&S (MKS).
*BA (BAY) first on ‘open skies’ flights.
The Retail Downturn:
*High Street carnage.
The Investment Column:
*Restaurant Group (RTN) – Buy.
*Vantis (VTS) – Hold.
*Greggs (GRG) – Hold.
The Hamish McRae Column:
*Bank and Treasury have little room to manoeuvre as downturn looms.
Further news:
*Bid talk bubbles up around Mitchells & Butlers (MAB).
DAILY MAIL
At a Glance:
*Arena advance (Arena Leisure (ARE)).
The City Interview:
*Ed Story.
Further news:
*Punters hit by Carphone (CPW) fears.
DAILY EXPRESS
*BP (BP.) slides on talk of profits squeeze.
*Credit crisis his as demand falls at Persimmon (PSN).
DAILY MIRROR
No share news today
THE SUN
No share news today
COMMENT AND BID NEWS
*M&S (MKS) sales data put Bank under pressure.
*Apple bows to Brussels on iTunes price reductions in the UK.
*Bear Sterns talked to Fortress Investments on tie-up.
*M&S (MKS) suffers worst day since Rose took helm.
*Indian groups set to challenge Eni’s agreed offer for Burren (BUR).
*Analysts slash BP (BP.) forecasts.
*Singapore’s GIC builds big stake in British Land (BLND).
*Northern Rock (NRK) private sector deal still ‘promising’.
*Turkish buyer rescues Select Retail from near-collapse.
*Forward sales decline 14% at Persimmon (PSN).
*The Restaurant Group (RTN) expects tough year.
*Cost pressures fail to dent Greggs (GRG).
*Demand drives FirstGroup (FGP) up 10%.
*Christmas misery for M&S (MKS) sparks rout among retailers.
*Investors take BP (BP.) to task after broker downgrades sink shares.
*Taylor Wimpey (TW.) cuts payments to contractors in ‘urgent action’.
*Bush ponders tax rebate as Goldman says recession will hit US this year.
*Blood on the High Street as shares plunge.
*Taylor Wimpey (TW.) tells suppliers to take 5% cut as credit squeeze tightens.
*Patientline’s (PTL) life in hands of banks.
*Sir Stuart Rose denies M&S (MKS) has hit crisis.
*Goldman warns of imminent recession.
*JJB (JJB) to compensate price-fixing victims.
*Pressure mounts on BoE to cut rates again.
*Eurostar’s St Pancras boom.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed up 146.24-points at 12735.31, the Nasdaq added 34.04-points to 2474.55, with the S&P up 18.94-points closing at 1409.13.
*Gordon Brown accused of ID cards retreat.
*The pound slides to a record €uro low.
*Sam Allardyce parts company with Newcastle United.
*Schools said to be failing 500,000 pupils.
*A suicide bomber in the eastern Pakistani city of Lahore has killed at least 20 people and wounded more, including several police officers. The explosion targeted a group of police officers gathered outside the High Court Building, police said. A number of people - police and civilians - were seen lying motionless in the street. The attack comes amid extreme political tension following the assassination of opposition leader Benazir Bhutto.
Compiled in association with HB PLC and WH Ireland Ltd
