10 The Sunday Times September 1, 2019 BUSINESS

Andrew Lynch LETTERS

Direct Line’s culture and how Send your letters, including deals, do due diligence and our twilight years and looking Caring puts off post-nuptials bash Come, Geddes, to improve collaboration. SIGNALS full name and address, recommend investments. to downsize? Awkwardly, it turned out AND NOISE . . . to: The Sunday Times, The buck stops with him, of As life moves on and we Is there trouble in paradise However, an email from reign on Slough to be Geddes who didn’t 1 London Bridge Street, course, but I suspect many become households of one, for Richard Caring, the the couple that recently A heads-up to new always value collaboration London SE1 9GF. Or email people have let him down. the size of our homes is not so luxuriantly coiffed owner of landed in guests’ inboxes colleagues of Paul Geddes, among his senior team. [email protected] Woodford placed bets on important. Living closer to Mayfair nightspots such as suggests all is not well. the fiddle-playing former Good luck, Paul, and not Letters may be edited certain markets and amenities, our family and Annabel’s and Harry’s Bar? “Patricia and I are so very boss of FTSE 100 insurer just to your new colleagues. segments and they haven’t public transport moves to the The former rag trader sorry to inform you that due Direct Line. A conflict of interest for delivered — yet. To be top of the list. announced his engagement to circumstances beyond our Tomorrow, Geddes rolls the new CBI chief? castigated for investment in If Mr Javid did switch to Patricia Mondinni, a control (including the up at QA — no, we hadn’t Is Roger making Lord Bilimoria, a supplier of Eddie Stobart beggars belief, stamp duty to sellers — a plan Brazilian model half his age, changing weather patterns either, it’s something to do beer to Indian restaurants, because, given half a chance, he later denied — I could be with a lavish party featuring around the world), we have with education — for his first plans for Nigel? says they have difficulty all of us “investors” would looking at an additional cost the Latino singer Ricky been forced to delay our day as chief executive of the If the engineer Meggitt lands bringing in chefs from abroad probably have done the same of £10,000 when I move. Martin in December 2017. ‘Dominican Republic CVC private equity-owned in the FTSE 100, I suspect (“New CBI boss urges due diligence and bought in. How is that fair? They wed the following Celebration’,” wrote business in Slough. nobody will be happier than ministers to relax migrant As Luke Johnson said in As a woman born in 1954, March, and were planning Caring, 71. Earlier this year, Geddes, chairman Sir Nigel Rudd. pay rules”, last week). There one of his columns, “there’s I’m already being penalised: another extravaganza to “We look forward to 50, gave a frank interview to And an old mucker of the have been thousands of no disgrace for entrepreneurs I won’t receive my state mark their nuptials over four celebrating with you next the Chartered Management 72-year-old will surely be Indian restaurants in this in honest failure”. Similarly, pension until nine months days in the Dominican year, in what will now be an Institute about the time he ready to congratulate him The former prime minister country for many years. Do there is no disgrace in an after my 65th birthday Republic this November. even more spectacular commissioned a study into with a blue-chip welcome. David Cameron has united they have no training investor failing to deliver the because of changes made by fashion. New details will be Sir Roger Carr, chairman the nation on one issue — a schemes or apprenticeships? returns expected by clients. a previous cabinet. sent out in the very near of BAE Systems, who turned passion for souped-up Is this a clear case of a conflict Investors often want to pin Perhaps Mr Javid would JUST SAYING . . . future and we are working FUNNY BUSINESS around ailing companies shepherd’s huts of interest for the incoming the blame on one person like to consider a reduction hard to make them as with Rudd and Brian president of the CBI? when, in fact, myriad things in the stamp duty to actually compatible as possible.” McGowan at Williams in the HOME, PAGES 16-17 On the wider issue, this have conspired to make encourage downsizing. Some people Was global warming really 1980s and 1990s, has no illustrates one of the companies and/or funds Shelley Gorys, Medstead, to blame — or might there doubt been planning the problems of immigration: underperform. I look forward Hampshire think greed is have been a squall a little party for some time! TWITTER POLL some employers prefer to to the time when Mr good. But over closer to home? bring in immigrants rather Woodford tells why things Better the EU than distant Mondinni, 37, for whom Yes No than reduce unemployment didn’t go to plan this time. We control of our companies and over it’s Caring left his wife of 45 Surf’s up for by training British citizens. will all learn from that lesson. As last week’s article “Britain years in 2016, is known to Ian Snowden, Clitheroe, Alastair Waite, Osmotherley, for sale” said, Brexit was proven that, be somewhat demanding — ousted Flint 65% 35% Lancashire North Yorkshire billed as taking back control — ultimately, she once ordered the crew Days after his unexpected not handing over our public of his yacht, Silver Angel, to ousting, John Flint, 51, the Woodford has been let Downsizers could do with companies to foreign buyers generosity protect her from mosquitoes caring-and-sharing HSBC down, as well as investors help from the chancellor and private equity barons. with flyswatters during a trip chief, hit the Aegean. I feel for Neil Woodford, as I Sajid Javid recently said, What is the point of is better to the Maldives. The banker, family in tow, did for Luke Johnson when he when discussing potential recovering a nominal The Carings are said to was spotted having breakfast had his “issues” (“Woodford’s changes to stamp duty, that “sovereignty” from have burnt through several at the posh Sani Resort in worthless tech bets”, last he is a “low-tax guy”, and was regulation by our European party planners in the course Halkidiki, northern Greece. Was Bank of England week). The fund manager reported to be considering neighbours, but transferring of their Dominican Republic My man in the knotted governor Mark Carney made a lot of money in the making the seller pay rather our industries to ownership, preparations. handkerchief and rolled-up wrong to keep secret a past for many people. He than the buyer. It is control and disposal by Let’s hope there is one left trousers could not say if Flint meeting with Facebook decided to strike out on his admirable that the chancellor distant financiers and Paul Polman, former chief by the time next year’s bash achieved his long-held founder Mark Zuckerberg? own, probably recruiting a lot wants to help first-time governments? executive of Unilever finally arrives. ambition to learn to surf. @ST_Business of the same people he had buyers, but how about those David Ashton, Sheringham, trusted previously to find of us who are approaching Norfolk DATABANK INSIDE THE CITY BEN WOODS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR favour of subscriptions to to July, while New Zealand’s USD > GBP 2.1% 2.0% Sage sees products in the cloud. The Xero was up 36% to NZ$552m 7,800 CPI including housing current rate prev. month pace of change, however, has for the year to March. Xero’s $1.22 2.0% 1.9% tested investors’ patience. UK customer base also grew V 0.01 its sales Shares in the FTSE 100 by 48% to 463,000 over the 7,400 12-month high: $1.34 Retail prices index current rate prev. month low: $1.20 company are down 14% to period. Sage’s organic sales 2.8% 2.9% EURO evaporate 700p since July, when an growth remains in single 7,207.18 Average weekly earnings on prev. month on last year update revealed that software digits: up 6% to £1.4bn for the 112.20 H:7,727.5 7,000 EUR > GBP sales had fallen 16% to £195m nine months to June and 7% 1.58% L:6,536.5 £538 U0.3% U3.6% into cloud in the nine months to June. to £1.8bn last year. 6,600 €1.11 Unemployment current rate prev. month Sage has made progress There are also questions FTSE 250 W 0.00 2018 2019 12-month high: €1.18 1.33m 3.9% 3.8% As he waxed nostalgic about under Steve Hare. The same over whether that growth can low: €1.07 Source: Re initiv Manufacturing output on the year on last month his turnaround of American update showed that software be sustained. Sage was YEN tech giant IBM in the 1990s, subscriptions had grown by handed a one-off bump this RISERS FALLERS Intu: 40.8p U 16.9% on higher rent Amigo: 79.6p V 51.6% on new loans YEN > USD 0% U1.4% Lou Gerstner reflected on 28% to £752m over the same year when an influx of hopes NMC Health: £25.02 U 16% on warning Micro Focus: £11.09 V 29.3% Retail sales on the year on last month why some companies period — accounting for a customers signed up to its bidding war Stobart: 120.4p U 11.3% on cutting guidance Thomas Cook: 5.1p on Wizz Air deal Future: £11.86 U 10.4% V 26.8% on rescue agreement ¥106.24 U3.3% U0.2% succeed and others fail. substantial slice of Sage’s new software on the back of a 19,393.63 on market sentiment Melrose: 181p Nostrum Oil & Gas: 21.5p V 15.7% on U 0.85 “Longevity is the capacity £1.2bn recurring sales. government publicity drive 157.50 H:20,784.3 U 9.2% on sterling slides continuing woes Luceco: 69.2p 12-month high: ¥114.54 V 11.6% on sentiment low: ¥104.44 to change,” the former boss That is all well and good as for digitising tax returns. 0.82% L:17,054.7 UK trade latest 3 mths prev. 3 mths latest 12 mths said in 2014. “Companies that long as headline growth is It has also enjoyed a boost OIL balance (£bn) -4.3 -12.6 -42.8 have lasted 100 years . . . have outstripping the competition. from the Brexit-hit pound. DOLLARS/BARREL DOW JONES HANG SENG FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change changed 25 times, five times Sage, however, is starting to Overseas earnings have been 26,403.28 25,724.73 1,493.20 product or four times.” look like a straggler. worth more since the pound $59.25 V 0.2% U0.5% U1.2% 774.38 H:27,398.7 454.60 H:30,280.1 33.76 H:1,554.3 0.09 Sage is another tech Sales at America’s Intuit slumped. With about a third V Budget deficit latest month prev. month year-to-date 3.02% L:21,712.5 1.74% L:24,540.6 2.31% L:1,291.0 12-month high: $86.74 (PSNB) in £bn behemoth trying to reinvent (which is behind QuickBooks of sales coming from America low: $49.93 +1.3 -6.3 -16.0 itself before it’s dragged into in the UK) grew by 13% to and 15% from France, Sage NASDAQ SHANGHAI SENSEX GOLD the corporate graveyard. $6.8bn (£5.6bn) for the year has been a net beneficiary of 7,962.88 2,886.24 37,332.79 DOLLARS/TROY OZ Founded in 1981, the Britain’s currency wobbles. 211.12 H:8,339.6 11.19 H:3,288.5 631.63 H:40,312.1 Newcastle company has Sage Analysts at Panmure 2.72% L:6,190.2 0.39% L:2,440.9 1.72% L:33,291.6 $1,529.31 10-YEAR BOND YIELDS % grown from a poky operation Gordon said the company’s V 4.85 selling accountancy software 800p adjusted earnings per share S&P 500 CAC 40 ALL ORDS 12-month high: $1,539.04 variation 12 months into Britain’s biggest listed would be 7% below where 2,926.46 5,480.48 6,698.20 low: $1,182.49 high low tech company, with a market 700 they were three years ago if 79.35 H:3,028.0 153.61 H:5,672.8 83.90 H:6,958.7 BITCOIN 2.79% L:2,346.6 1.27% L:5,478.4 UK 0.48 V 0.02 1.75 0.41 value of £7.6bn. The rise of the pound were stronger. 2.88% L:4,556.0 DOLLARS cloud computing, however, is 600 With competitors snapping at NIKKEI DAX S&P TSX US 1.52 V 0.03 3.26 1.44 threatening its existence. its heels and the transition to 20,704.37 11,939.28 16,442.07 $9,620.13 Sage is trying to wean itself 500 the cloud far from over, Sage V 435.06 JAPAN -0.27 V 0.04 0.17 -0.29 6.54 H:24,448.1 327.77 H:12,656.1 404.49 H:16,672.7 12-month high: $13,796.49 off selling outdated offline 2018 2019 looks like it is in for a bumpy 0.03% L:18,948.6 2.82% L:10,279.2 2.52% L:13,776.9 low: $3,191.30 Price at 5pm Saturday GERMANY -0.70 V 0.03 0.58 -0.73 accountancy software in Source: Re initiv ride. Avoid.

TOP 200 COMPANIES

Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Yield P/E Yield P/E Yield P/E Yield P/E V on week high low (£m) V on week high low (£m) V on week high low (£m) V on week high low (£m) 40 3i Group 1097.4 +10.9 1164.5 756.2 3.2 - 10677.1 118 Derwent London 3184.0 +26.0 3328.0 2761.0 2.1 16.2 3555.3 76 Johnson Matthey 2910.0 +104.0 3673.0 2620.0 2.8 13.6 5631.8 162 Royal Mail 206.1 +5.1 489.0 188.4 11.8 11.8 2061.0 150 3i Infrastructure 299.0 –0.5 303.0 240.3 3.1 - 2423.2 8 Diageo 3503.5 +85.5 3526.0 2523.5 1.9 26.9 82905.8 198 Jupiter Fund Management 341.7 +0.4 432.0 287.6 5.0 11.8 1564.0 80 RSA Insurance 523.4 –7.6 637.6 496.6 4.0 20.7 5398.9 66 Admiral 2147.0 –10.0 2300.0 1932.5 4.2 15.5 6246.7 183 Diploma 1585.0 +36.0 1634.0 1150.0 1.6 31.1 1794.8 81 Just Eat 785.8 +13.6 812.0 533.8 - 135.5 5360.6 56 Sage 700.6 +13.0 820.4 525.6 2.4 24.4 7613.5 168 Aggreko 766.2 –6.6 876.6 691.8 3.5 15.8 1962.4 104 Direct Line Insurance 283.1 –4.6 366.5 283.1 7.4 9.1 3892.6 173 Kaz Minerals 402.8 +7.3 738.4 385.4 2.4 5.1 1898.4 100 Sainsbury, J 196.1 –0.7 326.2 177.1 5.2 22.0 4337.8 141 Alliance 798.0 +11.0 838.0 672.0 1.8 - 2633.1 186 Dunelm 876.0 +4.5 981.0 482.8 3.0 21.1 1769.3 102 Kingfisher 194.4 +3.8 274.3 188.0 5.6 19.1 4103.1 58 Schroders 2730.0 +92.0 3210.0 2334.0 4.2 16.4 7410.1 20 Anglo American 1774.2 +107.6 2266.0 1464.6 4.4 7.1 24525.8 108 EasyJet 963.4 +27.6 1538.0 854.8 6.1 19.8 3826.7 75 Land Securities 775.4 +15.6 936.0 735.4 6.3 - 5749.3 59 Schroders N/V 2195.0 –5.0 2590.0 1962.0 5.2 13.2 7410.1 50 Antofagasta 866.0 +54.0 1022.5 727.2 3.9 17.6 8537.5 143 Electrocomponents 581.0 +11.2 749.4 480.0 2.3 17.5 2588.6 36 Legal & General 219.6 –2.1 291.2 216.7 7.5 7.0 13098.0 55 Scottish Mortgage 520.0 +9.0 568.5 441.4 0.6 - 7720.9 125 Ashmore 451.2 –14.8 542.5 341.2 3.7 22.4 3215.9 134 Entertainment One 585.0 nc 589.0 336.4 0.2 117.0 2910.8 15 Lloyds Banking Group 49.8 –0.2 66.6 48.6 6.4 9.4 34956.4 49 Segro 785.0 +12.2 789.0 585.2 2.4 9.1 8582.5 41 Ashtead 2271.0 +124.0 2438.0 1586.5 1.5 13.7 10479.8 60 Evraz 496.3 +14.8 709.4 442.1 16.8 5.7 7205.8 21 London Stock Exchange 6954.0 +122.0 7058.0 3867.0 0.9 51.2 24318.3 185 Serco 145.9 +4.9 147.4 84.1 - 32.1 1784.9 29 Associated British Foods 2271.0 –7.0 2638.0 2041.0 2.0 19.6 17978.9 23 Experian 2518.0 +3.0 2565.0 1728.5 1.4 43.2 22929.9 146 Man 166.6 –2.2 183.0 126.8 5.5 11.6 2554.2 84 Severn Trent 2071.0 +41.0 2153.0 1770.0 4.3 15.6 4926.3 193 Assura 69.3 +1.1 69.9 52.4 3.9 19.8 1667.4 109 F&C Investment Trust 702.0 +8.0 737.0 616.0 1.6 - 3811.7 112 Marks & Spencer 192.2 +5.6 299.1 180.4 9.2 96.4 3749.0 96 Smith (DS) 340.0 +15.8 494.0 292.2 4.4 377.8 4664.6 5 Astra Zeneca 7318.0 +5.0 7412.0 5325.0 3.0 54.2 96003.1 35 Ferguson 6044.0 +60.0 6556.0 4749.0 2.4 20.0 13846.7 148 Mediclinic International 339.4 +20.7 498.7 293.4 2.3 - 2502.1 31 Smith & Nephew 1965.0 +32.0 1968.0 1258.0 1.4 31.4 17184.6 86 Auto Trader 531.6 +6.6 606.0 388.5 1.1 25.4 4924.6 179 Finsbury Growth & Income 934.0 +15.0 956.0 740.0 1.6 - 1849.9 89 Meggitt 619.0 +1.8 621.8 458.0 2.7 33.5 4809.4 63 Smiths 1669.5 +86.0 1669.5 1279.5 2.7 22.8 6610.5 72 Aveva 3700.0 –152.0 4170.0 2284.0 1.1 177.0 5971.2 197 First Group 130.0 +2.3 130.0 79.3 - - 1579.6 47 Melrose 180.9 +15.2 230.0 146.3 2.4 - 8791.0 159 Smith WH 1958.0 –29.0 2186.0 1697.0 2.8 23.3 2112.1 34 Aviva 354.1 –7.3 497.0 353.5 8.5 6.1 13869.7 82 Flutter Entertainment 6766.0 +46.0 7290.0 5525.0 3.0 28.8 5291.0 196 Mercantile Investment Trust 201.1 +0.1 217.1 168.0 3.1 - 1591.6 69 Smurfit Kappa 2536.0 +124.0 3230.0 1934.0 3.4 - 6027.5 147 Babcock International 501.6 +3.8 729.6 416.7 5.9 12.7 2536.1 79 Fresnillo 740.4 +56.0 1027.5 601.0 2.9 36.4 5456.0 97 Merlin Entertainments 451.7 –0.3 453.4 307.1 1.8 20.9 4625.7 161 Softcat 1040.0 +50.5 1040.0 565.0 1.2 32.9 2061.8 30 BAE Systems 545.6 +4.4 636.2 443.9 4.1 13.2 17478.0 139 G4S 173.9 +5.5 250.0 168.3 5.6 69.6 2698.2 111 Micro Focus International 1108.8 –460.4 2160.0 1051.4 7.9 6.6 3760.9 177 Sophos 383.3 –9.7 529.5 298.2 1.0 92.5 1863.3 22 Barclays 136.6 –1.4 181.0 136.2 4.8 7.6 23559.7 190 Genus 2630.0 +44.0 2884.0 2098.0 1.0 - 1711.0 155 Millennium & Copthorne Hotels 680.0 –5.0 685.0 436.0 0.6 60.2 2209.2 140 Spectris 2311.0 +22.0 2898.0 1966.5 2.6 56.5 2679.3 73 Spirax-Sarco 8025.0 +150.0 9400.0 5900.0 1.2 26.8 5911.8 65 Barratt Developments 632.4 –3.6 663.0 434.0 4.2 8.9 6437.4 7 Glaxo Smith Kline 1711.6 +20.4 1730.0 1418.0 4.7 19.3 85381.9 54 Mondi 1597.0 +20.5 2170.0 1510.5 4.2 9.2 7754.3 121 BBA Aviation 321.0 +15.2 324.8 207.0 3.4 40.9 3321.0 17 Glencore 236.9 +11.4 341.5 222.1 6.6 43.1 32130.7 38 SSE 1151.0 +27.0 1268.5 1008.0 8.3 8.5 11754.6 166 Moneysupermarket 373.5 +5.9 417.7 264.0 3.0 21.3 2003.6 174 BCA Marketplace 241.6 nc 247.0 178.5 3.7 28.1 1895.0 182 Grafton Group Units 752.5 +35.5 937.0 630.0 2.2 11.9 1795.3 128 SSP 707.0 nc 779.8 642.0 1.5 26.9 3145.1 165 Monks Investment Trust 920.0 +11.0 964.0 710.0 0.2 - 2013.6 132 Beazley 569.5 –21.0 599.0 492.6 2.1 24.2 3016.1 158 Greencoat UK 139.8 +0.8 143.2 124.4 5.0 - 2121.1 28 Standard Chartered 622.0 +7.6 736.8 519.8 2.7 50.1 19961.6 99 Morrison Supermarkets 182.6 +0.8 267.1 176.9 3.4 18.1 4382.2 117 Bellway 2901.0 +12.0 3226.0 2419.0 4.9 6.6 3573.1 142 Greene King 841.2 +0.2 850.0 475.0 4.0 21.7 2607.8 88 St James’s Place Capital 917.8 –15.2 1154.5 914.0 5.2 32.8 4882.8 156 National Express 424.4 –2.6 438.4 361.4 3.5 15.4 2171.8 85 Berkeley 3917.0 –52.0 3981.0 3226.0 1.0 8.3 4925.5 157 Greggs 2114.0 +129.0 2476.0 1006.0 1.7 28.4 2138.4 71 Standard Life Aberdeen 249.3 +8.6 370.9 224.9 9.1 - 5985.5 18 National Grid 858.5 +5.5 889.2 748.7 5.4 19.5 29879.6 6 BHP 1773.0 +92.6 2049.0 1490.6 5.3 13.6 89660.6 180 Great Portland Estates 696.2 +7.8 773.6 649.4 1.7 40.7 1828.2 120 Tate & Lyle 719.4 +27.2 800.4 633.4 4.0 18.6 3369.5 53 Next 5936.0 +170.0 6064.0 3991.0 2.7 13.7 7908.5 184 Big Yellow Group 1070.0 +40.0 1070.0 852.5 3.0 13.7 1786.9 115 GVC Holdings 629.0 +19.2 1105.0 507.5 5.1 - 3660.3 91 Taylor Wimpey 145.9 –1.1 192.2 129.3 4.3 7.3 4786.9 83 NMC Health 2502.0 +345.0 3954.0 1801.5 0.7 24.7 5223.4 116 B&M European 357.8 +2.8 426.3 278.6 2.1 17.5 3580.0 57 Halma 1963.0 +3.5 2094.0 1237.0 0.8 43.8 7452.4 172 Templeton Emerging Markets 774.4 +15.4 829.0 649.0 2.1 - 1910.9 44 Ocado 1295.5 +95.5 1435.0 749.8 - - 9159.0 4 BP 500.2 +12.2 598.3 485.9 6.4 14.6 101921.8 189 Hammerson 227.0 –0.5 471.1 203.9 11.4 - 1739.5 26 Tesco 219.2 +6.6 253.0 189.6 1.7 16.2 21467.3 64 Pearson 831.4 +13.4 1027.5 769.2 2.2 14.5 6499.6 10 British American Tobacco 2880.0 –81.0 3763.0 2375.0 6.9 10.7 66061.6 45 Hargreaves Lansdown 1878.0 –11.0 2433.0 1633.0 1.7 37.0 8907.7 127 Travis Perkins 1250.5 +6.5 1465.0 970.0 3.8 42.4 3153.1 126 Pennon 755.2 +28.2 792.8 684.2 5.2 14.8 3176.3 92 British Land 509.8 +13.0 635.6 468.3 6.0 - 4745.9 163 Hays 140.0 –4.0 212.0 135.7 2.7 11.9 2042.3 151 Tritax Big Box Reit 140.1 +1.3 159.7 129.0 4.8 10.1 2391.5 123 Pershing Square Holdings 1524.9 +14.7 1524.9 1030.8 2.2 - 3262.1 154 Britvic 867.5 +8.5 956.0 745.0 3.2 19.5 2302.8 131 HICL Infrastructure 169.4 +2.0 170.1 149.9 4.9 - 3034.2 90 Tui 817.0 +13.2 1474.0 698.0 7.9 9.7 4803.1 67 Persimmon 1902.5 –7.0 2471.0 1836.0 12.4 6.8 6060.0 32 BT 165.6 +6.7 264.6 158.9 9.2 7.7 16368.8 87 Hikma Pharmaceuticals 2017.0 –16.0 2064.0 1510.5 1.5 17.2 4886.8 135 Tullow Oil 204.3 –2.6 266.3 165.1 1.9 28.0 2867.6 62 Bunzl 2013.0 –20.0 2551.0 1978.5 2.5 20.3 6778.6 98 Hiscox 1550.0 –30.0 1777.0 1418.0 2.1 45.1 4468.7 94 Phoenix Group Holdings 647.0 +7.4 724.8 544.0 7.1 8.5 4667.7 169 UDG Healthcare 785.0 –17.5 821.0 551.0 1.6 98.8 1956.4 46 Burberry 2164.0 +29.0 2345.0 1623.5 1.9 26.5 8904.1 107 Homeserve 1148.0 +48.0 1263.0 849.0 1.7 35.5 3841.2 176 Polar Capital Technology Trust 1396.0 +2.0 1500.0 1066.0 - - 1868.2 2 Unilever 5196.0 +186.0 5196.0 3931.0 2.7 16.5 136563.9 192 Caledonia Investments 3040.0 –10.0 3110.0 2650.0 1.9 - 1669.6 124 Howden Joinery 538.2 –1.2 573.4 416.4 2.2 16.6 3225.7 77 Polymetal International 1183.0 +67.0 1183.0 597.2 3.1 20.4 5562.3 130 Unite Group 1047.0 –2.0 1076.0 797.5 2.8 11.6 3039.8 187 Capital & Counties Properties 204.8 +4.2 279.5 184.9 0.7 - 1743.4 3 HSBC 591.4 +5.0 682.0 580.9 6.8 10.9 119481.3 14 Prudential 1368.0 +5.5 1814.5 1326.0 3.6 13.6 35565.4 78 United Utilities 814.0 +26.8 873.6 682.4 4.9 15.3 5550.6 160 Capita 125.8 +4.2 150.2 99.9 - 8.8 2098.3 167 IG Group 539.8 –4.8 915.0 474.8 8.6 12.6 1994.2 195 QinetiQ 288.6 +4.6 312.4 267.0 2.2 14.4 1639.1 181 Victrex 2078.0 +123.0 3408.0 1845.0 2.9 18.1 1796.2 19 Carnival 3448.0 +14.0 5000.0 3366.0 4.6 10.2 24577.6 137 IMI 1005.0 +46.0 1214.0 870.0 4.0 16.1 2734.6 152 Quilter 124.9 –0.9 156.6 110.6 2.6 16.4 2375.9 12 Vodafone 155.2 +4.9 170.9 123.3 8.4 - 41553.7 191 Centamin 145.1 +4.2 152.4 79.8 3.0 40.2 1677.3 27 Imperial Brands 2124.5 +69.5 2750.0 1846.8 8.8 13.1 20258.9 11 Reckitt Benckiser 6399.0 +293.0 7155.0 5593.0 2.7 19.9 45372.7 110 Weir 1464.5 +113.5 1886.0 1240.0 3.2 61.8 3801.9 103 Centrica 69.7 +4.2 155.6 64.6 17.2 - 4054.6 153 Inchcape 578.0 +5.0 695.5 486.6 4.6 44.8 2349.7 171 Redrow 552.0 –14.0 674.6 483.8 5.3 6.0 1944.1 194 Wetherspoon JD 1579.0 –36.0 1615.0 1066.0 0.8 26.3 1659.5 133 Cineworld 218.4 –10.7 323.6 212.0 6.7 14.0 2996.0 39 Informa 870.0 +12.8 892.0 605.8 2.5 36.2 10890.7 13 Relx 1966.5 +40.5 1978.0 1491.5 2.1 25.5 38231.3 74 Whitbread 4373.0 +97.0 5114.0 4086.0 2.3 18.4 5846.0 200 City of London Investment Trust 409.0 +6.0 431.5 376.0 4.6 - 1557.2 136 Inmarsat 604.0 +21.6 604.0 362.8 2.6 26.5 2800.0 175 Renewables Infrastructure 130.0 +2.2 133.2 109.6 5.1 - 1880.2 199 William Hill 178.2 +14.6 265.5 132.3 6.7 63.6 1557.7 170 Close Brothers 1289.0 +4.0 1660.0 1227.0 4.9 9.7 1951.5 43 InterContinental Hotels 5125.0 +16.0 5738.0 4155.8 1.8 27.5 9329.2 144 Renishaw 3550.0 –10.0 5520.0 3368.0 1.7 28.0 2584.0 178 Witan Investment Trust 211.9 +3.3 225.6 189.6 2.3 - 1850.2 106 Cobham 161.5 –0.6 168.3 96.8 - - 3861.5 105 Intermediate Capital 1336.0 –15.0 1429.0 899.0 2.3 21.1 3879.4 52 Rentokil Initial 450.2 +6.3 458.6 284.8 1.0 - 8325.7 114 Wizz Air 3596.0 +43.0 3769.0 2329.0 - 10.8 3690.2 42 Coca-Cola HBC 2730.0 +62.0 3074.0 2244.0 1.9 26.5 9911.6 48 Intertek 5428.0 +64.0 5962.0 4387.0 1.8 30.3 8760.4 93 Rightmove 535.5 +7.6 585.1 420.9 1.2 28.5 4740.2 145 Wood 376.9 –14.3 796.4 360.2 7.3 55.8 2568.7 16 Compass 2083.0 +33.0 2110.0 1483.0 1.8 28.2 33044.0 51 International Airlines Group 421.7 +1.9 700.0 413.5 6.6 4.3 8367.9 9 Rio Tinto 4149.5 +225.0 4976.5 3486.0 5.8 6.7 70092.1 37 WPP 970.2 +18.0 1278.5 800.4 6.2 17.4 12243.0 119 Convatec 174.4 –2.1 239.0 118.6 2.6 27.7 3447.5 149 International Public Partnerships 164.6 –0.6 165.4 146.8 4.2 16.9 2444.8 122 RIT Capital Partners 2120.0 +25.0 2150.0 1892.0 - - 3293.4 25 CRH 2737.0 +93.0 2737.0 1971.5 2.3 15.8 21814.6 101 Investec 422.4 +11.0 561.0 400.7 5.8 8.3 4161.9 33 Rolls-Royce 771.2 +21.2 1009.5 730.0 1.5 - 14807.1 Price/earnings ratios are based on historic data, with yield and p/e values 68 Croda 4702.0 +122.0 5447.7 4564.0 1.9 25.7 6049.5 95 ITV 115.9 +1.0 162.3 103.6 6.9 10.4 4667.5 138 Rotork 309.6 +5.3 342.8 235.7 1.9 29.8 2700.0 calculated from the most recent reported dividends and earnings per share, 164 CYBG 141.2 +2.2 337.4 132.7 2.2 - 2024.9 113 IWG 417.2 +10.1 421.9 199.8 1.5 35.1 3727.2 24 Royal Bank of Scotland 185.4 +2.5 270.4 177.6 3.0 8.1 22423.2 using trailing 12-month figures. 52-week highs and lows are end of day. 61 DCC 6984.0 +202.0 7390.0 5555.0 1.8 25.0 6868.5 70 JD Sports 617.0 +16.2 649.8 318.5 0.3 22.9 6004.9 1 Royal Dutch Shell A 2275.5 +9.0 2666.0 2213.0 6.5 11.7 182686.1 nc = no change Data provided by Morningstar. Any enquiries please contact: 129 Dechra Pharmaceuticals 3000.0 +14.0 3120.0 2014.0 0.9 128.0 3079.6 188 John Laing 353.8 +0.8 402.0 296.2 1.5 11.3 1739.9 Royal Dutch Shell B 2265.0 +13.0 2705.5 2227.0 6.6 11.6 [email protected]