10 The Sunday Times February 16, 2020 BUSINESS

Liam Kelly LETTERS

The wine flowed so freely minority owner WPP last Send your letters, including patience and remind them Some blue-sky thinking on Why Ken decided to serve Mammon that the following morning, year, after getting jitters at SIGNALS full name and address, whose money it is. airlines’ carbon footprint Lester, 70, had to call Rogers the prospect of a socialist AND NOISE . . . to: The Sunday Times, If there’s a bloodbath Having just read your story The Lord moves in to serve Mammon and stay in “just to confirm to each entering No 10 and cracking 1 London Bridge Street, coming, it is well deserved. on the Aerospace Technology mysterious ways: just ask finance. Although the other what we had agreed”. down on tax breaks for London SE1 9GF. Or email David Haim, by email Institute’s request for Ken Costa. The evangelical priesthood was “attractive” Mike Turner, the former entrepreneurs. (The news [email protected] additional government investment banker has and “it felt like a huge Babcock chairman, says: “If from the Tories on that front Letters may be edited We’re all for freeports: they funding (“£150m plea to fund penned a book on the life of sacrifice giving it up”, God he hadn’t been such a great may upset him, depending can be transformational tech for green flights”, last Joseph of Arimathea, the continued to speak to him. chief executive he could have on what’s in the budget.) These giants are authors of You selectively used a quote week), I do not understand saint and “secret disciple” Costa realised that “harsh as been a comedian.” The ad man did the deal their own misfortunes from me that implied the UK why carbon offsets from who buried the body of Jesus the financial environment is, on December 11 — the day A miserable time, indeed, for Major Ports Group is against British airlines are not after he was crucified. his grace would be sufficient before last year’s general mature companies — and one freeports (“Freeports set sail donated to the ATI to invest in In the book, which comes to equip me”. Hornby makes election. It marks a U-turn brought about entirely by in Brexit trade push”, last innovation to reduce their out tomorrow, he recalls He went on to become for Hornby, 52, a favourite of themselves (“Wanted: bosses week). This is not the case. carbon footprint. This would being a young banker in chairman of Lazard when it his great escape Tony Blair when he was who can do more than just Experience from around seem far more efficient than London. The South African- advised Kraft on its divisive Johnny Hornby is flush with leader. “The irony,” he grins. cut”, Agenda, last week). the world demonstrates unrelated offset schemes. born Costa, 70, says he Cadbury’s takeover, and cash — and he has Jeremy RBS, the Hongkong & that freeports can be R Passmore, Torquay agonised over whether to be helped Mohamed al-Fayed Corbyn to thank. #MEN TOO It’s not only Shanghai Banking transformational in the right ordained as a priest, and was sell Harrods to the Qataris. The founder of advertising Marc’s germ women who experience Corporation — they hate it circumstances. For the UK, It’s hard to make an exit invited to do so by the Prufrock wonders how much agency The & Partnership sexual harassment at work. when called that — and they offer the opportunity to from new biotech firms archbishop of Cape Town. of a sacrifice it all was. sold £15m of his stake to of a good idea Sylvia Ann Hewlett listens to deserve all the grow our main global trade You decry the failure to sell After a year of praying for There have been two cases of men opening up about their problems they have. gateways and boost off the Woodford fund’s advice, however, he decided coronavirus confirmed in shocking stories of abuse Pretty much all the banks investment and jobs in investments in small biotech Peter Rogers: for FUNNY BUSINESS California, but it’s not for the and utilities firms have been coastal communities around companies (“New blow to want of Marc Andreessen treating people dreadfully the country. Woodford investors as sell-off JUST SAYING . . . the good times trying to stop it. MAGAZINE, PAGE 38 and getting away with it It is vital that the fails”, last week). However, Farewell to Peter Rogers, the The germaphobe founder almost scot-free. Paltry fines government sees freeports as investing in new bioscience is We accept that long-serving boss of defence of Netscape, who uses wet- and toothless threats don’t more than just about tariffs — risky, with real financial gain giant wipes after shaking hands, TWITTER POLL cut the mustard. aspects such as planning, only accruing to those who may mean we and latterly director of Aston has been uncharacteristically What these companies connectivity and skills are make the shrewdest choices have to pay more Martin, who has died aged 72. active on Twitter. Yes No have in common is non- essential. and are willing to stay the Fellow industrialist Paul Andreessen, whose Silicon existent “customer service”. The process to achieving course. In novel bioscience, tax and pay it in Lester, who knew the Valley venture capital firm When my father died last freeport status must be a staying the course means not different places gravelly-voiced Rogers for 20 was an early backer of 36% 64% year, organisations from the credible one, open to expecting returns within a years and was on the end of a Airbnb, has been tweeting taxman to pension funds compelling bids, and fair and decade (or two). takeover bid from Babcock daily “public service were helpful and gave clear evidence-based in the Neil Woodford never made when he ran rival VT, recalls announcements” from US and consistent advice, selection of locations. it a secret that his investments a “down-to-earth man” — and authorities. The 48-year-old allowing me to complete the We look forward to offered the chance of long- one unafraid of good times. billionaire has reminded his formalities efficiently and working with government — term gains, but were not for As negotiations reached 732,000 followers to wash with no aggro. including through its speculators looking to short- their dénouement in 2010, their hands and avoid But the banks were the welcome consultation, term churn. Too many Rogers and Lester hid in the handshakes — by high-fiving. Tech giant Samsung said opposite of this, never launched last week — as well investors in this sector remain Facebook chief Mark Bluebird restaurant in Techies, now could be that flip phones would answering a question, or as stakeholders all around the ignorant of the risks, money Zuckerberg recognises Chelsea to seal the deal away your chance to get some cash become the “natural giving a different answer UK to ensure that this and time necessary to bring that the social network from prying eyes in the City. for germ-busting start-ups! choice” for most people. every time you called. country’s freeports deliver novel therapeutic agents to will have to pay more in After agreeing a £1.3bn bid, liam.kelly@ Would you buy one? They then default to on their potential. the market. a new OECD tax regime the pair had a few drinks. sunday-times.co.uk @ST_Business unhelpful and aggressive Tim Morris, chief executive, Peter Blower, mode when the bereaved lose UK Major Ports Group Great Yeldham, Essex DATABANK INSIDE THE CITY EMMA DUNKLEY THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR 1.3% 1.5% Joinery Group in 2010. share repurchases in the past FTSE 100 USD > GBP Howden Ingle stepped down in 2018. 3½ years. 7,800 CPI including housing current rate prev. month He was replaced by Andrew Charlie Campbell, an $1.30 1.4% 1.5% Livingston, the former boss of analyst at Liberum, reckons 7,600 U 0.02 Joinery is 12-month high: $1.35 Retail prices index current rate prev. month tool supplier Screwfix, owned this year may be a better one low: $1.20 by Kingfisher, a rival home for consumers thanks to 7,400 2.2% 2.2% EURO a kitchen improvement company. rising real wages. 7,409.13 Average weekly earnings on prev. month on last year EUR > GBP “Livingston has only been Analysts expect a solid set 57.57 H:7,727.5 7,200 £544 0.2% 3.3% chief executive for less than of results on February 27, 0.77% L:7,004.4 U dream two years, but so far he’s with operating profits 7,000 €1.20 Unemployment current rate prev. month FTSE 250 U 0.03 shown he can improve the forecast to increase from 2019 12-month high: €1.21 1.28m 3.8% 3.8% In the world of kitchens, model even more,” said £239m to £254m. low: €1.07 Source: Re initiv Manufacturing output on the year on last month Howden Joinery is king. The Robert Eason, an analyst at Howden opened about 40 RISERS FALLERS YEN FTSE 250 group was even Goodbody, pointing to a depots in the UK last year, Kier: 140.6p U 33.4% on green light Intu: 12p V 30.6% on investor pulling YEN > USD V 2.5% U 0.3% granted a royal warrant in string of depot openings. including its first five in for HS2 Dunelm: £14.04 U 17.5% on out of rescue NMC Health: 775p Retail sales on the year on last month 2015 for supplying its services The chain has a big market Northern Ireland, boosting profits surge Galliford Try: 190.4p V 16.3% on continuing woes Centrica: U 16.2% on budget hopes Reach: 71.3p V 13.8% on losses doubling ¥109.73 U 0.9% V 0.6% to the Queen. share, accounting for 50% of the total to about 734. 21,790.08 166p U 12.2% on consolidation : 39.7p V 11.8% on loss warning U 0.01 With stores on industrial the supply of kitchens to The company is also eyeing 290.79 H:22,114.3 plans Saga: 44.6p U 11.7% on Babcock International: 500p V 10.7% 12-month high: ¥112.39 sentiment on trimming profit forecast low: ¥104.44 estates and retail parks, the builders, according to expansion in , where it 1.35% L:18,559.3 UK trade latest 3 mths prev. 3 mths latest 12 mths balance (£bn) brand resonates with builders analysts at Liberum. has had a small presence for OIL +5.9 -3.4 -29.3 and tradesmen. It has a healthy balance the past decade, with a DOLLARS/BARREL DOW JONES FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change Investors might want to sheet, with £234m of net cash handful of sites in Paris. HANG SENG product pay attention: the shares have as of its November earnings There are, however, 29,398.08 27,815.60 1,678.49 $57.32 W 0% U 0.5% U 1.1% 2.85 been on a tear, rising by 45% update. It regularly does some challenges ahead. 295.57 H:29,568.6 411.33 H:30,280.1 21.00 H:1,685.8 U Budget deficit latest month prev. month year-to-date 1.02% L:24,680.6 1.50% L:24,899.9 1.27% L:1,422.1 12-month high: $75.60 (PSNB) in £bn over the past year to 727.6p, share buybacks and has “Our caution is based on low: $53.11 -4.8 -4.9 -54.6 and a market value of £4.4bn. completed about £240m of uncertainty around the NASDAQ SHANGHAI SENSEX GOLD Founder and former chief economic outlook and 9,731.18 2,917.01 41,257.74 DOLLARS/TROY OZ executive Matthew Ingle set political risk because of 210.66 H:9,748.3 41.04 H:3,288.5 115.89 H:42,273.9 up the company as Howdens Howden Joinery Group Brexit,” said Eason. 2.21% L:7,292.2 1.43% L:2,679.8 0.28% L:35,287.2 $1,581.57 10-YEAR BOND YIELDS % in 1995. It was part of MFI The shares are trading 14.09 U variation 12 months Furniture, which was sold off close to their all-time high, S&P 500 CAC 40 ALL ORDS 12-month high: $1,586.70 700p low: $1,268.45 high low for the nominal sum of £1 to and the dividend yield is 3,380.16 6,069.35 7,227.10 private equity firm Merchant 600 just 1.6%. 52.45 H:3,385.1 39.60 H:6,109.8 105.70 H:7,260.0 BITCOIN UK 0.63 U 0.06 1.33 0.34 1.58% L:2,722.3 0.66% L:5,059.5 1.48% L:6,125.1 DOLLARS Equity Partners in 2006 after Positive results this month US 1.59 W 0.00 2.77 1.43 a sharp slump in sales. 500 could see shareholders take NIKKEI DAX S&P TSX MFI, which changed its profits off the table, leading 23,687.59 13,744.21 17,848.36 $10,084.04 -0.02 U 0.01 0.03 -0.29 name to Galiform, then went 400 to a dip in the share price. U 270.84 140.39 H:24,115.9 230.40 H:13,788.5 192.87 H:17,873.1 12-month high: $13,796.49 about expanding Howdens, 2019 But, longer term, Howden is low: $3,615.27 GERMANY -0.44 V 0.02 0.21 -0.74 0.59% L:20,110.8 1.70% L:11,019.0 1.09% L:15,763.4 Price at 4pm Saturday renaming itself as Howden Source: Re initiv still cooking up a treat. Buy.

TOP 200 COMPANIES

Rank by Market cap Price Change 52-week Mkt Cap Rank by Market cap Price Change 52-week Mkt Cap Rank by Market cap Price Change 52-week Mkt Cap Rank by Market cap Price Change 52-week Mkt Cap Yield P/E Yield P/E Yield P/E Yield P/E on week high low (£m) on week high low (£m) on week high low (£m) on week high low (£m) 42 3i Group 1166.0 +18.5 1189.0 927.8 4.4 - 11345.3 135 2832.0 –84.0 3068.0 2348.0 1.0 94.2 2913.2 93 Johnson Matthey 2646.0 –14.0 3454.0 2605.0 3.2 13.2 5120.9 195 854.0 +56.0 854.0 575.0 1.9 14.1 1797.2 141 315.0 –0.5 317.8 229.8 3.7 - 2808.0 101 4280.0 +138.0 4280.0 2884.0 1.5 21.7 4783.9 192 396.7 +22.3 432.0 314.0 4.3 13.7 1815.7 56 Sage 783.8 +10.6 820.4 655.0 2.1 32.3 8553.5 71 Admiral 2326.0 +56.0 2330.0 2014.0 3.9 16.8 6831.1 9 Diageo 3079.5 –84.0 3625.5 2913.5 2.2 23.7 71966.2 164 Kaz Minerals 495.0 +20.0 738.4 380.3 1.9 6.3 2338.6 104 Sainsbury, J 206.0 +4.0 287.9 177.1 5.3 121.2 4558.5 184 779.8 +9.4 869.2 707.2 3.5 16.0 1997.3 168 Diploma 1993.0 +33.0 2084.0 1328.0 1.3 36.4 2256.9 103 Kingfisher 216.7 +4.8 266.2 185.9 5.0 24.9 4572.6 194 1258.0 +48.0 1258.0 821.0 1.2 23.4 1799.7 138 869.0 +6.0 877.0 728.0 1.6 - 2859.6 100 Direct Line Insurance 348.0 +6.5 366.5 270.5 6.0 11.1 4785.0 66 Land Securities 995.8 +55.0 1001.5 735.4 4.6 - 7383.5 50 Schroders 3381.0 +1.0 3443.0 2541.0 3.4 20.3 9104.6 21 Anglo American 2093.5 +61.0 2266.0 1666.6 3.8 8.3 28611.2 139 Dunelm 1404.0 +204.0 1404.0 730.5 1.9 28.1 2838.9 30 Legal & General 318.4 +9.2 318.4 216.7 5.2 10.1 18993.9 51 Schroders N/V 2590.0 +25.0 2635.0 1962.0 4.4 15.6 9104.6 55 Antofagasta 868.0 +19.0 1022.5 779.6 3.9 17.6 8557.2 83 EasyJet 1498.5 –12.0 1552.0 854.8 3.9 17.1 5949.0 14 Lloyds Banking Group 56.6 –0.3 67.2 48.6 5.8 18.9 39788.5 49 Scottish Mortgage 637.5 +11.0 645.0 449.5 0.5 - 9264.5 114 Ashmore 566.5 +8.0 567.5 397.8 2.9 22.6 4037.7 129 699.8 –6.4 729.8 540.8 2.1 21.4 3122.9 20 8220.0 +24.0 8272.0 4489.0 0.7 60.5 28748.8 45 Segro 935.0 +28.0 935.0 636.6 2.0 10.8 10253.6 40 Ashtead 2679.0 +44.0 2690.0 1805.5 1.3 15.6 12100.2 86 Evraz 385.5 –12.0 709.4 341.4 21.6 4.5 5597.1 165 Man 152.9 –3.0 175.1 130.5 6.0 10.7 2314.8 187 159.3 –3.8 167.7 112.8 - 35.1 1948.8 140 Asos 3374.0 +34.0 4066.0 2107.0 - 114.8 2832.8 23 Experian 2823.0 +62.0 2823.0 1960.0 1.3 43.6 25640.3 120 Marks & Spencer 183.9 +0.4 290.0 163.9 7.4 40.0 3585.2 79 Severn Trent 2609.0 +50.0 2618.0 1905.5 3.6 20.9 6208.1 27 Associated British Foods 2669.0 –24.0 2708.0 2106.0 1.7 24.0 21129.8 112 F&C Investment Trust 782.0 +7.0 786.0 671.0 1.5 - 4243.3 137 391.6 +12.1 415.3 293.4 2.0 22.9 2886.9 153 Signature Aviation 305.1 +0.7 327.5 58.5 4.5 31.1 2525.2 180 Assura 83.5 +3.9 83.5 56.7 3.3 24.6 2015.1 33 Ferguson 7556.0 +116.0 7556.0 4800.0 2.1 20.2 17053.8 94 646.0 –20.0 697.4 489.9 2.6 34.9 5023.0 95 Smith (DS) 365.9 –0.8 394.8 307.9 4.4 107.6 5021.6 4 Astra Zeneca 7300.0 –385.0 7878.0 5644.0 3.2 56.0 95789.7 190 Finsbury Growth & Income 907.0 –2.0 966.0 793.0 1.9 - 1889.2 41 Melrose 237.5 –4.3 248.5 160.7 1.9 - 11538.4 35 Smith & Nephew 1819.0 –47.0 1990.0 1424.5 1.6 29.0 15919.8 89 Auto Trader 589.0 +10.8 607.6 454.2 1.1 26.5 5421.8 73 Flutter Entertainment 8464.0 +28.0 9456.0 5525.0 2.4 36.1 6631.3 76 M&G 249.0 +9.8 249.6 202.6 - 4.2 6473.8 69 Smiths 1738.0 –2.0 1769.5 1378.0 2.6 49.5 6886.0 57 Aveva 5285.0 +75.0 5315.0 2962.0 0.8 148.3 8535.7 150 Frasers 490.0 +25.4 518.0 214.0 - 19.7 2556.1 148 International 802.0 +29.9 2160.0 766.8 11.0 4.8 2674.0 143 Smith WH 2420.0 +30.0 2654.0 1896.0 2.3 24.9 2784.4 34 Aviva 410.9 +3.1 438.8 352.3 7.3 7.1 16114.4 96 Fresnillo 675.0 +10.2 1027.5 539.6 3.2 33.2 4974.0 196 Mitchells & Butlers 416.5 +4.0 470.5 238.0 - 12.5 1787.6 68 Smurfit Kappa 2898.0 –40.0 3010.0 2096.0 3.0 - 6894.3 152 Babcock International 500.0 –68.2 646.6 416.7 5.9 12.7 2528.0 130 G4S 201.0 +4.3 234.3 168.3 4.8 80.4 3118.7 62 Mondi 1662.5 +13.0 1898.0 1510.5 4.1 9.6 8072.3 155 1258.0 +38.0 1260.0 716.0 1.1 36.6 2498.3 28 BAE Systems 643.2 –11.8 661.8 443.9 3.5 15.5 20620.8 169 6900.0 –450.0 7350.0 2800.0 2.2 34.4 2254.6 197 Moneysupermarket 328.4 –2.9 417.7 309.5 3.4 18.8 1762.2 142 Sophos 567.6 –3.4 577.0 298.2 0.7 437.3 2799.3 127 2723.0 –10.0 2962.0 2234.0 2.2 66.6 3158.9 179 293.4 +26.4 295.0 194.2 1.6 18.2 2024.5 177 Genus 3190.0 +30.0 3260.0 2178.0 0.8 268.1 2076.1 108 Morrison Supermarkets 181.7 +0.8 240.0 176.9 3.6 14.1 4369.8 19 Barclays 175.9 –1.2 192.5 136.2 4.0 16.4 30478.7 7 Glaxo Smith Kline 1668.6 –31.6 1846.0 1497.4 4.8 18.3 83703.9 70 Spirax-Sarco 9275.0 +90.0 9400.0 6655.0 1.1 31.0 6832.6 170 439.6 –2.4 476.0 387.4 3.4 15.9 2249.6 53 Barratt Developments 870.6 +71.2 870.6 552.8 3.2 12.0 8865.2 17 Glencore 233.9 +0.8 340.3 216.9 6.7 42.5 31172.2 32 SSE 1659.0 +57.0 1659.0 1008.0 5.9 9.9 17105.0 16 National Grid 1040.0 +17.2 1040.0 778.0 4.6 24.4 36486.0 131 Beazley 580.0 –21.0 628.0 504.5 2.1 24.7 3072.5 166 Units 968.0 +29.5 968.0 645.5 1.9 15.2 2309.8 133 SSP 673.0 +6.0 748.1 608.0 1.6 25.6 3010.7 48 Next 7128.0 +364.0 7340.0 4724.0 2.3 15.9 9477.7 92 4231.0 +199.0 4231.0 2698.0 3.4 9.7 5212.4 178 Grainger 331.4 +21.0 331.4 217.4 1.6 16.7 2029.1 29 Standard Chartered 635.2 –1.6 738.6 575.7 2.6 51.2 20302.3 60 Ocado 1166.5 –63.0 1435.0 886.2 - - 8294.7 72 Berkeley 5324.0 +202.0 5412.0 3437.0 0.5 13.3 6702.1 173 Greencoat UK 144.4 +0.2 155.0 133.4 4.3 - 2191.3 78 St James’s Place Capital 1188.0 +13.5 1199.5 913.6 4.1 42.4 6355.9 186 OneSavings Bank 438.2 +13.8 452.0 313.6 3.3 8.3 1951.9 6 BHP 1675.2 +1.6 2049.0 1600.0 4.8 12.8 84710.4 161 2340.0 +72.0 2476.0 1585.0 1.5 31.5 2367.1 65 Standard Life Aberdeen 325.6 +8.5 336.9 231.1 6.9 - 7607.4 106 Pearson 570.2 –14.2 927.0 556.4 3.2 9.9 4512.4 181 1201.0 +8.0 1201.0 933.0 2.8 12.4 2007.3 159 965.2 +27.8 965.2 649.4 1.3 42.7 2450.3 119 Tate & Lyle 785.8 –4.2 801.4 663.8 3.7 16.0 3680.5 97 Pennon 1173.5 +56.0 1173.5 697.8 3.5 21.2 4940.5 117 B&M European 380.5 +5.0 420.9 315.0 2.0 29.0 3807.2 98 GVC Holdings 836.6 –52.2 939.0 507.5 3.8 - 4875.2 64 Taylor Wimpey 231.8 +14.2 231.8 142.9 2.7 11.6 7611.2 126 Pershing Square 1558.0 –428.0 1587.5 1216.0 1.5 - 3174.3 200 892.5 +26.0 971.0 652.0 2.1 17.0 1708.8 59 Halma 2198.0 –17.0 2244.0 1496.0 0.7 46.3 8344.6 24 Tesco 255.8 +1.0 258.9 212.6 2.3 19.1 25051.8 44 Persimmon 3230.0 +187.0 3230.0 1836.0 7.3 11.6 10301.1 118 Boohoo 321.1 –1.0 333.7 169.5 - 74.5 3742.7 191 240.0 +17.1 388.4 203.9 10.8 - 1839.1 111 1696.0 +112.5 1696.0 1166.0 2.8 57.5 4276.4 85 Phoenix 795.3 +11.2 796.8 634.2 5.8 10.5 5738.2 5 BP 456.9 –13.1 582.5 452.7 7.3 24.1 92527.1 63 Hargreaves Lansdown 1689.5 +85.0 2433.0 1604.5 1.9 32.5 8013.6 151 Tritax Big Box Reit 148.8 +6.2 159.7 135.5 4.5 10.8 2540.0 167 Polar Capital Technology Trust 1726.0 +22.0 1726.0 1210.0 - - 2309.8 8 British American Tobacco 3347.0 –97.0 3507.0 2648.0 5.9 12.5 76776.5 160 Hays 165.0 +0.4 183.5 138.0 2.3 15.0 2420.9 90 Tui 897.4 +33.8 1081.5 698.0 7.1 14.3 5285.0 82 Polymetal International 1272.5 –3.0 1294.0 772.6 2.9 21.9 5983.7 88 British Land 587.8 +28.6 638.8 468.3 5.3 - 5447.0 122 HICL Infrastructure 180.8 +1.4 182.2 152.6 5.2 - 3369.5 189 UDG Healthcare 769.0 –6.5 832.5 551.0 1.7 41.3 1925.9 158 932.5 –9.0 1068.0 850.0 3.1 30.8 2480.9 105 Hikma Pharmaceuticals 1873.0 –39.0 2200.0 1556.5 1.6 16.0 4538.8 188 Primary Health Properties 159.4 –0.6 162.0 116.8 3.5 - 1938.8 2 Unilever 4605.5 –90.5 5324.0 3983.0 3.0 14.6 121044.1 36 BT 153.5 –1.4 233.0 153.0 10.0 7.0 15173.1 116 1346.0 +10.0 1777.0 1213.0 2.5 39.2 3884.4 15 Prudential 1476.5 +15.5 1506.0 966.9 3.3 14.5 38408.4 99 Unite Group 1338.0 +53.0 1338.0 875.0 2.2 14.9 4864.9 75 Bunzl 1935.0 –44.5 2551.0 1935.0 2.6 19.5 6517.0 107 Homeserve 1323.0 +2.0 1340.0 953.0 1.6 40.5 4427.2 174 QinetiQ 378.8 +0.6 383.8 267.0 1.7 17.1 2151.4 67 United Utilities 1012.0 +24.4 1028.0 759.0 4.0 19.0 6900.7 61 Burberry 1998.5 –16.5 2345.0 1695.0 2.1 23.1 8087.3 109 Howden Joinery 727.6 +20.6 728.4 478.8 1.6 22.4 4355.8 124 Quilter 172.9 +1.4 174.7 122.2 1.9 22.8 3289.0 183 2312.0 +6.0 2540.0 1845.0 2.6 21.6 2000.9 199 3125.0 +5.0 3195.0 2900.0 1.6 - 1713.7 3 HSBC 584.5 +3.2 680.6 551.8 7.1 11.2 118733.4 11 Reckitt Benckiser 6338.0 –162.0 6688.0 5767.0 2.7 19.8 44984.1 146 Virgin Money UK 187.6 +11.3 216.6 139.0 1.6 - 2695.1 176 Capital & Counties Properties 248.3 +8.0 270.5 184.9 0.6 - 2121.2 154 IG Group 676.6 +7.2 708.0 474.8 6.9 15.8 2499.6 136 Redrow 827.0 +57.0 827.0 533.0 3.7 9.0 2912.6 125 Vistry 1459.0 +61.0 1459.0 939.1 3.9 13.4 3176.9 156 149.7 +0.3 183.0 99.9 - 10.5 2498.0 134 IMI 1095.0 –34.5 1206.0 906.0 3.7 17.5 2980.7 13 Relx 2073.0 –14.0 2095.0 1606.0 2.0 26.9 40087.1 12 Vodafone 150.0 –3.0 165.2 123.3 5.3 - 40167.5 26 Carnival 3096.0 –18.0 4373.0 3044.0 5.3 8.5 21934.8 31 Imperial Brands 1825.0 –7.2 2713.5 1668.2 10.6 17.2 17271.9 171 Renewables Infrastructure 135.8 –0.2 139.2 115.4 5.8 - 2222.4 121 Weir 1380.5 –6.5 1814.0 1261.5 3.3 58.2 3583.9 113 Centrica 71.3 –13.9 138.8 64.6 16.8 - 4147.3 149 Inchcape 645.0 –2.5 720.0 545.5 4.2 50.0 2574.4 132 Renishaw 4142.0 +136.0 4638.0 3232.0 1.5 32.7 3014.9 77 Whitbread 4766.0 +147.0 5152.0 3988.0 2.1 20.0 6404.0 157 181.4 –1.5 321.0 176.0 8.1 11.6 2489.4 46 Informa 778.2 –22.6 892.0 700.0 2.8 32.4 9741.5 52 Rentokil Initial 491.7 –10.1 506.4 329.0 0.9 - 9093.2 185 229.5 +1.0 235.5 200.8 2.2 - 1985.7 172 Close Brothers 1457.0 +6.0 1663.0 1227.0 4.4 11.0 2204.6 54 Intercontinental Hotels 4779.0 –14.5 5738.0 4499.5 1.9 25.7 8699.4 81 Rightmove 687.6 –3.4 701.2 471.9 0.9 36.6 6031.1 102 4486.0 +271.0 4496.0 2880.0 - 13.8 4610.4 43 Coca Cola HBC 2840.0 +30.0 3074.0 2299.0 1.8 27.6 10320.0 91 Intermediate Capital 1816.0 +63.0 1816.0 999.0 2.5 25.7 5274.3 10 Rio Tinto 4197.0 +10.0 4976.5 3924.5 5.8 6.8 52731.1 144 Wood 402.2 +27.2 598.6 319.6 6.8 59.5 2754.8 18 Compass 1941.0 –10.0 2138.0 1665.0 2.0 27.8 30824.4 47 Intertek 5896.0 +30.0 6170.0 4643.0 1.7 32.9 9515.7 123 RIT Capital Partners 2100.0 +5.0 2185.0 1990.0 - - 3293.8 163 Workspace 1304.0 +67.0 1304.0 806.0 2.5 17.7 2356.9 175 1883.0 –37.0 1920.0 1049.0 1.6 26.3 2149.3 38 International Airlines Group 639.6 +29.8 671.0 413.5 4.3 6.8 12697.1 37 Rolls-Royce 677.2 –9.8 988.4 636.6 1.7 - 13076.7 39 WPP 977.2 +8.4 1077.5 801.0 6.1 17.5 12108.8 110 Convatec 216.0 +3.7 217.3 118.6 2.1 34.4 4284.4 145 International Public Partnerships 167.4 +1.6 171.2 146.8 4.2 15.7 2696.5 147 306.5 –0.3 341.2 269.8 1.9 29.5 2674.6 162 524.5 +17.5 524.5 277.6 2.4 14.1 2360.2 128 449.0 +15.0 518.6 395.3 5.5 9.4 3125.4 22 Royal Bank of Scotland 213.1 –9.8 270.4 177.6 2.6 12.9 25772.1 Price/earnings ratios are based on historic data, with yield and p/e values 182 Cranswick 3846.0 +192.0 3846.0 2472.0 1.5 27.1 2005.2 87 ITV 136.0 +1.4 156.5 103.6 5.9 12.2 5474.6 1 Royal Dutch Shell A 1924.0 –72.6 2612.0 1924.0 7.9 9.4 143457.1 calculated from the most recent reported dividends and earnings per share, 25 CRH 2977.0 –1.0 3100.0 2279.0 2.2 17.2 23437.7 115 IWG 455.5 +9.5 469.0 225.9 1.4 38.3 4020.4 Royal Dutch Shell B 1927.0 –59.0 2622.0 1927.0 7.9 9.5 using trailing 12-month figures. 52-week highs and lows are end of day. 74 Croda 5060.0 +5.0 5375.0 4564.0 1.8 27.6 6521.8 58 JD Sports 867.4 +32.4 881.4 449.4 0.2 32.7 8441.8 193 Royal Mail 181.2 +2.5 286.7 175.4 13.8 5.6 1812.5 nc = no change Data provided by Morningstar. Any enquiries please contact: 80 DCC 6252.0 +20.0 7496.0 6132.0 2.2 25.8 6151.8 198 John Laing 357.0 +8.0 402.0 345.6 1.5 11.4 1755.6 84 RSA Insurance 574.6 +8.6 597.0 501.6 3.7 22.7 5927.9 [email protected]