10 The Sunday Times October 14, 2018 BUSINESS

Liam Kelly LETTERS

see the ninth in line to the It makes you wonder what Send your letters, including Shell’s corporate structure week) he is a bad judge of Gold mine boss digs in with Bannon throne tie the knot with the his usual social engagements SIGNALS full name and address, is not like Unilever’s character. Trump will have to upper-crust tequila peddler are like. AND NOISE . . . to: The Sunday Times, In your article on Unilever wait until hell freezes over John Thornton, chairman of think tank in Washington. Jack Brooksbank. 1 London Bridge Street, (“Bitter legacy of the Marmite before he hears from Xi. the London-listed Canadian So friends were astonished Henderson, 53, London SE1 9GF. Or email CEO”, last week), you persist As Trump initiated the miner Barrick Gold, used to to open this newspaper last presumably got the nod Moneypenny’s [email protected] in reporting Shell as being tariff war, it is he who will be something of a leftie. weekend and see a picture of having worked for Eugenie’s Letters may be edited dual-structured, the have to call it off when he has Back in 2000, when he him having lunch with Nigel parents, Prince Andrew and visible hand implication being that it is had enough — or his was at Goldman Sachs, Farage and the Pied Piper of Sarah Ferguson, for years. Heather McGregor, executive Trade in cars in Europe is similar to Unilever. It is not. successor. Xi has all the Thornton helped to raise the alt-right, Steve Bannon Sitting across the aisle dean of Edinburgh Business far from one-way traffic It was incorporated as financial and economic money for the former New (also ex-Goldman). from the spin doctor was School (EBS), recently David Smith, in his Economic Royal Dutch Shell some years weapons to wage a protracted York Knicks basketball player Thornton, 64, was among property tycoon Nick Candy, completed a labour of love: Outlook column last week, back, incorporated in trade war. He could decide to Bill Bradley, who ran for the a group pictured at Brown’s while Telegraph honcho renovation of Adam Smith’s tells of the pitfalls that could London and managed from accelerate his 2025 “Made in Democratic presidential in Mayfair, where Mischaël Aidan Barclay and posh final home. await the British economy if the Netherlands. It has two China” target to 2023. nomination against Modrikamen, the leader of jeweller Theo Fennell were Between 1779 and 1790, “Britain owes its there is a no-deal Brexit. classes of share to get around However, Xi may not wish Al Gore (unsuccessfully). a small populist party in also in attendance. the godfather of free-market pre-eminence as a financial His statement that “as a the Dutch withholding tax. to embarrass his friend The banker, who left Belgium, agreed to form a There were 800 guests at thinking lived in Panmure centre to the combination of way of killing the car It thus keeps its place in the Trump, who has his personal, Goldman after missing out “movement” with Bannon to the wedding but Henderson House, at the farthest end a strong legal system, which industry, no deal would be FTSE 100 and has but one domestic and global on the top job, still sits on help like-minded political tells Prufrock it was of the Royal Mile from stops people stealing your hard to beat” is quite true, holding company. problems. Trump is full of the board of the Brookings parties in Europe apply the “charming”, “low-key” and the castle. money, with a weak but there are two sides to the Had that been proposed by Trumpian hubris, but he may Institution, the left-leaning ideas that swept Donald “like any family wedding”. For decades, Panmure regulatory one, which allows car-making story. Unilever it would probably, have met his nemesis in Xi. Trump to power in America. House languished in you to steal other people’s.” Each year, Germany and I think, have been accepted Everyone knows you should “It’s just extraordinary,” disrepair. When she arrived John Arlidge reviews The France sell about 650,000 by those British funds that not threaten your banker. JUST SAYING . . . says someone who used to FUNNY BUSINESS at EBS in 2016, McGregor Finance Curse cars to the UK, which is the scuppered Unilever’s plans. Robert Lim, London SW11 deal with the Barrick boss. (aka Mrs Moneypenny) most profitable car market in George Miller,via We need to teach A source close to Thornton discovered the school had CULTURE, PAGE 44 the world. After Brexit, will thesundaytimes.co.uk Where are the women says he was there in a social owned the property for France and Germany stop on Fast Track? everyone the guise and has no plans to several years but had not exporting cars to the UK? At last, some radical In Napoleon Hill’s 1937 book enter European politics. raised enough money to TWITTER POLL I don’t think so. thinking on Brexit Think and Grow Rich, all the lessons we’ve Barrick shareholders — restore it. She and Keith If we cannot sell our cars The Adam Smith Institute’s references to men — great learnt . . . If I’m and Europe — can breathe Lumsden, EBS’s founder, Yes No abroad it is because they are idea of auctioning off work men, wealthy men, men who a sigh of relief. raised £6m from donors not competitive in price or permits to potential achieved, and so on — are deported, I won’t including the Hong Kong quality, or both. employers is almost the first striking. How different things be able to do that. banking tycoon Sir David Li 38% 62% The EU has completed a piece of “outside-the-box” are now, I thought. A very Bell to finish the project. trade deal with Japan and is thinking I have read about Reading last week’s Top But you still “The real reason this cost negotiating one with the during the Brexit process. If Track 250, I looked for female Pottinger affair so much is because we had to United States. Why can’t it do we could do more of this leaders. I counted 12 female could James Henderson is excavate an entire floor,” a trade deal with the UK? then, like mobile phone band chief executives and only gradually re-entering polite McGregor, 56, said. The answer is that any licences, we might get some 22 women founders, society — as well as attending “Amazingly, Adam Smith trade deal that turns out to be revenues from the process. chairwomen or managing Princess Eugenie’s wedding. didn’t have access to mains beneficial to the UK could Jon Gatward, Plymouth directors. In fact, 95% of the The former boss of PR sewerage or water — or wi-fi.” cause a number of EU businesses are led by men. firm Bell Pottinger, which The effort is especially After steep losses on the member states to consider Donald Trump may have We haven’t come very far, Convicted trader facing collapsed last year amid touching when one recalls FTSE 100 and S&P 500, are leaving the union — and met his match in Xi have we? Should future Fast deportation Kweku Adoboli accusations of stirring race that Smith lectured at rival we are about to see a big Jean-Claude Juncker and If Irwin Stelzer really believes Track surveys track diversity in a letter in The Times to hate in South Africa, was at Glasgow University for years. correction in share prices? Donald Tusk could not Xi Jinping will sue for peace as well as profit and sales? his UBS boss, Ossie Grübel Windsor Castle on Friday to [email protected] @ST_Business contemplate that possibility. in Donald Trump’s tariff war, Claire Beasley, Freshwater, James Macintyre, Linlithgow (American Account, last Isle of Wight DATABANK INSIDE THE CITY SABAH MEDDINGS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR 2.7% 2.5% executive, would be replaced suggesting shareholders are USD > GBP Time to by his protégé, finance fearful about its 7,800 CPI including housing current rate prev. month director Nick Read. sustainability. 7,600 $1.32 2.4% 2.3% In July, concerns over Italy is awaiting EU W 0.00 Retail prices index current rate prev. month get back and Spain, where trading has approval for its €18bn 12-month high: $1.44 7,400 low: $1.27 been weak, dragged shares acquisition of Liberty Global’s 3.5% 3.2% EURO together down. Vodafone has been German and east European 6,995.91 7,200 Average weekly earnings on prev. month on last year fighting the entrance of a low- cable networks, propelling it 322.63 H:7,903.5 EUR > GBP cost rival, Iliad, in Italy, and in into a cable and broadband 4.41% L:6,866.9 7,000 £520 U0.4% U2.6% Unemployment current rate prev. month with Voda Spain it has been hit by TV giant. 6,800 €1.14 competitor MasMovil. The City is suggesting that FTSE 250 W 0.00 2017 2018 12-month high: €1.16 1.36m 4.0% 4.0% If Vodafone had called to sell Further jitters were the pendulum has swung too low: €1.10 shares at the beginning of the triggered this month when far. Analysts at Citigroup Source: Thomson Reuters Manufacturing output on the year on last month YEN year, there could have been Read, in his first week as boss, argue that there is no RISERS FALLERS YEN > USD U1.3% V 0.2% only one response: hang up. was forced to sign a €2.4bn imminent risk to the Lonmin: 54p, U 16.1% on mining rally Keller: 659p, V 35.4% on profit warning TI Fluid Systems: 192p, V 20% on Retail sales on the year on last month It wasn’t looking good. The (£2.1bn) cheque to buy dividend. Meanwhile, Centamin: 101.3p, U 13.2% on analyst note Fresnillo: 876.4p, U 10.3% on institutional sell-off Man Group: 140.4p, ¥112.17 telecoms giant was under spectrum for his Italian analysts at Redburn argue broker upgrade Polymetal V 17% on mixed performance Hays: U3.3% U 0.3% 18,973.45 V 1.53 157.9p, V 16.2% on currency headwinds pressure after having to business. Vodafone had given that while its full-year target 944.58 H:21,371.5 International: 665.2p, U 10% on silver 12-month high: ¥114.72 deposit upgrade Greggs: £11.25, Countryside Properties: 277.8p, low: ¥104.55 splash out in auctions for guidance that it would spend for underlying earnings for 4.74% L:18,827.8 U 9.5% on sales boost V 15.1% on new target price UK trade latest 3 mths prev. 3 mths latest 12 mths spectrum — the right to use about €1.2bn a year on the year to next March has OIL balance (£bn) -2.8 -7.5 -15.1 the airwaves — and it was in spectrum, so there was a fallen from €14.6bn to DOLLARS/BARREL DOW JONES HANG SENG FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change talks to buy cable assets in sharp intake of breath when €13.9bn, a 5% downgrade, it 25,339.99 25,801.49 1,410.10 product Europe. Both stoked fears the higher figure was is hardly a terminal decline. $84.16 U0.4% U0.1% U1.2% 1,107.06 H:26,951.8 771.08 H:33,484.1 68.31 H:1,588.0 over the company’s ability to announced. Investors grew Read is confident that V 3.73 Budget deficit latest month prev. month year-to-date 4.19% L:22,821.1 2.90% L:25,125.2 4.62% L:1,410.1 12-month high: $86.74 (PSNB) in £bn sustain dividend growth. worried about their lucrative Vodafone will be able to hit its low: $55.88 -6.8 +3.1 -17.7 Investors acted accordingly dividend. Vodafone has a €17bn free cashflow target NASDAQ SHANGHAI SENSEX GOLD and shares have fallen more yield of more than 8%, over the next three years — 7,496.89 2,606.91 34,733.58 DOLLARS/TROY OZ than 35% since January. plenty of cash for its dividend 291.55 H:8,133.3 214.44 H:3,587.0 356.59 H:38,989.7 However, there are signs Vodafone of about €4bn. 3.74% L:6,517.9 7.60% L:2,536.7 1.04% L:31,813.7 $1,218.88 10-YEAR BOND YIELDS % that Vodafone has dropped Today, Vodafone is trading U 16.90 below its fair value — despite 250p at a discount to its European S&P 500 CAC 40 ALL ORDS 12-month high: $1,359.26 variation 12 months the risks. Some analysts are peers, where traditionally it 2,767.13 5,095.98 6,006.60 low: $1,179.16 high low 118.44 H:2,940.9 294.50 H:6,481.3 questioning why there has has enjoyed a premium. 263.38 H:5,657.4 BITCOIN UK 1.64 V 0.07 1.79 1.10 been a £22bn-plus reduction 200 There are signs it has reached 4.10% L:2,532.7 4.91% L:5,038.1 4.67% L:5,834.0 DOLLARS in Vodafone’s market cap. the bottom of its trough. With NIKKEI DAX S&P TSX US 3.17 V 0.07 3.26 2.27 So what has all the fuss the shares closing on Friday 22,694.66 11,523.81 15,414.29 $6,285.27 150 V 314.48 JAPAN 0.15 W 0.00 0.17 0.02 been about? First, there was at 151p, the risks are more 1,089.06 H:24,448.1 531.88 H:16,586.5 2017 2018 588.09 H:13,596.9 12-month high: $19,497.40 the announcement in May than priced in. Buy. 4.58% L:20,347.5 4.86% L:11,514.6 3.36% L:14,785.8 low: $919.50 GERMANY 0.50 V 0.07 0.80 0.19 that , the chief Source: Thomson Reuters @sabahmeddings Price at 5pm Saturday

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) 47 3i Group 852.8 –70.2 1029.5 849.4 3.5 - 8334.2 99 Direct Line Insurance 323.7 –1.0 393.2 317.9 6.3 11.5 4450.9 36 London Stock Exchange 4097.0 –415.0 4794.0 3649.0 1.3 24.0 14264.0 62 Sainsbury, J 305.0 –10.1 341.5 224.8 3.2 24.0 6714.5 175 3i Infrastructure 246.0 –1.0 271.7 203.0 3.5 - 1992.9 180 Dixons Carphone 160.8 +5.8 234.7 149.1 - 7.6 1865.0 161 Man 140.4 –28.8 217.7 140.4 5.8 11.5 2218.2 53 Schroders 2841.0 –159.0 3773.0 2841.0 4.0 13.0 7728.6 79 Admiral 1948.0 –76.0 2118.0 1803.5 2.7 16.6 5614.2 94 EasyJet 1200.0 –8.5 1796.0 1178.0 3.4 10.7 4766.5 92 Marks & Spencer 298.5 +14.8 350.8 264.5 6.3 186.6 4850.2 61 Scottish Mortgage 481.0 –26.8 568.3 420.6 0.7 - 6967.7 169 Aggreko 812.2 –53.6 983.0 641.8 3.3 19.2 2080.3 138 Electrocomponents 621.4 –114.6 761.6 568.6 2.0 18.5 2756.7 119 Mediclinic International 459.6 +15.9 706.4 429.0 1.7 - 3387.9 69 Segro 603.0 –6.4 679.0 527.0 2.8 5.4 6111.4 152 Alliance 718.0 –39.0 785.0 689.0 1.9 - 2419.3 179 Entertainment One 404.0 –6.0 417.0 268.0 0.3 28.1 1872.1 111 Meggitt 505.0 –44.2 572.0 417.1 3.1 13.8 3921.3 102 Severn Trent 1820.0 +8.0 2185.0 1703.0 4.6 17.9 4315.5 25 Anglo American 1684.0 +14.8 1926.4 1343.0 4.6 9.4 23656.4 55 Evraz 530.8 –22.8 584.0 279.1 10.4 5.8 7661.3 48 Melrose 170.5 –21.2 247.0 170.5 2.5 - 8283.3 142 Shaftesbury 870.5 –17.5 1055.0 870.5 1.8 7.7 2675.1 54 Antofagasta 782.6 –44.4 1149.0 740.4 1.0 15.6 7715.3 34 Experian 1752.0 –143.5 1988.5 1508.0 1.7 27.0 16001.7 194 Mercantile Investment Trust 195.7 –9.9 226.0 193.0 2.9 - 1567.9 16 Shire 4300.5 –106.5 4624.0 2953.5 0.6 10.8 39336.9 150 Ashmore 348.0 –4.4 433.2 337.0 4.8 16.3 2480.3 38 Ferguson 5529.0 –449.0 6556.0 5381.2 1.9 15.6 12818.7 114 Merlin Entertainments 375.3 –11.6 452.8 318.4 2.0 18.7 3835.8 18 Sky 1726.0 nc 1730.5 900.0 - 36.5 29680.6 42 Ashtead 1994.5 –307.5 2438.0 1849.0 1.4 9.6 9644.0 116 Foreign & Colonial 670.0 –34.0 741.0 612.0 1.6 - 3600.1 139 Metro Bank 2776.0 –34.0 4040.0 2656.0 - 108.9 2704.1 81 Smith (DS) 407.0 –54.1 513.4 361.9 3.5 17.6 5573.5 31 Associated British Foods 2306.0 +17.0 3371.0 2225.0 1.8 17.5 18256.0 65 Fresnillo 876.4 +82.0 1467.0 772.2 3.5 17.7 6458.1 76 Micro Focus International 1361.5 –21.5 2739.0 911.8 5.4 9.8 5846.5 41 Smith & Nephew 1295.5 –56.0 1431.0 1215.0 2.1 20.9 11328.3 8 Astra Zeneca 5546.0 –336.0 6107.0 4705.0 3.8 34.6 70255.9 121 G4S 217.0 –12.3 291.3 217.0 4.5 17.6 3367.0 195 Millennium & Copthorne Hotels 480.0 –30.0 625.5 480.0 1.4 14.2 1559.0 87 Smiths 1357.0 –127.5 1801.0 1353.0 3.2 14.7 5372.6 113 Auto Trader 411.6 –10.2 466.3 319.0 1.3 23.2 3864.6 7 Glaxo Smith Kline 1429.4 –78.0 1619.4 1242.8 5.6 42.9 70905.1 63 Mondi 1794.0 –202.0 2236.0 1693.0 3.0 14.6 6588.3 171 Smith WH 1872.0 –172.0 2347.0 1800.0 2.6 18.2 2042.3 104 Aveva 2600.0 –96.0 3054.0 1803.0 1.0 55.6 4193.0 12 Glencore 313.6 –11.4 415.0 286.9 3.3 9.9 44444.2 187 Monks Investment Trust 774.0 –43.0 872.0 733.0 0.2 - 1696.7 74 Smurfit Kappa 2498.0 –318.0 3292.0 2150.0 3.1 12.5 5925.6 32 Aviva 435.6 –38.7 552.0 435.6 6.3 15.7 16994.4 189 Grafton Group Units 695.0 –45.0 841.5 687.0 2.2 11.9 1658.0 75 Morrison Supermarkets 247.4 –5.2 269.4 204.1 2.5 24.4 5856.6 163 Sophos 462.0 +8.2 669.5 416.0 0.7 - 2206.9 123 Babcock International 654.0 –51.2 862.4 626.2 4.4 9.8 3306.6 197 Greene King 502.0 +19.1 642.6 458.9 6.6 9.6 1556.2 177 National Express 384.4 –12.6 422.2 340.9 3.5 14.4 1967.1 151 Spectris 2103.0 –193.0 2908.0 2059.0 2.7 8.6 2429.0 29 BAE Systems 584.2 –29.8 676.4 535.5 3.7 24.8 18664.2 181 Great Portland Estates 658.4 –4.5 798.7 658.4 1.8 36.2 1854.5 22 National Grid 787.4 +1.0 935.2 736.8 5.7 7.4 26760.3 96 Spirax-Sarco 6350.0 –640.0 7345.0 5410.0 1.4 26.9 4674.4 183 Balfour Beatty 258.0 –14.9 311.1 258.0 1.4 8.2 1780.2 86 GVC Holdings 932.0 +10.0 1170.0 860.0 3.2 36.4 5420.9 115 Nex 1005.0 –35.0 1070.0 558.0 3.0 34.7 3816.3 186 Sports Direct International 316.0 –9.6 436.1 310.0 - 68.7 1696.8 21 Barclays 165.0 –7.9 217.0 165.0 1.8 - 28259.3 93 Halma 1273.0 –163.0 1504.0 1146.0 1.1 31.3 4832.9 56 Next 5394.0 +54.0 6202.0 4230.0 2.9 12.7 7534.6 40 SSE 1115.5 –3.5 1440.5 1084.0 8.3 13.7 11450.9 127 SSP 661.9 –45.7 742.7 577.6 1.3 30.6 3071.3 89 Barratt Developments 513.8 –43.0 700.0 483.0 5.0 7.8 5210.2 122 Hammerson 431.9 –8.5 570.0 428.3 5.9 21.9 3364.8 64 NMC Health 3134.0 –152.0 4120.0 2700.0 0.4 40.0 6525.3 140 BBA Aviation 260.0 –21.4 368.8 260.0 2.8 29.2 2684.8 45 Hargreaves Lansdown 1806.5 –301.5 2270.0 1532.0 1.7 36.4 8568.6 30 Standard Chartered 563.5 –42.2 849.2 563.5 1.5 21.7 18630.0 77 Ocado 813.2 +9.8 1146.0 238.7 - - 5677.7 135 Beazley 528.5 –50.5 619.5 479.7 2.2 80.2 2789.1 155 Hays 157.9 –30.6 212.0 156.7 2.1 14.0 2300.7 80 St James’s Place Capital 1055.0 –71.5 1270.5 1052.0 4.1 36.8 5584.5 184 PageGroup 518.5 –37.5 623.5 440.6 2.4 18.1 1700.3 117 Bellway 2892.0 –59.0 3792.0 2790.0 4.2 7.3 3556.6 137 HICL Infrastructure 155.0 +0.2 163.1 133.5 5.2 - 2776.5 50 Standard Life Aberdeen 274.7 –21.9 446.3 274.7 7.8 9.5 8084.6 71 Pearson 777.6 –55.4 957.4 621.5 2.2 10.2 6073.6 101 Berkeley 3375.0 –166.0 4321.0 3310.0 3.2 6.1 4396.9 108 Hikma Pharmaceuticals 1663.0 –181.5 2016.0 855.6 1.5 - 4015.2 190 Synthomer 478.6 –47.9 575.5 460.0 2.5 16.1 1626.7 133 Pennon 699.4 +0.6 821.5 583.4 5.3 14.6 2939.4 5 BHP Billiton 1576.4 –59.2 1779.2 1328.5 4.7 16.7 83920.0 97 Hiscox 1625.0 –80.0 1711.0 1332.0 1.8 97.2 4674.3 132 Tate & Lyle 633.4 –28.6 710.0 526.0 4.4 11.3 2960.1 153 Pershing Square Holdings 1114.9 –22.8 1175.6 920.8 - - 2369.3 110 B&M European 396.5 +14.6 434.8 373.0 1.6 21.3 3967.2 131 Homeserve 903.0 –65.0 1041.0 705.0 1.8 30.4 2997.0 88 Taylor Wimpey 161.1 –4.1 211.2 157.9 2.9 8.4 5280.4 60 Persimmon 2249.0 –62.0 2890.0 2178.0 10.4 8.7 7105.5 198 Bodycote 811.0 –90.0 1055.0 794.0 2.2 14.8 1552.7 141 Howden Joinery 441.0 –6.2 539.0 399.5 2.5 14.5 2684.4 188 Templeton Emerging Markets 659.0 –24.0 825.0 649.0 2.3 - 1693.5 168 Petrofac 617.8 –24.8 663.4 397.3 4.7 - 2098.6 3 BP 558.0 –30.5 598.3 459.8 5.4 20.8 111952.0 2 HSBC 628.9 –31.9 796.0 628.9 6.1 17.0 125325.9 27 Tesco 216.9 +2.1 266.2 176.0 1.4 19.2 21242.1 98 Phoenix Group Holdings 624.5 –39.5 714.5 496.2 7.2 60.9 4503.6 6 British American Tobacco 3272.0 –152.5 5100.0 3272.0 6.0 1.8 75051.4 162 IG Group 600.0 –50.0 954.5 598.5 5.4 9.8 2213.1 143 Travis Perkins 1029.5 +12.0 1609.0 993.0 4.4 11.2 2595.8 191 Polar Capital Technology 1196.0 –84.0 1386.0 1060.0 - - 1595.2 82 British Land 569.4 –15.8 697.0 569.4 5.2 11.7 5546.2 136 IMI 1024.0 –112.0 1443.0 1013.0 3.8 19.0 2786.3 166 Tritax Big Box Reit 145.2 –0.9 156.9 139.6 4.5 7.2 2139.6 130 Polymetal International 665.2 +60.2 927.5 591.0 4.9 9.4 3016.2 174 Britvic 755.5 –9.0 834.5 661.5 3.5 18.8 1999.1 24 Imperial Brands 2516.5 –129.5 3181.5 2325.0 6.8 19.6 24000.8 52 Tui 1361.5 –51.0 1810.5 1308.0 4.2 11.1 8004.3 91 Paddy Power Betfair 6015.0 –550.0 9110.0 6010.0 3.3 23.4 4892.0 26 BT 235.9 +5.8 277.5 202.9 6.5 11.6 23405.8 146 Inchcape 612.0 –17.5 832.5 611.5 4.4 10.5 2540.6 120 Tullow Oil 243.2 –13.9 276.0 165.8 - 18.6 3387.4 14 Prudential 1587.5 –107.5 1981.0 1582.0 3.0 18.2 41146.3 164 BTG 562.0 –23.0 779.0 475.0 - 144.1 2175.6 43 Informa 710.6 –37.8 859.0 659.6 2.9 20.9 8893.9 199 UDG Healthcare 623.0 –60.0 959.0 623.0 1.5 52.1 1549.5 57 Bunzl 2200.0 –99.0 2426.0 1936.0 2.1 22.3 7400.1 159 484.9 –13.2 635.0 336.4 5.2 213.4 2238.2 193 QinetiQ 276.4 –9.6 292.8 195.5 2.2 11.4 1569.8 4 Unilever 3931.0 –122.0 4548.5 3695.0 3.3 20.5 106277.3 58 Burberry 1761.5 –142.5 2325.0 1498.0 2.2 25.8 7245.9 51 Intercontinental Hotels 4240.0 –281.0 4966.0 4047.0 1.8 18.8 8084.4 154 Quilter 122.7 –10.1 154.7 120.9 - - 2334.4 160 Unite Group 846.0 –16.0 913.0 694.0 2.7 7.6 2228.3 172 Capital & Counties Properties 238.6 –13.8 319.9 238.4 0.6 - 2030.0 134 Intermediate Capital 973.5 –75.5 1203.0 929.5 2.9 11.0 2826.5 84 Randgold Resources 5784.0 +392.0 7535.0 4652.0 2.7 31.1 5461.1 95 United Utilities 687.4 –11.6 845.5 656.0 5.7 13.2 4687.3 170 Capita 124.3 –9.9 571.5 123.2 5.4 - 2073.8 59 Intertek 4455.0 –296.0 6014.0 4410.0 1.6 25.1 7190.1 11 Reckitt Benckiser 6460.0 –328.0 7187.0 5443.0 2.5 13.2 45674.9 157 Victrex 2618.0 –454.0 3408.0 2384.0 2.1 19.5 2255.5 17 Carnival 4329.0 –219.0 5085.0 4215.0 3.4 12.6 31374.4 39 International Airlines Group 585.6 –25.8 726.6 581.8 4.1 5.1 11637.7 173 Redrow 546.0 –21.0 664.5 516.0 3.7 6.4 2019.1 196 Virgin Money 349.3 –23.3 421.8 258.6 1.7 9.2 1558.1 49 Centrica 145.8 –4.7 175.4 124.1 8.2 15.5 8227.3 165 International Public Partnerships 153.2 –0.8 165.0 138.2 4.4 18.8 2153.1 19 Relx 1496.5 –41.0 1782.0 1429.5 2.6 18.2 29526.6 15 Vodafone 151.0 –9.2 238.0 150.7 8.7 10.9 40341.7 109 Cineworld 291.6 –22.4 670.5 97.9 2.0 30.5 3998.2 149 Intu Properties 184.7 –4.3 253.0 148.6 7.6 - 2502.8 129 Renishaw 4144.0 –432.0 5775.0 4000.0 1.3 22.8 3016.4 103 Weir 1645.0 –115.5 2325.0 1570.0 2.7 22.8 4267.7 158 Close Brothers 1480.0 –83.0 1660.0 1316.0 4.1 10.9 2241.4 124 Investec 478.7 –25.3 648.6 461.4 4.9 9.6 3260.2 83 Rentokil Initial 300.1 –34.0 355.1 258.7 1.3 29.8 5531.8 46 Whitbread 4584.0 +22.0 4728.0 3512.0 2.1 19.2 8417.9 145 Cobham 107.0 –9.1 144.5 107.0 - 11.3 2558.4 66 ITV 159.9 –0.9 180.4 142.4 4.9 15.4 6434.6 112 Rightmove 433.9 –18.7 535.0 388.9 1.3 26.1 3899.5 176 William Hill 231.5 –10.1 338.0 231.5 5.7 - 1992.3 44 Coca Cola HBC 2338.0 –110.0 2801.0 2216.0 2.0 21.5 8611.5 178 IWG 212.0 –15.6 326.8 190.9 2.7 20.8 1915.9 9 Rio Tinto 3674.5 –70.0 4492.0 3440.5 5.9 8.4 63502.9 182 Witan Investment Trust 1020.0 –56.0 1138.0 995.0 2.2 - 1814.3 23 Compass 1546.5 –48.5 1709.5 1425.0 2.2 21.6 24497.6 107 Jardine Lloyd Thompson 1874.0 –14.0 1898.0 1212.0 1.8 36.8 4104.8 125 RIT Capital Partners 2005.0 –20.0 2130.0 1844.0 - - 3122.6 148 Wizz Air Holdings 2458.0 –128.0 3797.0 2329.0 - 12.9 2521.3 100 Convatec 224.2 –4.3 279.3 182.0 1.9 24.7 4397.6 106 JD Sports 422.8 –23.5 521.4 318.0 0.4 16.4 4114.8 33 Rolls-Royce 875.8 –84.4 1094.0 814.0 1.3 7.8 16512.9 90 Wood 739.4 –34.6 796.4 521.4 1.1 - 5011.2 200 Cranswick 3004.0 –370.0 3460.0 2780.0 1.5 21.9 1548.9 72 Johnson Matthey 3096.0 –265.0 3823.0 2968.0 2.5 20.0 5991.8 144 Rotork 297.2 –32.4 361.4 252.3 1.8 43.7 2587.2 185 Workspace 942.0 +2.5 1165.0 861.5 2.5 9.1 1699.1 28 CRH 2315.0 –163.0 2861.0 2305.0 2.6 12.1 19066.5 192 Jupiter Fund Management 345.5 –42.8 631.4 345.5 4.9 10.1 1581.3 20 Royal Bank of Scotland 244.0 –5.5 302.4 239.6 - 42.1 29397.7 37 WPP 1058.5 –74.5 1471.0 1058.5 5.7 7.1 13356.3 73 Croda 4506.0 –520.0 5318.0 3873.0 1.8 24.4 5931.8 105 Just Eat 609.4 –36.0 890.0 609.2 - - 4148.9 1 Royal Dutch Shell A 2478.0 –120.0 2748.5 2175.5 5.7 13.9 205623.0 147 CYBG 286.4 –20.6 364.2 284.2 0.3 54.0 2537.7 156 Kaz Minerals 497.1 –28.9 1076.0 436.7 - 5.4 2278.6 Royal Dutch Shell B 2510.5 –124.5 2841.0 2201.5 5.7 14.1 Price/earnings ratios are based on historic data, with yield and p/e values 67 DCC 6390.0 –470.0 7755.0 6235.0 1.8 24.7 6277.5 85 Kingfisher 254.4 +4.5 362.5 242.7 4.2 13.8 5422.0 118 Royal Mail 340.6 –4.4 631.0 338.4 6.8 13.2 3406.0 calculated from the most recent reported dividends and earnings per share, 167 Dechra Pharmaceuticals 2090.0 –118.0 3168.0 1970.0 1.1 56.4 2138.8 70 Land Securities 820.4 –28.2 1010.4 820.4 5.1 35.6 6083.0 128 RPC 755.4 –58.2 973.0 648.6 3.4 12.3 3069.5 using trailing 12-month figures. 52-week highs and lows are end of day. 126 Derwent London 2797.0 +13.0 3235.0 2625.0 2.1 10.4 3119.7 35 Legal & General 246.8 –11.7 286.2 245.9 6.2 9.0 14709.4 78 RSA Insurance 550.6 –25.4 681.8 550.6 3.6 18.7 5653.8 nc = no change Data provided by Morningstar.Any enquiries please contact: 10 Diageo 2541.0 –139.0 2883.5 2354.5 2.5 21.0 62181.1 13 Lloyds Banking Group 58.2 –0.8 72.1 57.3 5.2 11.2 41367.6 68 Sage 564.0 +11.8 821.4 546.6 2.7 23.8 6119.8 [email protected]