The Lex Column:
*Pfizzling out - Saturday’s bombshell from Pfizer (PFZ.L) that it is suspending all global development of its late-stage cholesterol drug, has followed a number of high-profile failures and delays from big pharmaceutical companies. Are these setbacks just a coincidence or is something amiss within R&D.
*Premier Foods (PFD.L)/RHM (RH.L) - “Aah! Bisto”. Shareholders in RHM, maker of the UK’s favourite gravy, must be savouring the 352p per share offer for their company from Premier Foods.
*Infrastructure returns - The latest pricing and investment regime proposed for the UK’s electricity and gas transmission networks leaves the likes of National Grid (NG.L) uncomfortable but still standing.
*Oz for sale - For a nation of champion swimmers, it is odd that the wave of private equity money battering Australia has resulted in a panic that treasured companies will be washed out to sea.
*Bank of New York/Mellon - When companies forged by the first and 49th secretaries of the US Treasury merge, a respect for history is understandable. But history aside, the merger is a good fit.
The Lombard Column:
*DeAm has given Aberdeen (ADN.L) mandate for profit – Future looks bright after successful integration.
*Rivals flex mighty brands (Premier Foods (PFD.L)/RHM (RHM.L)).
*Betting on the UK (Las Vegas Sands).
Further news:
*Dubai investor walks alone in talks with Liverpool FC.
*Premier (PFD.L) looks further as it confirms £1.2-billion RHM (RHM.L) offer.
*BT’s (BT.L) TV service to target 2-million – 3-million.
*Why Europe is betting it can weather a US downturn.
*Whitbread (WTB.L) froths to record high on prospect of joining FTSE-100.
*Rumours of predatory interest from Kraft Foods and Hershey lift Cadbury (CBRY.L).
*Evolutec’s (EVC.L) hay fever drug trial is a bitter pill.
*Talk of a 600p-a-share private equity bid for Enterprise (ETR.L).
The Business Editor's Commentary Column:
*BT's (BT.L) Vision clings on the Long Tail.
*Premier (PFD.L) offer for RHM (RHM.L) provides food for thought.
*Bank of America/Mellon: some bank mergers are more exciting than others.
Smaller Stock to Watch:
*Gas Turbine Efficiency (GTE.L).
The Tempus Column:
*Buy - Aberdeen Asset Management (ADN.L).
*EMI (EMI.L) - Long-term buy.
*Buy - Minorplanet Systems (MPS.L).
Further news:
*Saudi fury at slush fund claim threatens thousands of UK jobs.
*Lloyds TSB (LLOY.L) tries to gloss over fresh rise in unauthorised overdraft rate.
*Talk that Sports Cafe (SCA.L) negotiations with possible bidders have stalled.
*Analysts suggest that Shell (RDSA.L) should ponder a mega-major.
*French Connection (FCCN.L) eases back.
The Questor Column:
*Aberdeen Asset Management (ADN.L) a cautious buy.
*Buy BT Group (BT.L).
The Comment Column:
*Premier Foods (PFD.L) investors need a cast-iron constitution.
*Fasten your seatbelts it's going to be a bumpy ride (British Airways (BAY.L)).
Further news:
*Outrage over 9% inflation rate faced by pensioners.
*Woolworths (WLW.L) warning rings retail alarm bells.
*Stakebuilders put Halfords (HFD.L) at the top of their shopping list.
The Outlook Column:
*A brave new world beckons as BT (BT.L) finally launches its long-threatened pay TV assault.
*Grid (NG.L) surrender over pricing review.
*RHM's (RHM.L) ugly duckling attracts suitor.
Further news:
*Legal & General (LGEN.L) rises on takeover speculation.
*Volume in commodity broking group Commoditrade (CMM.L) was high as a big seller came close to being cleared out of the market, and by the close 22-million shares changed hands as the shares firmed half a penny to 29p.
*ACM Shipping to start trading on AIM tomorrow.
The City Focus Column:
*BT (BT.L) tries to draw punters with TV on call.
Further news:
*Amvescap (AVZ.L) may be due a bounce.
*Rumours of Jack Petchey stakebuilding lifts Quintain Estates (QED.L).
*Pinewood Shepperton (PWS.L) were firm, on consideration of its rich property assets.
*BAE (BA.L) wins $31.6-million helicopter refuelling order from US army.
*Corus (CS.L) confirms Tata bid meeting adjourned until 20th December.
*Liverpool FC in exclusive takeover talks with Dubai investors.
*European Motor Holdings (EMH.L) has had at least three potential bids that could lead to the group being sold for up to £400 million.
*Bank of New York to buy Mellon Financial for $16.5-billion.
*Torex Retail (TRX.L) sells non core operations for £9.8-million.
*WPP Group (WPP.L) buys 51% stake in America's Vogel Farina.
*Pacific Media (PCM.L) agrees debt conversion with MediaXposure: to change name to ResponzeTV.
*Equest Investments Bulgaria is planning to raise up to £67-million through a listing on AIM.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed up 89.72-points at 12283.85, the Nasdaq added 35.18-points to 2448.39, while the S&P put on 12.41-points to 1409.12.
*Fiji's president has dissolved the South Pacific island's parliament, paving the way for the military to take control in a coup. Earlier, armed troops surrounded the home of Prime Minister Laisenia Qarase, who is refusing to resign. Military chief Cmdr Frank Bainimarama has repeatedly threatened to unseat Mr Qarase over plans to grant amnesty to those behind a coup in 2000. Cmdr Bainimarama is expected to give a television address in the coming hours.
*US space agency NASA has said it plans to start work on a permanently-occupied base on the Moon after astronauts begin flying back there in 2020. The base is likely to be built on one of the Moon's poles and will serve as a science centre and possible stepping stone for manned missions to Mars. The US has already said it plans to build a new lunar spacecraft to succeed the last Apollo mission in 1972. Funds will be moved from space shuttle flights, due to be scrapped in 2010.
*Russia warns that the furore over the poisoning in London of the former KGB agent Alexander Litvinenko is damaging relations.
*Chancellor to raise £1-billion by doubling air passenger duty.
*OPEC may cut oil price supply to lift price after decline of dollar.
*Oil price slips on forecasts for above average temperatures in US.
*The Government to continue nuclear deterrent; three new submarines to be built and warheads cut to less than 160 from 200.
*Chancellor has pressed electricity and gas companies to offer more discounts to older customers.
*UK shopper numbers down 7.3% in November, according to Footfall.
*Mild weather hits Christmas shopping, according to the British Retail Consortium.
*UK online gambling companies face a fresh blow as Las Vegas Sands plans to launch its first online gambling site in Britain next year.
*UK November construction purchasing managers index dropped to 54.8 from 58.1 in October.
Compiled in association with HB PLC and WH Ireland Ltd
