uk main day trader 20120402

8/2/2019 uk main day trader 20120402

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02 April 2012

UK Main (market)Day Trader


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Intellisys www.intellisys.uk.com 02 April 2012

Page 2 of 24 Intellisys 02 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

3,925.5

4,944.4

5,768.5

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

9.8

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 -1.8; 3M 3.5; 12M -3.0 1M -2.1; 3M -3.1; 12M -29.3

Yield RSI

2.9

2.9

3.0

3.6

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

36.1

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE 100 RSI

% change

1M 5.0; 3M -0.3; 12M 18.2


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FTSE 250

Index PE

5,491.5

6,373.9

9,425.9

11,538.9

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

18.9

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 0.8; 3M 14.2; 12M -1.2 1M 9.8; 3M 23.7; 12M 10.0

Yield RSI

1.9

2.2

2.3

2.8

3.3

4.2

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

48.2

83.4

0 20 40 60 80 100

Lo

Last Close

Hi

FTSE 250 RSI

% change

1M 2.6; 3M -11.3; 12M 16.0


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FTSE All Share Index

Index PE

1,781.6

1,984.2

2,557.8

3,002.8

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

10.6

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 -1.4; 3M 5.1; 12M -2.8 1M -1.0; 3M -0.4; 12M -26.1

Yield RSI

2.7

2.8

2.9

3.5

3.8

5.1

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

38.3

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE ALL SHARE RSI

% change

1M 4.9; 3M -2.0; 12M 17.4


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FTSE AIM All Share

Index PE

373.8

412.7

657.8

795.1

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

-581.6

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 -3.7; 3M 14.7; 12M -11.6 1M -655.6; 3M -704.6; 12M 64.6

Yield RSI

0.4

0.5

0.6

0.7

0.8

1.9

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

16.5

45.6

91.9

0 50 100

Lo

Last Close

Hi

FTSE AIM ALL-SHARE RSI

% change

1M 9.8; 3M -8.2; 12M 17.5


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S&P 500

Index PE

676.5

797.9

1,099.2

1,408.5

1,416.5

1,416.5

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

16.3

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 3.1; 3M 12.0; 12M 6.0 1M 3.6; 3M 11.7; 12M -5.6

Yield RSI

1.8

1.8

1.9

2.1

2.4

2.7

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

30.0

61.7

81.6

0 20 40 60 80 100

Lo

Last Close

Hi

S&P 500 COMPOSITE RSI

% change

1M -1.9; 3M -7.2; 12M 7.9


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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

2.50

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 0.0

Eurozone Lending PE

57.1

57.1

57.1

57.1

44.4

40.0

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

0.13

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 30.0; 3M 225.0; 12M 0.0

US Lending PE

2,500.0

2,500.0

2,500.0

769.2

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

1.60

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 2.8; 12M -0.5

/

1.02

1.07

1.11

1.20

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 0.5; 3M 0.2; 12M 5.3


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Market Pictures Exchange Rates

US$/

1.19

1.19

1.27

1.33

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 0.1; 3M 3.1; 12M -5.5

/

117.1

117.1

117.1

131.5

139.4

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 1.7; 3M 10.0; 12M -1.4


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Market Pictures - Oil

Brent Monthly FOB US$/bbl

34.6

46.3

104.0

123.2

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 1.00; 3M 13.82; 12M 6.96


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 299.9 248.1 340.8 Neutral 0.653CHEMRING GROUP 407.5 368.8 712 Neutral 0.528COBHAM 229.1 165.9 236.5 Neutral 0.924MEGGITT 403.9 305 408.3 Neutral 1.340ROLLS-ROYCE HOLDINGS 812 552.19 842.5 Neutral 1.097SMITHS GROUP 1052 869.5 1340 Neutral 0.722ULTRA ELECTRONICS HDG. 1749 1305 1779 Neutral 0.604UMECO 388.5 243.5 499.88 Neutral 0.793

Automobiles & Parts

Stock Price 12M Lo 12M Hi ST Rec BetaGKN 206.1 157 245 Neutral 1.978INCHCAPE 376.2 268.6 425.4 Neutral 1.424LOOKERS 62.5 47 72.75 Neutral 1.355PENDRAGON 13.5 6.8 19.71 Neutral 1.143

Banks

Stock Price 12M Lo 12M Hi ST Rec BetaBARCLAYS 235.25 138.85 308.85 Neutral 1.847HSBC HDG. (ORD $0.50) 554.8 463.5 667.2 Neutral 1.134

LLOYDS BANKING GROUP 33.6 21.84 62.36 Sell 1.757ROYAL BANK OF SCTL.GP. 27.64 17.34 44.43 Sell 1.278STANDARD CHARTERED 1560 1169.5 1690 Neutral 1.701

Beverages

Stock Price 12M Lo 12M Hi ST Rec BetaBARR (AG) 1181 1031 1395 Neutral 0.412DIAGEO 1502.5 1112 1553 Neutral 0.551SABMILLER 2509.5 1979 2660 Neutral 0.979

Chemicals

Stock Price 12M Lo 12M Hi ST Rec BetaCRODA INTERNATIONAL 2106 1597 2238 Neutral 1.083ELEMENTIS 184.6 107.5 196.1 Neutral 1.083JOHNSON MATTHEY 2359 1523 2403 Neutral 1.466VICTREX 1350 1025 1590 Neutral 1.227YULE CATTO 248 148 253 Neutral 1.284ZOTEFOAMS 186.5 109 186.5 Neutral 1.043

Construction & Building Materials

Stock Price 12M Lo 12M Hi ST Rec BetaBALFOUR BEATTY 285.5 214.6 343.8 Neutral 0.846BARRATT DEVELOPMENTS 141 67.5 151.5 Neutral 1.433BELLWAY 818 540.5 859.5 Neutral 1.020BERKELEY GROUP HDG.(THE) 1320 1019 1414 Neutral 0.689BOVIS HOMES GROUP 481.8 326.5 518.5 Neutral 1.080CARILLION 298.4 281 403.2 Neutral 1.095CLARKE (T) 51 35.5 104 Neutral 0.828

COSTAIN GROUP 220 180 262 Neutral 0.589GALLIFORD TRY 625 375 628 Neutral 1.049KELLER 441 239.25 671.5 Neutral 1.328KIER GROUP 1134 1097 1489 Neutral 1.043LOW & BONAR 61 38 76.75 Neutral 1.097MARSHALLS 98.5 83.25 124.5 Neutral 1.348MORGAN SINDALL GROUP 678 510 725 Neutral 0.894PERSIMMON 640 374 706.5 Neutral 1.095REDROW 129.1 103.5 135.3 Neutral 0.972SIG 117.4 76.95 153.5 Neutral 1.597TAYLOR WIMPEY 51.5 28.71 52.75 Neutral 1.514TRAVIS PERKINS 1079 715 1112 Neutral 1.886WOLSELEY 2384 1404 2558 Neutral 1.416


17/24



Electronics & Electrical Equipment

Stock Price 12M Lo 12M Hi ST Rec BetaDIALIGHT 920 643.5 921 Sell 0.754DOMINO PRINTING SCIENCES 558 434.3 701.5 Neutral 1.176E2V TECHNOLOGIES 122.25 86.75 146.5 Neutral 1.337INVENSYS 199 180.9 351.8 Neutral 1.470LAIRD 215.2 127.9 217.6 Neutral 2.211OXFORD INSTRUMENTS 1215 700 1262 Neutral 0.979RENISHAW 1330 800 1886 Neutral 1.283SPECTRIS 1803 1039 1835 Neutral 1.426BIOME TECHNOLOGIES 0.18 0.14 0.28 Neutral 0.627TT ELECTRONICS 162.75 120.5 208 Neutral 1.602XAAR 240 212 295 Neutral 1.123

Engineering & Machinery

Stock Price 12M Lo 12M Hi ST Rec BetaAGA RANGEMASTER GROUP 89 62.5 126.75 Neutral 1.329BODYCOTE 386.2 225.6 426.5 Neutral 1.602CASTINGS 307 252.5 358 Neutral 0.977COOKSON GROUP 691 395.8 724.5 Neutral 2.290FENNER 433.5 280 483.7 Neutral 1.406HALMA 380.6 306.3 429.6 Neutral 0.761HILL & SMITH 335 235 393.5 Neutral 1.416IMI 972.5 636.5 1119 Neutral 1.422

METALRAX GROUP 8.87 7.25 12 Neutral 0.859MORGAN CRUCIBLE 322 224 360 Neutral 1.764ROTORK 2049 1501 2099 Neutral 0.996SENIOR 199.9 135.6 201 Neutral 1.768SEVERFIELD-ROWEN 180.25 150 265 Neutral 1.064SPIRAX-SARCO 2089 1649 2184 Neutral 0.864VITEC GROUP 673.5 488 673.5 Neutral 1.522WEIR GROUP 1764 1375 2236 Neutral 1.391

Food & Drug Stores

Stock Price 12M Lo 12M Hi ST Rec BetaGREGGS 520.5 445 558 Neutral 0.529MORRISON(WM)SPMKTS. 298 276 328 Neutral 0.457SAINSBURY (J) 311.3 263.5 362.8 Neutral 0.647

TESCO 330 310.45 420.05 Neutral 0.741THORNTONS 27.75 9.5 82.5 Sell 0.776

Food Producers & Processors

Stock Price 12M Lo 12M Hi ST Rec BetaASSOCIATED BRIT.FOODS 1220 977 1228 Neutral 0.604CRANSWICK 805 588.5 841 Neutral 0.589DAIRY CREST 333.1 311 409.7 Neutral 0.935DEVRO 305.7 232 332.2 Neutral 0.322PREMIER FOODS 16.25 3.29 35.12 Neutral 1.423TATE & LYLE 705 544.5 720.5 Neutral 0.632UNILEVER (UK) 2064 1885 2189 Neutral 0.605


18/24



General Retail

Stock Price 12M Lo 12M Hi ST Rec BetaASHLEY(LAURA) HOLDINGS 23.75 16 23.75 Neutral 0.717BROWN (N) GROUP 232 227 304.5 Neutral 0.487BURBERRY GROUP 1497 1092 1600 Neutral 1.364CARPETRIGHT 685.5 375 741 Neutral 1.030CLINTON CARDS 10.25 7.5 22.5 Sell 0.649DIXONS RETAIL 18.66 9.36 19.91 Neutral 1.458FINDEL 3.65 2.2 8.7 Neutral 0.965FRENCH CONNECTN.GROUP 48.25 36 111 Neutral 0.934HALFORDS GROUP 310.6 269.5 405.9 Neutral 0.641JJB SPORTS 10 5.2 31 Sell 0.871JD SPORTS FASHION 795.5 570 1030 Neutral 0.492KESA ELECTRICALS 70 60.2 151.4 Neutral 1.269KINGFISHER 306.7 217 312.7 Neutral 0.991MARKS & SPENCER GROUP 379 301.8 402.2 Neutral 0.743MOSS BROTHERS GROUP 46.5 25.5 48.25 Neutral 1.048MOTHERCARE 166 127.3 448.5 Neutral 0.549NEXT 2983 1980 3014 Neutral 0.795TED BAKER 818 633 830 Neutral 0.554TOPPS TILES 39.25 21.5 77 Neutral 1.336

Health

Stock Price 12M Lo 12M Hi ST Rec Beta

CONSORT MEDICAL 628 498 630 Neutral 0.395CORIN GROUP 41 36.5 59 Neutral 0.753SMITH & NEPHEW 633.5 521 715 Neutral 0.374

Household Goods & Textiles

Stock Price 12M Lo 12M Hi ST Rec BetaHARVARD INTL. 41.75 21.75 41.75 Sell 0.469GAMES WORKSHOP 570 370 577.5 Neutral 0.377HEADLAM GROUP 296 233.25 310 Neutral 0.926HORNBY 95 94.25 145 Neutral 0.651

Information Technology & Hardware


ARM HOLDINGS 592 464 645 Neutral 0.764CSR 229.9 154.1 391.4 Neutral 1.175FILTRONIC 31.75 14.5 35 Sell 0.645IMAGINATION TECHNOLOGIES 684.5 296.9 717 Neutral 0.969PSION 62.25 41 102.75 Neutral 1.195SPIRENT COMMUNICATIONS 160.5 105.8 160.5 Neutral 1.021WOLFSON MICROELECTRONICS 187.75 96 260 Neutral 1.061

Insurance

Stock Price 12M Lo 12M Hi ST Rec BetaADMIRAL GROUP 1187 787 1754 Neutral 0.538AMLIN 329.8 270.6 427 Neutral 0.472BEAZLEY 139.5 109.6 151.8 Neutral 0.521CATLIN GROUP 406.2 336 449 Neutral 0.314HISCOX 396.1 340.5 424.7 Neutral 0.501

JARDINE LLOYD THOMPSON 698.5 576 764.5 Neutral 0.327RSA INSURANCE GROUP 104.6 99.6 139.8 Buy 0.443NOVAE GROUP 360 285 385.25 Neutral 0.511


19/24



Leisure & Hotels

Stock Price 12M Lo 12M Hi ST Rec BetaCARNIVAL 1998 1742 2642 Neutral 1.073ENTERPRISE INNS 59 26.5 96.15 Neutral 1.735TUI TRAVEL 196.3 136.7 250 Neutral 0.966FULLER SMITH 'A' 715 596 752 Neutral 0.450GREENE KING 513 410 523.5 Neutral 0.867LADBROKES 160.1 114 161.8 Neutral 0.991ICTL.HTLS.GP. 1453 955 1497 Neutral 1.313MILLENNIUM & CPTH.HTLS. 480.5 371.2 540 Neutral 1.409MITCHELLS & BUTLERS 270.2 215.6 336.8 Neutral 1.036BWIN PARTY DIGITAL ENTM. 155 100.6 204 Neutral 1.296PUNCH TAVERNS 11.75 9.14 15.7 Neutral 1.299RANK GROUP 129.2 109.5 153.7 Neutral 0.976RESTAURANT GROUP 296.1 254.9 335 Neutral 0.870WETHERSPOON (JD) 411.4 380.5 468.3 Neutral 0.731WHITBREAD 1844 1409 1849 Neutral 1.045WILLIAM HILL 261.4 179.3 261.4 Neutral 0.946MARSTON'S 98.1 84.6 112 Neutral 1.249

Life Assurance

Stock Price 12M Lo 12M Hi ST Rec BetaAVIVA 331.5 275.3 452.7 Neutral 1.240CHESNARA 187 161.75 264 Neutral 0.585

LEGAL & GENERAL 130.7 89.8 135 Neutral 1.665OLD MUTUAL 158.6 98.05 164.6 Neutral 1.639PRUDENTIAL 747.5 509 797.5 Neutral 1.730ST.JAMES'S PLACE 353.1 294 376 Neutral 0.808

Media & Entertainment

Stock Price 12M Lo 12M Hi ST Rec BetaAEGIS GROUP 184.8 116.17 185.9 Sell 1.315BLOOMSBURY PBL. 109 91.25 138 Neutral 0.504BRITISH SKY BCAST.GROUP 676 618.5 850 Neutral 0.607CENTAUR MEDIA 38.75 32.5 56.25 Neutral 1.033DAILY MAIL 'A' 451.5 343.4 505.5 Neutral 1.091EUROMONEY INSTL.INVESTOR 760 522.5 809.5 Neutral 1.060INFORMA 441.5 313.9 450.8 Neutral 1.523

ITE GROUP 222 157.7 258 Neutral 1.401ITV 88.35 51.65 89.9 Neutral 1.515JOHNSTON PRESS 6.5 4.11 8.4 Neutral 1.466PEARSON 1165 1038 1255 Neutral 0.681PHOTO-ME INTL. 45.5 39.5 67 Neutral 0.836PINEWOOD SHEPPERTON 278.5 158 292 Sell 0.350THOMSON REUTERS 28.84 26.21 39.25 Neutral 0.510STV GROUP 118 76.25 168 Neutral 0.802ST.IVES 81.5 68.5 102.25 Neutral 1.445TRINITY MIRROR 37.5 35.25 54.25 Neutral 1.567UBM 626 416 635 Neutral 1.312WILMINGTON GROUP 98.25 78.5 154.75 Neutral 0.866WPP 854.5 578 880 Neutral 1.291YELL GROUP 3.74 3.35 11 Neutral 1.312

MiningStock Price 12M Lo 12M Hi ST Rec BetaANGLO AMERICAN 2337 2138.5 3344 Neutral 1.755ANGLO PACIFIC GROUP 314.5 237.9 340 Neutral 0.947ANTOFAGASTA 1152 900.5 1491 Neutral 1.390BHP BILLITON 1907.5 1667 2631.5 Neutral 1.412LONMIN 1022 941 1760 Neutral 1.915RANDGOLD RESOURCES 5370 4580 7565 Buy 0.307RIO TINTO 3446 2712.5 4595 Neutral 1.426UK COAL 16.5 16.5 47 Neutral 0.961VEDANTA RESOURCES 1228 928 2518 Neutral 2.099XSTRATA 1068 764 1550 Neutral 1.786


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Oil & Gas

Stock Price 12M Lo 12M Hi ST Rec BetaBG GROUP 1448 1144 1564.5 Neutral 0.707BP 462.55 363.2 504.6 Neutral 1.061CAIRN ENERGY 323.1 291.86 531.75 Neutral 1.348FORTUNE OIL 10.25 9 14.75 Neutral 0.849HUNTING 947.5 530 968 Neutral 1.331JKX OIL & GAS 160 120.5 328.6 Neutral 1.359MELROSE RESOURCES 123 95.25 297 Neutral 1.128PREMIER OIL 392.3 310 520.5 Neutral 1.362ROYAL DUTCH SHELL A(LON) 2183.5 1883.5 2402 Neutral 0.908ROYAL DUTCH SHELL B 2199.5 1890.5 2489 Neutral 0.919SOCO INTERNATIONAL 296 278 400 Neutral 0.507TULLOW OIL 1527 945.5 1601 Neutral 1.060WOOD GROUP (JOHN) 716.5 469.9 763.5 Neutral 1.344

Personal Care & Household Products

Stock Price 12M Lo 12M Hi ST Rec BetaMCBRIDE 123 108.75 151.06 Neutral 0.880PZ CUSSONS 299.7 285 387.9 Neutral 0.746RECKITT BENCKISER GROUP 3533 3100 3599 Neutral 0.341

Pharmaceuticals & Biotechnology

Stock Price 12M Lo 12M Hi ST Rec BetaARK THERAPEUTICS GP. 3.6 3.13 5.35 Buy 0.950ASTRAZENECA 2779 2543.5 3194 Neutral 0.445BTG 333.8 226 365 Neutral 0.717DECHRA PHARMACEUTICALS 489 433 579 Neutral 0.304GLAXOSMITHKLINE 1396.5 1189.5 1497 Neutral 0.477OXFORD BIOMEDICA 3.1 2.88 7.2 Buy 0.601PHYTOPHARM 7.52 6.4 9.5 Buy 0.917SHIRE 2020 1791 2300 Neutral 0.618SKYEPHARMA 39 31 66.13 Neutral 0.716VERNALIS 24.13 18.75 49 Neutral 0.818

Software & Computer Services


TIMEWEAVE 22.75 21.75 27 Neutral 0.721ANITE 129.75 57.75 129.75 Sell 0.835AVEVA GROUP 1657 1298 1799 Neutral 1.458COMPUTACENTER 441 324.7 490 Neutral 1.092KOFAX 306 225 535 Neutral 1.092INNOVATION GROUP 20 16 23 Neutral 0.903LOGICA 99.6 58.95 144.8 Neutral 1.369MICRO FOCUS INTL. 473 242.9 473 Neutral 0.736MISYS 358 214.9 420.2 Neutral 1.326PHOENIX IT GROUP 194.75 154.75 262.75 Neutral 0.878RM 77.5 41.5 156.63 Neutral 0.469FIDESSA GROUP 1655 1444 2109 Neutral 0.810SAGE GROUP 299.2 231.7 312.4 Neutral 0.642

Speciality & Other Finance

Stock Price 12M Lo 12M Hi ST Rec BetaABERDEEN ASSET MAN. 257 167.8 265.8 Neutral 1.089BREWIN DOLPHIN 177 113.7 177 Neutral 0.716CAMELLIA 9650 8800 10950 Neutral 0.860CHARLES STANLEY GROUP 295.5 240 350 Neutral 0.950CHARLES TAYLOR CNSL. 151.5 115.63 160.5 Neutral 0.715CLOSE BROTHERS GROUP 785 590 845 Neutral 0.823F&C ASSET MANAGEMENT 66.9 56.05 81.7 Neutral 0.924HELPHIRE GROUP 1.9 1.36 14.25 Neutral 0.671HENDERSON GROUP 127.5 95.05 173.1 Neutral 1.429ICAP 392.8 311.6 541.5 Neutral 1.080INTERMEDIATE CAPITAL GP. 289.5 197.9 345 Neutral 1.647INVESTEC 382.3 318.4 522 Neutral 1.558LONDON STOCK EX.GROUP 1034 756.5 1076 Neutral 1.169MAN GROUP 134.8 104.5 259.6 Neutral 1.267

RATHBONE BROTHERS 1275 977 1316 Neutral 0.754SCHRODERS 1580 1183 1906 Neutral 1.325SCHRODERS NV 1240 970 1554 Neutral 1.317


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Support Services

Stock Price 12M Lo 12M Hi ST Rec BetaACAL 215 166.25 344 Neutral 0.934AGGREKO 2250 1522 2316 Neutral 1.184AMEC 1108 740.5 1207 Neutral 1.029ASHTEAD GROUP 258.4 99.4 271.1 Neutral 1.500BABCOCK INTL. 796.5 570.5 800 Neutral 0.553BRITISH POLYTHENE INDS. 343.5 270 392.5 Neutral 0.716BUNZL 1004 676.5 1013 Neutral 0.558UK MAIL GROUP 245 192.25 318.5 Neutral 0.322CAPITA 732.5 611.5 767 Neutral 0.445COMMUNISIS 35 23.75 39.75 Neutral 0.748COMPASS GROUP 655.5 512.5 668 Neutral 0.736BERENDSEN 522 402.7 568 Neutral 1.038DE LA RUE 900 730 1001 Neutral #NADIGNITY 812 693 854.5 Neutral 0.211DIPLOMA 450 284 450 Sell 1.014ELECTROCOMP. 247.8 182.2 294.9 Neutral 1.025FILTRONA 475 296.3 475 Sell 1.130G4S 272.5 219.9 292.1 Neutral 0.598HAYS 84.35 58.85 119.6 Neutral 0.985HOMESERVE 233.5 214.7 532 Neutral 0.653INTERSERVE 291.3 252.75 341.25 Neutral 1.358INTERTEK GROUP 2511 1744 2526 Neutral 0.872JOHNSON SERVICE GROUP 30.5 25.25 36 Neutral 1.156

MANAGEMENT CNSL.GP. 39 27.75 45.5 Neutral 0.674MENZIES (JOHN) 600 445.5 614 Neutral 1.460MICHAEL PAGE INTL. 480 323 567 Neutral 1.365MITIE GROUP 279.5 196.1 288.3 Neutral 0.609MOUCHEL GROUP 9.25 4.75 93.75 Sell 0.916OFFICE2OFFICE 160.5 122 166.5 Neutral 0.384PAYPOINT 622 410 638 Neutral 0.746PREMIER FARNELL 214.6 144.5 301 Neutral 1.198REGUS 113.6 64 117.7 Neutral 1.420RENTOKIL INITIAL 85.35 58.2 100.9 Neutral 1.312REXAM 428.1 299.8 436 Neutral 0.882RICARDO 359.25 325 410 Neutral 0.819ROBERT WALTERS 245 158.25 326 Neutral 1.230RPC GROUP 368 281 393.2 Neutral 0.815RPS GROUP 237.1 156.6 253 Neutral 1.589

SERCO GROUP 542.5 458 597.5 Neutral 0.586SHANKS GROUP 98.75 90.8 130.9 Neutral 1.465SPEEDY HIRE 27.5 18.5 34 Neutral 1.312TRIBAL GROUP 76.25 36.75 79.75 Neutral 0.620TRIFAST 45 36.25 52.88 Neutral 0.883VP 252 191 258 Neutral 0.897WYG 53.5 47 956.25 Sell 0.765WSP GROUP 253.5 160 370.5 Neutral 0.963

Telecommunication Services

Stock Price 12M Lo 12M Hi ST Rec BetaBT GROUP 226.4 161 232.1 Neutral 0.926CABLE & WIRELESS COMMS. 32.29 31.25 48.92 Neutral 0.650INMARSAT 460.3 389.3 628.5 Neutral 0.530

KCOM GROUP 73.5 59.75 84 Neutral 1.260TELECOM PLUS 692 455 802 Neutral 0.036VODAFONE GROUP 172.2 155.05 182.7 Neutral 0.619

Transport

Stock Price 12M Lo 12M Hi ST Rec BetaBBA AVIATION 214 156 223.4 Neutral 1.403BRAEMAR SHIPPING SVS. 407.25 282 505 Neutral 0.949CLARKSON 1315 1015 1355 Neutral 0.818EASYJET 485.8 302.54 495.8 Neutral 0.776FIRST GROUP 237.7 237.7 370.2 Buy 1.080FISHER(JAMES)& SONS 596 440.5 605 Neutral 0.821GO-AHEAD GROUP 1246 1190 1598 Neutral 0.946NATIONAL EXPRESS 240.9 201.6 270.2 Neutral 1.300NORTHGATE 210.8 190.9 346.7 Neutral 1.375

STAGECOACH GROUP 255.3 215.9 287.4 Neutral 0.897WINCANTON 69.75 56 123.25 Neutral 0.842


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Utilities

Stock Price 12M Lo 12M Hi ST Rec BetaCENTRICA 316.4 278.8 333 Neutral 0.495NATIONAL GRID 630.5 569 659 Neutral 0.559PENNON GROUP 711.5 620 737.5 Neutral 0.606SEVERN TRENT 1544 1375 1610 Neutral 0.469UNITED UTILITIES GROUP 601.5 560 637 Neutral 0.580


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