KATE ANDREWS: OUR GUIDE WHERE TO THE ARE THE BEST LIBERALS FILMS, IN THIS PLAYS ELECTION? & ART P22 P32-33 BUSINESS WITH PERSONALITY

FRIDAY 6 DECEMBER 2019 ISSUE 3,516 CITYAM.COM FREE

PELOSI HOPES TO BRING TRUMP IMPEACHMENT VOTE BY CHRISTMAS P18 SO,YOU EXPECT ME TO BUY? BOND CAR MAKER ’S SHARES JUMP AFTER RUMOURS F1 TYCOON IS PLOTTING MAJOR BID

ALEX DANIEL SUV model, the DBX, to the mass market next Martin. Shares debuted at 1,900p last year but @alexmdaniel year. Executives are optimistic that Aston now stand at less than a third of that value, Martin’s recent bad fortune and lacklustre sales following a year of disappointing sales driven SHARES in embattled luxury car maker Aston will be reversed. by a global automotive slowdown and Martin accelerated yesterday, following reports Aston Martin declined to comment as shares uncertainty. that billionaire Lawrence Stroll is gearing up to rose 18.3 per cent yesterday, taking the share The possible bid came a day after the trailer buy a major stake in the firm. price up to just under 600p. The vehicle maker’s for next year’s James Bond film, No Time To Stroll, the father of Formula 1 driver Lance silence indicated that no formal offer has been Die, was released to the public. and owner of the Racing Point F1 team, is said made, due to stock market requirements on The film is set to feature no less than four to be seeking to lead a consortium which would declaring potential takeover bids. Aston Martins — the DB5 and V8 Saloon, along try to take control of the firm in an The news was first reported by Autocar. with the new DBS Superleggera and Valhalla. opportunistic grab while its shares are near After the car maker suffered a precipitous fall Last month, Aston’s chief executive Andy rock bottom. in value since its glitzy float on the Palmer said: “A Bond movie is always a boost to It comes as the iconic British brand, favoured Stock Exchange last year, the share price bump us. It very, very clearly helps us in places like by James Bond, prepares to release its first ever could herald a dramatic turnaround for Aston and the US.”

Another US exec forced to exit over colleague romance ANNA MENIN with a colleague without reporting it as the firm in the same year over conduct @annafmenin required by company policy. violations, following the exit of head of He said: “I regret my mistake and I human resources Jeff Smith in July. A SENIOR Blackrock executive is leaving accept responsibility for my actions.” It follows a string of US senior executives the world’s largest asset manager after In a separate memo, Blackrock chief resigning over consensual relationships failing to disclose a consensual executive Larry Fink and chairman Rob with an employee. McDonald’s fired chief relationship with a colleague. Kapito said Wiseman was leaving as a executive Steve Easterbrook in November In an internal memo, Mark Wiseman, result of the violation. following one such relationship, while Intel Blackrock’s global head of active equities, The pair said it is “deeply disappointing” boss Brian Krzanich resigned in June 2018 said he had been romantically involved that two senior executives had departed after the company learned of the violation.

FTSE 100 ▼7,137.85 -50.65 FTSE 250 ▲20,707.33 +41.85 DOW ▲27,677.79 +28.01 NASDAQ ▲ 8,570.70 +4.03 £/$ ▲ 1.316 +0.007 £/€ ▲ 1.186 +0.004 €/$▲ 1.110 +0.002 02 NEWS FRIDAY 6 DECEMBER 2019 CITYAM.COM

VELOCIRAP-BRRRR Dinosaurs enter the ice age ahead of world famous Dutch Zwolle festival tracing the world’s (frozen) history THE CITY VIEW Tory border policy will need some revisiting

HERE has been much discussion of the Tories’ planned Aussie-style points-based immigration system in this Telection. The Conservatives present the issue as a welcome chance to reboot the UK’s border policy once we leave the , and there is much credit to that objective. ’s ludicrous “tens of thousands” pledge came with her from the Home Office to Downing Street and made little sense in either; ours is an open economy in which immigration is a vital part of providing our economy with the skills we need. What concerns, however, is how this points-based system might actually work in practice. The phrase of this election, when it comes to this thorny topic, is that we would be able to welcome “the best and brightest.” A TYRANNOSAURUS rex and a velociraptor prepare for their opening night at the IJsselhallen in Zwolle, the Netherlands. The Now, there is much to applaud. The commitment to allow those festival, which runs until March, traces a “journey through time” which stretches from prehistory to the evolution of man and on to the Second World War. A team of about 40 professional ice sculptors work on the sculptures for more than two weeks. foreign students who graduate from our universities to stay for longer and begin their lives here, and ditto for the so-called startup visa — whatever that may actually entail — are both Immigration must very welcome indeed. Making work for the Permanent job sure high-skilled people can UK shoppers hold come and stay is a no-brainer. whole economy But a brief stroll around the placements fall City makes it abundantly clear that whatever system is introduced must also allow for out for bargains immigration that is not reliant on university degrees or salary to a decade low thresholds. Our pubs and restaurants wouldn’t survive without JESS CLARK a healthy flow of labour, and agricultural firms are already @jclarkjourno wondering how they will provide the goods that shoppers want JESS CLARK the fact that Black Friday this year fell in the aisles if temporary “picking” labour is shut off completely. @jclarkjourno a week later than in 2018 showed that THE NUMBER of permanent job bricks and mortar sales were up three appointments dropped last month Schools and hospitals will assuredly get some sort of free pass to HIGH street sales plunged the week per cent in November, according to as growth in the demand for staff restrictions, but that will not help outsourcing firms. And before Black Friday as shoppers held the latest research by BDO. fell to a 10-year low due to political whilst some may be transient visitors to the country, many will out for bargains, according to the Retailers reported a bumper Black uncertainty heightened by the latest data released today. Friday this year as shoppers hunted upcoming General Election. stay, build their lives here — running the restaurants they Like-for-like sales fell 17.14 per cent for the best deals. Footfall increased November’s drop in permanent started work in, doing night courses that enable them to move before Black Friday, in one of the 3.3 per cent across the UK, despite pre- appointments stretched the length up the career ladder. Elections are elections, and it doesn’t take worst weekly drops seen since the dictions it would drop 4.4 per cent. of the decline to nine months, the a cynic to suggest that election pledges do not necessarily turn Beast from the East weather storm BDO head of retail and wholesale longest period of contraction since decimated sales in March 2018. Sophie Michael said: “The figures for the financial crisis. However, while into policy. But rhetorically appealing though the “best and Online sales also suffered as con- November are difficult to interpret as permanent placements fell in the brightest” phrase is, it may not work in practice — and plenty of sumers waited for price cuts. Non- a late Black Friday means year-on-year south of and the midlands, industries will feel the pain. If the Tories do win the election, store like-for-like sales increased 2.8 comparisons are not straight they rose in London and the north. per cent in November from a base of forward... What is abundantly clear, Meanwhile the demand for balancing the needs of the whole economy will be vital to 18.2 per cent last year. however, is just how important the temporary staff remained strong, ensuring our businesses have the people they need to grow. However, in the week leading up to promotional event and heavy with short-term worker billings Black Friday — which fell a week later discounting have become to the growing slightly during the month this year — in-store and non-store sales high street. — in some cases due to a soared 24.05 per cent and 29.1 per “Shoppers simply weren’t willing to reluctance to take on permanent cent respectively, demonstrating the part with their pounds until hefty employees, according to research impact of the discounting event on price-cuts took place, as the steep published today by KPMG and the high street stores. decline the week before Black Recruitment and Employment Follow us on @cityam Figures adjusted to take account of Friday illustrates.” Confederation.

FINANCIAL TIMES THE TIMES THE DAILY TELEGRAPH THE WALL STREET JOURNAL CVC IN TALKS WITH FIFA WHAT THE SURGE IN MULTI-MILLION- BOEING ADMITS IT COULD UNITED AIRLINES CHIEF OVER NEW TOURNAMENT OTHER POUND PROPERTY SALES HALT 737 MAX PRODUCTION EXECUTIVE TO STEP DOWN Buyout group CVC Capital Partners has Wealthy homebuyers are ignoring Boeing could temporarily halt or further United Airlines said its chief executive, held talks with Fifa and Real Madrid PAPERS SAY political uncertainty to snap up million- cut production of its bestselling 737 Max Oscar Munoz, will step down after four- about funding the creation of ambitious pound-plus homes across Britain, airliners as regulators increase scrutiny and-a-half years at the helm, promoting new global football tournaments that THIS according to research for the Times of the jet, the company has confirmed an air travel veteran to continue one will challenge the sport’s most popular which showed that top-end sales rose in a letter to the US Securities & of the industry’s biggest turnarounds. leagues. CVC is holding discussions with MORNING five per cent in the first half of this year. Exchange Commission after the Scott Kirby will assume the top job Fifa — international football’s governing regulator told Boeing to clarify financial in May. body — about acquiring the HONG KONG DEMOCRATS statements. commercial rights to the revamped MOVE TO OUST CARRIE LAM GENERAL MOTORS TO INVEST Club , a tournament that will A group of democrats has initiated a BAUER MAY BE FORCED TO IN ELECTRIC CAR BATTERIES feature some of the biggest football motion to remove Carrie Lam, Hong SELL OFF RADIO STATIONS General Motors and South Korea’s LG teams on the planet. Kong’s chief executive, on the grounds The owner of Kiss and Magic radio Chem plan to build a large battery of running an organised cyber crime of dereliction of duties that has led to could be forced to sell dozens of local factory in Ohio in a $2.3bn (£1.75bn) RUSSIANS CHARGED OVER syndicate that stole hundreds of six months of unrest in the city. This stations due to fears its expansion will joint venture. The new plant would be GLOBAL BANK FRAUD millions of dollars from victims in over attempt is the most high-profile hurt independent broadcasters. Bauer among the world’s biggest producing US and UK officials announced charges 40 countries. Maksim Yakubets and Igor political move on the part of the may have to unwind four deals agreed battery cells for electric cars, rivaling against two Russian nationals accused Turashev were charged yesterday. democrats since mass protests erupted. in February and March. Tesla’s Gigafactory. CITYAM.COM FRIDAY 6 DECEMBER 2019 NEWS 03 UK Serious Fraud Not ‘appy: Khan hits out at ‘brash and aggressive’ Uber management Office launches STEFAN BOSCIA passenger safety, however it can still industry leader in safety. An Uber @Stefan_Boscia operate while appealing the ban. spokesperson said: “Over the last two TfL’s investigation found there months we have audited every driver SADIQ Khan yesterday lashed out at were unlicenced and uninsured in London and further strengthened Uber by criticising the firm’s drivers on the app. However, Uber’s our processes.” However, the mayor Glencore probe response to its London ban, while UK general manager Jamie Heywood of London doubled-down yesterday. also shaming the app for allowing a called the decision as “extraordinary Speaking to LBC, Khan said: “I can driver to operate despite possessing and wrong”. Khan slammed Uber’s now tell you there was an example of child pornography. response, telling Bloomberg it was a driver having obscene photos of a JAMES BOOTH with corruption in the Democratic Transport for London (TfL) refused “brash” and “aggressive”. child on their social media drive. @Jamesdbooth1 Republic of Congo (DRC), Venezuela to renew Uber’s licence last month Uber has consistently said it has “How can TfL not err on the side of and Nigeria. due to a “pattern of failures” around done much to improve and is now an caution?” SHARES in mining giant Glencore fell Over the course of this year, nine per cent yesterday after the com- Glencore’s shares have fallen more pany said it was being investigated by than 20 per cent, pressured by the Serious Fraud Office (SFO). broader concerns about safety and In a statement to the stock market, sustainability in the DRC. the company said: “Glencore has been On Tuesday, the company’s chief notified today that the SFO has executive Ivan Glasenberg hinted he opened an investigation into suspi- could step down next year, having cions of bribery in the conduct of said in 2018 he expected to retire in business of the Glencore group. Glen- the next three to five years. core will co-operate with the SFO.” Peter Jones, campaign leader at anti- The SFO said: “The SFO confirms it corruption group Global Witness, is investigating suspicions of bribery said: “We have repeatedly called for in the conduct of business by the the SFO to investigate Glencore’s DRC Glencore group of companies, its deals and, if wrongdoing is found, to officials, employees, agents and hold the company and its manage- associated persons. ment to account.” “As this is a live investigation we can- Separately, US law firm Boies not comment further.” Schiller said yesterday it had secured 7L[LY(SSLU Shares in Glencore fell nine per cent litigation funding and after the event @PeteAllen94 to 216p following the announcement. insurance to launch an investor class Since July last year, Glencore has action lawsuit in the UK against Glen- been subject to a US Department core that could run into the billions. of Justice enquiry in connection Glencore declined to comment. 6VVVQ\Z[TPZZLK[OLJ\[VɈMVY 4J+VUHSK»ZIYLHRMHZ[ PUFFED UP Luxury jacket maker Moncler shares jump on reports of sale to Kering

1 Jan 2018

SHARES in high-end coat retailer Moncler jumped 6.5 per cent to €41.40 yesterday following reports that Gucci owner Kering is mulling a takeover bid, despite Moncler boss Remo Ruffini’s instance that there is no “concrete” deal in the works. Tiffany & Co earnings dive after Hong Kong protests tarnish sales

JESS CLARK in the Asia-Pacific region were flat at @jclarkjourno $294m during the period, following double-digit growth in mainland LUXURY jewellery maker Tiffany & Co China and a 49 per cent drop in yesterday reported a sharp drop in Hong Kong due to “significant Breakfast. Now served until 11am earnings in the third quarter after disruption” caused by clashes disruption caused by protests in Hong between demonstrators and the Kong hit sales, ahead of the authorities. company’s acquisition by Louis Last month LVMH announced it Vuitton owner LVMH. had struck a $16.2bn deal to buy the The company posted net earnings iconic New York brand, as the luxury of $78m (£59.3m) in the three consumer group attempts to bolster months to 31 October, down 17 per its jewellery and watch portfolio, © 2019 McDonald’s cent on the $95m in 2018. which already includes Bulgari and The US jeweller said total net sales Tag Heuer. Tiffany & Co, Tiffany & Love For Him Eau de Toilette, 90ml, £75 Tiffany & Co, Tiffany & Love For Her Eau de Parfum, 90ml, £110 Click by 8pm, collect from 2pm

Prices stated are for 90ml. Prices correct at time of going to print. CITYAM.COM FRIDAY 6 DECEMBER 2019 NEWS 05

TRUCKING HELL Eddie Stobart brings in adminstrators ahead of shareholder vote KPMG sells pensions arm in private equity-backed mangement buyout JAMES BOOTH transfer to the new business, which financial issues by Deloitte, with will be called Isio. Macfarlanes acting as legal adviser. @Jamesdbooth1 The price of the deal was not The pensions partners are being KPMG has agreed to sell its pensions disclosed, but previous reports advised on financial issues by Liberty arm in a private equity-backed suggested the pensions business was Corporate Finance, with Addleshaw buyout, it said yesterday. valued in excess of £200m. Goddard acting as legal adviser. The acccountancy giant said it had Andrew Coles, currently UK head Exponent saw off competition signed a conditional agreement to of pensions at KPMG, will be the from other interested parties such as sell its pensions practice to a new business’ new chief executive. professional services firm Duff & firm, which is backed by Exponent KPMG is being advised on the sale Phelps to clinch the deal. and KPMG’s 20 pensions partners. by its own corporate finance team KPMG is engaged in a £100m cost- All 20 partners and 500 staff will while Exponent is being advised on cutting process called Project Zebra.

TROUBLED trucking company Eddie Stobart is said to have lined up Deloitte to act as its administrator ahead of a shareholder meeting that will decide on its future today. Investors are set to vote on a £55m financing package from Dbay Advisers. Blackstone eyes bid for student property giant

SEBASTIAN MCCARTHY City sources said that IQSA had drafted in four additional banks to @SebMcCarthy look at options around a potential PRIVATE equity giant Blackstone is London IPO in 2020. said to be mulling a £4bn swoop Citi and HSBC have been reportedly on one of Britain’s largest student hired as bookrunners, with Panmure property developers. Gordon and Peel Hunt being handed IQ Student Accommodation has co-lead manager roles. Goldman attracted the attention of Blackstone Sachs is working on the dual-track ahead of a potential sale or initial process, with Morgan Stanley public offering (IPO) next year, and Eastdil Secured having been according to Sky News. appointed several months ago. The broadcaster has reported that Interest in IQSA comes amid rising Blackstone is one of several private appetite for student property among equity firms interested in lodging a investors, with a report from bid for IQSA. earlier this year show- Blackstone is the world’s largest ing the UK’s purpose-built student investor in property, with €200bn accommodation market is valued at (£168.8bn) worth of real estate assets more than £50bn. under management. Blackstone and IQSA did not IQSA is the UK’s largest provider respond to a request for comment. of purpose-built student accommoda- The move would mark the latest in tion by value, owning 66 halls of a string of recent major corporate residence with roughly 28,000 deals in the sector, coming a bedrooms. month after the UK competition Investment bank Goldman Sachs watchdog approved the £1.4bn owns a 70 per cent stake in the firm, acquisition of student accommoda- while the Wellcome Trust controls a tion provider Liberty Living by rival 28 per cent holding. firm . Law firm and funds adviser MJ Hudson lines up December float

JAMES BOOTH services to asset managers and institutional investors, as well as @Jamesdbooth1 providing fund management and HYBRID law firm and fund adviser MJ administration services, and Hudson is lining up a mid-December investment advice. listing on London’s junior market. If MJ Hudson floats, it will be the The firm has appointed broker second law firm to list in London Cenkos Securities to advise on the this year, following DWF’s main float and has issued a schedule one market offering in March. document as a first stage in the One broker said: “This is a difficult listing process. market, if they get it away that is a The firm was founded by former SJ pretty good job and it would show Berwin private equity partner the resilience of the sector.” Matthew Hudson in 2010. Six UK law firms have listed since MJ Hudson aims to provide legal the first — Gateley — floated in 2015.

CITYAM.COM FRIDAY 6 DECEMBER 2019 NEWS 07 ELECTION 2019

PARTY OF ONE? MEP trio desert Farage POLL WATCH Boris: NHS claim Poll aggregator Britain Elects yesterday pointed for the first time to a Tory lead of less than 10 points yesterday, with a “poll of polls” putting the Tories on 42.4 per cent and Labour climbing 1.4 per cent to 32.8. In our First Past The Post electoral is ‘UFO spotting’ system, experts believe the Tories need a lead of more than seven to guarantee a majority. GOOD DAY JOE CURTIS Johnson later reaffirmed to 5News @joe_r_curtis that he would not extend the UK’s Chinese tech firm Huawei have had a Brexit transition period beyond tough time recently, but they received a PRIME Minister Boris Johnson has December 2020, despite trade experts burst of unexpected publicity yesterday compared a leaked 451-page docu- believing completing a full as photos emerged of Boris Johnson ment, heralded by Labour as proof trade deal before the UK’s taking a selfie with ITV’s Philip Schofield of a Tory plot to privatise the departure in January — if and Holly Willoughby. Considering NHS, to photos of UFOs. the Conservative party THREE Brexit Party MEPs yesterday exited the party and urged voters to support the Downing Street is still umming and Labour leader secures a victory — Tories in order to deliver the UK’s departure from the EU. Annunziata Rees-Mogg, ahhing about whether or not to give the revealed the unredacted would present a chal- and said it had “not been an easy decision for any of us”. firm access to the UK’s 5G network, it’s no documents detailing prelim- lenging timetable. surprise a Tory source confirmed that it inary trade talks between the Yesterday chancellor was not Boris’ phone... US and UK late last month, Sajid Javid backed the BAD DAY saying they were proof PM’s claim, but Labour Labour pledges business agency that the NHS was peer Charlie Falconer Labour, having had the coffers stuffed by “on the table” slammed the Tories’ lack STEFAN BOSCIA advice, finance and large scale the unions, was nonetheless looking upon for a post-Brexit of detail. @Stefan_Boscia government contracts”. the Tories with jealousy as new figures deal. But yester- “Javid won’t engage It comes alongside 19 other showed the latter raised around £3.6m in day Johnson rub- in any discussion LABOUR has pledged to create a state- pledges, including creating two state the third week of the campaign, bished the claims. with how the run business support agency as part banks, scrapping quarterly reporting compared to £500,000 for the “There are photographs that government will get of a spate of policies intended to help for businesses under £85,000 and opposition. Much of it came purport to prove that there are a trade deal which involves regulatory small to medium enterprises (SMEs). “stamping down” on late payments. from financial services UFOs, but it is complete nonsense,” divergence in a matter of months,” If elected, the party will create the Trade secretary Liz Truss derided businessman Peter he told This Morning when asked the former justice secretary tweeted Business Development Agency to the plans, saying that SMEs “don’t Hargreaves, who gave the about the dossier. following the interview. assist companies to “access business need a new quango”. Conservatives a cool £1m. 08 NEWS FRIDAY 6 DECEMBER 2019 CITYAM.COM DUCKING AND DIVING Unsworth refuses Watchdogs to AJ Bell chief in to apologise to Musk amid defamation trial A BRITISH cave crack down on diver suing Tesla founder Elon Musk for calling him a bank glitches ‘domino effect’ “pedo guy” on Twitter, yesterday HARRY ROBERTSON refused to apologise to the @henrygrobertson billionaire UK REGULATORS yesterday proposed businessman. new rules to make banks and worry over M&G Vernon Unsworth payment firms more resilient to said his criticism major problems in the wake of TSB’s of Musk — that he IT meltdown. ANNA MENIN surprised him, adding: “I’m only should “stick his MPs called for regulatory changes AND SEBASTIAN MCCARTHY surprised by the fact that people submarine where in October after repeated were surprised”. it hurts” — was technological failures by lenders such @annafmenin, @SebMcCarthy He said that investors “should accept not a personal as TSB, Visa, Barclays and RBS. THE SUSPENSION of M&G’s £2.5bn that gating the property funds is part attack. Yesterday, the Bank of England and property fund risks triggering a of the cycle”, but added that there was the Financial Conduct Authority “domino effect” in the sector as a risk of a domino effect of more (FCA) proposed that banks and investors rush to withdraw their property funds gating following the payment firms should have to money, the head of investment plat- M&G suspension. identify their most important form AJ Bell has warned. “If one by one they all gate, it doesn’t businesses and set the maximum Andy Bell told City A.M. the suspen- look great,” said Bell. level of disruption they would accept. sion could be “contagious” for the sec- Funds that invest in illiquid assets Mounting outflows at property They would then have to lay out tor because a “domino effect” could but offer daily trading have come backup plans to make sure any lead to further property fund suspen- under sustained scrutiny following disruption stays within these bounds. sions. Asset manager M&G gated its the spate of suspensions after the ref- funds amid contagion concerns FCA chief Andrew Bailey said: Property Portfolio fund on Wednesday erendum and the collapse of Neil “Disruptive events can have a high following unusually high outflows, Woodford’s investment empire earlier ANNA MENIN cash to meet withdrawal requests. impact on consumers and businesses and blaming Brexit-related uncertain- this year, which had faced a similar Aberdeen Standard’s UK Property so firms and financial market ty for making it difficult to sell liquidity mismatch. @annafmenin Fund experienced the second infrastructures need to know where commercial property. Standard Life Aberdeen’s UK property M&G’S suspended Property Portfolio highest net outflows at £371m, the risks to their service delivery lie It is the second time in less than four fund suffered investor withdrawals of shed the most investor cash of any while Columbia Threadneedle’s UK and to make sure that they are years that the fund has suspended £31m on Wednesday. Daily outflows property fund in the six months to Property Authorised Investment prepared for any service disruption by trading — it was among those that from the £1.3bn fund reached levels October. Investors pulled a net £577m fund came in third with £303m net testing their planned response.” halted trading immediately after the nearly equalling withdrawals for the from the fund, Morningstar data outflows. The former held 14.6 per The regulators have submitted Brexit referendum in 2016. Bell said previous four months combined, the showed yesterday, before managers cent cash at the end of last month, their proposals to the public for that news of the suspension had not Financial Times reported. gated it fund after running out of while the latter holds 10 per cent. consideration.

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£10. Frei Brothers Sonoma Chardonnay 75cl, was £17.99, now £10. La Perriere Pouilly-Fumé 75cl, was £16.79, now £10. Chateau Saint-Martin Listrac-Medoc 75cl, was £14.99, now £10. Colomé Malbec 75cl, was £17.49, now £10. Feuerheerd’s Special Reserve Tawny Port 75cl, was £14.99, now £10. Selected stores and illustrative purposes. 18+ to purchase alcohol. 10 NEWS FRIDAY 6 DECEMBER 2019 CITYAM.COM Electric vehicles Jingye ‘furious’ as British Steel rack up a tenth readies for sale EDWARD THICKNESSE @edthicknesse THE CHINESE buyers of British Steel have reportedly been left of new car sales “furious” as it emerged that the failed steelmaker’s French factory is for sale separately from the rest ALEX DANIEL increase the range of electric cars on of the company. @alexmdaniel offer to drivers, rather than modest Last month China’s Jingye struck government incentives. a deal to buy the whole of the BRITAIN’s drivers bought more Michael Woodward, head of UK au- collapsed manufacturer, with the electric vehicles last month than ever tomotive at Deloitte, said it came after firm to pay about £50m to take before, as demand for fully electric “significant investment in the tech- The budget airline’s capacity fell 27 per cent year on year in November over the business, saving 4,000 jobs battery cars surged more than nology by manufacturers”. in the process. three-fold. The world’s top 20 car makers spent The conditional deal included all In November, pure electric battery a record £70bn on research and devel- of British Steel’s assets, covering car sales rose 228 per cent compared opment last year. Fewer flights helps Norwegian subsidiaries such as the Hayange to the same period last year, with James Fairclough, chief executive of mill in northern France, which 4,652 of the vehicles registered. AA Cars, said: “It is a sure sign that produces rail for train lines. Meanwhile, one in every 10 new cars drivers are increasingly committed to Air boost airline’s profitability However, the Financial Times sold last month was a hybrid or fully- playing their part in reducing emis- yesterday reported that a new electric car, as so-called alternatively sions when selecting a new car. process is underway to find a buyer fuelled vehicles took a record 10.2 This is partly facilitated by the in- TERJE SOLSVIK passenger rose 12 per cent to 0.37 for the factory, which is a strategic per cent market share, according creased range of electric and hybrid Norwegian krone (3p), beating a 0.35 industrial asset for the French to the influential trade body the Soci- models available.” NOVEMBER traffic figures released krone forecast. government, meaning it can grant ety of Motor Manufacturers and However, electric battery-powered yesterday showed Norwegian Air’s Norwegian has shaken up the or withhold approval for any Traders (SMMT). cars still only made up three per cent drive to slash flights is helping to transatlantic travel market with low change of ownership. SMMT chief executive Mike Hawes of the overall UK car market, and improve profitability. fares, but breakneck expansion also Efforts to complete Jingye’s deal said it was “good news” that electric Hawes urged politicians to give the The cut-backs helped the budget brought mounting debts and losses. are still underway. Business car sales were surging. sector a boost in the new year. carrier fill remaining flights, The company raised cash from its secretary Andrea Leadsom on Hawes and other industry experts “There is still a long way to go for increasing the number of seats sold owners in November for a third time Wednesday said the sides were agreed that the growth was mainly these vehicles to become main- on each aircraft as well as income per in 20 months. It cited tough working “flat out” to get the deal down to work done by car makers to stream,” said Fairclough. passenger. The airline’s income per competition in the EU market. Reuters over the line. CITYAM.COM FRIDAY 6 DECEMBER 2019 NEWS 11

TERMINAL PROBLEMS Ex-Ofcom boss to advise regulator on Heathrow competition Equity funds show signs of recovery following record quarterly outflows ANNA MENIN Investment Association (IA). political and economic uncertainty @annafmenin “Following a tough third quarter draws to a close, savers are of record outflows, equities considering all their options.” EQUITY funds bounced back to net experienced a modest revival,” said Property funds experienced inflows in October, with the sector IA chief executive Chris Cummings. outflows of £133m in October — the showing signs of recovery following a Overall savers poured £2.5bn in 13th consecutive month of outflows bruising third quarter of record funds in October, with £1.3bn of this amid concerns over the impact outflows. Investors ploughed £648m invested into bond funds. Fixed Brexit could have on property prices. into equities in October in a much- income, mixed asset and money AJ Bell’s Laura Suter said the needed boost for the funds following market asset classes all also suspension of M&G’s £2.5bn £1.7bn outflows the previous month, experienced net inflows. Property Portfolio meant that “all according to data from the Cummings added: “As a year of eyes” would be on the sector.

FLINT Global, a firm set up by former Ofcom boss Ed Richards, has been appointed to advise the Civil Aviation Authority on whether London Heathrow airport’s terminals could be operated by third parties, broadcaster Sky News reported yesterday. DS Smith suffers ‘difficult’ period as shares slump

ALEX DANIEL Russ Mould, investment director at @alexmdaniel AJ Bell, said: “The company argues it has achieved a better performance PACKAGING giant DS Smith suffered than the wider market, but even if from weak paper prices and worse- this is the case it is hardly a reason for than-expected volumes over the last investors to get excited.” six months, amid “difficult” market “The growth of e-commerce, which conditions, the firm said yesterday. requires boxes to send goods out to It comes as analysts projected that consumers, saw market sentiment to- the industry’s momentous growth on wards packaging companies reach the back of online shopping in recent fairly elevated levels for a while, but years appears to be losing steam. today’s update from DS Smith adds to Shares in DS Smith fell 7.2 per cent signs that the growth story is losing yesterday to 351.8p. momentum,” he added. Pre-tax profit grew 31 per cent in the DS Smith maintained the e-com- six months to the end of October, to merce market would continue to be a £213m, as revenue climbed 3.9 per key driver of growth. cent to £3.2bn. However, operating profit came in DS SMITH three per cent lower than analyst expectations at £351m, and like-for- 390 P like revenue fell five per cent. DS Smith has made a number of 380 acquisitions in recent months, which 370 it said was the “principal” driver of its 5 Dec robust profit and revenue growth. 360 351.80 But the firm said organic volume growth for its corrugated boxes was 350 below forecasts, and that pricing was under pressure. 28 Nov2 Dec 3 Dec 4 Dec 5 Dec Private equity exits via market listings fall as environment bites

ANNA MENIN per cent the year before. @annafmenin Mergermarket’s Gustav Sandstrom said European private equity firms THE NUMBER of European private were “increasingly shying away from equity exits completed via listings is exits via IPOs as tough market declining as sponsors seek alternative conditions force them to consider routes amid challenging market other options”. conditions, new figures have shown. Across Europe, there have been 11 Of the European private equity IPO listings so far this year with a € exits that have taken place so far this combined offering size of 5.8bn +44 (0)20 7973 5602 | [email protected] year, just 1.4 per cent were initial (£4.9bn). This represents a public offerings (IPOs), according to significant drop on the 21 deals FORTNUMANDMASON.COM/CONCIERGE Mergermarket data. worth a combined €7.8bn for the This figure is down from 2.1 per whole of 2018, and 53 offerings cent for the whole of 2018 and 4.8 worth €16.2bn the previous year. THE ELECTION SPECIAL

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In association with IG CITYAM.COM FRIDAY 6 DECEMBER 2019 NEWS 13

News and views from the City, EDITOR’S NOTES Westminster & beyond ANDY SILVESTER DEPUTY EDITOR @SILVESTERLDN CHRISTIAN MAY IS AWAY

This election has £ Walking across London SIGNS OF HOPE Bridge to work this week has IN BEIRUT been tough, with reminders shown our politics has of the awful events at the end Lebanon is one of the world’s of last week everywhere. The become too toxic most beautiful countries, let tributes paid to Saskia Jones down by venal and and Jack Merritt have been VIDEO doing the rounds supporters who turn too much of a vainglorious politicians. The heartbreaking. But as my Ayesterday saw Jeremy blind eye to instances of protests now stretching into former colleague John Corbyn supporters Islamophobia in their own party. their third month have seen Sturgis noted yesterday, confronted with their dear leader’s But whether it’s social media or hopes rise that true something else has been own words, but with a twist: they our increasingly divided society, democracy might finally be noticeable — more were put to them as if they were something has gone very wrong on the way. This sculpture, in commuters than ever taking said by his opponent in this indeed in the way we as a public Beirut’s Martyr’s Square, a moment to photograph the election, Boris Johnson. approach politics. When I stand on reads ‘revolution’ and is made extraordinary view along the The response to “Boris” the terraces at AFC Wimbledon, from protestors’ tents that river. As he put it: “It’s a tonic providing a foreword to a book I’m allowed to be completely one- had been ripped down by the to the horrors of last Friday.” written by a conspiracy theorist eyed — but it’s a worry when we Hezbollah militia. Such This is the greatest city in the who described the Jews as a start to look at complex issues, or defiance would have been world — and we must never “peculiar and ugly race”? “That’s a even simple ones like racism, in unthinkable just months ago. take it for granted. bit harsh even for him to say that.” the same way. What about “Boris” describing a One can even see this in the man convicted for pushing complaints that come into the £ Emmanuel Macron loves schools and transport and the £ The untimely death of Bob antisemitic tropes, including the BBC about supposed bias. nothing more than a little grand- level of violence on the streets is CAN I QUOTE YOU ON THAT Willis, one of England’s greatest blood libel, as an “honoured” Complaints roll in from standing on the international stage quite extraordinary. Macron’s fast bowlers and the best friend? Would somebody who said Corbynistas about presenters and he got plenty of opportunities response has been to place ever supporting actor, to to speak, in that be fit for office? “No,” said allegedly failing to challenge Boris to do so at this week’s Nato more focus on the world beyond the ‘81 “Botham Ashes” had us one. “Had that been in the Labour on Brexit; Tories slam them for meeting to celebrate the Alliance’s his shores as the self-styled talking about the unsung heroes party they would have been reporting Corbyn’s ludicrous claim 70th birthday on Tuesday. antidote to the populism of Trump Less than ideal of other great English sporting expected to resign,” said another. that the NHS is “for sale”. But at home, he has rather more et al. Now, Macron is attempting to victories. In rugby, Richard Hill and Of course, the punchline — that Whoever wins the election, the pressing issues: the so-called gilets make the French economy more Liberum analysts respond Neil Back’s work on the floor this was the Labour leader, not culture war must come to an end. jaunes have been spending their competitive — an ambition for with noted understatement against Australia in 2003 is up Boris — was far from funny. “Is that It is doing untold damage to our Saturdays out on the streets for which he should be congratulated. to the discovery of a £25m there, as is Jos Buttler’s 59 in the the truth? I still think vote Labour,” body politic and will make cross- more than a year now, and show But perhaps focusing a little more accounting error at high cricket world cup final this said one. Others said far, far worse. party consensus on issues like no sign of disappearing as a on making his case at home might street retailer Ted Baker summer. As for ‘66? Well, we Now, it’s not just one side: there social care impossible. The healing disruptive force. The general strike, improve his 61 per cent probably owe a debt to the Azeri are far too many Conservative must start on 13 December. which began yesterday, has shut disapproval rating. linesman for that one... NEWS Transport to Europe crippled as French national strikes take hold of the streets ALEX DANIEL An estimated 50,000 international abandon plans to overhaul France’s @alexmdaniel rail passengers have had to make generous pension system. other arrangements. Transport networks in Paris TRAVELLERS trying to get the It comes as a French national strike ground to a near halt as unions dug Eurostar to the continent were also forced airlines such as Easyjet, in for a protest that threatens to thwarted yesterday, after 78 trains British Airways and Ryanair to cancel paralyze France for days, and poses linking London to Paris, Belgium and flights to European cities. the most severe challenge to Macron’s the Netherlands were cancelled amid Travel workers were joined by reform agenda since the so-called ongoing strikes in France. teachers and emergency room medics gilets jaunes, or “yellow vest” protests The most affected routes are for in launching one of the biggest erupted. Rail workers voted to extend trains from St Pancras to Paris, with public sector strikes in France for their strike today, while unions at the cancellations scheduled to take decades yesterday, determined to Paris’ transport operator said it would place between 5–8 December. force President Emmanuel Macron to continue until Monday. Riot police in Nantes, western France, fired tear fas at masked protesters 14 NEWS FRIDAY 6 DECEMBER 2019 CITYAM.COM IN BRIEF LONDON AD FIRM OGURY HSBC TO BRING IN 40 PER MOODY’S DOWNGRADES Help for Heroes sing away RAISES $50M IN FUNDING CENT OVERDRAFT RATE GLOBAL BANKS’ OUTLOOK JINGLE BELLS London-based mobile advertising firm HSBC is set to bring in a controversial The outlook for global banks was the blues for Christmas charity fundraiser Ogury has raised $50m (£38m) in fresh single overdraft rate of almost 40 per slashed by credit ratings agency Moody’s funding as it looks to expand into new cent for its customers next year. Current yesterday. Weakening economic growth, international markets. Ogury yesterday rates are between 9.9 per cent and 19.9 low interest rates and more volatile announced it has secured the backing in per cent but all account holders will be operating conditions will increase the a round led by private equity firm charged 39.9 per cent by HSBC as of next credit challenges for lenders across the Idinvest, with additional funds from March. The banking giant is following in world, Moody’s Investors Service said in various banks. The ad tech firm, founded the footsteps of Nationwide Building a report. The agency cut its outlook from in 2014, provides mobile marketing Society by introducing a 39.9 per cent stable to negative. “Risks are on the services to brands, with a focus on overdraft rate, which comes in response downside for banks,” said Simon ensuring compliance with data to new legislation from the Financial Ainsworth, associate managing director protection laws such as the EU’s General Conduct Authority (FCA). The move at Moody’s. He added: “Rising recession Data Protection Regulation (GDPR). means that some customers will have risk in the US and Europe, together with Ogury pulled in revenue of $100m in their overdraft rates quadrupled. HSBC slowing growth... will lead to 2018 amid a rapid period of growth since has said it is removing a £5 daily fee for deteriorating loan quality and higher its creation five years ago. The firm now going into an unarranged overdraft. The loan-loss provisioning costs.” A return to employs more than 400 people across lender said that seven in 10 customers monetary easing and the use of negative 18 offices, and works with over 1,500 who use an overdraft will find it cheaper interest rates in some regions has brands globally. or the same. ramped up the pressures on profitability.

THE HELP for Heroes Choir brought some festive cheer to Victoria Station yesterday as part of the charity’s annual Christmas fundraising collection. The organisation are raising money for veterans, who are especially isolated over the Christmas period. Dunelm shares surge on success Delicious coffees of new website from the brands you love JOE CURTIS October trading update that soured @joe_r_curtis the company’s share price, after it warned of lacklustre sales and said a DUNELM shares rocketed 20 per cent weak pound could hurt margins. yesterday after it predicted higher “A lot can happen in two months in full-year profit thanks in part to a the world of retail and in Dunelm’s good customer response to a crucial case the winds have changed in its website upgrade. favour,” AJ Bell investment director The furnishings retailer said it Russ Mould said. maintained strong sales growth He said customers’ warm response online and in stores during a “criti- to Dunelm’s new website was crucial cal” transition to a new website plat- to yesterday’s update. form that it hopes will improve its “That’s going to be a huge relief to retail proposition. the company as there is always a fear Gross margins were also stronger that new IT projects won’t work prop- than expected thanks to “better erly on initial deployment,” he said of sell-through” and sourcing gains, the news. while operational costs are in line with expectations. DUNELM “In light of the above, the board now P anticipates that the full year profit 1,000 before tax will be higher than our 950 previous expectations, assuming no 995 significant change in consumer 900 5 Dec demand as a result of the outcome of the General Election,” Dunelm said in 850 yesterday’s trading update. 800 Dunelm’s share price closed yester- day up 19.6 per cent, reaching 996p. It marks a sharp contrast to an 28 Nov2 Dec 3 Dec 4 Dec 5 Dec Crime on public transport in city soars, says Transport for London STEFAN BOSCIA in 2018. The vast majority of these @Stefan_Boscia incidents occurred on the Tube and Explore Kenco, Costa, L’OR and Cadbury! Tassimo Happy on London’s buses, with 4,916 and CRIME on London’s public transport 4,360 reported crimes respectively on Over 70 coffee-shop quality drinks from Currys rating network has surged 30 per cent in the these modes of transport. past year. TfL said: “We know that our public more than 10 of your favourite brands. Transport for London (TfL) transport networks are being yesterday released statistics for the targeted by prolific thieves working first quarter of 2019/20, revealing the as part of organised criminal increase in crime on its services was networks.” TfL put the surge in crime Find out more today at www.tassimo.com three times as large as the increase down to a sharp rise in theft, which for the capital as a whole. increased 71 per cent in the 12 Over 70 drinks and 10 brands available on Tassimo UK E-Shop 15.10.2019 This equated to 10,171 reported months to June. There were 817 Currys rating: Tassimo Happy Red 9 out of 10 from 211 reviews as of 15.10.2019 offences between April and June, violent crimes reported over the compared to 7,721 in the same period period — equivalent to nine a day.

16 NEWS FRIDAY 6 DECEMBER 2019 CITYAM.COM Election 2019: What do energy firms want?

Edward industries in the UK. One crucial area of development is Thicknesse talks that of Carbon Capture, Use and Stor- age (CCUS) technologies, a point climate change stressed by Oil and Gas UK in a new report on the energy transition, which policy with the found that with the right investment the UK could be a world leader in the experts on energy technology. However the report also found that to meet its targets, cash in the UK sector would need to double. HE CLEAREST indication that There is also a crucial human energy and climate policy has element to be considered. Last month, become a big-ticket political the Guardian reported that pressure Tissue came in last week’s first- from the unions representing workers ever climate leadership de- from these sectors was what led bate on Channel 4, which created a Labour to soften its much-touted furore after Prime Minister Boris John- pledge to achieve net zero. son and Brexit Party leader Nigel Renewable Energy Association (REA) Farage declined to attend and were chief executive Nina Skorupska says its replaced with blocks of melting ice. own manifesto, which among other Away from colourful stunts, it’s clear things proposes a government body co- the result of the election could have a ordinate decarbonisation activities long-term effect on the UK’s energy in- across the UK economy, is the “mini- dustry. Unsurprisingly, nationalisation mum” that is needed if the UK is to has been one of the biggest talking have any chance of reaching its goal. points after Labour announced it cant investment by private markets boss Alistair Phillips-Davies warned the vehicle charging infrastructure. “If our manifesto calls are enacted, would bring much of the sector back and a sustainable retail sector that can move would risk the UK’s status as a In addition, in order to meet the UK’s the next government will lead the way into public ownership. continue to innovate and deliver the world leader in the sector. net zero target, the new government to a decarbonised economy, built on re- Audrey Gallacher, director of policy benefits for customers,” she says. Other issues, however, inspire far will have to bring forward the phase newables and clean technologies.” at trade body Energy UK, says that the “Now is the time to radically acceler- broader consensus. Both major parties out date for combustion engine vehi- The size of the challenge facing the move risked slowing down the ate progress in decarbonising our have pledged to improve energy effi- cles from 2040 to 2035 at the latest. next government is not lost on indus- sector’s progress towards net zero on economy, not do anything that could ciency in homes, schools, and busi- Labour’s manifesto says this will be try. Achieving the scale of change at carbon emissions. slow down the progress the sector is nesses — also a priority for Energy UK. done by 2030. the pace required needs nothing less “Meeting net zero is a huge opportu- making.” The body’s manifesto calls for all new An economic shift of the scale as than a large-scale transformation of nity which can deliver benefits for our Labour also said it would set up a properties to be equipped with a smart is required by the UK’s 2050 target the UK’s economy. economy, the environment and for state-run company to manage the UK’s meter, be ready for decarbonised heat- will also have lasting ramifications For Skorupska, “it’s do or die.” And customers, but it will require signifi- offshore wind market. In response, SSE ing options, and have access to electric for deep-rooted, fossil-fuel reliant the clock is ticking. CITYAM.COM FRIDAY 6 DECEMBER 2019 NEWS 17 ADVERTISEMENT FEATURE 2019 – a virtual Daily Mail group success story digital growth COMMENT Louis Harding Head of Residential Sales, London and offsets profit hit CLEA Board Member

JAMES WARRINGTON per cent, this was more than offset by o one could claim that the housing the boom for Mail Online, where rev- market has been easy in 2019 but @j_a_warrington N enue grew 14 per cent to £140m. has it all been doom and gloom? THE DAILY Mail’s parent company DMGT said it has moved into the The data suggests it has not. UK property yesterday hailed “good progress” in its “next phase” of its transformation prices remain subdued, according to the transformation strategy, despite re- strategy, as it seeks to slim down its Strutt & Parker Q3 residential report, porting a sharp fall in pre-tax profit sprawling media empire. Time Out said its Lisbon market is now Portugal’s most visited attraction marking a significant slowdown on the just days after it snapped up the i Chief executive Paul Zwillenberg same period last year (2.1%) but, looked at newspaper for £50m. said his firm will explore further nationally, house prices have remained Daily Mail and General Trust acquisitions, but did not comment on above their pre-crisis peak. (DMGT) posted a 21 per cent drop in a potential bid for the Telegraph ti- Time Out shares slip as it warns Against a backdrop of unprecedented pre-tax profit to £145m in the year to tles, which have been put up for sale uncertainty, house prices are still 16.9% the end of September, while revenue by the billionaire Barclay brothers. above their pre-crisis peak. Anyone who slipped one per cent to £1.41bn. over delays to market openings has tried to buy a new home this year will However, the media group said the DGMT know that the biggest challenge we have JAMES WARRINGTON all faced was stock availability. Best in fall in profit was largely caused by a P Time Out Markets have been a key series of disposals in the comparative 860 driver of growth for the media firm class properties are very much in demand period last year, including the sale of 842 @j_a_warrington amid a squeeze on digital advertising and there has been significant 840 5 Dec its stake in Zoopla. SHARES in Time Out dipped 1.6 per revenue across the wider sector. competition amongst those who are in a Shares in DMGT closed up 5.5 per 820 cent yesterday after the media group The group has opened five new position to buy. We have seen competitive cent at 842p, as investors welcomed a warned the delayed openings of its markets in the US and Canada this bidding, properties selling way above 19 per cent rise in underlying profit 800 new food markets will hit profit. year as it looks to replicate the asking price, as well as properties bought ‘unseen.’ The result of this has been a very before tax. 780 The firm said delays to its sites in success of its flagship Lisbon site, While revenue from circulation and Chicago and Montreal, combined and is set to open a venue in the busy November and there is no sign that print advertising from the Daily Mail with higher investment, will have a former Eurostar tunnels at Waterloo this is likely to slow down, although who and Mail on Sunday titles slipped four 28 Nov2 Dec 3 Dec 4 Dec 5 Dec “modest” impact on full-year profit. station in 2021. knows what will happen after 12th December. Looking towards the future of the property market, would you feel confident buying or putting in an offer for a new home after a virtual viewing alone? Not only have we had offers made on hot Boohoo co-founders ditch stakes worth nearly £143m properties before a ‘real’ viewing, we have also completed sales for the first time this JOE CURTIS Investors reacted to the sale by five per cent drop in shares. earlier this week. And it added that year through digital walkthroughs of quitting the stock, sending Boohoo has grown rapidly since its Burnley and Sheffield warehouses houses. To be clear, that is a complete, @joe_r_curtis Boohoo’s share price down it went public in 2014, buying performed strongly over the Black end-to-end purchase of a house without a BOOHOO’s co-founders have sold a to 279.4p, from 315.7p Pretty Little Thing and Friday weekend. single ‘real-world’ visit or viewing. One whopping £142.5m of shares in last Friday. Nasty Gal clothing brands In September, the listed company could argue this is in part a symptom of their company, it emerged yesterday, Between the pair in 2017 and targeting reported soaring sales and profit after low stock; people simply do not want to sending the online retailer’s shares they still own a 15.8 enjoying an “outstanding” trading miss out on a house if there are so few to down six per cent. per cent stake in The fashion retailer performance. choose from. Alternatively, it could be Co-founder and executive director Boohoo despite the sell posted record Black At the time, chief executive John much more significant than that and Carol Kane sold a third of her stake in off, which was Friday sales last week Lyttle said: “We enter the second half perhaps we are on the cusp of a seismic the fashion brand — 15m shares — managed by Zeus of the year well-placed and confident shift in the way we buy and sell property. for 285p each to slash her stake to Capital and Jefferies. younger people who that our platform will deliver further 2.7 per cent. It comes just days after primarily shop on their market share gains.” To find out more about Fellow co-founder and executive Boohoo told the market it mobile phones. The firm is now focusing on current market trends chairman Mahmud Kamani sold 35m had enjoyed a record Black The Manchester-based building its overseas presence as well or to read our recent shares at the same price to reduce his Friday performance in an company said it is “comfortably in as growing its range of products, with property reports, visit stake to 13.1 per cent. unscheduled trading update after a line with market expectations” international sales. struttandparker.com 18 NEWS FRIDAY 6 DECEMBER 2019 CITYAM.COM Japan approves a $122bn stimulus Pelosi pushes on package to combat global tensions HARRY ROBERTSON in impeachment The injection of stimulus comes just 0.2 per cent. Japan plans to spend @henrygrobertson amid growing calls for governments the money over 15 months on to loosen the purse-strings to repairing typhoon damage and JAPAN’s cabinet has approved a huge revitalise weak growth from upgrading its physical and digital $122bn (£92bn) stimulus package to organisations such as the infrastructure. combat stalling growth and insure International Monetary Fund (IMF). “Now is the time to adopt bold of the President against global trade tensions. Central bankers have also called for fiscal policy to overcome various The government expects the ¥13.2 backup, with ultra-loose monetary downside risks and secure future trillion (£9.2bn) package to push up policy increasingly unable to boost safety while the Bank of Japan is growth by 1.4 per cent by the end of inflation. Japan’s interest rate is patiently continuing powerful the 2021 fiscal year. Economists have currently minus 0.1 per cent, while monetary easing,” a government cautioned the effects could be lower. third-quarter economic growth was spokesperson said.

US speaker of the house Nancy Pelosi said the President “abused his power”

STEFAN BOSCIA “Our democracy is what is at stake,” @Stefan_Boscia Pelosi said. “The President leaves us no choice but to act, because he is US HOUSE Democrats will move for- trying to corrupt, once again, the ward in impeachment proceedings election for his own benefit.” against US President Donald Trump, The impeachment proceedings were according to House of Representatives brought forward by House Democrats speaker Nancy Pelosi. in relation to allegations that Trump Pelosi made an explosive statement was trying to pressure new Ukrainian yesterday, announcing that House President Volodymyr Zelensky to Democrats would move forward with investigate political opponents. articles of impeachment. At the centre of a phone call “Today I am asking our chairmen to between the pair was the business proceed with articles of impeach- interests of Hunter Biden — the son of ment,” she said. Democrat presidential hopeful Joe “The facts are uncontested... The Biden. The former vice president’s son President abused his power for his previously served on the board of own personal political benefit at Ukrainian natural gas producer the expense of our national security,” Burisma Holdings. she added. It is alleged that Trump threatened Pelosi and committee chairs had to withhold aid to Ukraine if Zelensky emphasised throughout proceedings did not dig up dirt on Hunter Biden. that they had not definitively decided The President took to Twitter to go ahead with impeachment shortly before Pelosi’s statement proceedings. yesterday. “They have no impeach- However, the speaker’s announce- ment case and are demeaning our ment yesterday may indicate that they country,” he said. “But nothing mat- now feel there is enough evidence to ters to them, they have gone crazy. pass impeachment articles through Therefore I say, if you are going to im- the House of Representatives. peach me, do it now, fast.” Huawei launches new legal case as it fights back against US ban

JAMES WARRINGTON The Chinese company yesterday @j_a_warrington said it had filed a petition with a New Orleans court in a bid to HUAWEI has launched a fresh legal overturn the decision. battle against US authorities after The FCC has argued that Huawei’s they branded the Chinese tech giant links to Beijing meant the firm could a national security threat and be used by Chinese authorities for blocked it from a government spying, and was therefore a threat to subsidy programme. national security. The US Federal Communications But speaking at a press conference Commission (FCC) last month at Huawei’s headquarters in voted unanimously to block rural Shenzhen, chief legal officer Song telecoms firms from using a $8.5bn Liuping said the US had provided no (£6.5bn) government fund to buy evidence to prove his company was a Huawei equipment. security risk. CITYAM.COM FRIDAY 6 DECEMBER 2019 MARKETS 19

CITYDASHBOARD YOUR ONE-STOP SHOP FOR BROKER VIEWS AND MARKET REPORTS LONDON REPORT BEST OF THE BROKERS NEW YORK To appear in Best of the Brokers, email your research to [email protected] REPORT FTSE trails as EU GLEESON P Wall St inches 820 806 810 5 Dec higher as tariff 800 exports dip and 790 deadline nears 780 ALL Street eked out slight Wgains yesterday as investors 28 Nov 2 Dec 3 Dec 4 Dec 5 Dec waited for concrete news on a hoped-for interim trade deal between Glencore sinks Construction firm Gleeson is on firm ground, according to Peel Hunt analysts. The the United States and China before a company recently released a “solid” five-month statement from their annual general new round of tariffs scheduled to kick meeting, with unchanged managment expectations. Analysts said they like the in on 15 December. firm’s defensive qualities and growth outlook. Demand remains strong within Tech stocks led all three major US ONDON’s FTSE 100 slid yester- launched an investigation into the Gleeson Homes, with net reservations up 10 per cent, while its Strategic Land stock averages marginally into the day due to a nine per cent diversified miner over suspicions of division is performing in line with expectations. Peel Hunt maintained the black following upbeat statements plunge in Glencore after news bribery. The fall wiped roughly £2bn company’s “hold” rating, with an unchanged target price of 800p. from US President Donald Trump and Lof a bribery investigation and off Glencore’s market cap, leaving it Treasury secretary Steven Mnuchin as dollar earners fell with ster- with a valuation of £30bn at the end that the US-China trade negotiations ling gaining on growing hopes that of the session. JOULES are “on track” and “going well.” the upcoming election will not result Among the best blue-chip perform- Market participants appeared to P 240 in a hung parliament. ers was Burberry after a report that 5 Dec shrug off the drama unfolding in Sterling rallied to a two-and-a-half French group Kering had expressed in- Washington as the US House of year peak against the euro and a terest in a potential takeover of Italy’s 235 220 Representatives prepared to seven-month high against the Moncler. The speculation comes draft articles of impeachment against dollar. A stronger pound hard on the heels of LVMH’s 230 the President. weighed on the overseas $16bn (£12.2bn) takeover of The Dow Jones Industrial Average earnings of multination- jeweller Tiffany and has 225 rose 28.01 points, or 0.1 per cent, to als such as HSBC and reinforced the appeal of 27,677.79, the S&P 500 gained 4.67 Unilever as well as 220 points, or 0.15 per cent, to 3,117.43 mining companies and Aston Martin shares rose and the Nasdaq Composite added oil majors. 18 per cent following 28 Nov 2 Dec 3 Dec 4 Dec 5 Dec 4.03 points, or 0.05 per cent, to The blue-chip FTSE rumours of a major bid 8,570.70. 100 index ended 0.7 per Black Friday sales gave Joules some much-needed welly after a tough first half. Nike gained 2.2 per cent following cent lower, lagging its the sector despite US Favoured by rural toffs and would-be rural toffs everywhere, Joules reported flat Goldman Sachs’ upgrade of the peers in Europe and on threats to slap tariffs on retail growth and a drop in group growth for the first half, but this climbed to rises of sportswear maker’s stock to “buy” Wall Street. The more do- French luxury products. 3.1 per cent and 1.3 per cent respectively after Black Friday sales were factored in. from “neutral”. mestically focused mid-cap Burberry was up 3.1 per cent Analysts noted that its group growth rate is lower than expected, but that sales have Kroger shares fell three per cent index, the FTSE 250 , added 0.2 per while European peers Moncler, LVMH begun to recover following an esepecially competitive September. Peel Hunt after the supermarket chain missed cent, led higher by a near 20 per cent and Kering also gained, with analysts rated the company as “buy”, with a target price of 400p. Wall Street earnings estimates, hurt surge in home furnishings retailer Moncler’s seven per cent jump by stiff competition from Walmart Dunelm after it raised its profit leading the pack. and Amazon. expectations. On the midcap index, luxury sports STAGECOACH Online craft retailer Etsy dipped 2.5 Aston Martin per cent on a downgrade to Lack of fresh updates on the US- car maker , which has P China trade front also brought some tanked 70 per cent since a 2018 debut, 140 “underweight” by Morgan Stanley. trader caution across the globe. surged 18.2 per cent after a report 5 Dec Secureworks jumped 29.4 per cent Among single stocks, Glencore tum- that the owner of Formula 1 team 135 131 — its best day ever, after the cyber bled to a three-year low after news Racing Point, Lawrence Stroll, was security firm posted a surprise third- that the Serious Fraud Office has preparing a bid for major stake. quarter profit. 130 Sage Therapeutics tumbled 59.7 per cent after its depression drug TOP RISERS FTSE failed in a late-stage study. 125 P Economic data showed a shrinking 1. NMC Health Up 6.98 per cent 7,500 trade deficit, a drop in jobless claims 2. Fresnillo Up 4.11 per cent 7,400 28 Nov 2 Dec 3 Dec 4 Dec 5 Dec and a rebound in factory orders, 3. Burberry Up 3.27 per cent suggesting a still-robust — if slowing 7,300 Stagecoach faces an uphill battle regardless of the election outcome, Liberum — US economy. TOP FALLERS 4 Dec analysts warned, with political risks on both sides. Labour policies indicate extensive Investors will now be looking to 7,200 7,188.50 intervention in bus services, while the Conservative manifesto suggests greater today’s employment report from the 1. Glencore Down 8.81 per cent 7,100 support for bus franchising and increased regulation. Analysts warned of a lack of US Labor Department, which is 2. DS Smith Down 7.15 per cent positive catalysts for Stagecoach, and cautioned that its strategic direction is expected to show non-farm 3. Evraz Down 4.79 per cent unclear. They downgraded the company from a “buy” to a “hold” rating, with a payrolls increased by 180,000 in 28 Nov29 Nov 2 Dec 3 Dec 4 Dec target price of 135p. November. CITY MOVES WHO’S SWITCHING JOBS

BRUNSWICK GROUP 2013. Prior to that, he served in senior positions in the market. He led the company through a period of Amanda Blanc has over 30 years of experience in Brunswick Group, the strategic French government and in the financial sector. Neal successful transformation and significant growth. Prior various insurance markets and has held several advisory firm focused on Wolin, chief executive officer at Brunswick said: “I am to that he was chief executive of Lastminute.com, the senior executive roles in the industry as a qualified critical issues, has announced absolutely delighted that Pascal has agreed to become pioneering online travel and leisure business. chartered insurer. Most recently, Amanda served that Pascal Lamy has been Brunswick’s chair of Europe. As an enormously Wesleyan Chair Nathan Moss welcomed Ian to as a member of the executive committee and as chief appointed chair of Europe. experienced and talented global leader, his deep Wesleyan’s board saying: “Ian brings with him a executive officer for Europe, the Middle East Pascal will provide overall knowledge and insights will be of enormous value to fantastic skill set and I’m confident he’ll make a real and Africa at Zurich Insurance Group. Before joining leadership to Brunswick’s our European business.” difference at Wesleyan as we put in place our strategy Zurich, she served as group chief executive at AXA UK European business and senior to grow and strengthen our business.” and in senior roles at Towergate Partnership, advice and counsel to WESLEYAN Groupama, Commercial Union and Ernst & Young. European and international Specialist financial services firm Wesleyan has ERS Commenting on her new role, Amanda said: “ERS has clients on issues such as trade, announced the appointment of Ian McCaig to its board Specialist motor insurer ERS has announced the built a market-leading reputation in underwriting international economics, politics and regulation. of directors. Ian has worked across a number of proposed appointment of Amanda Blanc as non- specialist motor insurance in the UK... I am delighted Pascal served two consecutive terms as the director sectors, most recently as chief executive of First Utility, executive director and chair-designate of ERSSML, the to join such an ambitious team with a clear passion general of the World Trade Organization from 2005 to one of the first challenger entrants to the UK energy managing agent of Syndicate 218 at Lloyd’s. for the business.”

To appear in CITYMOVES please email your career updates and pictures to [email protected] 20 MARKETS FRIDAY 6 DECEMBER 2019 CITYAM.COM

FTSE 100 FTSE 250 FTSE ALL SHARE DOW JONES NASDAQ S&P 500 /€ 1.1855 ÃÃ0.0033 €/$ 1.1103 0.0028 7 1 37.85 20707.33 3969.84 2 767 7.79 8570.70 3117.43 /$ 1.3163 Ã 0.0070 €/£ 0.8435 Ä 0.0024 50.65 41.85 21.08 28.01 4.03 4.67 £ /¥ 143.06 0.4900 €/¥ 120.67 0.0900 Ä Ã Ä ÃÃÃ ÃÃ Price Chg High Low Price Chg High Low Price Chg High Low Price Chg High Low Price Chg High Low Price Chg High Low Price Chg High Low Price Chg High Low GILTS ELECTRICITY Templeton Em Mkts .....776.0 -2.0 829.0 670.0 JD Sports Fashion ...... 782.4 4.4 807.0 318.5 LEISURE GOODS ...... 1355.0 15.0 1777.0 1213.0 ...... 1104.0 -4.0 1176.0 565.0 AIM 50 Vietnam Enterprise ...... 483.0 -1.0 509.0 421.5 Just Eat...... 774.0 7.4 812.0 540.4 RSA Ins Gp ...... 535.8 -1.0 597.0 496.6 Sophos ...... 556.6 -2.0 577.0 298.2 Tsy 4.750 20 ...... 101.02 -0.01 105.0 101.0 Contour Global...... 206.0 -1.0 222.5 159.1 Games Workshp ...... 5740.0 5.0 5845.0 2800.0 Abcam ...... 1344.0 -3.0 1500.0 1017.0 VinaCapital Vietna ...... 328.0 0.5 357.5 323.0 Kingfisher...... 207.1 3.0 266.2 185.9 OIL & GAS PRODUCERS SUPPORT SERVICES Tsy 8.000 21...... 111.07 -0.03 118.2 111.1 Drax Gp ...... 281.8 3.0 413.8 251.0 LIFE INSURANCE Advanced Medical ...... 264.0 0.0 354.5 225.0 Witan Invest ...... 215.0 0.0 225.5 189.6 Marks & Spencer ...... 193.2 2.1 303.2 163.9 Tsy 2.500 24 ...... 361.28 -0.81 377.9 360.6 SSE ...... 1315.0 14.5 1336.5 1008.0 BP ...... 465.4 -7.0 582.5 465.4 ...... 827.8 4.2 855.2 691.8 Wwide Healthcare ... 2960.0 5.0 3000.0 2325.0 Next ...... 6750.0 24.0 6920.0 3991.0 Aviva ...... 393.0 -2.4 438.8 352.3 Alliance Pharma ...... 77.0 0.1 80.4 60.0 Tsy 5.000 25 ...... 122.87 -0.16 126.0 122.9 ELECTRONIC & ELECTRICAL EQUIPMENT ...... 180.2 0.0 213.8 140.0 Ashtead Gp ...... 2329.0 11.0 2450.0 1586.5 Lancashire Hldgs ...... 713.0 -3.0 746.0 561.5 ASOS...... 2940.0 -169.0 4588.0 2107.0 Tsy 4.250 27 ...... 128.42 -0.31 132.8 125.2 FIXED LINE TELECOMMUNICATIONS Gp ...... 253.6 3.2 259.8 113.3 Halma ...... 2081.0 -10.0 2151.0 1282.0 Legal & General ...... 276.3 -0.9 291.2 216.7 Oil & Gas ...... 910.0 11.0 1082.0 568.0 Babcock Intl Grp...... 580.0 0.2 594.2 416.7 Sports Direct Intl ...... 343.6 2.4 343.6 214.0 Blue Prism ...... 1005.0 -7.0 1472.0 788.0 Tsy 6.000 28 ...... 146.52 -0.40 152.1 143.1 Morgan Advanced ...... 289.8 3.4 289.8 232.4 BT Gp ...... 190.7 4.4 252.5 158.9 Phoenix Gp ...... 739.0 -1.0 745.5 544.0 Premier Oil ...... 91.9 1.9 106.2 55.6 Bunzl ...... 2084.0 13.0 2551.0 1943.0 ...... 117.4 -1.4 139.5 111.4 Camellia ...... 9250.0 225.0 11750.0 8600.0 Tsy 4.125 30 ...... 377.49 -1.30 404.2 364.2 ..1550.0 10.0 1626.0 853.0 Talktalk Telecom ...... 104.9 -0.1 126.5 96.5 Prudential ...... 1303.0 -9.5 1790.0 1279.5 Royal Dutch Shell A....2144.5 -19.5 2612.0 2144.5 ...... 160.1 0.1 173.1 99.9 WH Smith...... 2388.0 -6.0 2458.0 1697.0 Caretech Holdings ...... 380.0 2.0 405.0 325.0 Tsy 4.250 32...... 139.34 -0.50 146.4 132.4 Renishaw ...... 3872.0 46.0 4670.0 3232.0 ...... 1334.0 -4.0 1528.0 1130.0 St James Place ...... 1068.5 1.5 1143.0 913.6 Royal Dutch Shell B ....2126.5 -18.0 2622.0 2126.5 DCC ...... 6422.0 -52.0 7496.0 5750.0 HEALTH CARE EQUIPMENT & SERVICES ...... 137.0 -0.8 250.0 130.9 Tsy 4.250 36 ...... 146.71 -0.59 155.7 137.5 ...... 2731.0 -2.0 2898.0 2188.0 FOOD & DRUG RETAILERS Std Life Aberdeen ...... 306.4 2.5 322.3 224.8 Diploma ...... 1886.0 56.0 1902.0 1150.0 Central Asia Metals .....207.5 2.0 266.5 180.0 Tsy 4.750 38...... 161.22 -0.67 171.8 150.0 EQUITY INVESTMENT INSTRUMENTS ...... 2054.0 8.0 2476.0 1257.0 Convatec ...... 193.0 -2.5 202.8 118.5 MEDIA OIL EQUIPMENT & SERVICES Electrocomp ...... 648.2 -5.2 729.8 480.0 Clinigen Group ...... 847.0 -5.0 1069.0 721.0 Tsy 4.250 46 ...... 167.60 -0.78 181.0 151.7 Morrison (WM) ...... 197.0 4.2 245.8 176.9 Mediclinic Intl ...... 386.1 -3.8 401.3 293.4 Hunting ...... 378.0 -1.4 657.0 377.0 Equiniti ...... 194.7 2.0 236.2 186.2 ...... 290.0 2.0 306.5 249.7 ...... 3100.0 -10.0 3130.0 1800.0 CVS Group ...... 1060.0 6.0 1105.0 395.0 AEROSPACE & DEFENCE Ocado Gp ...... 1221.0 -7.0 1435.0 749.8 NMC Health ...... 2595.0 160.0 3166.0 1801.5 Petrofac ...... 389.7 0.0 559.0 381.5 ...... 421.8 1.4 442.0 325.4 Aberforth Smlr Cos ..1398.0 2.0 1408.0 1114.0 ...... 330.0 6.6 411.0 319.0 Dart Group ...... 1522.0 0.0 1522.0 709.5 Sainsbury(J) ...... 216.0 2.6 300.0 177.1 Smith & Neph...... 1672.0 11.0 1990.0 1396.0 Wood Gp(J) ...... 322.3 -1.0 644.2 319.6 Experian ...... 2451.0 -6.0 2631.0 1843.0 BAE Systems ...... 551.0 -1.6 588.2 443.9 ...... 800.0 -5.0 838.0 672.0 Auto Trader Gp ...... 555.6 -2.0 606.0 425.4 Diversified Gas & Oil ...... 99.4 0.2 116.5 97.0 SSP Group ...... 660.0 7.0 721.0 608.0 UDG Hlthcare ...... 800.5 1.5 832.5 551.0 PERSONAL GOODS Ferguson ...... 6612.0 -24.0 7004.0 4800.0 Cobham ...... 158.5 0.4 168.3 96.8 AVI Global Trust...... 753.0 -11.0 781.0 660.0 Entertainment One ...... 556.5 0.0 589.0 336.4 Draper Esprit ...... 483.0 -3.0 548.0 410.0 Tesco ...... 227.0 0.9 253.0 189.6 HOUSEHOLD GOODS G4S ...... 206.1 -0.6 234.3 168.3 ...... 639.6 -0.6 660.0 458.0 Baillie Gifford Japan ...829.0 -5.0 840.0 663.0 Euromny Inst Inv...... 1220.0 4.0 1498.0 1132.0 Burberry Gp...... 2050.0 62.0 2345.0 1623.5 FOOD PRODUCERS Hays ...... 166.8 0.2 169.1 135.7 Eland Oil & Gas ...... 163.8 0.0 165.4 101.0 QinetiQ ...... 336.4 2.2 351.6 267.0 Bankers InvTst ...... 944.0 0.0 970.0 766.0 Barratt Devel ...... 661.4 -3.6 684.4 434.0 Future ...... 1360.0 -10.0 1572.0 465.0 PZ Cussons ...... 201.0 0.5 227.0 178.6 ...... 1212.0 10.0 1266.0 849.0 EMIS Group ...... 1078.0 -2.0 1242.0 864.0 Rolls-Royce ...... 703.0 1.2 988.4 692.2 BlackRock Smaller ....1560.0 8.0 1592.0 1160.0 Assoc British Foods....2497.0 -8.0 2588.0 2041.0 ...... 3366.0 -5.0 3536.0 2419.0 Informa ...... 767.6 3.2 892.0 605.8 PHARMACEUTICALS & BIOTECHNOLOGY Intertek Gp ...... 5428.0 -6.0 5962.0 4557.0 Fevertree Drinks ...... 2206.0 49.0 2475.0 1732.5 Senior ...... 177.7 -1.8 239.2 174.0 BMO Global Smaller .....138.0 -0.4 143.1 122.0 Bakkavor ...... 137.6 4.2 170.0 93.3 Berkeley Grp Hldgs ...4549.0 -63.0 4712.0 3230.0 ITV ...... 143.3 2.2 145.1 103.6 AstraZeneca ...... 7229.0 -84.0 7580.0 5325.0 IWG...... 402.2 0.2 421.9 199.8 ...... 2008.0 -4.0 2252.0 1232.0 Caledonia Inv ...... 3080.0 10.0 3110.0 2740.0 Cranswick ...... 3100.0 18.0 3408.0 2472.0 Bovis Homes Gp ...... 1226.0 3.0 1242.0 828.0 First Derivatives ...... 2595.0 80.0 3555.0 2050.0 Moneysupermkt.com ...325.0 1.7 417.7 267.0 Dechra Pharma ...... 2786.0 36.0 3036.0 2022.0 Network Int...... 573.0 4.0 628.0 513.0 AUTOMOBILES & PARTS City of London IT ...... 415.0 -1.0 431.5 376.0 Gp ...... 244.6 3.4 248.3 162.8 Frontier Devs ...... 1210.0 24.0 1254.0 740.0 Countryside Prop ...... 424.0 8.4 424.0 276.8 Pearson ...... 635.0 7.0 1027.5 628.0 Genus ...... 3140.0 36.0 3206.0 2146.0 Pagegroup ...... 483.2 -1.4 539.0 367.8 Edin Inv Trust ...... 601.0 1.0 652.0 535.0 Hilton Food Gp ...... 995.0 6.0 1088.0 884.0 Gamma Comms ...... 1235.0 -10.0 1275.0 730.0 Aston Martin...... 594.6 91.6 1374.4 399.3 ...... 391.4 2.8 435.2 309.4 RELX ...... 1803.5 -12.5 2011.0 1581.5 GlaxoSmithKline ...... 1706.8 -1.2 1782.0 1436.0 Paypoint...... 987.0 -13.0 1118.0 748.0 European Opp ...... 811.0 -6.0 875.0 666.0 Tate & Lyle ...... 735.0 0.0 800.4 658.4 TI Fluid Systems ...... 229.0 -4.0 236.0 155.2 Hikma Pharma ...... 1889.5 -0.5 2200.0 1510.5 Rentokil Initial ...... 438.5 3.9 467.8 316.1 GB Group ...... 717.0 19.0 717.0 410.5 F&C Investment ...... 723.0 -1.0 745.0 616.0 Unilever ...... 4475.0 -45.5 5324.0 3941.0 BANKS MAIN CHANGES UK 350 REAL ESTATE ...... 640.0 10.0 752.0 450.0 Gooch & Housego ...... 1260.0 0.0 1527.5 954.0 Fidelity China SPE ...... 211.0 0.5 250.0 183.4 FORESTRY & PAPER ...... 148.0 1.2 160.0 84.1 Hurricane Energy ...... 33.1 -1.9 53.6 33.1 Barclays ...... 167.2 0.0 174.4 136.2 Fidelity Euro Values ....250.0 0.5 257.5 202.0 Risers % Fallers % Assura ...... 77.0 0.1 77.0 52.5 Mondi ...... 1620.5 -22.5 1898.0 1510.5 Ã Ä SIG ...... 119.8 -0.3 153.0 99.3 BGEO Group ...... 1524.0 25.0 1755.0 1252.0 Fidelity Spec Val ...... 261.5 -5.5 271.5 220.0 Dunelm Gp ...... 995.00 19.6 Glencore ...... 216.90 -9.0 Big Yellow Gp ...... 1137.0 -9.0 1192.0 858.5 Impax Asset Mgmt .....299.0 1.0 299.0 184.0 GENERAL FINANCIAL ...... 1530.5 9.5 1614.5 1012.0 HSBC Hldgs...... 552.3 -6.5 680.6 552.3 Finsbury G&I Tst ...... 871.0 1.0 958.0 741.0 Aston Martin ...... 594.60 18.2 Smith (DS)...... 351.80 -7.2 BMO Comm Prop ...... 115.2 -2.0 135.4 106.0 Iomart Group ...... 356.0 -1.5 398.0 308.0 TECHNOLOGY HARDWARE & EQUIPMENT Lloyds Banking ...... 60.5 -0.1 66.6 48.6 GCP Infra Inv ...... 132.2 0.8 132.2 122.4 3i Group ...... 1053.0 -9.5 1184.5 756.2 NMC Health ...... 2595.00 6.6 ...... 119.35 -6.6 ...... 596.2 10.6 638.4 468.3 IQE...... 49.2 -0.8 98.0 41.8 Workspace Gp...... 1131.00 4.0 Evraz ...... 341.40 -4.4 Royal Bank of Scot ...... 225.1 2.6 270.4 177.7 Genesis Emerging ...... 746.0 2.0 785.0 628.0 Ashmore Gp ...... 477.8 -1.8 542.5 356.0 Captl & Count Prop ...... 255.9 4.7 270.5 184.8 Comms ...... 215.5 -0.5 219.0 112.8 James Halstead ...... 504.0 -10.0 532.0 410.0 ...... 792.20 3.3 Puretech ...... 252.00 -4.2 Standard Chartered .....671.6 -7.4 736.8 575.7 Greencoat UK ...... 148.8 1.0 148.8 124.4 ...... 340.2 7.2 350.2 287.6 CLS Hldgs ...... 294.0 1.0 294.0 204.0 TOBACCO Fresnillo ...... 563.20 3.3 TUI AG ...... 969.80 -4.1 Johnson Service Gp .....183.0 0.8 183.2 114.0 TBC Bank Group...... 1260.0 -8.0 1706.0 1150.0 Harbourvest Glb ...... 1728.0 8.0 1786.0 1326.0 Close Brothers ...... 1494.0 8.0 1605.0 1227.0 Daejan Hldgs ...... 5230.0 40.0 6160.0 4715.0 Bakkavor ...... 137.60 3.1 IG Gp ...... 664.40 -3.6 Br Am Tob ...... 2955.5 -19.5 3197.5 2375.0 Keywords Studios .....1354.0 19.0 1838.0 900.0 Virgin Money UK ...... 166.3 -6.0 220.1 104.4 Herald Inv Trust ...... 1418.0 14.0 1418.0 1055.0 ...... 71.2 -0.9 91.3 68.1 ...... 3714.0 64.0 3744.0 2779.0 Burberry Gp ...... 2050.00 3.1 Virgin Money UK ...... 166.30 -3.5 Imperial Brands ...... 1688.8 -18.2 2713.5 1669.4 Learning Tech Gp ...... 110.0 -0.6 130.0 62.2 BEVERAGES HICL Infr ...... 159.0 -1.6 174.0 156.6 Finablr ...... 209.4 -0.6 210.0 140.2 Grainger ...... 281.0 3.0 292.2 205.8 Go-Ahead Gp ...... 2062.00 3.1 Smurfit Kappa Gp ...... 2606.00 -3.5 TRAVEL & LEISURE JPM American ...... 463.0 -0.5 494.5 386.5 Hargreaves Lans...... 1815.5 7.0 2433.0 1633.0 Grt Portland Est ...... 835.2 6.8 835.2 649.4 M&C Saatchi ...... 90.0 11.0 394.0 79.0 Barr (AG) ...... 552.0 -17.0 975.0 540.0 Diploma ...... 1886.00 3.1 Royal Mail...... 213.70 -3.1 JPM Emerg Mkt ...... 983.0 0.0 1066.0 814.0 IG Gp...... 664.4 -24.8 695.4 474.8 ...... 298.9 3.3 388.4 203.9 Carnival ...... 3153.0 24.0 4430.0 3056.0 M.P. Evans ...... 678.0 -5.0 703.0 612.0 ...... 937.0 -25.5 1068.0 786.0 JPM Indian IT ...... 724.0 -1.0 790.0 633.0 Integrafin Holdings ...... 401.0 1.0 406.1 271.8 McCarthy & Stone...... 141.5 2.7 158.8 123.5 Group ...... 620.4 0.2 630.6 420.9 Land Securities...... 940.4 5.6 964.2 735.4 Group ...... 214.2 4.6 321.0 191.0 Coca-Cola HBC AG .....2493.0 -7.0 3074.0 2299.0 Majestic Wine ...... 215.0 0.5 318.0 214.5 JPM Japan IT ...... 473.0 -3.0 476.0 367.0 Intermediate Cap ...... 1550.0 -3.0 1564.0 918.5 Persimmon ...... 2515.0 -18.0 2614.0 1836.0 WPP ...... 950.0 -10.0 1038.0 800.4 LondonMetric Prop ...... 231.6 -0.4 241.2 172.7 Compass Gp ...... 1821.5 -22.0 2138.0 1583.0 Diageo ...... 3059.0 -24.5 3625.5 2701.0 Midwich Group ...... 597.0 4.0 633.0 474.5 Jupiter Fund Mngt ...... 369.9 3.0 432.0 287.6 Intl Public Prtnshps ...... 157.0 -0.8 165.4 146.8 Reckitt Benckiser ..... 5898.0 -30.0 6688.0 5593.0 MINING NewRiver Retail ...... 194.2 3.4 246.0 147.6 Dominos Pizza ...... 303.7 5.6 309.8 221.2 Mortgage Advice B .....700.0 -6.0 706.0 546.0 CHEMICALS ...... 428.1 -10.9 518.6 395.3 Redrow...... 671.0 1.0 676.0 460.8 Primary Hlth Prop ...... 148.0 0.0 149.0 108.2 ...... 602.0 -4.0 618.0 534.0 Anglo American ...... 2019.0 -29.5 2266.0 1575.0 easyJet ...... 1360.0 -13.5 1373.5 854.8 IP Group ...... 60.0 0.2 122.0 55.7 ...... 174.0 -1.0 192.2 129.3 Hldgs ...... 750.5 6.5 756.0 506.5 Next Fifteen Comm ...... 476.0 6.0 658.0 465.0 Croda International .4900.0 26.0 5375.0 4564.0 Mercantile IT ...... 239.5 1.5 241.5 168.0 Antofagasta ...... 868.0 1.4 1022.5 738.0 EI Group ...... 282.0 0.4 285.0 171.4 John Laing Gp ...... 397.4 1.4 402.0 298.2 ...... 1006.0 15.5 1009.0 678.5 Nichols...... 1580.0 20.0 1880.0 1350.0 ...... 168.1 2.2 197.9 129.8 Monks Inv Tst ...... 921.0 1.0 964.0 710.0 INDUSTRIAL ENGINEERING BHP Group ...... 1661.6 -27.4 2049.0 1529.6 FirstGroup ...... 116.6 0.4 137.5 79.3 London Stock Exch ....6740.0 -54.0 7514.0 3867.0 ...... 863.0 2.6 894.0 585.2 Johnson Matt...... 2787.0 -41.0 3454.0 2620.0 Murray Intl Tst ...... 1192.0 2.0 1248.0 1068.0 ...... 860.0 -8.0 903.0 652.0 Centamin ...... 119.3 -8.4 152.3 79.8 Flutter Ent...... 8664.0 -2.0 8924.0 5525.0 Numis Corporation ...... 253.0 5.5 280.0 212.0 ...... 149.9 -1.4 175.2 126.8 Shaftesbury ...... 935.0 25.0 979.5 739.5 ...... 299.6 3.4 420.8 279.0 NB Glbl Fltg Rate Inc .....90.6 -0.1 91.0 87.6 Hill & Smith ...... 1351.0 21.0 1385.0 1049.0 Fresnillo ...... 563.2 17.8 1027.5 539.6 Go-Ahead Gp ...... 2062.0 62.0 2278.0 1480.0 Polar Capital Hdgs ...... 518.0 -4.0 604.0 450.0 Onesavings ...... 395.4 5.2 447.4 313.6 St Modwen Props ...... 452.5 4.0 472.0 373.0 ...... 2326.0 -14.0 2522.0 1845.0 Pantheon Intl Partn ..2385.0 45.0 2385.0 1955.0 IMI ...... 1136.5 7.5 1137.0 870.0 Glencore ...... 216.9 -21.4 340.3 216.9 GVC Hldgs ...... 855.8 3.2 897.4 507.5 Gp ...... 105.0 0.0 132.0 96.0 Paragon...... 490.8 10.4 518.0 379.2 TR Property IT ...... 455.0 -3.5 466.0 353.5 CONSTRUCTION & MATERIALS Perpetual Inc & Grth ...313.0 -1.0 339.0 284.5 Melrose Ind ...... 227.4 0.4 237.9 146.3 ...... 161.1 -3.3 227.0 155.0 Intercontl Htls ...... 4756.5 6.5 5738.0 4230.4 Plus500 ...... 792.2 25.6 1647.0 495.0 Tritax Big Box ...... 146.2 1.6 159.7 130.0 Redde...... 105.0 -0.2 127.6 100.6 Pershing Square ...... 1390.0 4.0 1570.0 990.0 RHI Magnesita ...... 3842.0 8.0 5000.0 3352.0 Kaz Minerals ...... 474.8 4.5 738.4 380.3 Intl Cons Airl...... 548.6 -3.6 667.6 413.5 ...... 224.8 2.6 295.0 194.2 Provident Fin ...... 421.8 -2.9 658.6 356.0 UK Commercial Prop ..... 85.1 -1.7 92.7 79.9 Renew Holdings...... 441.0 31.0 441.0 333.0 Personal Assets Tst ....41950 0.0 43150 38900 ...... 328.5 0.5 341.2 235.7 Polymet Int...... 1194.0 3.0 1272.0 772.6 Marstons ...... 129.1 -1.5 131.4 90.5 CRH ...... 2912.0 -6.0 3014.0 1971.5 RWS Holdings ...... 665.0 14.0 665.0 450.0 Polar Cap Tech Tst ...... 1474.0 0.0 1514.0 1066.0 Quilter ...... 150.7 -0.1 156.6 112.2 Unite Group ...... 1186.0 -8.0 1251.0 797.5 Mitchells & Butlers ...... 438.5 -1.5 470.5 238.0 Galliford Try...... 740.0 2.0 780.0 512.0 Spirax-Sarco...... 8800.0 -45.0 9400.0 5900.0 Rio Tinto ...... 4129.5 -50.0 4976.5 3527.0 Renewables Infra Gp ...129.6 0.8 133.2 109.6 .....2115.0 -5.0 2540.0 2075.0 Workspace Gp ...... 1131.0 43.0 1131.0 789.5 ...... 452.6 -7.2 473.0 361.4 Scapa Group ...... 246.0 -1.5 403.0 157.0 ...... 825.5 -10.5 937.0 630.0 Weir Gp ...... 1394.0 5.0 1814.0 1240.0 Sirius Minerals...... 3.5 -0.1 24.3 2.9 RIT Cap Partners ...... 2135.0 0.0 2180.0 1892.0 Schroders ...... 3188.0 -13.0 3349.0 2334.0 SOFTWARE & COMPUTER SERVICES PPHE Hotel Gp ...... 1900.0 0.0 1990.0 1620.0 Secure Income REIT ...415.0 -3.0 454.0 371.0 Ibstock ...... 263.2 -1.4 267.6 193.1 TP ICAP ...... 400.3 10.2 400.3 270.0 INDUSTRIAL METALS MOBILE TELECOMMUNICATIONS Riverstone Energy ...... 403.5 -4.5 1170.0 403.5 Avast...... 433.4 3.8 450.8 259.6 Rank Gp ...... 251.0 0.5 252.5 135.0 Serica Energy...... 122.2 -0.6 143.4 103.6 Marshalls ...... 775.5 7.5 804.0 415.2 Evraz ...... 341.4 -15.8 709.4 341.4 Inmarsat...... 543.0 -1.4 608.2 362.8 Schroder Asia ...... 443.0 1.0 469.5 389.0 GENERAL RETAILERS Aveva Gp...... 4508.0 -22.0 4558.0 2284.0 Restaurant Grp ...... 140.0 0.0 160.2 111.9 Polypipe Group ...... 514.5 8.5 514.5 312.8 ...... 139.8 -2.9 301.3 123.0 Vodafone Gp ...... 144.3 -1.8 165.2 123.3 Smart Metering Sys.....521.0 0.0 665.0 310.0 Scottish Inv Tst ...... 807.0 1.0 843.0 748.0 B&M ...... 383.3 2.4 399.6 278.6 ...... 1510.0 5.0 1525.0 952.0 Stagecoach Gp...... 131.0 -3.0 170.9 115.5 DIVERSIFIED INDUSTRIALS ...... 349.5 0.0 358.0 267.0 Scottish Mortgage ...... 514.0 -4.5 568.5 441.4 Card Factory ...... 157.5 0.6 209.0 151.2 INDUSTRIAL TRANSPORTATION NONLIFE INSURANCE FDM Group...... 926.0 1.0 994.0 647.0 TUI AG ...... 969.8 -41.7 1213.5 698.0 Thorpe (F.W.) ...... 311.0 0.0 340.0 248.5 Smith (DS) ...... 351.8 -27.1 388.1 292.2 Sequoia Econ Infra ...... 115.6 -0.2 117.6 108.5 ...... 125.5 1.0 156.8 104.9 Clarkson ...... 2695.0 5.0 2900.0 1878.0 Admiral Gp ...... 2096.0 11.0 2300.0 1958.0 Gp ...... 620.0 -2.0 676.0 430.0 Wetherspoon (JD) ...... 1514.0 -8.0 1624.0 1066.0 Smiths Gp...... 1596.0 -2.5 1692.0 1340.0 Smithson Inv ...... 1270.0 0.0 1304.0 1000.2 Dunelm Gp...... 995.0 163.0 995.0 482.8 Fisher (James) ...... 1992.0 56.0 2260.0 1650.0 Beazley ...... 530.5 -1.5 628.0 492.6 Intl ...... 1089.2 5.4 2160.0 1004.0 Whitbread ...... 4507.0 -3.0 5114.0 3988.0 Watkin Jones ...... 233.5 4.5 241.5 192.2 Smurfit Kappa Gp..... 2606.0 -94.0 2774.0 1934.0 ...... 220.5 -1.5 294.0 213.5 Howden Joinery Gp...... 634.2 5.6 636.4 416.4 Royal Mail ...... 213.7 -6.8 310.8 188.4 Direct Line Ins ...... 298.3 0.0 366.5 270.5 ...... 381.0 5.9 457.7 360.5 William Hill ...... 170.0 1.0 205.2 132.3 Young’s Brew NV ...... 1195.0 0.0 1238.0 1030.0 Vesuvius...... 456.4 1.6 642.0 341.0 Temple Bar IT ...... 1338.0 -12.0 1376.0 1116.0 Inchcape...... 665.0 15.0 678.0 519.5 Signature Avi ...... 324.9 0.0 406.0 258.8 Hastings Gp Hldgs ...... 174.0 -0.9 231.6 167.9 Sage Group ...... 716.8 -5.4 820.4 567.0 Holdings ...... 3910.0 -25.0 3950.0 2722.0 Young’s Brew-A...... 1605.0 -10.0 1885.0 1322.5 EU SHARES US SHARES Price Chg High Low Price Chg High Low ADIDAS...... 276.10 -1.75 296.35 180.10 3M ...... 164.37 -2.77 219.50 150.74 AIR LIQUIDE ...... 121.35 0.55 130.80 102.40 ABBOTT LABORATORIES ...... 85.24 0.06 88.74 65.56 ALLIANZ AG ...... 214.20 -1.80 223.80 172.16 ADOBE INC ...... 303.03 0.52 311.27 205.16 AMADEUS IT GROUP ...... 72.16 -0.14 72.30 42.30 ALPHABET NON VTG-C ...... 1328.13 7.59 1334.87 976.22 ANHEUSER BUSCH INBEV ...... 70.57 -0.87 92.71 57.35 ALPHABET-A ...... 1326.96 8.02 1333.54 1116.79 AMAZON.COM ...... 1740.48 -20.21 2020.99 1343.96 ASML HOLDING NV ...... 244.35 1.60 249.00 130.88 AMERICAN EXPRESS ...... 118.28 0.34 128.57 89.50 AXA ...... 24.64 0.10 25.38 18.54 APPLE INC ...... 265.58 3.84 267.84 142.19 BANCO SANTANDER ...... 299.07 0.28 402.00 295.05 AT&T ...... 38.19 0.09 39.63 27.36 BASF...... 67.87 -0.48 74.49 56.20 BANK OF AMERICA ...... 33.09 -0.06 33.47 22.73 BAYER AG...... 68.98 -0.34 72.81 52.53 BERKSHIRE HATHAWAY...... 219.60 1.20 222.74 187.76 BBVA ...... 4.74 0.01 9.56 4.19 BOEING CO ...... 345.68 -3.16 432.69 294.16 BMW ...... 72.81 0.05 77.75 58.70 CATERPILLAR INC ...... 141.05 0.93 148.16 113.38 BNP PARIBAS ...... 50.26 -0.03 51.55 38.55 CHEVRON ...... 116.33 -0.61 126.54 100.99 CRH ...... 2912.00 -6.00 3014.00 1971.50 CISCO SYSTEMS ...... 43.52 -0.37 58.05 40.28 DAIMLER ...... 49.26 -0.34 59.31 40.53 CITIGROUP ...... 74.71 0.48 76.12 49.26 DANONE ...... 73.28 0.08 82.00 60.28 COCA-COLA CO ...... 54.19 -0.10 55.77 44.69 DEUTSCHE POST AG ...... 33.65 -0.14 34.44 23.72 COMCAST ...... 44.04 0.53 46.97 33.07 DOW ...... 52.00 -0.28 66.65 40.71 DEUTSCHE TELEKOM ...... 15.01 -0.02 16.25 14.10 EBAY INC ...... 34.79 -0.18 41.57 26.14 ENEL ...... 6.72 -0.01 6.98 4.74 EXXON MOBIL ...... 68.41 -0.24 83.38 65.51 ENGIE...... 14.49 0.10 15.12 11.99 FACEBOOK ...... 199.36 0.65 204.87 174.60 ENI ...... 13.64 -0.01 15.94 13.04 GOLDMAN SACHS GROUP ...... 217.14 1.20 223.29 156.35 ESSILORLUXOTTICA ...... 128.75 0.00 128.75 128.75 HOME DEPOT INC ...... 213.00 -1.10 238.85 158.14 FRESENIUS MEDICAL CARE ...... 65.76 -0.36 76.32 56.64 HONEYWELL INTERNATIONAL ...... 174.01 0.80 182.01 124.83 IBERDROLA ...... 8.66 -0.01 9.54 6.02 IBM ...... 131.91 -0.08 151.36 107.57 INDITEX ...... 28.04 0.00 32.37 2.55 INTEL ...... 56.08 0.06 58.90 43.46 ING GROEP NV...... 10.32 0.00 12.05 8.34 JOHNSON & JOHNSON ...... 139.56 0.18 147.84 122.84 INTESA SANPAOLO...... 2.29 0.00 2.38 1.83 JPMORGAN CHASE & CO ...... 133.06 0.72 132.34 92.14 KERING ...... 540.00 1.90 551.90 380.70 MASTERCARD INC ...... 289.85 3.01 292.23 174.65 MCDONALD’S ...... 194.21 -0.10 221.15 170.28 KON KPN NV ...... 2.74 0.01 2.96 2.47 MEDTRONIC ...... 112.20 0.26 112.47 82.45 L’OREAL ...... 251.20 -1.90 265.00 195.25 MERCK & CO ...... 88.75 0.08 88.67 71.15 LVMH MOET HENNESSY ...... 396.20 0.20 408.65 243.25 COMMODITIES TOURIST RATES MICROSOFT ...... 149.93 0.08 152.32 94.13 MUENCHENER RUECKVE ...... 257.50 -1.40 260.60 185.10 NETFLIX ...... 302.86 -1.46 385.03 233.88 NOKIA ...... 21.88 0.00 21.88 21.88 Gold ...... 1476.20 -0.20 Copper Cash Official...... 5822.50 +11.00 Canada ...... 1.6484 New Zealand ...... 1.8707 NIKE INC ...... 95.79 2.07 96.22 67.53 ORANGE ...... 13.56 -0.14 15.01 13.15 Silver (Pence) ...... 1713.00 +12.00 Aluminium Cash Official ...... 1770.75 -31.00 Croatia ...... 7.966 Norway...... 11.46 ORACLE ...... 54.68 0.27 60.15 42.69 ROYAL PHILIPS ...... 41.80 0.10 44.34 29.10 Silver (Cents) ...... 1312.00 +3.00 Nickel Cash Official ...... 13245.00 -712.50 Czech Republic ...... 27.81 Poland ...... 4.4575 PAYPAL HOLDINGS ...... 104.59 -0.41 121.30 96.64 SAFRAN ...... 146.15 1.00 149.90 100.70 Krugerrand ...... 1489.67 -4.32 Aluminium Alloy Cash Official ...... 1315.00 -10.00 Denmark ...... 8.4234 Singapore ...... 1.6669 PEPSICO ...... 136.34 -0.96 140.28 118.61 SANOFI ...... 83.13 -0.76 85.25 72.24 Brent Crude ...... 63.00 +2.18 Natural Gas ...... 41.03 -0.14 Hong Kong ...... 9.7559 Sweden ...... 11.92 PFIZER INC ...... 38.03 -0.11 44.57 34.24 SAP SE ...... 121.24 -0.84 124.38 85.79 Platinum ...... 908.00 +9.00 Tin Cash Official ...... 16837.50 +90.00 Iceland ...... 141.19 Switzerland ...... 1.2371 PROCTER & GAMBLE ...... 124.62 0.09 124.94 87.36 SCHNEIDER ELECTRIC ...... 88.70 0.58 88.44 57.58 British Sovereign ...... 348.09 -0.99 Zinc Cash Official ...... 2256.00 +35.00 India ...... 82.76 Turkey ...... 7.1794 TRAVELERS COMPANIES ...... 134.31 -0.86 154.83 112.63 SIEMENS AG ...... 116.14 -1.80 117.94 85.00 Lead Cash Official ...... 1899.50 +16.25 White Sugar ...... 346.60 +2.00 Israel ...... 4.1102 United States ...... 1.2538 TWITTER ...... 30.04 0.04 45.42 28.89 UNITED HEALTH GROUP ...... 282.00 2.68 282.67 215.26 SOCIETE GENERALE...... 29.09 0.24 30.48 21.13 UNITED TECHNOLOGIES ...... 145.26 0.74 149.36 102.06 TELEFONICA SA ...... 6.79 -0.06 9.18 5.94 WORLD INDICIES VERIZON COMMUNICATIONS ...... 60.82 0.29 61.05 53.05 TOTAL ...... 47.13 -0.08 52.27 43.18 Price Chg %Chg Price Chg %Chg Price Chg %Chg Price Chg %Chg VISA ...... 181.89 1.29 185.74 168.86 UNILEVER NV ...... 53.51 -0.33 57.56 46.03 FTSE 100...... 7137.85 -50.65 -0.70 S&P 500...... 3117.43 +4.67 +0.15 CAC 40 ...... 5801.55 +1.87 +0.03 Hang Seng ...... 26217.04 +154.48 +0.59 WALGREENS BOOTS ALLIANCE...... 59.10 0.19 76.05 49.29 VINCI ...... 97.16 -0.94 102.40 70.50 FTSE 250 ...... 20707.33 +41.85 +0.20 Dow Jones I.A ...... 27677.79 +28.01 +0.10 Swiss Market Index ...... 10363.50 +28.94 +0.28 Nikkei ...... 23300.09 +164.86 +0.71 WALMART ...... 118.66 -0.03 120.98 85.82 VIVENDI ...... 24.46 0.10 26.42 20.93 FTSE All-Share ...... 3969.84 -21.08 -0.53 Nasdaq Composite ...... 8570.70 +4.03 +0.05 ISEQ Overall Index ...... 7032.56 +46.77 +0.67 STI Index ...... 3174.19 +14.40 +0.46 WALT DISNEY CO ...... 147.44 -0.84 151.64 100.35 VOLKSWAGEN AG ...... 174.94 -0.22 183.46 136.26 FTSE AIM All-Share ...... 906.05 -1.44 -0.16 Xetra DAX...... 13054.80 -85.77 -0.65 FTSEurofirst 300 ...... 1572.25 -2.90 -0.18 ASX All Ordinaries...... 6791.10 +76.70 +1.14 WELLS FARGO & CO ...... 53.23 -0.01 54.46 43.38 CITYAM.COM FRIDAY 6 DECEMBER 2019 FEATURE 21 OFFICE POLITICS

reducing their carbon footprint. The individual impact of each may Here’s how to not seem much, but collectively small businesses are a powerful force for good that deserve positive recog- nition from our party leaders. The fact that this year’s Small Busi- win the small ness Saturday — the UK’s largest PEW PEW, small business campaign — is taking BANG BANG place in such close proximity to a General Election has been a gift to business vote Call of Duty those out on the campaign trail. Mobile Politicians on all sides are looking to Free convince small businesses that they will be the ones to deliver real change. this election Google’s Play We have seen all the party leaders go Store this week out of their way to praise them: in announced the their speeches at the CBI conference best apps and last month, both Boris Johnson and Je- Politicians are trying to woo the backbone games of the remy Corbyn recognised that small year. The User’s businesses are the economic power of the UK economy before next week’s vote Choice for top behind the welfare state. android game of The positive rhetoric has continued 2019 was the from the parties’ manifesto launches, ITH Small Business Sat- Michelle Small businesses ploying around 17m staff across 5.8m mobile version of right through to today. urday approaching to- Ovens employ around companies, and generating turnover the popular With business confidence at a morrow — just five days 17m staff across of more than £2 trillion. first-person record low — in the red for the fifth before Britain goes to 5.8m companies, And when all party leaders say that shooter Call of consecutive quarter according to the polls — party candi- and contribute they will ensure the NHS will be pro- Duty. It comes FSB’s Small Business Index — this datesW across the country have been more than £2 tected in any post-Brexit trade nego- with several weekend is a real opportunity for the vocal in their support of small busi- trillion in tiations, this is also important to different game parties to show what these companies nesses, keen to spotlight the impor- revenues small businesses. One third of pro- formats, from mean to them, and let the rest of the tant role that they play in our curement comes directly or indi- multiplayer country know just how much small economy and in their communities. rectly from small businesses into the death matches businesses should be appreciated. It’s a welcome change from previ- and party promise, plus further un- NHS. Many more support commu- to battle royales Forget lists of promises. It is the ous years. The core focus in earlier certainty around what comes next, nity members with mental and phys- with your confidence that will come from see- General Elections has been — justifi- it’s more important than ever for ical health issues, thereby reducing friends. You can ing thousands of candidates flying ably — on major issues such as the candidates to give small businesses a the burden on the system. even fight the the flag for small businesses that NHS, education, and climate change. confidence boost, and recognise Also, small businesses are leading by undead in the truly means the most to them. Meanwhile, small businesses have their role in society. example on sustainability. Almost nine franchise’s iconic taken a backseat. So when the Prime Minister talks in 10 small businesses are regularly re- zombie mode. £ Michelle Ovens is director of Small But this year is different. With about employment figures being at a cycling and reusing materials, 75 per Business Saturday, and founder and Brexit now the thread running record high, it is small businesses cent are actively reducing waste, and a director of small business campaigning through every debate, manifesto, which are doing that hiring — em- significant number are committed to firm Peak B. 22 OPINION FRIDAY 6 DECEMBER 2019 CITYAM.COM FORUM EDITED BY LUKE GRAHAM LETTERS Brexit has become a project TO THE EDITOR Bah humbug to of protectionist nationalism Black Friday

[Re: Debate — Are there any signs that S THE Conservative party’s take a conciliatory approach and tual benefit. UK retailers could be in for a merry vision for post-Brexit find a Brexit compromise that Ben Another benefit of Brexit, accord- Christmas this year?] Britain becomes clearer, might bring a degree of unity. She Kelly ing to the Conservatives in this elec- It’s the most wonderful time of the year... are there any liberal Brexi- snubbed liberals, sneered at “citi- tion campaign, is to ditch state aid or is it? The festive period is highly A competitive, with every retailer making a teers left who can’t see just zens of the world”, and saw restrict- rules so that they can bail out and how far this project has run away ing immigration as the great prize subsidise failing British industries. lot of noise to get the attention of the all- from them? of Brexit. She hardened the divide Brexit is now about the freedom to important customer — which means I too once believed that Brexit that Brexit created. give taxpayer handouts to failing in- there’s every chance that brands could get could be a liberal project, but that By the time Boris Johnson became dustries with close connections to lost in the crowd. vision now looks like nothing more Prime Minister, his only choice was the government or electoral signif- Part of the problem is that the idea of than a useful idiot’s delusion. to build an election-winning major- icance in key constituencies. relying on Christmas to provide the bulk of Do you remember the liberal Brex- ity from a coalition of Leave voters. Making a profit is the evidence of annual revenue is outdated. It is no longer iteers’ wagon rolling into town? That coalition does not include the a business adding value to society. the sure-fire guarantee of success it once Brexit would see Britain opting for minority of liberal Brexiteers any No business should be considered was. Retailers need to stop focusing on a a relationship with the EU based on more than it includes Remainers. too big to fail. Economies change, one-size-fits-all approach for “big bang” economic ties and trade as it frees With Boris ostensibly more liberal Now, we have a industries change, and the govern- moments a couple of times each year, itself from political union. than May, many hoped that there ment cannot hold back the tide. because it’s not sustainable or prudent. We’d have the best of both worlds. would be a change in tone and sub- Conservative They should concentrate on adapt- Instead, retailers should be leveraging EU nationals would have nothing to stance on Brexit and immigration. ing the country to inevitable change their transactional data to best serve worry about because they’d retain Instead, he doubled down. government and supporting people to gain the customers through the use of predictive all their rights. Ignore the naysay- There is a lamentable pattern of promoting it as skills they will need for the future. technologies such as artificial intelligence. ers, Britain will not turn in on itself anti-immigration rhetoric in the What’s extraordinary about this is This provides a clear view of what but be more open and engaged with Tory election strategy, as they set a means of gaining that eurosceptic Conservatives have customers are looking for, and negates the the world. an aim to reduce immigration the freedom to long denounced the EU as anti- need to participate in a race to the bottom Swashbuckling Britain would be- overall and vehemently oppose re- competitive and protectionist. This in prices at Christmas. come a standard bearer of free trade. ciprocal free movement rights restrict immigration rang true until British influence Mylo Portas, head of retail, Peak As a champion of the free market, with the EU. and bail out helped reshape the EU to promote we would sign a multitude of trade From whipping up xenophobic more open economies, cross-border After scraping through yet another Black agreements to open our market to hysteria by claiming that immigra- failing industries competition, and free trade. Friday, most of the retail sector has failed the world and give British businesses tion will rise to 840,000 people a The Single Market, the largest and to have a credible answer to digitally new exporting opportunities. year under Labour, to implying most integrated free trade area in transform its biggest revenue channel: the Brexit Britain would be a global that EU migrants are benefit the world, changed the EU irrevoca- store experience. hub of commerce: open for busi- scroungers rather than a net eco- bly, and Conservative idol Margaret Brands like Sainsbury’s piloted ness, open for trade, and open for nomic and social benefit, the Con- free markets and free trade. Thatcher led the way. automated stores in 2019 and missed, and people. As we signed new deals to servatives have adopted a decidedly The “buy local” fallacy is an illogi- Now, we have a Conservative gov- even Amazon’s checkout-free Go store remove barriers to trade and cut tar- illiberal stance on migration. cal policy that shows a lack of con- ernment promoting Brexit as a failed to hit its planned UK rollout. iffs, our supermarkets would be The party has also committed to fidence in local economies and a means of gaining the freedom to re- Yet not all is lost. Britain is on the cusp of stocked with cheap imported goods an anti-trade doctrine, a “buy misunderstanding of their spe- strict immigration, bail out failing amazingly fast 5G experiences, new from all over the world. British” rule for the public sector, cialised nature. If it’s better to pro- industries, and implement protec- technology like NearSt gives people the It would not be an act of insularity and promoting the “local econ- cure goods or services from tionist policies. Those who said ability to search through inventory in local and regression, but a chance to be- omy” in the procurement process. overseas, the government shouldn’t Brexit was a nationalist project feel stores, and a wealth of product-sourcing come more global and more open. This form of protectionism is intervene — it would merely be pro- vindicated — and who can argue? data is available to meet the needs of Reality check. Theresa May chose straight from the Trump and Cor- moting higher costs, reduced choice people who demand more conscious a path and the Conservatives can- byn playbook — they are not the and inefficiency. Local economies £ Ben Kelly is a Conservative consumption. The opportunity in the not veer off it now. She opted not to policies of a party serious about are better off trading freely for mu- commentator for Reaction. 2020s is making the most of technology that is easy for both retailers and their customers to adopt. All of this comes on demand, allowing even the laggards to innovate at speed. As Harry Selfridge once said: “There are no hard times for good ideas.” Immigration is being swept under the rug Howard Pull, head of strategy, MullenLowe Profero

HIS election season is slo- make second time round, with the immigration is necessary for tax gan heavy. “Get Brexit party trying to stay as far away Kate revenue, to pay for the pension and done.” “For the many, not from making a definitive case for Andrews healthcare promises they made to Tthe few.” While necessarily more or less migration. the public. Meanwhile, Labour BEST OF vague, this year’s party It is a far cry from a policy stance knows that efforts to tackle poverty TWITTER mottos have done a decent job of to say that it will be determined by and create meaningful opportuni- getting to the heart of their offers. a myriad of moving parts sometime ties for a better life are issues that Boris Johnson going on This Morning The Conservatives aren’t dallying in the following year. transcend borders. and Peston but claiming he’s too busy on the UK’s exit from the Euro- But meanwhile, the Conservatives Yet it’s been left to the smaller for Andrew Neil shows he rightly took pean Union. The Labour Party is of- can’t seem to decide how closely parties, like the Liberal Democrats, the BBC for mugs. fering more taxes and borrowing they will align themselves with topic reflects that the public isn’t as to make those harder but vitally @DawnHFoster to turbo-charge public spending. Theresa May’s era of hostile immi- concerned about immigration any- necessary arguments. The status of The offers are clear — like them or gration policy. more. While it was the major issue migrants and refugees (particularly PA has spotted that Boris Johnson loathe them. While Boris Johnson has sig- on the public’s mind leading up to the latter group’s ability to work in used a Huawei phone to take his This But not on every issue. Much of nalled that he’ll move away from the referendum, the Ipsos Mori Is- the UK and contribute) has a home Morning selfie with Holly & Phil the tactic in public policy debate arbitrary caps on migration (and sues Index shows how the topic has in some manifestos this election @johnestevens has been to swerve or avoid detail. recently made it easier for foreign plummeted in importance since the cycle, but not the major ones. In some areas, policy lines have graduates at UK universities to vote to leave the EU. Chalk it up as a missed opportu- Update: Four Brexit Party MEPs, been muddled completely. stay and work for up to two years), It now trails the NHS, crime, and nity to engage in this important de- including Annunziata Rees-Mogg (yep, And no area stands out more ob- chief secretary to the Treasury the economy, despite having been bate. But let’s not excuse it. his sister) are walking away from the viously than immigration, a huge Rishi Sunak also used the ITV de- at the front of the pack just a few While it may not be a top priority party and will campaign for the issue during the Brexit referendum bate to reveal that immigration years before. in this election cycle, the immigra- Conservative Party. that has now been shoved under figures would drop under a Con- But I suspect the silence is more tion debate is far from over in the @easypoliticsUK the rug by the two major parties. servative premiership. reflective of a cowardliness in the UK, and there are major questions Labour seemed to have dodged It’s difficult to see how this could two main parties to make the lib- to be answered — especially in a Press conference of resigning Brexit the question completely by linking be predicted, especially under a eral case for immigration, from post-Brexit scenario. Standing on Party people is delayed because Brexit the immigration debate to a second points-based Australia-style system both the economic and ethical the sidelines is no position for fu- Party spokesman is holding referendum. As articulated by that the Tories want to introduce, points of view. ture leaders to take. impromptu rival press conference 20 Labour’s Richard Burgon during unless the government were to set While the system will be facing a feet away in same building the ITV election debate last Sunday, a cap and stick by it. massive overhaul if Brexit is deliv- £ Kate Andrews is associate director at @MichaelPDeacon it will be a decision for voters to Perhaps their dithering on the ered, the Conservatives know that the Institute of Economic Affairs. CITYAM.COM FRIDAY 6 DECEMBER 2019 OPINION 23

WE WANT TO HEAR YOUR VIEWS › E: [email protected] COMMENT AT: cityam.com/forum :@cityam Cut the pessimism, free trade is DEBATE a huge opportunity for the UK After the M&G property fund suspension, should illiquid HE IRONY of the Brexit de- 1776. The theory has since been bate has always been that, Harry proven in practice throughout his- assets be banned from funds? while the value of continued Phibbs tory. Free trade has provided the most Ttrade with the EU is (quite extraordinary reduction in poverty in rightly) regarded as of great developing countries, while also fur- In simple terms, offering daily dealing importance, the potential of Britain ther enriching the western world. in a fund when the underlying assets being able to make our own trade Countries that liberalise flourish — can’t be sold in the same timeframe is deals around the world has been vir- those that put up barriers do not. asking for trouble. Most of the time, it YES tually ignored — or worse, demonised. Amid all this muddled fretting might not be a problem. But when Let’s start with the US. During the about doing less trade with the EU market conditions deteriorate, this RYAN HUGHES General Election campaign, the focus ble to go too far the other way. Cor- and more trade with the US, the rest mismatch comes back to bite, and has been on the implications of a free byn’s plans of capping drug prices, for of the world seems to have been for- investors are the ones who suffer. stigma of a fund being suspended, trade deal with America. The message example, threaten innovation in the gotten. For instance, our role in the The simple remedy is to stop these telling an investor that they can’t have has been that it would be diabolical. pharmaceutical industry and could Commonwealth gives us an excellent funds being offered with daily dealing, their money back for an undetermined Jeremy Corbyn was hot off the mark, actually prevent new drugs from be- network to have free trade with our something that the Financial Conduct length of time because it’s in their own claiming that it would mean “mag- coming available. old friends. It has 53 member states Authority did not do in its recent best interests is a message that will gots in orange juice are allowed”. This The key point is that a US trade deal and comprises 2.4bn people. proposed rule changes following a inevitably be received badly. is based on the US Defect Levels Hand- will not require us to change our rules Trade secretary Liz Truss had three-year review. There is no first In my view, it’s time to grasp the book which specifies “the maximum to spend more on drugs. That is be- pledged that when the UK takes up its mover advantage for asset managers nettle and say that illiquid assets are number of foreign bodies” in food cause no UK government would agree own seat on the World Trade Organi- to do this, even if they know that they not suited to daily dealing funds. products, mandating that it must be to such terms. sation “we will be unapologetic in should, and therefore it can only be led kept down to a tiny level to avoid risk. Of course, some have then sug- fighting the forces of protectionism”. by the FCA. £ Ryan Hughes is head of active As the science writer Tom Chivers gested that no deal would be available Apart from the Commonwealth, she While the FCA is trying to reduce the portfolios at AJ Bell. commented: “There is, absolutely, ro- at all, as there would be “nothing in is looking for the UK “to enter agree- dent hair in peanut butter made in it for the Americans”. Such com- ments with free-market democracies the EU, and maggots in EU-regulated ments show a lack of appreciation for such as Japan and South Korea”. orange juice. The fact that the levels the scale of such deals — as well as a Brazil is another important exam- Allowing funds to invest in illiquid are not explicitly limited does not basic failure to grasp that trade is mu- ple. That country’s foreign minister, assets can help deliver long-term make that any less true — in fact, you tually beneficial. Ernesto Araujo, is keen for a deal with income and returns, both to retail and could argue that the US approach is This is because it makes sense for the EU. But there is great scope for a institutional investors. The money NO both more honest and more stringent everyone to specialise in what they are better deal with the UK, with fewer invested benefits the whole economy, than the EU version. At least they have best at. Adam Smith explained it all in barriers. Then there is eastern Africa, including through infrastructure such CHRIS CUMMINGS a hard limit on how much rat poo is The Wealth of Nations, published in a region of growing importance. The as schools, hospitals, road, and rail. allowed in a pound of ginger.” Initiative for Free Trade has produced So the real question is: how can we This means recognising that daily Then there was the claim that a a report with examples of the poten- ensure that funds work effectively, and dealing may not always be the right trade deal with the US would force A deal with the US will tial, including the Kenya-UK tea trade. customers can continue to access the approach for all fund strategies. the NHS to spend more on drugs. Reg- So we need to shake off the pes- benefits of professional management Together, our industry has proposed ulations over patents obviously need not require us to simistic mentality. There are plenty of and investing at scale? a solution in the shape of our Long- to balance an incentive to produce spend more on drugs. friendly people around the world who In a daily-dealing environment, Term Asset Fund. This has consumer new medicines without the process are keen to do more business with us. suspension is an important way to protection at its core, and provides an being extortionate. No government would Brexit will make it easier for us to get protect investors to ensure fairness at additional route for patient capital to Sometimes the Americans have got agree to such terms on with it. times of stress in the fund. But we also flow into the economy. the balance wrong — which is why in- need to think imaginatively, sulin is much more expensive in the £ Harry Phibbs is a journalist at particularly given that many investors £ Chris Cummings is chief executive of US than in Europe. But it is also possi- Conservative Home. have a time horizon of decades. the Investment Association.

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NEWSLETTERS The biggest stories direct to your inbox GET THE MORNING UPDATE, CITY A.M.’S DAILY EMAIL CITYAM.COM/NEWSLETTER 24 HOT PROPERTY FRIDAY 6 DECEMBER 2019 CITYAM.COM HOTPROPERTY ALL YOU NEED TO KNOW ABOUT THE LONDON PROPERTY MARKET Edited by Helen Crane

BOW ROAD, TOWER HAMLETS, £2.25M EASTERN PROMISE IN BOW This Georgian home complete with swimming pool is in the heart of East London

ow, the formerly industrial district of East London, isn’t renowned for its grand pe- riod properties – so there is considerable excitement Bamong buyers when one does come on to the market. Such is the case with this five-bed- room property on Bow Road, which is not only an example of a beautifully- Clockwise from top: One of the reception rooms; the kitchen; the orangery preserved Georgian period house, but also has particularly eye-catching and home stand out feature is the lime- houses within a conservation area from Bow Road and Mile End stations. who work in Canary Wharf or the City unique interiors thanks to its current stone covered, heated swimming close to both Mile End Park and Victo- and there is also off-street parking for and who want a family-sized home, owner, who works as a designer. pool – also a rare find in this part of ria Park. Transport links are available three cars. but also want to be able to get to work “It is a real rarity for the area it is in,” the capital. Set within a tranquil gar- It has reclaimed marble, limestone in a cab in 10 minutes,” O’Neil says. says Lee O’Neil, partner and head of den, the pool is self-cleaning and also and wooden floors throughout, and He adds that there has been interest the Canary Wharf and Wapping office has a waterfall feature. AREA GUIDE: E3 also retains a number of original from across the board, however, in- at Knight Frank, which is selling the The home is spread across five HOUSE PRICES Source: Zoopla Georgian cornices, shutters and fire- cluding young, affluent buyers who home. “The owner is a bit unique, floors, and has three bathrooms and DETACHED SEMI TERRACED FLATS places. have their sights set on East London, quite an extroverted character, and two generous reception rooms. It also £669,524 £774,003 £754,196 £403,432 The interiors have an Eastern theme, and older, single buyers looking to re- his home is like that as well”. has both a conservatory and an or- TRANSPORT Source: TfL with bonsai trees, bamboo and Bud- turn to London for their retirement. The owner, he says, is leaving Lon- angery, which features exposed brick- Time to Canary Wharf 17 mins dhist-style statues all cropping up don to buy a castle near Somerset. work and bespoke glass roof. Time to Street 7 mins throughout. £ Knight Frank is seeking offers of £2.25m Another feature that makes the It sits at the end of a terrace of seven Nearest tube station Bow Road “We think it would suit a couple and above for the Bow Road home. BRAND NEW RELEASE OF LONDON HELP TO BUY†

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London Help to Buy† is now available on selected 1 and 2 HELP TO BUY – HOW IT WORKS bedroom apartments at Centrum Court, ideally located next to the stunning Cator Park. With a beautifully landscaped TYPICAL EXAMPLE: HOME VALUE £445,000 podium garden and the fantastic amenities of The Village Reservation fee £500 Centre close by, it offers an exceptional city lifestyle. Buyers 5% deposit £22,225 Government 40% loan £177,800 1 & 2 BEDROOM APARTMENTS AT CENTRUM COURT 55% mortgage £244,475 FROM £445,000

OVER RESIDENTS HECTARES MINUTES ON-SITE CONNECT WITH LONDON AWARD OF GREEN 16 FROM CENTRAL ZONE 3 RETAIL HUB WINNING O N L Y CYCLE DEVELOPMENT 35 OPEN SPACES LONDON FACILITIES

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Computer generated image of Centrum Court is indicative only. Photography depicts Showhome and is indicative only. Prices and information correct at time of sending to press. *Timing is approximate only. Source: www.tfl.gov.uk. †London Help to Buy is subject to the Homes and Communities Agency’s (HCA) terms and conditions and is available on new build homes up to £600,000 to customers where the property represents their only residence. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CHECK THAT THIS SCHEME WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT FINANCIAL ADVICE. 26 HOT PROPERTY FRIDAY 6 DECEMBER 2019 CITYAM.COM HOLIDAYLIMASSOL’S HOMES NEW LEASE OF LIFE Formerly a tourist trap, the Cypriot resort is reinventing itself for the luxury market. Words: Keith Perry

yprus has long been a spaces. The elevated podium overlook- investment, with Airbnb fetching favourite family holiday desti- ing the sea will house the infinity €300 a day on a two-bedroom flat. nation – sunny nearly all year pool, landscaped gardens, a double Mortgages at three to four per cent Cround, moderately priced and height gym, bistro and residents’ are available from Cyprus banks after famed for its homely Mediter- lobby and concierge. a 30 per cent deposit. ranean cuisine and relaxed atmos- Residents will also have access to Cyprus is well known for its high phere. over 14,000 sq ft of luxury health and quality of life, mild weather, cultural Glitzy St Tropez it is not, but that is wellness facilities including treat- heritage and growing economy. The all set to change as Limassol – located ment rooms, sauna and steam rooms GDP growth rate during the first on Cyprus’ south coast – sets its sights and a naturally lit 25 metre heated in- quarter of 2019 is estimated at 3.5 per on becoming Europe’s new Riviera. door pool. cent with tourism and real estate driv- The country has already made its The building has been designed by ing the economy. pitch for foreign investment, offering Benoy Architects, the firm Leptos Estates, is also offering film-makers cash rebates, tax breaks behind the Bahrain Ma- developments for sale in and other benefits to shoot in what rina Yacht Club, Fer- other resorts. In Paphos, has been dubbed ‘Olivewood’. rari World Abu Aphrodite Gardens Jiu Jitsu, a science fiction and mar- Dhabi and West- features low-rise tial arts movie starring Nicolas Cage field London; blocks around two which will hit screens next summer, along with pools where a two- has been filmed entirely in Cyprus. BuroHappold bedroom place is Meanwhile, Limassol’s property de- Engineering, €200,000 (annual velopers are hard at work transform- which worked service charges ing the somewhat dated beach town on Morpheus €750). In the hills into a magnet for wealthy travellers in Macau and some 800 British and investors. Bangkok’s Sky- families live in There’s a new marina perfect for walk. Kamares Village, mooring your superyacht, sparkling One-bedroom “the Beverly Hills of new restaurants and bars in the newly apartments are on Cyprus”, where developed Old Port area and a €550m sale freehold from 1,200 contemporary casino resort called City of Dreams is €615,000, about villas, some fetching sev- already under construction. £530,000 with five per eral million, have Limassol’s latest construction proj- cent VAT, roughly €2,000 land panoramic views. ect, Blu Marine, is a trio of wave- registry fees and around €650 a Before the 2008 financial crisis, Brits shaped buildings that will house 247 month in local fees and service accounted for 90 per cent of overseas apartments, promising a sea view for charges on top. sales. That's now at 10 per cent, up every air-conditioned room. Under- There is also a 24-hour concierge from a three per cent low – and things floor heating, a 24-hour concierge service, property and rental manage- seem to be looking up again. service, gym, spa and 50m infinity Clockwise from top: Blu Marine’s ‘uncompromised’ ocean views; the interior of one ment, housekeeping and security Thanks to a four hour flying time pool are all included, as are deep bal- of the apartments; two of the towers within the development aimed specifically at investors looking from the UK and an abundance of conies and seafront gardens. for a “lock up and leave” or ready-to- cheap flights, Cyprus was the fifth “Blu Marine is our flagship develop- believes its long association with the layouts and large south-facing win- rent option. most popular destination for Britons ment, the epitome of world class,” UK (25 per cent of Limassol’s 250,000 dows which maximise natural light. Leptos Estates also offers a rental this summer and Paphos and Limas- says Pantelis Leptos of developer Lep- residents are British ex pats) and two The apartments offer smart home service for buyers and claims Cyprus’ sol have been ranked the seventh and tos Estates, who studied in London British military bases, will ensure the technology, German-branded kitchen year-round sunshine means 36 weeks ninth best value for money European and has close UK links. “Limassol is an special relationship continues. appliances and interiors by designer of rental income can easily be Beach Resorts for UK travellers. exciting investment location and des- Named after the Greek gods Posei- Gianfranco Ferre. achieved. Combine this with the country’s tined to become Europe’s new Riv- don, Zeus and Oceanus, the developer Each tower is strategically placed to Airbnb saw a 71 per cent growth in wider investment programme and iera.” says the three imposing towers of Blu offer uncompromised views of the the area in 2018. Management fees burgeoning film industry, and it While he is waiting to see what ef- Marine ‘pay homage to the sea’, offer- ocean and each block is surrounded will be 10 per cent of income, which looks like now might be the time to fect Brexit will have on Cyprus, Leptos ing generous balconies, column-free by extensive landscaping and green is predicted at three to six per cent on buy in Cyprus.

28 HOT PROPERTY FRIDAY 6 DECEMBER 2019 CITYAM.COM INTERIORS AT HOME IN A festive foray to the iconic store reveals Insta-ready Christmas windows and a new home department designed for interiors junkies, writes Laura Ivill

or a special Christmas treat, when I was a child we always went to see Santa in his grotto Fin a department store. If Har- rods is your go-to grotto (he’s been there since 1955), your children will encounter the bearded one in a Secret Forest decorated with Swarovski crystal (a girl’s second-best friend). Visiting last Saturday, it didn’t mat- ter that I didn’t have any little ones in tow because I wouldn’t have got in anyway. “You need to book in Septem- ber,” they said on the door. You can’t just drop in on Santa these days, it’s by appointment. Shoppers I overheard were touring the London landmarks of Harrods, Fortnum & Mason, Self- ridges and Hamleys. Harrods’ famous windows are all Insta-ready with giant sculptures of wild animals, such as floor lamps (£4,200); and contempo- you go. And if you are there with polar bears and penguins, and, oddly, rary (BoConcept, Porada etc). Then money and you need help, you are in a huge giraffe scuffing about in snow. there’s a huge collection of enviable expert hands. All exemplified by Harrods is undergoing the most ex- Linley marquetry (ideal presents for Asim Mughal, the sales representa- tensive refurbishment in its history, the sheikh in your life), plus luxury tive of Bernardaud porcelain, who and I’d gone to see the swish new-look linens from the likes of Versace, a fab- spotted me admiring the Jeff Koons Home department by Virgile + Part- ric library and home styling service. Balloon Swans (£12,600 each) in the ners on floor three. It’s the first time Being Harrods (now owned by the porcelain and silverware depart- that homewares, kitchen and furni- state of Qatar), bling is also on show ment. He explained how Koons first ture have been together. For anyone – a green malachite and 24ct gold partnered with Bernardaud in the who loves to luxuriate in spaces filled lampstand handmade in Florence 1990s to make his Balloon Dog with with high design, this is heaven, a will set you back £40,000, and Plate editions in porcelain, and said spectacle of beautifully presented Agresti, also from Florence, makes that one that sold for $400 back then rooms. handmade safes, for around £30,000. sells for £25,000 at auction today. I In Fendi Casa, the soft velvets, sump- But if you have more jewellery than may never own a Koons but I can tuous curves and leather upholstery will fit in a safe, you can commission enjoy the craftsmanship and the con- were gorgeously inviting. Brands such Agresti to build and install you a versation. as B&B Italia, Poltrona Frau, Dior, Her- panic room where you can take I didn’t leave with a Swarovski mes and Fornasetti have acres of refuge amid your booty. I’ll wager the snow-globe for myself nor a Harrods space to breathe (Harrods takes up £600,000 panic room in Harrods is a hamper, but I did break the bank in five acres of and has its first for a London department store. Christmas World with an impulse own postcode) and new lighting en- Whether you have that kind of bank buy – two pop-up snow-globe Christ- hances the relaxed, elegant mood. balance or not, two things we can re- mas cards for the princely sum of £14, Rooms are divided into styles: mono ally appreciate are quality and service wrapped in a green and gold Harrods glamour offering the elegantly neu- – and that’s Harrods. In Home, each plastic bag – surely a collector’s item tral Giorgio Collection; modern clas- brand has its own sales representa- these days, and free. sic with its art deco-inspired curves tive – charming, knowledgeable and from Frato of Portugal (curves groomed. These are people-people, £ Harrods Home sale is now on, 87-135 abound); classic, with the standout Clockwise from top: One of the Harrods Christmas windows; the Fornasetti section who will chat agreeably, explain the Brompton Road, Knightsbridge, London Aynhoe Park ostrich-feather gold in the Home department; Dior in the Home section; another Christmas window finer points of their products and let SW1, and online at harrods.com APARTMENTS THAT MOVE YOU

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Notting Hill Genesis terms and conditions apply, contact our team for details. Aff ordability and eligibility criteria applies. Image used for illustrative purposes only. *Travel times taken from Google maps and are approximate only.**Price based on a 25% share of a one bedroom apartment with a full market value of £485,000. Prices correct at time of publication. December 2019. 30 HOT PROPERTY FRIDAY 6 DECEMBER 2019 CITYAM.COM FOCUS ON PRIVATE VIEW SECOND STEPPERS FIND ON THE MARKET IN SPACE IN SOUTHGATE N14 THIS WEEK House prices have rocketed in the past decade

THE PLACE FOCUS ON FROM £335,000 SOUTHGATE Origin Housing has recently launched The Place, a collection of 16 shared ownership and 21 private sale homes in New Southgate. Visit originsales.co.uk/the-place outhgate in North London is a magnet for families, and it’s easy to see why. Not only does Sit have high-performing schools and an abundance of ample-sized properties, it also has plenty of green space (Grovelands, Broomfield and Oakwood parks are all nearby) and excellent links to cen- tral London thanks to its zone four Piccadilly line station. It even got a taste of sporting fame during the 2018 World Cup in Russia, when the grade II-listed station was temporarily renamed Gareth South- TRENT PARK gate in honour of the England man- ager’s success. FROM £575,000 The stock in trade of the Southgate property market is detached, Edwar- One, two and three-bed flats and two, three, dian family homes and semi-detached four and five-bed houses at are for sale at villas. “Homes on The Green and Can- Berkeley’s scheme in Trent Country Park. non Road are among those to achieve Call Berkeley on 020 3797 8033 the highest sale prices in Southgate,” says Frances Clacy, research analyst at Southgate underground station, which was once renamed ‘Gareth Southgate’ during the 2018 football World Cup in Russia Savills. Last year, the house market made up likes of Southgate to get better value Highlights include independent cafe more than in Greater London and the the vast proportion of sales, account- and more space,” says Clacy. Claud W Dennis, which has a vegan wider Enfield borough. However, if ing for 63 per cent of all transactions However, new blocks of flats are menu and espresso martinis, and vi- you have your heart set on this part of in the area. The preponderance of cropping up too, as first-time buyers brant Australian-themed coffee shop North London, Southgate might still houses, rather than flats, contributed gain interest in the area. New develop- Sydney Rocks. be a savvy place to buy. to the fact that a third of homes to sell ments in the Southgate area include “While a semi-detached home during that period topped the one Montmorency Park, a scheme of more EASY TO ESCAPE THE CITY in Southgate averages at 21 per cent million mark. than 400 one, two and three-bed For those looking to spend their more expensive than a comparable apartments, where prices start at leisure time further afield, Saulter property across the borough, this still SECOND STEPPER HOTSPOT £344,750 for a one-bed. says the area is also perfectly located presents significantly better value Many of these homes will have been The lifestyle offering in Southgate for escaping the city by car. than locations closer to the capital bought by second-steppers and upsiz- and its surrounding locations is also “There are excellent road links – to like Alexandra Palace and Crouch End MONTMORENCY PARK ers moving further out. on the up. the A406 and the M1 – so you can be where semis sell for around £1.24m,” “Rising house prices in the capital Ria Saulter, associate director at up and out and, on the road, quickly says Clacy. FROM £344,750 have caused people to look further agent SiteSales Property Group which and easily,” she says. Currently, the average house price afield, and particularly for upsizers is active in the area, says it has “a So how much cash do you need to across all property types in Southgate Montmorency Park in New Southgate offers and second-steppers living in places large variety of local coffee shops and part with to buy a place in Southgate? is £586,147, compared to £473,302 in one, two and three-bed homes with spacious like Muswell Hill, Finchley or High- restaurants, perfect for an after work In the last ten years, prices have risen the wider Enfield borough and layouts and quick connections to London. gate, they’ll opt to head north to the meal or a weekend brunch.” by over 90 per cent – significantly £606,956 in the whole of London. Call SiteSales on 020 3925 9548

AREA GUIDE Area highlights HOUSE PRICES Source: Zoopla DETACHED SEMI TERRACED FLATS The coffee scene in Southgate is £887,200 £789,457 £611,126 £390,565 spearheaded by Claud W. Dennis, TRANSPORT Source: TfL which has a licensed bar and Instagram- Oakwood Park Time to Canary Wharf 50 mins friendly interiors. Also visit Sydney Time to Liverpool Street 38 mins Rocks, an Antipodean themed cafe Nearest trail station Southgate tube where customers rate the fresh sourdough and friendly staff. The BEST ROADS Source: Zoopla restaurant scene is varied, and The Southgate Club Most Expensive Powys Lane £1.36m highlights include Warda, which serves Green’s Steakhouse & Grill Bourne Avenue £1.27m traditional Lebanese food with a Southgate Warda Restaurant AVERAGE RENT modern twist, and Green’s £1,436pcm – two-bed flat Steakhouse, which serves steaks, Claud W Dennis Coffee burgers and seafood in a rustic, homely atmosphere. The Southgate Club is a particularly unique local venue – a Sydney Rocks members’ social club which hosts comedy nights, music acts, live sports and games. The real selling point of Southgate is its outdoor space – an area in which residents are spoilt for choice. Broomfield Park is home to the Broomfield Conservatory Broomfield Conservatory , a botanical garden which dates from 1934, while the 64-acre Oakwood Park is home to avenues of poplar trees and scarlet oaks. Station N11 Road, Montmorency Park Park Montmorency Sales agent 0203 944 6957 | montmorencypark.co.uk0203 944 6957

£230,000 December 2019 and the balance of the voucher will be deducted from the completion balance. must Exchange of contracts th Receive a £10,000 John Lewis voucher when you you when voucher a £10,000 Lewis John Receive Christmas* home before 3 bedroom any reserve £316,250 £28,500 *Reservations must be made prior 25 to 40% Shared Equity Loan Loan Equity 40% Shared 100% Yours 3 beds from £575,000 3 beds from Deposit 5% Mortgage 55% take place within 28 days from reservation and this incentive cannot be used in conjunction with any other offer or incentives. and Terms Conditions apply. 1, 2 & 3 bedroom apartments for sale in New Southgate Southgate 1, sale in New apartments for 2 & 3 bedroom Buy Help to through purchase to available for life Park for Montmorency at

Your HOME 32 LIFE&STYLE FRIDAY 6 DECEMBER 2019 CITYAM.COM GOING OUT FILMS OUT THIS WEEK EDITED BY STEVE DINNEEN @steve_dinneen

recreates 50s New York in stunning fashion, making the low budget drama feel like an expensive epic. He’s also assembled a knock out cast in- cluding Willem Dafoe, Alec Baldwin, Gugu Mbatha-Raw, and Bruce Willis in a tiny appearance that gets his name on the poster. He’s even got Ra- diohead legend Thom Yorke compos- ing a ghostly soundtrack. All the elements are there, but the execution fails within the first hour. The film moves at a snail’s pace, packed with too much information and little indulgences such as a dance scene that seems to go on forever. Nor- ton spends too much time pondering each clue, every interaction, losing any sense of urgency. It’s not all a drudge. Norton unveils and interesting dark side to the city’s development, where minority com- munities were pushed out through elaborate, underhand measures. RECOMMENDED playing a fictionalised version of his There are also fine performances to own father. Verbose, aggressive, but be found, including Baldwin as a HONEY BOY (15) also enormously insecure, it’s one of power mad developer, and Mbatha- DIR. ALMA HAR’EL his best performances precisely be- Raw as a local activist who knows so- BY JAMES LUXFORD cause he knows the character so well, ciety has to change, but has no faith in and is invested in finding the truth it ever happening. As for Norton, he’s Shia Labeouf’s decade might have within him. Noah Jupe is also terrific a mercurial lead. One minute he’s a been very different had he listened to as the young Otis, a boy searching for super cool sleuth, the next a flurry of Steven Spielberg, who saw the actor as affection but finding little comfort uncomfortably performative ticks. a future star in the vein of Tom Cruise other than the kindness of his neigh- Motherless Brooklyn might have or Tom Hanks. bour (FKA Twigs). made a terrific TV series, giving Nor- Labeouf actively turned his back on Honey Boy is a gripping piece of cin- ton enough time to wander down the that path in the 2010s, becoming ematic therapy, which may leave you story’s various avenues without losing more famous for his odd art projects seeing Labeouf as more than the actor the audience. As a movie, it’s a stylish than his performances. What seemed who once put a paper bag on his head. noir that would have been twice the like a spectacular breakdown now Given that this comes so soon after film had its creator practiced a little might lead to a rebirth with autobio- the excellent Peanut Butter Falcon, it more restraint. graphical drama Honey Boy. may well signal the beginning of a The names are changed, but this is renaissance for a man thought to RECOMMENDED very much the story of Labeouf (who have burned his Hollywood bridges. wrote the script) grappling with his THE CAVE (15) childhood. Lucas Hedges plays Otis, a MOTHERLESS BROOKLYN (15) DIR. FERAS FAYYAD troubled actor in rehab looking back DIR. EDWARD NORTON BY JAMES LUXFORD at how he was mentally and physi- BY JAMES LUXFORD cally abused by his father (Labeouf) Director Feras Fayyad puts his audi- when he was a child actor. Have you ever longed for the return of ence on the front line as we follow The context is what makes the story the classic film noir detective story? Amani Ballour, a young doctor in fascinating, despite the uncomfort- Edward Norton sure has, taking self charge of an underground hospital able nature of the story. Labeouf’s indulgence to new heights in this two treating the casualties of aerial attacks script and Alma Har’el’s direction and a half hour mystery. on Syria. She and her colleagues have combine to draw a link between past Norton directs, writes and stars as a limited supplies, intermittent electric- and present. The film is uninterested gumshoe with Tourette’s Syndrome ity, and constant bombardment. in condemnation, more in under- investigating the death of his boss It’s both inspiring and harrowing to standing where the characters’ pain (Bruce Willis), only to uncover a sinis- watch as the staff soothe frightened came from, and how to move on. ter plot within Brooklyn’s halls of children, calm agitated fathers, and Labeouf epitomises this direction, power. Gorgeously mounted, Norton resist calls from concerned parents to

RECOMMENDED AMÉLIE THE MUSICAL THE OTHER PALACE NEW BY SIMON THOMSON THEATRE Amélie the Musical is serving up a warming bowl of chicken consommé for the soul. It is a fairly faithful adaptation of Jean-Pierre Jeunet’s 2001 fantasy- romcom Le Fabuleux Destin d’Amélie Poulain, but while on screen Audrey Tautou played the tit- ular character with elfin charm, on stage Audrey Brisson portrays the meddling moppet with an intensity that seems almost dangerous. Bris- son has great physicality, ensuring she always stands out in the jostling ensemble. The cast is generally impressive, with most actors playing not only multiple roles, but multiple instruments as well. Every one of them is a triple-threat: singing, The less successful elements are in the shower the next morning. dancing, and accompanying the scrappily plotted book, and the The lyrics can also be difficult to themselves on assorted strings, songs, which – although well- hear over the music, despite the guitars, flutes, clarinets, cajóns, performed – are overly similar, and singers being miked. Lovers of lightly pianos, and accordions. There’s also unengaging. There’s nothing to get melancholic Parisian whimsy will be some fabulous puppetry work with you toe-tapping or humming on the thoroughly satiated by Amélie the Amélie as a six-year-old, and some way home, far less any power ballads Musical, but others may find it a other more surreal interludes. to find yourself singing involuntarily little under-done. CITYAM.COM FRIDAY 6 DECEMBER 2019 LIFE&STYLE 33

leave their posts. There are a few scat- tered moments of mirth, like an inci- dent involving some badly cooked rice. But these are pitstops in a film that feels like a battle, with the next threat to their lives or strain on their resources just around the corner. Ballour is a fascinating focal point, driven by a sense of duty but enraged at the obstacles she’s presented with, such as having to justify her position to a man who believes a woman shouldn’t be in such a respected posi- tion. You feel appropriately helpless as she treats a young patient and angrily asks “is God really watching?” The Cave exposes the horror of con- flict, but also champions the heroism sometimes found within the cauldron of war. A must watch for anyone who wants to see beyond the headlines. RECOMMENDED RECOMMENDED LUCY IN THE SKY (15) THE PARTY’S JUST BEGINNING (15) THE NIGHTINGALE (18) DIR. NOAH HAWLEY DIR. KAREN GILLAN DIR. JENNIFER KENT BY JAMES LUXFORD BY JAMES LUXFORD BY JAMES LUXFORD

“Inspired by true events” is a phrase Actors who go behind the camera The Babadook was a stunning achieve- Clockwise from top left: Honey Boy, which explores a often abused by filmmakers, not least have a tendency to lose themselves in ment, and its director Jennifer Kent fictionalised version of star Shia Labeouf’s troubled here in this drama inspired by the vanity projects. Doctor Who and Mar- proves it wasn’t a fluke with The childhood; Edward Norton directs this handsome but headlines made by real life astronaut vel star Karen Gillan avoids this pit- Nightingale. Her follow-up to the 2014 plodding noir drama; Karen Gillan stars and directs gritty Lisa Nowak. fall, proving herself an exceptional hit shares themes with its predecessor, drama The Party’s Just Beginning; Director Jennifer Kent Natalie Portman dons a thick South- writer, director and lead of this but here the stakes are even higher. follows up The Babadook with the excellent The Nightingale; ern accent and a bowl haircut as Lucy thoughtful drama. Aisling Franciosi plays an Irish con- The Cave shows the hard realities behind the Syria conflict; Cola, whose recent mission to space She couldn’t be further from the vict in 19th century Australia who Natalie Portman stars in voyeuristic drama Lucy in the Sky makes her life on Earth seem unful- Disney camp as Liusaidh, a woman goes on a quest for revenge after a filling. Instead of focusing on what who spends her time stumbling heinous act is committed against happens when you’ve achieved the around Inverness, sleeping with her family by an English Lieutenant impossible, the film instead watches strangers and drinking until the pain (Sam Claflin). with voyeuristic fascination as Cola of a past grief gives way to numbness. The film made headlines in Aus- starts to act a little crazy. As a writer and performer Gillan tralia, with audience members walk- The Oscar winner obliges, flailing subverts your expectations – Liusaidh ing out of a Sydney screening, and it’s her arms as she gets over-attached to is undoubtedly a wreck but her vices easy to see why. Graphic depictions of her womanising lover (John Hamm). are shown as symptoms of trauma, sexual assault and murder are pres- Talented co-stars including Zazie which haunt her every turn. ent from early on, but the film is Beetz and Ellen Burstyn are pushed to She’s reckless, but with a vulnerabil- clever enough to merit such an un- the sidelines as the story focuses on ity that makes her empathetic. The flinching portrayal. spectacle and gimmicks, such as a people around her, too, are fleshed Kent is showing us colonisation in shifting aspect ratio (it’s meant to out to divert you from placing the all its horror: even Franciosi’s lead is show shifts in perspective, but feels blame on them. Liusaidh’s mother racist towards her Aboriginal tracker patronising). (Siobhan Redmond) hides deep feel- Billy (Baykali Ganambarr) before their The actors that do get time are ings of inadequacy in her overspend- journey shows them they have more often underdeveloped, like Dan ing, while her mysterious new lover in common than they thought. Stevens as Lucy’s infuriatingly bland (Lee Pace) is running from something The Nightingale can at times feel husband, or Pearl Amanda Dickson dark and upsetting. This isn’t a drama like an endurance test, seeking to find as Lucy’s niece, a role that only exists that points fingers, but instead tries out how much human suffering one only to provide reaction to Portman’s to understand the messiness of life can witness in just over two hours. ramblings. and the loneliness many feel. A strong However, it’s a worthy follow-up to While the premise had awards po- debut from a familiar source, it would The Babadook, and shows Kent is a tential, Lucy In The Sky is a character appear a promising career behind the fearless director determined to shine study with no character. camera is just beginning for Gillan. a light on difficult subjects.

ESSENTIAL Supported by a strong cast, the play is an impressive marriage of FAIRVIEW writer and director, an intricately- YOUNG VIC plotted, perspective-bending, BY LAUREN CRISP jigsaw-type piece, in which ideas of race are explored in a novel, hen talking about her captivating and often very witty Pulitzer Prize-winning way. I felt certain as I watched that play, Fairview, writer my experience of this play would be WJackie Sibblies Drury very different to the person sitting explains that she next to me, and to all others cannot reveal what it is about watching, based on the unique without spoiling it. And she has a experience and background of each point – this really is a see-it-to- and every audience member. There believe-it surprise of a show, and is is a beauty in that; a production thoroughly deserving of such which highlights theatre as a anticipation. shared space for thought, however In simple terms, the story different its participants may be. concerns a black middle-class The play asks, why should a curtain family, produced in the style of an divide us, or a television screen for African-American sitcom, with a set that matter, and why should some that constructs a cinematic, dream- observe and others be observed? like quality. Fairview is a mad experiment The viewer is carefully lulled into really, and what might be described the Frasier family’s seemingly in parts as theatre of the perfect life, until the action begins Grotesque; somewhere between to unfurl into highly charged chaos real and non-real; funny and and ultimately explodes in many frightening. It examines who pulls unexpected directions. Sibblies the strings in society, who controls Drury’s work is rich in thought- how and what we watch, and how provoking ideas which merit might this change. It’s an original, careful deliberation, down to the intelligent and important piece of play’s very name. theatre. 34 PUNTER FRIDAY 6 DECEMBER 2019 CITYAM.COM THE PUNTER RACING TRADER David Pipe on his David Clouds can Kick rivals runners across the Pipe country over the next few days

E’RE HOPING into Touch at Aintree VIEUX LION ROUGE he can prove it in whichever can run another race he runs in. big race at Aintree At Sandown, both TAJ tomorrow in the BADALANDABAD and EUR GONE Grand National fences didn’t go to plan WBecher Chase (1.30pm). WEST will run in the Pertemps Bill Esdaile in April when he fell at the first fence, He’s got a pretty formidable Qualifier (1.20pm). The former is but he is generally a good jumper and I record over the big National back off an injury lay-off and previews the two wouldn’t let that put you off. fences and comes into this in will improve for the run, while Placed at the last two Cheltenham Fes- good form having won a the latter would have an each- big races over the tivals, he also hit the frame in 2018 veterans’ race before being given way squeak if he handles the Welsh and Scottish Grand Nationals. a nice spin over hurdles last ground. National fences He is a consistent staying chaser who time. RATHLIN ROSE will head to at the age of nine should now be hitting Tom [Scudamore] schooled the London National (3.35pm) ILLIONAIRE businessman and his prime for races in this division. him in the week which went later on the card. The trip might major owner Trevor Hemmings Smith’s horses have bounced back to well so fingers crossed he can be slightly further than ideal, loves to have winners at Aintree, form in recent weeks and this son of run another big race. but he goes well at the course but there is one race that mat- Cloudlings looks a good each-way bet at I won’t decide until later this having won there three times. ters more to him than 8/1 with Ladbrokes. morning if UMBRIGADO goes to Over at Chepstow, Bany other. It could be a day to remember for Hem- Aintree (1.00pm) or Sandown REMASTERED will probably run Hedgehunter, Ballabriggs and Many mings as I also like the look of his TOUCH (2.25pm). in the handicap hurdle (1.25pm). Clouds have given him three memorable KICK in the closing Virgin Bet Grand He ran well at Haydock last We’re hoping a step up in trip Grand National victories and you get the Sefton Handicap Chase (3.15pm). time out, but didn’t quite stay and a change of tactics will feeling he has always thought VINTAGE Trained by Paul Nicholls, who has won the trip so we’re dropping him bring about a bit of CLOUDS might be the next. the race three times in the past six years, back in distance. improvement. He’ll like the Sue Smith’s nine-year-old takes his the eight-year-old reappeared with a fine Trevor We still think he can be ground too and should go there chance in tomorrow afternoon’s Randox winning effort at Fakenham in October. Hemmings could competitive off a mark of 142 with a good chance. Health Becher Handicap Chase (1.30pm) He has since been targeted at the race land huge and he’s shown in the past what after a pipe-opener at Kelso in October. and the 6/1 looks a fair price to cap off a Aintree double a nice horse he is, so hopefully in association with Admittedly, his first start over the fantastic afternoon for his local owner. CITYAM.COM FRIDAY 6 DECEMBER 2019 PUNTER 35 KING’S SCEAU Bill Esdaile previews the best of the action from TO GIVE ROYAL Sandown ATCHING top-class PERFORMANCE chasers speed around Sandown is one of the Wgreatest sights in Jump racing. With the cream of the current two- IN TINGLE CREEK mile crop out in force for the Betfair Tingle Creek Chase (3.00pm), this year’s race promises to be a scintillat- ing spectacle. Defi Du Seuil heads the betting after defeating Politologue in the Shloer Chase at Cheltenham three weeks ago. Philip Hobbs’ star looked in a spot of bother turning for home before his stamina kicked in up the climb to the finishing line. To pick up Paul Nicholls’ smart grey in the closing stages was a de- cent start to the season and his novice form suggests he will be a force in the top races this term. He saw off Gold Cup favourite months ago. JECEHHEMÊI8?=H79;7JI7D:EMD him best. Lostintranslation in the Grade One He was much better than that in He’ll need to pull something out of Going: GOOD TO SOFT, Soft in places 5 4422-2 POLITOLOGUE (20) (HT) (CD) (GS,S) Scilly Isles Chase at Sandown in Feb- the spring when third behind Altior P Nicholls 8 11-7...... H Cobden the hat to turn to the tables on Defi ruary before beating the same rival and Politologue in the Champion BETFAIR TINGLE CREEK Runs: 24 Wins: 10 Places: 3 £669,776 Du Seuil on last month’s Chel- 3.00 ITV4 in the JLT at the Cheltenham Festi- Chase at Cheltenham, while his sec- CHASE (GRADE 1) (1) 6 14232- SCEAU ROYAL (224) (CD) (GS,S,G) tenham form, but Paul Nicholls’ val. ond to Altior over this course and £84,405 1m71/2f A King 7 11-7 ...... D Jacob horses all seemed to be needing the Runs: 25 Wins: 11 Places: 6 £325,740 That’s top-class form but both races distance on the final day of last sea- run at that time. 1 211-21 DEFI DU SEUIL (20) (C,D) (S,GS) 7 1/25-1 UN DE SCEAUX (221) (CD) (HY,S,YS,Y) were over 2m4f and he would prefer son proved his liking for the track. P Hobbs 6 11-7 ...... B J Geraghty W Mullins (IRE) 11 11-7 ...... P Townend Last year’s runner-up Un De the ground to be more testing than He looks to have a cracking chance Runs: 18 Wins: 12 Places: 1 £425,082 Runs: 32 Wins: 23 Places: 4 £664,125 Sceaux, winner of the 2016 Tingle

it’s likely to be for tomorrow’s race. for the in-form Alan King who has a 2 315-12 DOLOS (32) (T) (CD) (S,G) 8 1/U23- WAITING PATIENTLY (246) (P) (D) (GS,S) Creek, is another regular in this The drying conditions are likely to superb record with horses returning P Nicholls 6 11-7...... H Skelton R Jefferson 8 11-7 ...... B Hughes race. Runs: 23 Wins: 5 Places: 11 £163,753 Runs: 12 Wins: 7 Places: 3 £222,164 suit SCEAU ROYAL much better at 6/1 from a summer break. His presence, along with Waiting 3 2224-1 JANIKA (32) (HY,S) with Coral. Politologue came out on top in the 2018: Altior 8 11 7, N De Boinville 8/13F (N Henderson), 4 ran. Patiently, Dolos, Janika and Ornua, N Henderson 6 11-7 ...... J Bowen :BETTING: 13-8 Defi Du Seuil, 4 Un De Sceaux, 5 Politologue, He won the Henry VIII Novices’ thrilling finish to the 2017 Tingle Runs: 17 Wins: 5 Places: 6 £239,174 6 Sceau Royal, 9 Janika, 12 Waiting Patiently, 25 Dolos, 33 Ornua makes this a fascinating contest. Chase on this day a couple of years Creek. He failed to stay the three- 4 2F1-P2 ORNUA (28) (D) (G) ago and the soft going was all mile trip when fourth in the King H De Bromhead (IRE) 8 11-7 .... A Coleman POINTERS TOMORROW against him when he was last of the George last season and a fast-run Runs: 20 Wins: 7 Places: 6 £71,711 four runners in the this race 12 race over this distance seems to suit Sceau Royal 3.00pm Sandown Just Step Back and leave Sandown handicap to the Pro IVEN the likes of Brain Power That was his first start since having improving Song For Someone who (3.35pm), STEP BACK looks the best Although Mark Bradstock’s hope Gand Lil Rockerfeller have won a wind operation and given the way made a winning comeback at bet with him returning to his was beaten 19 lengths, he made the Jumeirah Hotels And Resorts he travelled, there looks plenty more Fontwell three weeks ago when favourite course. plenty of the running and it was good December Handicap Hurdle (2.25pm) to come from the unexposed four- scooting home by 12 lengths. He put in a superb round of to see some of the old zest back. in the past, it clearly takes a pretty year-old. The handicapper has hit him hard jumping when running away with He is in with a great shout at 8/1 smart sort to win it. He looks nicely handicapped on his for that victory, but it’s hard to know the Bet365 Gold Cup on the final day with Ladbrokes. I’m hoping that horse might be form from last season and his trainer if we’ve got to the bottom of Tom of the 2018 season. Dan Skelton’s PROTEKTORAT who is an expert at winning these decent Symonds’ four-year-old just yet. He failed to sparkle on left-handed POINTERS TOMORROW made a promising return to action two-mile handicap hurdles. His trainer learnt his trade from tracks last term but he bounced back last time where he was just touched Skelton’s inmate should be backed Nicky Henderson so he’s well used to to form when attempting to defend Protektorat 2.25pm Sandown off over course and distance last at 6/1 with Ladbrokes. dealing with quality horses. his Bet365 Gold Cup crown in the Step Back 3.35pm Sandown month. The weights are headed by In the Betfair London National spring. 36 PUNTER FRIDAY 6 DECEMBER 2019 CITYAM.COM THE PUNTER HONG KONG RACING TRADER

Deirdre, and recent Japanese Group Wally Pyrah previews the Hong Kong One winner Lucky Lilac look the ob- vious threats. International Races from Sha Tin John Moore’s potentially super- sonic sprinter AETHERO is going to be a hot favourite with Purton aboard when racing at Group One level for the first time in the Hong Kong Sprint (6.20am) over six furlongs. World should be A winner of five of his six starts, the Australian-bred three-year-old is still on a learning curve but has unbeliev- able raw talent and could be a super- star. watching Aethero He beat nine of his 13 HK Sprint ri- vals in scintillating fashion in the Group Two Jockey Club Sprint last month, and an outside draw will be to his benefit as he hates to get crowded during his races. sprint to victory After an encouraging run behind Aethero following a long lay-off last month, Beat The Clock looks the principal threat, while anyone look- LL EYES from the racing at 8.10am. ing for an attractive long shot should world will be firmly fixed on Hong Kong swept the board last pay attention to FULL OF BEAUTY. events happening at Sha Tin year, winning all four of the Group This six-time winner faced a near Ain Hong Kong on Sunday Ones, and all four winners – Exultant impossible task from the outside morning. (HK Vase), Mr Stunning (HK Sprint), Aethero was very draw in the Jockey Club Sprint but It’s the LONGINES Hong Kong Inter- Beauty Generation (HK Mile) and Glo- impressive in the finished strongly to take fourth. national Races (HKIR), featuring four rious Forever (HK Cup) – are back to Jockey Club His closing sectional times over the Group One contests worth around defend their crowns. Sprint last time last half mile were the fastest in the £9million in prize money. This is a big day for local reigning contest and this time he has drawn With some of the best horses and champion jockey Zac Purton, who an all-important low number. most popular jockeys from around rides three probable favourites, and ald Mosse, holds the record of the month. He is capable of making the frame the globe on show, this is truly a also gets the leg up on last season’s most winners (eight) in the history of Last year’s success was gained at the at attractive odds. mouth-watering spectacle, and one Hong Kong Cup winner Glorious For- HKIR, will be hoping to surpass that expense of top Japanese stayer and that’s guaranteed to excite racing ever. record early on when he partners de- Cox Plate winner Lys Gracieux, with fans. The Aussie-born rider is never short fending champion EXULTANT in the subsequent Prix de l’Arc de Triomphe POINTERS SUNDAY An early-morning alarm call is a on confidence, but even he will Hong Kong Vase (5.40am) over 1m4f. hero Waldgeist, back in fifth. must, with the first of the featured surely feel some pressure with the lo- The Tony Cruz-trained five-year-old Epsom Derby winner Anthony Van Exultant 5.40am Sha Tin races starting at 5.40am and the cals cheering him on aboard three of warmed up for this event with an Dyck, rated by many to have been an Aethero 6.20am Sha Tin highlight of the morning, the Hong Hong Kong’s most popular horses. emphatic victory in the Group Two unlucky loser in the Breeders’ Cup Full of Beauty e/w 6.20am Sha Tin Kong Cup, worth nearly £3m, due off Purton, who alongside jockey Ger- Jockey Club Cup over 1m2f last Turf, popular globe-trotting mare O’Brien can wave Magic Wand to land illustrious Hong Kong win OR MANY thousands of Beauty start of the season when failing to conditions have been against him, contests, there will need to be lots of Group class filly MAGIC WAND finally FGeneration fans, the moment of give over a stone or more to rivals, but and he hasn’t been letting himself questions answered in the 1m2f got her head in front in the Group truth will arrive when the reign- his more recent defeat to Waikuku, down, but he is going to need to be at Hong Kong Cup (8.10am). One Mackinnon Stakes in Australia ing champion lines up in the Group when giving away just 5lbs, was his absolute best to beat top Japanese Neither last season’s impressive last month, and is surely capable of One Hong Kong Mile (7.30am). harder to swallow. miler INDY CHAMP. Hong Kong QEII hero Win Bright, or winning again. The world’s top-rated miler had his Trainer John Moore is adamant the This strong-travelling colt was very HK Cup winner Glorious Forever have air of invincibility blown sky high real champion will show up on impressive when winning the Group run anywhere near their best this POINTERS SUNDAY with a couple of below-par efforts this Sunday morning and his huge band One Mile Championship at Kyoto a season, while last season’s HK Derby season, and the jury is out as to of supporters are guaranteed to few weeks back and arrives in Hong hero Furore may be about to peak, Indy Champ 7.30am Sha Tin whether he can return to his best. follow him blindly again. Kong in top form. but is still beatable. Magic Wand 8.10am Sha Tin Excuses could be made on his first Maybe the present firm track Rounding off the four top-level Ultra-consistent and talented

DON’TDO ’N T MISSM SI S THETHE WORLD’SW ’DLRO S TOPTOP HHORSESSESRO SUNDAYDNUS AAYY 8TH8TH DECEMBERDEC REBME OVEROV RE £9MILLION9£ MI LL NOI ININ PRIZEP ZIR E MONEYM NO YEN Shops Online Watch FIRSTSRIF T GGROUPUOR P OONENE RACER CA E 5:40AM:5 AMAM40 CITYAM.COM FRIDAY 6 DECEMBER 2019 PUNTER 37

12 1-1110 REGENCY LEGEND (21) (T) (CD) (G) 3 007427 TIME WARP (21) (T) (CD) (G) 10 609741 SHINING GEM (21) (P) (CD) (G) (12) C Shum 4-9-0...... S De Sousa 120 SHA TIN (13) P Yiu 4-8-10 ...... G Van Niekerk 96 (6) A Cruz 6-9-0 ...... K Teetan: 129 Runs: 5 Wins: 4 Places: 0 Runs: 13 Wins: 2 Places: 1 Runs: 39 Wins: 11 Places: 8 13 2-1693 IN HER TIME (29) (D) (GS,G) Going: GOOD 4 854599 GLORIOUS FOREVER (21) (TB) (CD) (GF,G) 11 1 SUPER WEALTHY (165) (D) (HY) (4) K Lees (AUS) 7-8-10 ...... B Avdulla 133 (5) F Lor 5-9-0 ...... Z Purton 130 JIM AND TONIC HANDICAP (CLASS 4) (3YO+) (COURSE A) (TURF) (3) D Whyte 4-8-9 ...... A Badel - Runs: 24 Wins: 8 Places: 7 Runs: 1 Wins: 1 Places: 0 Runs: 22 Wins: 6 Places: 5 4.007f 3yo plus 14 dec. 14 111311 AETHERO (21) (CD) (G,GF) 1 5 417308 DARK DREAM (21) (B ) (CD) (G,GS,S,GF) 12 000080 ARDENODE (46) (T) (10) John Moore 3-8-5 ...... Z Purton 140 1 (6) -4811 EMERALD SPUR (49) (TP) (CD) P Yiu 5-9-7 ...... G Van Niekerk (7) F Lor 5-9-0 ...... D Lane 125 (2) W So 4-8-3 ...... M Poon(2) 92 Runs: 6 Wins: 5 Places: 1 2 (14) 47000 SMART CHARADE (15) (HTB) (CD) W So 5-9-7 ...... C Lemaire Runs: 10 Wins: 2 Places: 0 Runs: 17 Wins: 5 Places: 7 3 (12) 314 ALL WONGCHOY (46) (TB1) (BF) C Shum 4-9-6 ...... Z Purton 2018: Mr Stunning 6 9 0, K Teetan 13/5 (F Lor), 11 ran. 13 201438 DIAMOND BRILLIANT (21) (TP) (CD) (G) 6 410582 FURORE (21) (B) (CD) (G) 4 (13) 55370 GOD OF DRAGON (21) (HT) A Cruz 5-9-5 ...... K Teetan (9) T Yung 5-8-4 ...... K Leung 92 HIGHLAND REEL HANDICAP (CLASS 3) (3YO+) (COURSE A) (1) F Lor 5-9-0 ...... J H Bowman 128 5 (11) 50135 SHAMPORT (46) (T) C Fownes 5-9-3 ...... S De Sousa Runs: 7 Wins: 1 Places: 3 6.55(TURF) 7f 3yo plus14 dec. Runs: 11 Wins: 2 Places: 3 6 (9) 43452 SUNSHINE UNIVERSE (21) (B) (C.) Richard Gibson 5-9-2 .. K H A Chan (10) 14 162824 PRINCE OF GEMS (35) (P) (CD) (G) 7 022401 MAGIC WAND (29) (P) (D) (G,GF) 7 (10) 03 TRIPLE TRIPLE (21) F Lor 5-9-2 ...... J Moreira 1 -17379 SACRED IBIS (29) (B) (CD) (GF) (11) C Yip 5-8-2 ...... K Teetan 93 (2) A P O’Brien (IRE) 4-8-10 ...... R L Moore 133 8 (1) 48445 BRIGHT KID (21) (B) D Whyte 5-9-1 ...... O Murphy (4) P O’Sullivan 6-9-7 ...... J H Bowman 91 1 Runs: 6 Wins: 1 Places: 2 Runs: 21 Wins: 3 Places: 9 €303,956 9 (7) 0 VICTORY MASTERY (29) (B ) J Size 3-9-1 ...... U Rispoli Runs: 17 Wins: 4 Places: 4 15 136138 SILVER FIG (42) (CD) (G,GY,A) 8 112212 EDISA (49) (D) (GS,G) 10 (3) 87700 IRON KING (63) C Yip 4-8-5 ...... M Chadwick 2 311313 SUPER STAR (29) (CD,BF) (G,GF) (15) A Millard 5-9-6 ...... RESERVE 95 (4) A De Royer-Dupre (FR) 3-8-7 ...... S Pasquier 129 11 (8) 00987 SHINEALOT (29) P O’Sullivan 4-8-5 ...... A Badel (7) A Millard 5-9-7 ...... J Moreira 91 1 : Runs: 8 Wins: 3 Places: 4 12 (2) 00008 FAIRY FLOSS (57) (HB ) J Ting 4-8-4 ...... M Poon (2) Runs: 9 Wins: 3 Places: 4 Runs: 8 Wins: 4 Places: 3 13 (5) 07-63 FANTASTIC SHOW (21) (C.) Y Tsui 5-8-4 ...... H Lai 16 -12112 TRANSCENDENT (175) (T) (D) (GS,G,A) 2018: Glorious Forever 4 9 0, S Sousa 68/10 (F Lor), 9 ran. 3 159 WINNING DELIGHT (21) (B) (CD) (GF) 14 (4) 02698 SOLAR BILLION (60) (TB) K Man 4-8-4 ...... K Leung (16) A Cruz 3-9-7 ...... RESERVE 112 (1) C Fownes 4-9-6 ...... Z Purton 89 LORD KANALOA HANDICAP (CLASS 2) (3YO+) (COURSE A) 15(15) 05700 VOYAGE STAR (21) (TV) (C.) T Yung 4-9-0 ...... RESERVE Runs: 10 Wins: 5 Places: 2 16(16) 5 PLIKCLONE (18) (H) D Hall 4-9-1 ...... RESERVE Runs: 3 Wins: 1 Places: 0 8.45(TURF) 6f 3yo plus14 dec. 2018: Smart Charade 4 9 2, Yasunari Iwata 213/10 (W Y So), 14 ran. 2018: Regency Legend 3 9 2, N Callan 15/1 (C Shum), 14 ran. 4 644000 HERCULES (21) :BETTING: 6/5 Beauty Applause, 5 Shining Gem, 6 Prince Of Gems, 8 Others 1 029322 CALIFORNIA WHIP (35) (HTB) (C,D) (GF,G) (14) C Yip 4-9-4 ...... B Avdulla 91 (11) A Cruz 6-9-7 ...... K Teetan 114 FANTASTIC LIGHT HANDICAP (CLASS 3) (3YO+) (COURSE A) LONGINES HONG KONG VASE (GROUP 1) (3YO+) (COURSE A) Runs: 9 Wins: 0 Places: 0 (TURF) 1m1f 3yo plus14 dec. Runs: 43 Wins: 5 Places: 17 4.30 (TURF) 1m4f 3yo plus14 dec. 5 440320 ALCARI (29) (B) (C) (GF) 5.40 2 160319 THANKS FOREVER (21) (P) (CD) (G,GY,GF) 1 559680 EASY GO EASY WIN (21) (B) (C) (G) (11) P Yiu 5-9-2 ...... D Lane 90 1 112131 EXULTANT (21) (T) (CD) (G,GY,GF) (9) John Moore 4-9-7 ...... J McDonald 113 (6) D Whyte 5-9-7 ...... A Badel 99 Runs: 25 Wins: 2 Places: 10 (14) A Cruz 5-9-0 ...... Z Purton: 136 Runs: 8 Wins: 4 Places: 1 Runs: 24 Wins: 1 Places: 7 6 224417 CRAIG’S STAR (29) (B) (CD) (G,GF) Runs: 24 Wins: 10 Places: 8 €50,691 3 238476 GUNNISON (29) (D) (GF,A) 2 185771 SPLENDOUR AND GOLD (29) (CD) (G,GY,GF) (2) C Shum 4-9-2...... M Guyon 88 2 15-126 GLORY VASE (63) (D,BF) (F) (3) J Size 5-9-5 ...... A Badel: 116 (8) C Yip 5-9-7 ...... U Rispoli 95 Runs: 10 Wins: 2 Places: 4 (7) T Ozeki (JPN) 4-9-0 ...... J Moreira 136 Runs: 22 Wins: 4 Places: 6 Runs: 10 Wins: 4 Places: 1 7 502 STAR OF YUEN LONG (21) Runs: 7 Wins: 2 Places: 2 4 224213 FAT TURTLE (35) (B) (CD,BF) (G,GF) 3 664686 MONGOLIAN KING (29) (C) (9) K Man 4-9-2 ...... C Y Ho 92 3 -25141 ASPETAR (77) (D) (G,GS) (10) F Lor 5-9-3 ...... J Moreira 113 (2) Y Tsui 7-9-6 ...... C Lemaire 99 Runs: 3 Wins: 0 Places: 1 : (11) R Charlton (GB) 4-9-0 ...... J Watson 131 Runs: 8 Wins: 2 Places: 5 Runs: 28 Wins: 2 Places: 5 8 -25141 LAKESHORE EAGLE (29) (CD) (G,GF) Runs: 10 Wins: 4 Places: 3 €235,002 5 487000 MISSION TYCOON (15) (TB) (CD) (G) 4 431315 HAPPY SEBRING (29) (TB) (CD,BF) (G,GF) (10) W So 5-9-1 ...... K Leung 92 4 264513 SOUTHERN LEGEND (21) (V) (C) (G,GF) (12) F Lor 5-9-1 ...... K H A Chan(10) 116 (13) A Cruz 5-9-5 ...... L Dettori 92 Runs: 6 Wins: 3 Places: 1 (9) C Fownes 7-9-0 ...... A Sanna 133 Runs: 20 Wins: 4 Places: 5 Runs: 19 Wins: 4 Places: 3 9 031142 MONICA (29) (TB) (CD) (G,GY) Runs: 32 Wins: 9 Places: 8 6 094182 WATER DIVINER (21) (HTB) (CD) (GF) 5 972420 VINCY (35) (TB) (6) John Moore 6-8-12 ...... J McDonald 91 5 11-561 YOUNG RASCAL (34) (D) (GS,G,S,A) (4) K Lui 7-8-13 ...... Z Purton 114 (5) F Lor 5-9-5 ...... J Moreira 93 Runs: 19 Wins: 3 Places: 2 (10) W Haggas (GB) 4-9-0 ...... L Dettori 134 Runs: 21 Wins: 4 Places: 6 Runs: 16 Wins: 2 Places: 5 €22,095 10 14-790 TAILOR MADE (21) (D) (G) Runs: 9 Wins: 5 Places: 1 €156,184 7 739056 RAGING STORM (21) (E/S) (CD) (G,GF) 6 139038 CHAMPION SUPREME (35) (TB) (CD) (G) (12) C Chang 3-8-11 ...... B Shinn 93 6 -13181 CALLED TO THE BAR (91) (T) (D) (G,GS) (13) J Size 5-8-10 ...... R L Moore 116 (3) John Moore 4-8-13 ...... J McDonald 92 Runs: 6 Wins: 1 Places: 0 (4) Mme Pia Brandt (FR) 5-9-0 ...... M Guyon 126 Runs: 18 Wins: 5 Places: 1 Runs: 13 Wins: 2 Places: 3 11 201436 BEAUTY LOYAL (29) (TB) (CD) (GF) Runs: 16 Wins: 7 Places: 6 8 220954 RAGING BLITZKRIEG (42) (H) (D) (A) 7 8-05 GO BALLISTIC (15) (13) A Cruz 5-8-9 ...... K Teetan 92 7 583212 PRINCE OF ARRAN (33) (D) (G) (2) J Size 5-8-9 ...... C Schofield 114 (14) D Ferraris 4-8-11 ...... K Teetan 89 Runs: 20 Wins: 1 Places: 6 (8) C Fellowes (GB) 6-9-0 ...... M Walker 127 Runs: 33 Wins: 3 Places: 11 Runs: 3 Wins: 0 Places: 0 12 408211 RELENTLESS ME (35) (B) (CD) (GF) 1 Runs: 38 Wins: 6 Places: 13 €1,428,344 9 012000 LITTLE BIRD (18) (V) (CD) (GF,G) 8 882263 I DO (68) (TV ) (C,BF) (G) (8) D Whyte 6-8-6 ...... K H A Chan(10) 93 8 299666 EAGLE WAY (21) (TB) (CD) (G) (1) P Yiu 6-8-7 ...... R Bayliss 111 (11) W So 5-8-10 ...... Z Purton 92 Runs: 29 Wins: 5 Places: 6 (3) John Moore 7-9-0 ...... J McDonald 130 Runs: 17 Wins: 3 Places: 5 Runs: 10 Wins: 1 Places: 5 13 -74777 CLASSIC POSH (21) 1 Runs: 36 Wins: 5 Places: 7 10 322121 MR CROISSANT (21) (P) (CD) (G,GY,GF) 9 972676 WORLD FAMOUS (21) (B ) (GF,G) 1 (5) D Hall 4-8-5 ...... M Chadwick 92 9 531075 HO HO KHAN (21) (B ) (CD) (G,GY) (6) W So 4-8-7 ...... C Y Ho 114 (4) P Yiu 3-8-10 ...... C Y Ho 96 Runs: 6 Wins: 0 Places: 1 (5) D Hall 5-9-0 ...... C Y Ho 119 Runs: 9 Wins: 4 Places: 5 Runs: 13 Wins: 2 Places: 1 14 00090 SKYEY SUPREME (32) (T) Runs: 13 Wins: 4 Places: 1 11 335141 MR LUMIERES (18) (C) (G,GF) 10 351222 CINQUANTE CINQ (18) (G) (3) K Lui 4-8-4 ...... M Poon(2) 86 10 466143 DEIRDRE (50) (F,G) (7) D Hall 6-8-7 ...... M Poon(2) 112 (12) T Yung 5-8-9 ...... M Chadwick 94 Runs: 5 Wins: 0 Places: 0 (2) M Hashida (JPN) 5-8-10 ...... O Murphy 136 Runs: 15 Wins: 4 Places: 3 Runs: 6 Wins: 1 Places: 4 15 9-005 SEERITE DRAGON (21) Runs: 27 Wins: 8 Places: 4 €50,000 12 124117 AEROHAPPINESS (21) (CD) (G,GY,GF) 11 0-0090 HOME WIN (29) (15) D Ferraris 5-9-6 ...... RESERVE 84 11 -28431 LUCKY LILAC (28) (H) (F) (8) J Size 5-8-6 ...... S De Sousa 112 (9) C Chang 4-8-9 ...... O Murphy 99 Runs: 4 Wins: 0 Places: 0 (1) M Matsunaga (JPN) 4-8-10 ...... C Soumillon 129 Runs: 17 Wins: 4 Places: 6 Runs: 5 Wins: 0 Places: 0 16 580059 SUMSTREETSUMWHERE (18) (HV) (G) Runs: 11 Wins: 4 Places: 4 13 /310-0 BEAUTY AMIGO (21) (P) (D) (GF) 12 000040 JADE FORTUNE (18) (B) (A,SW,G) (16) L Ho 5-8-6 ...... RESERVE 93 12 127621 TRUE SELF (29) (D) (G,GS,S,YS) (5) John Moore 4-8-1 ...... M Chadwick 108 (1) K Man 7-8-9 ...... S De Sousa 95 Runs: 22 Wins: 1 Places: 2 (6) W Mullins (IRE) 6-8-10 ...... K McEvoy 130 Runs: 10 Wins: 3 Places: 2 €88,730 Runs: 42 Wins: 5 Places: 4 Runs: 10 Wins: 5 Places: 2 €43,769 2018: Encouraging 5 8 13, D Whyte 127/10 (John Moore), 14 ran. 14 31630- PATCH BABY (385) (TB) (D) (SW) 13 960389 RULE THEE (29) (CD) (GF,G) 1 BETTING: 9/2 Relentless Me, Super Star, 6 Craig’s Star, 7 Beauty Loyal, 8 Lake- 13 112033 ANTHONY VAN DYCK (36) (B ) (D) (G,GF,Y,S) : (14) J Ting 5-8-3 ...... L Hewitson 115 (7) P O’Sullivan 7-8-5 ...... K Leung 97 shore Eagle, Star Of Yuen Long, 9 Monica, 10 Alcari, 12 Winning Delight, 14 Sacred (12) A P O’Brien (IRE) 3-8-9 ...... R L Moore 133 Ibis, 16 Classic Posh, 20 Others Runs: 8 Wins: 2 Places: 3 Runs: 31 Wins: 3 Places: 4 Runs: 13 Wins: 5 Places: 4 €585,340 2018: Raging Storm 4 8 10, J Moreira 21/10F (J Size), 13 ran. 14 311368 LONDON HALL (15) (B) (CD) (GF,G) LONGINES HONG KONG MILE (GROUP 1) (3YO+) (COURSE A) 14 2-4416 MOUNT EVEREST (36) (G,SH) :BETTING: 4 Mr Croissant, 9/2 Fat Turtle, 6 Thanks Forever, 8 Mr Lumieres, 9 Aero- (10) D Hall 5-8-1 ...... M Poon(2) 90 (13) A P O’Brien (IRE) 3-8-9 ...... W M Lordan 126 7.30(TURF) 1m 3yo plus10 dec. happiness, 10 California Whip, Raging Storm, 12 Gunnison, Raging Blitzkrieg, Water Runs: 10 Wins: 2 Places: 2 Runs: 8 Wins: 2 Places: 2 €65,381 1 111133 BEAUTY GENERATION (21) (TB) (CD,BF) (G,GF) Diviner, 20 Others 15 760348 DEFINING MOMENT (11) (CD,BF) (GF) (5) John Moore 7-9-0 ...... Z Purton 143 (15) C Fownes 5-8-5 ...... RESERVE 93 2018: Exultant 4 9 0, Z Purton 9/2 (A Cruz), 14 ran. : 0 EISHIN PRESTON HANDICAP (CLASS 2) (3YO+) (COURSE A) :BETTING: 5/4 Exultant, 6 Anthony Van Dyck, Deirdre, 7 Lucky Lilac, 12 True Self, Runs: 30 Wins: 16 Places: 7 (TURF) 1m 3yo plus 14 dec. Runs: 19 Wins: 1 Places: 2 9.2 16 Glory Vase, Prince Of Arran, 20 Others 2 -14131 INDY CHAMP (21) (D) (F) 16 082650 COT CAMPBELL (11) (B) 1 (13) 41136 NOT USUAL TALENT (21) (CD) T Yung 5-9-7 ...... J H Bowman (3) H Otonashi (JPN) 4-9-0 ...... D Lane 135 (16) A Millard 5-9-3 ...... RESERVE 97 LONGINES HONG KONG SPRINT (GROUP 1) (3YO+) (COURSE A) 2 (1) 94705 MORETHANLUCKY (42) (B) (CD) F Lor 6-9-4 ...... M Chadwick (TURF) 6f 3yo plus14 dec. Runs: 7 Wins: 3 Places: 2 . Runs: 8 Wins: 0 Places: 1 6.20 3 (5) 11709 RACING FIGHTER (15) (TB) (C) C Yip 5-9-2 ...... M Guyon 3 400543 PERSIAN KNIGHT (21) (TB) (D) 4 (10) 80111 MORE THAN THIS (35) (CD) K Lui 3-9-1 ...... K Teetan 2018: Ho Ho Khan 4 9 2, C Y Ho2 77/20 (D Hall), 13 ran. 1 -12213 BEAT THE CLOCK (21) (T) (CD) (G,GF) (6) Y Ikee (JPN) 5-9-0 ...... O Murphy 131 5 (11) -1571 PLAYA DEL PUENTE (46) (T) (D) C Shum 3-9-1 ...... J Moreira :BETTING: 7/2 I Do, 5 Cinquante Cinq, 6 Happy Sebring, 7 Splendour And (3) J Size 6-9-0 ...... J Moreira 136 Runs: 18 Wins: 2 Places: 5 6 (14) 3-509 JOYFUL TRINITY (46) (C ,D) C Fownes 7-8-13 ...... B Shinn Gold, 8 Vincy, 10 Champion Supreme, 14 Mongolian King, 16 London Hall, World Runs: 22 Wins: 8 Places: 14 Famous,20 Others 4 270321 WAIKUKU (21) (CD) (GF,G) 7 (6) 15621 NICCONI EXPRESS (21) (E/S) (CD) J Size 5-8-13 ...... C Schofield 2 192-76 D B PIN (21) (CD) (G) (10) J Size 4-9-0 ...... J Moreira 129 8 (8) 5543 SUPER OASIS (246) F Lor 4-8-13 ...... Z Purton ABLE FRIEND HANDICAP (CLASS 3) (3YO+) (COURSE A) (TURF) (13) J Size 7-9-0 ...... R L Moore 132 Runs: 13 Wins: 6 Places: 4 €8,288 9 (3) -1169 ENJOYING (35) (B) John Moore 4-8-12 ...... A Sanna 6f 3yo plus14 dec. 5.05 Runs: 16 Wins: 6 Places: 6 5 112713 ZAAKI (72) (D) (GS,GF) 10 (4) 1337 STAR PERFORMANCE (35) (HT) (C, BF) A Cruz 4-8-12 ...... L Dettori 3 21-238 MR STUNNING (21) (CD) (G) 1 1-00 ANONYMA (29) (T) (G) (2) Sir M Stoute (GB) 4-9-0 ...... R L Moore 131 11 (2) 01606 GOLD CHEST (15) (T) (C ,D) Richard Gibson 4-8-11 ...... C Lemaire (2) F Lor 7-9-0 ...... J H Bowman: 136 12 (7) 12330 AMAZING BEATS (246) P O’Sullivan 4-8-8 ...... A Badel (4) D Ferraris 5-9-5 ...... U Rispoli 74 Runs: 16 Wins: 4 Places: 4 €216,968 Runs: 21 Wins: 8 Places: 8 . Runs: 3 Wins: 1 Places: 0 6 123242 KA YING STAR (21) (TP) (CD) (GF,G) 13(12) 45679 ENRICHMENT (21) (B) (C) J Size 5-8-8 ...... G Van Niekerk 4 1119-2 HOT KING PRAWN (21) (CD) (G,GF) 14 (9) 07011 PRECIOUSSHIP (15) (CD) P Yiu 4-8-8 ...... C Y Ho 2 -04197 REEL BIZZY (18) (TB) (CD) (GF) (1) A Cruz 4-9-0 ...... K Teetan 127 (1) J Size 5-9-0 ...... K Teetan 136 15(15) 83208 BEAUTY SPIRIT (29) (TP) (C.) A Cruz 5-8-9 ...... RESERVE (5) C Shum 3-9-4...... H Lai: 94 Runs: 15 Wins: 5 Places: 7 Runs: 12 Wins: 9 Places: 2 16(16) 41017 CORDYCEPS (21) (B) (CD) K Lui 5-8-8 ...... RESERVE Runs: 6 Wins: 1 Places: 0 7 739904 SIMPLY BRILLIANT (21) (P) (CD) (G,GF,GY) 5 341264 RATTAN (49) (B) (CD) (GF,G) 2018: Insayshable 4 9 7, Joao Moreira 19/4 (J Size), 14 ran. 3 6 BE READY (21) (7) F Lor 5-9-0 ...... A Badel 127 (6) Richard Gibson 6-9-0 ...... C Schofield 134 :BETTING: 11-4 Playa Del Puente, 6 More Than This, Preciousship, 8 Enjoying, (1) F Lor 4-9-1 ...... J H Bowman 80 Runs: 24 Wins: 7 Places: 5 Runs: 24 Wins: 7 Places: 8 Super Oasis, 10 Nicconi Express, Star Performance, 12 Not Usual Talent, 14 Gold Runs: 1 Wins: 0 Places: 0 8 535755 CITRON SPIRIT (21) (H) (CD) (GF) 6 503150 LITTLE GIANT (21) (CD) (G,GY) Chest, 16 Amazing Beats, 20 Others 4 414101 BEAUTY APPLAUSE (35) (T) (CD) (G,GF) (8) P Yiu 7-9-0 ...... C Y Ho 127 (7) D Hall 7-9-0 ...... J McDonald 136 (10) J Size 4-9-1 ...... J Moreira 90 Runs: 37 Wins: 9 Places: 14 Runs: 12 Wins: 4 Places: 3 Runs: 6 Wins: 3 Places: 0 9 1-2419 ADMIRE MARS (50) (D,BF) (F) Sha Tin Racecourse Turf Track Starts 7 1-1413 DANON SMASH (70) (D,BF) (F,G) 5 4-2 FLYING ON THE TURF (305) (4) Y Tomomichi (JPN) 3-8-13 ...... C Soumillon 129 (8) T Yasuda (JPN) 4-9-0 ...... L Dettori 128 1600M (6) J Ting 4-9-1 ...... C Schofield - Runs: 6 Wins: 3 Places: 1 Runs: 10 Wins: 3 Places: 2 Runs: 2 Wins: 0 Places: 1 10 5-2711 NORMCORE (50) (D) (F,Y) 1800M 1400M 1200M 8 76-487 IVICTORY (21) (T) (CD) (G) 6 9 ELIGERE (29) (9) K Hagiwara (JPN) 4-8-10 ...... C Lemaire 130 (11) J Size 6-9-0 ...... A Sanna 129 (8) Y Tsui 4-8-13 ...... L Hewitson 83 Runs: 8 Wins: 3 Places: 3 Runs: 15 Wins: 7 Places: 1 Runs: 1 Wins: 0 Places: 0 2018: Beauty Generation 6 9 0, Z Purton 1/2F (John Moore), 14 ran. 9 735335 WISHFUL THINKER (21) (B) (CD) (G) 7 410 MAGIC SUPREME (183) (G) (9) Richard Gibson 6-9-0 ...... C Soumillon 133 LONGINES HONG KONG CUP (GROUP 1) (3YO+) (COURSE A) (12) John Moore 4-8-13 ...... J McDonald - W Runs: 20 Wins: 6 Places: 5 (TURF) 1m2f 3yo plus8 dec. Runs: 3 Wins: 1 Places: 0 8.10 10 564221 SEASONS BLOOM (49) (T) (CD) (G,GF) 8 164-13 HIGH RISE SOLDIER (21) (HB) (D) (G) 1 -11198 WIN BRIGHT (42) (CD) (F,G) (14) C Shum 7-9-0...... G Van Niekerk 130 (7) K Lui 4-8-12 ...... C Y Ho 90 (8) Y Hatakeyama (JPN) 5-9-0 ...... M Matsuoka 134 Runs: 27 Wins: 7 Places: 6 Runs: 5 Wins: 2 Places: 1 Runs: 15 Wins: 6 Places: 1 2000M 2200M 2400M 1000M 11 224124 FULL OF BEAUTY (21) (CD) (G,GF) 9 39 BLOTTING PAPER (21) 2 752114 RISE HIGH (21) (C) (G,GF,Y) (5) J Size 5-9-0 ...... C Y Ho 127 (14) Richard Gibson 4-8-11 ...... C Lemaire 77 (3) C Fownes 5-9-0 ...... C Y Ho 134 Runs: 11 Wins: 6 Places: 3 Runs: 2 Wins: 0 Places: 1 Runs: 20 Wins: 8 Places: 3 €69,147 Cards provided by 38 SPORT FRIDAY 6 DECEMBER 2019 CITYAM.COM SPORT ROCK Brighton pile more misery on Arsenal, who are mired in their worst run for BOTTOM 42 years, writes Michael Searles

HE LAST time Arsenal failed to win in nine consecutive matches it was March 1977, under Terry Neill. Freddie Ljungberg had not even been born.T Defeat at home to Brighton last night ensured the Gunners’ winless run continued and increased the pres- sure on Arsenal’s board to appoint Unai Emery’s permanent replace- ment sooner rather than later – and to get it right. This was Brighton’s first ever win at Arsenal and their first victory on the road since the opening day of the sea- son. Caretaker boss Ljungberg had promised improvements on Sunday's error-ridden performance against Norwich, but they were not forthcom- ing. A 36th-minute opener from Brighton’s Adam Webster triggered apprehension and frustration among Arsenal fans and players alike. And while both rallied for the second half, an 80th minute header from Neal Maupay after Alexandre Lacazette had equalised saw an exodus of fans from Emirates Stadium bewildered by what they were witnessing. PREMIER LEAGUE MISSING MIDFIELD mately afforded them the chance to Brighton were able to play out – ei- Potter to have awarded him a contract Arsenal’s set-up looked wrong from ARSENAL BRIGHTON score late on. ther through slick passing, or Arse- extension just months after joining the off and the use of Mesut Ozil as a nal’s ill-discipline – it left the and it is likely to be the possession- winger failed to utilise his strengths. PRESSING Gunners short in defence, where they based, attacking brand of football not It was the same system that Ljungberg In the early stages of Ljungberg’s first need all the help they can get. seen under predecessor Chris deployed against Norwich and re- match, it was clear the Swede had It was a tactic Emery tried to imple- Hughton. Potter’s men looked danger- mained ineffective as a midfield of tried to get the Gunners back to the ment on arriving in London but even- ous throughout the match and out- Granit Xhaka, Lucas Torreira and Joe Lacazette (50) Webster (36), basics of quick, incisive passing as tually ditched. It now feels as though played Arsenal for large periods. Willock struggled to get a foothold. 12they opened Norwich up repeatedly. a fresh perspective is needed from a Despite their more expansive foot- Maupay (80) Arsenal were at their most danger- There were further signs against coach who was not a part of the ball, it was from a corner that ous when Ozil came inside to collect Brighton that he had been at work be- Spaniard’s set-up. Brighton opened the scoring, before the ball and Ljungberg opted to re- hind the scenes as Arsenal endeav- sealing the win with a header from an place Willock, who had been playing oured to produce one of their most BALL-PLAYING BRIGHTON Aaron Mooy cross. Webster’s first-half at No10, with Nicolas Pepe at half- 50th minute when Lacazette flicked a intense pressing displays to date. Brighton’s ability to play out from the goal came as a result of Arsenal fail- time. The hosts became instantly looping header into the far corner. It is perhaps one of the reasons back was better than Arsenal’s, with ing to clear their lines and means more threatening as runners from However, as the game wore on Arse- Willock started as he and home goalkeeper Bernd Leno particu- seven of their last 10 goals have come midfield played the ball off of a cen- nal’s comeback faded, midfield holes Aubameyang were particularly effec- larly culpable for some poor distribu- from set-pieces. For Arsenal, it means tral Ozil and began to dominate pro- began to re-emerge and Brighton tive in preventing Brighton from play- tion. The Seagulls’ owners must have they remain 10th, 10 points off the ceedings, scoring from a corner in the clawed back possession, which ulti- ing out from the back. However, when seen something they like in Graham top four and in dire need of change.

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ORTHAMPTON’S double- RUGBY the forwards and they have Lewis Lud- power with real pedigree in this com- If there is a positive Northampton header against Leinster in COMMENT lam in the back row, who made a big petition. The Saints have already can take coming into this match it is the Champions Cup, starting impression with England at the claimed Champions Cup wins against that Leinster are at risk of suffering a Ntomorrow, will provide a World Cup, alongside the likes of Tom Lyon and Benetton and will want an- similar fate to Ireland, with players great test of where they re- Ollie Wood and Teimana Harrison, as well other in the first of these two matches coming to the end of a cycle. ally stand this season. as , who all have bags with Leinster. Johnny Sexton, who has been so im- The Saints have had a flying start to Phillips of experience and quality. portant for them, is now 34, and they the new campaign and smashed Exeter Chiefs will be licking their are in the midst of reinventing them- Leicester 36-13 last weekend in the lips at the prospect of a play-off final selves. However, they are expertly East Midlands derby to go top of the without Saracens, whose massive coached by Stuart Lancaster and Leo Premiership. and No10. In South Africa’s Cobus points deduction for salary cap Cullen and any game against them is It has always been a stalwart of a Reinach and Wales’s , they breaches has effectively ruled them going to be tough. club with a great fanbase and struc- have a world-class pairing who epito- out of contention, but Northampton In Cobus Reinach The Northampton of old would have ture, but they started to lose their way mise the firepower that Boyd has at it were probably the most improved side lost these close cup games and this a bit towards the end of Jim his disposal all over the field. of last season, reaching the play-off and Dan Biggar presents a really good test to see Mallinder’s reign. Since becoming director of rugby in semi-finals, and will be there or there- they have a world- where they stack up against one of ’s appointment in 2018 2018, the Kiwi has brought fresh ideas abouts once again come the end of the giants of the game. coupled with an emerging crop of to the team and they are now playing the campaign. class pairing If they can beat them it will put a quality players has really turned with attacking flair and a real accu- Saturday’s game with Leinster at real feather in their cap. things around and they are now play- racy to their game. Franklin’s Gardens is the first serious ing some exciting, attacking rugby. I’m a massive fan of centre Rory test of the season, though, and the These games are likely to prove deci- Ollie Phillips is a former England Sevens No disrespect to Lee Dickson and Hutchinson. He’s a really smart Pro14 champions are no mugs. It’s a sive as to who tops Pool 1 and Boyd’s captain and now a director within the Stephen Myler, but a noticeable differ- player, and Tom Collins is scoring for great chance to put in a strong per- men need to win at home and claim realestate and construction team at PwC. ence has been the combination at No9 fun out on the wing. Then you look at formance against a European super- at least a bonus point away. @OlliePhillips11

SILVA BULLET Derby defeat spells end of Everton manager’s reign VAR CALL HELPS MAGPIES SPORT DIGEST CLAIM VICTORY AT BLADES £ Summer signing Allan Saint- O’Sullivan crashed out of ’s UK Maximin scored his first Newcastle Championship on his 44th birthday goal and Jonjo Shelvey had another with a 6-4 defeat by . awarded by the video assistant referee O’Sullivan failed to pot a ball in the as the Magpies beat Sheffield United first three frames but came back to 2-0 last night at Bramall Lane. Winger level at 4-4 before Ding closed out the Saint-Maximin’s header put the last 16 match in York. World No16 visitors ahead at half-time and Shelvey Ding, who has not won a ranking event doubled Newcastle’s advantage when for two years, now faces an all-Chinese he ran on to Andy Carroll’s header and quarter-final against Liang Wenbo. slotted his second goal in as many games. Carroll was initially flagged TOXIC BUSHFIRE SMOKE offside but referee Stuart Attwell HITS AUSSIE GOLF EVENT waved play on and a VAR check £ England’s Paul Casey was among confirmed that there had been no the golfers affected as smoke from infringement. The result lifted nearby bushfires hit the Australian Newcastle to 11th, behind ninth- Open yesterday. Asthma sufferer Ryan placed United on goal difference. Chisnall, of New Zealand, wore a face mask to combat the toxic emissions, JOSHUA: IT’S MY DUTY TO while home favourite Adam Scott said FIGHT IN SAUDI ARABIA he would consider following suit. £ Anthony Joshua has defended his Casey, whose first-round 68 left him decision to stage tomorrow’s rematch three shots off the lead, said: “I must with Andy Ruiz Jr in Saudi Arabia, admit my eyes are stinging.” following criticism from human rights organisations. “I feel like taking boxing SRI LANKA HIRE FORMER globally is what a world champion PAKISTAN COACH ARTHUR should be doing,” he said. “You fight £ Former Pakistan, Australia and around the world.” The British South Africa supremo Mickey Arthur heavyweight also insisted avenging his has been named Sri Lanka coach. The shock defeat to Ruiz in June and 51-year-old, who was linked with the regaining his world titles would England vacancy before Chris represent a new career high. “This Silverwood’s appointment in October, would be No1,” Joshua added. “There led Pakistan to the Champions Trophy are now doubters.” in 2017 but left his post in August after EVERTON have vowed to appoint a new permanent manager “as swiftly as possible” after sacking Marco Silva last night. The former Watford they failed to reach the World Cup and Hull boss’s troubled 18-month reign was brought to an end by Wednesday’s 5-2 defeat to Liverpool in the Merseyside derby, which left DING CALLS TIME ON semi-finals. He said: “I looked at the Everton in the Premier League relegation zone. Coach Duncan Ferguson will take charge for tomorrow’s match with Chelsea. The club said: O’SULLIVAN’S EIGHTH TITLE talent that’s available and that’s the “Majority shareholder Farhad Moshiri, chairman Bill Kenwright and the board of directors would like to thank Marco for his service.” £ Seven-time winner Ronnie key motivating factor.”