uk main day trader 20120417

8/2/2019 uk main day trader 20120417

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17 April 2012

UK Main (market)Day Trader


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Intellisys www.intellisys.uk.com 17 April 2012

Page 2 of 24 Intellisys 17 April 2012

Contents

Market Pictures - Indices ......................................................................... 5FTSE 100 ................................................................................................ 5FTSE 250 ................................................................................................ 6FTSE All Share Index ................................................................................ 7FTSE AIM All Share .................................................................................. 8

Market Pictures Interest Rates ............................................................ 10UK Bank Lending Rates ........................................................................... 10Eurozone Lending Rates .......................................................................... 11US Federal Funds Rate ........................................................................... 12

Market Pictures Exchange Rates ......................................................... 13Market Pictures - Oil............................................................................... 15Aerospace & Defence ....................................................................... 16Automobiles & Parts ........................................................................ 16Banks ....................................................................................... 16Beverages .................................................................................. 16Chemicals .................................................................................. 16Construction & Building Materials ........................................................ 16Electronics & Electrical Equipment ....................................................... 17Engineering & Machinery .................................................................. 17Food & Drug Stores ......................................................................... 17Food Producers & Processors ............................................................. 17General Retail ............................................................................... 18Health ........................................................................................ 18Household Goods & Textiles .............................................................. 18Information Technology & Hardware .................................................... 18Insurance .................................................................................. 18Leisure & Hotels ............................................................................ 19Life Assurance ............................................................................ 19Media & Entertainment .................................................................... 19Mining ........................................................................................ 19Oil & Gas ..................................................................................... 20Personal Care & Household Products .................................................... 20Pharmaceuticals & Biotechnology ........................................................ 20Software & Computer Services ........................................................... 20Speciality & Other Finance ................................................................ 20Support Services ............................................................................ 21Telecommunication Services .............................................................. 21Transport .................................................................................. 21Utilities ..................................................................................... 22DISCLAIMER ............................................................................................. 23


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IntroductionThe overriding purpose of this daily report is to provide users with a quick guidethat will identify those shares that merit their investment attention in anincreasingly time critical and information noisy trading environment.

The report is published daily and delivered to the subscribers personal email box,

typically, before the official open of the London Stock Markets.

Putting aside luck, Intellisys recognises that the timing and value of aninvestment are the two primary drivers behind a successful portfolio performance.

TimingIntellisys has invested considerably in identifying what it believes are the key

factors that influence investment timing. Having identified the key parameters,these have been established as rules that reflect market dynamics and cutthrough the daily investment noise.

Through this discipline, Intellisys has removed the emotional and sentimentalfactors as well as the daily pressures exerted upon primary stock promoters(analysts and traders) to find stories for their investment meetings.

From an analysis of a years data for 40 stocks within Intellisys stock coverage,the trading indicators appear to be, on average, about 77% accurate inidentifying good trading points as well as some 74% accurate for overall trend

correlation.

The following chart provides an indication the accuracy scores for each of the 40stocks analysed.

Individual Stock Recommendation & Trend Accuracy Scores

Source: Intellisys

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

Best Buy/Sell Trend


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Value

A similar discipline has been applied to the process of establishing Target Prices.On a daily basis, Intellisys analyses as broad an array of historic data from notonly the Profit & Loss Account but also the Balance Sheet and Cash flow

Statement and then utilises this data within its proprietary valuation models.

Intellisys architect, Philip Morrish, has successfully applied these disciplines to his

investment research for the last 15+ years. Additionally, these investment

valuation techniques lend themselves to accurate cross-border analysis.

The resultant Target is also discounted to a Net Present Value to make the

Target as realistically valid as possible.

Nevertheless, Intellisys recognises that Target Price delivery is not only a

function of market levels but a management teams ability to establish andmaintain a value generating operating environment set against a constantlychanging global background.

The typical investment analysts approach to determining target prices is to startwith a modest range of some 6 10 valuation measures and remove those that

are not providing the intuitive result. Intellysis approach is the opposite we useas many valuation methodologies as possible.

Further, Intellisys recognises that some target prices may appear strange orextreme. However, subscribers should not dismiss these outcomes but use them

as starting points to challenge their established or perceived valuation opinion ofa stock.

In short, this disciplined approach provides an investment reality check to assist

investors from falling in love with a stock or becoming mesmerised bymanagement cults.

ConclusionNo investment methodology is 100% successful and like all trading andinvestment systems active position monitoring is critical for maximisedinvestment performance.

Therefore, Intellisys recommends that its products should be used in conjunctionwith, and not separate from subscribers existing investment systems as well asdiscussing investment options with their financial advisers.

Philip Morrish ([email protected])

RISK WARNING Recommendations and Target Prices

Intellisys does not make personal recommendations. The information in thispublication is provided solely to enable you to make your own investmentdecisions.If you are unsure about dealing in shares and other equity investments, you

should contact your financial adviser as these types of investments may not besuitable for everyone.The value of stocks and shares, and the income from them, can fall as well as riseand you may not get back the full amount you originally invested. If denominated

in a foreign currency, fluctuations in the exchange rate will also affect the valueof stocks and shares and the income from them. Past performance is notnecessarily a guide to future performance.


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Market Pictures - Indices

FTSE 100

Index PE

3,512.1

3,987.5

4,944.4

5,666.3

6,082.9

6,091.3

6,732.4

2000 4000 6000 8000

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100

7.0

7.9

7.9

9.6

14.1

18.2

18.2

5 10 15 20

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100 PE

% change % change

1M -5.0; 3M 0.2; 12M -5.5 1M -6.5; 3M -6.4; 12M -30.8

Yield RSI

2.9

2.9

3.0

3.7

3.9

5.2

6.2

1.0 3.0 5.0 7.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100 DY

25.5

40.6

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE 100 RSI

% change

1M 5.8; 3M 3.4; 12M 21.6


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FTSE 250

Index PE

5,491.5

6,987.3

9,425.9

11,255.4

12,167.8

12,167.8

12,220.2

500 5500 10500 15500

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250

7.1

7.1

7.1

18.3

19.5

27.8

27.8

5 10 15 20 25 30

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250 PE

% change % change

1M -4.6; 3M 7.4; 12M -3.6 1M 3.2; 3M 14.8; 12M 5.9

Yield RSI

1.9

2.2

2.3

2.9

3.3

3.8

5.7

1.0 2.0 3.0 4.0 5.0 6.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250 DY

25.6

41.1

83.4

0 20 40 60 80 100

Lo

Last Close

Hi

FTSE 250 RSI

% change

1M 6.0; 3M -5.3; 12M 19.8


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FTSE All Share Index

Index PE

1,781.6

2,038.4

2,557.8

2,947.4

3,160.9

3,160.9

3,479.0

500 1500 2500 3500 4500

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE

7.4

8.5

8.5

10.4

14.6

19.5

19.5

5 10 15 20 25

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE PE

% change % change

1M -4.9; 3M 1.3; 12M -5.2 1M -6.0; 3M -4.1; 12M -27.7

Yield RSI

2.7

2.8

2.9

3.5

3.8

5.0

6.1

1.0 3.0 5.0 7.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE DY

25.4

40.5

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE ALL SHARE RSI

% change

1M 5.4; 3M 1.7; 12M 20.6


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FTSE AIM All Share

Index PE

373.8

448.9

657.8

776.0

921.6

968.3

1,236.6

200 700 1200 1700

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE

-203,906.0

-203,906.0

-203,906.0

-311.5

304.6

1,240.8

1,439.5

-250000 -200000 -150000 -100000 -50000 0 50000

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE PE

% change % change

1M -3.9; 3M 5.7; 12M -15.0 1M -216.8; 3M -420.0; 12M -66.6

Yield RSI

0.4

0.5

0.6

0.7

0.8

1.7

2.1

0.2 0.7 1.2 1.7 2.2

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE DY

23.6

36.9

91.9

0 50 100

Lo

Last Close

Hi

FTSE AIM ALL-SHARE RSI

% change

1M 6.1; 3M -1.4; 12M 16.7


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S&P 500

Index PE

676.5

832.4

1,099.2

1,369.6

1,419.0

1,419.0

1,565.2

400 900 1400 1900

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE

13.4

13.4

13.4

15.6

17.5

146.3

146.3

10 60 110 160

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE PE

% change % change

1M -2.5; 3M 6.2; 12M 3.8 1M -2.7; 3M 5.2; 12M -8.0

Yield RSI

1.8

1.8

1.9

2.2

2.4

2.6

3.4

0.5 1.5 2.5 3.5 4.5

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE DY

28.5

40.4

81.6

0 20 40 60 80 100

Lo

Last Close

Hi

S&P 500 COMPOSITE RSI

% change

1M 7.7; 3M 2.8; 12M 15.0


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Market Pictures Interest Rates

UK Bank Lending Rates

UK

0.50

0.50

0.50

0.50

0.50

0.50

5.75

0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

UK CLEARING BANKS BASE RATE

% change

1M 0.0; 3M 0.0; 12M 0.0

UK Lending PE

200.0

200.0

200.0

200.0

200.0

200.0

17.4

10 60 110 160 210

5Y Hi

3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

UK CLEARING BANKS BASE RATE PE


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Eurozone Lending Rates

Eurozone

1.75

1.75

1.75

1.75

2.25

2.25

5.25

0.00 1.00 2.00 3.00 4.00 5.00 6.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

EUROZONE MARGINAL LENDING RATE

% change

1M 0.0; 3M 0.0; 12M -12.5

Eurozone Lending PE

57.1

57.1

57.1

57.1

44.4

44.4

19.0

10 20 30 40 50 60

5Y Hi

3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

EUROZONE MARGINAL LENDING RATE - PE


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US Federal Funds Rate

US

0.04

0.04

0.04

0.15

0.17

0.25

5.41

0.00 1.00 2.00 3.00 4.00 5.00 6.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US FEDERAL FUNDS RATE

% change

1M 0.0; 3M 87.5; 12M 25.0

US Lending PE

2,500.0

2,500.0

2,500.0

666.7

588.2

400.0

18.5

10 510 1010 1510 2010 2510 3010

5Y Hi

3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

US FEDERAL FUNDS RATE - PE


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Market Pictures Exchange Rates

US$/

1.37

1.43

1.53

1.58

1.67

1.70

2.11

1.00 1.20 1.40 1.60 1.80 2.00 2.20

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US$/

% change

1M 0.0; 3M 3.4; 12M -2.8

/

1.02

1.07

1.11

1.21

1.21

1.24

1.50

1.00 1.10 1.20 1.30 1.40 1.50 1.60

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

EURO/

% change

1M 0.8; 3M 0.3; 12M 7.3


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Market Pictures Exchange Rates

US$/

1.19

1.19

1.27

1.31

1.48

1.51

1.60

0.80 1.00 1.20 1.40 1.60 1.80

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US$/EURO

% change

1M -0.3; 3M 3.8; 12M -9.0

/

117.1

117.1

117.1

127.3

136.6

162.5

250.1

100.0 150.0 200.0 250.0 300.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

YEN/

% change

1M -3.6; 3M 8.3; 12M -6.1


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Market Pictures - Oil

Brent Monthly FOB US$/bbl

34.6

48.3

104.0

118.9

126.6

126.6

145.6

0 50 100 150 200

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

Oil (Brent) Monthly FOB U$/bbl

% change

1M -4.70; 3M 6.57; 12M -4.13


Intellisys does not make personal recommendations. The information in thispublication is provided solely to enable you to make your own investmentdecisions.

If you are unsure about dealing in shares and other equity investments, you

should contact your financial adviser as these types of investments may not besuitable for everyone.

The value of stocks and shares, and the income from them, can fall as well as riseand you may not get back the full amount you originally invested. If denominatedin a foreign currency, fluctuations in the exchange rate will also affect the valueof stocks and shares and the income from them. Past performance is notnecessarily a guide to future performance.


16/24



Aerospace & Defence

Stock Price 12M Lo 12M Hi ST Rec BetaBAE SYSTEMS 295.2 248.1 340.8 Neutral 0.646CHEMRING GROUP 379 368.8 677 Neutral 0.519COBHAM 233.4 165.9 237.2 Neutral 0.907MEGGITT 404 305 412 Neutral 1.338ROLLS-ROYCE HOLDINGS 821.5 552.19 842.5 Neutral 1.098SMITHS GROUP 1037 869.5 1340 Neutral 0.725ULTRA ELECTRONICS HDG. 1683 1305 1780 Neutral 0.597UMECO 560 243.5 560 Sell 0.800

Automobiles & Parts

Stock Price 12M Lo 12M Hi ST Rec Beta

GKN 203.7 157 245 Neutral 1.977INCHCAPE 359.2 268.6 425.4 Neutral 1.415LOOKERS 62 47 72.75 Neutral 1.343PENDRAGON 13.25 6.8 19.71 Neutral 1.135

Banks

Stock Price 12M Lo 12M Hi ST Rec BetaBARCLAYS 210.8 138.85 301.85 Neutral 1.860HSBC HDG. (ORD $0.50) 541.3 463.5 662.5 Neutral 1.142

LLOYDS BANKING GROUP 29.71 21.84 60.39 Sell 1.768ROYAL BANK OF SCTL.GP. 24.27 17.34 42.91 Sell 1.291STANDARD CHARTERED 1499 1169.5 1672 Neutral 1.707

Beverages

Stock Price 12M Lo 12M Hi ST Rec BetaBARR (AG) 1183 1031 1395 Neutral 0.427DIAGEO 1543.5 1112 1553 Sell 0.547SABMILLER 2542.5 1979 2660 Neutral 0.987

Chemicals

Stock Price 12M Lo 12M Hi ST Rec BetaCRODA INTERNATIONAL 2190 1597 2238 Neutral 1.082ELEMENTIS 197.5 107.5 204.8 Neutral 1.070JOHNSON MATTHEY 2341 1523 2408 Neutral 1.465VICTREX 1438 1025 1590 Neutral 1.222YULE CATTO 238.2 148 253 Neutral 1.289ZOTEFOAMS 170 109 186.5 Neutral 1.008

Construction & Building Materials

Stock Price 12M Lo 12M Hi ST Rec BetaBALFOUR BEATTY 271.9 214.6 333.7 Neutral 0.836BARRATT DEVELOPMENTS 133.3 67.5 151.5 Neutral 1.447BELLWAY 791.5 540.5 859.5 Neutral 1.013BERKELEY GROUP HDG.(THE) 1288 1025 1414 Neutral 0.682BOVIS HOMES GROUP 473.1 326.5 518.5 Neutral 1.070CARILLION 275 275 403.2 Buy 1.092CLARKE (T) 53.5 35.5 102 Neutral 0.804

COSTAIN GROUP 215.75 180 247.5 Neutral 0.558GALLIFORD TRY 612 383.75 628 Neutral 1.052KELLER 434.75 239.25 671.5 Neutral 1.323KIER GROUP 1132 1095 1489 Neutral 1.040LOW & BONAR 60.75 38 76.75 Neutral 1.106MARSHALLS 94.75 83.25 124.5 Neutral 1.353MORGAN SINDALL GROUP 663 510 725 Neutral 0.887PERSIMMON 626 374 706.5 Neutral 1.099REDROW 127 103.5 135.3 Neutral 0.971SIG 107.3 76.95 153.5 Neutral 1.590TAYLOR WIMPEY 49.79 28.71 52.75 Neutral 1.497TRAVIS PERKINS 1049 715 1125 Neutral 1.893WOLSELEY 2355 1404 2558 Neutral 1.439


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Electronics & Electrical Equipment

Stock Price 12M Lo 12M Hi ST Rec BetaDIALIGHT 1010 643.5 1010 Sell 0.762DOMINO PRINTING SCIENCES 592.5 434.3 701.5 Neutral 1.178E2V TECHNOLOGIES 121.38 86.75 146.5 Neutral 1.352INVENSYS 189.2 180.9 340.6 Neutral 1.470LAIRD 217.9 127.9 222 Neutral 2.167OXFORD INSTRUMENTS 1211 714 1262 Sell 0.990RENISHAW 1300 800 1886 Neutral 1.288SPECTRIS 1818 1039 1837 Sell 1.429BIOME TECHNOLOGIES 0.2 0.14 0.28 Neutral 0.639TT ELECTRONICS 179 120.5 208 Neutral 1.600XAAR 231.63 212 295 Neutral 1.134

Engineering & Machinery

Stock Price 12M Lo 12M Hi ST Rec BetaAGA RANGEMASTER GROUP 84.5 62.5 124 Neutral 1.321BODYCOTE 394.3 225.6 426.5 Neutral 1.585CASTINGS 300 252.5 358 Neutral 0.984COOKSON GROUP 716.5 395.8 732.5 Neutral 2.288FENNER 424.5 280 483.7 Neutral 1.412HALMA 394.7 306.3 429.6 Neutral 0.764HILL & SMITH 317.5 235 393.5 Neutral 1.412IMI 932.5 636.5 1119 Neutral 1.404

METALRAX GROUP 8.25 7.25 12 Neutral 0.855MORGAN CRUCIBLE 333.9 224 360 Neutral 1.771ROTORK 2071 1501 2099 Neutral 0.987SENIOR 200.3 135.6 203 Neutral 1.765SEVERFIELD-ROWEN 175 150 250 Neutral 1.065SPIRAX-SARCO 2208 1649 2243 Neutral 0.850VITEC GROUP 673.75 488 690 Neutral 1.517WEIR GROUP 1663 1375 2236 Neutral 1.385

Food & Drug Stores

Stock Price 12M Lo 12M Hi ST Rec BetaGREGGS 516.5 445 558 Neutral 0.516MORRISON(WM)SPMKTS. 294 277 328 Neutral 0.446SAINSBURY (J) 305.2 263.5 362.8 Neutral 0.638

TESCO 320.9 310.45 420.05 Neutral 0.733THORNTONS 28.38 9.5 81.5 Neutral 0.766

Food Producers & Processors

Stock Price 12M Lo 12M Hi ST Rec BetaASSOCIATED BRIT.FOODS 1203 977 1233 Neutral 0.599CRANSWICK 807.5 588.5 841 Neutral 0.598DAIRY CREST 310 310 409.7 Neutral 0.931DEVRO 311.3 232 332.2 Neutral 0.333PREMIER FOODS 16.5 3.29 35.12 Neutral 1.403TATE & LYLE 687.5 544.5 720.5 Neutral 0.627UNILEVER (UK) 2038 1892 2189 Neutral 0.582


18/24



General Retail

Stock Price 12M Lo 12M Hi ST Rec BetaASHLEY(LAURA) HOLDINGS 23.5 16 23.75 Neutral 0.710BROWN (N) GROUP 222.4 222.4 304.5 Neutral 0.485BURBERRY GROUP 1586 1092 1600 Neutral 1.363CARPETRIGHT 613 375 741 Neutral 1.034CLINTON CARDS 9.25 7.5 18.13 Sell 0.654DIXONS RETAIL 16.7 9.36 19.91 Neutral 1.451FINDEL 3.43 2.2 8.7 Neutral 0.968FRENCH CONNECTN.GROUP 44.63 36 106 Neutral 0.929HALFORDS GROUP 290.9 269.5 405.9 Neutral 0.637JJB SPORTS 13.12 5.2 31 Sell 0.875JD SPORTS FASHION 801.5 570 1030 Neutral 0.484KESA ELECTRICALS 59 59 151.4 Neutral 1.279KINGFISHER 301.4 217 313.8 Neutral 0.970MARKS & SPENCER GROUP 367.7 301.8 402.2 Neutral 0.739MOSS BROTHERS GROUP 48 26 48.25 Neutral 1.065MOTHERCARE 162 127.3 448.5 Neutral 0.562NEXT 2936 2153 3060 Neutral 0.777TED BAKER 861 633 863.5 Sell 0.561TOPPS TILES 38.75 21.5 77 Neutral 1.325

Health


CONSORT MEDICAL 653 498 653 Neutral 0.393CORIN GROUP 40.25 36.5 59 Neutral 0.756SMITH & NEPHEW 605.5 521 694 Buy 0.355

Household Goods & Textiles

Stock Price 12M Lo 12M Hi ST Rec BetaHARVARD INTL. 44 21.75 44 Neutral 0.483GAMES WORKSHOP 570 405 577.5 Neutral 0.381HEADLAM GROUP 295.25 233.25 310 Neutral 0.926HORNBY 95 93 145 Neutral 0.653

Information Technology & Hardware


ARM HOLDINGS 599 464 645 Neutral 0.762CSR 211.6 154.1 391.4 Neutral 1.202FILTRONIC 32.75 14.5 35 Sell 0.659IMAGINATION TECHNOLOGIES 686.5 296.9 717 Neutral 0.959PSION 56.75 41 101.5 Neutral 1.162SPIRENT COMMUNICATIONS 167.1 105.8 172.8 Neutral 1.014WOLFSON MICROELECTRONICS 180.5 96 244.5 Neutral 1.064

Insurance

Stock Price 12M Lo 12M Hi ST Rec BetaADMIRAL GROUP 1174 787 1754 Neutral 0.513AMLIN 324.7 270.6 427 Neutral 0.488BEAZLEY 139.1 109.6 151.8 Neutral 0.512CATLIN GROUP 412.9 336 449 Neutral 0.306HISCOX 390 340.5 424.7 Neutral 0.496

JARDINE LLOYD THOMPSON 669 576 764.5 Neutral 0.318RSA INSURANCE GROUP 102 99.6 139.8 Buy 0.432NOVAE GROUP 369.5 285 385.25 Neutral 0.497


19/24



Leisure & Hotels

Stock Price 12M Lo 12M Hi ST Rec BetaCARNIVAL 1942 1742 2642 Neutral 1.076ENTERPRISE INNS 60.5 26.5 96.15 Neutral 1.728TUI TRAVEL 194 136.7 250 Neutral 0.951FULLER SMITH 'A' 725.5 609 752 Neutral 0.441GREENE KING 512 410 523.5 Neutral 0.864LADBROKES 162.9 114 165 Neutral 0.997ICTL.HTLS.GP. 1446 955 1497 Neutral 1.310MILLENNIUM & CPTH.HTLS. 477.4 371.2 535.5 Neutral 1.405MITCHELLS & BUTLERS 257.9 215.6 336.8 Neutral 1.023BWIN PARTY DIGITAL ENTM. 156.2 100.6 174 Neutral 1.256PUNCH TAVERNS 10.25 9.14 15.57 Neutral 1.295RANK GROUP 121 109.5 153.7 Neutral 0.987RESTAURANT GROUP 287 254.9 335 Neutral 0.852WETHERSPOON (JD) 405.1 380.5 468.3 Neutral 0.724WHITBREAD 1841 1409 1870 Neutral 1.017WILLIAM HILL 259.1 183.3 265 Neutral 0.943MARSTON'S 98.65 84.6 112 Neutral 1.255

Life Assurance

Stock Price 12M Lo 12M Hi ST Rec BetaAVIVA 298.3 275.3 450.3 Neutral 1.259CHESNARA 183 161.75 255 Neutral 0.582

LEGAL & GENERAL 120.8 89.8 135 Neutral 1.666OLD MUTUAL 152.2 98.05 164.6 Neutral 1.660PRUDENTIAL 722 509 797.5 Neutral 1.721ST.JAMES'S PLACE 335.4 294 376 Neutral 0.814

Media & Entertainment

Stock Price 12M Lo 12M Hi ST Rec BetaAEGIS GROUP 175.1 116.17 187.4 Neutral 1.306BLOOMSBURY PBL. 108.88 91.25 138 Neutral 0.507BRITISH SKY BCAST.GROUP 647.5 618.5 850 Neutral 0.607CENTAUR MEDIA 36.75 32.5 56.25 Neutral 1.041DAILY MAIL 'A' 444.6 343.4 505.5 Neutral 1.086EUROMONEY INSTL.INVESTOR 750 522.5 809.5 Neutral 1.054INFORMA 424.8 313.9 451 Neutral 1.517

ITE GROUP 221.6 157.7 258 Neutral 1.418ITV 84.8 51.65 89.9 Neutral 1.521JOHNSTON PRESS 6 4.11 8.18 Neutral 1.461PEARSON 1124 1038 1255 Neutral 0.662PHOTO-ME INTL. 48.13 41.5 67 Neutral 0.857PINEWOOD SHEPPERTON 285 190.88 292 Sell 0.348THOMSON REUTERS 28.47 26.21 39.25 Neutral 0.509STV GROUP 113.12 76.25 168 Neutral 0.811ST.IVES 75.25 68.5 102.25 Neutral 1.450TRINITY MIRROR 33.75 33.75 54.25 Neutral 1.566UBM 603.5 416 641.5 Neutral 1.296WILMINGTON GROUP 96.38 78.5 151 Neutral 0.863WPP 843.5 578 880 Neutral 1.290YELL GROUP 3.5 3.35 11 Neutral 1.318

MiningStock Price 12M Lo 12M Hi ST Rec BetaANGLO AMERICAN 2227.5 2138.5 3181 Neutral 1.748ANGLO PACIFIC GROUP 295.4 237.9 340 Neutral 0.947ANTOFAGASTA 1120 900.5 1491 Neutral 1.384BHP BILLITON 1892.5 1667 2560 Neutral 1.402LONMIN 982.5 941 1646 Neutral 1.918RANDGOLD RESOURCES 5550 4580 7565 Neutral 0.333RIO TINTO 3440 2712.5 4595 Neutral 1.424UK COAL 14.75 14.75 47 Neutral 0.941VEDANTA RESOURCES 1162 928 2366 Neutral 2.095XSTRATA 1100 764 1550 Neutral 1.782


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Oil & Gas

Stock Price 12M Lo 12M Hi ST Rec BetaBG GROUP 1400 1144 1547 Neutral 0.701BP 442.95 363.2 504.6 Neutral 1.059CAIRN ENERGY 327 291.86 515.11 Neutral 1.360FORTUNE OIL 10.75 9 14.75 Neutral 0.861HUNTING 890 530 968 Neutral 1.304JKX OIL & GAS 143.5 120.5 314 Neutral 1.355MELROSE RESOURCES 119.5 95.25 292.25 Neutral 1.142PREMIER OIL 376.4 310 500.75 Neutral 1.359ROYAL DUTCH SHELL A(LON) 2123 1883.5 2402 Neutral 0.912ROYAL DUTCH SHELL B 2171 1890.5 2489 Neutral 0.922SOCO INTERNATIONAL 285.9 278 397.5 Buy 0.465TULLOW OIL 1451 945.5 1601 Neutral 1.064WOOD GROUP (JOHN) 693.5 469.9 763.5 Neutral 1.356

Personal Care & Household Products

Stock Price 12M Lo 12M Hi ST Rec BetaMCBRIDE 123.25 108.75 151.06 Neutral 0.873PZ CUSSONS 319 285 387.9 Neutral 0.741RECKITT BENCKISER GROUP 3560 3100 3599 Neutral 0.335

Pharmaceuticals & Biotechnology

Stock Price 12M Lo 12M Hi ST Rec BetaARK THERAPEUTICS GP. 3.5 3.13 5.35 Buy 0.967ASTRAZENECA 2801 2543.5 3194 Neutral 0.454BTG 354.3 236.8 365 Neutral 0.726DECHRA PHARMACEUTICALS 516 433 579 Neutral 0.315GLAXOSMITHKLINE 1427.5 1205 1497 Neutral 0.485OXFORD BIOMEDICA 5.8 2.88 7.2 Neutral 0.613PHYTOPHARM 7.18 6.4 9.5 Buy 0.924SHIRE 1980 1818 2300 Neutral 0.631SKYEPHARMA 41.5 31 66.13 Neutral 0.702VERNALIS 24.25 18.75 49 Neutral 0.824

Software & Computer Services


TIMEWEAVE 22.13 21.75 27 Neutral 0.731ANITE 126.25 57.75 129.75 Neutral 0.836AVEVA GROUP 1622 1298 1799 Neutral 1.479COMPUTACENTER 440.1 324.7 490 Neutral 1.092KOFAX 303 225 503.5 Neutral 1.110INNOVATION GROUP 20.75 16.63 23 Sell 0.922LOGICA 78.6 58.95 144.8 Neutral 1.357MICRO FOCUS INTL. 465.4 242.9 476.7 Neutral 0.748MISYS 348.4 214.9 420.2 Neutral 1.326PHOENIX IT GROUP 190 154.75 262.75 Neutral 0.879RM 78.75 41.5 156.63 Neutral 0.482FIDESSA GROUP 1590 1444 2109 Neutral 0.818SAGE GROUP 286.4 231.7 312.4 Neutral 0.649

Speciality & Other Finance

Stock Price 12M Lo 12M Hi ST Rec BetaABERDEEN ASSET MAN. 268.8 167.8 269.1 Neutral 1.073BREWIN DOLPHIN 164.5 113.7 177 Neutral 0.722CAMELLIA 9825 8800 10950 Neutral 0.870CHARLES STANLEY GROUP 285 240 350 Neutral 0.956CHARLES TAYLOR CNSL. 149.5 115.63 160 Neutral 0.699CLOSE BROTHERS GROUP 724.5 590 820 Neutral 0.831F&C ASSET MANAGEMENT 65.45 56.05 81.7 Neutral 0.912HELPHIRE GROUP 1.8 1.36 14 Neutral 0.668HENDERSON GROUP 120.7 95.05 163.7 Neutral 1.416ICAP 369.2 311.6 524 Neutral 1.062INTERMEDIATE CAPITAL GP. 256.3 197.9 345 Neutral 1.647INVESTEC 349.7 318.4 522 Neutral 1.555LONDON STOCK EX.GROUP 1046 756.5 1076 Neutral 1.168MAN GROUP 105.1 104.5 259.6 Buy 1.270

RATHBONE BROTHERS 1265 977 1316 Neutral 0.738SCHRODERS 1442 1183 1906 Neutral 1.305SCHRODERS NV 1135 970 1554 Neutral 1.299


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Support Services

Stock Price 12M Lo 12M Hi ST Rec BetaACAL 197.5 166.25 344 Neutral 0.938AGGREKO 2186 1522 2316 Neutral 1.162AMEC 1071 740.5 1207 Neutral 1.008ASHTEAD GROUP 240.7 99.4 271.1 Neutral 1.523BABCOCK INTL. 815 570.5 835 Neutral 0.556BRITISH POLYTHENE INDS. 359.75 270 392.5 Neutral 0.730BUNZL 1007 676.5 1028 Neutral 0.542UK MAIL GROUP 238 192.25 318.5 Neutral 0.342CAPITA 735.5 611.5 767 Neutral 0.434COMMUNISIS 32 23.75 39.75 Neutral 0.765COMPASS GROUP 642.5 512.5 671 Neutral 0.710BERENDSEN 522 402.7 568 Neutral 1.017DE LA RUE 898 730 1001 Neutral #NADIGNITY 826 725 854.5 Neutral 0.202DIPLOMA 429.1 284 453 Neutral 1.013ELECTROCOMP. 233.9 182.2 294.9 Neutral 1.014FILTRONA 481 296.3 484.5 Sell 1.114G4S 287.9 219.9 292.1 Neutral 0.584HAYS 88.1 58.85 119.6 Neutral 0.981HOMESERVE 224 214.7 532 Neutral 0.654INTERSERVE 280.8 255 341.25 Neutral 1.346INTERTEK GROUP 2496 1744 2570 Neutral 0.864JOHNSON SERVICE GROUP 29.63 25.25 36 Neutral 1.137

MANAGEMENT CNSL.GP. 39.13 27.75 45.5 Neutral 0.680MENZIES (JOHN) 606 445.5 616.5 Neutral 1.467MICHAEL PAGE INTL. 435 323 567 Neutral 1.350MITIE GROUP 285.6 202.1 288.3 Neutral 0.610MOUCHEL GROUP 8 4.75 78 Sell 0.913OFFICE2OFFICE 160.5 122 166.5 Neutral 0.393PAYPOINT 647 450 670 Neutral 0.719PREMIER FARNELL 205.6 144.5 301 Neutral 1.184REGUS 113.4 64 117.5 Neutral 1.396RENTOKIL INITIAL 86.1 58.2 100.9 Neutral 1.296REXAM 426.2 299.8 436 Neutral 0.868RICARDO 358.25 325 410 Neutral 0.819ROBERT WALTERS 264.5 158.25 326 Neutral 1.252RPC GROUP 369.8 300.5 393.2 Neutral 0.837RPS GROUP 228.5 156.6 253 Neutral 1.576

SERCO GROUP 538 458 597.5 Neutral 0.571SHANKS GROUP 93.2 90.8 130.9 Neutral 1.460SPEEDY HIRE 26.75 18.5 34 Neutral 1.311TRIBAL GROUP 72.75 38.5 79.75 Neutral 0.625TRIFAST 43.5 36.25 52.88 Neutral 0.880VP 256.38 191 258 Neutral 0.903WYG 54.5 47 956.25 Sell 0.766WSP GROUP 238 160 366.75 Neutral 0.949

Telecommunication Services

Stock Price 12M Lo 12M Hi ST Rec BetaBT GROUP 215.7 161 232.1 Neutral 0.919CABLE & WIRELESS COMMS. 30.7 30.7 48.92 Buy 0.649INMARSAT 421.7 389.3 620 Neutral 0.532

KCOM GROUP 70.25 59.75 84 Neutral 1.268TELECOM PLUS 681 470 802 Neutral 0.044VODAFONE GROUP 170 155.05 182.7 Neutral 0.626

Transport

Stock Price 12M Lo 12M Hi ST Rec BetaBBA AVIATION 210 156 223.4 Neutral 1.406BRAEMAR SHIPPING SVS. 395 282 505 Neutral 0.944CLARKSON 1322 1015 1367 Neutral 0.812EASYJET 480.1 302.54 495.8 Neutral 0.767FIRST GROUP 197.5 197.5 370.2 Buy 1.076FISHER(JAMES)& SONS 601.5 440.5 615 Neutral 0.825GO-AHEAD GROUP 1125 1125 1598 Neutral 0.940NATIONAL EXPRESS 225 201.6 270.2 Neutral 1.284NORTHGATE 190 190 342 Neutral 1.380

STAGECOACH GROUP 240.5 219.96 287.4 Neutral 0.876WINCANTON 59.25 56 123.25 Neutral 0.851


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Utilities

Stock Price 12M Lo 12M Hi ST Rec BetaCENTRICA 318.8 278.8 333 Neutral 0.486NATIONAL GRID 645.5 569 659 Neutral 0.550PENNON GROUP 723 623.5 737.5 Neutral 0.590SEVERN TRENT 1578 1375 1610 Neutral 0.461UNITED UTILITIES GROUP 598 560 637 Neutral 0.575


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