Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Risk back on
Everyone does it
Joking apart
Briefing
i Robinson rejects scurrilous claims
Peter Robinson, former first minister of Northern
Ireland, has rejected scurrilous claims by a
loyalist blogger that he was to receive a payment
from a property portfolio sale that is being probed
by US and UK criminal investigators. PAGE 2
3 30% wiped off companys value since Monday 3 Successor to be chosen on Friday
Volkswagen
needs a fresh
start. I am
clearing the way
for this with my
resignation
PAGE 12
Martin
Winterkorn at
Volkswagens
annual meeting
in May
John MacDougall/
AFP/Getty
Volkswagen
250
Share price ()
200
Winterkorn
becomes chief
executive
150
100
50
0
200708 09 10 11 12 13 14 15
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Datawatch
Papal approval ratings
% of US public expressing positive
views
John Paul II (1987-96*)
Benedict XVI (2005-13*)
Pope Francis (2013-15*) 80
60
40
20
0
1987 90 96 05 07 08 13 14 15
Source: Pew research *Years covered by survey
FINANCIAL TIMES
NATIONAL
Northern Ireland
EU membership. Referendum
David Cameron
Harold Wilson
Rupert Hartley/Bloomberg
Keystone/Getty Images
PHILIP STEPHENS
FINANCIAL TIMES
The Bank of Englands internal watchdog has published nothing in its first
year of operation, raising questions
about the banks drive to become more
accountable to the public.
Established by Mark Carney, governor, to report on the banks performance to the board, the BoEs Independent Evaluation Office has helped the
bank redraft its annual report. But it has
done nothing visible to meet its mandate to build public trust in the bank
and to embed the institutions culture of
learning.
Jonathan Portes, director of the
National Institute of Economic and
Social Research said: The Independent
Evaluation Office has been established
for a year, but does as yet not appear to
be independent nor to be doing evaluations.
Fund, which publishes terms of reference for its investigations and often
embarrassing assessments of the funds
research and policy.
The IMFs version has gained a reputation for independence and straight
talking, which British economists are
yet to see at the BoE.
Mr Portes said: It would be too much
to ask the IEO to be as established as its
FINANCIAL TIMES
NATIONAL
Charities told
to reform their
fundraising
Bad press
Shake-up in
sector follows
summer of
criticism
over tactics
CONOR SULLIVAN
No pressure:
a fundraiser talks
to a potential donor
in London
Howard Sayer/Alamy
160,000
40bn
6.5bn
11bn
Estimated number of
charities in Britain
Nuclear reactors
Investors shun 24bn
Hinkley Point project
Delays and cost overruns that have
dogged two nuclear reactors being
constructed in France and Finland
have deterred investors from joining
a 24bn project to build a new plant
at Hinkley Point, Somerset.
French utility EDF is in advanced
talks with two Chinese partners
China General Nuclear Corporation
and China National Nuclear
Corporation over their final shares
of construction spending and roles in
the building of up to three new nuclear
FINANCIAL TIMES
NATIONAL
Savings tax
Party conference
Lib Dems
open to
coalition,
says Farron
50bn
15%
Tax forgone by
Treasury each
year to encourage
pension saving
Reduction in tax
take from move to
Isa-style system,
forecast by NAPF
It has been awarded to a city (Barcelona) and it has been awarded to artists.
It has been awarded to an archaeologist,
to architectural historians, editors, writers and engineers. But it has never been
awarded to a woman until now.
The Royal Institute of British Architects Gold Medal 2016 will go to Dame
Zaha Hadid, the most influential and
successful woman architect the world
has seen.
It is not quite true that she will be the
first woman on the podium, Charles and
Ray Eames and Michael and Patricia
Hopkins stood together to receive their
medals as partners in husband and wife
teams, but Dame Zaha will be the first to
receive the medal in her own right.
The Riba Gold Medal is the worlds
oldest and most established architecture prize. First awarded in 1848, the
award has been won by virtually every
major name from the past three centuries from Sir George Gilbert Scott to
Le Corbusier and Mies van der Rohe.
If there is anything surprising about
the Gold Medal going to Dame Zaha, it is
that it took so long. The designer behind
the London Olympics Aquatics Centre,
the Guangzhou Opera House, Glasgows
Riverside Museum and the football stadium planned to hold the final of the
2022 World Cup in Qatar has been
responsible for the most expressively
sculptural and astonishingly futuristic
architecture of the modern age.
Dame Zaha was born in Baghdad in
1950 but came to study at Londons
Architectural Association in 1972,
where her complex Russian Suprematist-influenced drawings immediately
attracted attention. She never compromised from those early, visionary plans
and that steely determination did not
always win her friends. I always
believed, she tells the FT that whatever research and work one does, however radical, it has to become part of the
mainstream, it has to be tested through
building and not remain on paper. Yet
despite the global influence of her
designs, she built only a handful of small
structures until her career exploded in
the late-1990s.
The architect has also been familiar
with severe setbacks. The rejection of
her competition-winning Cardiff Opera
House design in 1994 was a serious blow
Recognition:
Zaha Hadid,
right, is the
most successful
woman architect
the world has
seen, with works
including the
London
Olympics
Aquatics Centre,
above, and
Glasgows
Riverside
Museum, left
Irstone/Dreamstime;
Mary McCartney;
Jeff J Mitchell/Getty
As a
woman in
architecture
youre
always an
outsider. Its
OK, I like
being on the
edge
JOHN MCDERMOTT
Skills
Language challenge
FINANCIAL TIMES
FINANCIAL TIMES
INTERNATIONAL
Quota dispute
ECB
Draghi wary
over need for
further dose
of easing
120,000
Refugees to be
relocated across
the EU under the
plan
Number of
eastern European
states opposing
the move
California. Blights
to host the 2024 Olympics, and a successful bid could put his face on a popular project and push forward his vision
of a less car-addicted city.
The 2024 Olympics would absolutely help to accelerate the plans we
already have, Mr Garcetti told the
Financial Times at the China Climate
Leaders summit in LA, where he spoke
alongside Chinese mayors, US vicepresident Joe Biden and California governor Jerry Brown.
His plan would be to use the games to
push forward the deadline for the Wilshire subway line expansion one of
five underground or light rail projects
under way or in planning from 2032
to 2024, he said. Angelenos are asking
to get away from that I own a car and
drive by myself everywhere for everything kind of culture.
But his plans have hit speed bumps.
Transportation and housing have not
Obituary
Baseball legend
enriched the
game and the
lingua franca
Yogi Berra
Sportsman
1925-2015
People are
being
funnelled
into
homelessness faster
than
agencies
can find
housing
for them
Ryan Navales,
Midnight
Mission
Mario Draghi said that economic conditions had become more challenging over the summer, but that it was
too early to say whether the European
Central Bank should bolster its 1.1tn
quantitative easing programme.
The ECBs president admitted that the
central bank expected a weaker economic recovery and a slower increase in
inflation rates in the eurozone than it
had projected earlier this year.
But he added that it was too early to
judge whether the slower rise in inflation which he put down to a slowdown
in emerging markets, a stronger euro
and falling commodity prices would
be a temporary or lasting phenomenon.
We will therefore monitor closely all
relevant incoming information and its
impact on the outlook for price stability, he said in an appearance before the
committee on economic and monetary
affairs at the European Parliament in
Brussels.
Mr Draghis comments come a week
after the Federal Reserve decided
against raising US interest rates and
amid growing concerns over the health
of the Chinese economy where the manufacturing sector is having its worst
month since the depths of the global
financial crisis in early 2009, according
to preliminary data released yesterday.
There was better news for the eurozone where a poll of the eurozones purchasing managers showed the blocs
economy it has struggled since the
financial crisis slowed in September
but still recorded its best quarter in four
years.
Compiled by the data company
Markit, the index for the currency area
slipped from 54.3 in August to 53.9 in
September, but still stood well above the
50 level that marks an expansion in
activity. Markits survey, which is based
on the views of 5,000 purchasing managers around the eurozone, found
steady growth in the three months to
September. A pick-up in new work and
order backlogs suggested that growth
would continue in coming months, the
report added.
Following the Feds decision, some
European investors and banking analysts have suggested that a round of
competitive easing could be on the
cards and that further action by the ECB
will be announced in December.
However, Chris Williamson, chief
economist at Markit, said that it was
unlikely that the latest PMI figures
would give the ECB immediate grounds
for a further easing of monetary policy.
The ECB would no doubt like to see
more bang for their euros as far as stimulus from their QE programme is concerned, but its debatable whether these
numbers are weak enough to convince
the central bank to take more aggressive
action just yet, he said.
France remains a particular concern.
The PMI data signal 0.4 per cent growth
of the German economy in the third
quarter, but a mere 0.1 per cent expansion in France.
Other economists took a similar line.
Christoph Weil, an economist at Commerzbank, said that the eurozone
remained on a moderate growth path,
and that there was little evidence so
far that global demand weakness was
having much impact on industrialised
economies.
FINANCIAL TIMES
FINANCIAL TIMES
INTERNATIONAL
War zone: Syrian troops patrol in the southern town of Adra last year Louai Beshara/AFP
TU RKE Y
100km
Kurdistan
Regional
Government
Aleppo
Latakia
Tartus
IR AN
Palmyra
Damascus
SYRIA
Baghdad
Deraa Suwaida
I R AQ
J O RDAN
Isis areas of attack
Regime-held areas
Civil war
Iran will
not be led
by Russia if
this is what
they are
seeking
Regime insider
GLOBAL INSIGHT
MIDDLE EAST
John
Reed
Mistral carriers
Media rights
between the two countries were warming. Paris was due to deliver one of the
carriers last year and the second later
this year. But last year, Mr Hollande
halted the delivery following Russias
annexation of Crimea.
The episode proved embarrassing for
France which, in addition to reimbursing Moscow, was forced to pay millions
of euros each month to maintain the
vessels after backing out of the Moscow
deal.
The government has handled a difficult situation the best it could, by pre-
The Vladivostok, one of two helicopter carriers now bound for Egypt AFP
French financing. The jet, made by Dassault, had not won a single export contract in nearly three decades.
The deal is yet another sign that
Frances diplomatic push in the Middle
East, including the countrys tough
stance towards Tehran in the nuclear
talks and its efforts to revive the peace
process with Israel, has been helping its
commercial interests.
In spite of restrictions on reselling the
vessels, the Mistral deal may still raise
suspicions over whether the two ships
could end up being at the Russian militarys disposal.
Relations between Russia and Egypt
have been warming over the past two
years as Moscow courts the Sisi government seen as unsavoury by the US
to expand its footprint in the Middle
East.
In this context, the two countries are
stepping up their defence co-operation
and have been discussing massive new
arms supplies by Moscow.
Russian media reported yesterday
that Moscow was prepared to provide
Egypt with the Alligator helicopters
Russia developed specifically for the
two Mistral ships.
FINANCIAL TIMES
INTERNATIONAL
Factory survey
Poverty line
World Bank
set to swell
numbers of
global poor at
stroke of a pen
47
78
Flash reading
of Caixin general
manufacturing
PMI in September
Number of
months since
the Caixin index
hit such a low
Get-rich ventures
Indian real
estate groups
$1.1bn fine for
Ponzi scheme
AMY KAZMIN NEW DELHI
Trinity: Pope Francis is welcomed to the White House yesterday by President Barack Obama and Michelle Obama, first lady Win McNamee/Getty Images
As the son of an
immigrant family,
I am happy to be a
guest in this country
lican presidential nomination, who has
run an anti-immigrant campaign that
has depicted Mexicans as murderers
and rapists.
The Pope travelled from the airport to
the Vaticans diplomatic mission on
Tuesday night in a small Fiat 500L,
eschewing a large popemobile or
sport utility vehicle, further evidence of
the personal modesty and staunch envi-
Iran trade
Tehrans business ties with Beijing cool as companies wait for western sanctions to end
NAJMEH BOZORGMEHR TEHRAN
Analysts say once the curbs are abolished, Chinese companies in technologically sophisticated sectors, such as oil
and gas and aviation, will be eclipsed by
European rivals with better technology.
The perceived conduct of some Chinese companies has left a bitter taste in
Iran particularly in oil and gas after
they signed contracts but were accused
by Irans oil ministry of failing to deliver
or making sluggish progress.
Large Chinese investments in flagship
Iranian gas projects foundered after
Irans minimum investment commitments conflicted with the far lower
amount the Chinese were willing to put
in under the sanctions regime. In 2011,
the $4.7bn South Pars gasfield under
China National Petroleum Corp (CNPC)
and China National Offshore Oil Corporations $15bn North Pas gas project
were both suspended.
Meanwhile Tahmasb Mazaheri,
10
FINANCIAL TIMES
Mary Katrantzou
FASHION
Jo
Ellison
In a season of knock-out
shows and store openings,
many designers have seen
poor sales. What is behind
this very British problem?
JW Anderson
On the surface, this has been a great year
for British fashion. Christopher Kane,
Erdem, Simone Rocha and, at last, Hussein Chalayan, have opened bright,
shiny stores in the capital. British label
MarquesAlmeida scored the 300,000
bonus that came with the LVMH Young
Fashion Designer prize, a shot in the
arm for a nascent brand, while Jonathan
Saunders secured investment for his 11year-old label that should ensure
growth and productivity: his backer, the
32-year-old Indian businesswoman Eiesha Bharti Pasricha, who also invested
in Roksanda last year, has emerged as a
fashion fairy-godmother in the UK.
Why then, with so many outward
signs of success, does this appear to have
Erdem
been such a challenging year for so
many British labels? Speaking to buyers
and merchandisers between the shows
at London Fashion Week, many winced
when I asked about sales. It has been
tough, was a common response.
Itscertainlynotforwantoftalent.The
collections were as bold and beautiful a
bombast of ideas as youll see in any city
this season. Collections that grabbed the
eye and held the attention from first
look to last. Neither is it a problem of
infrastructure: the influence of Newgen,
the initiative established by the British
Fashion Council in 1993 to offer business
guidance and introductions to graduate
designers, has helped transform how
labels get to market and survive.
MarquesAlmeida
Analyst Luca Solca, head of luxury
goods at Exane BNP Paribas, offers a
diagnosis: The stronger pound is a factor. But the most important challenge
for newer brands is finding a balance
between commercial appeal and innovation. Its easier if youre very small;
not so easy as you get bigger.
In other words, success can bedevil a
label. The bigger it gets (and many London brands have celebrated their 10th
birthdays this year), the more stock it
needs and the bolder, more on-brand
and more broadly priced the merchandise must be. It demands you take a
more commercial and structured
approach to the market, which can
cause teething problems, says Solca.
Not all British brands are small
after all, Kering bought a majority share
in Christopher Kane in 2013 that has
catapulted the brand into a new league
of luxury alongside more established
labels such as Stella McCartney and
Alexander McQueen (also part of the
group). But their comparative youth
means that, as yet, they have no heritage to lean on. An established brand
such as Burberry can show a SS16 collection of simple black military tailoring,
macram lace and cream slip dresses
because it knows people will buy its
scarves. Novelty is less of an issue
(although the Burberry show was novel
for its calm sophistication, and a thrilling live performance by Alison Moyet).
British designers are celebrated for
their unique point of view: the very
Burberry Prorsum
essence of London Fashion Week is its
sense of edgy experimentation, its
eccentricity and wit. But this has created a strange paradox: sales here are
currently focused at the very top end of
the market. Buyers sweep up show
stand-outs such as the cosmologyinspired dresses that opened Mary Katrantzou (the designers dresses retail for
6,000-10,000 and sell out as soon as
they hit the sales floor) but they steer
Christopher Kane
he said, was that this one piece told the
story of the whole show. It also introduced a new idea fringing that Kane
has never worked with before. With this
dress, buyers were offered novelty, but
also brand signatures such as the slant
pockets, razor-sharp cut and roomy silhouette. More important, the dress also
unlocked the collections commercial
potential: Kanes fringing could now be
replicated on sweatshirts or skirts, be
sold at a mid-range price and still be on
point with the seasons vision.
But if the financial reality is depressing, lets rejoice instead in the brilliantly
bonkers or straightforwardly lovely
things we saw in London and loved:
cable-tie bracelets (Kane again); jelly
wire macram vests (Simone Rocha);
huge, voluminous, leg-o-mutton sleeves
scribbled with Keith Haring-style squiggles and space-age ribby knits (JW
Anderson, who also delivered my
favourite look of the week, a wonderfully chic black suit with statement
cuffs); Prairie Madness made exquisite
via lacy Victorian tiered dresses
(Erdem); punk ruffles and shredded
chiffon at MarquesAlmeida; and the
perfect colour palette at Paul Smith.
And for those of you in search of an
instant style update, I offer you this: go
buy a length of black grosgrain and tie it
in a bow about your person. OMG darling, youre sooooo spring/summer 16.
For reviews of all the shows mentioned here,
visit FT.com/fashionweeks
11
FINANCIAL TIMES
Vulnerable to change
he arithmetic is daunting.
To end extreme poverty
by 2030, the world needs to
help 7,500 people move up
the economic ladder every
hour for the next 15 years, according to
one calculation. Put another way, that is
181,729 people roughly the population
of Amarillo, Texas every day.
But that is exactly what world leaders
will commit to do at the UN tomorrow as
part of a three-day summit held under
the watchful eye of Pope Francis. The
gathering will put a formal seal on a plan
prosaically known as the global goals
for sustainable development to rescue
humanity. The 17 goals, ranging from
ending hunger to combating climate
change, are intended to update the
expiring Millennium Development
Goals agreed in 2000.
At the heart of the plan is a pledge to
eradicate extreme poverty currently measured as people living on less
than $1.25 a day within 15 years. But
that ambition, while laudable, looks virtually impossible to achieve.
World Bank economists question if it
can be met amid signs of slowing growth
in emerging markets, which has lifted
millions out of poverty and raised living
standards in recent years. The organisation is also about to reset its measure of
poverty to about $1.90 a day casting
millions more into the statistical
bracket, placing the target even further
out of reach.
The remarkable reduction in poverty
over the past 25 years and the new global middle class it has helped create has
been the economic story of our time.
But both the goal to finish the job and
the challenges it faces illustrate the
uncertainty that hangs over the next
chapter.
Latin America
and the Caribbean
East Asia
and Pacific
Sub-Saharan
Africa
37m
416m
Poverty headcount
2011, million people
(% of population in the region)
If the extreme poverty
measure changed from
less than $1.25 a day to less
than $1.92 the number of
poor people would be
293m
416m
Sub-Saharan Africa
(46.8%)
407m
South Asia
(25.0%)
293m
Europe and
Central Asia
South Asia
If the extreme poverty
measure changed from
less than $1.25 a day to less
than $1.92 the number of
poor people would be
407m
16
14
12
10
8
6
4
2
0
19912001
20012011
3% target
14
16
18
20
22
24
26
28
30
Swamis story
Indian nursery worker with
little chance of a better life
A security guard at a nursery in an
upmarket New Delhi neighbourhood,
Swami Prasad, 45, knows plenty about
surviving below the World Banks
official poverty line of $1.25 a day, or
about Rs82.
Mr Prasad, who migrated to Delhi
from a water-scarce region of Uttar
Pradesh, earns Rs6,000 per month,
working 9am to 6pm seven days a
week writing down the licence plate
numbers of every car that enters the
nursery premises. Even at twice the
$1.25 a day poverty line he is struggling
3m
Latin America
and the Caribbean
(6.3%)
Middle East and
north Africa (0.8%)
Europe and Central
Asia (1.1%)
37m
3m
3m
12
1,158m
3m
2010
Global total
using the 2011 PPP update they calculated a halving in the number of people
in the world living in extreme poverty
from 1.2bn to less than 600m.
Mr Basu argues that the banks latest
revision is designed to avoid such wide
swings in the global headcount but
admits that, if he had his time over, he
would have designed the measure differently.
No matter how it was chosen
. . . I want to hold it constant because
that is the yardstick over time, he says.
Vested interests
The moves have yielded new questions
about whether the bank is massaging
the numbers in its own interest.
Theres always been a credibility
problem around global poverty numbers and its not clear that things are
going to get better in the foreseeable
future, says Laurence Chandy, a fellow
at the Brookings Institution in Washington and member of the new Atkinson
commissions advisory panel.
Dr Kim has vowed to improve the
poverty statistics and especially the
paucity of data in the developing world.
But such discussions of arithmetic
obscure the bigger issue: too many people in the world remain stuck in poverty,
however you measure it. Ultimately
that is what world leaders want to
address but an already difficult task is
about to get even harder.
12
FINANCIAL TIMES
Letters
Turkey stands ready to help EU with crisis
A Muslim boy,
a cool clock, and
an American
dream
Notebook
by Roula Khalaf
VW scandal presents an
interesting opportunity
Sir, The allegations against Volkswagen
are indeed serious, and may explain
why real world fuel consumption
exceeds the official test estimates, and
also why Londons air quality is
stubbornly low. The first reaction is to
find somebody to blame, but there is
an interesting opportunity here.
My car (diesel, not a VW) can
display instantaneous fuel
consumption and distance to empty,
and thus knows how much fuel has
been added and how fast it is being
burnt. If this information (make,
model, fuel consumed, speed, outside
temperature, date, time, potentially
even location) was sent to a public
service big data warehouse and
published anonymously, and made
available to me for my own analysis, we
could all know what real world fuel
consumption actually is. The public
Email: letters.editor@ft.com or
Fax: +44 (0) 20 7873 5938
Include daytime telephone number and full address
Corrections: corrections@ft.com
13
FINANCIAL TIMES
Comment
Xi has to cede power to the plutocrats
ASIA
David
Pilling
The US is exactly the reverse. Compared with Mr Xi, who has few checks
on his power and who can expect seven
more years in charge, Barack Obama
looks like a spent force, despite his
recent active streak. He must answer to
a hostile Congress and has barely more
than a year left in office. Yet America is
resurgent. Its tech companies are on top
of the world; it has unearthed vast,
cheap energy resources at home; and its
economy is surging back from the selfinflicted financial crisis of 2008.
Mr Xi has chosen to meet those who
are leading the US revival. In Seattle,
where he will spend more time than in
Washington, he will rub shoulders with
Tim Cook, chief executive of Apple, Jeff
Bezos, head of Amazon, Warren Buffett,
a legendary investor beloved in China,
and Bill Gates, co-founder of Microsoft.
Their authority, unlike Mr Obamas, is
not circumscribed by term limits.
Although they have to abide by laws on
tax, labour and the environment, they
wield enormous influence over how
those rules are set; and they enjoy economic and social clout that goes well
beyond the reach of government.
Accompanying Mr Xi are prototypes
politically to prepare the way for economic liberalisation. It has not panned
out thus. Although he told his US hosts
he would press ahead with economic
reforms, in practice his instincts to control have trumped those to let the market decide. Little pressure has been put
on state-owned enterprises to sharpen
up. For every interest rate liberalisation
there has been a state edict, state intervention or a panicked dose of state
spending at the first sign of slowdown.
This is emerging as the central contradiction of Mr Xis presidency. A man
whose experience at provincial level in
China led him to understand the power
of the private sector is loath to let go. A
leader whose instincts tell him that
innovation and vigour in America are to
be found in Seattle and not Washington
is drawing yet more power to his office
in Beijing. Mr Xi has shown that he
knows how to wield political power.
What he has not yet done is to unleash
anything like the full potential of his
countrys private sector. His ability to do
so could determine how well Chinas
economy does for years to come.
david.pilling@ft.com
Volkswagens
deception is a
warning to all
BUSINESS
John
Gapper
Robert
Service
ECONOMICS
Chris
Giles
nies tend to focus on hitting the laboratory targets they are set, just as students
cram for examinations.
The gap between a well-designed test
and reality need not be huge. But bright
minds will soon work out how to arbitrage the two, just as banks calculated
how to meet regulatory capital standards with the minimum amount of
equity capital in the run-up to the 2008
crisis. Hyundai and Kia cherry-picked
the best mileage tests, achieved with a
following wind and special tyres.
Crowd psychology rapidly takes hold.
Company X knows what Company Y is
doing to game its results without being
punished by the regulator, and realises
it cannot compete if it does not do the
same. The tests are officially sanctioned, after all, and customers are not
likely to question them. Any executive
or engineer who tries to resist is overruled as naive or difficult.
Rivalry creates evermore ambitious
attempts to gain an advantage, and
greater reputational risk. VW contrived
to fit its rule-breaking gadget to 11m
cars under the noses of regulators
In cash we
trust abolish
it and you
invite tyranny
Estonia, Latvia and Lithuania have genuine cause for concern. In the longer
term, experience suggests Mr Putin will
prove a poor geostrategic thinker. He
has already damaged Russian economic
interests, which surely lie in securing
western assistance to build up the countrys ability to cope with competition
from China.
Mr Putins frequent diplomatic overtures for a Syrian settlement deserve
serious examination. But he shows no
sign of disengaging from Ukraine; and,
having loosed the dogs of nationalism,
he would find it hard to put them back
in the kennel, even if he wanted to.
This makes for a less predictable global
situation than the finely tuned balance
of power that prevailed during the
cold war.
In some ways we now live in even
more dangerous times. Sparks on distant borders can have unplanned and
explosive consequences.
The writer is author of the forthcoming
The End of the Cold War, 1985-1991
14
FINANCIAL TIMES
BUSINESS LIFE
Michael Skapinker
Businessandsociety
One
solution
is not
to try. But
humour is
an essential
social
lubricant
Measurable goals
The idea for starting the 30% Club
was born in 2009, when Helena
Morrissey, CEO of Newton
Investment Management, and
Baroness Mary Goudie, a Labour
peer, attended an event at
Goldman Sachs about achieving
a better gender balance among
senior executives.
The discussions there
highlighted that however hard
companies tried to increase
numbers of senior women, there
was little sign of a breakthrough.
The idea that a measurable goal
would help and with research
showing that 30 per cent
represented a proportion at which
critical mass is reached led to
the establishment of the 30% Club.
Its initial focus was on corporate
boards, especially the chairmen
since they had power to push
change through. Sir Roger Carr,
then of Centrica, and Sir Win
Bischoff, then at Lloyds Bank,
immediately pledged their support,
having experienced at first hand
the challenges of putting together
a more diverse board.
The goal was to help achieve 30
per cent women on FTSE 100
boards by the end of 2015 the
figure is now 25.4 per cent. It has
spawned associated clubs around
the globe.
Brenda
Trenowden:
companies could
make sure
women are
not unfairly
impeded by
being more
open about the
challenges
Charlie Bibby
Theres still a
lot of sexism
but people
dont do it
as openly.
It still hasnt
changed
enough at
the top
sign up to the club, the steering committee meets every three months and the
club has working groups focusing on
investors, international and crosscompany mentoring and career strategy
on issues such as investors.
Most, like Ms Trenowden, have fingers in other pies. She has just stepped
down from chairing the City Women
Network, which was set up in the late
1970s when the members had to meet
in private above a pub because you
couldnt have a womens network
back then.
She was shocked by how openly sexist the working environment was when
she first arrived in the City. Everyone
got in at quarter to seven, the Gitanes
[cigarettes] came out and you just lived
in a fog. Even when I was pregnant
people smoked cigars in my face, it was
normal. I couldnt comment on some of
the things that went on, but that was all
condoned as normal business, whether
it was the drinking or the strip clubs
and escorts.
Nevertheless, she loved her time in
the City. How much has changed since
then? I think, now, theres still a lot of
sexism but people dont do it as openly.
It still hasnt changed enough at the
The review
The riff
A sideline in bitcoin-mining
IZABELLA KAMINSKA
Dreamstime
15
FINANCIAL TIMES
ARTS
Pleasingly wooden
performance
THEATRE
aaaee
Ian Shuttleworth
Ian Kelly is a sickeningly versatile
chap. As an actor, he appeared in the
West End andonBroadwayinThe Pitmen
Painters; as a historian, his biography of
Casanova won the Sunday Times biography of the year award; as a co-writer, his
work on Vivienne Westwoods memoir
has enjoyed a less smooth ride. Now he
hasadaptedhis2012booksubtitledComedy, Tragedy and Murder in Georgian London for the stage, and appears in Richard
EyresproductionasPrinceGeorge.
Kelly focuses on the one-legged transvestite comedian (!) Samuel Foote,
whom he portrays as a frenemy of
David Garrick, running comedies at the
Haymarket Theatre in rivalry with Garricks Shakespeares at Drury Lane.
When Foote has a leg amputated after a
riding accident resulting from a frivolous
bet, his career continues but he grows
more bitter and less restrained, particularly regarding his sexuality, which
proveshisdownfall.
Kellys dramatisation is largely faithful
to historical record, although he takes
some liberties by folding in
characters such as Benjamin Franklin
in order to incorporate more of the
material that fascinates him. And what
fascinates him is virtually everything
to do with the 18th century and/or
the theatre. We touch on political
history, theories of electrical fluid powering the human brain, race, homosexuality and the culture of celebrity embodied at the time in theatre, as well as a
massofanecdotage.
If anyone could keep all these plates
spinning onstage at once, it is Simon
Russell Beale. He almost succeeds as
Foote, particularly during the plump
DA N C E
Barbarians
Hofesh Shechter Company, Sadlers Wells
London
aaeee
Louise Levene
puckishness of the first act, before subsiding into his trademark astringent selfawareness, clumping around on a
wooden leg in a variety of frocks with
built-in embonpoint. Joseph Millson as
Garrick and Dervla Kirwan as the Irishborn actress Peg Woffington head a likewiseassiduoussupportingcast.
However, I couldnt shake the suspicion that I was being fascinated because I
was already predisposed towards the
subject and that others might find it hermetic; the second act appeared to bear
thisout,inthatthedeeperandmoreserious the material grows, the less compelling and more impenetrable it becomes.
Like its subject, it stands firmly on one
sideonly.
To October 17, hampsteadtheatre.com
aaaae
Mike Hobart
Nobby Clark
Dawid Laskowski
JA Z Z
beats. At their best, the quartet delivered strong moods, rhythmic cohesion
and surreal contrasts. Allens bop-gun
blasts of wind synth came with echoing
bass drum asides, high-energy improv
was driven by drummer Avreeayl Ras
venomous cymbal play and lilting synth
melodies were accompanied by rampaging concert grand and hints of Latin
and funk.
Most of it worked, sometimes brilliantly. But in the lengthy first set
opener, the musicians whizzed from pillar to post as though finding their way.
Thereafter, though, things settled, and
the first half was rounded off by a
sequence of beatific duets led off by
Allens somnolent thrums on kora.
Pianist Ka introduced the second half,
strolling through the audience banging
her Siberian shaman drum. But, cued by
Allen, she returned to the atonal clusters and harp-like shimmers that are
her stock in trade. Indeed, it was Allen
who gave the evening much of its focus
and it was his oblique interjections, as
well as the spangly outfits, that added a
touch of Sun Ra surrealism to the mix.
That this was something more than a
stripped-down version of the Arkestra
BBC 1
BBC 2
ITV London
Channel 4
Other channels
BBC3
7.00 Top Gear. 8.00 Dont Tell
the Bride. 9.00 Being Human.
10.00 EastEnders. 10.30 Russell
Howards Good News Extra. 11.15
Family Guy. 11.40 Family Guy.
BBC4
7.00 World News Today. 7.25
Weather. 7.30 Great Continental
Railway Journeys. 8.00 Ian
Hislops Age of the Do-Gooders.
9.00 The Secret Rules of Modern
Living: Algorithms. 10.00 Horizon:
The Creative Brain How
Insight Works. 11.00 Detectorists.
11.30 Detectorists.
Channel 5
6.00 Home and Away. 6.30
5 News Tonight. 7.00
Underground Britain. 8.00
Dogs Make You Laugh Out
Loud 2. 9.00 Celebrity Big
Brother: Live Final. 10.45
Celebrity Big Brothers Bit on
the Side.
Film4
7.10 Just Married. 9.00 GI Joe:
Retaliation. 11.10 Fracture.
Sky Atlantic
6.00 House. 7.00 Without a
Trace. 8.00 Blue Bloods. 9.00
Million Dollar Baby. 11.40 Ray
Donovan.
Sky 1
6.00 Futurama. 6.30 The
Simpsons. 7.00 The Simpsons.
7.30 The Simpsons. 8.00 Modern
Family. 8.30 Modern Family. 9.00
Mr Woodcock. 10.45 NCIS: Los
Angeles. 11.45 Hawaii Five-0.
More4
6.50 A Place in the Sun: Home
or Away. 7.55 Grand Designs.
9.00 Titchmarsh on Capability
Brown. 10.00 Charlie Hebdo:
Three Days That Shook Paris.
11.20 24 Hours in A&E.
Sky Sports 1
6.00 Barclays Premier
League World. 6.30 Capital
One Cup Goals. 7.30 FL72
Live. 10.00 Barclays Premier
League World. 10.30 NFL:
Dwight Freeney Interview.
Sky Arts
6.45 British Legends of Stage
and Screen. 7.45 Hollywood:
Singing and Dancing. 9.00
Brilliantman! 9.25 Neighbors.
9.50 The High Sign. 10.15 We
Remember Marilyn.
FINANCIAL TIMES
16
Total eclipse
Dividends
Share repurchases, net
Capital expenditure, net
Cash from operations
$bn
35
Twitter: @FTLex Email: lex@ft.com
30
25
Volkswagen:
after the fines
A preferred share in Volkswagen Group
bought yesterday morning was 12 per
cent up by the close. The worlds
second-largest carmaker by sales will
soon have a new chief at the wheel.
Shares are still down more than a
quarter since the diesel emission crisis
began. Time to buy?
The answer depends on whether the
drop in the companys value up until
now 22bn in three days is
enough, or too much. The maximum
US fine of $18bn is an eye-watering
number. And other risks loom:
potential fines on the 10.5m diesels
outside the US, recall costs, lawsuits,
changes to emissions tests, new
regulations, brand impact and
the additional costs to produce cars
that do comply. Few of these will be
known any time soon.
Still, a rough comparison of the lost
market value to the likely costs of the
scandal is illuminating. An $18bn US
fine plus another, say, 7bn in fines,
lawsuits and recall costs (front loaded,
but spread over five years) has a
discounted present value of 22bn. So
the drop in the shares reflects this
worst case scenario already if VWs
operational profits are unaffected.
But that is unlikely. The company
(and the industry) is likely to see
profits squeezed. Tighter, more realworld emissions testing regimes are
almost inevitable, making targets even
stricter. A half a percentage point
change to VWs operating margin,
which now stands at 6.1 per cent,
would take 1bn out of profits and a
relatively modest decline in the
number of units shipped if it came in
the wrong place could have such an
effect on profitability.
So the hit to operations, not just
regulatory payouts, could hurt. The
threat, however, is not existential
by any stretch of the imagination. In
2020 people will still be buying cars:
different models, with cleaner engines
and at different prices. Prior scandals
think airbags, ignition switch faults,
sticky accelerators have blown over
eventually. This one will too.
Whether VW can thrive after the
scandal has blown over is a matter of
whether VW can build a car that meets
tougher emissions standards, at a price
that customers will pay, at a decent
20
15
10
Weatherford:
long days journey
5
0
-5
1999 2000
01
02
03
04
BHP Billiton:
listing badly
Imagine an industry that is not only
cyclical but is highly dependent on a
single customer that is undergoing a
massive, one-time, demand-boosting
transformation. What would be the
worst capital allocation decision that
industry could make? One solid
candidate: committing to cash payouts
that will only ever increase.
At any rate, that is the policy
Australias leading iron ore miners have
chosen. On Tuesday, BHP Billiton said
1010
13
16
25
HIGH
28
14
18
19
17
16
1020
19
18
15
15
HIGH
14
1020
27
15
15
14
21
1
13
LOW
16
HIGH
23
27
16
22
28
24
31
20
27
8
Wind speeds in
30
PH
Todays temperatures
Abu Dhabi
Amsterdam
Athens
Bham
Bangkok
Barcelona
Beijing
Belfast
Sun
Rain
Sun
Fair
Thunder
Sun
Shower
Shower
38 100 Belgrade
Thunder 28
16
61 Berlin
Sun
19
27
81 Brussels
Rain
17
16
61 Budapest
Thunder 27
34 93 Buenos Aires Cloudy
17
24
75 Cardiff
Fair
16
26 79 Chicago
Fair
25
12 54 Cologne
Cloudy
18
82
66
63
81
63
61
77
64
Copenhagen
Delhi
Dubai
Dublin
Edinburgh
Frankfurt
Geneva
Glasgow
CROSSWORD
JOTTER PAD
Fair
Sun
Sun
Fair
Shower
Fair
Sun
Shower
16
34
37
14
14
19
18
13
61
93
99
57
57
66
64
55
06
07
08
09
10
11
12
13
14
Forecasts by
1000
05
Hamburg
Helsinki
Hong Kong
Istanbul
Jersey
Lisbon
London
Los Angeles
Cloudy
Shower
Sun
Shower
Drizzle
Sun
Drizzle
Sun
ACROSS
9 A racing rogue with posh
amateur in country (9)
10 Caribbean salesman backed car
feature (5)
11 Chap keeping recipe with note
about fondue ingredient? (7)
12 Milk? Show it around entrance to
larder (7)
13 Place to drive, were told, for
meal (3)
14 I slim, rejecting noon pub meal
thats cooked? Unlikely (11)
17 Elegance in set of steps reported
(5)
18 Switch symbol of office (3)
19 One vows to enter this college
cricket side (5)
21 Allow facial expression (11)
23 Barring outsiders, put on
childrens game (3)
25 Paupers only presumably touring
western city (7)
27 Depart with foreign money
inside two days, unexpectedly
welcome event (7)
28 Follow closely temperature
before marathon, say (5)
29 Noticeable virus to be analysed
(9)
DOWN
1 One with honour spoke of dark
period (6)
2 A Conservative ministers office
showing precision (8)
3 Outstanding change of temper in
men losing money (3-7)
17
18
33
26
16
28
18
31
63
64
91
79
61
82
64
88
Luxembourg
Lyon
Madrid
Manchester
Miami
Milan
Montreal
Moscow
Mumbai
Munich
New York
Nice
Paris
Prague
Reykjavik
Rio
Rome
San Francisco
Stockholm
Strasbourg
Sydney
Tokyo
Toronto
Vancouver
Vienna
Warsaw
Washington
Zurich
Fair
Sun
Sun
Shower
Thunder
Fair
Sun
Fair
Fair
Cloudy
Fair
Sun
Cloudy
Fair
Sun
Sun
Shower
Sun
Shower
Fair
Rain
Cloudy
Fair
Rain
Drizzle
Sun
Fair
Fair
16
19
28
15
30
20
20
25
31
14
26
24
17
15
10
38
21
26
15
19
15
24
22
17
16
22
26
16
61
66
82
59
86
68
68
77
88
57
79
75
63
59
50
100
70
79
59
66
59
75
72
63
61
72
79
61
JOTTER PAD
ACROSS
1 Important Viking one among best
friends (5,4)
6 Socialite with appeal makes leftside entry (5)
9 Brazilian city as far as were
concerned ungovernable (7)
10 Obscure English knight against
European rebuffed (7)
11 Poor nations little island in hot
current (5)
12 Caught flamboyant cardinal in
Seventh Heaven? (5,4)
14 Notice flock encircles houses (3)
15 Alarmist financier reversed into
second vehicle bearing right (11)
17 German poets the writer
embracing pub vocalist (11)
19 Moggy fur with hole concealed? (3
20 Earl, King and Queen on
Hampshire rivers banks (9)
22 Ambassador in temple finds grain
(5)
24 Ardent Green must change leader
(7)
26 As ones despicably mean, small
tips for servants materialise (2,5)
27 Sauce unfortunately knocked over
contains sulphur (5)
28 Related martial artist stops at
Bedouin residence (9)
3 , 7 & + (
5
5
(
0 , 1 ( 1 7 /
'
1
8
7 (
& 8 3 ,
+
1 6 7 $ 1 & (
7
1
$
, $
7 $ 5 1
1
1
, ' ( 6 : , 3
5
1
9
7 (
$ / 2 )
:
,
5
6 2 / 9 ( 1
5
,
<
$
'
+
%
(
$
7
,
7
Covestro:
nice, and nicer
Bayer likes to take its time. Its shift to
life sciences from commodity
chemicals has been under way since
around 2001. The carveout of Covestro,
its materials science business, was
announced a year ago; it will start
trading on October 2.
The time taken appears to have been
worth it. Covestro has been carefully
designed to make it more interesting to
investors than a standard bulk
chemicals business. True, margins
before interest, taxation, depreciation
and amortisation in two out of its three
main divisions are below 10 per cent.
But the company thinks sales can grow
faster than the economy generally
because of product substitution such as
using polycarbonates instead of acrylic.
And the adhesives and coatings
business a third of ebitda has
juicier margins.
Capital expenditure has peaked for
now; through until the end of 2017,
three-fifths of capex will be on
maintenance rather than expansion.
Net debt (excluding pension liabilities)
is likely to be about 2.6bn, more than
two times 2014 ebitda. So Covestros
target of paying out 30-50 per cent of
net profit as dividend looks achievable.
At the midpoint of the pricing range,
the company would have an enterprise
value of 9.4bn or just over six times
forecast 2016 ebitda. That sits roughly
between the ratings of rivals like
compatriot BASF and US-listed
Huntsman. The key fundamental risk
is slowing economic growth.
Technically, it is also likely that Bayer
will sell down its stake once the sixmonth lock-up period ends, putting the
shares under pressure.
There is a precedent here. In 2005,
Bayer spun out Lanxess, a speciality
chemicals business, to its shareholders.
At listing, Lanxess had a market value
of 1.15bn it is now 4.2bn and there
have been almost 500m of dividends
along the way. Nice but not as nice as
the near-fivefold gain in Bayers shares.
If history is any guide, investors will
do fine out of Covestro, but better still
out of Bayer.
Lex on the web
For notes on todays breaking
stories go to www.ft.com/lex
17
Volkswagen
BHP Billiton
Panasonic
Xetra Dax
Euro/dollar
Australian
dollar
Brent oil
Shanghai
Composite
5.19%
111.50
4.44 %
A$22.80
2.14%
Y1,326.5
0.4%
9612.62
0.6%
$1.1182
1.4%
US$0.6990
2.7%
$47.75
2.2%
3116.71
With too
much risk
aversion,
legitimate
business
might not
be pursued,
damaging
the bank
and clients
Landmark deal
BBA to pay $2bn for
aircraft services rival
BBA Aviation, the aircraft services
business, is planning to double in size by
acquiring competitor Landmark
Aviation from Carlyle, the private equity
group, for $2.06bn, write Daniel
Dombey and Katie Martin.
The company said it intended to
finance the deal, which is equivalent in
value to BBAs 1.3bn market
capitalisation, partly through a 748bn
rights issue and partly by taking on $1bn
in new debt.
At the heart of the transaction are the
two companies business jet terminals
known as fixed-base operators
which will account for 80 per cent of the
value of the combined group. Together,
the companies would become the
biggest participant in the sector and
bolster their positions in the US.
Simon Pryce, BBA chief executive,
said the corporate jet sector was likely to
grow 3 per cent to 4 per cent a year. For
a certain type of user who has a certain
economic value of time, it really is the
only way to do point-to-point travelling
in North America, particularly as
[traditional] airlines continue to operate
on hub and spokes, he said.
The deal is expected to be completed
early next year.
1
0
2004
Total has pledged to preserve its dividend payouts while announcing spending cuts amounting to billions of dollars
and project delays to combat what the
French energy group warned would be
a prolonged slump in oil prices.
Patrick Pouyann, chief executive, told
investors and analysts that spending on
oil and gas projects would be reduced as
much as 15 per cent next year to
$20bn-$21bn, and by $3bn in 2017.
The cuts are the most aggressive yet
by a big energy group, taking investment levels 30-40 per cent lower than a
peak in 2013. They reflect industry pessimism over the oil price outlook.
Starting dates for three projects
10
Source: Bloomberg
Companies
Admin Re.....................................................22
Air Liquide...................................................18
Alibaba....................................................18,23
Allianz.............................................................19
Amazon........................................................20
Anheuser-Busch InBev........................23
Apple..............................................................22
Aquatic Foods...........................................23
Axel Springer.............................................18
BASF ..............................................................16
BBA Aviation........................................17,22
BBVA...............................................................18
BHP Billiton...........................................16,18
BMW...........................................................21,31
BT......................................................................12
Bahana Securities..................................20
Baidu...............................................................18
Baker Hughes............................................16
Barclays.........................................................19
Bayer..........................................................16,18
British Airways..........................................14
Bruno Witvoet..........................................20
Bumi Resources.......................................20
Camkids........................................................23
Carlyle.............................................................17
Caterpillar.....................................................31
Centrica.........................................................14
China National Nuclear Corp.............3
China National Offshore Oil Corp...9
China National Petroleum Corp.......9
Cinven............................................................22
Bruno Vincent
James
Mackintosh
Price to book
Lombard page 22
Short
View
JQW.................................................................23
Jaguar Land Rover.................................21
Janus Capital.............................................19
Jiasen.............................................................23
Jimmy Choo................................................31
Johnson Matthey.....................................31
Kellogg..........................................................20
Kia.....................................................................13
Lanxess.........................................................16
Landmark Aviation.................................17
Las Vegas Sands.....................................31
Lidl ..................................................................18
Lloyds Bank................................................14
London Stock Exchange....................23
Lyft...................................................................18
MGM Resorts.............................................31
Marks and Spencer................................18
Melco Crown Entertainment.............31
Mercedes-Benz.........................................21
Michelin.........................................................18
MoneySwap................................................23
Moodys.........................................................22
Multipro........................................................20
Naibu Global ............................................23
Nestl............................................................20
Newton Investment Mgmt................14
Nikken Sekkei..............................................4
On the Beach............................................22
Openreac......................................................12
Peugeot.........................................................21
Philip Morris..............................................20
Phoenix.........................................................22
Pimco..............................................................19
PwC ................................................................17
RSA...........................................................22,23
RSA Insurance...........................................31
Rolls-Royce..................................................31
Royal Bank of Scotland.................17,23
SABMiller.....................................................23
Sampoerna.................................................20
Santander.....................................................18
Shepherd Neame....................................22
Smiths Detection....................................23
Smiths Group............................................23
Sodexo...........................................................18
Sorbic International...............................23
Swiss Re.......................................................22
Takata.............................................................21
Tencent..........................................................18
Thomas Cook............................................22
Tolaram.........................................................20
Total......................................................16,17,18
Toyota.............................................................21
Tui Travel.....................................................22
UBS..............................................................17,19
UBS .................................................................12
Uber.................................................................18
Unilever........................................................20
United Technologies..............................31
Vertu...............................................................22
Visa ................................................................18
Vmoto............................................................23
Volkswagen............................12,13,16,21,31
Volvo...............................................................21
WPP.................................................................18
Weatherford International.................16
Weil, Gotshal & Manges......................18
Wynn Resorts.............................................31
Zurich Insurance..........................22,23,31
Sectors
Automobiles..........................................13,18
Banks...............................................12,17,18,19
Financial Services....................................18
Financials................................................18,19
Food & Beverage...................................20
Industrial Goods......................................18
Industrials.......................................18,20,23
Insurance...............................................22,23
Media..............................................................18
Mining.......................................................16,18
Oil & Gas.................................................16,18
Pharmaceuticals.......................................16
Retail...............................................................18
Retail & Consumer.................................18
Support Services.....................................18
Technology...........................................18,20
Telecoms.......................................................12
People
Week 39
james.mackintosh@ft.com
15
China is trying to
boost consumption
and services.
The switch hits
suppliers to its
heavy industry in
emerging markets,
where prices have
been marked down
aggressively: the
MSCI EM index is at
1.3 times book
18
FINANCIAL TIMES
COMPANIES
INSIDE BUSINESS
Technology
Uber is
locked in
competition
with Didi
Kuaidi, its
Chinese rival
Santander aims
to lower its
cost/income
ratio under
plans unveiled
by chief
executive Ana
Botn (below)
Susana
Gonzalez/Bloomberg
EUROPE
Sarah
Gordon
Brave boardroom
hearts should make
the case for migrants
Media
Mining
ROBERT COOKSON
19
FINANCIAL TIMES
COMPANIES
$bn
5
0
-5
-10
-15
-20
-25
-30
-35
Sep
Oct
2014
Nov
Dec
Jan
Feb
Mar
Apr May
2015
Jun
Janus Global
Unconstrained Bond Fund
$79.1m
Sep 2014
Jul
Aug
PimCo Total
Return Fund
$201.6bn $98.1bn
Sep 2014
Aug 2015
$1.4bn
Aug 2015
Bill Gross
Photo: Reuters
Strategy
review
Successor
warns on
potential
job losses
Andrew
Hill
Sergio Ermotti, chief executive of UBS,
has said what many in financial
services have long thought needs to be
said. Risk-taking and mistake-making
are acceptable. Try to eliminate all
risk-taking, and threaten to punish all
mistakes and the ensuing culture of
fear I find the German translation,
Angstkultur, even more evocative will
limit the pursuit of legitimate business.
He is right. But there are some
important caveats, some of which
Mr Ermotti added to his address to
the banks senior executives. One is
that the mistakes should be honest.
Another is that the organisations
culture should be strong enough to
prevent any doubt in the minds of
employees about what constitutes
an honest mistake.
Unfortunately, mistake remains
a popular euphemism among bank
bosses for some very grave errors
of judgment and failures of risk
management, implying that even
some intentional unethical acts are
accidental. Another problem is that the
extent and durability of improvements
in corporate culture are extremely
hard to assess and measure.
When Antony Jenkins took over as
Barclays chief executive in 2012, he
admitted the bank had made serious
mistakes which was one way of
describing the hundreds of millions
of pounds levied by regulators on
Barclays and others for manipulating
interest rates. He vowed those
mistakes would not be repeated.
Positions Available
FT APPOINTMENTS
.....................................................................................................................................................................................................................................................................................................................................................................................................................
Classified Appointments Advertising
UK: +44 20 7873 4909
US: +1 212 641 4909
ASIA: +852 2905 5528
Bill Grosss
Janus fund
has grown to
only $1.4bn,
and about
half of that is
his own
money
20
FINANCIAL TIMES
COMPANIES
Technology
Technology
Facebook
announces
360 video
as way into
virtual reality
agencies is, furthermore, an interference with the right to respect for private
life and the right to protection of personal data, Mr Bot argued, adding that
such mass, indiscriminate surveillance is contrary to fundamental rights
of EU citizens.
Yesterdays opinion is not binding
but, in a majority of cases, the court concurs with the advocate-general.
The commission is renegotiating the
safe harbour agreement but this opinion
is likely to complicate the talks. Commission officials have argued in the past
that any negative view from the ECJ
could be brushed off because the revised
safe harbour agreement would include
more safeguards.
Pricing will be
key for Kelloggs
in a country
where a $5.50
box of breakfast
cereal compares
with a $90
monthly wage
for some state
workers
Pius Utomi Ekpei/AFP/Getty
FT BUSINESS EDUCATION
Every Monday
.................................................................................................................................................................................................................................................
Classified Business Education Advertising
UK: +44 20 7873 4906
US: +1 212 641 6500
ASIA: +852 2905 5554
$450m
Size of the joint
venture between
Kelloggs and
Tolaram Group
27%
Percentage of
households likely
to have an annual
income of more than
$5,000 by 2020
Financials
Rp22.6tn
Rp500m
Estimated share
sales required if
listed companies
are to meet rules
21
FINANCIAL TIMES
VOLKSWAGEN SCANDAL
Testing times
What they
said
There is no
evidence
that this is
an industrywide issue
European
manufacturers
bodyAcea
Growing divergence:
CO 2 lab tests vs real world
Hyundai
Mazda
Renault
Volvo
Citron
Mercedes
Benz
160
140
EU weighted-average
lab test results
0.2
BMW
0
Current
EU test
0.4
180
0.8
0.6
Audi Opel
120
0
2
6
8
10
Tougher test to be introduced by 2017
12
14
2001 03 05 07 09 11 13
Vehicle build year
Q&A
Berlin
muscling in
helped to
slow down
reforms
More on ft.com
Lexs Robert
Armstrong and
Rochelle
Toplensky
discuss whether
the share price
yet reflects the
likely impact of
VWs cheating
ft.com/video
Theres no
smoking
gun here,
but there is
anecdotal
evidence.
We cant
rule out
with any
certainty
that
another
carmaker
wont be
implicated
in this
Stuart Pearson,
analyst at Exane
BNP Paribas
In the end the pressure on Martin Winterkorn became simply too great to
bear. Following a marathon meeting of
senior directors at Volkswagens headquarters in Wolfsburg yesterday, he
offered his resignation as VW chief
executive.
With Europes largest carmaker by
sales engulfed in a scandal after a US
regulator revealed last Friday that VW
had installed software in diesel cars that
facilitated cheating in emissions tests,
Mr Winterkorn said he would take
responsibility for the crisis.
The 68-year-old, who until this
month had led VW to considerable success since 2007, said he did not consider
himself personally at fault, but
explained that his resignation would
pave the way for a fresh start at the
group.
He added: With my resignation, I am
making the way clear . . . VW was and
remains my life . . . I am convinced that
VW and its team will overcome this difficult crisis.
VW directors did not immediately say
will be very hard to fill. During his leadership, VW greatly expanded its portfolio of brands and challenged rivals Toyota and General Motors for the crown of
worlds biggest carmaker by sales. Much
of that great work has been undone by
the scandal, however. He leaves behind
a weakened, isolated company that
faces months of bruising encounters
with regulators and other investigators.
The affair is likely to be a huge distraction for management who have other
big problems to worry out too, including
an economic slowdown in China, VWs
largest market. VWs efforts to increase
its limited sales in the US, one of the
worlds most important car markets,
were struggling before the emissions
scandal and are now likely to be further
undermined.
VWs cash pile previously projected
to reach about 30bn by year-end is
expected to be impaired by the scandal.
So far the group has made a 6.5bn provision for the affair, but some analysts
say the figure could rise significantly.
Above all, VWs new chief
executive must strive to
regain the confidence of
car buyers who previously credited the company with perceived virtues
like reliability, trustworthiness
and engineering excellence.
.........................................................................................................................................................................................................................................................................
22
FINANCIAL TIMES
UK COMPANIES
Briefs
BBAs Prycey deal elevates leverage and could leave investors in a flap
No intention to flop
There is a problem with announcing
your plan to float, as would-be market
members have traditionally done. If
investors give you the raspberry, you
have to pull the deal publicly, which is
embarrassing.
On the Beach, an online travel agent,
is one of a new breed of stealth
debutantes. It has just floated at a
valuation of 240m, contenting itself
with a pricing announcement
yesterday morning.
Turing test
Whats in a name? A good deal, if the
name is that of Alan Turing. His
wartime code breaking helped defeat
Nazism. According to Forbes, US drugs
entrepreneur Martin Shkreli called his
company Turing Pharmaceuticals
after reading about the computing
pioneer and deciding he was, yknow,
a cool guy.
Mr Shkreli has gained notoriety for
an even more maladroit move: raising
the price of a life-saving toxoplasmosis
drug 55-fold. The problem with the
name is that it could mislead the public
into believing the company benefits
society, as Turing did. Mr Shkreli
should change it.
jonathan.guthrie@ft.com
Insurance
Moodys
Banks litigation risk
Swiss Re acquires
Guardian from
Cinven for 1.6bn
Deal extends sectors wave
of M&A and expands
interest in closed books
Tui
Sunny trading outlook
WANdisco
Big data product boost
IPO waves
On the Beach
leaves other
stocks in shade
See Lombard
Dreamstime
Technology
DANIEL THOMAS
TELECOMS CORRESPONDENT
SCHEHERAZADE DANESHKHU
CONSUMER INDUSTRIES EDITOR
23
FINANCIAL TIMES
UK COMPANIES
Insurance
Stephen Hester:
repairing the
balance sheet
the best companies measured by shareholder esteem are not necessarily the
biggest; some of the most successful
stocks are smaller and medium-sized
companies.
So, from our view, in charting a strategy to be successful for shareholders its
clear we dont need a deal.
He said RSA was on track to complete
its strategy of focusing on core business
divisions comprising the UK, Canada
and Scandinavia and repairing the
balance sheet by the groups full-year
results announcement in February.
Since his appointment as RSA chief
executive in February 2014, Mr Hester
has bolstered the balance sheet through
a 775m rights issue and a series of dis-
5.6bn
The size of Zurich
Insurances offer
for RSA, which was
withdrawn
20%
Fall in RSAs share
price after the deal
U-turn by Zurich on
Monday
More on ft.com
Who is most
exposed to China
slowdown?
Nikolaos
Panigirtzoglou,
global market
strategist with
JPMorgan
Investment Bank,
talks to the FTs
capital markets
editor Dan
McCrum about the
banking,
investment and
trade links that tie
nations to China
KATE BURGESS
ft.com/video
Brokers
reticence does
not bode well
for Chancellor
George
Osbornes plan
to connect
stock markets
in London and
Shanghai
Stefan Rousseau/PA Wire
tiative will only work if there are credible sponsors for entities whom local
investors in London can rely on.
Aims Chinese IPOs have included citrus growers, forsythia farmers, a feng
shui business and oil and gold prospectors.
But as share prices have fallen, the
flow of new entrants has slowed to a
trickle.
Of the 45 Chinese businesses left on
Aim, the shares of only a handful
including Hutchison China Meditech
and MoneySwap have risen in the past
12 months.
Shares in more than a dozen have
halved or worse. These include new
entrants such as Aquatic Foods, a processor and supplier of fish and sea
Industrials
MICHAEL POOLER
INDUSTRY REPORTER
My major regret . . . is
that I have made much
less progress in terms of
focusing the portfolio
ioned it from the full force of the fall suffered by some of its competitors. Investment cuts by energy companies are hitting parts and equipment manufacturers that supply the sector.
Even so, the company reported a 2 per
cent drop in sales to 2.9bn for the full
year. Weaker performance across the
group overshadowed the success of its
medical devices unit, which notched up
its highest growth in nearly a decade.
Mr Bowman said the reduction of
Smiths net accounting pension deficit
to 108m, its lowest level since 2008,
meant it was no longer in any way a
material issue in terms of realigning the
[groups] portfolio.
My vision when I came was to
improve the performance of various
businesses and then focus on two or
three businesses. I still believe thats the
right thing to do, he added.
Shareholders will probably have to
wait until early next year before new
chief executive Andrew Reynolds
Smith, who has been lured from GKN,
sets out his vision for the group.
Earnings per share rose to 62.4p from
59p last year and the board recommended a 2 per cent increase in the
annual dividend. The shares have fallen
5.4 per cent this year.
SCHEHERAZADE DANESHKHU
CONSUMER INDUSTRIES EDITOR
24
FINANCIAL TIMES
MARKET DATA
WORLD MARKETS AT A GLANCE
FT.COM/MARKETSDATA
Nasdaq Composite
-0.20%
-0.08%
FTSE 100
-0.31%
1.62%
Nikkei
Hang Seng
-1.96%
0.07%
-2.26%
$ per
$ per
-0.43%
-0.446%
-0.782%
Stock Market movements over last 30 days, with the FTSE All-World in the same currency as a comparison
AMERICAS
EUROPE
Index
Aug 24 - Sep 23
S&P 500
All World
New York
Index
Aug 24 - Sep 23
S&P/TSX COMP
All World
Toronto
Month -1.63%
Year -2.78%
Nasdaq Composite
Day -0.80%
New York
Month -0.67%
Year -11.52%
IPC
43,042.36
41,471.47
Month 0.99%
Year 4.97%
Month 2.08%
Year -4.38%
Bovespa
45,340.11
44,544.85
Month -1.09%
Year -5.20%
Latest
London
Day -2.00%
Month -0.83%
Index
Year -19.81%
Latest
Previous
Year -9.58%
Europe
Day's
change
0.92
1.01
0.15
-2.33
-0.01
0.03
-0.40
-0.44
0.09
-0.33
BIGGEST MOVERS
Close
price
Day's
change
Day's
chng%
98.98
51.50
746.23
34.16
141.67
4.62
1.71
18.23
0.81
3.07
4.90
3.43
2.50
2.43
2.22
Ups
Petra Diamonds
Premier Oil
Int Consolidated Airlines S.a.
Coca-cola Hbc Ag
Enterprise Inns
11.01
47.74
13.31
60.24
13.66
-1.04
-3.36
-0.86
-3.69
-0.83
-8.63
-6.58
-6.07
-5.77
-5.73
Downs
Hunting
Jimmy Choo
Onesavings Bank
Zoopla Property
Drax
Based on the constituents of the S&P500 and the Nasdaq 100 index
0.75%
Index
Aug 24 - Sep 23
Kospi
All World
Seoul
Day 0.07%
Month -4.14%
CAC 40
Day -0.79%
Paris
Year 0.18%
Day -1.96%
Madrid
Month -7.76%
Day 0.10%
Month -4.28%
Index
1,846.63
Day -1.89%
Year 13.73%
Hong Kong
Day -2.26%
Month -4.94%
Day 0.18%
Country
Month -3.11%
Index
Shanghai
Philippines
Poland
Portugal
Manila Comp
Wig
PSI 20
PSI General
BET Index
Micex Index
RTX
TADAWUL All Share Index
FTSE Straits Times
SAX
SBI TOP
FTSE/JSE All Share
FTSE/JSE Res 20
FTSE/JSE Top 40
Kospi
Kospi 200
IBEX 35
CSE All Share
OMX Stockholm 30
OMX Stockholm AS
SMI Index
Romania
Russia
Saudi-Arabia
Singapore
Slovakia
Slovenia
South Africa
South Korea
Spain
Sri Lanka
Sweden
Switzerland
Day -2.15%
Previous
6926.91
50160.50
5030.45
2313.92
7150.24
1640.70
782.07
7442.71
2845.74
269.67
653.30
50381.63
34177.61
45062.05
1944.64
234.26
9474.60
7114.83
1421.50
476.75
8447.68
Country
7051.23
50713.83
5011.14
2300.43
7113.97
1664.25
789.56
7442.71
2868.47
267.84
650.62
49853.09
33841.24
44523.72
1982.06
238.68
9550.20
7118.38
1425.39
476.58
8475.47
Taiwan
Thailand
Turkey
UAE
UK
USA
Venezuela
Vietnam
Month -11.17%
Latest
Weighted Pr
Bangkok SET
BIST 100
Abu Dhabi General Index
FT 30
FTSE 100
FTSE 4Good UK
FTSE All Share
FTSE techMARK 100
DJ Composite
DJ Industrial
DJ Transport
DJ Utilities
Nasdaq 100
Nasdaq Cmp
NYSE Comp
S&P 500
Wilshire 5000
IBC
VNI
Mumbai
25,822.99
Day 1.14%
Previous
8193.42
1375.17
74993.71
4514.28
2698.60
6032.24
5510.47
3323.25
3718.82
5804.41
16279.89
7861.28
562.39
4273.53
4752.74
9867.91
1938.76
20430.39
12613.33
572.72
Year 11.76%
25,741.56
Year 36.07%
Index
Month -4.22%
BSE Sensex
2,964.97
Year 3.53%
Latest
Singapore
2,845.74
Day -0.79%
3,115.89
21,068.88
Year -4.64%
2,843.39
Year -11.07%
Shanghai Composite
Month 3.65%
21,302.91
21,251.57
Milan
21,649.69
4,432.83
Year -0.22%
Month -12.37%
Hang Seng
Year -13.46%
FTSE MIB
4,564.86
Country
Month -5.06%
9,474.60
1,366.18
Year -0.50%
1,944.64
Country
8365.92
1379.32
75860.70
4514.28
2660.90
5935.84
5426.37
3276.30
3676.36
5819.24
16330.47
7896.36
560.81
4274.10
4756.72
9912.60
1942.74
20487.30
12972.80
573.20
Month -5.64%
Index
DJ Global Titans ($)
Euro Stoxx 50 (Eur)
Euronext 100 ID
FTSE 4Good Global ($)
FTSE All World
FTSE E300
FTSE Eurotop 100
FTSE Global 100 ($)
FTSE Gold Min ($)
FTSE Latibex Top (Eur)
FTSE Multinationals ($)
FTSE World ($)
FTSEurofirst 100 (Eur)
FTSEurofirst 80 (Eur)
MSCI ACWI Fr ($)
MSCI All World ($)
MSCI Europe (Eur)
MSCI Pacific ($)
S&P Euro (Eur)
S&P Europe 350 (Eur)
S&P Global 1200 ($)
Stoxx 50 (Eur)
Cross-Border
Year -5.09%
Latest
Previous
219.20
3079.99
857.10
5168.95
254.02
1366.18
2712.31
1228.56
835.74
2421.50
1412.39
450.11
3842.86
4124.97
386.51
1600.76
1341.00
2183.55
1370.40
1401.45
1760.88
2964.71
219.28
3076.05
856.80
5172.76
255.12
1365.20
2709.22
1229.72
876.18
2429.50
1440.32
451.79
3829.98
4121.03
392.99
1628.93
1334.67
2206.90
1369.25
1400.96
1765.93
2961.08
LONDON
ACTIVE STOCKS
close
price
114.32
93.97
15.72
536.07
89.95
25.14
98.07
72.30
653.29
622.36
Downs
Consol Energy
Cf Industries Holding
Southwestern Energy
Wynn Resorts Ltd
Transocean
All World
Tokyo
18,070.21
10,115.40
1,406.98
Cyprus
Czech Republic
Denmark
Egypt
Estonia
Finland
France
stock
traded m's
Apple
40.8
Facebook Class A
20.3
Bank Of America
12.2
Amazon.com
11.9
Hospira
11.8
General Electric
10.3
Netflix
10.0
Exxon Mobil
10.0
Google Class A
9.5
Google Class C Capital Stock
9.1
Ups
Tesoro
Carnival
Autozone
Paypal Holdings Common Stock
Signet Jewelers
Index
Aug 19 - Sep 18
Nikkei 225
Frankfurt
Ibex 35
Gold $
-3.06%
0.274%
9,612.62
Day 0.44%
22633.55
31981.21
21031.80
4594.31
18432.27
1247.85
1491.91
2063.88
4212.11
5744.28
571.25
485.66
1383.44
1635.37
43232.06
9087.24
419.98
650.30
5696.79
30265.90
619.11
32882.02
9654.08
5130.80
5103.60
2808.60
2200.09
3346.05
5690.20
46264.61
792.44
13491.09
392.94
18346.26
8645.54
9416.59
3335.63
311.74
3184.36
1831.29
1044.65
1233.98
1692.67
Country
Month -2.44%
All World
10,128.12
Previous
Merval
All Ordinaries
S&P/ASX 200
S&P/ASX 200 Res
ATX
BEL 20
BEL Mid
Bovespa
S&P/TSX 60
S&P/TSX Comp
S&P/TSX Met & Min
IGPA Gen
FTSE A200
FTSE B35
Shanghai A
Shanghai B
Shanghai Comp
Shenzhen A
Shenzhen B
COLCAP
CROBEX
Previous
Index
Aug 24 - Sep 23
Xetra Dax
Latest
Argentina
Australia
Index
5,898.87
Day 1.62%
So Paulo
16,279.89
Day -0.31%
Country
Day -0.44%
New York
15,871.35
All World
6,032.24
Mexico City
4,752.74
4,526.25
Day -0.08%
0.383%
ASIA
Index
Aug 24 - Sep 23
FTSE 100
13,383.69
13,052.74
Day -0.20%
per
20,033.52
1,938.76
1,893.21
per $
Glencore
Hsbc Holdings
Glaxosmithkline
Diageo
Imperial Tobacco
Vodafone
Bp
Bhp Billiton
Rio Tinto
Royal Dutch Shell
stock
traded m's
144.8
134.1
106.3
104.9
104.8
101.7
96.8
96.3
96.2
94.4
close
price
109.10
498.75
1274.00
1733.00
3399.00
216.00
329.45
1041.50
2222.00
1561.00
Day's
change
2.75
11.35
27.00
16.50
79.00
4.10
4.25
20.00
28.00
25.50
Close
price
Day's
change
Day's
chng%
99.00
67.50
594.00
1401.00
110.50
8.05
3.90
27.00
62.00
4.40
8.85
6.13
4.76
4.63
4.15
394.10
136.60
384.30
204.80
259.30
-21.30
-6.40
-16.70
-7.30
-6.80
-5.13
-4.48
-4.16
-3.44
-2.56
BIGGEST MOVERS
EURO MARKETS
ACTIVE STOCKS
TOKYO
ACTIVE STOCKS
stock
traded m's
Volkswagen Ag Vzo O.n.
1226.5
Santander
717.6
Eni
574.8
Daimler Ag Na O.n.
563.3
Bbva
523.8
Novartis N
423.2
Nestle N
377.0
Telefonica
372.9
Roche Gs
362.4
Total
358.4
close
price
106.00
4.77
14.04
66.25
7.41
82.39
65.68
10.87
228.27
40.63
Day's
change
0.00
-0.10
0.19
0.00
-0.09
0.00
-0.23
-0.08
0.00
0.87
stock
traded m's
Toyota Motor
738.5
Mitsubishi Ufj Fin,.
722.9
Mizuho Fin,.
719.0
Sumitomo Mitsui Fin,.
590.7
Nippon Telegraph And Telephone
450.2
Softbank .
426.2
Kddi
422.8
Mitsui & Co.,
312.1
Thb Dai-ichi Life Insurance ,
303.9
Nissan Motor Co.,
279.5
close
price
7234.00
744.00
233.40
4699.50
4333.00
6270.00
2747.50
1509.50
1882.00
1140.00
Day's
change
-104.00
-24.30
-4.40
-154.50
-57.50
26.00
115.50
-44.00
-125.00
-28.00
BIGGEST MOVERS
Day's
change
Day's
chng%
BIGGEST MOVERS
Ups
Total
Unibail-rodamco
Alcatel-lucent
Volvo , Ab Ser. B
Valeo
Close
price
Day's
change
Day's
chng%
40.63
225.00
3.20
8.93
113.90
0.87
3.95
0.05
0.15
1.90
2.18
1.79
1.75
1.70
1.70
Ups
Kddi
Pioneer
Seven & I Holdings Co.,
Jtekt
Mitsubishi Motors
Close
price
2747.50
281.00
5158.00
1839.00
982.00
115.50
10.00
92.00
19.00
8.00
4.39
3.69
1.82
1.04
0.82
Downs
Altice
Altice B
Coloplast B A/s
Arcelormittal
B. Sabadell
21.41
22.58
61.35
5.27
1.65
-1.25
-1.22
-3.00
-0.19
-0.06
-5.50
-5.13
-4.67
-3.53
-3.39
Downs
Nksj Holdings,.
Thb Dai-ichi Life Insurance ,
Jfe Holdings,.
Ms&ad Insurance Holdings,.
T&d Holdings, .
3526.50
1882.00
1781.00
3308.00
1433.00
-239.50
-125.00
-101.50
-179.00
-75.50
-6.36
-6.23
-5.39
-5.13
-5.00
FTSE 100
Winners
Land Securities
British Land
Imperial Tobacco
National Grid
United Utilities
Smith & Nephew
Compass
Sky
Direct Line Insurance
Hammerson
Coca-cola Hbc Ag
Associated British Foods
Sep 23
price(p)
%Chg
week
%Chg
ytd
1247.00
823.50
3399.00
862.00
889.50
1171.00
1025.00
1023.00
365.00
613.00
1401.00
3140.00
2.2
2.2
1.4
1.1
1.0
0.7
0.7
0.3
0.2
0.2
0.1
0.1
7.8
6.0
19.9
-6.1
-2.9
-1.4
-6.9
13.8
14.9
1.3
14.1
-0.4
FTSE 250
Winners
Nmc Health
Centamin
Cls Holdings
Udg Healthcare
Ig Holdings
Euromoney Institutional Investor
Ocado
Ao World
Onesavings Bank
Shaftesbury
Betfair
Ted Baker
Losers
Rsa Insurance
Glencore
Antofagasta
Anglo American
Johnson Matthey
Standard Chartered
Smiths
Gkn
Bhp Billiton
Rio Tinto
Standard Life
Aberdeen Asset Management
403.70
109.10
524.50
658.10
2378.00
667.80
1039.00
260.80
1041.50
2222.00
389.80
312.60
-21.8
-19.0
-13.2
-12.2
-9.6
-9.2
-8.0
-7.4
-7.3
-7.2
-6.8
-6.5
-7.2
-63.5
-30.3
-45.2
-30.0
-30.7
-5.4
-24.2
-25.0
-25.9
-2.6
-27.7
Losers
Kaz Minerals
Rotork
Premier Oil
Hunting
Vedanta Resources
Tullow Oil
Bodycote
Vesuvius
Aa
Petra Diamonds
Petrofac
Senior
Sep 23
price(p)
%Chg
week
%Chg
ytd
821.00
64.15
1890.00
520.50
760.50
1064.00
329.80
156.70
384.30
909.00
3225.00
3064.00
7.3
5.5
5.3
5.0
3.3
3.3
3.2
3.1
3.0
2.7
2.7
2.6
78.5
8.9
23.6
36.0
5.8
1.6
-17.6
-21.7
79.2
16.4
105.2
38.0
FTSE SmallCap
Winners
Xchanging
Assura
Oxford Biomedica
Town Centre Securities
Findel
Communisis
Development Securities
Ncc
Goodwin
Hilton Food
Xp Power
Trinity Mirror
106.40
171.20
67.50
394.10
469.50
179.70
544.50
341.00
296.30
99.00
756.50
250.90
-32.0
-20.7
-19.0
-16.3
-14.7
-14.1
-13.2
-12.8
-11.3
-10.7
-10.7
-10.5
-58.7
-26.4
-59.6
-25.9
-18.3
-56.6
-15.9
-23.6
-15.9
-49.0
7.6
-17.2
Losers
Ferrexpo
Premier Farnell
Aquarius Platinum Ld
Lonmin
Brammer
Kenmare Resources
Speedy Hire
Tt Electronics
Sdl
Puretech Health
Tribal
Hochschild Mining
Sep 23
price(p)
%Chg
week
%Chg
ytd
104.00
63.25
8.90
315.00
186.00
52.00
264.75
267.00
2285.00
465.00
1640.00
153.50
10.1
10.0
7.9
6.3
6.1
6.1
5.2
5.0
4.6
4.3
4.1
4.1
-33.1
24.0
69.5
15.8
-17.1
4.3
19.3
29.8
-8.2
20.8
17.3
-5.7
Sep 23
Industry Sectors
price(p)
Winners
Real Estate Investment Trusts 3307.45
Health Care Equip.& Services 6735.22
Real Estate & Investment Servic 3124.43
Food Producers
8158.27
Gas Water & Multiutilities
5582.98
Household Goods
15759.23
Tobacco
43147.44
Electricity
8392.42
Media
6955.36
Travel & Leisure
8383.93
Equity Investment Instruments 7070.73
Mobile Telecommunications
4951.92
34.00
108.25
7.05
19.50
260.00
2.09
36.25
133.00
334.50
137.50
118.25
67.50
-42.1
-18.8
-15.1
-14.5
-13.3
-12.9
-9.4
-9.1
-8.3
-7.7
-7.3
-7.2
-35.8
-38.5
-52.2
-89.0
-23.9
-35.5
-54.1
28.5
-19.4
-26.4
-23.3
Losers
Industrial Metals
Industrial Engineering
Mining
Oil Equipment & Services
Automobiles & Parts
Chemicals
Nonlife Insurance
Oil & Gas Producers
General Industrials
Aerospace & Defense
Life Insurance
Electronic & Electrical Equip.
643.12
7118.70
9123.30
15168.14
6097.68
9823.10
2295.78
5583.05
4218.65
4132.14
7127.99
3937.25
%Chg
week
%Chg
ytd
1.4
1.3
-0.3
-0.3
-0.3
-0.5
-0.7
-0.8
-0.9
-1.1
-1.3
-1.3
8.2
0.2
16.7
0.2
-8.9
23.2
6.1
-14.3
6.5
4.0
-2.5
-1.4
-10.2
-10.0
-9.4
-9.3
-7.3
-6.3
-5.4
-5.3
-4.8
-4.5
-4.4
-4.0
-57.9
-19.4
-36.0
-7.7
-24.1
-13.2
18.6
-21.7
8.3
-13.1
-5.5
-2.3
CURRENCIES
Sep 23
Argentina
Australia
Bahrain
Bolivia
Brazil
Canada
Chile
China
Colombia
Costa Rica
Czech Republic
Denmark
Egypt
Hong Kong
Hungary
India
Currency
Argentine Peso
Australian Dollar
Bahrainin Dinar
Bolivian Boliviano
Brazilian Real
Canadian Dollar
Chilean Peso
Chinese Yuan
Colombian Peso
Costa Rican Colon
Czech Koruna
Danish Krone
Egyptian Pound
Hong Kong Dollar
Hungarian Forint
Indian Rupee
DOLLAR
Closing
Mid
9.3893
1.4249
0.3774
6.9000
4.1290
1.3287
701.6050
6.3839
3099.5000
533.6000
24.3360
6.6939
7.8334
7.7500
279.4079
66.0600
Day's
Change
0.0039
0.0087
-0.0100
0.0767
2.5400
0.0079
26.5500
1.3000
0.1685
-0.0054
0.0273
2.2663
0.1550
EURO
Closing
Mid
10.4644
1.5881
0.4206
7.6901
4.6017
1.4808
781.9417
7.1149
3454.4056
594.6994
27.1226
7.4604
8.7304
8.6375
311.4012
73.6241
POUND
Day's
Closing
Day's
Change
Mid
Change
-0.0425
14.2999
-0.1040
0.0026
2.1701
-0.0034
-0.0019
0.5747
-0.0044
-0.0456
10.5087
-0.0961
0.0653
6.2884
0.0694
-0.0066
2.0236
-0.0156
-0.6580 1068.5425
-4.3178
-0.0230
9.7227
-0.0626
14.2533 4720.5304
4.4503
-1.2077 812.6714
-4.2534
0.0672
37.0637
-0.0264
-0.0395
10.1948
-0.0868
-0.0085
11.9302
-0.0498
-0.0387
11.8033
-0.0908
1.1426 425.5374
0.2061
-0.1562 100.6092
-0.5357
Sep 23
Indonesia
Israel
Japan
..One Month
..Three Month
..One Year
Kenya
Kuwait
Malaysia
Mexico
New Zealand
Nigeria
Norway
Pakistan
Peru
Philippines
Currency
Indonesian Rupiah
Israeli Shekel
Japanese Yen
Kenyan Shilling
Kuwaiti Dinar
Malaysian Ringgit
Mexican Peson
New Zealand Dollar
Nigerian Naira
Norwegian Krone
Pakistani Rupee
Peruvian Nuevo Sol
Philippine Peso
DOLLAR
Closing
Day's
Mid
Change
14647.5000
190.0000
3.9593
0.0233
120.4950
0.4600
120.4949
0.4598
120.4948
0.4596
120.4938
0.4577
105.6500
0.3025
0.0008
4.3465
0.0505
17.0278
0.3595
1.5964
0.0131
199.0500
-0.2000
8.3019
0.0853
104.3750
0.0600
3.2237
0.0115
46.8200
0.2300
EURO
POUND
Closing
Day's
Closing
Day's
Mid
Change
Mid
Change
16324.7182 139.6124 22308.1333
120.0807
4.4127
0.0063
6.0300
-0.0106
134.2922
-0.0864 183.5136
-0.7050
134.2921
-0.0865 183.5134
-0.7055
134.2921
-0.0865 183.5131
-0.7059
134.2920
-0.0867 183.5134
-0.7073
117.7474
-0.5273 160.9047
-1.2372
0.3371
-0.0007
0.4607
-0.0024
4.8442
0.0348
6.6197
0.0266
18.9775
0.3175
25.9332
0.3523
1.7792
0.0067
2.4313
0.0015
221.8421
-1.2173 303.1526
-2.6378
9.2525
0.0541
12.6438
0.0337
116.3264
-0.4537 158.9628
-1.1302
3.5928
-0.0032
4.9096
-0.0200
52.1811
0.0238
71.3067
-0.1953
Sep 23
Currency
Poland
Polish Zloty
Romania
Romanian Leu
Russia
Russian Ruble
Saudi Arabia
Saudi Riyal
Singapore
Singapore Dollar
South African Rand
South Africa
South Korea
South Korean Won
Sweden
Swedish Krona
Switzerland
Swiss Franc
Taiwan
New Taiwan Dollar
Thailand
Thai Baht
Tunisia
Tunisian Dinar
Turkey
Turkish Lira
United Arab Emirates
UAE Dirham
United Kingdom
Pound Sterling
..One Month
DOLLAR
Closing
Mid
3.7798
3.9647
65.6227
3.7505
1.4252
13.7795
1191.3500
8.4324
0.9796
32.8265
36.1800
1.9722
3.0340
3.6727
0.6566
0.6566
Day's
Change
-0.0026
-0.0107
-0.9198
0.0001
0.0060
0.0582
12.1500
0.0196
0.0076
0.2075
0.3800
-0.0004
0.0019
0.0004
0.0050
0.0050
EURO
Closing
Mid
4.2125
4.4186
73.1367
4.1799
1.5883
15.3573
1327.7647
9.3979
1.0917
36.5853
40.3228
2.1980
3.3813
4.0932
0.7318
0.7317
POUND
Day's
Closing
Day's
Change
Mid
Change
-0.0218
5.7565
-0.0483
-0.0318
6.0382
-0.0628
-1.3573
99.9431
-2.1802
-0.0187
5.7119
-0.0438
-0.0005
2.1705
-0.0076
-0.0036
20.9861
-0.0720
7.6562 1814.4230
4.6959
-0.0201
12.8425
-0.0687
0.0036
1.4919
0.0001
0.0685
49.9947
-0.0660
0.2448
55.1020
0.1595
-0.0103
3.0037
-0.0237
-0.0130
4.6207
-0.0326
-0.0179
5.5935
-0.0425
0.0023
0.0023
-
Sep 23
..Three Month
..One Year
United States
..One Month
..Three Month
..One Year
Venezuela
Vietnam
European Union
..One Month
..Three Month
..One Year
Currency
DOLLAR
Closing
Mid
0.6565
0.6564
6.3015
22480.5000
0.8973
0.8972
0.8971
0.8963
Day's
Change
0.0050
0.0050
0.0115
3.0000
0.0040
0.0040
0.0040
0.0040
EURO
POUND
Closing
Day's
Closing
Day's
Mid
Change
Mid
Change
0.7316
0.0023
0.7311
0.0023
1.1145
-0.0050
1.5230
-0.0117
1.1144
-0.4202
1.5230
-0.0117
1.1143
-0.4202
1.5229
-0.0117
1.1135
-0.4202
1.5228
-0.0117
7.0230
-0.0186
9.5972
-0.0561
25054.6191 -108.8808 34237.7814
-258.6569
1.3665
-0.0044
1.3665
-0.0044
1.3664
-0.0044
1.3658
-0.0044
Rates are derived from WM Reuters Spot Rates and MorningStar (latest rates at time of production). Some values are rounded. Currency redenominated by 1000. The exchange rates printed in this table are also available at www.FT.com/marketsdata
UK SERIES
www.ft.com/equities
Strlg Day's
Euro
Strlg
Strlg
Year
Div
Sep 23 chge%
Index
Sep 22
Sep 21
ago yield% Cover
FTSE 100 (100)
6032.24
1.62 6420.14 5935.84 6108.71 6706.27 4.02 1.44
FTSE 250 (250)
16659.85
0.79 17731.15 16529.98 16893.31 15537.61 2.55 2.14
FTSE 250 ex Inv Co (211)
18140.67
0.80 19307.19 17996.56 18413.92 16752.05 2.57 2.24
FTSE 350 (350)
3370.35
1.47 3587.08 3321.38 3413.87 3640.30 3.76 1.52
FTSE 350 ex Investment Trusts (311) 3348.20
1.49 3563.51 3298.95 3391.91 3622.56 3.79 1.52
FTSE 350 Higher Yield (107)
3077.45
1.56 3275.35 3030.12 3115.16 3646.00 5.59 1.18
FTSE 350 Lower Yield (243)
3343.54
1.39 3558.55 3297.86 3388.96 3278.01 1.88 2.57
FTSE SmallCap (294)
4517.05
0.38 4807.52 4500.03 4551.50 4410.19 2.82 1.72
FTSE SmallCap ex Inv Co (158)
4143.68
0.33 4410.14 4130.20 4170.94 3907.49 2.73 2.48
FTSE All-Share (644)
3323.25
1.43 3536.95 3276.30 3365.51 3576.68 3.72 1.53
FTSE All-Share ex Inv Co (469)
3287.18
1.47 3498.56 3239.63 3329.64 3546.94 3.76 1.54
FTSE All-Share ex Multinationals (579) 1156.37
1.14 1020.05 1143.36 1170.23 1097.60 2.73 2.05
FTSE Fledgling (106)
7751.70
0.09 8250.16 7745.02 7787.39 6930.36 2.42 0.92
FTSE Fledgling ex Inv Co (54)
10969.27
0.18 11674.64 10949.68 11004.06 8556.94 2.43 0.82
FTSE All-Small (400)
3136.15
0.36 3337.82 3124.80 3159.58 3049.08 2.80 1.69
FTSE All-Small ex Inv Co Index (212) 3097.80
0.32 3297.01 3087.91 3117.75 2897.02 2.72 2.42
FTSE AIM All-Share Index (837)
731.11
0.08
778.12
730.51
739.82
753.57 1.43 1.01
FTSE Sector Indices
Oil & Gas (18)
5942.72
Oil & Gas Producers (11)
5617.12
Oil Equipment Services & Distribution (7)15788.69
Basic Materials (31)
3219.11
10526.66
Chemicals (8)
Forestry & Paper (1)
16067.08
Industrial Metals & Mining (2)
692.34
Mining (20)
8745.10
Industrials (117)
4209.66
Construction & Materials (13)
5101.89
Aerospace & Defense (9)
4301.08
General Industrials (6)
3430.08
Electronic & Electrical Equipment (11) 5085.27
Industrial Engineering (14)
7622.82
Industrial Transportation (8)
3997.69
Support Services (56)
6333.34
17012.02
Consumer Goods (40)
Automobiles & Parts (1)
6128.92
Beverages (6)
14065.34
Food Producers (10)
8225.95
Household Goods & Home Construction (13)13176.05
Leisure Goods (2)
5574.54
Personal Goods (6)
20613.63
Tobacco (2)
43147.51
Health Care (20)
8909.99
Health Care Equipment & Services (8) 6880.72
Pharmaceuticals & Biotechnology (12)12030.13
Consumer Services (98)
4709.13
Food & Drug Retailers (7)
2718.47
General Retailers (33)
2958.66
Media (23)
7051.49
Travel & Leisure (35)
8191.22
Telecommunications (7)
3737.98
Fixed Line Telecommunications (5) 4781.94
Mobile Telecommunications (2)
4944.43
Utilities (8)
7915.11
Electricity (3)
8350.39
Gas Water & Multiutilities (5)
7378.48
Financials (284)
4428.94
Banks (9)
3761.23
Nonlife Insurance (10)
2647.84
Life Insurance/Assurance (11)
7236.72
Index- Real Estate Investment & Services (22) 3116.74
Real Estate Investment Trusts (25) 2990.18
General Financial (32)
7698.45
Equity Investment Instruments (175) 7346.99
Non Financials (360)
3837.91
Technology (21)
1303.08
Software & Computer Services (14) 1624.29
Technology Hardware & Equipment (7) 1473.22
1.46
1.58
-1.29
1.66
1.52
2.32
3.99
1.64
0.88
1.30
0.52
0.49
0.44
0.64
0.00
1.11
1.78
2.44
1.86
0.84
2.15
0.30
1.13
1.86
1.87
0.94
1.96
1.53
0.41
1.56
1.47
1.90
1.86
1.81
1.88
1.22
1.64
1.12
1.18
1.37
0.63
1.23
0.24
1.77
1.17
0.58
1.53
0.89
0.90
0.89
6324.86
5978.33
16803.98
3426.11
11203.57
17100.26
736.86
9307.45
4480.35
5429.96
4577.66
3650.65
5412.27
8113.00
4254.76
6740.60
18105.97
6523.04
14969.80
8754.91
14023.32
5933.00
21939.18
45922.09
9482.95
7323.18
12803.72
5011.95
2893.28
3148.91
7504.93
8717.95
3978.35
5089.43
5262.38
8424.08
8887.35
7852.95
4713.74
4003.09
2818.11
7702.07
3317.16
3182.46
8193.50
7819.43
4084.71
1386.88
1728.73
1567.95
5857.27
5529.94
15994.78
3166.41
10369.30
15702.72
665.78
8604.23
4173.14
5036.39
4278.88
3413.51
5062.89
7573.97
3997.55
6263.73
16714.40
5983.22
13808.19
8157.63
12899.28
5557.71
20382.56
42359.00
8746.73
6816.91
11798.68
4637.96
2707.45
2913.29
6949.47
8038.25
3669.88
4696.80
4853.07
7819.32
8215.86
7297.10
4377.42
3710.37
2631.34
7149.09
3109.14
2938.18
7609.20
7304.88
3780.24
1291.52
1609.72
1460.28
6034.15
5696.23
16525.33
3341.13
10873.11
16302.15
680.36
9098.48
4274.95
5171.06
4378.08
3507.38
5177.77
7847.98
4044.07
6408.94
17151.38
6399.18
14228.33
8331.54
13200.99
5598.36
20959.32
43317.29
9100.73
6881.13
12313.63
4764.99
2819.21
2993.78
7109.81
8253.90
3757.39
4800.26
4974.34
7919.31
8397.25
7372.39
4469.47
3795.94
2660.62
7357.74
3142.80
2972.52
7799.81
7403.60
3891.63
1321.90
1648.22
1494.12
8767.57
8294.87
22859.25
5331.72
10565.94
12282.44
1501.66
15852.21
4288.90
4073.60
5024.97
3309.16
4736.45
10206.23
4052.92
6195.11
15800.84
7792.75
14224.56
7122.90
9995.57
5122.91
20960.85
40649.64
9356.67
5900.83
12867.15
4247.48
2875.36
2661.09
6392.31
7007.29
3494.88
4507.79
4596.87
8652.98
9693.21
7932.78
4616.57
4509.95
2164.54
7424.66
2591.35
2537.13
6629.33
7390.34
4176.09
1144.77
1254.01
1420.08
P/E
ratio
17.32
18.31
17.41
17.49
17.33
15.19
20.68
20.61
14.77
17.59
17.27
17.88
45.05
50.32
21.21
15.22
69.28
X/D
adj
203.92
345.34
380.29
106.16
106.40
140.30
60.52
95.49
86.22
103.41
103.70
25.96
129.44
157.30
65.61
63.51
6.06
Total
Return
4692.72
11527.30
12799.72
5285.86
2703.73
4934.19
3526.24
6147.40
5925.60
5272.37
2698.41
1957.96
13882.32
19086.06
5480.48
5612.73
783.05
8.00
9.00
10.00
11.00
12.00
13.00
14.00
15.00
16.00 High/day Low/day
Hourly movements
FTSE 100
5958.24 5980.26 6015.01 6018.81 6020.56 6032.18 6059.94 6044.81 6055.85 6067.55 5933.53
FTSE 250
16544.84 16544.30 16609.59 16599.56 16597.73 16632.82 16698.12 16659.22 16675.35 16702.77 16481.51
FTSE SmallCap
4503.18 4510.63 4515.95 4514.55 4513.02 4514.87 4518.00 4517.58 4518.64 4519.33 4502.95
FTSE All-Share
3286.66 3296.46 3313.99 3315.27 3315.92 3322.25 3336.67 3328.73 3334.13 3339.43 3274.13
Time of FTSE 100 Day's high:12:46:45 Day's Low07:14:15 FTSE 100 2010/11 High: 7103.98(27/04/2015) Low: 5898.87(24/08/2015)
Time of FTSE All-Share Day's high:13:04:00 Day's Low07:14:00 FTSE 100 2010/11 High: 3834.45(27/04/2015) Low: 3245.99(24/08/2015)
Further information is available on http://www.ftse.com FTSE International Limited. 2013. All Rights reserved. FTSE is a trade mark of the
London Stock Exchange Group companies and is used by FTSE International Limited under licence. Sector P/E ratios greater than 80 are not shown.
For changes to FTSE Fledgling Index constituents please refer to www.ftse.com/indexchanges. Values are negative.
UK RIGHTS OFFERS
Amount
Latest
Issue
paid
renun.
price
up
date
High
Low
Stock
There are currently no rights offers by any companies listed on the LSE.
FT 30 INDEX
General Retailers
Fixed Line Telecomms
Electronic & Elec Eq
Support Services
Telecommunications
Food Producers
Beverages
Industrials
Health Care Eq & Srv
Tech Hardware & Eq
Mobile Telecomms
Equity Invest Instr
Personal Goods
Health Care
Oil Equipment & Serv
Pharmace & Biotech
Industrial Transport
Financials
+or-
Life Insurance
FTSE All{HY-}Share Index
NON FINANCIALS Index
Food & Drug Retailer
FTSE 100 Index
Gas Water & Multi
Chemicals
Utilities
Aerospace & Defense
Banks
Industrial Eng
Electricity
Oil & Gas
Automobiles & Parts
Oil & Gas Producers
Basic Materials
Mining
Industrial Metals &
-4.45
-4.73
-5.01
-5.71
-7.04
-9.19
-9.77
-10.49
-11.16
-12.72
-13.49
-15.05
-19.94
-20.41
-20.54
-27.99
-31.77
-52.46
No of
stocks
7758
7122
1411
1651
4696
3062
2552
7430
5741
6498
2117
5752
917
217
306
718
322
401
1523
723
1394
174
304
782
478
526
433
1433
959
2006
494
451
1061
99
241
219
328
2017
1400
636
3010
1004
3062
523
US $
indices
437.55
450.75
385.05
586.79
622.30
255.12
451.79
449.06
409.03
446.33
410.77
432.27
379.29
322.29
490.24
702.32
416.95
633.40
649.44
279.98
218.88
312.45
456.61
489.91
129.30
529.95
724.91
483.05
420.12
580.19
550.65
719.92
598.00
284.91
626.80
678.11
325.66
481.86
371.33
343.71
5302.71
8502.10
307.03
269.07
Day
%
-1.6
-1.4
-1.6
-1.8
-1.5
-1.6
-1.7
-1.5
-2.0
-1.8
-1.7
-1.7
-1.6
-3.8
-3.3
-2.9
-1.2
-1.6
-1.5
-1.3
-2.2
0.4
0.4
0.4
0.4
-0.4
-0.2
-0.1
-0.3
-1.1
-1.2
-1.3
-0.4
-2.6
-2.3
-1.9
-3.6
-1.3
-3.6
-3.8
-1.8
-1.2
-1.5
-3.2
Mth
%
-2.7
-2.3
-2.8
-2.8
-1.7
-2.8
-2.9
-2.5
-4.0
-2.5
-2.9
-2.8
-2.9
-6.1
-4.7
-3.2
-1.4
-1.9
-1.4
-1.5
-5.1
-5.3
-5.3
-4.1
-5.3
-1.2
1.2
1.3
-0.9
-1.5
-1.9
-0.9
0.8
-0.3
-5.9
-5.7
-5.8
-1.5
-5.4
-5.9
-4.0
-2.0
-2.4
-4.3
YTD
Total
%
retn
-6.9 595.25
-6.9 602.30
-7.6 535.66
-5.0 762.85
-4.6 785.35
-7.2 366.12
-7.0 870.41
-6.7 602.48
-8.5 590.28
-7.7 612.70
-6.3 562.82
-6.0 585.95
-6.8 526.62
-8.9 505.65
-2.0 700.05
2.0 976.58
-6.2 545.48
-6.6 778.08
-5.7 775.91
-6.3 375.47
-6.2 338.76
2.4 387.14
7.4 547.81
4.5 606.43
3.4 180.10
-13.9 788.38
-10.1 1040.57
-9.6 684.23
-13.5 664.32
-15.9 824.55
-15.8 787.22
-16.4 1018.76
-15.5 819.98
-8.6 414.91
-30.5 918.08
-11.9 1004.61
-9.3 511.09
-5.3 614.01
-6.8 565.07
-6.7 529.34
-10.0 6633.74
-8.5 10672.93
-3.9 410.44
-3.4 391.28
UK COMPANY RESULTS
closing
Price p
3.86
3.80
2.36
1.19
0.64
0.51
0.40
-0.38
-0.46
-0.94
-1.18
-1.33
-2.42
-2.55
-2.73
-2.77
-2.84
-3.88
Company
AIREA
Cayenne Trust (The)
Eco City Vehicles
Edenville Energy
EG Solutions
European Islamic Investment Bank
Gresham House
Hurricane Energy
Hydrodec Group
Immedia Group
NAHL Group
PuriCore
Richoux Group
Smiths Group
FTSE 100
Closing Day's
Price Change FTSE 100
Closing Day's
Price Change
3I Group PLC
Aberdeen Asset Management PLC
Admiral Group PLC
Anglo American PLC
Antofagasta PLC
Arm Holdings PLC
Ashtead Group PLC
Associated British Foods PLC
Astrazeneca PLC
Aviva PLC
Babcock International Group PLC
Bae Systems PLC
Barclays PLC
Barratt Developments PLC
Berkeley Group Holdings (The) PLC
Bg Group PLC
Bhp Billiton PLC
BP PLC
British American Tobacco PLC
British Land Company PLC
Bt Group PLC
Bunzl PLC
Burberry Group PLC
Capita PLC
Carnival PLC
Centrica PLC
Coca-Cola Hbc AG
Compass Group PLC
Crh PLC
Diageo PLC
Direct Line Insurance Group PLC
Dixons Carphone PLC
Easyjet PLC
Experian PLC
Fresnillo PLC
G4S PLC
Gkn PLC
Glaxosmithkline PLC
Glencore PLC
Hammerson PLC
Hargreaves Lansdown PLC
Hikma Pharmaceuticals PLC
HSBC Holdings PLC
Imperial Tobacco Group PLC
Inmarsat PLC
Intercontinental Hotels Group PLC
International Consolidated Airlines Group S.A.
Intertek Group PLC
Intu Properties PLC
Itv PLC
Johnson Matthey PLC
345.90
7.90
1247 27.00
242.60
3.80
72.95
0.65
2395 45.00
488.40 12.40
472.10
8.20
373.70
4.70
1367 31.00
152.60
0.50
862.00 10.40
7495 95.00
192.20
6.10
1119 19.00
2074 33.00
1366.5 15.00
3740 5850 147.00
1070 18.00
2222 28.00
679.50 -6.00
313.30
2.00
1575.5 31.50
1561 25.50
457.70
0.40
403.70 -2.50
3567.5 99.00
505.50
7.70
228.70
0.90
2822 32.00
2091 13.00
4670 127.00
1023 14.00
1171 15.00
1039 10.00
748.50
9.00
1445 28.00
856.00
7.50
667.80 -5.20
389.80
4.10
200.10
3.50
168.55
0.35
2000 15.00
1208 30.00
2581 30.00
889.50 13.00
216.00
4.10
4598 43.00
4214 100.00
1349 19.00
All data provided by Morningstar unless otherwise noted. All elements listed are indicative and believed
accurate at the time of publication. No offer is made by Morningstar or the FT. The FT does not warrant nor
guarantee that the information is reliable or complete. The FT does not accept responsibility and will not be
liable for any loss arising from the reliance on or use of the listed information.
For all queries e-mail ft.reader.enquiries@morningstar.com
Turnover
22.951
25.538
3.601
4.854
3.992
6.045
21.344
1.374
25.411
9.075
6.695
2897
29.432
1.257
22.09
8.568
6.678
2952
Pre-tax
0.65
0.203
0.225L
0.422L
0.328L
0.583
0.052
3.193L
7.582L
0.144L
6.431
4.534L
0.32
325
0.33
1.53
0.464L
0.533L
0.621
0.913
2.512L
7.275L
3.23L
0.259
5.731
3.503L
0.159
302
Figures in m. Earnings shown basic. Figures in light text are for corresponding period year earlier.
For more information on dividend payments visit www.ft.com/marketsdata
EPS(p)
1.29
1.11
0.13L
0.006L
0.7L
3.33
0.8
0.51L
0.011L
1.052L
12.5
0.09L
0.3
62.4
0.65
1.13
0.41L
0.009L
4.5
1.02
51.9L
1.18L
0.004L
1.89
8.5
0.37
0.2
59
Div(p)
0.9
6.25
28
0.6
5
27.5
Pay day
Nov 25
Oct 30
Nov 20
Total
0.9
3.8
16.95
41
0.6
1.2
15.7
40.25
Issue
date
Issue
price(p)
Sector
Stock
code
Stock
Close
price(p)
+/-
High
Low
Mkt
Cap (m)
25
FINANCIAL TIMES
MARKET DATA
FT500: THE WORLD'S LARGEST COMPANIES
Stock
Australia (A$)
ANZ
BHPBilltn
CmwBkAu
CSL
NatAusBk
Telstra
Wesfarmers
Westpc
Woolworths
Belgium ()
AnBshInBv
KBC Grp
Brazil (R$)
Ambev
Bradesco
Cielo
ItauHldFin
Petrobras
Vale
Canada (C$)
BCE
BkMontrl
BkNvaS
Brookfield
CanadPcR
CanImp
CanNatRs
CanNatRy
Enbridge
GtWesLif
ImpOil
Manulife
Potash
RylBkC
Suncor En
ThmReut
TntoDom
TrnCan
ValeantPh
China (HK$)
AgricBkCh
Bk China
BkofComm
BOE Tech
Ch Coms Cons
Ch Evrbrght
Ch Rail Cons
Ch Rail Gp
ChConstBk
China Vanke
ChinaCitic
ChinaLife
ChinaMBank
ChinaMob
ChinaPcIns
ChMinsheng
ChMrchSecs RMB
Chna Utd Coms RMB
ChShenEgy
ChShpbldng RMB
ChStConEng RMB
ChUncHK
CNNC Intl RMB
CSR
Daqin RMB
Gree Elec Apl
GuosenSec
HaitongSecs
Hngzh HikVDT
Hunng Pwr
IM Baotou Stl RMB
In&CmBkCh
IndstrlBk RMB
Kweichow RMB
Midea
New Ch Life Ins
PetroChina
PingAnIns
PngAnBnk RMB
Pwr Cons Corp RMB
SaicMtr RMB
ShenwanHong
ShgPdgBk RMB
Sinopec Corp
Sinopec Oil RMB
Denmark (kr)
DanskeBk
MollerMrsk
NovoB
52 Week
High
Low
Yld
P/E MCap m
26.99
22.80
71.60
89.24
29.80
5.62
38.18
29.97
24.38
-0.84
-1.06
-2.20
-1.09
-0.71
-0.05
-0.85
-1.14
-0.41
37.25
35.17
96.69
102.43
39.71
6.74
46.95
40.07
36.00
96.91
55.80
1.11
-0.39
119.65
66.00
78.75
36.53
19.17
24.30
36.89
24.85
8.26
18.90
-0.23
-0.80
-0.15
-0.73
-0.09
-0.56
20.29
33.23
46.27
32.66
21.15
28.74
53.91
69.95
57.51
41.03
187.83
94.11
25.87
73.39
51.71
32.10
41.43
20.45
27.93
71.74
34.08
53.18
51.19
43.70
289.76
0.16
-0.24
-0.62
0.04
-2.19
-0.13
-0.76
-1.28
-0.79
0.26
-1.18
-0.16
-1.41
-0.14
-0.47
0.68
-0.31
-1.22
2.59
60.20
84.39
71.25
48.64
247.56
107.32
44.51
88.89
66.14
37.70
55.76
24.20
47.10
83.87
42.47
54.47
57.89
60.84
347.84
46.43
64.01
52.60
32.21
172.01
83.10
25.01
68.81
47.43
29.30
40.55
18.91
27.88
68.05
30.89
39.45
47.75
41.95
125.50
2.97
3.39
5.43
1.77
9.83
3.43
11.18
7.15
5.31
4.61
27.15
18.32
95.40
29.10
7.21
16.16
6.08
12.10
10.33
6.10
9.83
9.41
9.75
9.06
0.22
11.66
3.72
4.55
14.23
194.72
1.96
34.45
5.58
39.35
10.70
7.71
16.55
0.19
14.95
4.95
10.19
-0.08
-0.10
-0.15
-0.01
-0.33
-0.50
-0.18
-0.13
-0.13
-0.65
-0.12
-1.55
-0.65
-0.28
-0.77
-0.22
-0.42
-0.32
-0.18
-0.41
-0.19
-0.33
-0.25
0.00
-0.48
-0.16
-0.13
-0.29
-4.55
0.03
-0.40
-0.22
-0.70
-0.26
-0.33
-0.84
0.00
-0.10
-0.20
-0.50
4.55
5.68
8.61
4.78
17.00
5.65
17.70
12.30
7.98
7.40
41.00
26.85
118.00
47.10
11.88
40.00
10.74
24.40
20.19
12.52
16.00
14.38
20.70
15.15
0.45
27.90
7.50
7.10
21.42
290.00
2.68
56.55
11.04
62.90
17.50
20.00
29.18
0.49
19.17
7.79
14.23
206.00 -1.60
10400 -80.00
371.30
5.80
218.00
16450
415.00
139.20
10380
244.50
Stock
FT 500: TOP 20
Week
change change %
3.29
47.7
1.04
12.4
2.85
9.0
0.29
8.5
0.66
6.8
3350.00
6.4
0.45
6.2
4.97
6.2
5.25
5.8
0.01
5.2
5.92
4.1
0.35
3.7
1.50
3.6
149.50
3.5
1.25
3.3
1100.00
3.3
42.00
3.3
121.50
2.9
161.00
2.9
0.75
2.9
Month
change %
16.59
-5.81
12.03
-15.07
-24.10
-9.22
-12.68
8.41
-4.89
1.83
8.22
8.45
7.23
-6.60
1.42
8.44
-6.07
-5.55
-6.91
-10.68
Current
0.00-0.14
3.25
0.75
0.05
0.50
0.00-0.03
0.00-0.25
P/E MCap m
2.18
2.41
4.32
2.84
2.05
3.24
2.63
8.24
0.92
0.92
5.77
0.90
1.80
2.26
4.24
1.91
2.83
1.71
3.22
1.53
3.61
3.01
6.12
4.19
3.27
9.22
15.81 46783.35
19.91 39130.87
10.53 58000.69
9.47 71041.2
11.62 32456.32
8.61 30747.01
37.60 40241.91
7.62 33364.72
38.59 25774.26
38.59 25774.26
46.56 46717.29
36.95 37220.97
28.63 90732.37
12.42 83576.6
-54.73 21888.82
37.28 40489.33
23.36 26889.44
7.25 21422.94
-21.35 31646.95
24.17 125362.48
27.18 25084.04
18.38 33687.16
9.77 34723.24
31.44 109314.16
13.19 24732.73
12.24 38338.26
85.44 32025.11
115.05
63.00
96.83
74.59
136.85
55.10
22.66
10.07
21.55
7.38
50.75
36.00
66.70
141.60
141.10
50.08
80.06
102.20
4.85
4.01
1.90
3.52
1.74
3.57
2.96
3.09
1.82
1.04
0.67
1.63
2.13
4.34
1.88
4.06
3.91
9.62 69650.66
12.72 68195.45
27.96 105619.58
10.10 53533.2
14.85 40368.55
9.10 79195.11
21.29 37646.17
38.60 80477.52
15.77 31458.61
-5.72 16638.96
23.64 24745.9
30.70 38863.63
19.91 22222.47
26.03 29590.71
9.46 31831.88
22.77 77426.74
11.61 78874.27
5.59 39103.69
39.10
23.15
19.80
50.10
11.64
13.82
97.50
7.60
123.20
162.00
29.95
25.10
93.25
104.50
1.04
4.60
2.28
1.48
2.41
3.49
6.83
3.79
2.10
2.94
7.31
3.18
0.27
19.26 64824.06
9.94 32127.4
6.64 29708.75
12.45 28511.64
6.87 52850.03
6.62 4221.49
4.13 50549.02
7.19 46375.31
10.57 35276.35
32.52 28398.37
13.11 26075.1
14.82 27434.9
9.64 38157.85
38.95 158783.55
332.50
842.10
707.15
975.00
247.70
932.65
294.00
1401
221.25
796.45
220.15
748.00
2345
1.02
0.77
1.48
1.23
3.64
3.35
1.68
0.97
4.23
1.14
1.47
0.17
1.55
23.89
26.68
42.61
21.08
12.04
19.87
28.20
24.56
10.19
10.60
10.37
30.70
24.73
11000
186.40
52 Week
High
Low
Yld
P/E MCap m
Japan ()
AstellasPh
1650 -17.00
2047
1482 1.77 25.84 30561.53
Bridgestne
4247.5 -80.00
5182
3328 2.75 11.30 28791.23
Canon
3600 -78.00
4539
3172 4.32 17.79 40027.91
CntJpRwy
18715 -870.00 24800 13320 0.62 13.63 32139.47
Denso
5635 -77.00
6548 4500.5 1.90 17.18 41529.97
EastJpRwy
10150 -275.00 12815
7623 1.15 21.23 33211.41
Fanuc
20200 -585.00 28575 17635 3.06 19.08 34679.94
FastRetail
46160-1245.00 61970 35655 0.70 39.84 40818.31
Fuji Hvy Ind
4386 -39.00 4827.5
3050 1.51 11.99 28624.48
Hitachi
641.70 -9.90 939.90 620.00 1.67 11.44 25856.66
HondaMtr
3799 -54.50
4499
3239 2.25 13.05 57368.32
JapanTob
4009.5 -161.50
4848
3101 2.62 16.90 66850.06
KDDI
2747.5 115.50
3375
2041 2.00 46.14 61633.29
Keyence
55710 -940.00 70100 42660 0.38 26.56 28237.88
MitsbCp
2127.5 -81.00
2837 1942.5 2.74 9.72 28201.32
MitsubEst
2419 -59.50
2975 2151.5 0.56 48.56 28038.61
MitsubishiEle
1169 -29.00
1718
1103 2.43 10.18 20925.17
MitsuiFud
3186 -62.00
3879 2854.5 0.76 26.99 26332.2
MitUFJFin
744.00 -24.30 936.80 546.20 2.35 6.92 87879.91
Mizuho Fin
233.40 -4.40 280.40 178.10 3.38 7.06 48295.69
Murata Mfg
16645 -740.00 22220 10800 1.14 20.00 31257.66
NipponTT
4333 -57.50
5066 3001.5 2.02 16.94 82119.28
Nissan Mt
1140 -28.00
1350 917.40 2.81 9.87 42962.89
Nomura
733.00 -21.70 909.20 576.20 1.72 10.26 23358.23
Nppn Stl
237.00 -10.80 350.50 227.10 2.26 9.32 18775.88
NTTDCMo
2200 -17.00 2873.5 1612.5 2.87 20.32 74933.92
Panasonic
1326.5 -29.00 1853.5
1130 1.06 56.19 27126.63
Seven & I
5158 92.00
5998 3794.5 1.40 26.28 38116.53
ShnEtsuCh
6387 -204.00
8529
6059 1.52 20.99 23007.51
Softbank
6270 26.00
8760
6001 0.62 9.34 62758.04
Sony
3115 -109.50
3970
1782 0.78 -52.20 32777.12
SumitomoF
4699.5 -154.50
5770
3823 2.90 10.16 55398.73
Takeda Ph
5642 -64.00
6657 4337.5 3.10 -29.51 37163.75
TokioMarine
4416 -174.50
5504
3102 2.09 13.91 27887.36
Toyota
7234 -104.00
8783
5710 2.69 10.52 206125.59
Mexico (Mex$)
AmerMvl
14.46 -0.25 17.37 13.48 1.90 36099.98
FEMSA UBD 154.36
3.02 155.65 116.20 0.75 29.05 32437.34
WalMrtMex
40.65 -0.18 41.90 28.26 1.37 30.80 41735.91
Netherlands ()
Altice
21.41 -1.25 143.20 20.61 - -123.60 17879.48
ASML Hld
75.40 -2.20 104.85 68.29 0.90 25.09 36414.49
Heineken
72.50
0.56 77.77 54.03 1.30 25.98 46541.9
ING
12.53 -0.05 16.00
9.68 27.48 54035.58
Unilever
34.75 -0.09 42.75 28.75 3.22 21.19 66400.17
Norway (Kr)
DNB
111.60 -1.30 143.00 100.90 3.48 8.04 21895.47
Statoil
119.70 -0.70 180.20 113.90 6.15 -9.50 45975.16
Telenor
159.20 -1.20 186.10 128.90 2.44 22.32 28792.45
Qatar (QR)
QatarNtBk
185.00 -1.60 237.00 159.90 3.96 12.09 35546.08
Russia (RUB)
Gzprm neft
134.30 -2.10 166.94 113.73 6.11 7.05 48449.03
Lukoil
2203 -22.90 3297.7
1913 3.11 11.59 28554.03
MmcNrlskNckl
10200 -493.00 12247
6766 13.24 12.57 24596.75
Novatek
612.50
8.50 646.30 392.51 9.68 30.49 28339.88
Rosneft
237.00 -7.80 294.20 183.95 6.28 6.82 38275.96
Sberbank
73.74 -0.65 80.98 47.21 5.13 24257.25
Surgutneftegas
33.15 -0.72 39.80 21.82 2.07 1.26 18047.34
Saudi Arabia (SR)
AlRajhiBnk
55.99
0.62 72.50 48.40 3.35 14.12 24259.43
Natnlcombnk
53.36
0.55 72.75 48.80 12.70 28378.91
SaudiBasic
77.66
0.87 135.00 70.25 6.65 9.81 62120.55
SaudiTelec
63.00
0.75 76.50 52.75 5.76 12.02 33595.96
Singapore (S$)
DBS
16.90 -0.31 21.50 16.90 3.52 18.41 29685.97
JardnMt US$
47.33 -0.27 67.88 45.02 2.91 10.51 33068.13
JardnStr US$
27.15 -0.10 37.03 26.11 0.96 9.94 30410.78
OCBC
8.91 -0.17 10.92
8.63 4.14 8.50 25321.9
SingTel
3.70 4.57
3.58 4.65 14.83 41393.03
UOB
18.97 -0.07 25.05 18.51 3.78 9.42 21327.75
South Africa (R)
Firstrand
51.29 -0.39 58.47 40.27 3.95 12.22 20879.64
MTN Grp
177.65
2.05 250.48 161.10 7.70 9.69 23792.73
Naspers N
1716.81 30.16 2029.97 1130.01 0.29 42.51 52259.33
South Korea (KRW)
HyundMobis 212500-5500.00 271500 185500 1.46 10.31 17040.89
KoreaElePwr
48300-1400.00 53100 38750 1.0798592.74 26026.66
SK Hynix
34700 -200.00 51700 30300 0.89 5.23 21204.23
SmsungEl
1131000-14000.00 1510000 1033000 1.87 8.38 122762.08
Spain ()
BBVA
7.41 -0.09
9.77
7.21 1.05 11.54 52071.68
BcoSantdr
4.77 -0.10
7.77
4.77 12.14 10.26 76109.8
CaixaBnk
3.43 -0.09
4.93
3.43 1.13 22.34 22024.99
Iberdrola
5.82 6.49
5.11 2.58 15.35 41082.37
Inditex
29.30 -0.08 32.54 19.29 1.33 34.43 101774.18
Repsol
10.03 -0.16 19.09 10.03 14.10 15366.99
Telefonica
10.87 -0.09 14.31 10.76 3.56 17.29 58902.75
39.64
87.17
16.43
43.14
126.10
9.82
49.84
16.10
76.65
76.65
16.08
229.00
117.05
121.40
21.87
10.20
82.23
49.50
43.66
69.58
29.51
51.13
31.85
36.92
180.70
39.65
17.32
3.36
12.98
14.40
2.00
34.74
4.82
Stock
20446.9
39977.2
25713.38
27831.12
24030.26
38621.15
38392.37
21065.98
30635.84
41686.3
27471.35
32666.84
75094.95
40557.9
56866.42
27397.89
54074.11
32191.52
36577.43
Last
0.14
3.25
0.75
0.15
0.50
0.03
0.00-0.75
Mnth Ago
0.00-0.25
3.25
0.75
0.05
0.50
0.00-0.10
0.00-0.25
Year Ago
0.00-0.25
3.25
0.75
0.25
0.50
0.00-0.10
0.00-0.25
Day
0.000
0.000
0.000
Change
Week
-0.001
0.000
-0.001
Month
0.001
0.000
-0.001
0.000
0.000
0.001
0.000
0.000
0.000
One
month
0.19560
-0.11571
0.50694
-0.79400
0.02929
-0.10300
0.51000
0.18000
-0.13500
Three
month
0.32650
-0.04071
0.58375
-0.72700
0.07786
-0.03900
0.60000
0.30000
-0.06500
Six
month
0.52725
0.02000
0.74625
-0.67300
0.11929
0.03400
0.78500
0.49000
-0.00500
One
year
0.84155
0.13600
1.04650
-0.55900
0.23257
0.15000
Short
7 Days
One
Three
Six
One
Sep 23
term
notice
month
month
month
year
Euro
-0.25 -0.10 -0.20 -0.10 -0.21 -0.06 -0.15 0.00 -0.08 0.07 0.07 0.22
Sterling
0.40 0.55 0.40 0.55 0.46 0.56 0.55 0.65 0.71 0.86 1.03 1.18
Swiss Franc
Canadian Dollar
US Dollar
0.12 0.22 0.12 0.22 0.15 0.25 0.25 0.35 0.50 0.60 0.80 0.90
Japanese Yen
-0.10 0.00 -0.15 -0.05 -0.35 -0.10 -0.20 0.00 -0.15 0.05 -0.05 0.15
Libor rates come from ICE (see www.theice.com) and are fixed at 11am UK time. Other data sources: US $, Euro & CDs:
Tullett Prebon; SDR, US Discount: IMF; EONIA: ECB; Swiss Libor: SNB; EURONIA, RONIA & SONIA: WMBA.
COMMODITIES
Energy
Price*
Crude Oil
Oct
44.71
Brent Crude Oil
47.81
RBOB Gasoline
Sep
1.39
Heating Oil
Oct
1.53
Natural Gas
Sep
2.57
Ethanol
Uranium
Oct
36.75
Carbon Emissions
Diesel
Dec
121.25
Unleaded
Oct
Base Metals ( LME 3 Months)
Aluminium
1574.00
Aluminium Alloy
1700.00
Copper
5057.50
Lead
1690.00
Nickel
9725.00
Tin
14930.00
Zinc
1645.50
Precious Metals (PM London Fix)
Gold
1131.35
Silver (US cents)
1480.00
Platinum
937.00
Palladium
632.00
Bulk Commodities
Iron Ore (Platts)
57.05
Iron Ore (The Steel Index)
56.80
GlobalCOAL RB Index
51.00
Baltic Dry Index
917.00
www.ft.com/commodities
Change
-1.41
-1.38
-0.03
0.00
-0.01
0.00
0.00
-13.00
0.00
-17.50
7.00
75.00
215.00
23.00
8.45
-14.00
-9.00
37.00
-0.60
-0.30
-0.10
-6.00
Oct
Nov
Oct
Oct
Oct
Oct
Price*
383.00
507.00
863.00
303.00
2253.00
3307.00
1540.00
115.60
341.50
11.56
58.51
110.80
515.25
133.23
182.38
70.60
Change
3.00
12.25
0.75
-1.70
18.00
9.00
29.00
0.45
1.20
0.61
-0.06
-6.20
5.75
-2.23
-4.25
-0.40
Sep 22
357.92
87.19
192.90
2293.18
264.84
13.25
7.51
0.50
3695.00
% Chg
Month
-0.70
-1.56
0.55
5.79
0.38
-0.27
2.04
188.90
% Chg
Year
-30.70
-34.70
-31.24
30.84
284.62
-6.05
Dec
Dec
Nov
Oct
Dec
Dec
Nov
Dec
Sources: NYMEX, ECX/ICE, CBOT, X ICE Liffe, ICE Futures, CME, LME/London Metal Exchange.* Latest prices, $
unless otherwise stated.
Stock
52 Week
High
Low
Yld
P/E MCap m
Sweden (SKr)
AtlasCpcoB
185.50 -0.50 270.00 165.20 1.59 17.54 8584.23
Ericsson
78.90
0.50 120.00 77.45 4.24 25.54 30924.12
H&M
310.40
3.30 368.50 269.60 3.09 24.16 60923.86
Investor
289.70
1.40 363.40 219.30 3.06 4.28 26356.74
Nordea Bk
94.15 -1.25 115.50 82.40 5.99 10.80 45013.9
SEB
91.30 -1.60 111.50 82.30 5.12 10.34 23495.43
SvnskaHn
121.20 -1.90 426.00 114.10 3.38 15.88 26903.5
Swedbank
186.40 -3.10 223.90 166.20 5.99 12.91 24435.17
TeliaSonera
45.31
0.03 55.85 44.37 6.52 14.26 23266.93
Volvo
83.90
1.40 120.50 71.00 3.52 21.81 16146.28
Switzerland (SFr)
ABB
17.03 -0.16 22.31 16.75 16.02 40243.04
CredSuisse
23.93 -0.19 28.94 18.57 2.97 10.37 40025.33
Nestle
71.70 -0.25 77.00 64.15 2.89 16.46 233380.93
Novartis
90.35
0.40 103.20 78.60 2.86 23.71 246915.74
Richemont
74.10
0.50 92.25 66.40 1.69 29.10 39487.72
Roche
248.50 -0.70 295.80 238.80 3.27 23.59 178231.67
Swiss Re
82.60
0.25 96.95 69.25 5.19 35.49 31259.65
Swisscom
479.00
2.40 587.50 475.50 4.66 14.56 25331.15
Syngent
315.90 -6.30 435.20 273.20 3.43 18.76 29974.51
UBS
17.95 -0.29 22.57 13.58 4.24 13.94 70532.68
Zurich Fin
242.10 -1.10 334.60 239.50 10.01 37172.22
Taiwan (NT$)
Chunghwa Telecom
97.70 -0.60 99.80 90.00 4.77 19.55 23088.1
HonHaiPrc
84.10 -1.00 102.50 77.90 1.87 8.72
40974
TaiwanSem
124.50 -4.50 155.00 112.50 6.21 10.27 98345.38
Thailand (THB)
PTT Explor
252.00
2.00 398.00 240.00 3.60 15.89 19894.61
United Arab Emirates (Dhs)
Emirtestele
14.30
0.10 15.85
9.41 4.56 15.29 33864.64
United Kingdom (p)
AscBrFd
3140 40.00
3293
2407 1.08 44.00 37859.53
AstraZen
4224 58.50 4931.68
3746 4.23 71.22 81301.21
Aviva
442.80
1.40 578.68 440.00 4.09 11.59 27284.19
Barclays
248.20
1.55 289.90 204.05 2.62 115.07 63439.14
BG
969.20 15.00
1420 780.55 1.89 -48.88 50448.15
BP
329.45
4.25 499.25 252.55 7.84 -14.96 91864.86
BrAmTob
3514.5 55.50
3894 3231.5 4.21 16.32 99782.69
BSkyB
850.50 -12.00 954.00 782.50 3.76 9.03 23005.52
BT
412.15
8.15 481.75 351.90 2.77 15.53 52540.8
Compass
1025 13.00 1223.36 924.41 2.64 19.90 25722.32
Diageo
1733 16.50
2055 1592.5 3.09 18.32 66351.34
GlaxoSmh
1274 27.00
1645 1241.5 6.28 6.41 94427.28
Glencore
109.10
2.75 350.25 99.59 10.49-253.72 23918.16
HSBC
498.75 11.35 674.57 478.35 6.51 11.25 148590.32
ImpTob
3399 79.00
3413 2482.72 3.77 17.02 49545.42
LlydsBkg
72.95
0.65 89.35 70.90 1.03 39.65 79388.27
Natl Grid
862.00 10.40 965.00 806.40 4.90 16.15 49145.27
Prudential
1366.5 15.00 1761.5
1287 2.70 13.91 53508.54
RBS
313.30
2.00 414.00 300.30 - -21.85 30889.23
ReckittB
5850 147.00
6300
4895 2.38 24.86 63342.71
RELX
1070 18.00
1199 921.50 2.33 100.69 33632.03
RioTinto
2222 28.00
3280 2107.78 6.14 22.11 47040.23
RollsRoyce
679.50 -6.00
1061 679.50 3.40 -49.97 19027.75
RylDShlA
1561 25.50 2401.5
1526 7.77 11.57 93714.24
SABMill
3567.5 99.00 3787.5
2773 1.98 26.02 87941.29
Shire
4670 127.00
5870 3448.28 0.30 14.14 42107.24
StandCh
667.80 -5.20
1222 667.30 8.27 14.86 25903.86
Tesco
168.55
0.35 252.52 155.40 6.70 -2.40 20887.54
Vodafone
216.00
4.10 258.00 179.10 5.13 10.08 87332.5
WPP
1349 19.00
1616
1091 2.83 13.94 26566.21
United States of America ($)
3M
137.66 -0.36 170.50 130.60 2.65 18.56 86002.45
AbbottLb
42.20 -0.28 51.74 39.28 2.11 27.68 62896.63
Abbvie
57.43 -0.31 71.60 52.06 3.10 46.00 95062.52
Accenture
97.86
0.19 105.37 73.98 2.08 22.16 78051.27
Ace
101.34
0.36 117.89 96.00 3.12 11.77 32814.4
Actavis
298.98 -2.94 317.72 201.91 - -34.92 117333.1
Adobe
85.50
0.84 87.25 58.51 - 119.14 42548.68
AEP
55.02
0.30 65.38 51.58 3.68 15.97 26990.59
Aetna
118.82
0.70 134.40 71.81 0.77 18.60 41431.13
Aflac
57.42
0.38 65.10 51.41 2.60 9.96 24730.46
AirProd
130.48 -2.14 158.20 118.20 2.35 28.22 28050.91
Alexion
159.63
0.39 208.88 150.06 56.30 36101.06
Allstate
58.51
0.41 72.87 54.12 1.92 10.16 23426.81
Altria
54.40
0.20 56.70 44.59 3.70 21.73 106661.81
Amazon
536.07 -2.33 580.57 284.00 - -1369.21 250725.42
AmerAir
41.24
0.05 56.20 28.10 0.94 7.36 27705.88
AmerExpr
75.63 -0.08 94.89 71.71 1.70 13.61 75727.06
AmerIntGrp
57.10 -0.18 64.93 48.56 0.85 11.59 73880.94
AmerTower
88.71 -0.34 105.20 87.95 1.75 55.07 37549.08
Amgen
145.72 -0.21 181.81 127.67 1.86 19.94 110492.24
Anadarko
63.18 -1.63 105.23 58.10 1.66 -13.16 32096.21
Aon Cp
89.09 -0.44 107.08 78.26 1.14 21.00 24949.02
Apple
114.32
0.92 134.54 92.00 1.63 13.65 651935.18
ArcherDan
42.06 -0.39 53.91 41.63 2.39 11.98
25612
AT&T
32.20 -0.07 36.45 30.97 5.62 32.92 198062.2
AutomData
79.37
0.18 90.23 64.29 2.38 28.36 36971.35
Avago Tech 125.54
0.84 150.50 68.75 1.13 34.10 34568.85
52 Week
High
Low
Yld
P/E MCap m
1.22
1.23
5.63
2.72
1.63
1.70
2.62
2.41
2.31
0.97
1.71
1.67
1.94
3.86
1.39
0.82
5.45
0.03
3.09
0.15
2.06
3.17
2.28
1.60
5.91
2.54
1.01
3.54
2.40
1.20
0.53
3.01
1.31
0.75
1.87
1.73
3.49
3.71
4.46
3.84
3.85
1.11
1.87
4.08
0.83
2.80
4.14
3.75
0.59
3.89
1.47
1.86
3.51
2.90
4.11
0.39
1.30
1.79
2.51
1.78
2.05
0.58
3.10
2.26
0.87
3.13
1.11
2.97
2.42
2.62
3.09
6.00
2.45
0.97
1.78
5.33
2.21
2.78
1.38
93.58 23537.65
17.31 164091.96
11.70 19508.47
13.14 25840.52
35.74 29284.23
18.38 157869.3
20.85 70160.39
15.98 42955.02
15.80 49624.39
18.47 89469.12
59.64 102951.62
30.37 29112.72
10.73 39868.53
23.47 26978.06
28.13 30523.44
12.40 42304.8
18.50 18518.5
45.75 92524.82
30.80 37468.97
12.13 143237.64
18.26 36747.16
14.84 127949.49
12.41 150853.45
26.64 30816.86
23.48 168606.14
25.91 37943.2
25.75 55898.17
17.51 122263.38
36.66 59033.33
8.63 20558.93
27.95 63914.69
52.35 25642.93
13.68 26260.55
24.98 112150.75
24.36 58554.42
12.22 25495.24
17.04 21070.24
21.25 37057.61
16.82 47176.52
11.07 22566.3
21.80 171435.73
24.44 41138.96
12.93 49311.98
21.23 47556.75
14.77 43350.79
11.69 24478.3
11.04 31174.46
27.96 32471.95
19.99 45846.98
12.53 28697.31
29.82 40111.48
31.67 26527.03
11.07 25004.15
28.28 56288.39
13.28 301451.14
99.16 212347.44
38.17 40563.81
15.30 53310.77
10.41 23042.73
16.31 44074.85
50.43 253824.23
29.14 34429.16
11.32 47018.92
11.50 154817.7
10.97 77661.39
33.54 189379.8
22.56 31882.14
17.80 34942.56
10.64 45836.75
36.55 23066.85
23.22 149174.28
17.51 73946.91
23.05 27965.17
9.88 140719.26
17.28 30462.23
59.95 27482.87
24.28 25331.71
12.59 136629.96
61.89 24145.84
16.91 257499.19
15.19 26149.7
11.30 224250.8
62.97 39290.7
42.10 63697.69
45.49 52233.16
19.01 17670.19
24.46 26703.22
14.55 33309.54
-30.93 12208.76
46.48 96099.38
18.60 62967.09
23.79 64103.49
Stock
BakerHu
BankAm
Baxter
BB & T
BectonDick
BerkshHat
Biogen
BkNYMeln
BlackRock
Boeing
BrisMySq
Broadcom
CapOne
CardinalHlth
Carnival
Caterpillar
CBS
Celgene
CharlesSch
ChevrnTx
Cigna
Cisco
Citigroup
CME Grp
Coca-Cola
Cognizant
ColgtPlm
Comcast
ConocPhil
Corning
Costco
CrownCstl
CSX
CVS
Danaher
Deere
Delphi
Delta
DirectTV
DiscFinServ
Disney
DominRes
DowChem
DukeEner
DuPont
Eaton
eBay
Ecolab
EMC
Emerson
EOG Res
EquityResTP
Exelon
ExpScripts
ExxonMb
Facebook
Fedex
FordMtr
Franklin
GenDyn
GenElectric
GenMills
GenMotors
GileadSci
GoldmSchs
Google
Halliburton
HCA Hold
Hew-Pack
HiltonWwde
HomeDep
Honywell
HumanaInc
IBM
IllinoisTool
Illumina
Intcntl Exch
Intel
Intuit
John&John
JohnsonCn
JPMrgnCh
Kimb-Clark
KinderM
Kraft
Kroger
L Brands
LasVegasSd
LibertyGbl
Lilly (E)
Lockheed
Lowes
Close
Prev
price
price
DirectTV
93.55
92.19
Firstrand
51.29
51.68
Naspers N
1716.81
1686.65
MTN Grp
177.65
175.60
Volkswgn
111.20
111.20
Glencore
109.10
106.35
VertexPharm
111.86
114.41
Renault
65.00
66.55
LasVegasSd
41.77
43.42
Potash
29.34
29.34
Repsol
10.03
10.19
Altice
21.41
22.65
Daimler
66.25
66.25
Petrobras
8.35
8.35
Lukoil
2203.00
2225.90
Hew-Pack
25.49
25.65
NTTDCMo
2200.00
2217.00
BMW
79.32
79.32
Zurich Fin
242.10
243.20
Schneider
51.44
51.45
Based on the FT Global 500 companies in local currency
Day
Week
change change %
change change %
1.36
1.48
-0.39
-0.75
-5173.71
-99.0
30.16
1.79 -171782.19
-99.0
2.05
1.17 -17763.35
-99.0
0.00
0.00
-56.30
-33.6
2.75
2.59
-25.60
-19.0
-2.55
-2.23
-21.80
-16.3
-1.55
-2.33
-11.03
-14.5
-1.65
-3.80
-6.94
-14.2
0.00
0.00
-4.28
-12.7
-0.16
-1.57
-1.46
-12.7
-1.25
-5.50
-2.93
-12.0
0.00
0.00
-9.05
-12.0
0.00
0.00
-1.13
-11.9
-22.90
-1.03
-272.00
-11.0
-0.16
-0.62
-2.98
-10.5
-17.00
-0.77
-242.50
-9.9
0.00
0.00
-8.10
-9.3
-1.10
-0.45
-24.60
-9.2
-0.01
-0.02
-5.21
-9.2
Month
change %
0.42
0.25
5.91
-2.39
-29.01
-31.19
-10.85
-12.10
-12.96
-15.36
-25.43
-12.44
-11.79
-10.22
-8.67
-7.21
-19.94
-8.73
-11.43
-8.09
BOND INDICES
Since
16-12-2008
16-12-2008
18-02-2010
10-09-2014
05-03-2009
05-10-2010
03-08-2011
5.65
34.77
Yld
FT 500: BOTTOM 20
Day
change change %
-0.50
-4.68
-0.19
-1.98
-0.40
-1.15
-0.16
-4.12
-0.32
-3.00
-940.00
-1.66
-0.33
-4.10
0.84
0.99
-1.55
-1.60
0.00
-1.77
0.00
0.00
-0.33
-3.27
0.69
1.63
-39.00
-0.88
-0.70
-1.75
-200.00
-0.57
-29.00
-2.14
-80.00
-1.85
-77.00
-1.35
-0.80
-2.95
Close
Prev
price
price
Sinopec Oil
10.19
10.69
CNNC Intl
9.41
9.60
New Ch Life Ins
34.45
34.85
IM Baotou Stl
3.72
3.88
ChShpbldng
10.33
10.65
Keyence
55710.00 56650.00
Pwr Cons Corp
7.71
8.04
Adobe
85.50
84.66
ChinaMob
95.40
96.95
Gree Elec Apl
0.22
0.23
FEMSA UBD
151.34
151.34
CSR
9.75
10.08
T-MobileUS
43.03
42.34
Fuji Hvy Ind
4386.00
4425.00
PingAnIns
39.35
40.05
SK Hynix
34700.00 34900.00
Panasonic
1326.50
1355.50
Bridgestne
4247.50
4327.50
Denso
5635.00
5712.00
SandsCh
26.35
27.15
Based on the FT Global 500 companies in local currency
Sep 23
US
US
US
Euro
UK
Japan
Switzeland
52 Week
High
Low
Finland ()
Nokia
6.19 -0.11
7.87
SampoA
43.01 -0.14 49.40
France ()
Airbus Grpe
53.29
0.19 67.88
AirLiquide
102.05 123.95
AXA
21.29
0.06 25.24
BNP Parib
51.15 -0.72 61.00
ChristianDior 160.25 -0.30 195.35
Cred Agr
10.46 -0.28 14.49
Danone
55.13
0.60 67.74
EDF
16.10 -0.10 26.12
Essilor Intl
107.00
0.20 121.10
Esslr Intl
107.00
0.20 121.10
GDF Suez
17.56
0.67 20.57
Hermes Intl
316.35 -1.55 365.55
LOreal
145.45 -0.10 181.30
LVMH
147.60
0.20 176.60
Nmrcble-SFR
44.82
0.19 60.01
Orange
13.72
0.07 16.45
PernodRic
90.90
0.39 117.75
Renault
65.00 -1.55 100.25
Safran
68.09 -0.04 71.35
Sanofi
85.70
0.21 101.10
Sant Gbn
39.22 -0.42 44.84
Schneider
51.44 -0.01 75.29
SocGen
38.65 -0.73 48.77
Total
40.63
0.87 51.74
UnibailR
225.00
3.95 262.00
Vinci
57.46 -0.06 60.35
Vivendi
21.01
0.14 24.83
Germany ()
Allianz
136.75
1.05 170.15
BASF
66.62
0.17 97.22
Bayer
114.60
0.40 146.45
BMW
79.79
0.47 123.75
Continental
181.10
1.30 234.25
Daimler
66.42
0.17 96.07
Deut Bank
24.49 -0.19 33.42
Deut Tlkm
15.68
0.06 17.63
DeutsPost
23.31
0.01 31.19
E.ON
7.46
0.06 15.46
Fresenius Med
71.37
0.76 82.32
Fresenius SE
63.99
0.27 66.56
HenkelKgaA
76.75 -0.26 99.44
Linde
142.95
1.35 195.55
MuenchRkv
165.15
1.90 206.50
SAP
56.55 70.81
Siemens
80.33
0.15 106.35
Volkswgn
118.90
7.70 254.50
Hong Kong (HK$)
AIA
41.70 -0.85 58.20
BOC Hold
23.55 -0.50 33.70
Ch OSLnd&Inv
23.35 -1.20 34.05
ChngKng
57.25 -1.70 77.55
Citic Ltd
14.08 -0.36 16.40
Citic Secs
14.36 -0.66 40.50
CK Hutchison 101.50 -1.70 174.90
CNOOC
8.05 -0.39 14.22
HangSeng
143.00 -4.00 162.10
HK Exc&Clr 183.80 -2.80 311.40
MTR
34.55 -1.35 40.00
SandsCh
26.35 -0.80 49.30
SHK Props
102.80 -2.20 137.60
Tencent
130.90 -1.50 171.00
India (Rs)
Bhartiartl
337.90 -5.90 452.45
HDFC Bk
1049.2 18.55
1128
Hind Unilevr 785.00 -0.90 981.00
HsngDevFin 1165.95 -2.65 1402.3
ICICI Bk
273.35
2.80 393.40
Infosys
1116.25
8.80
2336
ITC
316.10
3.95 409.95
L&T
1495.3 10.35 1893.8
OilNatGas
236.55
2.05 429.00
RelianceIn
850.35
2.45 1067.85
SBI NewA
239.85
1.90 336.00
SunPhrmInds 896.75 -3.85 1200.8
Tata Cons
2532.65
5.85 2839.7
Indonesia (Rp)
Bk Cent Asia
11875 -275.00 15600
Israel (ILS)
TevaPha
249.40
3.20 275.90
Italy ()
Enel
3.87
0.06
4.50
ENI
14.04
0.19 18.90
Generali
15.79 -0.07 19.21
IntSPaolo
3.06 -0.01
3.65
Luxottica
59.75
0.65 67.80
Unicred
5.50 -0.07
6.61
4.85 17.79
4.56 10.80
5.82 10.94
1.40 9.71
0.77 19.73
4.43 10.57
3.63 17.39
1.58 17.65
3.25 211.62
4.07 11.52
1.24 15.92
3.20 12.99
6.59 12.02
4.22 10.99
3.39 34.52
3.22 16.98
3.82 12.33
4.83 16.79
93.32
Bid
yield
Mth's Spread
chge
vs
yield
US
Sep 23
High Yield US$
Windstream Services, LLC
S*
F*
Bid
price
11/17
7.88
BB-
B2
BB
104.60
5.60
0.00
-0.64
4.95
02/17
6.88
Caa1
97.50
0.00
0.00
Emerging US$
Peru
Mexico
Brazil
Russia
Peru
Brazil
Turkey
Poland
Colombia
Turkey
05/16
09/16
01/18
07/18
03/19
01/21
03/21
04/21
07/21
04/26
8.38
11.40
8.00
11.00
7.13
7.88
5.63
5.13
4.38
4.25
BBB+
BBB+
BB+
BB+
BBB+
BB+
ABBB
-
A3
A3
Baa3
Ba1
A3
Baa3
Baa3
A2
Baa2
Baa3
BBB+
BBB+
BBB
BBBBBB+
BBB
BBBABBB
BBB-
104.23
110.13
105.80
120.27
116.35
96.44
105.62
112.44
102.63
92.93
1.34
0.89
5.27
3.45
2.27
5.74
4.51
2.72
3.90
5.19
0.00
0.07
0.13
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-0.28
0.16
1.06
-0.72
-0.22
1.07
0.01
-0.07
-0.19
-0.01
0.70
0.24
4.62
2.80
0.83
4.29
3.07
1.28
2.45
3.05
Emerging Euro
Brazil
02/15
7.38
BBBBaa2
BBB 111.75
0.73
0.00
0.00
0.09
Mexico
07/17
4.25
BBB+
A3
BBB+ 111.13
1.50
0.00
0.00
0.85
Mexico
02/20
5.50
BBB+
BBB+ 109.34
3.19
0.00
-0.09
1.74
Bulgaria
09/25
5.75
BB+
BBB- 114.34
4.04
0.00
0.05
1.89
Data provided by SIX Financial Information & Tullett Prebon Information. US $ denominated bonds NY close; all other
London close. *S - Standard & Poors, M - Moodys, F - Fitch.
VOLATILITY INDICES
Index
Day's
change
Markit IBoxx
ABF Pan-Asia unhedged
Corporates( )
Corporates($)
Corporates()
Eurozone Sov()
Gilts( )
Global Inflation-Lkd
Markit iBoxx Non-Gilts
Overall ($)
Overall( )
Overall()
Treasuries ($)
169.25
294.26
251.12
210.09
224.04
289.78
245.54
295.04
226.32
288.66
219.65
218.00
-0.64
-0.25
0.36
-0.10
-0.02
-0.26
-0.01
-0.22
0.42
-0.25
-0.05
0.54
-0.62
0.60
0.88
-0.08
1.21
0.92
-0.04
0.63
0.59
0.83
0.80
0.50
-5.07
0.25
0.26
-1.23
1.07
1.45
-2.12
0.53
0.96
1.17
0.53
1.36
-0.80
-0.68
0.88
-0.84
0.16
-0.38
-2.23
-0.61
0.59
-0.45
-0.09
0.50
-5.72
4.57
0.26
0.23
4.18
8.56
-2.39
5.00
0.96
7.44
3.02
1.36
FTSE
Sterling Corporate ()
Euro Corporate ()
Euro Emerging Mkts ()
Eurozone Govt Bond
110.91
106.00
804.45
113.43
-0.03
-0.17
-6.28
-0.03
-0.84
-1.28
-3.15
-0.15
0.33
-2.51
-13.39
1.32
Index
Day's
change
Week's
change
Month's
change
Series
high
Series
low
333.18
79.96
60.09
87.41
-3.63
-1.40
0.00
-1.64
-1.70
-
-9.66
-
336.81
81.36
69.98
89.06
310.39
76.52
48.09
84.55
CREDIT INDICES
Markit iTraxx
Crossover 5Y
Europe 5Y
Japan 5Y
Senior Financials 5Y
Month's
change
Year
change
Return
1 month
Return
1 year
Markit CDX
Emerging Markets 5Y
361.58
12.80
0.00
0.00
361.58
348.78
Nth Amer High Yld 5Y
398.55
12.47
13.47
-24.69
426.92
337.73
Nth Amer Inv Grade 5Y
83.27
1.94
0.00
0.00
83.27
81.33
Nth AmerHiVol 5Y
228.00
128.00
0.00
0.00
228.00
100.00
Websites: markit.com, ftse.com. All indices shown are unhedged. Currencies are shown in brackets after the index names.
BONDS: INDEX-LINKED
Price
Month
Value
No of
Yield
Sep 22
Sep 22
Prev
return
stock
Market
stocks
Can 4.25%' 21
129.43
-0.436
-0.391
0.54
5.18
70808.04
7
Fr 2.25%' 20
114.32
-0.655
-0.619
0.84
20.31 207411.72
14
Swe 0.25%' 22
108.01
-0.805
-0.775
0.55
30.88 217514.47
6
UK 2.5%' 16
UK 2.5%' 24
341.23
-0.823
-0.779
0.87
6.82 479903.40
25
UK 2%' 35
233.29
-0.798
-0.772
0.73
9.08 479903.40
25
US 0.625%' 21
101.61
0.344
0.376
0.05
35.84 1079836.57
36
US 3.625%' 28
132.88
0.858
0.376
-0.60
16.78 1079836.57
36
Representative stocks from each major market Source: Merill Lynch Global Bond Indices Local currencies. Total market
value. In line with market convention, for UK Gilts inflation factor is applied to price, for other markets it is applied to par
amount.
Spread Spread
vs
vs
Bund T-Bonds
Australia
2.75
2.15
0.60 Italy
Austria
0.89
0.29 -1.26 Japan
Belgium
0.91
0.31 -1.23 Netherlands
Canada
1.63
1.04 -0.51 Norway
Denmark
0.87
0.27 -1.28 Portugal
Finland
0.87
0.27 -1.27 Spain
France
0.98
0.38 -1.16 Switzerland
Germany
0.60
0.00 -1.55 United Kingdom
Greece
8.10
7.50
5.95 United States
Ireland
1.20
0.61 -0.94
Data provided by SIX Financial Information & Tullett Prebon Information
Bid
Yield
1.84
0.33
0.78
1.61
2.59
1.96
-0.02
1.80
2.14
Spread Spread
vs
vs
Bund T-Bonds
1.24
-0.27
0.18
1.01
1.99
1.36
-0.62
1.20
1.55
-0.31
-1.81
-1.37
-0.54
0.44
-0.18
-2.16
-0.35
0.00
Lyondell
Marathon Ptl
Marsh&M
MasterCard
McDonald's
McGraw Hill
McKesson
Medtronic
Merck
Metlife
Microsoft
Mnstr Bvrg
MondelezInt
Monsanto
MorganStly
MylanNV
Netflix
News Corp A
NextEraE
Nike
NorfolkS
Northrop
NXP
Occid Pet
Oracle
Pepsico
Perrigo
Pfizer
Phillips66
PhilMorris
PNCFin
PPG Inds
Praxair
Prec Cast
Priceline
ProctGmbl
Prudntl
PublStor
Qualcomm
Raytheon
Regen Pharm
ReynoldsAm
Salesforce
Schlmbrg
Shrwin-Will
SimonProp
SouthCpr
Starbucks
StateSt
Stryker
Sychrony Fin
Target
TE Connect
Telsa Mtrs
TexasInstr
TheTrvelers
ThrmoFshr
TimeWrnr
TimeWrnrC
TJX Cos
T-MobileUS
UnionPac
UPS B
USBancorp
UtdHlthcre
UtdTech
ValeroEngy
Verizon
VertexPharm
VF Cp
Viacom
Visa Inc
Walgreen
WalMartSto
Wellpoint
WellsFargo
Williams Cos
Yahoo
Yum!Brnds
Venezuela ()
Bco de Vnzla
Bco Provncl
Mrcntl Srvcs
83.20 -1.73
46.26
0.32
52.86 -0.04
92.14
0.07
97.38
0.18
91.13 -0.11
198.22 -0.76
69.29 -0.47
51.03
0.29
46.52
0.32
43.87 -0.03
134.36 -0.18
42.28
0.29
84.38 -2.12
32.32 -0.12
45.41 -1.24
98.07 -0.40
26.28 -0.07
96.98 -0.07
115.43 -0.54
76.34 -1.09
167.42 -0.21
85.57 -0.78
64.82 -0.94
35.99 -0.20
92.40
0.03
170.87 -1.10
32.62
0.36
77.85 -0.32
80.43 -0.34
87.95
0.16
89.94 -1.68
100.64 -2.79
229.12 -0.02
1275.99 -12.96
70.26
0.07
76.23
0.39
208.40
1.16
53.56 -0.38
104.77
1.12
536.50
6.32
42.94
0.40
71.99
0.34
71.94 -0.63
232.62 -4.63
183.50
0.26
26.37 -0.29
57.79
0.67
68.56 -0.05
98.59
0.03
31.06
0.48
78.76
0.71
58.81 -0.33
261.06
0.12
46.58 -0.03
99.08
0.10
124.62 -0.63
69.02 -0.37
188.30 -1.94
71.16 -0.06
43.03
0.69
85.68 -0.99
97.57 -0.94
41.06 -0.04
123.28
0.35
86.96 -1.24
59.82
0.60
43.98 -0.45
111.86 -2.55
70.43 -0.60
43.61 -0.53
70.95
0.70
87.44
0.73
63.72
0.13
128.71
0.94
50.78
0.09
42.47 -2.05
29.74 -0.66
78.92 -0.38
118.00
4000
-
5.00
-
Yld
P/E MCap m
113.65
60.38
59.99
99.18
101.88
109.13
243.61
79.50
63.62
58.23
50.05
155.83
48.58
126.00
41.04
76.69
129.29
39.27
112.64
117.72
117.64
176.83
114.00
95.15
46.71
100.76
215.73
36.46
84.85
90.25
100.52
118.95
133.77
245.05
1395
93.89
92.60
217.99
78.53
113.36
605.93
44.14
78.46
104.38
294.35
206.31
33.31
59.32
81.26
105.34
36.40
85.81
73.73
286.65
59.99
110.49
141.25
91.34
194.22
76.93
43.43
124.52
114.40
46.26
126.21
124.45
71.50
51.73
143.45
77.83
79.41
76.92
97.30
90.97
129.96
58.77
61.38
52.62
95.90
70.06
37.32
48.66
69.64
87.50
73.96
160.10
55.54
45.69
44.49
39.72
88.93
31.83
84.30
30.40
44.80
45.08
22.81
90.33
79.27
72.10
118.24
53.81
64.67
35.14
76.48
142.38
27.51
57.33
75.27
76.69
85.78
100.42
186.17
990.69
65.02
74.05
162.34
52.59
92.96
320.06
28.14
51.04
68.01
202.01
162.43
23.41
35.39
64.21
77.87
23.76
58.72
51.03
181.40
41.47
90.83
107.33
66.82
128.78
58.58
24.26
79.31
93.64
38.10
80.72
85.90
42.53
38.06
96.43
61.75
36.32
48.80
58.39
61.50
81.84
46.44
40.07
29.00
65.81
143.95
4400
-
27.00
840.00
-
31878.65
31948.88
-
Closing prices and highs & lows are in traded currency (with variations for that
country indicated by stock), market capitalisation is in USD. Highs & lows are
based on intraday trading over a rolling 52 week period.
ex-dividend
ex-capital redistribution
# price at time of suspension
Sep 23
US$
Merrill Lynch & Co., Inc.
Halliburton Company
Korea Electric Power Corporation
Archer Daniels Midland Company
SouthTrust Bank
FleetBoston Financial Corp.
Euro
Goldman Sachs Group, Inc. (The)
Credit Agricole S.A.
B.A.T. Netherlands Fin B.V. (Re - British American Tobacco)
Philip Morris Intl, Inc.
Yen
Wal-Mart Stores, Inc.
Sterling
IPIC GMTN Limited
B.A.T. Intl Fin plc (Re - British American Tobacco)
Red
date Coupon
Ratings
M*
Bid
yield
Day's
chge
yield
Mth's Spread
chge
vs
yield
US
F*
Bid
price
09/26
02/27
08/27
12/27
12/27
01/28
6.22
6.75
6.75
6.75
6.57
6.88
BBB+
A
A+
A
A+
BBB+
Baa3
A2
Aa3
A2
Aa3
Baa3
AAAAA
A+
A-
115.06
120.57
99.12
120.85
119.55
119.99
4.52
4.47
6.98
4.56
4.52
4.77
0.00
0.00
0.00
0.00
0.00
0.00
0.09
0.19
-0.17
0.24
0.05
0.09
2.37
-
06/26
03/27
03/29
05/29
2.88
2.63
3.13
2.88
ABBB
AA
A3
Baa3
A3
A2
A
AAA
104.69
93.77
108.90
106.22
2.37
3.28
2.34
2.34
0.00
0.00
0.00
0.00
0.09
-0.08
0.08
0.05
0.23
-
07/15
0.94
NR
WR
NR
100.00
0.31
0.00
0.00
03/26
09/26
6.88
4.00
AA
A-
Aa2
A3
AA
A-
124.56
107.27
3.96
3.20
0.03
-0.06
0.09
-0.12
1.82
1.06
S*
Data provided by SIX Financial Information. US $ denominated bonds NY close; all other London close. *S - Standard & Poors, M Moodys, F - Fitch.
Sep 23
Day Chng
Prev
52 wk high
52 wk low
VIX
22.13
-0.31
22.44
53.29
10.88
VXD
20.80
-0.34
21.14
56.32
7.04
VXN
23.78
-0.80
24.58
46.72
11.15
VDAX
26.28
-0.65
26.93
29.94
CBOE. VIX: S&P 500 index Options Volatility, VXD: DJIA Index Options Volatility, VXN: NASDAQ Index Options Volatility.
Deutsche Borse. VDAX: DAX Index Options Volatility.
52 Week
High
Low
Ratings
M*
Red
date Coupon
Stock
Red
52 Week
Amnt
Change in Yield
Sep 23
Price
Yield
Day
Week
Month
Year
High
Low
m
Tr 2pc '16
100.50
0.46
-4.17
-6.12
0.00
-33.33 101.97 100.50
0.32
Tr 1.75pc '17
101.67
0.48
6.67
-12.73
-4.00
-53.85 102.68 101.58
0.29
Tr 5pc '18
110.72
0.59
3.51
-16.90
-6.35
-59.03 113.65 110.45
0.35
Tr 4.5pc '19
112.41
0.85
3.66
-12.37
-7.61
-49.70 115.07 111.71
0.36
Tr 4.75pc '20
115.97
1.07
2.88
-10.83
-6.96
-43.39 119.04 114.68
0.33
Tr 1.5pc '21
100.78
1.35
2.27
-8.78
0.75
-34.15 142.92 100.01
0.04
Tr 4pc '22
116.17
1.37
1.48
-9.27
-3.52
-36.28 119.85 112.69
0.38
Tr 5pc '25
129.02
1.67
1.83
-8.24
-1.76
-32.39 134.70 123.19
0.35
Tr 4.25pc '27
125.18
1.92
1.05
-6.34
-0.52
-28.09 131.90 117.52
0.31
Tr 4.25pc '32
127.71
2.25
0.90
-4.66
1.81
-21.88 136.85 119.11
0.35
Tr 4.25pc '36
129.74
2.40
1.27
-4.00
3.00
-19.73 140.37 119.97
0.28
Tr 4.5pc '42
139.87
2.48
1.22
-3.13
4.20
-18.42 153.16 127.45
0.26
Tr 3.75pc '52
131.71
2.44
0.83
-3.17
3.83
-20.00 145.21 115.33
0.22
Tr 4pc '60
143.16
2.41
1.26
-2.82
4.78
-20.46 159.23 123.64
0.21
xd Ex dividend. Closing mid-prices are shown in pounds per 100 nominal of stock. Red yield: Gross redemption yield.
This table shows the gilts benchmarks & the non-rump undated stocks.
Day's
chg %
-0.07
-0.18
-0.25
-0.19
-0.43
-0.25
Sep 23
98.44
179.92
209.01
186.56
300.44
173.19
Sep 23
310.77
575.30
432.89
709.15
532.52
Sep 23
1.14
1.82
2.23
Day's
chg %
0.05
-0.10
0.07
-0.17
-0.08
Sep 22
1.12
1.80
2.21
Yr ago
1.80
2.49
2.82
Total
Return
2364.43
3244.46
3821.66
3383.16
4324.32
3229.23
Month
chg %
0.52
-2.94
0.07
-4.11
-2.44
Return
1 month
0.17
0.19
-0.04
0.14
-1.69
-0.61
Year's
chg %
-2.17
11.83
2.22
16.70
10.38
20 Yrs
45 Yrs
inflation 0%
Sep 23
Dur yrs Previous
Yr ago
Sep 23
Real yield
Up to 5 yrs
-0.76
2.61
-0.75
-1.11
-1.52
Over 5 yrs
-0.81
23.68
-0.82
-0.29
-0.85
5-15 yrs
-0.75
9.83
-0.74
-0.43
-0.87
Over 15 yrs
-0.82
29.32
-0.83
-0.26
-0.84
All stocks
-0.81
20.56
-0.81
-0.30
-0.86
See the FTSE website for more details: http://www.ftse.com/products/indices/gilts
Total
Return
2362.97
4239.50
3281.57
5131.13
3972.81
Sep 23
2.43
2.43
Return
1 year
2.75
6.78
9.87
7.62
13.88
8.21
Yield
0.93
1.54
1.92
1.65
2.41
2.15
Return
1 month
0.52
-2.88
0.09
-4.05
-2.39
Return
1 year
-0.82
12.74
3.56
17.41
11.35
Sep 22
2.40
2.40
Yr ago
2.98
3.04
inflation 5%
Dur yrs Previous
2.64
-1.51
23.78
-0.85
9.84
-0.87
29.38
-0.85
20.73
-0.86
Yr ago
-1.94
-0.33
-0.57
-0.29
-0.35
All data provided by Morningstar unless otherwise noted. All elements listed are indicative and believed accurate
at the time of publication. No offer is made by Morningstar or the FT. The FT does not warrant nor guarantee
that the information is reliable or complete. The FT does not accept responsibility and will not be liable for any
loss arising from the reliance on or use of the listed information. For all queries e-mail
ft.reader.enquiries@morningstar.com
26
FINANCIAL TIMES
Main Market
Price
52 Week
High
Low
+/-Chg
Yld
P/E
0.61
4.75
1.84
3.82
2.91
3.40
2.24
2.69
20.80
19.49
-25.53
Vol
000s
916.50
431.40
223.25
279.10
472.10
679.50
250.90
1648
14.50
5.90
1.25
1.60
8.20
-6.00
4.00
-2.00
954.50
549.00
248.00
349.10
593.50
1061
361.70
1914
615.00
419.30
197.48
250.50
421.70
679.50
246.20
1627
13.68
260.80
-0.24
6.20
16.74
389.00
26.99
351.25
15.72
1825
0.33
57.51
248.20
94.11
498.75
72.95
71.74
313.30
667.80
115.50
124.00
51.19
388.00
29.97
-0.84 37.25
-4.75 758.00
0.15 18.48
2601.83
0.39
-0.62 71.25
1.55 289.90
-0.13 107.32
11.35 674.57
0.65 89.35
-0.14 83.87
2.00 414.00
-5.20
1222
0.50 128.00
141.00
-0.31 57.89
1.70 472.90
-1.14 40.07
-162.08
19.65
-49.97
16.87
-144.57
34.9
6003.8
56.4
1325.8
2094.5
6432.1
821.3
96.8
Banks
ANZ A$X
BcoSant
BankAm $X
BnkGeorgia
BankIre
BkNvaS C$X
BarclaysX
CanImp C$X
HSBCX
LlydsBkgX
RylBkC C$X
RBSX
StandChX
..7.375%Pf
..8.25%Pf
TntoDom C$X
VirginMoney
Westpc A$X
26.41
345.99
14.60
1609
0.07
52.60
204.05
83.10
478.35
70.90
68.05
300.30
667.30
108.50
119.50
47.75
278.00
29.20
10.52
12.08
1.23
2.51
5.82
2.62
4.43
6.51
1.03
4.22
8.27
6.39
6.65
3.82
9.69
9.25 10209.5
10.33 50026.9
17.31 77462.9
9.16
19.7
15.72 15339.2
10.94 1912.0
115.07 24949.7
10.57 984.4
11.25 26877.4
39.65 127696.6
10.99 1630.8
-21.85 7420.9
14.86 8284.6
66.0
28.4
12.33 2511.9
-970.00 1024.7
11.51 8907.3
34.00
0.90
1367
18.90
2.00 129.60
0.06
8.35
31.00 1614.36
-0.56 28.74
1722.9
562.4
1437.5
5322.7
494.10
114.60
145.50
2690
210.00
315.90
331.30
1668
0.10 499.70
0.40 146.45
0.25 169.75
22.00
3150
1.80 324.10
-6.30 435.20
-3.60 364.10
51.00 2202.55
294.56
96.83
80.00
1965
206.70
273.20
176.64
1542
1.85
1.90
1.82
2.43
2.52
3.43
2.35
2.71
22.96
27.96
-4.38
20.94
9.13
18.76
22.35
16.86
1045.1
2284.6
22.4
288.5
1261.5
343.2
274.8
178.9
113.60
145.59
101.00
170.00
37.50
263.50
1220
1085
742.00
1260
11.03
44.25
184.00
570.00
14.69
29.51
228.25
2.60
2.21
8.20
2.42
4.11
2.57
2.42
3.28
2.80
4.15
0.68
4.11
1.66
3.71
2.69
1.53
2.76
16.63
-4.24
14.15
15.61
34.30
16.48
28.37
35.91
30.18
16.93
29.41
-21.30
15.00
27.18
42.06
152.4
1403.7
18.0
11.8
22.0
72.8
1358.9
265.4
65.2
460.7
29.5
153.1
835.7
32.3
230.7
3415.7
54.1
398.00
145.44
557.50
258.10
531.00
1520
1606
96.00
1340
2.42
1.95
1.59
3.69
2.25
2.17
2.76
4.14
3.78
33.20
21.25
26.22
51.09
-51.21
11.67
15.60
-68.10
16.30
90.7
777.4
507.0
271.0
129.4
23.8
275.9
75.0
1.7
Chemicals
Alent
Bayer X
Carclo
Croda
Elemntis
Syngent SFrX
Synthomer
Victrex
192.50
253.30
118.00
231.25
75.50
369.00
1833
1617
898.50
1388
22.97
65.75
360.80
728.00
19.50
39.22
290.00
3.50
6.00
5.25
0.75
27.00
-11.00
-7.00
-15.00
-0.07
0.50
11.50
-2.00
-0.25
-0.42
-
193.90
272.50
124.50
245.00
84.01
404.88
2478.5
1824
1105
1779
24.00
76.00
379.80
865.00
22.76
44.84
342.00
620.50
230.25
720.50
295.30
565.00
1955
1684
133.00
1640
-14.00
-4.75
5.50
2.40
14.50
-3.00
6.00
3.00
40.00
940.00
268.00
786.50
375.84
1114
2672.9
2420
164.00
1750
Financial General
3i
AberAsM
Ashmore
BrewDlph
Canaccord
CtyLonInv
473.90
312.60
249.10
285.50
290.00
321.25
11.60
2.50
-2.70
-4.30
17.50
1.00
Price
+/-Chg
571.50
509.64
335.00
361.00
635.00
380.37
343.61
291.90
240.90
236.80
265.05
251.25
3.38
5.76
6.64
3.47
3.51
7.47
6.50
13.77
12.89
43.39
-15.93
12.34
1802.1
3772.0
622.3
3494.9
0.6
14.5
52 Week
High
Low
Yld
P/E
Vol
000s
Price
CloseBrs
DBAG
El Oro
Hargr Lans
HBM Hlth SFr
HenderGp
ICAP
Indvardn SKr
ICG
IPF
Investec
Jupiter
Liontrust
Man
NB GFRIF
Paragon
Providnt
RathbnBr
Record
S&U
Schroder
..N/V
SVG Cap
TullettPre
Tungsten
WlkrCrip
1503
26.76
52.00
1205
96.80
262.60
454.70
147.90
533.50
399.10
523.00
441.00
278.00
155.40
94.90
409.20
3100
2080
37.75
2529
2822
2191
480.10
380.40
66.00
44.00
52 Week
High
Low
P/E
Vol
000s
433.9
13.5
31.6
580.6
3.7
2528.9
780.4
389.1
372.7
361.8
1003.6
759.3
16.4
4924.5
1369.7
401.6
131.5
114.7
27.2
0.5
287.6
32.2
154.0
130.8
447.5
7.0
5.00
40.00
-1.50
16.50
-0.04
-0.38
62.00
-31.00
-1.50
0.50
0.09
2.60
-5.00
-0.27
-0.25
1.00
2.50
99.00
-1.75
1.50
-0.49
30.00
-0.04
20.6
672.5
124.7
622.3
37.7
21.6
763.8
6.3
233.0
199.3
35.4
622.3
22.3
59.7
5739.6
993.4
7.3
2447.1
44.9
1080.5
210.2
1656.9
2.9
+/-Chg
Yld
545.00
3140
528.50
666.50
3.50
149.63
1401
1607
611.00
298.25
16.77
298.10
465.00
65.56
71.70
32.00
267.50
3567.5
192.25
551.50
112.35
2581
34.90
139.50
924.50
121.60
520.50
-1.50
4.00
1.90
-7.00
155.50
1015
158.50
551.50
80.00
650.00
113.70
315.20
2.37
1.96
0.72
1.41
139.22
61.23
28.80
14.72
4.3
15.2
736.7
299.1
184.50
651.50
2528
3408
1031
571.50
578.00
439.00
493.00
152.75
2074
21.38
288.70
5850
463.30
200.10
3064
13.50
45.00
91.00
6.00
2.00
-3.00
4.00
-1.00
1.75
33.00
-0.03
1.60
147.00
2.90
3.50
69.00
Industrial Engineering
Bodycote
Castings
Fenner
Goodwin
Hill&Sm
IMI
MelroseInd
Renold
544.50
444.50
161.25
2285
715.50
974.50
263.80
71.50
1.00 797.59
-0.50 470.00
-1.25 347.60
10.00
3638
3.50 735.00
5.00 1454.55
4.80 314.78
1.25 86.00
535.00
360.00
156.00
2063.5
520.00
961.00
242.70
49.00
2.64
2.94
7.44
1.85
2.52
3.86
3.15
-
17.43
13.98
782.77
13.22
27.77
15.06
41.28
28.99
492.3
22.8
245.0
1.3
13.0
900.7
2396.5
75.3
52 Week
High
Low
Yld
P/E
Vol
000s
6.68
1.94
2.21
1.83
15.61
340.43
19.60
30.68
42.13
51.5
9.7
0.2
10.0
0.6
395.9
8.9
47.0
42.0
5.4
Price
Rotork
Severfd
SKF SKr
Spirax-S
Tex
Trifast
Vitec
Weir
171.20
63.00
148.30
2790
108.00
110.00
620.50
1184
+/-Chg
52 Week
High
Low
Yld
P/E
Vol
000s
4552.2
31.1
3224.8
156.8
1.2
11.7
174.6
804.8
-0.27
-0.10
-0.25
2.00
4.00
0.30
10.00
-0.01
1.00
10.51
9.94
12.19
18.78
30.60
24.20
18.43
23.10
9.60
2.3
687.2
305.8
317.2
23.2
773.6
503.5
1457.5
1919.2
341.0
463.0
16.97
47.95
41.85
60.87
12.31
-7.45
-0.37
70.79
14.08
12.46
3114.3
1.4
9.5
956.4
158.4
169.9
0.2
4.6
2298.4
12.9
Industrial General
BritPoly
CoatsGrp
JardnMt $X
Jard Str $X
Macfrlne
REXAM
RPC
Smith DS
Smiths
SmurfKap
Vesuvius
740.00
25.50
47.33
27.15
50.25
531.00
636.50
396.90
1039
25.24
341.00
755.00
31.50
67.88
37.03
53.00
592.50
696.24
423.70
1303
30.31
530.00
571.35
19.00
45.02
26.11
34.00
424.60
488.20
231.82
1006
14.92
335.00
2.16
2.91
0.96
3.28
3.33
2.23
2.65
3.87
2.12
4.73
254.40
390.00
1835
8.62
940.00
52.00
97.00
770.00
388.00
360.00
3.62
5.91
2.96
1.46
2.31
5.19
4.37
5.97
11.90
-380.60
Industrial Transportation
BBA Aviat
Braemar
Clarkson
Eurotunnl
Fisher J
Flybe Grp
Goldenpt
OceanWil
RoyalMail
UK Mail
285.70
439.75
2030
11.96
950.50
82.00
101.00
770.00
457.70
360.00
1.00
8.50
-4.00
-0.08
-4.50
2.75
1.00
-25.00
0.40
-24.00
362.10
513.86
2855
14.57
1442
135.75
362.00
1160
532.50
575.00
1500
656.50
442.80
355.60
343.25
365.00
135.00
105.00
925.00
993.50
693.50
242.60
869.50
192.20
0.06
836.00
1366.5
403.70
54.00
856.00
389.80
25.00
1.40
3.80
6.00
3.30
0.50
0.50
13.00
11.00
3.80
-9.50
6.10
9.00
15.00
-2.50
7.50
4.10
1244
77.00
362.50
157.00
751.00
106.50
142.00
243.00
91.00
12.75
12.83
1119
209.00
14.36
1070
436.75
53.18
175.00
1349
27.00
1350
87.09
-0.25 366.00
158.00
8.00 989.50
192.00
-0.50 204.75
3.10 281.90
-2.00
7830
-0.04 17.55
-0.08 17.11
19.00 1517.42
4.00 239.00
0.18 24.17
18.00
1199
6.75 494.00
0.68 54.47
3.00 222.00
19.00
1616
651.00
56.20
239.00
108.00
699.00
103.00
125.00
192.10
91.00
12.65
12.62
1010
138.25
13.85
921.50
322.00
39.45
137.00
1091
-51.34
-51.66
47.93
8.12
100.69
13.34
16.98
31.29
13.94
129.6
1.4
24.8
83.5
481.1
0.0
103.3
8928.2
28.8
2236.3
1316.7
1230.9
1.2
3278.3
2429.7
12.0
763.1
36.3
2855.0
248.60
658.10
79.00
111.27
524.50
0.60
7.05
7.90
6.20
10.00
-1.50
-2.24
0.03
-0.19
430.9
7254.4
136.9
1456.8
3208.1
1350.6
3406.1
Price
+/-Chg
22.75
190.00
75.13
200.00
16.75 -3.30
120.00 0.79 15.53
202.50
82.00
326.25
44.50
179.50
115.50
5.00
-4.75
-0.25
0.50
-
233.00
106.70
395.00
50.95
198.00
133.00
95.00
79.00
260.25
37.00
117.00
98.50
13.75
0.90
157.00
1.38
0.65
5.43
0.10
53.25
0.90
1.43
5.63
20.13
19.00
2.20
2.15
0.26
10.25
0.50
-3.50
-0.25
0.05
-2.25
-0.03
0.63
-0.25
0.48
0.15
0.01
-
44.58
4.15
198.00
2.80
1.60
16.80
0.46
58.00
2.08
2.00
12.00
38.00
29.50
6.35
3.00
0.49
18.00
35.50
24.00
23.63
1.65
3.30
4.63
0.43
9.88
0.53
-0.13
0.50
-0.88
-0.08
-0.05
0.50
-
40.35
58.00
46.23
4.70
11.40
24.00
1.40
22.33
3.44
JPMGIConv
JPM GEI
JPM I&C Uni
JPM Inc&Gr
JPM Ind
JPM JpSm
JPM Jap
JPM Mid
JPM O'seas
JPMRussian
JPMSnrSec
JPM Smlr
JPM US Sml
JupUSSmCo
KeystoneInv
Law Deb
LinTrain
Ln&StLaw
Lowland
M&GHighInc
Majedie
Man&Lon
MCGlobPort
MCurPac
MercantIT
MrchTst
Mid Wynd
MitonUKMic
MitonWw
MMP
Monks
MontanSm
Mur Inc
Mur Int
..B
NB DDIF $
NewCtyEgy
..Sub
NewCityHY
NewIndia
New Star IT
NorthAmer
NthAtSml
Oryx Int
PacAsset
PacHorzn
Perp I&G
PerAsset
92.50
89.50
355.00
105.00
487.00
226.00
258.00
979.00
995.00
295.00
88.13
890.00
179.50
596.50
1768
501.00
500.00
340.00
1300
151.00
252.00
230.00
167.00
250.00
1680
417.00
318.00
55.00
158.00
3.13
389.40
514.00
660.00
835.00
750.00
1.15
14.50
0.13
57.25
303.75
71.50
765.00
2067
587.50
180.50
158.75
400.70
33530
-1.25
0.50
-3.00
4.50
1.00
2.50
14.00
15.00
5.00
5.00
1.50
23.00
1.00
-3.50
-3.00
-1.25
0.75
-2.88
1.75
1.50
15.00
1.75
0.50
1.40
0.50
8.50
5.00
-0.25
0.25
2.25
-1.00
13.50
27.00
0.50
2.25
3.00
130.00
PolarFins
..Sub
PolarHealth
PolarTech
ProspJap $
QatarInvF $
RIT Cap
RobecoNV
RolincoNV
Ruffer Inv
SchdrAsiaP
Schdr Inc
SchdrJap
SchdrOrient
SchdrUK
SchdrUKMd
101.50
5.50
170.00
544.50
0.96
1.25
1503
30.38
28.32
214.00
246.25
256.00
144.00
168.00
150.75
465.50
-0.50
1.00
0.50
-0.01
0.02
9.00
0.25
-1.50
1.50
2.00
0.50
0.75
1.00
Insurance
Admiral
Amlin
AvivaX
Beazley
Chesnar
DirectLine
Eccles prf
Hansard
Hiscox
JardineL
Lancashire
Leg&Gen
NovaeGp
Old Mut
PermTSB
PhoenixGrp
PrudntlX
RSA Ins
SagicFin
StJmsPl
Stan Life
Media
4imprint
Centaur
ChimeCm
Creston
DlyMailA
HaynesPb
ITE Grp
ITV
JohnstnP
News Corp A $
NewsCpB $
Pearson
Quarto
RELX NV
RELX PLCX
STV Grp
ThmReut C$X
UTV Med
WPPX
1.65
3.38
2.32
2.58
2.72
7.04
5.21
1.93
4.56
3.96
2.33
1.83
3.22
4.14
2.83
28.53
11.40
127.55
12.61
10.22
12.30
11.35
18.57
-189.98
Mining
Acacia
AngloAmer
AngloPacif
AnGoldA R
Antofagasta
..5%Pf
AquarsPl
Barrick C$
318.90
1462
145.00
149.99
811.50
0.60
24.13
17.36
Price
BHP Bltn
BisichMg
EVRAZ
Fresnillo
GemDmnd
Harmony R
Hochschild
Kenmr
Lonmin
Petra
Petropvlsk
PolymtIntl
RndgldRs
RioTintoX
Troy Res A$
VedantaRs
52 Week
High
Low
+/-Chg
Yld
P/E
Vol
000s
9245.8
15.5
2972.6
983.2
32.4
4173.1
267.6
2471.3
3536.0
3712.2
4378.8
220.3
385.6
4330.7
396.9
575.9
1041.5
89.50
65.30
600.50
124.00
9.00
67.50
2.09
19.50
99.00
6.00
553.50
3740
2222
0.28
469.50
20.00
2.30
4.00
-1.25
-0.15
-1.25
0.50
8.05
0.05
14.00
28.00
-0.01
2.90
8.99
6.89
-1.26
126.96
10.16
-1.18
-4.16
-0.94
-2.56
11.97
-0.87
-17.07
26.07
22.11
-0.55
-1.06
1.79
1.93
969.20
329.45
11.88
140.30
235.25
27.00
107.75
72.30
301.00
3.47
267.50
27.75
5.10
394.10
41.43
17.25
119.50
496.10
81.75
756.50
2203
67.50
1561
1575.5
71.94
80.00
155.00
43.70
179.70
-0.05
15.00
4.25
1.10
-4.25
-0.50
5.50
-0.44
-11.00
-0.11
-0.50
-0.09
-21.30
-1.18
0.25
-3.50
-4.40
-0.25
-6.00
-22.90
3.90
25.50
31.50
-0.63
1.00
-1.22
-2.40
114.22
3.17
1420
499.25
13.25
210.00
289.50
0.02
110.90
175.57
97.20
902.00
10.30
548.50
85.00
5.65
902.50
55.76
51.13
169.50
779.50
245.80
1203
3297.7
343.50
2401.5
2504.5
104.38
240.00
397.60
60.84
669.50
9090.3
-22.65 580.2
-48.88 8728.0
-14.96 29369.4
-0.72
14.4
-2.29 604.0
12.95
19.9
-2.36 2221.4
6.62
40.4
13.28 13779.6
-3.69 1025.8
-3.30
1.6
21.74
6.1
-1.32 1187.8
-10.11
37.6
-24.78 967.6
15.92 786.5
-0.46
28.7
9.54 110.3
20.63
29.8
-1.89 2505.3
-20.46 1108.3
11.59 1882.7
-0.72 12944.6
11.57 6044.2
11.68 5356.4
22.05 5609.0
5.36
4.6
-13.39 176.8
16.79 710.9
-1.66 4893.3
1.28
1.46
780.55
252.55
8.25
135.20
177.00
0.02
21.50
90.00
66.55
276.25
2.70
260.00
20.25
3.35
376.20
40.55
10.23
93.50
370.00
80.00
594.00
1913
62.81
1526
1538
68.01
67.25
117.00
41.95
177.00
1.89
7.84
5.95
3.75
5.01
1.24
3.42
5.61
3.11
7.77
7.70
2.42
11.75
6.28
4.83
2.35
9.50
10.00
28.00
27.00
48.00
0.06
0.09
127.00
1.00
651.2
2.8
64.0
42.3
8340.8
327.0
1151.3
0.0
1751.5
127.8
Real Estate
Harworth Gr
12.50
0.25
14.00
5.35
Assura
BigYellw
BritLand
Cap&Reg
Countrywd
DrwntLdn
Gt Portld
Green Reit
Hammersn
Hansteen
HIBERNIA
Highcrft
INTU
LandSecs
LondonMtrc
McKaySec
MucklGp
PrimyHth
Redefine
SEGRO
63.25
696.50
823.50
66.00
495.20
3623
841.00
1.49
613.00
117.00
1.28
987.50
316.20
1247
160.20
250.00
465.00
408.50
53.50
417.20
-0.75
7.00
18.50
0.20
59.00
12.50
14.00
0.30
0.01
-22.50
5.10
27.00
2.20
3.00
0.50
0.05
8.90
64.00
720.00
891.50
70.05
608.00
3818
883.50
1.70
708.00
128.95
1.39
1090
376.50
1363
173.20
275.00
510.00
431.25
59.90
466.70
43.50
479.40
649.00
46.25
404.30
2615
600.04
1.21
537.00
98.70
1.03
795.00
305.50
988.50
132.30
217.25
425.00
324.00
48.00
330.90
REITs
3.02
451.1
2.92
2.70
3.34
1.44
3.03
1.09
1.06
3.33
4.27
3.65
4.33
2.53
4.37
3.44
4.35
4.83
5.98
3.62
13.46
9.69
5.20
4.01
24.66
5.02
5.70
7.08
5.77
18.09
16.53
4.09
6.27
7.05
5.41
11.45
5.29
3.90
2514.0
182.4
3374.8
1697.6
149.8
155.3
543.4
5.1
2736.7
574.7
3204.8
2.0
1867.0
1878.0
576.8
5.7
3.6
97.9
989.8
1432.5
Yld
P/E
Vol
000s
4.23
0.87
0.57
4.33
-4.79
-49.03
7.88
-1.42
-5.15
-6.12
29.28
-0.08
-1.09
-0.67
-5.36
30.90
4.12
-7.92
-10.70
-0.15
-0.06
-4.00
-1.53
5.46
1044.4
540.7
20.3
22.9
73.3
273.4
80.3
634.1
25.0
44.7
203.3
9.2
282.0
2085.8
670.8
8464.7
73.6
200.0
195.9
29.3
-0.13
0.50
0.25
619.00
63.00
339.00
49.40
708.55
2020
67.00
6.50
0.68
48.00
88.29
821.3
697.6
0.4
2.5
211.1
0.4
10.5
5203.8
3795.1
210.1
4.8
Price
Shaftbry
Town Ctr
Wkspace
+/-Chg
909.00
315.00
927.50
16.00
1.00
18.50
425.90
1045
1890
6120
264.75
237.10
420.00
6.68
34.50
159.50
12022.5
131.00
40.00
126.50
28.00
296.00
896.00
58.00
101.50
429.70
645.00
268.00
1.20
20.00
-20.00
2.75
-1.10
-6.25
-0.11
177.50
-0.75
-0.38
-4.25
4.00
1.00
1.10
-0.50
-1.75
296.30
156.70
27.00
302.10
590.00
372.80
6.03
76.70
2430
416.70
892.00
186.00
453.00
709.50
929.00
181.20
488.40
89.00
7495
329.80
44.50
156.50
200.90
9242
1337
168.55
69.25
6.70
4.40
0.50
2.00
Cap&Count
Cardiff
CLS
Daejan
DvlptSec
Grainger
HelclBar
HK Land $
Lon&Assc
MacauPrp
Mntview
Q'tainEst
RavenRuss
RavenR Prf
RavenR Wrt
Safestre
Savills
SchroderRE
Smart(J)
StModwen
UNITE Gp
Urban&C
52 Week
High
Low
975.50
324.65
988.00
Yld
648.00 1.44
245.00 3.31
592.00 1.18
P/E
Vol
000s
5.05
5.90
4.08
348.9
8.8
67.6
1463.2
0.1
3.7
2.0
10.1
486.2
760.5
3100.9
31.9
3.4
0.1
4402.1
108.4
3.1
10.0
111.3
128.8
350.5
0.4
189.3
448.8
18.6
Retailers
AA
AO World
AshleyL
Brown N
Caffyns
Card Factor
Dairy Fm $
Debenhm
Dignity
DixonsCar
Dunelm
Findel
Halfords
Inchcape
JDSportsF
Lookers
Marks&Sp
MossBros
Next
Ocado
Pendragn
Photo-Me
Saga
SignetJwl
SuperGroup
TescoX
VertuMotor
434.50
240.00
36.00
399.00
665.00
389.90
9.77
96.80
2643
490.80
970.00
265.44
563.51
906.65
938.21
185.30
600.00
112.00
8055
478.50
46.17
159.50
225.10
9499
1579
252.52
74.40
286.60
106.86
24.94
247.19
480.00
215.00
5.99
56.85
1443
351.20
767.00
162.00
417.10
589.50
410.00
117.50
380.80
77.50
6130
216.80
28.25
107.85
143.75
6371
750.00
155.40
50.50
7.41
4.71
3.18
1.82
3.69
4.43
0.83
2.24
3.22
2.83
0.76
1.57
3.52
7.19
2.00
2.02
2.74
0.55
6.70
1.23
10.51
14.27
1.78
21.70
18.04
10.43
-27.93
19.66
18.99
-25.83
13.59
19.10
21.40
14.79
16.53
23.41
17.65
289.04
7.79
21.07
23.64
28.33
23.96
-2.40
14.50
2300.7
248.0
148.4
239.7
0.0
208.6
50.9
2332.1
128.2
2321.2
38.5
16.8
350.8
1178.2
256.1
2446.2
6781.7
37.2
297.4
1049.9
440.8
55.6
9780.5
11.3
255.6
18786.3
1560.4
-5.00 334.75
3.50 1724.15
2.50 599.50
11.50
1231
15.00 1580.34
13.00
1207
5.00
1161
1.00 420.50
21.00
1969
19.00
1336
-1.00 371.40
2.00 63.00
2.25 191.45
94.00
5320
-1.25 763.00
2.00 916.50
0.40 263.10
-2.00 640.00
-4.00
1069
4.00
1264
-2.50 868.00
-1.75 107.00
4.50 173.70
-2.70 447.84
10.20 532.00
5.00 878.50
29.00
2797
1094
180.00
942.50
49.98
838.00
1225
868.50
895.50
250.00
1517
1000.5
294.03
44.65
128.02
3050
445.03
617.00
170.50
375.00
624.50
909.95
570.00
66.32
108.15
312.10
309.00
487.20
2141
705.01
2.66
2.85
4.70
1.28
2.46
2.46
3.04
4.12
2.05
2.45
5.87
3.85
6.17
1.66
7.84
2.73
6.74
2.35
2.50
1.64
3.47
1.70
2.98
1.76
4.13
2.03
3.65
56.25
12.61
-0.12
14.57
16.30
16.92
19.36
36.29
25.32
32.34
24.17
-7.14
11.94
31.39
13.91
19.02
10.93
19.47
27.84
20.22
17.00
13.33
22.99
22.59
20.37
15.14
20.57
28.65
24.8
693.3
124.9
1555.5
113.9
1063.2
190.5
736.4
467.2
940.8
1295.6
233.4
68.6
153.6
99.2
86.1
877.7
1.7
565.9
2358.0
434.4
71.2
2169.8
205.9
982.3
121.5
420.4
4.4
52 Week
High
Low
Yld
P/E
Vol
000s
2.50
2.24
3.18
2.06
3.47
4.32
12.80
1.65
40.00
8.60
3.00
6.00
3.00
4.00
-1.00
0.60
12.40
-0.50
95.00
3.80
1.25
-1.60
276.00
31.00
0.35
-1.25
-177.32
-262.04
Support Services
Acal
Aggreko
APR Engy
AshtdGp
AtknsWS
Babcock
Berendsen
Brammer
Bunzl
Capita
Carillion
Comnsis
ConnectGp
DCC
DeLaRue
Diploma
Elctrcmp
EnergyAst
Essentra
Experian
Grafton
HarvyNah
Hays
Homesve
HowdenJny
Intserve
Intertek
Latchways
270.00
952.50
72.50
955.00
1392
891.00
985.50
260.00
1728
1193
302.40
52.00
152.25
4774
465.50
623.00
174.30
518.00
778.00
1035
656.00
96.00
154.70
408.80
478.50
557.00
2423
1085
Price
Lavendon
MngCnslt
MearsGp
MenziesJ
MichaelPge
MITIE
PayPoint
PremFarn
Rentokil
Ricardo
RbrtWlts
RPS
Shanks
SIG
SpeedyHr
St Ives
TribalGrp
Vp
Watermn
Wolseley
162.00
16.00
388.00
411.25
473.50
278.10
1028
108.25
145.00
902.00
413.50
219.50
91.75
175.40
36.25
177.50
118.25
740.00
72.00
4214
52 Week
High
Low
+/-Chg
0.50 211.50
-0.25 26.06
5.00 475.00
2.25 525.00
4.50 568.00
3.70 329.90
3.00 1112.15
2.75 204.60
1.30 154.20
7.50 967.50
5.50 478.00
0.25 282.10
0.75 113.50
2.30 212.20
-0.25 80.50
1.25 204.50
-5.75 188.00
25.00 816.00
-0.50 76.00
100.00
4398
Yld
P/E
Vol
000s
155.50
13.25
354.75
306.25
358.70
263.90
779.82
101.00
110.90
605.50
270.00
181.50
84.50
143.40
34.00
156.68
118.00
539.00
50.00
2990
2.84
5.16
2.58
3.94
2.32
4.06
3.53
9.61
1.79
1.72
1.45
3.86
3.76
2.51
1.79
4.03
1.52
2.08
1.39
1.96
17.09
-78.05
15.00
36.57
22.91
29.38
17.92
9.11
20.31
25.65
24.11
15.52
-19.95
31.42
929.49
50.96
-20.12
15.74
54.96
38.05
126.9
56.4
29.8
18.1
486.5
483.5
13.8
1570.3
1363.7
5.1
32.2
214.3
25.4
616.4
24.1
50.8
20.3
8.6
14.7
753.3
778.50
550.00
281.50
316.34
65.95
0.75
1.02
3.47
1.20
3.18
44.45
25.43
17.52
10.41
85.83
3576.2
2323.5
214.7
294.7
302.7
4191.0
48.5
13.1
4.0
3.9
269.8
64.2
1.8
1457.2
76.0
896.9
10.0
Tech - Hardware
ARM Hldgs
CSR
Laird
Pace
SpirentCM
936.50
899.50
360.00
363.60
77.50
7.00
0.50
1.30
4.60
3.25
1233
900.00
413.30
520.80
98.75
125.75
2144
761.00
12.00
65.50
1222
267.00
170.00
505.50
334.50
1110
35.50
34.00
12.00
-0.75
12.00
7.70
-9.75
7.00
-0.75
129.75
2344
802.40
16.37
79.00
1442
273.75
185.00
584.00
472.00
1250
43.00
69.25
1183.9
651.67
11.25
63.10
970.50
169.80
133.75
346.70
306.00
815.63
9.25
1.51
1.28
2.60
3.05
2.50
1.37
2.35
2.40
0.75
1.22
-
39.36
33.03
8.28
-5.06
21.79
33.21
34.04
10.70
27.67
31.77
88.19
15.28
412.15
999.00
90.00
312.50
1069
8.15
12.00
1.25
0.30
-23.00
481.75
1056
101.00
415.10
1460
351.90
653.00
78.50
261.00
725.50
2.77
3.11
5.60
4.03
3.55
15.53 13441.7
22.27 955.6
36.87
86.2
40.67 1044.5
26.60 173.4
3514.5
3399
55.50
79.00
Telecommunications
BTX
Inmarsat
KCOM Gp
TalkTalk
TelePlus
Tobacco
BrAmTobX
ImpTobX
2327.6
3083.4
170.75
432.50
106.40
556.00
1025
110.50
99.00
1106
2391
793.00
4.39
96.00
1.58
147.50
287.80
677.50
269.80
676.00
60.00
339.70
115.90
1208
4598
349.80
-1.00 185.75
22.25 470.00
0.70 128.00
5.00 599.00
13.00 1223.36
4.40 139.60
1.30 129.90
4.00
1235
15.00
2745
-12.50 891.00
4.70
-0.45 147.00
1.80
1.40 174.40
5.00 324.80
685.00
-1.50 277.62
5.00 748.70
-1.50 72.00
2.30 437.90
1.70 162.20
30.00 1294.78
43.00
5475
2.60 432.10
118.75
245.00
70.40
298.40
924.41
96.85
88.65
900.00
2264
712.00
2.63
93.50
1.44
134.50
213.40
420.58
151.90
607.00
47.00
331.60
99.05
996.74
3767
333.40
2.98
4.78
3.36
2.43
2.64
1.42
3.58
3.63
2.32
9.27
4.22
4.54
3.58
2.61
1.76
2.28
2.88
1.57
3.49
22.73
15.73
293.92
18.63
19.90
18.50
15.90
21.93
20.00
19.53
12.44
-36.75
20.59
-31.23
17.83
10.33
17.87
24.14
-1.43
14.07
-29.92
67.53
22.67
17.47
30.5
13.7
2601.4
406.1
2688.8
1395.7
2350.3
4.1
52.4
1288.5
1.4
1832.3
11.6
2024.8
365.0
24.8
119.5
852.0
71.0
396.2
4619.2
1296.5
407.1
1616.1
223.50
1407.5
259.30
862.00
719.00
889.50
2.00
-6.80
10.40
6.00
13.00
221.50
1135
246.00
806.40
711.25
784.00
6.04
4.44
4.59
4.90
4.17
4.11
-22.49
18.68
6.07
16.15
22.97
22.41
9335.9
0.4
1359.3
5720.7
763.3
1737.7
Utilities
Centrica
DeeVally
Drax
Natl GridX
Pennon
UtdUtils
320.40
1450
649.50
965.00
925.00
1045
AIM
Aerospace & Defence
Cohort
375.00
1.00
390.00
2.8
5.50
2876
-1.50
-2.00
13.50
3024
4.00 -0.93
2270 2.36 20.90
120.2
0.1
Banks
BCB Hldgs
STB
560.00
12.50
570.00
6.1
190.00
-0.50
225.25
186.0
1070.5
81.50
8.60
800.00 0.77
56.00 5.50 3.43
7.71
-6.28
8.04
0.4
255.5
0.3
6.50 -5.96
3.50 - 293.10
4.00 10.57
9.75 -2.57
58.00 2.35 58.30
120.00 1.59 22.68
228.00 3.31 14.79
56.3
100.0
3.4
853.9
1.0
51.6
14.9
Chemicals
Scapa
1035
63.75
6.13
2.50
-5.75
-
8.20
8.50
7.00
10.13
66.00
205.00
302.50
-0.35
0.13
-0.13
10.50
-
10.75
9.75
8.70
50.00
112.00
209.50
319.00
Financial General
Ambrian
Arbuthnot
Aurora
BP Marsh
BrooksMac
Camellia
Fairpoint
Leeds
MattioliWds
Miton
MAB
Numis
Park Grp
5.50
1450
9.38
144.50
1899
9635.5
177.00
34.75
610.00
25.75
287.50
235.75
75.25
12.05
5.10 16.67
1650 1000.00 1.86 19.91
12.88
8.00 -0.96
-0.50 156.75 121.00 1.90 8.56
-8.50 1956.47
1300 1.37 30.33
-5.50
9992
8500 1.31 326.95
185.00 105.66 3.62 25.46
43.79 30.00 9.10
630.00 414.00 1.53 31.13
38.00 18.50 2.10 -7.88
309.26 160.00 29.99
-5.25 278.00 196.09 4.45 17.90
0.50 80.75 47.00 3.39 16.36
225.0
3.5
35.8
3.5
22.6
0.8
10.1
75.5
1.7
22.5
1.4
7.3
40.3
PolarCap
Share
ShoreCap
STM Group
WH Ireland
Price
+/-Chg
396.50
32.00
407.50
57.00
109.50
-8.00
-1.00
-
500.00
41.68
431.50
65.00
130.00
351.00
26.75
400.00
16.50
79.00
99.00
1469
407.50
51.00
550.00
3.50 110.00
4.00 1496.81
2.50 620.00
-1.00 59.40
5.00 607.25
152.00
7.25
248.50
300.00
14.25
96.50
-0.75
1.00
161.00
16.90
262.15
356.00
31.00
107.99
111.00
3.60
190.00
264.40
12.00
65.00
0.46
3.22
2.83
1.68
23.73
-9.18
11.72
37.54
-1.81
24.05
1137.5
600.3
10.7
16.2
42.0
3.1
23.00
635.00
41.00
969.00
960.00
495.00
244.85
10.25
502.00
20.00
562.50
840.00
327.27
151.05
2.76
2.59
0.55
2.94
2.52
0.91
14.18
19.31
-5.19
14.77
12.39
25.62
45.0
4.6
344.9
1.7
1.5
138.6
121.2
20.00
137.50
197.68
750.00
6.75
14.60 6.55
68.01 7.24 -18.53
116.00 4.64 21.04
170.05 4.87 10.46
3.00 -3.55
4.0
7.9
1.4
1.4
47.8
96.00
73.00
11.22
26.3
222.9
12.5
21.75
622.50
24.25
904.75
902.50
404.00
212.00
-0.25
2.50
0.25
4.75
-2.50
5.75
-2.50
-385.49
Industrial Engineering
600 Grp
Molins
MS Intl
Pres Tech
TP Group
16.88
76.00
172.50
172.50
3.75
Industrial General
Powerflte
RM2
Symphny
93.75
58.00
7.50
0.25
-3.25
-
52 Week
High
Low
Yld
P/E
Vol
000s
Insurance
Gable
Helios
20.2
1.0
Media
Avesco
Cello Gp
M&Csaatc
MissionMk
Next15Cm
YouGov
2.96
3.17
1.92
2.25
1.54
0.69
14.11
76.56
-44.66
8.80
116.11
207.73
19.1
200.9
29.2
36.3
16.6
22.0
Mining
AMC
BotswanaD
CentAsiaM
Connema
C'royG&NR
GrekaDrill
Herencia
HighldGld
KarelianDd
OracleC
ShantaGold
SierraRut
Sirius Min
SolGold
Stratex
Xtract Res
ZincOx
1310.4
1317.9
0.4
4448.8
782.3
139.7
10.0
101.7
76.1
-6.4
-2.6
2.5
-3.1
-12.3
-14.7
-11.0
-3.5
-6.3
-14.2
-4.6
-14.4
0.8
-12.1
-5.0
10.9
25.7
-4.2
-1.8
-7.5
1.4
-18.4
-0.2
-14.5
-10.9
-4.0
-1.1
-7.5
-10.4
-8.3
-6.9
2.0
-8.4
-17.1
1.5
-9.4
-34.1
-8.8
-20.6
-10.8
-2.4
-10.5
1.0
-0.5
Price
EuropaOil
FalkldO&G
GETECH
Infrastrata
Iofina
Ithaca Engy
KBC Adv
Max#
PetrelRes
Petroceltic
PetroNeft
Plexus
PresidentEn
Rockhop
Sound Oil
TowerRes
TrinityE
UnJackOil
VictorOil
VolgaGas
3.38
22.75
52.00
1.63
17.25
32.75
115.50
0.16
2.50
61.50
4.35
192.00
9.25
40.50
14.63
0.16
5.70
0.16
53.00
55.50
52 Week
High
Low
+/-Chg
-
0.25
0.50
0.50
4.00
-0.13
-0.20
-3.75
-0.25
-0.13
-0.35
1.50
-
10.75
45.00
65.00
8.65
57.90
133.25
130.31
1.35
7.00
224.00
6.65
267.00
39.48
91.00
26.73
0.88
85.50
0.48
89.05
117.00
3.06
16.75
32.00
1.32
13.62
26.25
77.00
0.08
2.00
42.75
3.60
165.00
9.00
38.50
8.75
0.09
2.92
0.14
1.21
51.45
583.00
55.38
185.00
28.25
573.50
1800
39.50
4.25
0.25
37.50
83.25
7.50
0.13
5.50
Real Estate
Conygar
FltchKng
InlandHms
Lok'nStor
LXB Retail
167.50
46.50
69.50
294.00
85.00
-0.50
0.50
-0.25
195.00
65.00
74.00
300.30
149.00
160.00
38.00
45.00
199.17
77.00
1.04 8.49
6.45 6.47
0.86 21.97
2.38 124.95
-
30.2
0.7
348.6
7.5
330.5
ScotAmer
Scottish In
ScottMort
ScottOrtll
SecTstScot
Seneca I&G
Shires Inc
StdLf Eqt
StdLf Sml
StrategicEq
Temp Bar
TempEmerg
TRIG
ThreadUKSel
TREurGth
TroyInc&G
UtilicoEmg
UtilicoInv
ValAndInc
Witan
WitanPac
WorldTst
WwideHlth
244.75
573.50
242.50
700.00
123.00
141.25
225.25
452.00
341.00
227.25
1043
406.00
101.75
161.00
582.00
67.75
165.00
109.25
231.00
735.50
212.25
238.00
1852
1.25 276.50
4.50 670.00
1.00 283.40
-2.00 898.50
1.25 148.00
-0.50 150.00
3.25 261.00
11.75 471.46
6.00 346.00
0.75 241.50
13.00 1235.01
-2.00 607.78
-0.50 109.00
1.00 180.00
8.00 661.00
0.25 74.71
0.75 171.74
126.00
-0.50 274.00
8.50 850.00
-0.75 274.75
1.50 285.25
19.00 2108.5
221.99
536.00
204.00
660.00
121.75
131.00
214.00
362.50
256.00
160.75
1026
370.00
99.00
156.00
438.00
60.00
119.11
103.00
228.50
642.00
203.03
212.00
1355
4.31
2.09
1.20
1.64
3.90
3.96
5.33
3.10
1.36
0.34
4.49
1.79
5.98
2.70
1.12
3.36
3.70
6.86
3.77
2.13
2.12
0.22
0.76
230.2
642.5
237.6
812.2
132.0
142.5
233.9
441.2
357.9
216.1
1077.4
457.4
178.7
644.9
68.0
179.0
144.2
293.8
735.0
251.9
271.2
1911.3
6.3
-10.7
2.1
-13.8
-6.8
-0.9
-3.7
2.4
-4.7
5.2
-3.2
-11.2
-9.9
-9.8
-0.4
-7.8
-24.2
-21.4
0.1
-15.7
-12.2
-3.1
Yld
2.47
4.76
1.44
4.75
1.33
2.98
0.76
1.70
6.95
2.38
NAV
121.4
15.9
506.7
3672.5
146.5
282.7
689.2
1073.3
1296.4
1.3
691.6
162.0
526.7
1600.8
1600.8
9.1
1072.7
277.2
Dis(-)
or Pm
-25.5
-36.0
-35.7
-11.0
3.4
-19.3
-18.0
-22.1
-17.1
-26.9
-41.3
-19.1
11.8
-18.7
-22.9
-17.4
-14.2
-24.2
NAV
Dis(-)
or Pm
Price
NewRiver
Palace Cap
PnthrSec
PSPI
SiriusRE
SumGermny
TaliesinPr
Winkworth
+/-Chg
340.00
380.00
377.50
35.00
0.51
0.87
2267.5
146.00
-1.50
-7.50
-15.00
-
350.00
405.00
390.00
37.00
0.53
0.99
2545
180.00
271.00
295.00
300.00
23.50
0.28
0.50
1750
115.00
18.39
4.74
16.67
-7.30
11.13
14.95
8.22
13.24
92.6
9.8
0.2
6.3
100.0
4.6
0.9
25.0
2525
67.50
365.25
152.00
52.00
-2.00
-3.75
-2.00
4259
171.00
480.00
322.00
1742 58.05
60.00 280.00 4.38 17.93
151.00 4.77 38.23
555.4
6.2
95.8
407.5
Retailers
ASOS
Koovs
Majestic
StanlGib
Support Services
AndSyks
Augean
Begbies
Christie
Empres
Hargreaves
Hydrogen
Impellam
ISG
JhnsnSrv
JourneyGp
LonSec
Matchtech
NewmkSec
NWF
Optimal Pay
PennaCns
Petards
RedhallGp
Renew
Restore
SafeCharge
Servoca
Utilityws
322.50
52.50
43.25
138.50
83.50
367.00
43.50
790.00
210.00
85.75
170.00
2100
525.00
3.38
165.00
330.25
217.50
12.50
6.25
326.50
256.00
270.00
24.25
179.50
-5.00
-1.50
1.75
-1.00
6.50
-2.63
10.00
-0.03
2.50
5.75
-0.25
0.13
-2.50
-1.00
0.25
385.00
62.00
53.00
162.00
91.50
710.00
90.25
859.60
356.00
95.41
181.95
2400
587.80
4.93
170.08
575.00
230.00
13.75
15.53
348.00
289.00
297.00
26.03
311.05
260.00
37.65
38.50
115.00
38.13
280.00
38.33
455.00
140.00
56.00
113.00
1800
495.00
1.75
120.00
215.00
116.00
9.75
5.56
237.00
211.00
224.00
11.00
142.00
7.38
0.95
5.24
1.62
0.84
7.28
10.57
0.79
4.50
1.98
1.75
2.95
3.81
2.22
3.09
1.61
1.53
0.94
1.98
2.23
14.64
10.59
16.91
12.09
10.07
5.71
-12.82
12.90
-7.67
58.49
13.50
21.95
16.37
7.90
12.95
50.51
14.41
9.94
-0.25
18.92
46.74
29.41
18.04
12.52
1.7
212.9
49.8
13.0
40.8
74.6
2.5
1.0
28.6
268.4
7.5
1.3
5.9
791.2
20.2
4053.2
3.0
20.0
50.2
23.0
46.6
25.3
3.0
62.8
Albion Ent
AlbionTech
AlbionVCT
ArtemisVCT
Baronsmd
..VCT 2
..VCT 3
..VCT 4
..VCT 5
BSC VCT
..VCT2
Crown Place
FrsightSol
Inc&GthVCT
KingsAYVCT
Maven I&G
MavenVCT2
MavenVCT3
MavenVCT4
MavenVCT5
Nthn 2 VCT
Nthn 3 VCT
NthnVent
ProVenGI
ProVenVCT
UnicornAIM
90.50
76.00
66.00
63.50
72.63
95.38
100.13
92.63
76.63
88.00
55.00
29.00
103.50
93.50
18.50
69.50
53.00
73.75
84.00
35.75
69.25
90.00
76.00
78.50
94.38
137.00
-0.25
-0.50
-
91.75
78.49
68.65
70.52
75.60
99.00
101.50
95.19
78.88
91.00
59.00
30.50
106.00
104.00
19.50
75.00
55.50
79.00
88.39
36.43
88.00
104.00
85.36
81.25
97.89
138.00
85.00
71.25
63.00
59.23
69.50
91.00
94.00
86.75
72.00
82.00
51.98
27.75
95.00
88.25
17.25
59.50
49.00
70.00
80.00
32.00
67.25
88.00
74.50
76.00
89.50
122.00
5.52
6.58
7.58
6.30
4.82
4.72
7.49
3.24
5.22
6.25
8.18
8.62
5.80
19.25
5.41
6.47
7.26
2.71
5.95
2.80
2.89
6.11
7.89
5.10
4.77
4.38
99.6
79.7
67.1
70.9
76.6
99.7
104.5
96.7
80.2
97.0
60.5
28.3
108.9
103.5
19.9
65.1
63.1
89.2
96.2
41.8
74.6
95.7
80.1
87.5
105.3
154.2
-9.1
-4.6
-1.6
-10.4
-5.2
-4.3
-4.2
-4.2
-4.5
-9.3
-9.1
2.5
-5.0
-9.7
-7.0
6.8
-16.0
-17.3
-12.7
-14.5
-7.2
-6.0
-5.1
-10.3
-10.4
-11.2
Price
52 Week
High
Low
+/-Chg
Yld
P/E
Vol
000s
Tech - Hardware
AminoTech
IQE
158.00
25.00
2.00
-0.25
171.00
26.50
42.2
1073.7
26.00
122.50
90.50
360.00
2.13
41.75
67.00
260.63
298.00
40.00
2.50
127.50
69.00
127.00
-1.00
-0.25
1.25
-0.75
1.50
-0.75
-0.13
-19.50
-35.50
41.00
148.25
110.13
370.00
4.75
48.00
82.28
278.75
303.00
49.00
9.75
208.00
95.51
545.00
14.75
83.00
64.00
261.25
1.25
33.00
62.00
159.93
205.00
26.00
2.00
114.00
38.50
125.00
1.80
2.04
3.06
0.75
0.67
0.42
1.25
2.17
-
-7.44
23.71
-71.09
15.08
-2.20
49.35
-46.50
31.62
27.89
115.27
2.65
-3.93
9.50
-1.39
1556.3
1.2
32.5
138.7
3131.3
440.9
31.5
43.6
32.0
31.2
55.0
124.3
4.0
174.0
3.50
-4.75
-
545.00
325.00
147.60
3.4
34.7
16.9
0.25
16.00
-0.50
-
41.25
79.00
80.00
150.00
330.00
505.00
242.00
15.73
110.00
17.00 4.86
70.75 -19.13
35.00 4.98 120.00 111.15 - 172.51
200.00 0.61 21.45
149.55 1.27 11.00
6.55 -11.49
75.00 20.03
115.4
7.0
0.5
0.4
291.6
376.1
3.6
3.7
9.7
28.83
68.00
6.25
33.40
9.00 -0.43
44.00 4.89 -31.45
1.32 -3.52
5.50 -0.61
1.5
16.9
1282.4
32.4
Telecommunications
AltNetwks
AvantiCom
Peoples Op
529.50
217.00
126.00
27.25
73.50
65.00
135.00
320.00
476.25
157.00
7.25
105.00
Utilities
ModernWtr
RenEnGen
Rurelec
SeaEnergy
9.38
45.00
1.85
5.75
Marwyn Val
TerraCat
221.50
106.00
0.10
Investment Companies
Conventional (Ex Private Equity)
52 Week
Price +/-Chg
High
Low
3i Infra
167.40
0.10 189.56 152.89
AbnAsianIn
155.00
1.50 208.50 142.50
AbnAsian
707.50
0.50 1005.95 653.77
AbnJapInv
453.00
571.00 357.50
AbnLatAmIn
46.75
-1.25 78.25 44.25
..Sub
0.16
-0.05
2.63
0.10
AbnNewDn
146.75
0.25 205.23 136.00
AbnNewThai 351.00
-2.00 489.88 324.00
AbnSmlCo
218.50
-1.00 229.00 174.00
Abn UK
289.50
3.50 334.75 281.83
Abf Gd Inc
198.00
0.25 212.00 138.25
Abf Sml
1145
9.00
1235 966.00
AcenciADbt $
1.61
114.00
1.51
AdvDvpMk
372.00
483.00 350.00
Alliance
460.00
6.00 531.50 420.20
AllianzTech
569.50
-0.50 640.43 463.07
AltAstsOps
41.50
1.25 47.00 37.25
Art Alpha
260.00
-2.75 303.75 249.50
..Sub
19.00
42.00 18.00
AsianToRt
178.50
224.00 163.25
Aurora
151.00
166.58 144.00
BG Japan
409.50
4.75 493.25 316.50
BG Shin
365.50
-4.75 424.00 282.50
BSRT
21.25
38.60 18.00
Bankers
593.00 12.00 674.50 506.00
BrngEmEu
478.00
3.00 636.00 432.00
BH Global
1277
2.00 1343.6
1185
..EUR
12.00
14.00 11.80
..USD $
12.53
-0.10 13.35 11.70
BH Macro
2051
-3.00
2191
1970
..EUR
19.76
-0.07 21.10 19.20
..USD $
19.62
21.10 18.80
BiotechGth
733.50
9.00 898.92 492.52
BlckRCom
62.25
-3.00 112.50 55.25
BlckREmEur
185.38
-0.63 240.00 164.58
BlckRFrnt
102.50
0.50 133.28 95.25
BlckRGtEur
232.00
2.00 264.50 201.75
..Sub
13.00
25.63
8.75
BlckR I&G
175.75
0.25 193.00 158.01
BlckRIncStr
134.50
2.50 140.50 119.25
BlckRckLat
276.50
477.50 267.02
BlckRckNrAm 103.75
0.25 124.50 98.75
BlckRSmlr
928.50
-3.50 983.00 697.00
BlckRThrmt
327.75
0.75 352.00 238.00
BlckRWld
207.50
1.75 457.24 201.40
Bluecrest A
188.00
-0.10 194.60 183.20
Brit Emp
454.00
6.00 557.08 444.40
Brunner
516.00
-3.00 584.12 486.00
Calednia
2150
9.00 2517.66
2104
CanGen C$
18.63
-0.34 22.00 17.08
Cap Gear
3237.5
3575
3125
City Merch
181.50
-0.25 194.00 180.50
CityNatRs
80.88
0.63 135.63 75.00
City Lon
373.90
5.50 418.35 345.00
DexionAb
188.25
0.25 191.00 167.00
..EUR
2.59
0.05
2.65
2.40
..USD $
3.85
3.89
3.60
DiverseInc
91.25
1.50 93.00 73.02
Dun Inc
225.00
2.50 273.00 221.50
Dun Sml
205.00
229.00 171.30
EcofinWatr
118.75
1.25 169.67 114.75
..CULS
102.50
110.50 101.75
EdinDragn
229.00
1.75 311.00 212.50
Yld
4.47
5.29
1.41
0.99
9.09
2.45
2.28
2.97
3.52
3.71
2.16
3.79
2.15
1.25
6.32
1.82
2.52
2.55
3.97
9.66
1.25
4.06
2.03
3.24
4.80
6.97
3.86
1.39
1.34
10.12
2.31
2.33
2.30
2.88
0.49
5.51
6.92
3.98
2.58
5.00
2.56
5.89
0.96
NAV
164.4
817.0
471.5
51.2
167.2
429.7
246.1
303.5
213.4
1257.6
1.7
425.0
524.3
597.5
44.0
320.4
198.5
161.8
402.2
369.0
40.4
593.7
531.7
1352.0
13.3
2154.0
20.8
20.7
768.0
60.3
209.8
107.0
244.3
176.7
130.2
310.8
115.3
1022.1
381.5
227.5
201.2
519.0
576.0
2677.6
25.2
3232.7
178.9
102.9
366.2
193.8
2.7
4.1
89.7
239.5
236.4
146.9
260.5
Dis(-)
or Pm
-5.7
-13.4
-3.9
-8.7
-12.2
-18.3
-11.2
-4.6
-7.2
-9.0
-5.3
-12.5
-12.3
-4.7
-5.7
-18.9
-10.1
-6.7
1.8
-0.9
-47.4
-0.1
-10.1
-5.5
-5.8
-4.8
-5.0
-5.2
-4.5
3.2
-11.6
-4.2
-5.0
-0.5
3.3
-11.0
-10.0
-9.2
-14.1
-8.8
-6.6
-12.5
-10.4
-19.7
-26.1
0.1
1.5
-21.4
2.1
-2.9
-4.1
-6.1
1.7
-6.1
-13.3
-19.2
-12.1
..CULS
Edin Inv
Edin WWd
EP Global
Estabmt
Euro Ast
EuroInvT
F&C Cp&I
F&CGblSmlr
F&CMgdG
F&CMgdI
FidAsian
FidChiSpS
Fid Euro
Fid Jap
Fid Spec
FinsG&I
FstPacfic H HK$
For & Col
Geiger
GenEmer
GFIS
GRIT
GoldenPros
Hansa
..A
Hend Alt
Hen Div
HenEuroF
HenEuro
HenFarEs
HendGlob
HenHigh
HenInt Inc
Hen Opp
HenSmlr
Herald
HICL Infra
Impax Env.
Ind IT
Intl PP
InvAsTr
Inv Inc
InvPerp
IPST BalR
IPST Gbl Eq
IPST Mngd
IPST UK Eq
InvPpUK
Invs Cap A
Invs Cap B
Invs CapU
JLaingInf
JPM Amer
JPM Asn
JPM Brazil
JPM China
JPMElct MC
..MG
..MI
JPM Emrg
JPM EurGth
JPM EurInc
JPM EuSm
JPM Clavr
104.50
690.00
431.50
217.25
153.50
1037.5
690.00
252.00
945.00
147.00
115.00
216.75
116.60
163.50
77.25
196.00
556.50
4.75
420.50
13.75
439.10
15.50
8.50
19.50
807.75
792.50
218.25
89.00
999.00
838.00
270.50
351.75
176.25
116.25
985.00
650.50
695.00
152.50
143.00
356.50
130.80
163.00
271.00
69.25
115.50
152.50
103.00
165.25
375.25
90.00
89.50
363.50
114.70
263.40
200.50
36.00
153.00
100.00
584.50
97.50
521.00
227.25
122.50
237.25
566.50
107.89
11.00 706.00
0.25 502.44
0.25 262.10
188.00
2.50
1160
849.00
277.00
-1.00 1028.92
158.00
130.00
2.00 285.50
-1.50 179.78
2.10 187.50
0.75 88.25
1.25 217.00
5.00 609.36
-0.11
8.75
2.80 467.90
0.13 26.50
5.10 575.00
-1.00 26.00
35.00
35.40
1.25 988.00
938.00
0.25 253.00
-0.25 95.50
19.00 1148.5
10.50 957.00
2.50 362.00
-2.38 416.81
195.25
0.75 137.69
-2.25 1059.1
-4.50 696.00
2.00 742.50
0.80 161.40
167.75
-1.00 368.00
140.59
-2.75 213.58
3.50 305.00
79.00
-1.00 123.00
0.75 172.00
-0.13 104.00
0.88 174.39
4.25 390.46
102.00
103.00
404.95
0.50 128.60
4.90 296.14
0.25 268.92
-0.75 69.03
1.75 233.96
101.99
635.00
1.25 110.00
4.50 674.65
1.25 263.00
-0.50 147.50
-0.50 256.00
4.50 645.18
102.00
565.20
332.25
207.04
138.00
800.00
659.33
231.75
781.00
130.00
110.00
195.50
105.06
137.40
64.00
159.37
464.25
4.67
365.00
11.50
391.70
14.75
7.00
18.00
795.00
785.00
215.00
87.50
816.47
678.25
238.25
336.20
156.50
103.00
755.00
468.13
594.00
142.60
136.00
268.50
130.65
147.00
255.00
68.40
114.00
138.00
100.75
143.00
281.00
87.00
87.03
347.00
113.99
236.05
182.00
34.11
136.30
97.01
507.66
92.00
486.00
193.00
104.75
164.00
534.51
3.42
0.46
1.52
3.06
5.04
2.03
3.93
0.86
4.30
0.51
0.99
1.90
1.68
2.10
4.31
2.24
2.35
1.37
5.73
2.35
2.09
6.84
2.84
4.94
3.70
1.27
1.77
5.92
0.98
1.40
4.82
2.12
3.69
7.22
3.02
3.72
4.57
4.98
1.28
5.78
1.23
1.10
2.36
1.05
1.21
1.74
1.06
2.95
2.08
1.22
3.62
671.5
465.0
223.4
199.1
1026.8
744.0
250.1
935.2
145.2
113.3
244.0
141.3
170.3
88.8
551.3
450.2
15.5
497.0
42.6
22.3
1094.6
1098.1
273.2
88.4
978.3
831.6
269.5
400.9
172.2
113.4
1026.1
710.8
847.9
136.6
161.8
357.5
125.3
184.4
291.1
70.4
115.3
147.5
103.2
161.7
397.3
94.3
94.3
377.4
104.2
268.0
227.4
37.7
182.6
101.5
593.7
100.4
591.3
241.2
127.5
270.5
603.6
2.8
-7.2
-2.8
-22.9
1.0
-7.3
0.8
1.0
1.2
1.5
-11.2
-17.5
-4.0
-13.0
0.9
-6.6
-11.3
-11.6
-63.6
-12.6
-26.2
-27.8
-20.1
0.7
2.1
0.8
0.4
-12.3
2.4
2.5
-4.0
-8.5
-18.0
11.6
-11.6
-0.3
4.4
-11.6
-6.9
-1.6
0.2
3.4
-0.2
2.2
-5.5
-4.6
-5.1
-3.7
10.1
-1.7
-11.8
-4.5
-16.2
-1.5
-1.5
-2.9
-11.9
-5.8
-3.9
-12.3
-6.1
-5.3
-5.0
-3.6
-26.2
-10.7
-2.4
1.4
-12.7
-3.1
-6.2
-3.1
-9.4
-8.9
Direct Property
52 Week
High
Low
Yld
AseanaPr $
AXA Propty
CustdnREIT
F&CComPrp
F&CUKRealE
InvistaERET#
Longbow
PictonProp
SLIPropInc
UKComPrp
0.55
49.63
108.50
140.60
101.50
0.30
106.00
68.50
86.50
86.10
-0.13
1.00
1.50
-0.75
0.05
0.75
1.00
0.50
1.10
0.58
51.01
110.50
149.00
105.50
2.75
106.75
74.75
90.25
94.00
0.43
39.45
104.00
123.00
88.00
0.03
101.25
60.50
74.75
80.75
0.6
3.46 4.27 129.4
4.93 95.8
1.5
5.42 4.38 69.7
5.37 78.0
4.27 84.3
8.7
5.9
-80.0
-1.7
10.9
2.1
SchdrGlbRe
TR Prop
112.88
296.60
-0.75
5.30
132.98
325.00
-9.4
-4.2
Price
69.00
+/-Chg
-
Property Securities
VCTs
AlbionDev
52 Week
High
Low Yld
70.89 66.00 7.25
NAV
71.2
-8.3
Dis(-)
or Pm
-3.1
52 Week
High
Low Yld
106.00 86.00 7.30
5.50
3.00 19.10
66.95 55.00 4900
3800 -
HR
WO GRY 0%
-8.7
-21.3
9.2
-26.2
-15.2
-19.4
-81.9
-2.0
Income Shares
52 Week
High
Low Yld
100.50 90.15 4.51
63.00 51.00 1245 895.00 3.32
HR
WO GRY 0%
-70.7
10.0
-15.2
-16.7
46.3
JPM In&Gr
M&GHghIc
Rghts&I
Price
97.50
55.50
1085
+/-Chg
0.75
-
Price
10.25
2.50
+/-Chg
0.38
-0.38
Capital Shares
JPM Inc&Gr
M&GHghIc
HR
52 Week
High
Low SP WO TAV 0%
15.19
9.00 6.1 -0.4
0.8
5.30
2.00 15.7 14.7
-
HR
SP
-46.1
-70.3
-18.3
-5.0
-88.6
-18.7
-69.4
-20.5
-9.1
WO TAV 0%
159.7
-88.4 160.7
192.1
123.8
-98.4 369.8
-95.5 122.8
192.8
-33.7 160.5
-11.9 154.9
Price
50.38
170.25
51.38
58.63
20.00
3.13
+/-Chg
-0.13
-0.13
-0.25
-
52 Week
High
Low
65.50 49.00
172.00 129.81
65.00 49.00
69.40 46.00
21.99 10.50
4.93
3.00
Yld NAV
55.8
0.3 166.9
9.7 71.0
51.5
-
Dis(-)
or Pm
-9.7
2.0
-17.4
-61.2
-
251.93
112.00
196.00
90.00
ISDX
ArsenalFC
ShephdNm
Thwaites
Price
1567000
1170
108.50
52 Week
+/-Chg
High
Low Yld
P/E
1600000 1400000 67.14
1260 1000.00 2.21 25.96
132.00 102.00 4.11 9.77
Vol
000s
0.0
0.8
0.0
The prices listed are indicative and believed accurate at the time of publication.
No offer is made by Morningstar or the FT. The FT does not warrant nor
guarantee that the information is reliable or complete. The FT does not accept
responsibility and will not be liable for any loss arising from the reliance on
or use of the information.
The London Share Service is a paid-for-print listing service and may not be
fully representative of all LSE-listed companies. This service is available to all
listed companies, subject to the Editors discretion. For new sales enquiries
please email stella.sorrentino@ft.com or call 020 7873 4012.
www.morningstar.co.uk
27
FINANCIAL TIMES
Bid
Offer
+/- Yield
(IRL)
www.acpishard.com
Regulated
ACPI Emerging Mkts FI UCITS Fund USD A $ 106.62
-0.58 0.00
0.01 0.00
0.30 0.00
9.95
-0.03
-0.28 0.00
0.06 0.00
(IRL)
Regulated
Fund
Bid
110.39
Offer
-
+/- Yield
0.09
104.89
-0.08
108.29
0.94
111.37
0.82
99.47
0.73
-0.05 0.00
117.99
0.57
-0.05 0.00
112.86
0.83
-0.10 0.00
(UK)
100 Holdenhurst Road, Bournemouth BH8 8AL 0845 9600 900
additional fund prices can be found @ www.abbeylife.co.uk
Insurances
Life Funds
(IRL)
Beaux Lane House, Mercer Street Lower, Dublin 2, Ireland
Tel: 44 (0) 207 766 7130
FCA Recognised
Artisan Partners Global Funds plc
Artisan Emerging Markets I USD Acc $
+/- Yield
-0.08 0.00
Offer
$ 12.89
Bid
Fund
(UK)
110.74
-0.04 0.49
109.90
-0.04 0.52
113.70
0.00 2.91
100.02
114.21
0.00 2.97
0.01 2.91
100.34
0.00 2.96
133.77
0.16 0.66
130.06
0.15 0.66
143.83
-1.98 2.17
131.53
-1.82 2.20
143.83
-1.98 2.17
131.52
-1.81 2.19
Fund
Bid
Offer
+/- Yield
0.99
0.00
1.02
0.00 1.51
148.60
-1.50 0.75
0.96
0.00 2.84
153.80
-1.60 1.62
China Consumer
1.37
135.00
1.10 1.28
Emerging Asia
1.09
133.10
1.00 0.37
149.20
0.90 0.80
c/o 1901 Me Linh Point, 2 Ngo Duc Ke, District 1, Ho Chi Minh City, Vietnam
Fund information, dealing and administration: funds@dragoncapital.com
Other International Funds
1.17
-0.06 0.00
European - Inc
1.35
15.36
Intl Ser. 4
Japan Ser 4
Man. Ser. 4
Money Ser. 4
Prop. Ser. 4
Investment Inc
Custodian Ser 5
Investment Acc
-0.79 8.00
-0.17 0.94
-0.81 5.63
-0.50 0.00
-0.70 0.32
-0.66 7.80
$ 91.32
$ 75.38
-1.00 4.46
100.00
0.00 0.35
100.00
0.00 0.40
100.00
0.00 0.30
Managed
Property
Security
Selective
123.59
2.21 0.00
128.07
2.30 0.00
Atlantas Sicav
(LUX)
Regulated
Investment Acc
American Dynamic
$ 3398.69
11.16 0.00
-0.50 1.01
(IRL)
$ 341.80
-3.32 0.00
(IRL)
1.00
0.00 0.01
1.48
0.02 3.31
4.16
-0.08 0.00
0.49
0.00 0.00
1.32
0.02 3.46
1.26
-0.02 0.65
0.59
0.00 0.00
Global Focus
12.61
0.09 0.00
-0.10 4.89
9.98
-0.08 5.54
-0.10 4.94
$ 78.46
-0.90 0.00
$ 23.63
-0.53 0.00
-0.09 5.54
42.75
-0.50 0.00
12.03
-0.16 0.00
51.16
-0.14
9.96
-0.22 0.00
$ 11.09
-0.29 0.00
4.09
-0.06 0.00
-0.13
www.dsmsicav.com
Regulated
Global Growth I2 Acc
Global Growth I1 Eur
126.06
94.30
-1.88 0.00
-1.41
(UK)
1.59
-0.03 0.00
-0.72 0.00
23.96
0.15 0.00
1.52
-0.02 0.00
0.93
0.00 2.79
1.41
-0.03 0.34
0.97
0.01 2.50
103.03
-0.75 0.40
1.05
0.01 1.59
1.56
-0.03 0.41
0.95
0.00 4.10
Index UK A-Acc
0.80
0.00 2.97
Index UK P-Acc
0.97
0.00 3.22
Index US A-Acc
1.53
0.01 1.53
(IRL)
Regulated
Cheyne Convertibles Absolute Return Fund 1334.84
-4.70 0.00
118.90
-0.81 0.00
1147.53
13.94 0.00
(UK)
207.80
-0.30 1.48
207.90
-0.30 2.29
119.50
0.00 5.00
123.00
0.00 4.93
231.70
-0.40 0.61
237.10
-0.40 1.23
189.00
-0.10 1.45
-50.24 0.00
190.80
-0.10 2.36
-2.62
106.70
0.00 5.19
1.01 0.00
115.10
0.00 5.18
-0.05 0.00
-10.55 0.00
-6.86
Bond Global
1378.70
13.20 0.00
Regulated
Eurocroissance
843.83
16.09 0.00
Managed (Pensions)
112.59
-1.83 0.00
117.82
-0.38 0.00
139.75
-0.80 0.00
85.12
-0.56 0.00
(LUX)
(IRL)
1.09
0.00 5.20
0.00 3.74
0.96
-0.01 1.50
1.09
0.00 5.21
1.46
-0.05
7.46
-0.01 0.13
Special Situations
29.63
-0.02 0.80
Strategic Bond
0.00 2.96
-10.46 1.14
0.12 1.53
204.62
0.45 4.07
-0.14
144.50
-0.40 1.25
0.19
Charity Fund
Enquiries 020 7214 1763
Japan B Acc
Amundi Funds
(LUX)
5 Allee Scheffer L-2520 Luxembourg + 44 (0)20 7074 9332
www.amundi-funds.com
FCA Recognised
-0.05 0.00
-0.07 0.00
3.69
-0.01 0.58
8.50
-0.01 0.00
38.40
-0.24 1.87
0.00 0.00
$ 25.66
-0.08 0.00
7.18
-0.07 6.82
-0.24 0.00
0.05 0.00
-0.83 0.00
0.09 0.00
-0.63 0.00
0.03 0.38
6.38
-0.03 7.00
10.17
-7.10 0.00
Gl. Macro Bds & Curr Low Vol AHG - GBP 98.78
-0.01 0.00
541.73
3.68 0.64
13.95
0.14 0.00
$ 25.77
-0.19 0.21
12.36
0.19 0.64
$ 646.32
6.18
649.37
6.25 0.00
(IRL)
Regulated
China A-Share A GBP Inc
Arisaig Partners
5.70
0.14 0.00
-0.13 0.00
-0.58 0.00
FCA Recognised
9.73
-0.17 0.00
-0.15 0.00
-0.09 0.00
-0.27 0.00
Barings (Luxembourg)
(LUX)
23.26
(UK)
40 Dukes Place, London, EC3A 7NH
Authorised Corporate Director - Capita Financial Managers
Order Desk and Enquiries: 0345 922 0044
Authorised Inv Funds
113.33
-0.25 0.00
78.79
-0.11
78.79
-0.11
-0.02 0.13
-0.29 0.46
19.30
-0.47 0.00
11.68
-0.06 0.16
239.99
1.47 1.64
90.88
0.59 2.96
561.30
-0.27 1.14
116.54
-0.99 1.32
100.19
SR 13.54
135.40
-0.02 1.39
-0.06 1.50
-0.18 1.22
0.00 0.00
0.00 0.00
NAV
482.14
(GSY)
Regulated
Equinox Russian Opportunities Fund Limited $ 110.69
-2.88 0.00
-0.02 0.00
-1.98 0.79
0.00 0.00
0.03 0.00
-7.66 0.00
Regulated
100.64
-0.58 2.98
-4.72 0.00
UK Equity B Acc
104.99
-0.12 1.76
-0.55 0.00
225.73
-0.18 5.31
-0.22 0.00
399.75
-0.22 5.32
-0.01 0.00
(CYM)
(UK)
125.99
-0.01 0.12
109.35
-0.29 2.07
3.44
-0.01 0.00
UK Smaller Companies
2.06
0.00 0.19
WealthBuilder A Acc
0.96
-0.01 0.64
1.08
0.00
1.08
0.01
1.06
0.00
1.04
0.00
Fidelity PathFinder
1.05
0.01
1.11
0.01
1.10
0.01
1.09
0.00
1.10
0.01
1.08
0.00
1.09
0.01
1.09
-0.01
1.06
0.00
1.05
0.00
1.06
0.00
1.02
-0.01
1.01
0.00
1.06
-0.01
1.02
0.00 3.97
0.37 0.00
1.02
0.00 4.86
0.23 0.00
1.02
0.00 3.72
0.11 0.00
1.03
0.00 4.71
0.18 0.00
(LUX)
Regulated
Davis Value A
$ 38.88
-0.71 0.00
Davis Global A
$ 27.11
-0.57 0.00
(UK)
138.33
-0.41 0.69
110.15
-0.45 2.54
Disc Inc
121.48
-0.16 0.35
Do Accum
108.49
-0.07 0.01
CF Richmond Core X
176.51
-1.43 0.00
209.05
-0.71 1.38
123.54
-0.42 1.42
122.38
-0.41 1.22
87.14
-0.24 5.61
103.28
-0.29 5.69
102.32
-0.29 5.69
Regulated
(LF) Absolute Return
1.29
-0.01 0.00
-0.07 0.00
(IRL)
1.25
RON 15.61
0.71
0.94
12.14
1.09
13.91
18.09
$
1.22
10.96
0.00
0.00 0.00
-0.01 0.00
-0.05 0.00
0.04 0.00
-0.02 0.00
0.11 0.00
-0.04
0.00 0.00
0.01
$ 26.57
-0.37 0.00
11.51
0.00 0.00
1.39
0.00 0.00
-0.06 0.00
-0.05 0.00
1.26
-0.02 0.00
-0.05 0.00
1.02
0.00 4.64
1.02
0.00 4.32
UK Growth
9.18
11.15
0.01 2.86
0.82
0.00 0.00
-0.05 3.07
11.57
0.03 0.00
8.88
(GSY)
Regulated
1103.00
-2.00 1.20
287.30
-1.40 0.84
UK Agricultural Class A
1.26
0.00 0.00
286.30
-1.40 0.07
UK Agricultural Class B
1.38
0.00 0.00
293.80
-1.40 0.80
161.80
-0.80 0.38
0.55
-0.17 0.00
-0.07 0.00
11.08
-0.04 0.53
20.01
-0.14 0.00
-0.05 0.00
-0.14 0.00
0.16 0.00
0.12 0.00
-0.12 0.00
9.74
-0.18 0.00
-0.44 0.00
-0.19 0.00
-78.42 0.00
0.01 1.88
2.84
0.03 1.17
3.31
0.01 2.17
2.05
0.01 3.46
1.34
0.01 5.18
UK
3.46
0.00 2.32
2.46
0.01 4.25
1.28
0.03 4.39
1.00
UK Specialist
MoneyBuilder Global
2.50
Asset Management
0.00 4.40
0.11 0.00
1.73
-0.25 0.00
1.36
10.89
-0.01 1.71
0.21 0.00
-0.08 0.00
1.08
1.00
26.58
American
-0.74 0.00
-0.01 3.37
Cash Fund
OEIC Funds
0.00 1.93
17.37
9.93
-0.03 0.00
2.03
-0.01 3.37
-3.00 0.61
UK Gilt Gross
-0.02 0.00
9.91
0.01 1.96
1061.00
-0.03 0.00
9.98
-0.01 3.37
1.28
-123.00 0.90
UK Gilt Bond
-0.02 0.00
-0.01 3.37
0.02 3.97
10.73
-0.22 0.00
0.01 2.10
0.00 3.85
0.01 4.60
$ 17.16
2.52
2.25
-0.08 0.00
Pan European
-2.00 1.40
0.00 2.02
-0.28 0.00
-0.03 0.00
3.36
-0.12 0.76
1069.00
3.25
4.00 2.22
-0.03 0.00
20.55
0.08 2.85
11.92
10.19
11.30
-0.27 0.00
0.04 0.00
3.31 2.25
14.05
-0.29 0.00
$ 12.62
236.04
0.00 2.79
0.00 3.98
-0.34 0.00
-0.04 0.00
0.82
1.22
$ 13.28
10.10
UK Corporate Bond
-0.04 0.00
EU Multi-Strategy Managed
3.19 2.26
BONHOTE
0.01 2.85
227.78
0.08 0.00
0.51
0.00 4.73
3.79
Long Bond
4.82
1.22
(IRL)
FCA Recognised
GAM Fund Management Ltd
Georges Court, 54-62 Townsend Street, Dublin 2 + 353 1 6093927
1.80
0.00 3.32
1.15
0.00 0.08
1.54
0.00 1.84
882.20
-7.50 0.00
134.40
0.00 0.31
167.60
0.10 0.00
124.60
-0.70 3.18
-0.34 2.70
77.36
171.50
0.00 0.00
148.80
-0.60 2.10
137.70
-0.50 2.12
220.50
-0.10 0.43
216.50
-0.10 0.42
126.70
-0.10 5.34
561.30
-2.00 0.00
146.70
0.10 0.00
UK Alpha A Acc
110.00
0.20 1.00
593.90
0.20 3.82
UK Index A Acc
470.00
1.00 2.63
UK Property A Acc
UK Property A Inc
UK Tracker A Acc
209.70
0.70 2.36
US Growth A Acc
749.70
-4.40 0.00
(IRL)
Hermes Investment Management Limited, 1 Portsoken Street, London E1 8HZ +44 (0) 207 680 2121
FCA Recognised
0.99 0.00
1.96 0.01
1.29
1.40
3.05
2.99
1.07
3.47
2.71
1.41
3.72
1.09
1.07
2.80
0.94
0.94 0.00
1.86
1.86 -0.02
0.99
0.99 0.00
1.03
1.21
1.18
2.95
1.26
2.96
1.60
4.81
0.94
0.94 -0.01
1.85
1.85 -0.03
1.54
3.31
Asset Management
4.98
-0.03 0.00
Guardian Assurance
Equity S-GH Class B
11.53
0.02
285.3
Choices Managed
Choices Equity
Freedom Managed
Freedom Equity
0.06 3.91
1.96
(UK)
Ballam Road, Lytham St Annes, Lancashire, FY8 4JZ 01253 733 151
Insurances
0.99
Guardian
-0.10 0.12
46.50
189.30
(GSY)
Asset Manageme
GAM Limited
-0.29 1.05
UK Multi-Strategy Managed
5.39 0.00
0.02 0.81
-0.17 0.00
94.66
1063.18
1.90
16.30
0.08 3.52
-34.30
1757.17
Japan
3.77 2.21
6.00 0.69
40.42
4.74
268.81
BlackRock UK Property
0.60 0.81
1222.00
Regulated
-12.70 0.44
0.00 4.62
0.09 0.71
752.90
-16.67
1.81
0.20 3.32
0.30 3.26
3111.07
PO Box 613, Generali House, Hirzel Street, St Peter Port, Guernesy, GY1 4PA 01481 714108
International Insurances
0.02 0.71
-0.30 0.00
145.20
-0.50 0.81
232.90
3.18
$ 15.23
-6.00 0.98
156.20
3.63 2.22
135.70
0.02 0.71
653.60
0.02 1.70
259.47
(UK)
PO Box 9023, Chelmsford, CM99 2WB Enquiries: 0800 832 832
www.henderson.com
Authorised Inv Funds
-37.06 0.00
3.54 0.58
2.64
-0.54 0.00
3720.32
2.68
252.37
(UK)
3.75 0.56
-0.05 0.00
137.52
Global Focus
267.62
0.22 1.28
0.30 3.05
9.24
0.24 1.26
-0.24 0.00
193.09
204.46
Regulated
110.11
-0.05 3.02
0.02 1.59
3.47 0.00
(IRL)
0.01 0.87
Regulated
248.04
Haussmann
3.91
8.95
-0.24 0.00
-0.50
Europe
0.04 0.56
109.66
-0.08 0.00
45.26
3.53 0.00
15.71
2.89
-0.53
3.77
251.77
0.03 2.96
71.42
-0.25 0.00
9.82
Emerging Markets
Other International
America
111.98
Asset Management
0.17 1.97
The Westchester X
6.07 0.00
97.98
-0.20 2.12
(IRL)
773.58
-0.27 0.00
(UK)
47.33
0.00
www.creditandorra.com
FCA Recognised
0.00 0.89
103.89
0.00
0.14 2.24
Portfolio VI B Acc
2.37
0.15 2.04
105.37
UK Select
$ 29.93
Portfolio V B Acc
106.74
0.00 0.51
-0.01 0.26
105.90
-0.01 0.29
Consistent UT Acc
Portfolio IV B Acc
0.55
Consistent UT Inc
(LUX)
0.00 0.30
1.34
0.48 0.94
0.00 0.27
1.26
0.10 0.00
72.83
0.50
-0.35 0.00
0.07 0.95
0.50
-0.41 4.92
Target 2030
0.00 2.96
Target 2025
DIFC, The Gate Building, West Wing Level 6, PO BOX 30727, Dubai UAE
Contact: Telephone + 971 4 363 4029 Email AMsales@EFG-HERMES.com
Other International Funds
94.90
0.31
Target 2015
Target 2020
0.34 4.02
106.76
47.20
(UK)
0.31
BlackRock
-0.22 0.00
(UK)
(UK)
European B Acc
-4.03 0.00
0.00 1.25
1.46
9.29
141.25
SFr 1281.32
762.71
-0.03 0.00
Haussmann Cls D
Balanced B Acc
0.00 0.82
9.88
0.00 1.99
Sterling Bond F
0.45
-0.02 2.06
-7.13 0.00
-0.50 1.24
-7.48 0.00
2416.90
1.41
151.00
Haussmann Cls C
1.03
(JER)
Barclays Investment Funds (CI) Ltd
39/41 Broad Street, St Helier, Jersey, JE2 3RR Channel Islands 01534 812800
FCA Recognised
Bond Funds
0.42 2.10
$ 2760.48
0.00 0.56
0.00 0.26
Haussmann Cls A
7.51
1.09
(IRL)
MultiManager Balanced
Property
Regulated
-0.32 6.43
0.01 0.36
EFG Hermes
1.33
0.00 0.00
(IRL)
0.01 3.72
-0.27 6.36
0.00 0.35
0.00 0.36
1.55
1.14
0.00 6.52
1.21
-1.01 0.00
0.01 0.00
1.21
-0.09 0.00
-0.30 6.67
-0.03 2.10
-0.08 1.57
18.53
1.21
Comgest Magellan
1.17
-0.36 6.60
-0.10 0.00
-0.09 2.26
(FRA)
Comgest SA
$ 33.98
2.34
(GSY)
1.57
61.84
0.00 0.25
0.00 0.28
1.10
-0.88 0.00
1.10
0.30
0.25 0.00
-0.1270 0.00
-0.1074 1.49
40.34
0.01 0.28
0.00 2.39
1.15
$ 12.1897
3.62
$ 10.3068
0.01 0.00
1.30 0.62
0.00 0.48
99.66
0.00 3.23
0.00 2.52
0.02 0.00
1.27
0.01 0.53
-0.22 0.00
(LUX)
0.35
0.00 3.23
FCA Recognised
0.35
0.00 2.29
1.51
(IRL)
CG Asset Management Limited
Northern Trust, George's Court, 54-62 Townsend Street, Dublin 2, Rep of Ireland
00 353 1 434 5098
FCA Recognised
0.29
0.01 4.49
2.49
0.01 2.45
MoneyBuilder Income
Regulated
5.16 0.01
0.00 4.15
0.73
5.16
0.01 0.53
Fleming Fund
-0.12 1.98
Property Inc
0.49
Unit Trust
1.16
0.72
(UK)
PO Box 55736, 50 Bank Street, Canary Wharf London E14 1BT
Enquiries 0117 90090000
www.hl.co.uk
Authorised Inv Funds
Hargreaves Lansdown Funds
7.23
MoneyBuilder Balanced
-0.06 2.44
Property Acc
MoneyBuilder Growth
(IRL)
0.02 0.00
0.03 1.22
(IRL)
Baring International Fd Mgrs (Ireland)
Northern Trust, George Court 54-62 Townsend Street, Dublin 2 Rep of Ireland 020 7214 1004
FCA Recognised
(UK)
1.84
1.73
2.67
0.01 3.35
0.03 0.00
0.03 0.00
0.46
0.01 2.01
2.57
1.09
-0.3901 0.00
0.04 0.00
1.00
Japan
-0.2914 1.68
0.04 0.00
2.39
0.01 1.89
0.01 1.75
22.3036
Regulated
(LUX)
(IRL)
27-31 Melville Street, Edinburgh, Edinburgh, EH2 4DJ +353 1 434 5143
Dealing - Fax only - +353 1 434 5230
FCA Recognised
Edinburgh Partners Opportunities Fund PLC
1.34
0.00 3.02
29.8591
ACQ Risk Parity Bond Fund EUR A 95.12 95.12 -0.02 0.00
Algebris Investments
1.18
1.14
Europ.RealEstate Sec. IX
-2.80 0.00
16.86 0.00
0.99 0.00
Managed (Life)
Index US P-Acc
$ 3125.88
13.07 0.00
0.01 1.34
-9.83 0.00
1.40
1.36
9.97
99.36
American One
146.10
$ 646.79
Far East
0.00 5.61
0.00 0.56
-0.50 1.86
0.20 4.14
Japan
1.16
(UK)
146.60
96.64
0.08 1.18
129.10
2.22 0.00
-0.01 0.00
(LUX)
1.90 2.15
$ 123.42
-0.01 0.00
Anglo Intl House, Bank Hill, Douglas, Isle of Man, IM1 4LN 01638 563490
International Insurances
0.60
193.40
0.54
0.00 1.19
0.00 0.00
International
-2.28 0.00
0.00 7.48
0.01 1.56
1.90 1.27
0.27
SFr 116.85
0.23
191.10
4.68 0.00
4.44
Fixed Int.
Deposit Accum
0.00 0.12
0.00 3.30
0.30 6.12
-2.40 0.00
0.00 3.30
0.42
106.00
124.75
0.00 7.14
0.26
0.26
1.82
European
6.77 0.00
UK Equity Acc
6.43
-4.72
Extra Income
0.00 5.34
Property Ser 5
244.16
0.00 0.75
-2.10 0.00
UK Equity Inc
4.01
135.80
Equity
254.00
0.00 1.00
Money Ser 5
-7.89 0.00
1.32
-0.02 0.00
$ 405.86
6.81 -0.07
6.47
1.30
Managed Ser 5
-0.05 0.00
0.03 0.25
American
13.58
3.61
International Ser 5
Pension Funds
0.00 0.16
European Opportunities
-0.01 0.00
0.81
(UK)
3.25 -0.01
-0.34 0.00
3.39
3.09
0.00 0.50
-0.18 0.00
European Ser 4
0.00 0.08
Regulated
Equity Ser. 4
4.03 -0.02
-2.30 0.09
0.00 0.30
3.83
267.00
-0.26 0.00
100.00
European
6.67 -0.03
-0.60 0.00
6.34
-0.16 0.00
Custodian Ser. 4
176.60
100.00
International Acc
(LUX)
0.80 0.00
Regulated
+/- Yield
-0.60 0.61
-5.55 0.00
(LUX)
Offer
Bid
315.08
Ashmore Sicav
Fund
182.30
+/- Yield
147.60
-0.30 0.00
Offer
American Ser. 4
Bid
Fund
-1.60 1.64
-3.61 0.00
+/- Yield
-0.80 0.00
Offer
348.69
Bid
Fund
149.50
-0.08 0.00
+/- Yield
156.90
(UK)
Offer
Bid
6.38
Fund
1.84
1.84 -0.03
Managed Acc
Equity Acc
Asset Management
(UK)
1.06 0.03
(UK)
-
Asset Management
28
FINANCIAL TIMES
Bid
Offer
+/- Yield
(IRL)
2.09
-0.01 0.00
1.97
-0.02 0.00
1.67
-0.03 0.00
7.57
-0.02 0.00
(IRL)
1 Hat & Mitre Court, 88 St John Street, London EC1M 4EL +44 (0)20 7566 1210
FCA Recognised
IVI European Fund EUR
17.03
-0.41 0.00
16.76
-0.33 1.03
(UK)
Fund
Bid
Offer
+/- Yield
Fund
Bid
Offer
+/- Yield
135.96
0.25 1.42
123.63
0.23 1.43
104.67
-0.40 3.86
100.02
-0.38 3.93
144.93
-1.36 1.67
JB Strategy Inc-USD/B
134.67
-1.26 1.70
194.74
-2.17 1.04
180.18
-2.01 1.05
233.50
-3.48 3.33
189.65
-2.83 3.41
58.84
-0.37 0.00
160.21
-0.97 1.36
58.83
-0.38 0.00
187.69
-0.92 1.79
Asia Acc
110.40
-0.80 0.35
178.50
-0.30 4.32
Asia Inc
61.27
-0.44 0.34
153.30
-0.27 4.45
67.31xd
0.08 0.21
228.71
-2.49 1.02
59.22xd
0.07 0.21
233.44
-1.77 0.77
50.49xd
0.09 1.07
223.06
-1.68 0.78
49.04xd
0.08 1.08
113.69
0.23 0.84
127.30
-0.40 0.81
170.56
-2.05 3.44
54.73
-0.20 0.82
125.40
-1.51 3.53
46.61xd
-0.32 5.69
219.24
-0.75 4.84
40.99xd
-0.28 5.88
-0.56 4.96
Europe Acc
999.20
4.90 1.56
57.52
0.29 1.56
155.90
1.40 0.84
163.43
174.27
2.56 1.34
Europe Inc
214.78
-3.61 4.18
170.02
-2.87 4.30
179.10
0.10 0.73
71.58
0.64 0.84
169.54
-2.07 3.27
-4.68 0.97
126.06
-1.54 3.35
464.10
4.50 0.00
Asian Inc F
351.58
-4.20 0.98
139.21
-1.74 0.78
60.36
0.58 0.00
53.48
-0.54 4.77
-1.89 0.00
53.29
-0.28 0.49
45.57
-0.46 4.90
94.15
-0.54 2.33
53.28
-0.28 0.49
51.45
-0.09 0.00
84.55
-0.49 2.35
53.03
-0.23 0.67
52.65
53.73
set Management
-0.12 0.00
184.58
-1.88 1.27
52.97
-0.15 0.13
169.75
-1.72 1.28
54.47
-0.26 0.49
Childrens Acc F
379.13
-7.48 1.82
183.35
-1.60 3.20
54.47
-0.25 0.49
206.02
0.29 3.62
151.53
-1.32 3.26
55.78
-0.33 0.50
89.13
0.12 3.72
168.87
-0.39 4.74
55.79
-0.33 0.50
183.57
0.25 3.64
-0.25 4.84
52.86
-0.15 2.46
88.83
0.12 3.73
107.03
166.04
-0.41 0.91
Distribution Acc F
106.76
-0.06 4.32
157.60
-0.39 0.99
122.07
-0.07 4.30
139.71
0.09 1.46
62.55
-0.04 4.40
0.08 1.48
Distribution Inc F
Distribution Inc (Gross) F
62.57
-0.04 4.40
119.13
155.79
0.01 2.43
50.57
52.60
-0.79 0.00
-0.16 0.67
52.25
-0.17 0.67
250.50xd
0.60 0.82
197.00xd
0.50 0.82
32.93
-0.34 3.00
131.09
0.01 2.48
49.02xd
-0.12 2.88
30.02
-0.30 3.08
378.32
-8.32 3.63
48.30xd
-0.11 2.92
785.30
-19.82 2.27
240.36
-5.29 3.71
65.06xd
-0.34 3.67
Fund
Bid
Offer
$ 10.91
-0.03 0.00
SFr 12.76
0.14 0.00
19.31
$ 14.74
112.31
0.00 0.00
SFr 128.79
0.00 0.00
109.77
-0.19 5.49
101.20
-0.18 5.70
10.27
0.00 0.00
130.46
0.12 2.83
$ 10.30
0.00 0.00
162.93
0.07 1.67
Sw.Fr.Bd(For) PA
SFr 23.68
0.01 0.00
SFr 13.60
0.00 0.00
SFr
9.99
-0.03 0.00
134.79
0.05 1.68
Sw.Fr.Credit Bd(For) PA
195.73
0.71 3.29
111.07
0.40 3.29
10.30
-0.03 0.00
169.25
-0.17 1.28
$ 14.82
-0.03 0.00
114.22
-0.62 4.15
Technology PA
13.26
0.07 0.00
52.35
-0.28 4.17
Technology PA
$ 20.08
0.10 0.00
159.18
0.48 2.95
116.63
0.35 2.95
69.61
0.22 3.04
31.09
0.09 3.04
178.55
-0.34 2.49
118.59
-0.23 2.49
118.92
-0.09 0.00
UK Equity A Acc
221.61
0.14 1.50
195.11
0.10 4.48
152.49
0.08 4.61
UK Opportunities A Acc
158.10
-0.18 1.42
272.50
-0.31 0.66
Inc.Pt.RMB Dt.USD PA
9.89
-0.03 0.00
9.35
0.01 0.00
Neubrg.Berman US Core PA
$ 13.41
0.05 0.00
Sands US Growth PA
13.50
-0.06 0.00
Sands US Growth PA
$ 16.32
-0.07 0.00
1076.55
0.46
15.11
0.24 0.00
1019.74
-0.84
$ 12.62
0.00 0.00
1034.71
-1.72
525.35
-3.03 3.74
1091.59
-6.27 4.23
557.19
0.86 2.49
1087.92
0.27
1040.93
0.26
1095.09
-2.84 0.89
621.37
-1.54 1.38
0.23 1.17
55.53xd
-0.54 0.61
159.05
79.65
0.15 1.18
47.93xd
-0.47 0.60
148.93
0.29 1.38
Charifund Acc
51.99
-0.20 4.48
49.66xd
-0.08 6.65
105.79
-1.50 3.78
46.73xd
-0.08 6.68
155.73
-2.22 3.69
Japan Acc
273.80
1.60 0.00
127.23
-0.38 0.81
Japan Inc
65.91
0.39 0.00
120.91
-0.37 0.81
62.70xd
-0.26 4.25
122.60
0.58 3.44
83.12xd
-0.35 3.85
109.45
0.51 3.44
62.89xd
-0.27 3.94
67.09
0.30 0.00
67.10
0.30 0.00
690.20
1.40 0.48
644.20
1.30 0.48
328.30
-4.60 0.12
1526.84
-11.55 0.21
56.30
0.12 0.29
798.19
440.31
-9.64 3.45
-5.32 3.53
105.87
-0.36 4.86
123.34
-0.42 4.83
42.37
-0.14 4.98
42.45
-0.15 4.98
439.75
6.47 0.80
912.96
-15.39 4.19
396.09
-6.67 4.31
Income Acc F
3087.54
-37.74 3.29
Income Inc F
1743.83
-21.32 3.36
Japan Acc F
293.18
-3.68 0.31
61.13
-0.75 0.00
97.44
-0.56 1.53
81.11
-0.47 1.54
152.33
-1.55 0.73
126.82
-1.29 0.73
153.07
-1.35 3.21
94.33
-0.82 3.27
Money Acc F
90.13
0.00 0.22
95.25
0.00 0.22
292.99
-0.69 4.76
344.01
-0.80 4.73
108.67
-0.26 4.85
108.85
-0.25 4.85
Pacific Acc F
895.70
-2.22 0.40
Pacific Inc F
822.68
-2.05 0.40
68.30
0.05 0.97
59.44
0.04 0.97
70.83
0.05 0.97
59.53
0.05 0.98
UK Aggressive Acc F
189.50
0.02 1.87
UK Aggressive Inc F
157.81
0.01 1.90
UK Growth Acc F
518.56
-10.43 1.90
UK Growth Inc F
329.00
-6.61 1.93
850.77
-9.88 0.80
651.50
-7.57 0.80
180.26
-1.62 3.48
135.12
-1.22 3.57
US Equity Acc F
506.46
-2.16 0.00
0.00 0.00
-0.01 0.00
7.06
-0.14 0.00
0.00 0.00
5.51
-0.01 0.97
-0.04 0.00
-0.22 0.00
-0.07 2.19
8.98
0.00 3.07
$ 35.55
0.06 0.00
-0.07 0.00
-0.09 0.76
-0.01 0.00
3.55
-0.11 0.00
$ 41.64
-0.85 0.00
$ 52.10
0.60 0.00
15.00 0.00
5.00 0.00
5.66
-0.10 0.00
1.00 0.00
-0.06 0.00
-0.03 2.20
-0.06 0.00
-0.10 0.00
-0.14 0.00
30.74
0.98
0.00 2.93
$ 20.40
-0.01 0.00
$ 29.59
$ 87.02
-0.04 0.00
0.00 0.00
Invesco Stlg Bd A QD F
2.59
0.00 3.37
5.79
-0.11 0.55
$ 86.04
-1.44 0.44
Invesco Bond A
$ 27.04
-0.01 2.20
$ 13.92
0.05 0.00
Asian Property AX F
10.26
-0.02 0.54
Northwest $ class
$ 2338.93
7.42 0.00
30.24
-0.06 0.00
$ 1969.35
-444.40 0.00
-0.08 0.00
-0.48 0.00
Prudent Wealth Fd A1
$ 14.26
-0.13 0.00
0.04 5.78
$ 32.41
-0.30 0.00
Research Bond A1
$ 16.59
0.05 0.00
UK Equity A1
7.56
-0.17 0.00
Euro Bond A F
15.65
0.00 0.00
US Conc.Growth A1
$ 14.48
-0.22 0.00
21.73
0.20 1.71
US Government Bond A1
$ 17.10
0.06 0.00
43.14
-0.05 0.00
-0.26 0.00
-0.04 0.00
-0.19 0.00
$ 20.64
(GSY)
Regulated
Multi-Manager Investment Programmes PCC Limited
European Equity Fd Cl A Initial Ser 2474.30 2484.22 -156.09 0.00
Japanese Equity Fd Cl A Initial Ser 354917.00 354918.00 -19669.00 0.00
MMIP - US EQUITY CLASS A 01 June 07 Series $ 1241.53 1245.22 -101.80 0.00
(UK)
PO Box 9039, Chelmsford, CM99 2XG
www.mandg.co.uk Enq: 0800 390 390, Dealing: 0800 328 3196
Authorised Inv Funds
1385.22
Charifund Inc
2.89 4.92
18798.10
39.25 4.78
62.41
0.08 3.08
UK Equity Fd Cl A Series 01
-35.49 0.00
-35.29 0.00
(UK)
9.49 0.00
0.33 0.97
312.07
-0.33 0.00
140.29
1.15 0.07
871.69xd
4.53 0.58
Emerging Markets
211.72
-1.93 1.80
1.6130
-0.0040 3.05
179.62
0.38 3.51
151.62
0.52 0.00
70.44
0.81 0.00
262.40
2.10 0.20
North American
14.8200
-0.0800 0.19
105.84xd
1.01 0.87
149.99
-1.81 1.99
0.0040 3.62
73.44xd
0.70 0.87
Global
0.0060 1.38
49.12xd
-0.25 4.34
0.0050 1.92
1.2290xd
0.0050 1.92
Monthly Share
72.04
-0.59 4.33
0.17 0.72
155.30
-0.33 4.34
-0.0210 0.00
104.56xd
0.06 2.73
871.00xd
1.30 4.30
$ 1.3460
-0.0220 0.00
178.52xd
1.25 1.43
Junior Oils
506.20xd
0.70 4.44
420.45xd
2.95 1.42
20.87
-0.32 0.00
62.39xd
0.22 2.14
111.74
-0.33 0.09
148.61
-0.86 0.19
52.62xd
0.18 2.16
110.14
-0.32 0.09
MFM Bowland
387.10
0.20 0.00
Dealing Daily
-0.36 0.00
(UK)
(LUX)
Charibond
(Accum Units)
NAACIF
124.03
0.26 5.21
3623.43
7.65 5.21
72.53
0.15 4.76
0.01 0.00
0.01 0.00
11.24
0.01 0.00
13.43 4.63
(GSY)
10.98
0.00 0.00
Regulated
The M&G Offshore Fund Range
SFr 13.72
0.00 0.00
Corporate Bond
1305.00
-1.00 0.00
Global Basics
$ 15.73
0.01 0.00
Global Leaders
Alternative Beta PA F
SFr 115.00
0.14 0.00
Alternative Beta PA F
77.60
0.10 0.00
Alternative Beta PA F
$ 116.07
0.15 0.00
Commodities (CHF) PA
SFr
5.28
0.02 0.00
Commodities (EUR) PA
5.35
0.02 0.00
Commodities (USD) PA
5.53
0.02 0.00
0.01 0.00
Convertible Bd Asia PA F
SFr 13.42
-0.03 0.00
UK Growth
-0.18 4.87
Convertible Bd Asia PA F
14.30
-0.04 0.00
-0.01 0.20
Convertible Bd Asia PA F
$ 14.40
-0.04 0.00
15.06
0.07 1.46
GAM
SFr 11.47
-0.06 0.00
-0.50 0.00
funds@gam.com, www.jbfundnet.com
Regulated
11.61
-0.06 0.00
-0.06 5.46
JB BF ABS-EUR B
104.82
0.00 0.00
$ 11.59
-0.05 0.00
-0.02 0.94
110.17
-0.21 0.00
7.66
0.02 0.00
$ 114.96
-0.72 0.00
5.99
-0.09 0.00
356.97
-1.35 0.00
306.67
-0.15 1.44
0.07 3.81
(CYM)
Regulated
Marwyn Value Investors
517.78
-17.91 0.00
(UK)
3755.50
1.01
0.00 4.35
125.29
0.22 0.00
1.35
0.01 0.28
$ 147.54
0.49 0.00
1.33
0.01 0.49
121.30
0.63 0.00
105.54
4.23 0.00
1.99 0.00
NatWest (2230)F
0.10 2.59
-0.17 3.92
0.02 3.19
12.56
0.05 0.68
-0.11 0.58
1531.70
-9.60 2.55
3433.50xd
-3.00 1.80
-4.06
-1.82
95.26
-0.73
104.75
-0.18 0.16
$ 17.31
0.03 0.00
JB BF EM Corporate-USD B
$ 106.94
-0.24 0.00
Emerg.Loc.Cur.Bd.Fdt PA
10.74
0.10 0.00
9760.00
-170.00
107.16
-0.24 0.44
$ 32.37
-0.88 0.00
JB BF EM Infl Link-USD B
$ 78.02
-1.23 0.00
Emerg.Loc.Cur.Bd.Fdt PA
8.35
-0.06 0.00
Blend.Research Gb.Eq.Fd.
$ 96.07
-1.62
109.35
-0.31 0.59
$ 48.76
-1.04 0.00
JB BF EM Inv Grade-USD B
$ 98.41
-0.55 0.00
SFr 15.43
-0.02 0.00
Em.Mk.Eq.Fund Euro
105.40
-1.06 0.00
163.32
0.23 3.89
$ 44.04
-0.50 0.19
JB Emerging (EUR)-EUR B
328.92
-2.50 0.00
12.25
-0.02 0.00
Em.Mk.Eq.Fund Sterling
89.91
-0.58 0.00
117.49
0.16 3.98
$ 15.11
0.02 0.00
JB Emerging (USD)-USD B
$ 401.28
-3.29 0.00
10.82
-0.02 0.00
Em.Mk.Eq.Fd.US Dollar
$ 89.62
-1.41 0.00
163.67
-0.10 4.31
Invesco UK Eqty A
0.00 1.37
7902.00
84.00 6.15
109.17
-0.06 4.39
JB BF Total Ret-EUR B
97.86
68.45
-0.70 3.60
60.49
-0.62 3.71
JB EF Euro Value-EUR B
138.56
-3.49 2.78
$ 17.39
-0.02 0.00
-0.33 0.00
Euro Credit Bd PA F
12.83
-0.02 0.00
9492.00
24.00 6.45
120.34
-0.32 0.00
12.45
-0.02 0.00
Gb.Conc.Eq.Fd.Euro
261.36
-3.52 0.00
167.52
-6.47 0.00
11.91
-0.01 0.00
Gb.Conc.Eq.Fd.Sterl.UK T
158.53
-1.55 0.00
JB EF Japan-JPY B
16487.00
-383.00 0.00
18.05
-0.02 0.00
Gb.Conc.Eq.Fd.Sterling
240.08
-2.35 0.00
JB EF Luxury B-EUR B
213.78
-4.01 0.00
11.18
0.09 0.00
Gb.Conc.Eq.Fd.US
$ 184.25
-3.44 0.00
Invest AD
131.78
-2.28 0.80
50.59
0.21 0.00
173.03
-2.90 0.00
JB Strategy Balanced-CHF/B
SFr 145.34
-1.64 0.00
Fdmt.Eq.L/S SH Sd EUR PA
11.04
-0.05 0.00
245.26
-4.11 0.00
JB Strategy Balanced-EUR
149.95
-1.50 0.00
Fdmt.Eq.L/S SH Sd USD PA
$ 11.06
-0.04 0.00
Gb.Eq.Fund Euro
266.36
-3.83 0.00
JB Strategy Balanced-USD/B
$ 125.97
-1.23 0.00
Gbl.Gvt.Fdmt PA
10.38
0.04 0.00
168.48
-2.42 0.00
SFr 88.14
-1.38 0.00
Gbl.Gvt.Fdmt.(CHF) PA
SFr 22.65
0.00 0.00
Gb.Eq.Fd.Sterling UK T
195.35
-2.09 0.00
SFr 26.56
-0.03 0.00
Gb.Eq.Fd.US Dollar
$ 296.42
-5.92 0.00
110.58
-1.56 0.00
Gbl.Gvt.Fdt.SH (CHF) PA
JB Strategy Inc-CHF/B
SFr 117.51
-0.77 0.00
11.71
0.07 0.00
Gb.Eq.Fund Sterling
193.20
-2.07 0.00
JB Strategy Inc-EUR/B
156.96
-0.84 0.00
SFr 10.42
0.02 0.00
Gb.Val.Ex-Jap.Fd.USD
$ 110.61
-1.99 0.00
11.00
15.75
13.53
$ 240.66
-2.89
$ 501.03
-3.56 0.00
$ 117.28
-0.07 0.00
-0.39 0.65
-0.02 0.17
-0.01 0.55
-0.33 1.40
11.18
0.11 2.59
-0.18 3.86
9.65
Metage Capital
18.73
$ 175.96
(LUX)
-3.02 0.00
9.43
(UK)
4.40 2.98
Blend.Research Gb.Eq.Fd.
0.11 1.81
0.03 0.00
0.34 0.00
2305.70
151.25
8.11
0.01 3.19
0.06 0.68
-0.11 0.80
The initial charge you will pay will depend on the amount you invest
**Address and Telephone number for series 1 only
(LUX)
www.mirabaud.com, marketing@mirabaud.com
Regulated
134.58
-1.12 0.00
$ 113.71
-0.76 0.00
$ 161.51
-3.69 0.00
-1.47 0.00
$ 834.23
-144.87 0.00
$ 1571.74
20.62 0.00
-0.18 0.00
$ 117.23
0.74
Optima Fd NAV
$ 92.59
0.30 0.00
-1.06 0.00
$ 28.73
0.40 0.00
Platinum Fd Ltd
$ 82.68
0.86 0.00
16.07
0.17 0.00
$ 52.32
0.41 0.00
$ 14.42
0.06 0.00
$ 16.47
0.03 0.00
6.63
0.18 0.00
Distribution Units
215.33
(IRL)
www.odey.com/prices
FCA Recognised
Emerg.Loc.Cur.Bd.Fdt PA
-2.53 0.73
0.00 4.47
-0.39 1.79
-0.49 0.00
230.11
0.93
127.63
0.00 0.00
JB Strategy Growth-EUR
-0.33 3.40
0.00 0.00
JB Strategy Growth-CHF/B
1.16
0.15 0.00
1.74
1.03 0.67
0.01 0.00
8.40 1.97
171.93
-0.94 4.89
0.98
-0.33 0.71
-2.42 0.00
-0.28 0.53
93.23
17.14
-0.02 0.00
$ 1517.45
-0.02 0.00
-1.10
0.00 0.00
97.74
1.08 0.66
0.97
9.07
Blend.Research Gb.Eq.Fd.
-3.41 0.00
0.01 0.00
181.17
12.95
7.85
-0.30 0.00
0.00 1.67
-0.38 0.00
1.35
0.47 3.44
-1.95 0.00
-0.38 0.00
129.00
-0.38 0.42
JB BF Abs Ret-EUR B
117.40
-0.06 0.00
-4.98 0.00
14.96
0.66 3.39
-6.13 0.00
$ 12.53
256.86
-0.33 2.89
160.91
332.16
-1.10 4.76
0.88 3.59
(UK)
Natixis International Funds
Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA 0044 20 3216 9000
Authorised Funds
18.51
Tudor House, Le Bordage, St Peter Port, Guernsey, CI, GY1 1DB +44 1481 71520
FCA Recognised
(IRL)
FCA Recognised
FCA Recognised
8.71 0.00
8.78
109.41
SFr
42.95 0.00
Loomis Sayles Global Opportunistic Bond R/D (GBP) 13.48 13.48 0.12 1.13
-2.58 0.01
162.45
11.32
-1.04 0.16
Property Portfolio X
$ 11.09
131.91
Property Portfolio A
119.64
0.01 0.00
0.01 0.00
$ 17.61
SFr 17.43
0.27 0.18
6414.60
0.01 0.00
(Accum Units)
-0.62 0.00
301.11
93.59
4466.83
US Multi-Cap Income
1.7290
US Inc
9.36 0.00
0.03 2.74
Aggressive Strategy
11.99
0.25 3.42
$ 418.28
72.82xd
0.50 3.35
-2.60 0.00
4.46 0.00
-0.0110 1.32
676.20
197.44
80.12xd
US Acc
7.86 0.00
Loomis Sayles Multisector Income R/D (GBP) 12.95 12.95 0.05 4.60
136.40xd
0.00 1.23
19.90 0.00
347.94
101.40
905.87
1.4330
0.04 0.76
Growth Strategy
www.loim.com
Regulated
Lombard Odier Funds
45.78 0.00
0.10 1.21
259.26
1.0870
$ 2093.37
Conservative Strategy
108.70
0.0000 1.97
0.40 1.53
4.53 0.00
Loomis Sayles Strategic Alpha Bond Fund H-N/D(GBP) 98.78 98.78 -0.05 0.90
127.10xd
0.18 3.79
213.38
UK Dynamic Inc
390.96
0.02 0.76
0.0000 0.15
(CYM)
Regulated
OEI Mac Inc GBP A
7.31 0.19
115.46
Sterling Class
0.50 1.52
95.53xd
-0.23 1.94
155.40xd
0.20 3.71
-0.17 1.94
UK Dynamic Acc
0.03 0.00
8.68 0.00
0.14 3.21
$ 412.22
186.73
0.80 3.21
75.16
142.43
50.44
146.00xd
267.50
52.5970
115.20xd
-0.19 0.00
116.36
110.64
-0.67 0.00
Defensive A Inc
-1.79 1.57
$ 64.62
2.98 0.63
1.12 3.50
42.81
US Property A F
0.0500 2.44
149.05
US Growth AX F
-0.12 1.91
573.87xd
142.89
-1.08 0.00
12.3000
-0.21 0.00
-1.96 1.56
-2.95 2.86
45.71
9.30
$ 65.70
US Growth AH F
-0.13 0.33
3624.97
163.92
117.03
US Growth A F
-0.11 0.00
701.59
0.00 0.00
0.00 0.32
6.3740
$ 247.87
$ 13.03
$ 11.54
1.4710
JB BF Local EM-USD B
US Dollar Liquidity A F
7.70
-0.01 0.00
-0.03 2.31
50.00
17.25
-0.24 0.00
Cautious Inc
20.36
$ 10.98
12.22 4.53
Convertible Bd P A
$ 131.79
-0.06
UK
-0.25 0.00
5706.44xd
Sterling Bond
0.09 0.00
0.11 2.58
$ 37.20
-0.35 0.00
PO Box 311, 11-12 Esplanade, St Helier, Jersey, JE4 8ZU 01534 845555
Other International Funds
0.17 2.58
(UK)
$ 34.89
Indian Equity A F
Cash
-0.09 0.00
-0.35 0.24
1.50 4.65
51.76xd
-0.82 0.00
-0.18 0.00
0.00 0.49
82.37xd
$ 26.85
697.37xd
98.38
$ 41.98
Global Property A F
1.00
$ 26.01
Extra Income
-3.20 0.00
-1.83 0.99
0.09 0.00
Bond Income
375.40
-0.03 0.00
Balanced
168.87
$ 92.14
-0.23 3.78
-0.80 0.00
$ 38.62
Global Brands A F
-0.27 3.71
-0.0150 1.18
-0.80 0.00
Global Bond A F
Regulated
Oasis Global Investment (Ireland) Plc
3.8020
-0.06 0.00
111.44xd
International
103.80
132.86xd
-0.33 2.80
105.10
10.82
US Select Inc
0.06 0.00
30.36
US Select Acc
(UK)
40 Dukes Place, London, EC3A 7NH
Order Desk and Enquiries: 0345 300 2106
Authorised Corporate Director - Capita Financial Managers
Authorised Inv Funds
-0.35 2.26
34.45
0.04 1.87
European Multi-Cap
-1.13 2.30
(IRL)
41.71
European Property A F
ETF Commodity A
49.86xd
(UK)
Marlborough Fd Managers Ltd (1200)F
Marlborough House, 59 Chorley New Road, Bolton, BL1 4QP 0808 145 2500
www.marlboroughfunds.com
Authorised Inv Funds
0.30 3.58
0.01 0.00
0.16 4.56
-1.91 0.98
96.22xd
0.02 4.73
93.69xd
9.30
Lloydstrust Gilt
39.45
58.01
0.09 0.00
7.44
11th Floor, Kinwick Centre, 32, Hollywood Road, Central Hong Kong +852 9084 4373
Other International Funds
581.07
Invesco Gilt A
-0.18 0.00
0.05 3.08
8.43
174.78
-1.85 0.00
$ 16.97
$ 74.86
142.78
-0.40 2.23
Asian Property A F
115.84
-0.03 0.00
112.80xd
-1.73 0.00
0.01 0.00
0.0015 5.00
-1.88 0.00
16.98
-0.27 0.00
-0.0220 1.40
107.33
-0.43 0.00
-0.04 3.08
$ 119.38
$ 14.04
$ 24.81
Limited Maturity A1
0.8651
57.13xd
Asian Equity A F
-0.14 0.00
7.0120
-0.25 0.00
High Income
-0.04 3.08
European
9.35
-1.40 2.84
68.46xd
-0.25 0.00
$ 11.42
-0.33 0.12
-0.10 0.71
-25.52 0.00
Japan Equity A1
23.25
191.90
Asset Management
127.70
(IRL)
Inflation-Adjusted Bond A1
Portfolio Acc
-0.12 3.37
Value A1
121.02
322.79
Global Res.A1
-0.03 0.00
-0.02 0.00
-0.23 6.70
-12.10 0.21
Asset Management
$ 110.44
-0.58 0.00
37.46xd
1598.99
-0.07 0.00
-0.25 0.00
0.15 1.18
0.05 0.00
-0.01 0.00
-0.11 3.39
$ 39.53
79.75
$ 55.59
113.50
US Advantage A F
0.03 0.00
-0.61 6.70
-0.25 0.00
-0.14 0.00
-0.23 6.73
-0.97 0.49
-0.12 3.58
88.94
16.13
97.88xd
108.10
$ 15.10
37.33xd
Global Multi-Asset A1
0.02 0.00
-16.72
0.00 0.00
0.24 1.17
$ 17.46
-0.01 0.00
-2.07 0.23
Invesco Energy A
-0.12 3.66
-0.13 5.03
-0.15 4.84
112.86
10.32
128.74
10.21
187.50
75.64
-15.55
91.51
(LUX)
Morgan Stanley Investment Funds
6b Route de Trves L-2633 Senningerberg Luxembourg (352) 34 64 61
www.morganstanleyinvestmentfunds.com
FCA Recognised
-0.11 0.92
-0.11 3.82
-0.16 0.00
-0.29 0.00
39.04
-0.18 0.00
108.87
$ 24.58
-0.89 0.04
9.00
-16.90
0.81 0.00
210.75
-0.06 7.07
-0.16
-0.13 4.47
132.85
0.52 0.16
-2.92 0.00
Growth (EUR) PA F
75.27
-0.87 0.00
86.60
-3.21 0.00
$ 188.57
-0.15 0.00
-2.00 0.91
205.73
24.56
$ 42.98
686.40
6.81
Global Equity A1
7.76
-0.16
Global Equity A1
-4.82 3.55
0.44 0.00
-3.07 0.00
-0.01 0.00
536.40
-0.15 4.34
195.95
0.51 0.16
87.65
9.82
-0.83 0.00
SFr 110.67
84.57
0.00 0.00
-0.17
Growth (CHF) PA F
2.45 0.00
-0.40 0.15
-0.74 0.00
-3.16 0.00
-0.18 0.00
-5.40 0.16
-1.37 3.43
-0.69 0.00
30.94
$ 204.50
$ 12.23
91.74
29.85
European Res.A1
70.05
European Core Eq A1
0.08 0.00
942.50
-1.69 3.34
-0.45 0.00
-0.17
-0.15 0.00
-0.16
113.48
112.96
16.61
Conservative (EUR) PA F
-6.42 3.47
European Concentrated A1
9.96
-0.16 0.00
-2.99 0.00
2.17 0.00
-2.96 1.32
-1.61 0.00
-0.14 0.00
-0.22 1.55
$ 32.87
-0.45 0.00
-3.01 0.00
SFr 108.53
130.55
$ 10.82
715.50
16.48
SFr 109.62
0.00 0.00
255.35
$ 12.24
-0.09 0.00
-0.46 0.00
$ 10.37
9.02
0.23 3.45
-4.48 0.51
155.02
0.02 0.00
0.31 3.40
China Equity Fd A1
-0.49 0.00
400.22
0.03 0.00
SFr 103.32
$ 166.17
Conservative (CHF) PA F
57.02
-0.23 0.20
$ 10.40
-0.52 0.00
2.62 0.00
0.31 1.36
Bond A1
-0.36 0.00
(UK)
-0.24 0.00
177.04
116.26
9.83
-0.17
$ 122.71
9.76
$ 21.84
0.17 0.00
-0.65 0.00
(IRL)
FCA Recognised
-0.32 3.62
SFr
Asia ex-Japan A1
(IRL)
$ 34.42
111.17
Global Conc.A1
0.04
1.06 0.00
0.47 0.00
Asset Management
-
-1.78
0.04 0.00
109.79
-0.13
$ 142.06
123.61
$ 91.41
1.04 0.00
Balanced (EUR) PA F
CNH 101.63
$ 24.19
1.07 0.00
Inc.Pt.RMB Dt.CNH PA
0.04
$ 138.43
$ 138.61
78.14
-0.24 0.00
142.20
-0.12
-0.72 0.00
-4.93 0.51
9.66
+/- Yield
-3.21 1.30
-1.87 1.05
$ 23.97
Offer
34.06
-0.19 0.00
Bid
European Value A1
276.79
(IRL)
Fund
0.26 0.00
441.48
7.27
19.77
+/- Yield
0.05 3.75
199.54
116.99
Absolute Return A1
(LUX)
Offer
SFr 106.37
0.06 3.67
-0.23 0.00
Bid
Balanced (CHF) PA F
LO Selection
-0.13 3.79
9.13
Fund
Asset Management
SFr
PrivilEdge
59.24xd
-0.82
67.99xd
$ 13.82
-163.00
97.63
-2.08 1.04
8983.00
-2.25 2.49
0.02 0.00
221.28
0.02 0.00
112.15
-1.72 0.00
0.00 0.00
$ 20.13
0.43 3.60
$ 97.35
0.54 3.51
2.91
Gb.Val.Fd.USD
0.00 0.00
-1.34
-0.19 4.50
53.73
-0.19 4.49
FCA Recognised
$ 95.95
69.41
-0.90 0.00
0.02 0.00
49.69
107.17
-0.24 3.75
49.67
Gb.Val.Fd.Sterling
14.52
0.30 0.00
46.86xd
-1.47 0.00
-0.45
-2.76 2.44
-0.20 4.47
-289.00 0.00
121.30
95.16
137.05
52.60
13056.00
Gb.Val.Fd. Euro
Gb.Val.Ex-Japan Fd.Yen
+/- Yield
0.02 0.00
-16.76 2.32
(LUX)
Offer
Invesco
Bid
Fund
SFr 21.36
664.42
6.71
+/- Yield
-0.14 2.48
+/- Yield
-0.23 0.69
Asset Management
$ 144.31
Asset Management
391.44
Offer
Asian Acc F
155.62
Bid
(UK)
Fund
$ 84.20
$ 98.31
-1.58 0.00
-1.18 0.00
24.97
-0.73 0.00
SFr 306.80
-6.95 0.00
$ 108.52
-0.43
-1.64 0.00
-0.43 0.00
$ 104.74
(IRL)
$ 90.49
-0.29 3.32
$ 92.35
-0.30 2.57
85.31
-0.28 3.44
www.permal.com
Other International Funds
Offshore Fund Class A US $ Shares
88.32
-0.29 3.90
$ 5501.67
-210.54 0.00
$ 88.83
-0.29 3.27
$ 4245.42
47.63 0.00
$ 94.18
-0.30 0.00
$ 378.88
-8.07
$ 99.17
-0.32 4.01
$ 169.53
2.94 0.00
165.59
-4.24 1.40
176.00
-4.48 1.77
$ 165.30
-4.20 1.31
136.50
1.05 0.00
29
FINANCIAL TIMES
Bid
Offer
+/- Yield
Fund
(LUX)
+/- Yield
-0.40
IGV - Inc B
315.10
-0.10 1.59
126.80
-0.30
IGV - Acc X
385.50
-0.10 1.88
$ 21.89
-0.36 0.00
-3.17 0.00
160.20
-0.40
IGV - Acc Y
413.20
-0.10 2.37
$ 27.06
0.04 0.00
Flex-o-Rente (EUR)
109.70
0.36 0.00
185.40
-0.60
IGV - Acc Z
383.10
-0.10 1.60
17.20
0.08 0.00
0.15 0.00
-0.01 0.00
171.63
-2.45 0.00
193.80
-1.20
206.70
-0.80 1.21
$ 191.80
-2.72 0.00
153.60
-0.90
2081.00
-2.00 1.84
1627.00
-6.00 0.00
-2.16 0.00
Pictet-EUR Bonds-I F
549.91
1.60 0.00
0.06 0.00
0.09 0.00
228.08
-6.25 0.00
-0.22 0.00
161.36
0.94 0.00
-0.50 0.00
-1.06 0.00
-4.14 0.00
$ 432.97
-10.38 0.00
$ 279.28
-3.88 0.00
-2.57 0.00
-1.79 0.00
$ 95.26
$ 430.45
0.07 0.00
15381.69
-321.79 0.00
-200.71 0.00
-312.36 0.00
$ 49.12
18.52
-0.38 0.43
22.10
-0.55 0.00
13.73
-0.03 0.00
17.50
-0.03 0.00
-0.58 0.72
10.79
-0.57 0.00
-18.38 0.00
-2.00 0.00
-0.41 2.89
0.15 5.36
-0.07 0.00
-5.24 0.00
(UK)
160.72
-0.19 0.00
-0.27 0.00
-4.42 0.00
$ 117.72
5.47
0.00
12.81
9.41
9.84
0.11 2.59
0.06 0.68
-0.16 3.92
-0.11 0.54
0.01 3.19
(IRL)
Biotechnology I USD
$ 12.14
-0.23 2.11
-0.11 0.00
9.26
8.33
9.43
9.26 -0.25
-0.09 0.00
3.89
-0.02 0.00
$ 21.79
-0.37 0.00
$ 40.45
1.70
-0.57 0.00
Japan I JPY
1994.45
-41.76 0.00
-0.41 3.40
UK Specialist Equity
18.73
-0.39 1.79
23.05
-0.57 0.65
14.49
-0.02 0.55
18.31
-0.04 0.17
-0.58 1.40
234.40
0.30
201.30
0.30
141.60
0.20
158.50
0.50
87.15
0.30
161.50
0.60
277.00
0.80
321.30
0.90
213.80
0.60
Managed OEIC
Glob Em Shs Port Acc Ret
147.10
-0.70
248.10
-0.50
178.20
-0.30
144.10
-0.30
231.40
0.40
164.00
0.30
265.10
-1.30
190.30
-0.90
138.70
-0.70
205.60
0.20
(UK)
5th Floor, Churchgate House, 56 Oxford Street, Manchester M1 6EU 03456 057777
Authorised Inv Funds
194.50
0.20
165.20
0.20
150.90
0.10
-0.18 3.85
0.01 3.19
-0.11 0.77
1.52
0.00 2.02
164.10
-0.40 0.70
440.60
-0.70 0.86
(UK)
40 Dukes Place, London EC3A 7NH
Order Desk and Enquiries: 0345 601 9610
Authorised Inv Funds
Authorised Corporate Director - Capita Financial Managers
1.53 0.00
151.85
-3.02 0.00
76.81
0.55 0.00
-2.44 0.00
76.08
0.54 0.00
$ 47.57
-1.27 0.00
377.91
-0.28 0.06
$ 39.81
-0.77 0.00
Pictet-Security-I USD F
$ 193.51
-3.04 0.00
Pictet-Select-Callisto I EUR
105.83
-0.39 0.00
-22.76 0.00
Pictet-ST.MoneyMkt-I
140.49
0.00 0.00
348.55
-0.26 0.06
347.38
-0.27 0.00
374.38
-0.30 0.00
European C Acc
510.79
1.26 0.23
European O Acc
506.06
1.22 0.00
172.66
-0.14 0.00
170.83
-0.15 0.00
0.00
147.10
0.00
152.50
0.20
152.70
0.20
146.50
0.30
262.00
-0.80
208.90
-0.70
-0.20
150.10
-0.20
-0.90 0.00
-2.13 0.00
-0.65 0.00
$ 145.89
150.53
-0.56 0.00
(IRL)
$ 14.87
-0.06 0.00
6.39
-0.07 0.00
-0.05 0.00
$ 19.26
-0.07 0.00
-0.09 0.00
8.34
-0.15 0.00
9.44
-0.07 0.00
156.78
-0.44 0.00
PCG C X
154.66
-0.43 0.00
(IRL)
Regulated
Putnam New Flag Euro High Yield Plc - E 1009.16
-3.84 4.30
-0.35 0.00
-0.07 0.00
-0.11 0.00
0.09 0.00
14.66
0.03 0.00
Income Inc
12.87
-0.03 0.00
Income Acc
0.32 0.00
116.29
-0.13 0.00
-0.01 0.00
144.00
-0.03 1.41
13.28
0.05 0.00
152.18
-0.04 1.40
12.28
0.00 0.00
125.29
-0.11 1.88
0.54 0.00
137.29
-0.04 0.00
Recovery Inc
8.36
-0.05 0.00
Recovery Acc
$ 27.75
0.07 0.00
1.18
$ 19.36
0.06 0.00
1.04
-0.23 0.00
-0.12 0.00
0.03 3.61
0.06 0.00
0.03 0.00
$ 14.12
-0.14 0.00
$ 17.98
0.07 0.00
$ 12.22
-0.03 0.00
-0.08 0.00
8.75
-0.0033 3.02
www.tni.ae
Other International Funds
1.7756
-0.0006 1.14
-0.0093 1.98
-0.0108 1.96
1.0090
-0.0025 3.46
0.8474
0.0001 3.09
UK Equity Fund
1.8558
-0.0001 2.83
AED 10.63
-0.03 0.00
$ 924.60
-70.43 0.00
$ 1182.39
3.51 0.00
-0.23 0.00
-0.28 0.00
-0.28 0.00
-0.29 0.00
0.07 0.00
-0.33 0.00
9.37
0.01
8.99
0.01
9.02
0.00
(IRL)
Veritas Asset Management LLP
HSSI Ltd, 1 Grand Canal Sq, Grand Canal Harbour, Dublin 2, Ireland
Veritas Funds Plc
www.veritas-asset.com
+353 1 635 6799
FCA Recognised
Institutional
-
-3.29 0.69
355.72
-1.36 0.51
299.51
-3.63 0.44
$ 141.49
-0.58 0.00
146.44
-0.58 0.00
140.24
-0.58 0.00
-0.73 4.86
www.stenhamassetmanagement.com
Other International Funds
-1.30 4.12
0.25 4.75
-0.20 2.78
-0.19 2.60
0.00 2.42
0.00 2.21
-0.11 2.06
-0.20 2.34
0.01 0.00
-0.19 0.00
-0.21 0.00
0.24 4.78
-1.26 4.15
-0.71 4.89
0.28
-1.47
(UK)
Thesis Unit Trust Management Limited
Exchange Building, St Johns Street, Chichester, West Sussex, PO19 1UP
Authorised Funds
TM New Court Fund A 2011 Inc
$ 126.64
-8.73
-0.70 0.00
-2.06 0.00
12.75
0.02 0.00
0.03 0.00
0.02 0.00
$ 147.24
3.67 0.00
$ 220.42
-7.60
$ 190.65
-10.24 0.00
$ 31.00
-73.66
$ 116.67
-3.43
$ 121.31
-1.85
$ 400.20
-2.72
$ 115.83
-0.71
Toscafund
(CYM)
Regulated
Tosca
$ 298.38
264.89
-2.87 0.00
$ 353.68
40.27 0.00
-3.43 0.00
(GSY)
Regulated
Japan Synthetic Warrant Yen Class 1483.90
145.61 0.00
-15.63 0.00
1.57 0.00
-16.46 0.00
(LUX)
Regulated
TreeTop Convertible Sicav
-5.16 0.00
-0.04 2.09
-1.68 0.00
-0.02 2.07
International D
271.57
-3.72 3.11
-0.02 0.17
Pacific A
261.50
-3.16 0.00
Pacific B
$ 329.39
-4.13 0.00
Retail
Veritas Asian Fund B USD
$ 204.48
-2.29 0.50
261.87
-0.84 0.04
-2.08 0.00
220.33
-2.63 0.00
-2.41 0.00
141.47
-0.51 0.00
-1.55 0.00
163.91
1.09 0.00
-1.66 0.00
-0.14 1.70
0.00 1.75
-0.12 1.65
Global Opp.A
135.63
-0.41 3.79
Global Opp.B
$ 134.48
-0.14 3.46
Global Opp.C
168.00
144.64
120.21
-0.42 3.57
Sequoia Equity C
166.30
-0.87 0.00
-0.42 3.54
0.22 4.84
-1.16 4.20
Regulated
S W Mitchell European Fund Class A EUR 333.17
-22.51
-6.11
-25.58
472.90
-4.60
Sterling Bonds
263.50
0.50
UK Equities
255.90
0.20
US Equities
249.70
-0.90
$ 119.60
-0.43 3.33
13204.29
-42.40 0.00
-0.70 4.95
$ 164.91
-0.59 3.58
-0.04 1.64
160.23
-0.56 3.82
-0.02 1.65
-0.55 3.79
-0.02 1.46
19546.44
-62.49 0.00
108.82
-0.38 4.04
0.46
-0.04 0.00
472.20
-4.60
(IRL)
Regulated
SWMC European Fund B EUR
14924.01
-543.02 0.00
SWMC UK Fund B
11802.88
-232.92 0.00
-187.67 0.00
-93.62 0.00
RobecoSAM
(LUX)
RobecoSAM Sm.Materials/A
114.71
-0.80 2.10
73.93
-0.61 1.78
-1.92 0.00
RobecoSAM S.HealthyLiv/B
171.42
-1.64 0.00
RobecoSAM S.Water/A
155.34
-0.93 2.37
(UK)
100874.00
857.00 0.00
3.49
-0.07 0.99
91764.00
3056.00 0.00
5.57
-0.11 1.48
$ 908.40
30.05 0.00
1.08
-0.02 3.05
1.00
-0.02 2.79
1.34
-0.02 3.43
1.18
-0.02 2.82
0.99
-0.02
0.98
-0.02
0.30 0.29
151.75
0.28 0.29
94.31
-0.39
(UK)
Scottish Friendly Asset Managers Ltd
Scottish Friendly Hse, 16 Blythswood Sq, Glasgow G2 4HJ 0141 275 5000
Authorised Inv Funds
Managed Growth
229.10
0.10 0.00
UK Growth
248.40
-0.50 0.00
(LUX)
Regulated
-0.83
250.74
-0.18 0.45
208.01
-0.15 0.45
203.43
-0.02 0.95
173.28
-0.02 0.96
260.78
0.45 3.87
165.19
0.28 3.99
Regulated
Nippon Growth (UCITS Fund Euro Hedged Class EUR) 1062.42
-24.52 0.00
Nippon Growth (UCITS Fund Euro Hedged Institutional Class EUR) 1249.80
-28.83 0.00
-2245.00 0.00
-1872.00 0.00
(UK)
21 Lombard Street, London, EC3V 9AH
Client Services 0800 587 2113, Client Dealing 0800 587 2112
www.ubs.com/retailfunds
Authorised Inv Funds
OEIC
Global Emerg Mkts Eqty B Acc
-1829.00 0.00
-1216.00 0.00
0.82
-0.02 3.08
1.22
1.42
0.00 0.30
0.93
-10.66 0.00
US Equity B Acc
-10.97 0.00
0.50
0.00
-11.35 0.00
1.22
-0.01 1.25
-1.29 0.00
51.17
0.00 3.33
-1.31 0.00
0.49
0.00 3.66
-1.47 0.00
0.37
-0.01 4.91
-1.33 2.91
0.52
0.00 4.00
1.04
0.00 1.87
0.44
0.00
$ 1063.15
-1.51 0.00
$ 1045.15
2.14 0.00
-0.07 0.39
12.69
0.02 1.90
14.07
0.00 0.00
-0.01 5.48
-2.12
-7.41 0.00
European Multi-Sector
(UK)
283.80
-1.60
221.30
-1.20
146.50
-0.10
101.40
-0.10
International
160.90
-0.10
IGV - Inc A
315.60
0.00 2.41
116.01
Unicapital Investments
(LUX)
27.41
Asset Management
(IRL)
-100.00 0.00
6542.00
-139.00 0.00
25792.00
-370.00 0.00
12430.00
-85.00 0.00
16101.00
-244.00 0.00
-260.00 0.00
-10.48
Investments III
0.32 0.00
Regulated
(IRL)
Regulated
YMR N Growth
160.50
9.47
-0.01 6.05
$ 17.39
-7.43 0.00
-3.80 6.13
-0.02 5.51
0.36
-7.01 0.00
-0.33 1.16
SFr 165.90
8.75
0.01 0.00
(IRL)
waverton.investments@citi.com
FCA Recognised
-0.75 0.00
1.43
-6.84 0.00
-4.30
0.36 0.00
SFr 186.80
$ 296.54
-10.57 0.00
69.23
0.37 0.00
314.55
0.31 0.00
299.93
Asset Management
281.43
0.00 0.68
0.01 1.83
LTIF Classic
93.87
(IRL)
Asset Management
Schroder Property Managers (Jersey) Ltd
Other International Funds
www.veritas-asset.com
Other International Funds
155.69
(UK)
.
For Save & Prosper please see Countrywide Assured
-0.15 1.37
B Shares
-0.40 4.04
0.80
126.36
$ 375.64
146.00
International C
Japan Equities
International B
-0.81
0.80
Guide to Data
0.20
262.20
www.morningstar.co.uk
-4.01 0.00
142.30
Europe (ex-UK)
Data Provided by
292.56
Gross
AER Int Cr
International A
-0.40 3.73
(UK)
Gross Net
$ 294.34
-0.81 0.00
-0.66 6.13
126.08
249.42
(LUX)
UK Income B Inc X F
0.13
-0.11 1.86
-0.73 5.89
(CYM)
-0.63 6.17
92.11
10.26
-0.39 4.00
A Shares
RobecoSAM Sm.Energy/A
275.13
235.09
UK Income B Acc X F
-2.15 0.00
(UK)
-0.15 0.00
UK Income A Inc X F
(JER)
$ 12.04
1.1648
Regulated
$ 10.62
22.56
323.00
-0.69 5.93
$ 148.89
(UK)
40 Dukes Place, London EC3A 7NH
Order Desk and Enquiries: 0345 922 0044
Authorised Inv Funds
Authorised Corporate Director - Capita Financial Managers
-0.57 0.14
Sequoia Equity B
259.45
-0.41 3.79
-3.46 0.00
152.45
-2.49 0.77
UK Income A Acc X F
-0.14 3.22
$ 138.79
0.00 0.00
432.84
-2.83 0.00
-2.56 0.08
118.32
-5.25 1.31
-1.62 1.16
Money Market
Trusts and
Bank Accounts
381.46
$ 102.58
-0.0070 2.14
-0.82 0.00
440.01
257.46
246.14
0.20
-3.25 0.00
Pictet-USD Sov.ST.Mon.Mkt-I
1.5482
-1.19 0.00
Pictet-Water-I EUR F
Bridge Fund
-0.96 0.00
142.90
$ 185.66
-0.57 0.37
-0.03 0.00
-1.58 0.45
Prusik Asia A
-1.08 0.40
-5.29 1.31
-3.64 1.32
153.76
1.21
(CYM)
Regulated
Sequoia Equity A
-3.66 1.32
0.11 0.00
+/- Yield
235.88
-0.40
-0.02 0.00
Offer
316.35
264.40
Bid
Mastertrust B Inc X F
252.80
267.02
3.41 0.00
1.00
Fund
-2.14 0.00
-3.62 0.23
0.20
-1.81 3.99
406.97
$ 171.13
UK Growth B Inc
143.80
0.00 0.00
385.08
-0.05 0.00
-0.01 0.00
Multi-Manager OEIC
108.45
1.33
1.31
0.30
-1.64 0.28
0.20
-1.65 0.58
-0.03 0.00
211.40
283.42
0.01 0.00
167.10
286.35
-0.45 0.00
Pacific O Acc
1.40
Pacific C Acc
-3.37 0.00
0.01 0.00
(IRL)
-1.22 0.00
www.valuepartners.net, fis@vp.com.hk
Regulated
$ 166.84
149.00
0.00 0.00
350.75
7.09 0.00
0.00 0.00
Mastertrust A Inc X F
3.02 0.00
0.60 0.46
-3.64 0.00
0.70
-0.20
1.52
0.30
404.18
1588.08
1.40
UK Growth A Inc
1562.00
180.60
(UK)
PO Box 10602, Chelmsford, Essex, CM1 9PD 0845 026 4287
Authorised Inv Funds
Gilt
+/- Yield
UK Corporate Bond
Offer
16.24 0.00
(JER)
Bid
Fund
177.80
147.40
(IRL)
Regulated
S & W Magnum
147.60
0.00 0.00
0.00
-8.92
0.60
0.00
1.35
1.07
$ 449.78
146.00
1.07
CGV Inc B
-35.00 0.24
CGV Inc A
2043.00
0.30
$ 135.12
0.03 0.00
-0.50
Pictet-ST.MoneyMkt-IUSD
-3.13 0.00
(UK)
162.90
0.00 0.00
-0.50
11.38 0.00
142.90
$ 141.53
161.80
113.89
153.20
101547.06
0.00
SFr 124.46
Pictet-Timber-I USD F
Pictet-ST.MoneyMkt-ICHF
153.40
182.26
(GSY)
0.20
Regulated
-0.10
-1.17 0.00
102.50
-0.20 6.20
145.20
-11.67 0.00
-1.20 0.66
-1.86 0.00
216.00
405.60
0.00
0.23 0.00
28.27 0.00
0.06 0.68
0.30
173.50
0.10 2.59
151.30
$ 861.68
0.20
10.90
-1.20 1.09
154.30
12.68
136.70
-0.10
136.90
-0.10
-1.15 0.00
-2.14
-0.55 0.00
0.30
214.40
$ 42.54
239.60
$ 128.50
161.50
(CYM)
Regulated
-1.87 0.00
122.94
0.50
Continental
-3.10 0.00
0.00 0.00
106.80
0.20 3.39
CGV Acc X
125.30
121.50
-3.36 0.00
-0.21 0.00
0.50
-0.70
119.00
107.60
-0.90
-1.95 0.00
CGV Acc S
154.40
0.03 0.00
1.10 0.83
179.30
$ 77.99
1.10
262.40
0.06 0.00
0.67 0.00
262.40
1.06 0.00
-1.83 0.00
EGV - Acc S
-0.85 0.00
$ 105.25
-0.40 3.32
-0.72 0.00
239.90
391.70
50.26
140.65
197.66
-1.20
-4.03 0.00
-11.03 0.00
-0.50
0.31 0.00
251.20
0.09 0.00
-0.59 0.00
157.20
-0.18 0.00
-1.62 0.00
European
124.24
-1.89 0.00
4.20 0.74
22.89
$ 151.90
-2.77 0.00
489.50
EGV - Acc Z
-4.75 0.00
+/- Yield
176.50
179.15
Offer
Pictet-Agriculture-I EUR F
259.71
Bid
-0.05 0.00
Fund
-3.80 0.00
0.60 0.00
+/- Yield
-2.31 0.00
$ 11.85
Offer
SFr 503.39
Bid
0.04 0.00
Fund
160.97
0.01 0.00
-0.81 0.00
+/- Yield
69.88
Offer
$ 35.60
Bid
123.71
Fund
-0.01 0.00
105.78
-14.34 0.00
+/- Yield
-0.09 0.00
Offer
$ 859.02
Bid
Pictet-Biotech-I USD F
Fund
Offer
Bid
0.58 0.00
FCA Recognised
Memnon European Fund I GBP
106.21
(LUX)
-
-2.21 0.00
30
FINANCIAL TIMES
Capital markets
Danielle
DiMartino
Booth
$157m
Value of renminbidenominated bonds
that HSBC and BoC
HK units have been
approved to sell
$6.5
tn
Size of onshore
bond market, to
which non-official
foreign banks have
been given access
Analysis. Equities
US alternative trading
venues market share
Total shares* (m)
0 100 200 300 400
UBS
Credit Suisse
Crossfinder
IEX
Deutsche Bank
SuperX
Morgan Stanley
MS Pool
Merrill Lynch
Instinct X
* Week ending September 21
Market volume
Five-day average % of market
Nasdaq
NYSE
26.34 19.57
20.98
33.11
Other, including
alternative trading
venues
Bats
Global
Markets
Commodities
Capital markets
Esma close to signing off position limit advice ECB shakes up asset-backed security purchases
NEIL HUME
use derivatives to hedge the raw materials they buy and sell, are worried that
thousands of physically settled commodity contracts could be captured by
the new rules. This would mean
increased reporting obligations and
position limits, or caps, on the number
of contracts they can hold.
Big market participants are concerned that they will be forced to
become Mifid-compliant groups. This
would not only bring capital and liquidity requirements similar to those
imposed on banks but also restrictions
on staff remuneration.
Mifid II comes into force at the end of
2017. It is part of efforts by European
policymakers to increase transparency
in financial markets, clamp down on
speculation and guard against systemic
risk across equity, fixed income and
commodity markets.
THOMAS HALE
The European Central Bank is removing two of the four asset managers it
uses to buy asset-backed securities, in a
shake-up of the bond purchase programme aimed at increasing the role of
national central banks.
The ECB began to buy asset-backed
securities in November last year, as part
of broad interventions designed to boost
economic growth. It hired Amundi and
Amundi Intermdiation, ING Investment Management (now NN Investment Partners), Deutsche Asset and
Wealth Management International and
State Street Global Advisors to assist
with purchases.
Deutsche and State Street will not
have their contracts with the central
bank extended, according to people
familiar with the matter. The propor-
31
FINANCIAL TIMES
TRADING POST
Jamie
Chisholm
If an important reason why the Federal
Reserve did not raise rates this month
was the fact that markets had not
priced it in, we may be in for an
extended period of uncertainty.
In a poll of 93 economists by Reuters
since the meeting, 72 think the central
bank will make a move in December.
But at mid-session yesterday,
following the latest poor factory data
from China, futures markets were
pricing the chance of a December rate
rise at 42.6 per cent.
An increase in January is roughly
evens, and it is not until March, at
65 per cent, that the odds are seen
favouring a move.
While we wait we have the thirdquarter earnings season to digest,
which starts in earnest in a few weeks.
Barclays notes that sentiment
towards stocks is poor. Having had
four times more bulls than bears prior
to the correction, bulls are now in the
minority, says the banks global equity
strategy team.
This last occurred in 2011 and, with
the notable exception of 2008, usually
signals a market bottom.
Monetary policy remains highly
supportive and global earnings per
share and price-to-book gauges are at
long-term averages, they add.
There are two key issues in the EPS
outlook global GDP and the effect
of lower oil prices.
Analysts have slashed earnings
estimates for oil producers by $148bn
but only raised forecasts for oil
consumers by $9bn. This asymmetry
leaves scope for an oil dividend
whatever happens to oil prices.
jamie.chisholm@ft.com
Mar
2015
Sep
290
280
270
260
250
Wall Street
Otis owner going down
amid China retreat
Richard Blackden
Fresh evidence of a slowdown in China
dented the shares of US businesses with
exposure to an economy that is
dominating investors attention.
United Technologies, best known as a
defence contractor for the Pentagon,
was the biggest faller on the Dow Jones
Industrial Average after a new gauge of
Chinese manufacturing pointed to a
deeper economic slowdown.
Sep 2014
1000
800
600
400
2015 Sep
Indices
Close
Day's
change
FTSE 100
6032.24
96.40
FTSE 250
16659.85
129.87
FTSE 350
3370.35
48.97
FTSE All-Share
3323.25
46.95
Bryce Elder
3.76
6002.00
94.50
10 yr Gilt Yield
2.53
-0.29
0.65
Composite stock index snapped a threeday run of gains to close 2.2 per cent
lower at 3,116.71.
The index highlights the very weak
state of Chinese manufacturing in
the third quarter and fuels the fear of a
hard landing in China, said Allan
von Mehren, chief analyst at Danske
Bank.
We still expect a slight rebound in
the fourth quarter. However, the Chinese manufacturing sector will continue to face structural downward pressure due to overcapacity and a clear priority from the Chinese government to
deleverage and focus more on service
sector growth.
Such concerns arguably lie at the
0.21%
2000
1950
1900
Aug
Hunting
London
RSA Insurance rattled
by concerns over
Chile earthquake
Markets update
2015
Sep
1850
Aug
1.62%
2015
6300
6200
6100
6000
5900
Sep
0.07%
1450
1400
1350
1300
Aug
2015
Sep
Aug
2015
2.19%
Sep
3300
3200
3100
3000
2900
Trading Directory
Trading Directory
FT BUSINESS
Tuesday, Friday & Saturday: Business for Sale, Business Opportunities, Business Services,
Business Wanted, Franchises
.....................................................................................................................................................................................................................................................................................................................................................................................................................
32
Analysis. Commodities
SMART MONEY
John
Authers
Goldman is keeping it
simple with its game
of ETF catch-up
economies, headed
by Brazil, Russia, India
and China.
ft.com/beyondbrics
Y Podcast The Hard
Currency podcast takes a
look at what is driving
the global currency
market. ft.com/podcasts
Y Lex Video Analysis
and opinion from the
team on the hot issues
affecting companies and
markets. ft.com/lexvideo
Drilling down
US oil rig count
Number
1600
US crude oil
production
Annual change
in million barrels
per day
100
1.0
80
1400
1200
1000
0.5
60
800
Forecast
0
40
Forecast
-0.5
600
20
2009
10
11
12
13
14
15
16
2011
12
13
14
15
Our focus . . .
will be capital
discipline and
balance sheet
strength, not
production
growth
Marathon Oil
Apr 2015
US crude oil
production peaks
at 9.6m b/d
Oil price
WTI
($ per barrel)
1.5
Equities
Nov 2014
Opec refrains from
curbing output
amid oil price fall
Oct 2011
Bakken shale
oil output tops
500,000 b/d
Feb 2009
WTI crude price
drops below
$40 a barrel in
financial crisis
EXECUTIVE
APPOINTMENTS
THURSDAY 24 SEPTEMBER 2015
www.exec-appointments.com
www.ft.com/recruit
Twitter: @carola_hoyos
Inside
Digital fails
to kill off the
business
card...just yet
In a Blink
One in every four whitecollar workers puts in
50-plus hours a week
PAGE 2
Workplace Haiku
The theme conference
call inspires nostalgia for
hotels and air travel
PAGE 2
Careers Counsel
Make the most of your
interns. They may even
discover a new planet if
you give them a chance
PAGE 2
Business
cards turn
chance
encounters
into
relationships
their phone, they have to go to the trouble of deleting it, she adds.
For executives in the middle of job
searches, the business card is a particularly important tool, says Barbara
Safani, owner of Career Solvers, a USbased consultancy with services from
career management to recruiting.
Part of this is about being professional and creating a consistent brand,
she says. People still say give me your
card so you need to be prepared.
In the absence of one, she says, people
often take a pen and cross out the information on their previous companys
card. Even less professional is to grab a
cocktail napkin and start writing on it.
Whether in job searches or not, business cards help people turn spontaneous conversations into relationships.
Ms Safani notes: You might be standing in line at a bank or commuting, but
sometimes opportunities present themselves. You need a follow-up strategy,
and thats what the business card does
it creates a connection that encourages
people to talk again.
Meanwhile, in countries such as
China and Japan, exchanging business
cards is a ritualised form of business
greeting, with cards presented with a
nod or bow.
Of course, not all business professionals see the point of these small pieces of
stiff paper. Porter Gale, a US-based networking expert, does not use business
cards.
Business cards are definitely on the
way out, especially as our smartphones
become smarter, she says. There are
so many ways to connect with people.
She sees the real-time intelligence
and relationship intelligence offered
online and on mobile devices as being
the way forward in the business networking world.
Thats where were moving, she
says. And a business card just doesnt
have that.
However, even Ms Gale believes that
business cards can lend credibility,
especially to a start-up: Without that
piece of card, you cant make that first
impression.
For Red Threads Ms Bates, the business card offers a touch of creativity and
individuality in an increasingly digital
world. Its a way to describe yourself in
an idiosyncratic way, she says. And Im
very visual and so if I have a business
card, I want it to be beautiful.
So while digital may eventually kill
the business card, it is likely to be a slow
and lingering death.
Standing out:
Creative cards
can describe you
in idiosyncratic
ways
Stern on Boards
US and UK company
directors must deal head
on with the political risk
their emerging
politicians represent
PAGE 3
Mrs Moneypenny
Unexpected and
varied
careers can
be as
inspiring
as castles
PAGE 3
FINANCIAL TIMES
Executive Appointments
>40
Most
hours
Haiku Contest
40-50
hours
between
64.1% worked
40 and 50 hours
more
23.4% worked
than 50 hours
>50
hours
face to face
not as nice
as his voice
58%
FT graphic Source: PGi survey of 624 UK knowledge workers, 2015
FINANCIAL TIMES
Executive Appointments
Career Clips
Who was your mentor?
Peter Snow who was the Newsnight
presenter during my time there. We
produced the election nights in 1992
and 1997. He has a zest for life. He is
insatiable for information, extravagant
and exuberant about communication
a brilliant television mind.
Your favourite leadership book?
Dancing on Ice: Leadership with
political astuteness by senior public
servants in the UK by Prof Jean
Hartley and Stella Manzie. Hartley is
On the Desk
One of the last microphones from the
BBCs historic Bush House studio stands
on the corner of Mr Horrocks desk.
It reminds him of the time Burmas
Aung San Suu Kyi visited the BBC World
Service to meet the Burmese staff
following her release from house arrest.
She wanted to thank them for helping
her survive. At the time she said,
Because of the BBC I never lost touch
with my people, with the movement for
democracy in Burma and with the rest of
the world.
Stefan
Stern
Here are two quotes from unexpected
political meteors who are currently
blazing across the skies in the US. One
figure comes from the radical left, the
other is the frontrunner to win the
Republican party nomination for
President in 2016. Can you tell who
said what?
Quote A: The decision to require
companies to disclose how much more
chief executives are paid than workers
is an important step in the fight against
income inequality . . . I hope that
shining a spotlight on the disparity will
help working families.
Quote B: Levels of chief executive
pay are disgraceful . . . a total and
complete joke . . . Now the boards of
companies are supposed to do it,
but . . . the chief executive puts in all
She
liquidised
the salad,
heated it up
and gave it
back to him
and an idea
was born
FINANCIAL TIMES
EXECUTIVE APPOINTMENTS
Working in Accounting
www.ft.com/reports | @ftreports
Body metrics:
Deloitte culls
data from
Harlequins
practices Getty
Google and
Amazon
have three
core assets:
data storage
data
analytics,
and cloud
technology
Paul Connolly of
MCA Think Tank
FINANCIAL TIMES
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FINANCIAL TIMES
EXECUTIVE
APPOINTMENTS