Sunday, February 11, 2007
Saturday's papers
FINANCIAL TIMES
The Lex Column:*Fortress – enjoying a mad scramble for its shares. It is hard to disagree with someone close to do the deal who said that the share price was insane and ridiculous.*Although the FTSE 100 index has been breaking new highs all week, half its constituents have under performed the broader index by 6.8%.*First Group (FGP.L)/Greyhound - Other UK operators of buses have come a cropper in the US though the buoyant share price suggests shareholders are optimistic.*Share buy-backs – there are a few caveats with the fashionable options for companies.*BP (BP.L) - Lord Brown's final pay-packet was always going to be a lightning rod but now we have a US lawyer seeking to freeze Lord Browne’s pay and retirement benefits.THE TIMES
The Business Editor's Column:*John Lasseter, the Pixar film director, is embroiled in a stock option repricing scandal. Also Steve Jobs, found and head of Apple has been chairman and CEO of Pixar – which is awkward.*HSBC's (HSBA.L) Household group in the US underwent big defaults, and there is a message: never buy into a mature book.*Camelot – the changes of its retaining its Lottery licence are about one in just two.*Sainsbury (SBRY.L) bid watchers can probably afford to take their eyes off the ball next week. Richard Campbell-Breeden, the Goldman Sachs adviser to the private equity group interested in Sainsbury, is going ski-ing.DAILY TELEGRAPH
The Comment Column:*It looks as if in the LSE (ILSE.L) bid, Nasdaq's Bob Creifeld has lived to fight another day.*With all the foreign takeovers of British firms, the Government will have to take over responsibility of defending British jobs.
The Questor Column:*Housebuilders – long term Persimmon (PSN.L) and Barratt (BDEV.L) are the best bet.*Avanti Screenmedia (ASG.L) – trading at 16 times 2008's earnings, but few forecasts can factor in the value of a satellite and orbital licence.
What the Brokers Say:*Luminar (LMR.L) – Buy.*Vodafone (VOD.L) – Buy.*National Grid (NG.L) – Hold.*British Airways (BAY.L) – Hold.*Johnson Matthey (JMAT.L) – Sell.*Barratt Developments (BDEV.L) – Sell.*Xstrata (XTA.L) – Sell.*Friends Provident (FP.L) – Sell.*Diageo (DGE.L) – Hold.THE GUARDIAN
No share news today
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THE INDEPENDENT
The Outlook Column:*The British deficit in goods and services last year as the highest on record in nominal terms. Luckily we have the City which has helped.*Private equity activity is unstoppable until some of the bigger deals go wrong that is.DAILY MAIL
*The LSE (LSE.L) could do the most exciting thing now: try to turn the tables on Nasdaq.*Trade deficit - this is short-termism on a grand scale which can only lead to Britain becoming a client economy no longer responsible for its own future.*FirstGroup’s (FGP.L) purchase of Greyhound set off an over-enthusiastic spate of share upgrades, but it is all early days, and remember what happened to Stagecoach (SGC.L) and HSBC (HSBA.L) in the US.DAILY EXPRESS
*Rolls-Royce (RR.L) shares still trade at a discount to the European aerospace and defence sector average and for no good reason.*An inevitable stock market shake out need be very dire or over long.DAILY MIRROR
No share news todayTHE SUN
No share news todayCOMMENT AND BID NEWS
*LSE (LSE.L) was poised to see off the Nasdaq bid as its shares closed well above Friday the offer price.*FirstGroup (FGP.L) and Stagecoach (SGC.L) prepare to do battle in the US in the wake of FirstGroup’s purchase of Greyhound buses and Stagecoach plans to expand its US venture.*HBOS (HBOS.L) is paying £21 million for 5% of Sainsbury’s (SBRY.L) in-store bank.*Vodafone (VOD.L) may be pipped at the post in the bid for Hutchison Essar as a fifth contender Russian-owned Altimo was set to join the fray.*Yorkshire Water owner Kelda (KEL.L) is to sell its US business Aquarion to a consortium led by Macquarie Bank.*Student accommodation provider Unite (UTG.L) is buying a portfolio of properties for £114.5 million.*British Energy (BGY.L) shares did nothing last week after rumours that the UK Government could dispose of a chunk of its shareholder after BE released figures last Tuesday.SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*Pressure on BP (BP.L) chief Lord Browne mounted after lawyers called for a freeze on his pension and pay-off packages which could read to £70 million.*World equity markets reached new highs last week amid economic growth fears.*Rolls Royce (RR.L) chief Sir John Rose warned of the risks of selling off UK plc.*Shares in private equity and hedge fund manager Fortress soared on their New York debut.*Virgin’s Richard Branson offered £13 million to anyone who invests an economical way of ridding the atmosphere of carbon.*De La Rue (DLAR.L) shares on an upbeat trading statement.*SCS Upholstery (SUY.L) shares were down yesterday after sales had been hit by weak demand.*Big Yellow Group (BYG.L) saw chairman sold shares worth £6.7 million.*The Footsie 100 hit a new six-year peak helped by crude oil rising to over $60 million a barrel.*JJB (JJB.L) said it faced costs of £3.8 million after price fixing charges.*Goldman Sachs is to shift one of its most senior executives, Edward Forst, chief administrative officer, from New York to London as the bank adapts its management structure to the grown of its business outside the US.*US car interiors group Lear agreed to be bought by activist investor Carl Icahn.*French presidential candidate Segolene Royal is to outline her policy proposals for the first time.*The OFT is to probe debit card fees offered by retailers.*The Food Standards Agency is considering the withdrawal of processed turkey from shops across the UK.*Paul Volker, former chairman of the US Federal Reserve, is to head an independent review into the controversial unit at the heart of the anti-corruption drive at the World Bank.
The Lex Column:*Fortress – enjoying a mad scramble for its shares. It is hard to disagree with someone close to do the deal who said that the share price was insane and ridiculous.*Although the FTSE 100 index has been breaking new highs all week, half its constituents have under performed the broader index by 6.8%.*First Group (FGP.L)/Greyhound - Other UK operators of buses have come a cropper in the US though the buoyant share price suggests shareholders are optimistic.*Share buy-backs – there are a few caveats with the fashionable options for companies.*BP (BP.L) - Lord Brown's final pay-packet was always going to be a lightning rod but now we have a US lawyer seeking to freeze Lord Browne’s pay and retirement benefits.THE TIMES
The Business Editor's Column:*John Lasseter, the Pixar film director, is embroiled in a stock option repricing scandal. Also Steve Jobs, found and head of Apple has been chairman and CEO of Pixar – which is awkward.*HSBC's (HSBA.L) Household group in the US underwent big defaults, and there is a message: never buy into a mature book.*Camelot – the changes of its retaining its Lottery licence are about one in just two.*Sainsbury (SBRY.L) bid watchers can probably afford to take their eyes off the ball next week. Richard Campbell-Breeden, the Goldman Sachs adviser to the private equity group interested in Sainsbury, is going ski-ing.DAILY TELEGRAPH
The Comment Column:*It looks as if in the LSE (ILSE.L) bid, Nasdaq's Bob Creifeld has lived to fight another day.*With all the foreign takeovers of British firms, the Government will have to take over responsibility of defending British jobs.
The Questor Column:*Housebuilders – long term Persimmon (PSN.L) and Barratt (BDEV.L) are the best bet.*Avanti Screenmedia (ASG.L) – trading at 16 times 2008's earnings, but few forecasts can factor in the value of a satellite and orbital licence.
What the Brokers Say:*Luminar (LMR.L) – Buy.*Vodafone (VOD.L) – Buy.*National Grid (NG.L) – Hold.*British Airways (BAY.L) – Hold.*Johnson Matthey (JMAT.L) – Sell.*Barratt Developments (BDEV.L) – Sell.*Xstrata (XTA.L) – Sell.*Friends Provident (FP.L) – Sell.*Diageo (DGE.L) – Hold.THE GUARDIAN
No share news today
");
//-->
SHARECRAZY BOOKSHOP OFFER - The Poolside TycoonShareCrazy's very own Malcolm Stacey, former Radio 4 investigative reporter, reveals more closely protected tips on how to make money on the stock market. These tips are disclosed to him by scores of financial experts, including captains of industry, investment bankers, City journalists and government ministers. By Malcolm Stacey. Normal price £8.99, ShareCrazy bookshop price of £8.09. You save £0.90.......CLICK HERE
THE INDEPENDENT
The Outlook Column:*The British deficit in goods and services last year as the highest on record in nominal terms. Luckily we have the City which has helped.*Private equity activity is unstoppable until some of the bigger deals go wrong that is.DAILY MAIL
*The LSE (LSE.L) could do the most exciting thing now: try to turn the tables on Nasdaq.*Trade deficit - this is short-termism on a grand scale which can only lead to Britain becoming a client economy no longer responsible for its own future.*FirstGroup’s (FGP.L) purchase of Greyhound set off an over-enthusiastic spate of share upgrades, but it is all early days, and remember what happened to Stagecoach (SGC.L) and HSBC (HSBA.L) in the US.DAILY EXPRESS
*Rolls-Royce (RR.L) shares still trade at a discount to the European aerospace and defence sector average and for no good reason.*An inevitable stock market shake out need be very dire or over long.DAILY MIRROR
No share news todayTHE SUN
No share news todayCOMMENT AND BID NEWS
*LSE (LSE.L) was poised to see off the Nasdaq bid as its shares closed well above Friday the offer price.*FirstGroup (FGP.L) and Stagecoach (SGC.L) prepare to do battle in the US in the wake of FirstGroup’s purchase of Greyhound buses and Stagecoach plans to expand its US venture.*HBOS (HBOS.L) is paying £21 million for 5% of Sainsbury’s (SBRY.L) in-store bank.*Vodafone (VOD.L) may be pipped at the post in the bid for Hutchison Essar as a fifth contender Russian-owned Altimo was set to join the fray.*Yorkshire Water owner Kelda (KEL.L) is to sell its US business Aquarion to a consortium led by Macquarie Bank.*Student accommodation provider Unite (UTG.L) is buying a portfolio of properties for £114.5 million.*British Energy (BGY.L) shares did nothing last week after rumours that the UK Government could dispose of a chunk of its shareholder after BE released figures last Tuesday.SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*Pressure on BP (BP.L) chief Lord Browne mounted after lawyers called for a freeze on his pension and pay-off packages which could read to £70 million.*World equity markets reached new highs last week amid economic growth fears.*Rolls Royce (RR.L) chief Sir John Rose warned of the risks of selling off UK plc.*Shares in private equity and hedge fund manager Fortress soared on their New York debut.*Virgin’s Richard Branson offered £13 million to anyone who invests an economical way of ridding the atmosphere of carbon.*De La Rue (DLAR.L) shares on an upbeat trading statement.*SCS Upholstery (SUY.L) shares were down yesterday after sales had been hit by weak demand.*Big Yellow Group (BYG.L) saw chairman sold shares worth £6.7 million.*The Footsie 100 hit a new six-year peak helped by crude oil rising to over $60 million a barrel.*JJB (JJB.L) said it faced costs of £3.8 million after price fixing charges.*Goldman Sachs is to shift one of its most senior executives, Edward Forst, chief administrative officer, from New York to London as the bank adapts its management structure to the grown of its business outside the US.*US car interiors group Lear agreed to be bought by activist investor Carl Icahn.*French presidential candidate Segolene Royal is to outline her policy proposals for the first time.*The OFT is to probe debit card fees offered by retailers.*The Food Standards Agency is considering the withdrawal of processed turkey from shops across the UK.*Paul Volker, former chairman of the US Federal Reserve, is to head an independent review into the controversial unit at the heart of the anti-corruption drive at the World Bank.
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