uk main day trader 20120404

8/2/2019 uk main day trader 20120404

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04 April 2012

UK Main (market)Day Trader


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Intellisys www.intellisys.uk.com 04 April 2012

Page 2 of 24 Intellisys 04 April 2012

ContentsMarket Pictures - Indices ......................................................................... 5

FTSE 100 ................................................................................................ 5 FTSE 250 ................................................................................................ 6 FTSE All Share Index ................................................................................ 7 FTSE AIM All Share .................................................................................. 8

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

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


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

The report is published daily and delivered to the subscribers personal email box,typically, before the official open of the London Stock Markets.

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

TimingIntellisys has invested considerably in identifying what it believes are the keyfactors that influence investment timing. Having identified the key parameters,these have been established as rules that reflect market dynamics and cutthrough the daily investment noise.

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

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

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

Individual Stock Recommendation & Trend Accuracy Scores

Source: Intellisys

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 4020.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

Best Buy/Sell Trend


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ValueA similar discipline has been applied to the process of establishing Target Prices.On a daily basis, Intellisys analyses as broad an array of historic data from notonly the Profit & Loss Account but also the Balance Sheet and Cash flowStatement and then utilises this data within its proprietary valuation models.

Intellisys architect, Philip Morrish, has successfully applied these disciplines to hisinvestment research for the last 15+ years. Additionally, these investmentvaluation techniques lend themselves to accurate cross-border analysis.

The resultant Target is also discounted to a Net Present Value to make the Target as realistically valid as possible.

Nevertheless, Intellisys recognises that Target Price delivery is not only afunction of market levels but a management teams ability to establish andmaintain a value generating operating environment set against a constantlychanging global background.

The typical investment analysts approach to determining target prices is to startwith a modest range of some 6 10 valuation measures and remove those thatare not providing the intuitive result. Intellysis approach is the opposite we useas many valuation methodologies as possible.

Further, Intellisys recognises that some target prices may appear strange orextreme. However, subscribers should not dismiss these outcomes but use themas starting points to challenge their established or perceived valuation opinion of a stock.

In short, this disciplined approach provides an investment reality check to assistinvestors from falling in love with a stock or becoming mesmerised by

management cults.

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

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

Philip Morrish ([email protected])

RISK WARNING Recommendations and Target PricesIntellisys does not make personal recommendations. The information in thispublication is provided solely to enable you to make your own investmentdecisions.If you are unsure about dealing in shares and other equity investments, youshould contact your financial adviser as these types of investments may not besuitable for everyone.The value of stocks and shares, and the income from them, can fall as well as riseand you may not get back the full amount you originally invested. If denominatedin a foreign currency, fluctuations in the exchange rate will also affect the valueof stocks and shares and the income from them. Past performance is notnecessarily a guide to future performance.


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Market Pictures - Indices

FTSE 100

Index PE

3,512.1

3,925.5

4,944.4

5,838.3

6,082.9

6,091.3

6,732.4

2000 4000 6000 8000

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100

7.0

7.9

7.9

9.9

14.1

18.2

18.2

5 10 15 20

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100 PE

% change % change

1M -1.2 ; 3M 2.4 ; 12M -2.9 1M -1.6 ; 3M -4.1 ; 12M -29.2

Yield RSI

2.9

2.9

3.0

3.5

3.9

5.2

6.2

1.0 3.0 5.0 7.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100 DY

25.5

47.4

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE 100 RSI

% change

1M 2.6 ; 3M 0.9 ; 12M 18.0


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FTSE 250

Index PE

5,491.5

6,718.4

9,425.9

11,638.8

12,167.8

12,167.8

12,220.2

500 5500 10500 15500

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250

7.1

7.1

7.1

19.1

19.5

27.8

27.8

5 10 15 20 25 30

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250 PE

% change % change

1M 0.9 ; 3M 12.3 ; 12M -0.6 1M 10.1 ; 3M 21.7 ; 12M 10.4

Yield RSI

1.9

2.2

2.3

2.7

3.3

4.0

5.7

1.0 2.0 3.0 4.0 5.0 6.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250 DY

25.6

53.5

83.4

0 20 40 60 80 100

Lo

Last Close

Hi

FTSE 250 RSI

% change

1M -0.4 ; 3M -9.9 ; 12M 15.7


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FTSE All Share Index

Index PE

1,781.6

1,998.7

2,557.8

3,037.0

3,160.9

3,160.9

3,479.0

500 1500 2500 3500 4500

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE

7.4

8.5

8.5

10.7

14.6

19.5

19.5

5 10 15 20 25

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE PE

% change % change

1M -0.9 ; 3M 3.9 ; 12M -2.6 1M -0.6 ; 3M -1.5 ; 12M -25.9

Yield RSI

2.7

2.8

2.9

3.4

3.8

5.1

6.1

1.0 3.0 5.0 7.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE DY

25.4

48.3

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE ALL SHARE RSI

% change

1M 2.1 ; 3M -0.9 ; 12M 17.2


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FTSE AIM All Share

Index PE

373.8

421.7

657.8

794.0

921.6

968.3

1,236.6

200 700 1200 1700

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE

-203,906.0

-203,906.0

-203,906.0

-249.8

304.6

1,240.8

1,439.5

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

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE PE

% change % change

1M -4.2 ; 3M 12.9 ; 12M -12.3 1M -182.0 ; 3M -356.2 ; 12M -31.0

Yield RSI

0.4

0.5

0.6

0.7

0.8

1.9

2.1

0.2 0.7 1.2 1.7 2.2

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE DY

23.6

45.0

91.9

0 50 100

Lo

Last Close

Hi

FTSE AIM ALL-SHARE RSI

% change

1M 8.1 ; 3M -5.6 ; 12M 11.7


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S&P 500

Index PE

676.5

815.6

1,099.2

1,413.4

1,419.0

1,419.0

1,565.2

400 900 1400 1900

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE

13.4

13.4

13.4

16.3

17.5

146.3

146.3

10 60 110 160

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE PE

% change % change

1M 3.2 ; 3M 10.7 ; 12M 6.1 1M 3.6 ; 3M 11.7 ; 12M -5.6

Yield RSI

1.8

1.8

1.9

2.1

2.4

2.7

3.4

0.5 1.5 2.5 3.5 4.5

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE DY

30.0

61.9

81.6

0 20 40 60 80 100

Lo

Last Close

Hi

S&P 500 COMPOSITE RSI

% change

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


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Market Pictures Interest Rates

UK Bank Lending Rates

UK

0.50

0.50

0.50

0.50

0.50

0.50

5.75

0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

UK CLEARING BANKS BASE RATE

% change

1M 0.0 ; 3M 0.0 ; 12M 0.0

UK Lending PE

200.0200.0

200.0

200.0

200.0

200.0

17.4

10 60 110 160 210

5Y Hi3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

UK CLEARING BANKS BASE RATE PE


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Eurozone Lending Rates

Eurozone

1.75

1.75

1.75

1.75

2.25

2.50

5.25

0.00 1.00 2.00 3.00 4.00 5.00 6.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

EUROZONE MARGINAL LENDING RATE

% change

1M 0.0 ; 3M 0.0 ; 12M 0.0

Eurozone Lending PE

57.157.1

57.1

57.1

44.4

40.0

19.0

10 20 30 40 50 60

5Y Hi3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

EUROZONE MARGINAL LENDING RATE - PE


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US Federal Funds Rate

US

0.04

0.04

0.04

0.15

0.17

0.25

5.41

0.00 1.00 2.00 3.00 4.00 5.00 6.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US FEDERAL FUNDS RATE

% change

1M 36.4 ; 3M 114.3 ; 12M 36.4

US Lending PE

2,500.02,500.0

2,500.0

666.7

588.2

400.0

18.5

10 510 1010 1510 2010 2510 3010

5Y Hi3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

US FEDERAL FUNDS RATE - PE


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Market Pictures Exchange Rates

US$/

1.37

1.43

1.53

1.60

1.67

1.70

2.11

1.00 1.20 1.40 1.60 1.80 2.00 2.20

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US$/

% change

1M 0.7 ; 3M 2.1 ; 12M -0.4

/

1.02

1.07

1.11

1.20

1.21

1.24

1.50

1.00 1.10 1.20 1.30 1.40 1.50 1.60

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

EURO/

% change

1M -0.3 ; 3M 0.0 ; 12M 5.6


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Market Pictures Exchange Rates

US$/

1.19

1.19

1.27

1.32

1.48

1.51

1.60

0.80 1.00 1.20 1.40 1.60 1.80

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US$/EURO

% change

1M 0.2 ; 3M 1.4 ; 12M -7.0

/

117.1

117.1

117.1

131.4

139.4

162.5

250.1

100.0 150.0 200.0 250.0 300.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

YEN/

% change

1M 1.6 ; 3M 9.5 ; 12M -2.8


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Market Pictures - Oil

Brent Monthly FOB US$/bbl

34.6

48.3

104.0

125.6

126.6

126.6

145.6

0 50 100 150 200

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

Oil (Brent) Monthly FOB U$/bbl

% change

1M 0.91 ; 3M 12.41 ; 12M 6.09

RISK WARNING Recommendations and Target PricesIntellisys does not make personal recommendations. The information in thispublication is provided solely to enable you to make your own investmentdecisions.

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

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

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


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Aerospace & DefenceStock Price 12M Lo 12M Hi ST Rec BetaBAE SYSTEMS 300.8 248.1 340.8 Neutral 0.653CHEMRING GROUP 407.2 368.8 712 Neutral 0.528COBHAM 232 165.9 236.5 Neutral 0.924MEGGITT 410.9 305 412 Neutral 1.340ROLLS-ROYCE HOLDINGS 833 552.19 842.5 Neutral 1.097SMITHS GROUP 1051 869.5 1340 Neutral 0.722ULTRA ELECTRONICS HDG. 1763 1305 1780 Neutral 0.604UMECO 388.5 243.5 499.88 Neutral 0.793

Automobiles & PartsStock Price 12M Lo 12M Hi ST Rec BetaGKN 208.5 157 245 Neutral 1.978INCHCAPE 379.4 268.6 425.4 Neutral 1.424LOOKERS 62.5 47 72.75 Neutral 1.355PENDRAGON 13.5 6.8 19.71 Neutral 1.143

BanksStock Price 12M Lo 12M Hi ST Rec BetaBARCLAYS 230.35 138.85 308.85 Neutral 1.847HSBC HDG. (ORD $0.50) 558.9 463.5 667.2 Neutral 1.134

LLOYDS BANKING GROUP 32.68 21.84 62.36 Sell 1.757ROYAL BANK OF SCTL.GP. 26.89 17.34 44.43 Sell 1.278STANDARD C HARTERED 1560 1169.5 1690 Neutral 1.701

BeveragesStock Price 12M Lo 12M Hi ST Rec BetaBARR (AG) 1145 1031 1395 Neutral 0.412DIAGEO 1542 1112 1553 Neutral 0.551SABMILLER 2591 1979 2660 Neutral 0.979

ChemicalsStock Price 12M Lo 12M Hi ST Rec BetaCRODA INTERNATIONAL 2164 1597 2238 Neutral 1.083ELEMENTIS 188 107.5 196.1 Neutral 1.083JOHNSON MATTHEY 2388 1523 2408 Neutral 1.466VICTREX 1386 1025 1590 Neutral 1.227YULE CATTO 245.3 148 253 Neutral 1.284ZOTEFOAMS 186.5 109 186.5 Neutral 1.043

Construction & Building MaterialsStock Price 12M Lo 12M Hi ST Rec BetaBALFOUR BEATTY 286.6 214.6 340.2 Neutral 0.846BARRATT DEVELOPMENTS 138.3 67.5 151.5 Neutral 1.433BELLWAY 800 540.5 859.5 Neutral 1.020BERKELEY GROUP HDG.(THE) 1351 1019 1414 Neutral 0.689BOVIS HOMES GROUP 481.5 326.5 518.5 Neutral 1.080CARILLION 297.4 281 403.2 Neutral 1.095CLARKE (T) 47.25 35.5 104 Neutral 0.828

COSTAIN GROUP 231.25 180 262 Neutral 0.589GALLIFORD TRY 616.5 383.75 628 Neutral 1.049KELLER 457.5 239.25 671.5 Neutral 1.328KIER GROUP 1135 1097 1489 Neutral 1.043LOW & BONAR 62 38 76.75 Neutral 1.097MARSHALLS 97.25 83.25 124.5 Neutral 1.348MORGAN SINDALL GROUP 670 510 725 Neutral 0.894PERSIMMON 635 374 706.5 Neutral 1.095REDROW 126 103.5 135.3 Neutral 0.972SIG 116.1 76.95 153.5 Neutral 1.597TAYLOR WIMPEY 51.2 28.71 52.75 Neutral 1.514TRAVIS PERKINS 1125 715 1125 Neutral 1.886WOLSELEY 2438 1404 2558 Neutral 1.416


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Electronics & Electrical EquipmentStock Price 12M Lo 12M Hi ST Rec BetaDIALIGHT 925 643.5 930 Neutral 0.754DOMINO PRINTING SCIENCES 560.5 434.3 701.5 Neutral 1.176E2V TECHNOLOGIES 123 86.75 146.5 Neutral 1.337INVENSYS 202.8 180.9 351.8 Neutral 1.470LAIRD 219 127.9 219 Neutral 2.211OXFORD INSTRUMENTS 1185 711.5 1262 Neutral 0.979RENISHAW 1346 800 1886 Neutral 1.283SPECTRIS 1837 1039 1837 Neutral 1.426BIOME TECHNOLOGIES 0.18 0.14 0.28 Neutral 0.627TT ELECTRONICS 165.5 120.5 208 Neutral 1.602XAAR 234.25 212 295 Neutral 1.123

Engineering & MachineryStock Price 12M Lo 12M Hi ST Rec BetaAGA RANGEMASTER GROUP 90 62.5 126.75 Neutral 1.329BODYCOTE 390 225.6 426.5 Neutral 1.602CASTINGS 304.5 252.5 358 Neutral 0.977COOKSON GROUP 731 395.8 732.5 Neutral 2.290FENNER 447.9 280 483.7 Neutral 1.406HALMA 393.5 306.3 429.6 Neutral 0.761HILL & SMITH 332 235 393.5 Neutral 1.416IMI 997 636.5 1119 Neutral 1.422METALRAX GROUP 8.37 7.25 12 Neutral 0.859MORGAN CRUCIBLE 327.3 224 360 Neutral 1.764ROTORK 2071 1501 2099 Neutral 0.996SENIOR 200 135.6 203 Neutral 1.768SEVERFIELD-ROWEN 175.5 150 262.5 Neutral 1.064SPIRAX-SARC O 2160 1649 2184 Sell 0.864VITEC GROUP 681.5 488 690 Neutral 1.522WEIR GROUP 1789 1375 2236 Neutral 1.391

Food & Drug StoresStock Price 12M Lo 12M Hi ST Rec BetaGREGGS 526 445 558 Neutral 0.529MORRISON(WM)SPMKTS. 299.2 277 328 Neutral 0.457SAINSBURY (J) 309.5 263.5 362.8 Neutral 0.647

TESCO 332.3 310.45 420.05 Neutral 0.741THORNTONS 31.5 9.5 82 Sell 0.776

Food Producers & ProcessorsStock Price 12M Lo 12M Hi ST Rec BetaASSOCIATED BRIT.FOODS 1225 977 1233 Neutral 0.604CRANSWICK 807.5 588.5 841 Neutral 0.589DAIRY CREST 329 311 409.7 Neutral 0.935DEVRO 317.8 232 332.2 Neutral 0.322PREMIER FOODS 16.75 3.29 35.12 Neutral 1.423TATE & LYLE 711.5 544.5 720.5 Neutral 0.632UNILEVER (UK) 2097 1885 2189 Neutral 0.605


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General RetailStock Price 12M Lo 12M Hi ST Rec BetaASHLEY(LAURA) HOLDINGS 22.75 16 23.75 Neutral 0.717BROWN (N) GROUP 234 227 304.5 Neutral 0.487BURBERRY GROUP 1560 1092 1600 Neutral 1.364CARPETRIGHT 681.5 375 741 Neutral 1.030CLINTON CARDS 9.75 7.5 21.25 Sell 0.649DIXONS RETAIL 19.28 9.36 19.91 Neutral 1.458FINDEL 3.5 2.2 8.7 Neutral 0.965FRENCH CONNECTN.GROUP 47 36 107.75 Neutral 0.934HALFORDS GROUP 319 269.5 405.9 Neutral 0.641JJB SPORTS 16 5.2 31 Sell 0.871JD SPORTS FASHION 792.5 570 1030 Neutral 0.492KESA ELECTRICALS 68.2 60.2 151.4 Neutral 1.269KINGFISHER 313.8 217 313.8 Neutral 0.991MARKS & SPENCER GROUP 383.8 301.8 402.2 Neutral 0.743MOSS BROTHERS GROUP 47 25.5 48.25 Neutral 1.048MOTHERC ARE 163.5 127.3 448.5 Neutral 0.549NEXT 3060 2031 3060 Sell 0.795TED BAKER 817.5 633 830 Neutral 0.554TOPPS TILES 38.5 21.5 77 Neutral 1.336

HealthStock Price 12M Lo 12M Hi ST Rec BetaCONSORT MEDICAL 637 498 637 Neutral 0.395CORIN GROUP 39.63 36.5 59 Neutral 0.753SMITH & NEPHEW 634.5 521 715 Neutral 0.374

Household Goods & TextilesStock Price 12M Lo 12M Hi ST Rec BetaHARVARD INTL. 42 21.75 42 Sell 0.469GAMES WORKSHOP 570 370 577.5 Neutral 0.377HEADLAM GROUP 304 233.25 310 Neutral 0.926HORNBY 96 93 145 Neutral 0.651

Information Technology & HardwareStock Price 12M Lo 12M Hi ST Rec Beta

ARM HOLDINGS 611 464 645 Neutral 0.764CSR 230.6 154.1 391.4 Neutral 1.175FILTRONIC 31.25 14.5 35 Sell 0.645IMAGINATION TECHNOLOGIES 713 296.9 717 Neutral 0.969PSION 62 41 102.75 Neutral 1.195SPIRENT COMMUNICATIONS 161.9 105.8 162.2 Neutral 1.021WOLFSON MICROELECTRONICS 189.5 96 260 Neutral 1.061

InsuranceStock Price 12M Lo 12M Hi ST Rec BetaADMIRAL GROUP 1207 787 1754 Neutral 0.538AMLIN 339.6 270.6 427 Neutral 0.472BEAZLEY 142.4 109.6 151.8 Neutral 0.521CATLIN GROUP 418.6 336 449 Neutral 0.314HISCOX 408.3 340.5 424.7 Neutral 0.501JARDINE LLOYD THOMPSON 705 576 764.5 Neutral 0.327RSA INSURANCE GROUP 105.1 99.6 139.8 Buy 0.443NOVAE GROUP 366 285 385.25 Neutral 0.511


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Leisure & HotelsStock Price 12M Lo 12M Hi ST Rec BetaCARNIVAL 1999 1742 2642 Neutral 1.073ENTERPRISE INNS 58.25 26.5 96.15 Neutral 1.735TUI TRAVEL 197.3 136.7 250 Neutral 0.966FULLER SMITH 'A' 715.5 600 752 Neutral 0.450GREENE KING 516 410 523.5 Neutral 0.867LADBROKES 165 114 165 Neutral 0.991ICTL.HTLS.GP. 1464 955 1497 Neutral 1.313MILLENNIUM & CPTH.HTLS. 481.9 371.2 540 Neutral 1.409MITCHELLS & BUTLERS 268.2 215.6 336.8 Neutral 1.036BWIN PARTY DIGITAL ENTM. 159.4 100.6 201 Neutral 1.296PUNC H TAVERNS 11 9.14 15.7 Neutral 1.299RANK GROUP 128.3 109.5 153.7 Neutral 0.976RESTAURANT GROUP 294.7 254.9 335 Neutral 0.870WETHERSPOON (JD) 415.3 380.5 468.3 Neutral 0.731WHITBREAD 1870 1409 1870 Neutral 1.045WILLIAM HILL 265 179.3 265 Neutral 0.946MARSTON'S 100.1 84.6 112 Neutral 1.249

Life AssuranceStock Price 12M Lo 12M Hi ST Rec BetaAVIVA 328.3 275.3 452.7 Neutral 1.240CHESNARA 189.25 161.75 264 Neutral 0.585LEGAL & GENERAL 130.4 89.8 135 Neutral 1.665OLD MUTUAL 159.9 98.05 164.6 Neutral 1.639PRUDENTIAL 754 509 797.5 Neutral 1.730ST.JAMES'S PLACE 354.7 294 376 Neutral 0.808

Media & EntertainmentStock Price 12M Lo 12M Hi ST Rec BetaAEGIS GROUP 185 116.17 187.4 Neutral 1.315BLOOMSBURY PBL. 112 91.25 138 Neutral 0.504BRITISH SKY BCAST.GROUP 675.5 618.5 850 Neutral 0.607CENTAUR MEDIA 37.5 32.5 56.25 Neutral 1.033DAILY MAIL 'A' 460 343.4 505.5 Neutral 1.091EUROMONEY INSTL.INVESTOR 767.5 522.5 809.5 Neutral 1.060INFORMA 446.3 313.9 451 Neutral 1.523

ITE GROUP 223.5 157.7 258 Neutral 1.401ITV 88.65 51.65 89.9 Neutral 1.515JOHNSTON PRESS 6.25 4.11 8.4 Neutral 1.466PEARSON 1184 1038 1255 Neutral 0.681PHOTO-ME INTL. 45.75 39.5 67 Neutral 0.836PINEWOOD SHEPPERTON 267.5 158 292 Sell 0.350THOMSON REUTERS 28.81 26.21 39.25 Neutral 0.510STV GROUP 117.5 76.25 168 Neutral 0.802ST.IVES 82 68.5 102.25 Neutral 1.445TRINITY MIRROR 37 35.25 54.25 Neutral 1.567UBM 635 416 641.5 Neutral 1.312WILMINGTON GROUP 97.25 78.5 154.75 Neutral 0.866WPP 859.5 578 880 Neutral 1.291YELL GROUP 3.86 3.35 11 Neutral 1.312

MiningStock Price 12M Lo 12M Hi ST Rec BetaANGLO AMERIC AN 2339.5 2138.5 3344 Neutral 1.755ANGLO PACIFIC GROUP 300.1 237.9 340 Neutral 0.947ANTOFAGASTA 1152 900.5 1491 Neutral 1.390BHP BILLITON 1934.5 1667 2631.5 Neutral 1.412LONMIN 1035 941 1760 Neutral 1.915RANDGOLD RESOURCES 5280 4580 7565 Neutral 0.307RIO TINTO 3530.5 2712.5 4595 Neutral 1.426UK COAL 16.25 16.25 47 Neutral 0.961VEDANTA RESOURCES 1228 928 2518 Neutral 2.099XSTRATA 1100 764 1550 Neutral 1.786


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Oil & GasStock Price 12M Lo 12M Hi ST Rec BetaBG GROUP 1481 1144 1564 Neutral 0.707BP 464.25 363.2 504.6 Neutral 1.061CAIRN ENERGY 333.2 291.86 531.75 Neutral 1.348FORTUNE OIL 10.25 9 14.75 Neutral 0.849HUNTING 941 530 968 Neutral 1.331JKX OIL & GAS 160 120.5 328.6 Neutral 1.359MELROSE RESOURC ES 121 95.25 297 Neutral 1.128PREMIER OIL 403.9 310 520.5 Neutral 1.362ROYAL DUTCH SHELL A(LON) 2203 1883.5 2402 Neutral 0.908ROYAL DUTCH SHELL B 2228.5 1890.5 2489 Neutral 0.919SOCO INTERNATIONAL 304.9 278 400 Neutral 0.507TULLOW OIL 1526 945.5 1601 Neutral 1.060WOOD GROUP (JOHN) 728.5 469.9 763.5 Neutral 1.344

Personal Care & Household ProductsStock Price 12M Lo 12M Hi ST Rec BetaMCBRIDE 119 108.75 151.06 Neutral 0.880PZ C USSONS 317 285 387.9 Neutral 0.746RECKITT BENCKISER GROUP 3544 3100 3599 Neutral 0.341

Pharmaceuticals & Biotechnology

Stock Price 12M Lo 12M Hi ST Rec BetaARK THERAPEUTICS GP. 3.49 3.13 5.35 Buy 0.950ASTRAZENEC A 2828 2543.5 3194 Neutral 0.445BTG 338.3 231.6 365 Neutral 0.717DECHRA PHARMACEUTICALS 461.5 433 579 Neutral 0.304GLAXOSMITHKLINE 1428.5 1205 1497 Neutral 0.477OXFORD BIOMEDICA 3.07 2.88 7.2 Buy 0.601PHYTOPHARM 7.52 6.4 9.5 Buy 0.917SHIRE 2030 1791 2300 Neutral 0.618SKYEPHARMA 35 31 66.13 Neutral 0.716VERNALIS 24.75 18.75 49 Neutral 0.818

Software & Computer ServicesStock Price 12M Lo 12M Hi ST Rec Beta

TIMEWEAVE 22.63 21.75 27 Neutral 0.721ANITE 127.75 57.75 129.75 Neutral 0.835AVEVA GROUP 1679 1298 1799 Neutral 1.458COMPUTACENTER 432.8 324.7 490 Neutral 1.092KOFAX 302.5 225 524 Neutral 1.092INNOVATION GROUP 20 16.5 23 Neutral 0.903LOGICA 98.8 58.95 144.8 Neutral 1.369MICRO FOCUS INTL. 468.3 242.9 473 Neutral 0.736MISYS 348.5 214.9 420.2 Neutral 1.326PHOENIX IT GROUP 198 154.75 262.75 Neutral 0.878RM 81.25 41.5 156.63 Neutral 0.469FIDESSA GROUP 1639 1444 2109 Neutral 0.810SAGE GROUP 298.9 231.7 312.4 Neutral 0.642

Speciality & Other FinanceStock Price 12M Lo 12M Hi ST Rec BetaABERDEEN ASSET MAN. 269.1 167.8 269.1 Neutral 1.089BREWIN DOLPHIN 170.2 113.7 177 Neutral 0.716CAMELLIA 9600 8800 10950 Neutral 0.860CHARLES STANLEY GROUP 292.5 240 350 Neutral 0.950CHARLES TAYLOR CNSL. 160 115.63 160.5 Neutral 0.715CLOSE BROTHERS GROUP 781 590 829.5 Neutral 0.823F&C ASSET MANAGEMENT 66.7 56.05 81.7 Neutral 0.924HELPHIRE GROUP 1.88 1.36 14.25 Neutral 0.671HENDERSON GROUP 126.9 95.05 171.9 Neutral 1.429ICAP 396.5 311.6 541.5 Neutral 1.080INTERMEDIATE CAPITAL GP. 283.9 197.9 345 Neutral 1.647INVESTEC 381 318.4 522 Neutral 1.558LONDON STOC K EX.GROUP 1060 756.5 1076 Neutral 1.169MAN GROUP 130.1 104.5 259.6 Neutral 1.267

RATHBONE BROTHERS 1291 977 1316 Neutral 0.754SCHRODERS 1539 1183 1906 Neutral 1.325SCHRODERS NV 1205 970 1554 Neutral 1.317


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Support ServicesStock Price 12M Lo 12M Hi ST Rec BetaACAL 205.5 166.25 344 Neutral 0.934AGGREKO 2232 1522 2316 Neutral 1.184AMEC 1142 740.5 1207 Neutral 1.029ASHTEAD GROUP 266.4 99.4 271.1 Neutral 1.500BABCOCK INTL. 827 570.5 828 Neutral 0.553BRITISH POLYTHENE INDS. 344.75 270 392.5 Neutral 0.716BUNZL 1020 676.5 1028 Neutral 0.558UK MAIL GROUP 240 192.25 318.5 Neutral 0.322CAPITA 736.5 611.5 767 Neutral 0.445COMMUNISIS 34.38 23.75 39.75 Neutral 0.748COMPASS GROUP 659 512.5 671 Neutral 0.736BERENDSEN 526.5 402.7 568 Neutral 1.038DE LA RUE 903 730 1001 Neutral #NADIGNITY 827.5 693 854.5 Neutral 0.211DIPLOMA 448 284 453 Neutral 1.014ELECTROCOMP. 247.7 182.2 294.9 Neutral 1.025FILTRONA 476 296.3 479.1 Neutral 1.130G4S 273.3 219.9 292.1 Neutral 0.598HAYS 86.3 58.85 119.6 Neutral 0.985HOMESERVE 238.8 214.7 532 Neutral 0.653INTERSERVE 295 252.75 341.25 Neutral 1.358INTERTEK GROUP 2547 1744 2570 Neutral 0.872JOHNSON SERVICE GROUP 30.5 25.25 36 Neutral 1.156MANAGEMENT CNSL.GP. 39.25 27.75 45.5 Neutral 0.674MENZIES (JOHN) 602.5 445.5 614 Neutral 1.460MICHAEL PAGE INTL. 485 323 567 Neutral 1.365MITIE GROUP 282 196.1 288.3 Neutral 0.609MOUCHEL GROUP 7.43 4.75 86.75 Sell 0.916OFFICE2OFFICE 160.5 122 166.5 Neutral 0.384PAYPOINT 634.5 410.25 639.5 Neutral 0.746PREMIER FARNELL 216.6 144.5 301 Neutral 1.198REGUS 113.2 64 117.7 Neutral 1.420RENTOKIL INITIAL 87.6 58.2 100.9 Neutral 1.312REXAM 429.9 299.8 436 Neutral 0.882RICARDO 360.75 325 410 Neutral 0.819ROBERT WALTERS 245 158.25 326 Neutral 1.230RPC GROUP 362 290 393.2 Neutral 0.815RPS GROUP 245.7 156.6 253 Neutral 1.589

SERC O GROUP 552.5 458 597.5 Neutral 0.586SHANKS GROUP 98.85 90.8 130.9 Neutral 1.465SPEEDY HIRE 27.25 18.5 34 Neutral 1.312TRIBAL GROUP 72.88 37.75 79.75 Neutral 0.620TRIFAST 42 36.25 52.88 Neutral 0.883VP 249.25 191 258 Neutral 0.897WYG 54 47 956.25 Sell 0.765WSP GROUP 252.25 160 366.75 Neutral 0.963

Telecommunication ServicesStock Price 12M Lo 12M Hi ST Rec BetaBT GROUP 227.9 161 232.1 Neutral 0.926CABLE & WIRELESS COMMS. 33.05 31.25 48.92 Neutral 0.650INMARSAT 465.2 389.3 628.5 Neutral 0.530

KCOM GROUP 71.9 59.75 84 Neutral 1.260TELECOM PLUS 701 461 802 Neutral 0.036VODAFONE GROUP 175.55 155.05 182.7 Neutral 0.619

TransportStock Price 12M Lo 12M Hi ST Rec BetaBBA AVIATION 215.6 156 223.4 Neutral 1.403BRAEMAR SHIPPING SVS. 414 282 505 Neutral 0.949CLARKSON 1333 1015 1355 Neutral 0.818EASYJET 485 302.54 495.8 Neutral 0.776FIRST GROUP 226.6 225 370.2 Neutral 1.080FISHER(JAMES)& SONS 599.5 440.5 605 Neutral 0.821GO-AHEAD GROUP 1235 1190 1598 Neutral 0.946NATIONAL EXPRESS 237.2 201.6 270.2 Neutral 1.300NORTHGATE 207.1 190.9 346.7 Neutral 1.375STAGECOAC H GROUP 250.3 215.9 287.4 Neutral 0.897WINCANTON 64.25 56 123.25 Neutral 0.842


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UtilitiesStock Price 12M Lo 12M Hi ST Rec BetaCENTRIC A 321.7 278.8 333 Neutral 0.495NATIONAL GRID 640 569 659 Neutral 0.559PENNON GROUP 717.5 620 737.5 Neutral 0.606SEVERN TRENT 1560 1375 1610 Neutral 0.469UNITED UTILITIES GROUP 608 560 637 Neutral 0.580


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