8 The Sunday Times May 10, 2020 BUSINESS

Liam Kelly LETTERS

Corona beer sign and then watchdog’s decision to block Send your letters, including the tax status of Virgin intentions of laws. It is the accepting only a turnover Turn again, Bronek Whittington exclaims of his younger JD Sports’ takeover of full name and address, Atlantic’s majority owner responsibility of rent is a sign of a desperate friends: “I feel better already! Footasylum made headlines to: The Sunday Times, plays in determining whether policymakers to create laws landlord (“Landlords told to ’s war with hundreds becoming lord mayor, who is I’ve found three nurses.” last week, less noticed was a 1 Bridge Street, it should access a loan on whose applications align with face a new reality on rents”, of customers over their chosen from their ranks. Ronan says the video was blocking move from JD itself. London SE1 9GF. Or email: commercial terms from the intentions. May 3). As a veteran investor, unsuccessful coronavirus However, the reaction to shot in late February, before Boohoo, the online fast- [email protected] government since Branson is Kit Pfeiffer, marketing director, surely he has heard of factory claims might cost its boss the Hiscox’s behaviour could any coronavirus cases were fashion retailer, has been Letters may be edited not withdrawing any funds XCL Resources, Houston, Texas outlet centres. Examples chance to host white-tie thwart his ambitions. There diagnosed in Ireland, and forced to look for a new non- that would otherwise be include Cheshire Oaks and dinners at Mansion House. are at least four aldermen that it does not represent executive after JD withdrew subject to UK tax. Britain cannot rebuild Bicester Village. These mainly Bronek Masojada, chief ahead in the pecking order, a “how I think about the virus consent for Kath Smith, 63, Virgin Atlantic is a suitable Virgin Atlantic is a big without home-made steel rely on turnover rents, and executive of the FTSE 250 Corporation source tells me. and the devastating impact it to join its board. The former case for state support employer and has supported Your reporting on the UK were highly successful prior insurer, is one of 25 Kite-surfing Masojada has had”. Even though North Face boss and JD non- It was disappointing to see other UK companies, such as steel industry (“Tata turns to to the current crisis. aldermen of the City of must hope five years will be Ronan has matured, his executive’s appointment had Luke Johnson echo the Rolls-Royce. Perhaps the best Whitehall to keep furnaces Des Gillingham, Sutton Wick, London Corporation, which long enough for his fellow judgment hasn’t. been announced on April 22. popular anti-Branson line argument for government burning”, May 3) omitted two Somerset governs the Square Mile. The aldermen to forget this row. Sources close to JD say it without analysing Virgin support for the carrier is its simple facts. First, five 58-year-old South African blocked the appointment Atlantic more objectively reputation as a good million people work in stormed to victory last year Boohoo recruit because of a crossover in (“Branson can ruin Virgin employer. As an aviation manufacturing and BESTSELLING BOOKS in the Billingsgate ward, with Johnny’s rotten returns to sender products, and because Brian only once”, May 3). consultant, I know many . Second, to 52 people casting ballots for sense of timing Small — JD’s ex-finance chief EasyJet has already taken a people who work at Virgin rebuild the economy, those Rich Dad Poor Dad him. Election as an alderman Yet more rows are brewing in — is Boohoo’s deputy £600m loan under the Covid Atlantic and I have never met industries require a resilient, 1 Robert Kiyosaki is a step on the ladder to Some things never change. In retail. While the competition chairman, so it wouldn’t be corporate financing facility. a group who feel so much stable and sustainable Plata Rebel Ideas 2010, as his property empire wise to have two insiders at a This was advanced only a few pride and loyalty in working domestic supply of steel to Matthew Syed teetered on the brink after rival. But why did JD not weeks after easyJet declared a for a company that they do produce schools, hospitals, 2 John Murray JUST SAYING . . . the financial crisis, bearded FUNNY BUSINESS notice this three weeks ago? £174m dividend, a substantial not own. homes, road and rail links, Never Split the Difference buccaneer Johnny Ronan portion of which went to its Paul Clark, southwest London digital technology and energy Chris Voss and Tahl Raz 3 Random House Business raised eyebrows by flitting to biggest shareholder, who is a infrastructure — not to We’re not Shoe Dog Morocco on his private jet Mazzucato does Monaco tax resident. Blame the lawmakers, mention the steel needed for Phil Knight talking about with a former Miss World. I fail to see what relevance not capitalism machinery for production of 4 Simon & Schuster The Irish developer later God’s work Irwin Stelzer’s column food and medical equipment, The Intelligent Investor a cliff-edge but lost control of the Battersea Economist Mariana (“Capitalism needs to be to renew our water and Benjamin Graham TWITTER POLL 5 Harper Business power station regeneration, Mazzucato announced on supervised”, May 3) did not sewerage systems and in we have to get Start With Why and Treasury Holdings, his YouTube last week that she adequately address the role flood and security defences. Simon Sinek people back to debt-laden company, was was advising the Vatican on Yes No of American policymakers in The commercial 6 Penguin work. We’ve got put into liquidation. life after the Covid-19 crisis. distorting the perceptions of opportunity presented to the Factfulness Yet he doesn’t seem to No, it’s not papal bull. “The capitalism. UK — to invest in the future of 7 Hans Rosling et al 40% 60% Sceptre to wean off it have become any more pope did a rave review of my He rightly points out the the industry, the technologies Doughnut Economics serious. A video has been book,” trilled the 51-year-old tax breaks for the uber-rich, that will transform it and the Kate Raworth circulating showing Ronan, professor of economics of the distribution of “small domestic industrial capability 8 Random House Business 66, paunchier than in his innovation and public value business loans” to large that will be required to build The 4-Hour Work Week Timothy Ferris heyday but still sporting his at University College corporations and the likely the UK’s future at home and 9 Vermilion distinctive grey-streaked London. “Isn’t that cool? crony-esque connections abroad — should be seized. The 5am Club mane, larking about in Cape The best thing you could ask between recipients and Gareth Stace, director general, 10 Robin Sharma Health secretary Matthew Town with three women. for,” she told Royal Society administration officials. In UK Steel, London SW1 Harper Thorsons Hancock on ending the Clutching a glass of wine, of Arts boss Matthew Taylor Was the competition each instance, however, it is BookScan is currently unable to release book market figures as the reduction in the number furlough scheme, which Ronan pretends to have a during an online talk with watchdog right to block faulty policy that is allowing Turnover rents are not just of retailers remaining open has impacted the is costing almost as much cough, makes a facemask out the unripping title of New JD Sports from buying these behaviours. a sign of weakness ability to report market data. Bestseller list as the NHS of a napkin, poses under a Economic Approaches. smaller rival Footasylum? It is not the responsibility I was interested in Matthew prepared by Nielsen using data supplied by and copyright to Nielsen BookScan, taken from the @ST_Business of businesses to work out the Oakeshott’s comment that TCM for the four-week period April 5 to May 2. DATABANK INSIDE THE CITY SABAH MEDDINGS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR 1.5% 1.7% hammered by the Covid-19 covenants; net debt rose 4% FTSE 100 USD > GBP The pumps outbreak. Motorway traffic is to €545m (£482m) between 8,000 CPI including housing current rate prev. month still about 40% below normal the December year-end and $1.24 1.5% 1.7% levels as commuters and March. Applegreen made V 0.01 are running 7,000 12-month high: $1.33 Retail prices index current rate prev. month holidaymakers have been pre-tax profits of €37.2m on low: $1.15 confined to home, robbing sales of €3.1bn last year. 2.6% 2.5% EURO dry at Applegreen of crucial sales It is using the government 5,935.98 6,000 Average weekly earnings on prev. month on last year EUR > GBP needed to pay down the debt. furlough scheme to pay 172.92 H:7,686.6 £545 0.4% 2.8% Shares in the company, 4,800 of its 11,500 workers in 3.00% L:4,898.8 V U Applegreen which is listed on AIM, have Ireland and the UK, and said 5,000 €1.14 Unemployment current rate prev. month FTSE 250 W 0.00 plunged 40.5% since the start in March that it had started 2019 2020 12-month high: €1.20 1.36m 4.0% 3.9% It was always going to be a of the year and closed last talks with landlords to try low: €1.06 Source: Re initiv Manufacturing output on the year on last month risk. After growing his petrol week at 278p, valuing it at to secure rent holidays and RISERS FALLERS YEN forecourts business from a £333.1m. Etchingham and reductions. It has cancelled Halfords: 151.4p U 35.2% on profits Stobart: 42p V 18.3% on sentiment YEN > USD V 3.9% U 0.5% single filling station on the his family retain a 41.3% its final dividend, cut capital boost SIG: 28.5p U 23.8% on Tui: 265p V 13.9% on analyst cut Retail sales on the year on last month outskirts of Dublin in 1992, stake, so the falling share spending and made use of reopenings Hiscox: 801.2p U 20.2% : 53.5p V 12.9% on retail on share placement Aveva: £39.10 park sale collapse : 45.3p ¥106.58 V 5.8% V 5.1% Bob Etchingham had his eye price will have hit him hard. government schemes to defer 16,247.94 U 12.7% on sentiment : 760p V 10.7% on broker note Petrofac: V 0.23 U 12.3% on continuing recovery 170.9p V 9.5% on decommission delay 12-month high: ¥112.11 on a bigger prize. In August While Applegreen has taxes. Executive bonuses 99.60 H:22,108.3 low: ¥102.34 2018, his listed company, taken steps to preserve cash, have also been deferred. 0.62% L:12,829.7 UK trade latest 3 mths prev. 3 mths latest 12 mths balance (£bn) Applegreen, spent €321m the crisis has left it on a shaky Applegreen’s rent move OIL +5.9 -1.1 -11.7 (£301.8m) on a 50.1% stake in financial footing. Outlets has ruffled landlords. One, DOLLARS/BARREL DOW JONES FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change rival Welcome Break, giving remain open but it expects LondonMetric, served it with HANG SENG product him control of a motorway a big hit to profits and has a winding-up petition over 24,331.32 24,230.17 1,332.37 $30.97 W 0% U 0.5% U 1.1% 4.53 services empire stretching withdrawn guidance to the unpaid quarterly rent, before 607.63 H:29,551.4 413.42 H:30,081.6 14.30 H:1,690.8 U Budget deficit latest month prev. month year-to-date 2.56% L:18,591.9 1.68% L:21,696.1 1.08% L:1,096.5 12-month high: $73.40 (PSNB) in £bn across Ireland, the UK and market. The company has the government moved to low: $15.98 -3.0 -0.8 -48.7 North America. also hinted at the need for block landlords taking action. NASDAQ SHANGHAI SENSEX GOLD The acquisition pushed flexibility in its banking The moratorium on the use of 9,121.32 2,895.34 31,642.70 DOLLARS/TROY OZ Applegreen into almost half statutory demands runs out 516.37 H:9,817.2 35.26 H:3,115.6 2,074.92 H:41,952.6 a billion pounds of debt, but Applegreen on June 30, and landlords will 6.00% L:6,860.7 1.23% L:2,660.2 6.15% L:25,981.2 $1,713.78 10-YEAR BOND YIELDS % with petrol takings rising and come knocking. 21.81 U variation 12 months an increasing focus on higher- The company must S&P 500 CAC 40 ALL ORDS 12-month high: $1,737.64 500p low: $1,268.45 high low margin convenience and navigate a way between 2,929.80 4,549.64 5,488.00 food sales, Etchingham was 400 demanding debt holders, 99.09 H:3,386.2 22.54 H:6,111.2 163.00 H:7,255.2 BITCOIN UK 0.23 V 0.01 1.22 0.16 3.50% L:2,237.4 0.49% L:3,754.8 3.06% L:4,564.1 DOLLARS confident of paying it down. thirsty landlords and cautious US 0.67 U 0.04 2.55 0.50 However, Applegreen, 300 motorists. The question is NIKKEI DAX S&P TSX which has 556 sites and how long will the money it 20,179.09 10,904.48 14,966.56 $9,704.42 JAPAN -0.00 U 0.02 0.10 -0.29 partnerships with brands 200 has last before Applegreen is U 803.74 559.74 H:24,116.0 42.84 H:13,789.0 346.22 H:17,970.5 12-month high: $13,796.49 including Burger King, KFC 2019 2020 forced to go to shareholders, low: $3,615.27 GERMANY -0.53 U 0.05 0.02 -0.84 2.85% L:16,358.2 0.39% L:8,441.7 2.37% L:11,172.7 Price at 4pm Saturday and Starbucks, has been Source: Re initiv cap in hand. Avoid.

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) 48 3i Group 765.0 +22.8 1189.0 529.8 4.4 - 7443.5 95 Direct Line Insurance 280.6 +8.1 348.0 227.3 7.6 9.6 3828.9 78 Land Securities 643.8 –18.2 1001.5 514.6 7.1 - 4773.6 89 Sainsbury, J 192.7 –5.4 235.8 174.9 5.7 113.3 4275.5 126 264.5 +8.0 317.8 185.0 3.7 - 2357.8 174 Domino’s Pizza 347.0 +2.8 349.4 221.2 2.7 41.3 1603.9 35 Legal & General 205.0 +0.4 318.4 138.6 8.2 6.8 12229.4 186 975.0 +10.0 1258.0 651.0 1.6 18.2 1394.8 52 Admiral 2415.0 +85.0 2508.0 1887.0 3.8 16.3 7101.0 152 Dunelm 922.5 +2.0 1404.0 659.5 3.0 16.6 1865.8 19 31.3 –0.9 67.2 27.7 10.4 9.2 22041.4 46 Schroders 2791.0 +137.0 3443.0 2098.0 4.1 15.9 7522.5 125 733.0 +18.0 880.0 536.0 1.8 - 2409.9 136 EasyJet 531.4 –71.8 1552.0 475.0 11.0 6.1 2109.7 16 7828.0 +372.0 8542.0 5050.0 0.8 66.3 27511.3 47 Schroders N/V 2150.0 +20.0 2635.0 1478.0 5.3 12.2 7522.5 21 Anglo American 1467.0 +51.8 2266.0 1091.8 5.8 7.0 19996.1 121 585.0 +7.0 729.8 449.6 2.5 17.9 2610.9 143 Man 133.6 +0.2 175.1 96.4 5.7 9.6 1982.5 38 Scottish Mortgage 683.5 +44.5 692.0 449.5 0.5 - 9934.4 43 Antofagasta 805.8 –7.2 984.0 612.0 4.2 16.4 7944.0 92 Evraz 270.0 +4.8 709.4 203.4 30.8 3.1 3920.1 154 Marks & Spencer 95.1 +3.0 262.4 87.1 14.2 20.7 1854.9 40 822.4 –7.2 935.0 659.4 2.4 10.4 9111.0 119 Ashmore 381.2 +1.8 570.0 307.2 4.4 15.2 2717.0 17 Experian 2601.0 +225.0 2898.0 1882.0 1.5 40.2 23624.8 199 Marshalls 600.0 –37.5 876.0 519.5 2.0 21.4 1200.3 173 130.2 +1.4 167.7 102.5 - 30.9 1605.9 37 Ashtead 2216.0 +41.0 2774.0 1300.0 1.8 12.6 9956.7 99 F&C Investment Trust 648.0 +16.0 789.0 463.0 1.7 - 3513.8 153 252.0 –7.4 415.3 238.2 3.1 14.7 1857.8 67 Severn Trent 2417.0 +27.0 2696.0 1905.5 3.9 19.3 5751.4 116 Asos 2826.0 +432.0 3759.0 1050.0 - 96.1 2819.4 34 Ferguson 5700.0 –36.0 7602.0 4086.0 2.8 17.5 12809.0 141 257.7 –21.6 697.4 217.0 6.6 9.1 2011.9 180 Signature Aviation 180.2 –15.6 327.5 64.6 7.6 18.4 1493.6 29 Associated British Foods 1766.0 –126.5 2708.0 1607.5 2.6 15.9 13981.0 135 FeverTree Drinks 1818.0 +78.0 3053.0 892.2 0.8 33.2 2111.2 79 Melrose 96.0 –3.8 248.5 74.4 4.8 - 4663.9 87 Smith (DS) 313.0 +1.1 394.8 254.7 5.2 14.1 4295.7 138 Assura 78.3 +2.0 84.0 60.1 3.5 23.0 2082.8 169 Finsbury Growth & Income 786.0 +10.0 966.0 595.0 2.1 - 1692.1 184 Mercantile Investment Trust 182.4 –1.6 279.1 116.7 3.2 - 1443.7 27 Smith & Nephew 1657.5 +99.5 1990.0 1152.5 1.6 32.1 14498.9 1 Astra 8559.0 +237.0 8830.0 5676.0 2.5 110.1 112314.8 28 Flutter Entertainment 9750.0 nc 9980.0 5512.0 2.0 53.5 14038.8 100 M&G 131.6 –0.6 251.4 93.7 - 2.2 3420.7 77 Smiths 1250.0 +9.5 1769.5 814.6 3.6 35.6 4952.6 80 Auto Trader 479.8 +21.1 607.6 364.7 1.4 21.5 4629.7 190 Frasers 251.8 –8.2 518.0 182.6 - 10.1 1307.7 175 International 476.9 –4.8 2160.0 311.6 21.0 - 1595.9 191 Smith WH 996.0 –257.0 2654.0 700.5 5.6 10.2 1303.4 62 Aveva 3910.0 +340.0 5315.0 2846.0 1.1 109.7 6315.1 74 Fresnillo 681.0 –30.8 921.2 527.0 3.2 33.5 5018.2 58 Mondi 1361.0 –49.0 1846.0 1183.0 5.1 9.6 6608.4 65 Smurfit Kappa 2514.0 +6.0 3010.0 1944.0 3.4 14.8 5997.6 39 Aviva 247.3 +5.5 438.4 211.0 12.2 3.9 9713.1 179 G4S 97.0 –12.2 221.5 69.9 10.0 38.8 1504.4 162 Moneysupermarket 326.8 +9.2 417.7 227.2 3.4 18.7 1753.8 130 1139.0 +9.0 1260.0 885.0 1.3 30.6 2262.9 140 399.5 –22.0 646.6 323.5 7.4 10.1 2019.9 144 5995.0 –25.0 7350.0 3590.0 2.6 29.9 1958.9 85 Morrison Supermarkets 187.1 +4.1 215.4 164.2 3.5 14.6 4499.8 109 2683.0 +16.0 3005.0 2132.0 2.3 13.3 3113.4 25 BAE Systems 512.2 +3.8 669.0 438.9 4.3 12.4 16467.0 133 Genus 3276.0 –136.0 3672.0 2400.0 0.8 275.3 2132.4 193 Murray International 971.0 +16.0 1299.5 760.1 5.7 - 1256.6 54 Spirax-Sarco 9370.0 +642.0 9415.0 7330.0 1.1 41.5 6909.1 158 259.2 –0.4 293.4 189.6 1.9 16.1 1788.5 5 Glaxo Smith Kline 1674.6 +13.6 1846.0 1374.6 4.8 18.3 84016.1 13 National Grid 921.2 –12.6 1067.4 778.0 5.1 21.6 32332.5 177 Communications 254.5 +13.5 256.0 147.4 1.4 26.7 1556.9 33 SSE 1235.5 –14.5 1686.5 1008.0 7.9 7.4 12841.7 24 Barclays 105.4 –0.5 192.5 80.2 6.6 9.8 18277.3 22 Glencore 148.2 +1.1 280.9 112.5 10.1 - 19744.0 60 Next 4882.0 +156.0 7340.0 3390.0 3.4 10.9 6490.6 71 530.8 +11.8 878.4 364.7 5.5 7.2 5405.1 181 Units 621.5 –13.5 990.0 371.0 3.0 10.3 1483.1 194 SSP 234.6 –45.8 721.0 150.8 4.9 8.5 1252.4 31 Ocado 1864.0 +259.5 1864.0 1064.0 - - 13306.5 139 Beazley 382.0 –14.0 628.0 328.2 3.0 11.5 2024.5 159 Grainger 263.6 –3.6 338.0 207.4 2.0 13.3 1775.8 32 Standard Chartered 413.4 +5.9 738.6 376.3 4.0 9.7 13009.7 200 PageGroup 359.4 –16.6 533.5 279.8 3.6 10.6 1181.1 104 2681.0 +18.0 4310.0 1879.0 5.6 6.3 3306.7 172 1590.0 –242.0 2476.0 1300.0 2.2 21.4 1608.4 83 St James’s Place Capital 849.2 –2.2 1199.5 660.0 5.7 30.3 4556.9 101 Pearson 449.6 –10.2 927.0 431.6 4.1 7.8 3382.8 73 Berkeley 4268.0 +85.0 5474.0 3131.0 0.6 10.7 5365.2 167 669.4 –7.4 966.0 550.0 1.8 29.6 1699.4 75 219.5 –1.6 336.9 174.0 9.8 24.9 5009.9 82 Pennon 1096.5 +0.5 1202.5 697.8 3.7 19.8 4616.6 6 BHP 1376.6 +40.4 2049.0 939.8 4.9 9.8 69615.6 81 GVC Holdings 792.8 +38.8 939.0 323.7 4.0 - 4620.0 198 285.2 +1.6 382.2 193.0 4.3 13.3 1211.7 50 Persimmon 2282.0 +77.0 3298.0 1534.5 10.3 8.6 7278.0 157 1020.0 –52.0 1240.0 697.5 3.2 10.5 1790.3 42 Halma 2233.0 +143.0 2244.0 1667.0 0.7 47.0 8477.5 110 Tate & Lyle 645.0 –67.2 801.4 530.2 4.6 13.2 3021.2 195 250.4 –6.2 314.6 146.4 3.0 25.3 1252.0 103 B&M European 331.0 –1.8 420.9 266.5 2.3 25.3 3311.9 51 Hargreaves Lansdown 1505.0 +64.5 2433.0 1158.0 2.2 27.3 7138.5 76 151.9 +4.8 236.2 101.5 5.0 7.4 4988.3 86 Phoenix 605.4 +4.4 803.0 467.5 7.7 70.4 4368.1 91 Boohoo 347.0 +24.0 347.0 157.5 - 80.5 4053.1 197 Hastings 183.3 +0.8 206.8 148.9 7.4 12.6 1212.5 18 Tesco 237.3 +2.2 258.9 211.2 2.4 17.7 23240.0 187 1297.0 +46.5 1298.5 522.0 12.1 11.1 1381.8 9 BP 315.9 +2.8 560.5 233.7 10.4 - 63999.8 161 Hays 104.7 –3.8 183.5 92.0 3.8 10.8 1756.6 118 1089.5 +50.0 1720.0 650.0 4.3 22.5 2747.1 124 Polar Capital Technology Trust 1830.0 +100.0 1848.0 1041.5 - - 2470.1 7 British American Tobacco 2977.0 –103.5 3507.0 2382.0 6.8 12.0 68298.4 108 HICL Infrastructure 169.0 +3.6 183.0 133.8 5.3 - 3149.6 134 Tritax Big Box REIT 124.5 +3.9 159.7 85.9 5.4 9.0 2125.2 44 Polymetal International 1644.0 +11.5 1700.0 772.6 2.3 21.6 7756.2 98 389.0 –15.6 638.8 313.8 8.0 - 3604.8 64 2473.0 +103.0 2490.0 1580.0 1.3 16.4 5998.1 176 Tui 265.0 –51.5 1081.5 265.0 23.0 4.3 1560.6 149 Primary Health Properties 157.0 +3.0 165.6 126.2 3.6 - 1910.6 150 707.5 –25.0 1068.0 601.0 4.0 23.4 1887.7 129 Hiscox 801.2 +98.6 1777.0 666.4 4.0 62.8 2312.4 178 UDG Healthcare 617.5 –10.5 832.5 464.0 2.1 33.2 1548.9 15 Prudential 1123.0 –5.5 1506.0 710.8 4.3 19.8 29297.5 36 BT 104.9 –11.1 210.8 104.9 14.7 4.8 10371.4 94 1147.0 +32.0 1340.0 768.0 1.9 35.1 3838.5 185 1970.0 –1.0 2292.0 1515.0 2.6 29.5 1398.4 66 Bunzl 1730.5 +3.0 2190.0 1277.0 2.9 16.6 5828.3 106 Howden Joinery 544.6 +19.4 732.6 400.0 2.2 15.6 3251.7 163 QinetiQ 308.6 +4.6 387.8 249.4 2.1 14.0 1752.7 2 Unilever 4083.0 –19.0 5324.0 3726.0 3.4 22.5 106845.0 69 Burberry 1385.0 –5.0 2345.0 1085.0 3.1 16.0 5605.2 4 HSBC 412.7 +2.7 672.5 395.6 9.3 18.2 84047.0 128 124.1 +0.9 174.7 97.6 4.0 - 2326.4 111 Unite Group 820.0 –55.5 1339.0 634.5 3.5 9.1 2981.8 189 Capital & Counties Properties 159.0 –7.3 270.5 143.4 0.9 - 1348.9 114 IG Group 788.0 +33.5 793.0 474.8 5.5 19.5 2911.2 10 Reckitt Benckiser 6648.0 +18.0 6688.0 5150.0 2.6 20.7 47206.6 63 United Utilities 899.6 –2.6 1061.0 759.0 4.5 16.9 6134.3 57 Carnival 937.0 –158.5 4080.0 605.0 17.6 2.6 6657.7 131 IMI 822.0 –5.5 1206.0 674.8 5.0 14.6 2237.6 170 Redrow 473.4 +12.2 848.0 313.2 6.6 5.4 1667.3 165 1973.0 –23.0 2540.0 1786.0 3.0 18.5 1708.3 147 166.9 +11.1 167.9 84.3 2.6 46.2 1929.9 26 Imperial Brands 1627.0 –52.0 2227.5 1276.4 11.9 15.4 15398.1 12 Relx 1859.0 +62.5 2099.0 1482.5 2.3 24.2 35902.7 160 Vistry 810.0 +2.0 1478.0 510.0 7.0 7.4 1763.7 127 39.9 +0.0 95.9 30.2 24.8 - 2329.8 146 Inchcape 491.6 –9.9 720.0 420.0 5.4 6.3 1933.3 137 Renewables Infrastructure 127.4 +1.8 139.2 95.8 5.9 - 2086.1 14 112.9 +0.8 165.2 98.0 7.1 - 30232.3 171 Close Brothers 1085.0 –6.0 1663.0 926.5 6.1 8.5 1641.9 56 Informa 454.3 +15.1 892.0 363.7 4.8 18.9 6824.1 120 Renishaw 3712.0 +188.0 4310.0 2276.0 1.6 56.8 2701.9 123 Weir 962.6 +8.0 1603.0 666.2 4.8 40.6 2499.0 55 Coca Cola HBC 1896.5 –118.5 3074.0 1494.0 2.5 16.8 6904.4 59 Intercontinental Hotels 3594.0 –14.0 5738.0 2385.5 2.5 22.8 6564.7 41 Rentokil Initial 482.1 +7.8 525.4 340.1 1.0 31.6 8939.7 93 Whitbread 2858.0 –122.0 5152.0 2105.0 3.5 12.0 3845.6 20 Compass 1287.0 –49.0 2138.0 1002.0 3.0 18.4 20439.9 102 Intermediate Capital 1157.0 +29.0 1877.0 559.5 3.9 16.4 3360.5 84 520.8 +23.2 701.2 400.1 1.3 26.7 4547.1 182 168.8 –1.0 235.5 130.0 2.9 - 1456.0 166 1495.0 +39.0 1920.0 935.0 2.0 20.9 1706.4 45 Intertek 4722.0 –28.0 6170.0 4164.0 2.2 24.5 7621.0 11 Rio Tinto 3725.5 +41.0 4976.5 2968.0 6.7 10.1 46445.5 117 2690.0 –184.0 4496.0 2006.0 - 8.3 2765.4 88 Convatec 216.2 +3.8 220.4 138.3 2.0 578.1 4288.4 97 International Airlines Group 190.4 –31.5 671.0 190.4 13.8 2.7 3782.1 113 RIT Capital Partners 1870.0 +22.0 2185.0 1252.0 - - 2933.1 196 Wood 180.1 –22.5 553.6 135.4 15.3 26.7 1233.9 164 385.0 –20.2 540.5 269.0 3.3 10.3 1732.5 122 International Public Partnerships 159.6 +3.8 171.2 128.2 4.4 14.9 2570.8 70 Rolls-Royce 287.1 –42.9 941.2 251.6 4.1 - 5543.9 188 Workspace 748.0 –33.0 1307.0 560.0 4.4 10.2 1352.0 148 Cranswick 3674.0 –44.0 4000.0 2488.0 1.5 25.9 1920.9 112 ITV 73.3 –3.2 156.5 54.4 10.9 6.2 2951.4 132 251.8 +3.2 341.2 191.3 2.3 24.2 2197.4 49 WPP 605.0 –16.2 1077.5 483.7 9.9 10.9 7413.2 23 CRH 2366.0 –34.0 3100.0 1574.0 2.6 13.9 18568.8 151 IWG 216.4 –21.6 469.0 114.0 3.0 25.2 1886.4 30 Royal Bank Of 114.1 +3.5 261.0 101.8 4.8 4.4 13799.2 155 Worldwide Health 3350.0 +155.0 3401.5 2159.5 0.8 - 1836.3 61 Croda 4966.0 +84.0 5375.0 4070.0 1.8 28.8 6400.6 72 JD Sports 554.2 +24.8 881.4 293.2 0.3 20.9 5393.7 3 Royal Dutch Shell A 1320.6 –4.4 2612.0 970.8 10.7 9.0 103104.8 68 DCC 5828.0 +170.0 7496.0 3878.0 2.4 24.1 5734.8 156 John Laing 364.4 –0.4 400.8 290.0 1.5 11.7 1797.4 Royal Dutch Shell B 1263.6 –22.8 2622.0 916.8 11.2 8.6 Price/earnings ratios are based on historic data, with yield and p/e values 115 2802.0 +32.0 3068.0 2168.0 1.1 100.9 2882.6 96 Johnson Matthey 1955.0 –37.5 3404.0 1683.5 4.4 9.8 3783.6 168 Royal Mail 169.7 +3.2 250.5 124.3 14.7 5.2 1697.0 calculated from the most recent reported dividends and earnings per share, 107 2900.0 –206.0 4282.0 2690.0 2.3 14.7 3246.4 145 Kaz Minerals 414.3 –0.3 615.2 269.1 1.8 4.7 1957.3 90 RSA Insurance 393.6 +32.4 597.0 326.9 5.3 15.6 4071.9 using trailing 12-month figures. 52-week highs and lows are end of day. 8 Diageo 2778.0 +28.0 3625.5 2200.0 2.5 21.6 64928.6 105 Kingfisher 156.1 –1.1 244.2 124.1 6.9 18.0 3295.0 183 686.5 –32.5 867.0 501.5 2.4 11.0 1444.7 nc = no change Data provided by Morningstar. Any enquiries please contact: 142 Diploma 1769.0 +44.0 2134.0 1296.0 1.5 32.3 2003.2 192 624.0 +12.0 807.0 528.0 1.8 14.2 1266.4 53 Sage 642.0 +2.0 820.4 534.8 2.6 26.4 7001.5 [email protected]