The Cover Story:
*(As the Japanese bid for Gallaher (GLH.L)...) The Battle for Big Tobacco.
The Alchemist Column:
*Gallaher (GLH.L) puffs up but nothing is now too big to be bought.
Inside AIM:
*Director’s salaries beat the index in London’s junior investment market.
*Nexus (NXS.L) is a buy with its small firm services.
The Benchmark Column:
*Cadbury (CBRY.L) can milk its position to better a flaky year.
*Broadcast merger (SMG (SMG.L)/UTV (UTV.L)) script set for predictable finalé.
SHARES MAGAZINE
Star Quality (Stock picks from Wizard Fund Manager Portfolios):
*BBI Holdings (BBI.L) - Genus (GNS.L) - Gladstone (GLD.L) - Hargreaves Services (HSP.L) - Inspired Gaming (INGG.L) - Mediasurface (MSR.L) - Next Fifteen Communications (NFC.L) - Northern Recruitment (NRG.L) - Pure Wafer (PUR.L) - Teesland (TLD.L).
Plays of the Week:
*Buy Afren (AFR.L) and Carclo (CAR.L).
Updates:
*Hold Petroneft (PTR.L).
*Take profits at Renold (RNO.L).
Trading Ideas:
*Buy Lloyds TSB (LLOY.L) - Royal & Sun Alliance (RSA.L) - United Utilities (UU.L) - Domino's Pizza (DOM.L).
The Lex Column:
*No plane, no pain - Passengers may have been horrified by the traces of polonium 210 found on commercial aircraft, but many fund managers have viewed airlines as radioactive for years. Plagued by overcapacity and cyclicality they have been the best example of an industry destined to make sub-economic returns.
*REITs - Better late than never. Forty-five years behind the US, real estate investment trusts (Reits) will be allowed in the UK from 1st January.
*Abertis/Autostrade - “Those are the usual lies. Italy will not lose a euro in investment,” declared Antonio Di Pietro, the country’s outspoken infrastructure minister, in an interview on his blog. It is hard to share his conviction.
*Insider trading (The FSA and loan markets).
*Opec - Tough talk can yield results, but it creates an expectation of action to back it up. This is the difficulty Opec faces when it meets on Thursday.
The Lombard Column:
*Cost-cutting masterclass from Amec's (AMEC.L) new chief.
*Leave the scoops to us (The role of gumshoe reporter does not suit analysts well).
*Loan rangers reined in.
Further news:
*Investor bodies in ethics row.
*Plus Markets (PMK.L) raises £25-million to fight LSE (LSE.L).
*Tales of the unexpected under analysis.
*Telecoms upgrades provides the impetus for Footsie’s solid advance.
*Vague talk that William Hill (WMH.L) could be building a stake in Rank (RNK.L).
*Talk that British Land (BLND.L) could be a takeover target for a foreign billionaire.
The Business Editor’s Commentary Column:
*Google unearths plan to extend its shelf life.
*Logical reason for lowering flag (Qantas).
*Off-green tax.
Smaller Stock to Watch:
*Polymer Logistics (POLL.L).
The Tempus Column:
*Hold Alliance & Leicester (AL.L) for the yield, not for a bid.
*Chime Communications (CHW.L) a hold at best.
*Romag (ROM.L) is worth a look.
Further news:
*Hovis for £1 as RHM (RHM.L) passes on a slice of wheat cost rise.
*Starwood bid rumours lift Intercontinental (IHG.L).
*Goldman Sachs adds ITV (ITV.L) to its buy list.
*Gallaher (GLH.L) shares slip after rumours of bid from Altria.
*Profit warning puts 32Red (TTR.L) in spin.
The Comment Column:
*The City has already filled its Christmas list of crackers (M&S (MKS.L)).
*Mixed feelings abound on markets' future.
*The EU must overhaul fraud-prone VAT laws.
The Questor Column:
*Hold Amec (AMEC.L).
*Buy Telecom Plus (TEP.L).
*Hold Whitbread (WTB.L).
Further news:
*Reckless takeovers will lead to rise in defaults.
*Schroders (SDR.L) takes out insurance policy amid slowdown fears.
*Angus Rigby, chief executive TD Waterhouse, looks at MyTravel (MT.L).
The Investment Column:
*Buy Whitbread (WTB.L) and Telecom Plus (TEP.L).
*Hold Chime Communications (CHW.L).
The Outlook Column:
*The shape of the coming wage round will determine the Bank's next move on interest rates.
*Airline mergers become all the rage.
*Reits: another first for British Land (BLND.L).
Further news:
*Lloyds TSB (LLOY.L) faces a capital shake-up that could put its dividend under threat, according to one of the City's leading analysts.
*Huge placing strikes a jarring note for HMV (HMV.L).
*Rumours that PAI Partners of France is mulling a 320p-a-share bid for Britvic (BVIC.L).
Interview:
*Sir Mark Moody-Stuart, Chairman of Anglo American (AAL.L).
Further news:
*Taihua starts trading on AIM.
*British Airways (BAY.L) caught in wave of takeover fever.
*Centrica (CNA.L) puts energy first.
*Gossip that Entertainment Rights (ERT.L) is close to a £50-million-plus acquisition of a major US children's TV media group.
*Takeover spotlight falls on Whitbread (WTB.L).
*BT (BT.L) gets its numbers right for investors.
*Dealers anticipate a positive update from Petroceltic (PCI.L) on its Algerian gas prospects.
*BP (BP.L) has been told by Federal regulators in the US that it could face civil charges alleging price manipulation in unleaded petrol futures on the New York Mercantile Exchange.
*Harassment and delays push cost of Sakhalin-2 to £12.7-million.
*Trinity Mirror (TNI.L) to announce today it will sell a group of its top newspaper titles, including Racing Post, Birmingham Post and South London Press.
*Legal and General (LGEN.L) predicts further market rises in 2007 but World Bank fears US woes may cause global recession.
*Qantas set to agree £4.43-million offer from a consortium including Macquarie Bank and Texas Pacific.
*Continental and UAL in talks over largest airline deal.
*EMI (EMI.L) to buy Toshiba's 45% stake in Toshiba-EMI of Japan for around £93-million.
*Peter Hain to meet Burberry (BRBY.L) executives tomorrow to demand U-turn on factory closure.
*Alliance Boots (AB.L) to become the first high street chain to have a GP surgery in one of its shops.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed up 1.92-points at 12317.50, the Nasdaq added 0.81-points to 2432.41, while the S&P put on 1.66-points to close at 1413.22.
*Iraq violence kills 33 ahead of National Unity conference.
*Crude price rises after greater-than-expected decline in US energy inventories.
*International Energy Agency warns OPEC not to cut oil production.
*OFCOM to fine broadband companies that obstruct switching.
*The FSA spells out long-term perils of interest only mortgage.
*UK wage rises back case for increase in interest rates.
*Mobile units to replace 3,000 axed post offices.
*US October business inventories up 0.4% vs 0.5% expected.
*US November retail sales up 1% after three weak months.
*UK house prices will continue to rise by 7% in 2007 and 5% in 2008.
*Russia ready to cut off gas supplies to Belarus and Georgia unless they pay much higher prices next year.
*Standard & Poor's warns that reckless takeovers will lead to rise in defaults.
*PwC fined for audit failures linked to TransTec collapse in 1999.
*Motorists risk jail for using mobile phones in cars.
*2006 has been the warmest year on record, according to the Met Office.
Compiled in association with HB PLC and WH Ireland Ltd
