The Lex Column:
*Yeah baht, no baht - If there is one thing worse than governments ham-fistedly intervening in capital markets, it is governments that do so indecisively. Having announced capital controls aimed at preventing the baht appreciating on Monday night, the Thai authorities watched $21-billion, or 15%, being wiped off the stock market before changing their minds.
*LSE (LSE.L)/Nasdaq - For a defence document, the London Stock Exchange’s riposte to Nasdaq is remarkably restrained. Its main point is that the offer price is too low.
*Chinese economy - Will 2007 be the year the Chinese economy pauses for breath? China is expected to notch up its fourth year of 10%-plus growth in 2006, but recent data struck a slightly softer tone.
The Lombard Column:
*Permira retraces its roots and springs a surprise - Britvic (BVIC.L) under pressure after stakebuilding.
*Legal challenge – The ongoing legal battle concerning the “sacking” of HSBC’s (HSBA.L) head of equity trading back in March, for being gay.
*Panel beating - Where the Takeover Panel leads, the FSA seems increasingly to follow.
Further news:
*LSE (LSE.L) plan to repel Nasdaq bid.
*The war on drugs copycats.
*Positive vibes about Centrica (CNA.L) reignite takeover speculation.
*Dealers believe Sainsbury (SBRY.L) property sale and leaseback deals are now a distinct possibility.
*Talk of stakebuilding at Rank Group (RNK.L).
*Talk of Apax Partners predatory interest stirs JJB Sports (JJB.L).
*Costain (COST.L) benefit’s from broker’s change of heart.
*Talk that an activist investor is building a stake in Intec Telecom (ITL.L).
The Tempus Column:
*Hold ITV (ITV.L).
*Still worth holdings Hanson (HNS.L).
*Hold John Wood (WG.L).
Further news:
*ITV (ITV.L) faces £110-million ad revenue loss after viewing figures drop.
*Miners to retreat as investors give up on Christmas rally.
*Better prospects boost Beazley (BEZ.L).
The Business Comment Column:
*Bank’s (Goldman Sachs) top dog (Lloyd Blankfein) has plenty of reasons for tail wagging.
*Gordon's public spending is a return to the bad old days.
*Asia's tigers in good health to survive this Thai crash.
Further news:
*Shades of dotcom bubble in M&A boom.
*LSE (LSE.L) attacks Nasdaq’s record as claims fly.
*Scottish banks hand huge profits to Lloyds TSB (LLOY.L).
*Bid speculation ensures top Billing for services group (Billing Services (BILL.L)).
*City Trader - Angus Campbell of Finspreads focuses on George Wimpey (WMPY.L).
The Outlook Column:
*Thai crisis has echoes of the late 1990’s but this time around it is more farce than tragedy.
*LSE (LSE.L) battles to make its valuation case.
*Shell (RDSA.L): best to admit Russian reality.
The Business Analysis Column:
*Soaring commodity prices drive mining and power stocks to biggest FTSE gains.
Further news:
*Rivals for Corus (CS.L) get 30th January deadline.
*Make-or-break time for Carphone Warehouse (CPW.L).
*Word of more good news to come from Proteome Sciences (PRM.L).
Share Whisper:
*Speculation of more deals in the pipeline for Ceramic Fuel Cells (CFU.L).
Further news:
*Centrica (CNA.L) boosted by Russian bid talk.
*Hopes that government will soon offload its 65% stake in British Energy (BGY.L).
*Break-up bid hopes lift Rank (RNK.L).
*European Union regulators patent office rejects one substance patent for AstraZeneca's (AZN.L) Nexium.
*EU regulators clear variation to GlaxoSmithKline's (GSK.L) Rotarix marketing authorisation.
*GlaxoSmithKline (GSK.L) to invest up to £1.1-billion in a Danish biotech company to work on treatments for cures for cancer and arthritis.
*Total value of takeovers across the world has reached £1,836-billion this year.
*Permira's Snowdon Acquisitions increases stake in Britvic (BVIC.L) to 13.98%.
*Axa (AXA.L) still remains the largest shareholder in Britvic (BVIC.L) with 13.99% holding.
*Permira tries to reassure Britvic (BVIC.L) that its arrival on the share register is a friendly move.
*Tata Steel and CSN given 30th January deadline by Takeover Panel for revised Corus (CS.L) bids.
*BP (BP.L) is expected to appoint a chief operating officer in the first half of next year, who will be lined up to takeover as chief executive when Lord Browne steps down.
*BP (BP.L) man in charge of Texas refinery, Mike Hoffman, resigns.
*Gazprom closes in on Shell (RDSA.L) and signs $85 billion French deals.
*Barclays (BARC.L) Private Equity has backed a £28-million management buyout of Italian clothes retailer Artigiano.
*Citigroup (CGP.L) clashes with rivals over credit for Statoil deal.
*Morgan Stanley to spin off its Discover credit card division.
*Delta rejects US Airways' unsolicited merger plan.
*Gemstar and BSkyB (BSY.L) sign licensing pact.
*Feedback's (FDBK.L) status as going concern in doubt due to pension deficit, according to auditor.
*Bond International (BDI.L) buys Gowi Group for £8.9-million.
*Zambezi Nickel (ZNI.L) widens first-half operating loss; assessing acquisitions and joint ventures.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed up 30.05 at 12471.32, recovering from a low of 12397 during the day, the Nasdaq fell 6.02 to 2429.55, while the S&P put on 3.07-points to 1425.44.
*President Bush considering troop increase in Iraq as International Crisis Group warns the country is on the brink of total disintegration and could drag its neighbours into a regional war.
*Tories at their strongest for 14-years with an 8-points lead over Labour, according to Guardian/ICM poll.
*Home secretary John Reid has axed plans to build a computer system to hold the biometric data for the government's identity car scheme.
*Fund managers see soft landing for global economy in 2007, according to Merrill Lynch survey.
*Morgan Stanley fourth-quarter earnings per share beat expectations.
*Thailand retreats on equity controls after shares dive.
*RWE (RWW.L) receives warning from Federal Cartel office regarding CO2 emissions.
*US November housing starts up 6.7% to 1.588 million.
*US November PPI up 2%, the largest monthly gain in over 30 years.
*US company earnings seen slowing in 2007, according to Thomson Financial.
*US economy to slow further, hurting global growth, according to Dresdner Kleinwort.
Compiled in association with HB PLC and WH Ireland Ltd
