FINANCIAL TIMES
The Lex Column:
*Great quarter guise (Morgan Stanley) - Some say that John Mack, reinstalled as Morgan Stanley’s boss, can perform miracles. Even they did not expect fourth-quarter earnings over more than 50% above estimates.
*South America - Bolivians elected as president on Sunday a former coca farmer who wants to nationalise the country’s natural gas resources. Last week, Argentina said last week it would repay International Monetary Fund loans early, as its president called the IMF “a vehicle of policies that cause poverty and pain.”
*Japanese consumption tax - Japanese prime minister Junichiro Koizumi has handed shoppers the ultimate Christmas present: another year without consumption tax. But delaying introduction of the controversial tax is more than mere retail therapy.
*Gaz de France - They do things differently in France. With Gaz de France, the government has taken the standard investment proposition of a regulated utility – stable profits and transparency – and turned it on its head.
*Hanson (HNS.L) – Hanson may no longer be a sprawling conglomerate, but its operational performance remains a curate’s egg. Full-year, pre-tax profits are expected to increase by 11-13%, but earnings momentum has slowed over the year and Hanson warned of weakness in the UK in the first half of 2006.
The Lombard Column:
*The price of copper takes on an ethereal mantle – Issues for the London Metal Exchange.
*All that glisters (Lloyds TSB (LLOY.L)/Goldfish).
*Back Wyevale Garden Centres (WGC.L).
Further news:
*Unwins backers to sue ex-owners.
*Lloyds TSB (LLOY.L) sells Goldfish credit card unit for £1-billion.
*Rumours that Numis (NUM.L) had received an approach from Jefferies, the US investment bank.
*Unusual items boost Morgan Stanley profits.
*Why the world is getting a keener grasp on gold.
*Banks pile into sub-prime lending.
*Brewers try to learn the secrets of the craft.
*Talk that big drugs groups are eyeing a takeover of Minster Pharmaceuticals (MPM.L).
*Report of uncommercial oil well highlights vulnerability of sector.
THE TIMES
The Patience Wheatcroft Column:
*Sir Francis (Mackay) has overseen great failures (Kingfisher (KGF.L) and Compass (CPG.L)).
*Playing fair with pensions.
*Go figure - China usurps Britain's 4th position in global economy.
The Tempus Column:
*Hold Forth Ports (FPT.L) for long-term value.
*Avoid Hanson (HNS.L).
*Hold on to Misys (MSY.L).
Smaller Stock to Watch:
*MWB Business Exchange.
Further news:
*Talk of a merger between Numis (NUM.L) and Panmure Gordon (PMR.L).
*Word that UniVision Engineering (UVEL.L) has renewed its maintenance contract with Hong Kong's transit railway for a further 3-years.
*Worries over pension liability leaves ICI (ICI.L) underperforming.
DAILY TELEGRAPH
The Business Comment Column:
*Casualty at Misys (MSY.L) but the issue of succession remains.
*Exit door opens wider for salary pension.
*One Goldfish less but a shoal of jobs to do (Lloyds TSB (LLOY.L)).
The Questor Column:
*Stick with Hanson (HNS.L) but only buy for the long haul.
*Stay on board Forth Ports (FPT.L).
*Buy BAA Group (BAA.L).
Further news:
*Google pays $1-billion for stake in AOL.
*Old Mutual (OML.L) wins new friends in bid for Swedish firm.
*Traders pull crackers and out pops a Cable & Wireless (CW.L) takeover novelty.
THE GUARDIAN
The Notebook Column:
*Investors suffer more Misys (MSY.L) mess.
*Farewell to Sir Francis Mackay.
*European Commission is learning from its mistakes.
Further news:
*Safety fears for fleet of new liquefied natural gas tankers after leaks are found.
*Talk of Newport Networks (NNG.L) placing scares investors.
*Rumours of strong trading at Sainsbury (SBRY.L).
*Talk of a positive update from IB Daiwa boosts Crosby Capital Partners (CSB.L).
THE INDEPENDENT
The Outlook Column:
*Ratting on a pension promise could become the norm, even for the biggest companies.
*Regulator enters Stansted dog fight.
*Cable guys still waiting for the OFT.
The Investment Column:
*Capita (CPI.L) worth having for the long term.
*Sell Hanson (HNS.L).
*Hold Forth Ports (FPT.L).
The Business Analysis Column:
*Unwin's fizz turns flat as administrators take the axe to 1,400 staff.
Further news:
*Oil groups plunge on Dana’s (DNX.L) Mauritania misery.
*Hopes that Steinhoff International might take Homestyle (HME.L) private next year.
DAILY MAIL
The City Focus Column:
*Sky switches over to a high-tech strategy (BSkyB (BSY.L)).
At A Glance:
*Crown collapses (Crown Sports (CSP.L)).
Further news:
*Dairy Crest (DCG.L) linked to French stalker Lactalis.
*Tadpole Technology (TAD.L) steady as rebel shareholders prepare to remove directors off the board.
DAILY EXPRESS
Share Whisper:
*Lookers (LOOK.L) counter-bid for Reg Vardy (VDY.L) could come today.
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