Lupton Fawcett LLP - Openbrief » Asset Management

DAILY STOCK MARKET REPORT 28 March 2011

Dominic Key — Mon, 28 Mar 2011 10:14:38 +0000

Markets New York - US indices advanced on Friday following positive corporate and economic news. The Dow Jones gained 50.03 points to 12,220.59, the S&P 500 added 4.14 points to 1,313.80 and the Nasdaq rose 6.64 points to 2,743.06.

DAILY STOCK MARKET REPORT 25 March 2011

Dominic Key — Fri, 25 Mar 2011 09:49:35 +0000

Markets London - The FTSE 100 rallied 84.99 points to 5,880.87 yesterday, erasing losses that followed Japan’s March 11 earthquake, after earnings from Kingfisher Plc and Next Plc beat estimates and Deutsche Bank AG recommended British retailers.

DAILY STOCK MARKET REPORT 24 March 2011

Dominic Key — Thu, 24 Mar 2011 10:51:56 +0000

Markets London - The FTSE 100 rose 33.17 points to 5,795.88 yesterday, as base metals advanced and minutes from the Bank of England’s last meeting reduced speculation of an imminent interest-rate increase. Minutes from the BOE’s March 10th meeting showed the bank saw “merit in waiting” to examine the effect of higher oil prices on inflation. Policy makers voted 6-3 to keep interest rates on hold this month. Gains were limited after Osborne said the British economy will grow more slowly than forecast in 2011 and the U.K. will need to borrow more than previously thought in the next five years. The Office for Budget Responsibility predicted annual growth this year of 1.7%, down from the 2.1% forecast in November.

DAILY STOCK MARKET REPORT 23 March 2011

Dominic Key — Wed, 23 Mar 2011 10:55:39 +0000

Markets London - The FTSE 100 fell 23.3 points to 5,762.71 yesterday, the first fall in four days as British inflation rose more than forecast and oil surged amid concern that unrest is spreading in the Middle East and North Africa. A report today showed U.K. inflation accelerated more than economists had predicted to the fastest pace in more than two years in February, adding pressure on the Bank of England to increase its benchmark interest rate. Oil traded near the highest price in more than a week as the airstrikes threatened to prolong a supply disruption.

DAILY STOCK MARKET REPORT 22 March 2011

Dominic Key — Tue, 22 Mar 2011 09:39:21 +0000

Markets London - The FTSE 100 jumped 67.96 points to 5,786.09 yesterday, also boosted by progress in Japan. Vodafone Group Plc and BT Group Plc rallied more than 2% following news of the telecommunications merger in the US. Weir gained 4.5% to 1,708p as Credit Suisse upgraded the Glasgow-based engineering company to “outperform” from “neutral.” Essar Energy Plc slid 7.3% to 440.4p as the Indian oil refiner and power plant operator said it incurred delays in gaining approval for the development of some domestic coal blocks.

DAILY STOCK MARKET REPORT 21 March 2011

Dominic Key — Mon, 21 Mar 2011 10:28:50 +0000

Markets London - The FTSE 100 climbed 22.02 points to 5,718.13 on Friday after Group of Seven countries agreed to intervene in Japan’s foreign exchange market as the country battles to control a nuclear accident. National Grid rose 4.4% to 577p as Credit Suisse upgraded energy-utility shares to “small overweight” from “underweight.” Centrica Plc climbed 3.2% to 328.5p as Goldman Sachs Group Inc. added the stock to its “conviction buy” list. Amec Plc gained 1.5% to 1,128p as Investec Plc rated the shares “buy” in new

DAILY STOCK MARKET REPORT 18 March 2011

Dominic Key — Fri, 18 Mar 2011 10:12:54 +0000

Markets London - The FTSE 100 rallied 97.88 points to 5,696.11 yesterday, rebounding from a six-day sell off. BHP Billiton Ltd. and Xstrata Plc rallied more than 3% in London as copper climbed on optimism that demand from Japan will increase. Outside of the FTSE 100, SIG surged 7.8% to 130.5p after Europe’s biggest supplier of insulation said trading for the first two months of this year was in line with its forecasts and exceeded trading in the year-earlier period. The company also plans to resume paying dividends after suspending them to reduce debt and conserve cash. Heritage Oil rallied 8.2% to 313.5p after the Financial Times reported that the company has rejected an informal £1.2 billion offer from an unidentified Abu Dhabi-based company. The newspaper cited a person familiar with the situation. Heritage’s chief financial officer and head of investor relations were not available to comment.

DAILY STOCK MARKET REPORT 17 March 2011

Dominic Key — Thu, 17 Mar 2011 11:09:37 +0000

Markets London - The FTSE 100 slid 97.05 points to 5,598.23 yesterday, its longest stretch of declines in more than two years, led by a sell-off in financial and basic resource companies as Japan battles to prevent a nuclear meltdown. Stocks extended the sell off after the European Union’s energy chief, Guenther Oettinger, said the power plant risks provoking a “major disaster.” He said his assessment was based on information from the EU mission in Tokyo, the International Atomic Energy Agency and media reports. Barclays led financial shares lower, falling 3.4% to 282p. Prudential slid 3.1% to 673.5p while asset manager Schroders Plc declined 2.3% to 1,691p. Anglo American, the world’s fourth-largest diversified mining company, dropped 2.5% to 2,954.5p. Xstrata, the world’s fourth-largest copper producer, slid 1.4% to 1,329p and BHP Billiton Ltd., the world’s biggest mining company, declined 1.6% to 2,213p. IAG led airlines lower. The parent company of British Airways retreated 3.5% to 212.9p, EasyJet Plc fell 1.5% to 333.4p.

DAILY STOCK MARKET REPORT 16 March 2011

Dominic Key — Wed, 16 Mar 2011 10:57:59 +0000

Markets London - The FTSE 100 dropped 79.96 points to 5,695.28 yesterday tracking declines in global equity markets, amid concern that a Japanese nuclear power plant will leak radiation. Burberry retreated 1.2% to 1,110p, extending yesterday’s 4.3% drop on concern that sales in Japan may suffer. Antofagasta Plc, Vedanta Resources Plc and Rio Tinto Group paced losses among raw- material producers as copper, nickel, tin and lead prices dropped on the London Metal Exchange. International Consolidated Airlines Group, the parent company of British Airways, sank 4% to 220.7p, the lowest level since September. German rival Deutsche Lufthansa AG rerouted its Tokyo flights to the southern-Japanese cities of Nagoya and Osaka, citing the risk of nuclear fallout and aftershocks.

DAILY STOCK MARKET REPORT 15 March 2011

Dominic Key — Tue, 15 Mar 2011 09:57:17 +0000

Markets London - The FTSE 100 dropped 53.43 points to 5,775.24 yesterday. Companies with exposure to Japan were among the biggest losers, led by Burberry amid concern that sales will suffer. Aviva Plc and Resolution Ltd. led insurers lower. However, BG Group Plc and Aggreko Plc rose 3.7% and 8.2% respectively as UBS AG said they may see extra sales as a result of higher demand for temporary power.

DAILY STOCK MARKET REPORT 14 March 2011

Dominic Key — Mon, 14 Mar 2011 09:45:15 +0000

Markets London - The FTSE 100 fell to a three-month low, led by insurers, after the biggest earthquake on record in Japan shook buildings across Tokyo and unleashed a seven-metre high tsunami that killed hundreds. RSA, the U.K.’s biggest non-life insurer by market value, declined 2.6% to 133 pence. Prudential fell 1.9% to 721 pence. Aviva Plc declined 1.5% to 453.9 pence.

DAILY STOCK MARKET REPORT 11 March 2011

Dominic Key — Fri, 11 Mar 2011 10:50:07 +0000

Markets London - The FTSE 100 sank 92.01 points to 5,845.29 yesterday erasing this year’s gains, after Moody’s Investors Service downgraded Spain’s government debt and earnings from Home Retail Group Plc and Standard Life Group Plc disappointed investors. Spain’s credit rating was cut to Aa2 by Moody’s, which said the cost of shoring up the banking industry will eclipse government estimates. Home Retail plunged 5.9% to 198.5p after the company lowered its full-year earnings forecast. The owner of the Home Base do-it-yourself stores said pre-tax profit for the year ended Feb. 26 will have reached £255 million at most. Standard Life dropped 7.3% to 226.9p. The insurer’s capital generation missed estimates, said analysts including Morgan Stanley’s Jon Hocking and Damien Kingsley-Tomkins. Even so, the company posted full-year profit that more than doubled on higher revenue from fees at its U.K. pensions business and earnings at its investment-management division. ARM declined 9% to 522.5p as JPMorgan said the U.K. company is most at risk if tablet-computer makers other than Apple Inc. report falling sales. ARM’s stock has rallied so fast that the designer of chips that power Apple’s iPhone is now the most expensive takeover target in the semiconductor industry since 2006.