10 The Sunday Times March 22, 2020 BUSINESS

Liam Kelly LETTERS

that, shortly before the crisis Prada dress or Manolo Send your letters, including in upstream and 2,000 in number and severity of FTSE oldies in splendid isolation struck, My Wardrobe HQ, a Blahnik shoes, Shepherdson, SIGNALS full name and address, downstream operations. extreme weather events. designer clothes rental start- 58, says that the firm is AND NOISE . . . to: The Sunday Times, Typically, they are well-paid Even the Intergovernmental With the over-70s deemed “come to the conclusion I up chaired by fashion guru “selling a few pieces” and 1 Bridge Street, jobs in locations where Panel on Climate Change has to be at high risk in the work more at home than I do Jane Shepherdson, raised will “use the time usefully to London SE1 9GF. Or email opportunities are scarce. admitted that there is little coronavirus crisis, let’s check in the office”. The Sydney- £750,000 from wealthy develop the tech”. [email protected] We relish competition, but evidence of an increase in in on boardrooms. After all, born Chelsea FC season backers — including Nadja Letters may be edited it is time to put down the the number of extreme some 74 companies in the ticket holder has also been Swarovski, scion of the cudgels and work together to weather events. FTSE 350 have chairmen forced to watch Australian crystals dynasty. Where sheep Gupta: let’s work together ensure that Britain retains a William Toland, aged 70 or over, according to rules football matches — the Shepherdson, who is to save the steel industry viable steel industry. shareholder adviser ISS ESG. only sport still going ahead — credited with transforming may safely graze John Collingridge complains Sanjeev Gupta, executive Joan Wadsley’s letter was in Based on Prufrock’s not- even though this weekend’s Sir Philip Green’s Topshop It is hard to imagine a chief that it isn’t easy to “follow the chairman, GFG Alliance, response to comments by entirely-scientific poll, the game is “between two teams chain into a fast-fashion executive today who would money” in my industrial London W1 Jaguar Land Rover’s outgoing septuagenarians seem to be I don’t have an interest in”. pioneer within two decades keep sheep — but, as organisation. Actually, it’s not boss, Sir Ralf Speth, who heeding government advice Paul Lester, 70, who — before leaving in 2006 — Sir David Prosser was so that difficult: we invest in We can’t allow hedge funds accused Greta Thunberg and and social distancing. chairs both , the became chairwoman last eloquent as to say: “Fields “I worked with a woman steel and aluminium to grow fat on virus crisis her associates of having no Sport-mad Philip Aiken, plastics supplier, and year after a Damascene look undressed without with whom I’d been friends businesses where we see a In these troubled times there constructive solutions to the 71, chairman of industrial retirement housebuilder conversion to sustainability. them.” (Lyrical C-suite before we were colleagues. prospect for a financial is one industry laughing all climate change issue. software developer McCarthy & Stone, has been While there are currently shepherds, please feel free to She had a terrible lapse of return through investment in the way to the bank. It has all He is absolutely right. and , the making calls while walking not many events now taking get in touch.) judgment and betrayed the low-carbon technology. the tools and expertise to Instead they rely on damage company, has along the beach near his place that call for a borrowed Prosser, the former chief organisation.” The London We finance our businesses make a killing at the expense and destruction — see , home in Poole, Dorset. executive of insurer Legal & School of Economics through relationships with of many others, to absolutely and London, with Busier than most has been General whose death at the director Dame Minouche more than 80 financial no one else’s benefit. disruption in the last case JUST SAYING . . . John Allan, 71, the chairman FUNNY BUSINESS age of 75 was announced last Shafik on firing friends institutions globally. I refer, of course, to hedge causing businesses to close of and outgoing week, was a typical In some cases, we use funds and their associates. and stopping people from Please get in president of the CBI, who Welshman. STYLE, PAGE 55 receivables financing — This is equivalent to working. had hoped to “read all the According to insurance arranging with a financing racketeering during a war. The fact is that a solution touch. I want serious books on the shelf veteran Mark Wood, partner for early payment for The only appropriate and fair will be very difficult to find, I’ve not yet read”, such speaking to The Sunday TWITTER POLL anticipated revenue. response is to immediately given that it will require small businesses as Hugh Thomas’s Times in 1999, Prosser had There is no great mystery tax shorting profits at 90%. worldwide co-operation. to feel there The Conquest of Mexico. “all the positive attributes of about that. Ian Templeton, chief executive, There is also the problem that Tony Pidgley, 72, founder a Welshman. He is lucid, Yes No In common with the rest of Acorn Capital, Buxton this country’s contribution to are people of housebuilder Berkeley, is persuasive and at ease with UK industry, though, we now worldwide pollution is an here to help still being chauffeured into himself. He is fun to be with.” face an almighty challenge. Climate concerns need a extremely small percentage the office — but wearing Quite how Prosser reacted 23% 77% The battle to contain Covid-19 clear-headed response of the total, making UK surgical gloves. “I’ve got a in that same year when the is touching every sector of I was surprised that Joan inhabitants reluctant to large office. I’m sitting on my mega-merger between our economy, well beyond Wadsley (Letters, last week) endure the hardship and own talking to people,” he NatWest and L&G that he had the visible impact on airlines, thought that her bad-weather inconvenience that would be says. Plus ça change. helped to engineer came to shops and restaurants. experience on holiday abroad necessary to minimise that nought was perhaps Industrial plants can was due to climate change. contribution. New Bank of foreshadowed by our operate only if they have According to climate It would be far better for governor Andrew Bailey Shepherdson’s reporter: “He also has some suppliers, customers and a science, a warming world will the climate protesters to asks business owners of that dark Welsh temper Economists expect growth workforce. cause the polar regions to recognise these problems and having trouble obtaining frock hopes and has a disapproving stare to shrink by up to 7% this When one, two or all three warm faster than the tropics. come up with something loans from banks to Amid the doom and gloom, that could curdle milk.” year due to the coronavirus of these are under threat, it This will reduce the constructive to do that might, get in touch before some businesses are able to liam.kelly@ outbreak. Do you think creates an untenable temperature gradient over just might, contribute to laying off staff sparkle. Prufrock can reveal sunday-times.co.uk that is too pessimistic? situation. the planet, which should finding a solution. We employ 3,000 people result in a decline in the David Birkett Evans, Wrexham DATABANK INSIDE THE CITY LIAM KELLY THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR 1.8% 1.3% the share prices of the big Barratt had £433.8m net cash FTSE 100 USD > GBP Barratt can listed housebuilders by an at the end of December. 8,000 CPI including housing current rate prev. month average of 54.8% over the Thomas, formerly finance $1.16 1.8% 1.4% past month — steeper drops chief at video game retailer V 0.07 find its 7,000 12-month high: $1.35 Retail prices index current rate prev. month than both the FTSE 100 and Game and hotelier low: $1.14 FTSE 250 in that time. Barratt Millennium & Copthorne, has 2.7% 2.2% EURO has lost more than half its focused on quality — no other 5,190.78 6,000 Average weekly earnings on prev. month on last year own way EUR > GBP £8.5bn valuation in a month. big builder has had the top 175.33 H:7,727.5 £547 0.6% 3.1% While the banking crisis customer satisfaction rating 3.27% L:4,898.8 U home was an existential one for for longer than Barratt’s 5,000 €1.09 Unemployment current rate prev. month FTSE 250 V 0.02 housebuilders, this time the 10 consecutive years — and 2019 2020 12-month high: €1.21 1.34m 3.9% 3.8% almost market may have overreacted building a sustainable low: €1.05 Source: Reinitiv Manufacturing output on the year on last month went bust in the last crisis. In to the disruption caused by balance sheet. With 17,856 RISERS FALLERS YEN 2007, the housebuilder got the coronavirus. “Relative to homes completed in its last Petropavlovsk: 18.8p U 24% on gold McCarthy & Stone: 51.8p V 52.3% on YEN > USD V 3.6% U 0.2% caught in a bidding war for its most other sectors, it should full year, no other builder rush Hastings: 185p U 23.3% on dividend cut William Hill: 39.9p V 50.1% Retail sales on the year on last month smaller rival, , fare better,” said Numis puts up more houses. sentiment DCC: £47.50 U 18.4% on on sport postponements Lookers: 11p investors eyeing value : 51.9p V 47.6% on continuing woes Crest ¥111.23 U 0.8% U 0.9% and ended up paying a analyst Chris Millington. Despite the pandemic, 13,592.64 U 17.9% on recovering some losses Nicholson: 185p V 43.1% on cancelling U 3.32 whopping £2.2bn. The move “Housebuilders look to be in Barratt’s sites — mainly in the 1,030.64 H:22,114.3 Funding Circle: 52.3p U 13.7% on payout Photo-Me International: 44.6p 12-month high: ¥112.39 revenue jump V 40.7% on coronavirus hit low: ¥101.19 saddled it with £1.7bn of debt. a pretty good place.” south — are open for buying 6.62% L:12,373.5 UK trade latest 3 mths prev. 3 mths latest 12 mths balance (£bn) As banks and markets Millington reckons that and selling, though sources OIL +14 -5.6 -14.6 crashed the following year, while the big builders went stress the company is DOLLARS/BARREL DOW JONES FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change Barratt had to cut 1,200 jobs, into the last crash with minimising risks of spreading HANG SENG product write down the value of its £4.8bn debt, before Covid-19 the disease. With the 19,173.98 22,805.07 1,151.37 $26.98 W 0% U 0.5% U 1.1% 6.87 land bank and renegotiate they had £3.9bn in cash — economy grinding to a halt 4,011.64 H:29,568.6 1,227.84 H:30,280.1 16.57 H:1,601.7 V Budget deficit latest month prev. month year-to-date 17.30% L:18,917.5 5.11% L:21,139.26 1.42% L:1,132.9 12-month high: $75.60 (PSNB) in £bn terms with its lenders. Then partly as a result of the and people urged to practise low: $24.52 -0.3 +11.7 -44 chief executive Mark Clare controversial, taxpayer- socially distancing, Barratt is NASDAQ SHANGHAI SENSEX GOLD came under severe pressure, funded Help to Buy scheme. sure to take a hefty sales hit. 6,879.52 2,745.62 29,915.96 DOLLARS/TROY OZ but managed to stay afloat. The share price fall last 995.36 H:9,838.4 141.81 H:3,288.5 4,187.52 H:42,273.9 At his side from 2009 as Barratt Developments Wednesday sent Barratt’s 12.64% L:6,686.4 4.91% L:2,646.8 12.28% L:26,714.5 $1,485.60 10-YEAR BOND YIELDS % finance chief was David market value below its £3.7bn 45.34 V variation 12 months Thomas, who stepped up to net asset value, a key metric. S&P 500 CAC 40 ALL ORDS 12-month high: $1,703.39 800p low: $1,266.35 high low the top job when Clare retired Even with a late rally on 2,304.92 4,048.80 4,854.30 six years later. Under the Friday it closed down 17.1% at 406.1 H:3,393.5 69.56 H:6,111.4 736.40 H:7,289.7 BITCOIN UK 0.55 U 0.13 1.25 0.07 600 14.98% L:2,280.5 1.69% L:3,632.6 13.17% L:4,768.7 DOLLARS leadership of the 57-year-old, 408.2p, giving it a £4.2bn US 0.93 V 0.04 2.64 0.32 Barratt is in much better market cap. As long as the NIKKEI DAX S&P TSX shape to weather the disruption from coronavirus 16,552.83 8,928.95 11,851.81 $6,199.48 JAPAN 0.04 U 0.04 0.04 -0.29 coronavirus storm. 400 is measured in months and U 851.17 878.22 H:24,116.0 303.13 H:13,795.2 1,864.52 H:17,970.5 12-month high: $13,796.49 Fears around Covid-19 and 2019 not years, Barratt should be low: $3,615.27 GERMANY -0.33 U 0.22 0.12 -0.91 5.04% L:16,358.2 3.28% L:8,255.7 13.59% L:11,361.3 Price at 4pm Saturday demand have pushed down Source: Re initiv as safe as houses. Buy.

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) 45 Group 667.6 –63.0 1189.0 529.8 4.4 - 6495.8 7 2427.5 +51.5 3625.5 2200.0 2.8 18.9 56731.5 156 Kaz Minerals 315.8 +46.7 738.4 269.1 3.0 4.0 1492.0 87 RSA Insurance 354.0 –71.8 597.0 350.0 5.9 14.0 3660.5 123 233.0 –43.5 317.8 191.6 3.7 - 2077.0 152 Diploma 1354.0 –137.0 2134.0 1296.0 1.9 24.8 1533.3 104 Kingfisher 126.2 –13.6 266.2 124.1 8.6 14.5 2661.9 180 580.5 –112.0 867.0 580.5 2.8 9.6 1221.6 55 Admiral 2053.0 +166.0 2330.0 1887.0 4.4 14.9 6029.4 91 Direct Line Insurance 252.5 –20.3 366.5 252.5 8.3 8.1 3454.8 182 595.0 –57.5 807.0 528.0 2.0 - 1207.5 52 Sage 555.6 –4.4 820.4 555.6 3.0 22.9 6061.0 130 586.0 –52.0 880.0 536.0 1.7 - 1928.3 176 Domino’s Pizza 271.5 –33.5 326.4 221.2 3.5 32.3 1254.9 73 Land Securities 611.8 –81.4 1001.5 607.2 7.5 - 4536.3 72 Sainsbury, J 205.8 +30.9 240.6 174.9 5.3 121.1 4554.4 23 Anglo American 1105.6 –128.8 2266.0 1095.4 7.1 4.4 15074.4 163 Dunelm 700.0 –165.0 1404.0 659.5 3.9 14.0 1415.7 35 Legal & General 157.1 –25.8 318.4 155.9 10.5 5.0 9368.9 198 717.5 –164.5 1258.0 651.0 2.2 13.4 1026.4 46 Antofagasta 653.4 +41.4 1022.5 612.0 5.2 13.3 6441.6 112 EasyJet 600.0 –199.2 1552.0 494.8 9.8 6.8 2382.0 15 32.1 –4.9 67.2 32.1 10.2 10.7 22607.0 47 2350.0 +252.0 3443.0 2098.0 4.8 14.1 6211.7 116 Ashmore 311.2 –25.0 570.0 311.2 5.3 12.4 2218.1 120 471.6 +10.1 729.8 449.6 3.1 14.4 2104.8 16 6220.0 –136.0 8542.0 4538.0 1.0 45.8 21811.8 48 Schroders N/V 1594.0 –140.0 2635.0 1478.0 7.2 9.6 6211.7 44 Ashtead 1457.0 –244.5 2774.0 1300.0 2.8 8.2 6551.7 95 224.4 +21.0 709.4 203.4 37.1 2.6 3258.1 140 Man 115.7 +13.6 175.1 96.4 7.9 8.1 1748.3 38 Scottish Mortgage 519.5 –17.5 661.6 449.5 0.5 - 7549.7 26 1758.5 –94.0 2708.0 1650.0 2.6 15.8 13921.6 19 2036.0 –53.0 2898.0 1951.0 1.9 31.4 18492.8 121 Marks & Spencer 107.8 –0.6 277.5 92.3 12.6 23.5 2102.2 37 697.8 –36.2 935.0 659.4 2.7 8.1 7652.4 142 Assura 71.4 +4.4 83.5 56.8 3.8 21.0 1723.1 100 F&C Investment Trust 507.0 –71.0 789.0 463.0 1.6 - 2750.6 172 Marshalls 637.5 –28.0 876.0 595.5 1.9 22.8 1275.3 169 109.9 –11.5 167.7 102.5 - 24.2 1344.5 3 Astra Zeneca 6891.0 +577.0 7878.0 5644.0 3.3 52.7 90424.1 33 Ferguson 4656.0 –726.0 7602.0 4503.0 3.4 12.5 10462.8 124 277.4 –20.7 415.3 251.2 2.8 16.2 2045.0 61 2241.0 +46.0 2696.0 1905.5 4.2 17.9 5332.5 90 Auto Trader 377.2 –57.4 607.6 369.0 1.8 16.9 3464.4 194 FeverTree Drinks 935.0 –115.0 3199.0 892.2 1.5 17.1 1085.8 129 248.9 –150.6 697.4 223.2 6.7 13.4 1935.4 168 Signature Aviation 165.0 –36.5 327.5 58.6 8.3 16.8 1365.6 59 Aveva 3360.0 +478.0 5315.0 2846.0 1.3 94.3 5426.7 196 Fidelity China Special Situations 195.8 –19.2 253.0 180.2 1.5 - 1056.4 66 Melrose 99.5 –41.7 248.5 99.5 4.6 - 4834.0 83 Smith (DS) 274.5 +6.6 394.8 267.9 5.9 12.4 3767.3 36 231.6 –40.4 438.4 218.8 12.9 4.0 9083.7 159 Finsbury Growth & Income 683.0 –19.0 966.0 595.0 2.0 - 1428.8 96 M&G 110.6 –38.0 251.4 93.7 - 1.9 2875.5 32 Smith & Nephew 1323.0 +4.0 1990.0 1152.5 2.1 21.1 11571.2 148 325.2 –19.2 646.6 323.5 9.1 8.2 1644.2 63 6650.0 –50.0 9456.0 5512.0 3.0 28.4 5210.7 164 International 421.8 –43.5 2160.0 311.6 20.8 2.5 1408.6 84 Smiths 933.4 –82.6 1769.5 814.6 4.8 26.6 3698.2 24 BAE Systems 470.0 –33.4 669.0 443.9 4.7 11.4 15070.2 185 Frasers 230.4 –28.6 518.0 214.0 - 9.2 1199.6 50 1256.5 –43.5 1846.0 1225.5 5.4 7.3 6101.0 193 Smith WH 945.0 –308.0 2654.0 700.5 5.8 9.7 1087.3 167 Balfour Beatty 201.2 –35.8 293.4 189.6 2.4 12.5 1388.3 75 Fresnillo 595.6 +39.4 921.2 527.0 3.6 29.3 4388.9 170 Moneysupermarket 248.4 –27.5 417.7 227.2 4.4 14.2 1333.0 65 2078.0 –32.0 3010.0 1988.0 4.2 - 4957.1 22 89.0 –8.5 192.5 83.2 7.9 8.3 15426.4 161 G4S 91.7 –2.8 234.3 91.7 10.6 36.7 1423.4 74 Morrison Supermarkets 185.0 +20.1 230.0 164.2 3.6 14.4 4449.3 134 931.5 –5.5 1260.0 804.0 1.4 27.1 1850.6 102 2300.0 +39.0 3005.0 2234.0 2.7 56.2 2668.6 80 Barratt Developments 408.2 –146.4 878.4 364.7 6.7 5.7 4156.7 171 3970.0–1220.0 7350.0 2800.0 3.9 19.8 1297.2 12 National Grid 877.4 +41.8 1067.4 778.0 5.4 20.5 30781.7 132 Beazley 354.4 –87.6 628.0 330.0 3.4 15.1 1874.5 138 Genus 2694.0 –600.0 3644.0 2178.0 1.0 226.4 1753.2 51 Spirax-Sarco 8245.0 +470.0 9415.0 6990.0 1.2 27.5 6073.8 62 Next 4004.0 –383.0 7340.0 3850.0 4.1 8.9 5323.3 110 2014.0 –884.0 4310.0 1879.0 7.2 4.6 2483.8 5 Glaxo Smith Kline 1449.0 +44.4 1846.0 1401.4 5.5 15.9 72696.6 187 Communications 190.0 –15.5 256.0 140.4 1.8 25.8 1162.3 128 NMC Health 938.4 nc 2942.0 700.0 1.9 9.3 1958.5 79 Berkeley 3395.0 –533.2 5905.7 3285.0 0.8 8.5 4272.6 21 119.6 –7.5 340.3 117.3 13.1 21.7 15933.2 31 SSE 1151.5 –92.0 1686.5 1008.0 8.5 6.9 11968.1 34 Ocado 1343.5 +266.5 1479.5 1064.0 - - 9563.3 8 BHP 1109.6 +169.8 2049.0 939.8 7.2 8.5 56113.3 151 Grainger 229.0 –26.0 338.0 207.4 2.3 11.6 1542.6 200 SSP 225.0 –114.0 748.1 150.8 5.1 8.1 1006.5 195 PageGroup 324.6 –7.8 539.0 324.6 4.0 9.6 1066.7 166 833.5 –136.0 1240.0 697.5 4.0 8.6 1393.1 147 Greencoat UK 110.0 –22.2 155.0 99.9 5.8 - 1669.3 25 446.5 +28.3 738.6 418.2 3.7 36.0 14187.0 82 Pearson 499.6 –11.6 927.0 499.6 3.7 8.7 3799.5 99 B&M European 278.5 –20.6 420.9 268.0 2.7 21.3 2786.6 160 1410.0 –370.0 2476.0 1362.0 2.5 19.0 1426.3 81 St James’s Place Capital 755.0 –2.4 1199.5 739.4 6.4 27.0 4041.5 77 Pennon 1036.0 +68.8 1202.5 697.8 4.0 18.7 4361.8 117 Boohoo 190.0 –41.8 333.7 157.5 - 44.1 2214.6 154 599.6 –112.6 966.0 550.0 2.0 26.5 1522.2 76 189.4 –15.3 336.9 177.4 12.0 - 4369.3 111 Pershing Square 1194.0 –452.0 1587.5 1134.0 1.6 - 2411.5 9 BP 251.7 –23.3 582.5 233.7 13.2 13.3 50997.4 119 GVC Holdings 363.5 –155.9 939.0 323.7 8.8 - 2118.3 105 Tate & Lyle 566.8 –42.4 801.4 539.2 5.2 11.6 2654.8 60 Persimmon 1678.5 –464.5 3298.0 1534.5 14.0 6.0 5353.2 6 2540.5 –44.5 3507.0 2540.5 7.8 9.5 58276.4 40 Halma 1882.5 +71.5 2244.0 1655.0 0.8 39.6 7146.8 17 Tesco 218.4 +7.2 258.9 211.2 2.6 16.3 21389.0 192 Personal Assets 40200.0 +300.0 44050.0 37650.0 1.3 - 1092.7 92 361.0 –22.9 638.8 353.0 8.6 - 3345.3 43 1396.5 +185.5 2433.0 1211.0 2.4 25.3 6623.9 127 779.6 –275.9 1720.0 650.0 6.0 26.4 1965.7 189 230.6 +9.8 314.6 140.0 3.2 23.3 1153.0 144 637.5 –52.5 1068.0 602.5 4.5 21.0 1700.7 179 Hastings 185.0 +35.0 231.6 148.9 7.3 12.8 1223.3 136 Tritax Big Box Reit 104.8 –8.6 159.7 85.9 6.4 7.6 1788.9 88 Phoenix 505.8 –59.4 803.0 505.8 9.1 6.7 3649.4 29 BT 126.1 +18.8 230.7 107.3 12.2 5.8 12459.5 150 Hays 106.9 –3.6 183.5 106.9 3.6 9.7 1568.4 126 Tui 333.9 –51.3 1081.5 280.4 19.1 5.3 1966.4 141 Polar Capital Technologies 1304.0 –46.0 1790.8 1134.3 - - 1745.1 67 1422.5 –244.0 2551.0 1277.0 3.5 14.3 4791.0 101 HICL Infrastructure 143.4 –16.6 183.0 133.8 3.9 - 2672.5 158 UDG Healthcare 577.5 –10.0 832.5 464.0 2.3 31.0 1446.4 69 1159.0 –146.5 2345.0 1103.0 3.7 13.4 4690.5 71 1884.0 +147.0 2200.0 1580.0 1.6 16.1 4565.5 58 1166.5 –23.5 1345.0 772.6 3.2 20.1 5487.0 183 1700.0 –216.0 2292.0 1515.0 3.0 25.4 1206.4 190 2020.0 –585.0 3195.0 1930.0 1.6 - 1107.7 98 1000.0 –46.0 1777.0 786.0 3.3 29.1 2850.5 145 Primary Health Properties 138.4 –2.0 162.8 126.2 4.0 - 1684.3 1 4138.5 +287.0 5324.0 3726.0 3.4 13.2 108297.4 181 Capital & Counties Properties 143.4 –28.9 270.5 143.4 1.0 - 1216.8 97 858.5 –126.5 1340.0 768.0 2.5 26.2 2872.8 18 Prudential 820.8 –64.0 1506.0 710.8 6.0 8.1 21352.2 103 Unite Group 733.0 –217.0 1339.0 634.5 4.0 8.1 2665.2 53 Carnival 885.8 –403.2 4237.0 620.0 18.6 2.4 6057.7 106 Howden Joinery 441.0 –78.4 732.6 400.0 2.6 13.6 2633.0 153 QinetiQ 268.6 –36.4 387.8 249.4 2.5 12.1 1525.6 57 806.4 –7.4 1061.0 759.0 5.0 15.2 5498.8 177 107.2 –5.8 153.1 79.8 4.0 29.7 1239.2 2 HSBC 500.0 +55.4 680.6 444.6 8.2 9.6 101659.8 125 Quilter 107.4 –13.2 174.7 97.6 3.1 14.1 2035.7 139 2022.0 +236.0 2540.0 1786.0 3.0 18.9 1750.0 108 43.5 –0.1 120.2 38.9 27.6 - 2529.1 113 IG Group 636.6 +42.6 725.2 474.8 6.8 15.8 2351.9 10 Benckiser 6025.0 +875.0 6688.0 5150.0 2.8 18.8 42770.3 199 Virgin Money UK 70.1 –28.8 216.6 58.0 4.4 - 1006.8 162 Close Brothers 940.5 –90.5 1663.0 940.5 6.8 7.1 1423.2 133 IMI 681.2 –89.2 1206.0 674.8 6.0 10.9 1854.3 186 Redrow 330.5 –215.5 848.0 316.0 9.2 3.6 1164.0 175 Vistry 581.5 –377.5 1478.0 581.0 9.8 5.3 1266.2 49 Coca Cola HBC 1692.5 –23.5 3074.0 1494.0 3.0 16.5 6153.8 30 1311.4 –39.6 2628.0 1309.0 14.8 12.4 12411.2 14 Relx 1504.5 +1.5 2099.0 1503.0 2.8 19.5 29079.5 13 112.5 +8.6 165.2 98.0 7.1 - 30123.8 20 Compass 1109.5 –131.5 2138.0 1015.0 3.5 15.9 17620.1 135 Inchcape 456.2 –61.3 720.0 436.0 5.9 35.4 1806.8 143 Renewables Infrastructure 104.0 –19.6 139.2 95.8 5.9 - 1702.9 131 Weir 742.2 –156.4 1814.0 742.2 6.2 31.3 1926.8 184 1052.0 –336.0 1920.0 935.0 2.9 14.7 1200.8 68 381.3 –135.3 892.0 376.0 5.7 15.9 4773.1 137 Renishaw 2428.0 –494.0 4638.0 2276.0 2.5 37.1 1767.3 173 147.0 –18.4 235.5 130.0 2.5 - 1269.6 191 ContourGlobal 164.4 +17.4 222.5 136.6 8.1 69.8 1102.7 64 Intercontinental Hotels 2754.0 –577.5 5738.0 2385.5 3.3 14.8 5030.4 41 375.6 –46.7 525.4 346.5 1.2 - 6946.1 115 2278.0 –379.0 4496.0 2006.0 - 7.0 2341.1 94 Convatec 168.2 +4.9 220.4 132.6 2.7 26.8 3337.3 122 Intermediate Capital 720.5 –338.5 1877.0 559.5 6.2 10.2 2092.6 86 420.9 –94.9 701.2 420.9 1.5 22.4 3674.9 197 Wood 151.4 –89.8 571.4 137.0 18.2 22.4 1037.3 178 273.8 –129.0 540.5 273.8 4.6 7.3 1232.1 39 4439.0 +52.0 6170.0 4164.0 2.2 24.8 7164.2 11 3212.0 +244.0 4976.5 2968.0 7.5 5.2 40043.2 188 Workspace 641.0 –241.5 1307.0 560.0 5.1 8.7 1158.6 149 Cranswick 3088.0 –40.0 3852.0 2488.0 1.8 21.8 1612.1 78 International Airlines Group 216.3 –117.8 671.0 195.0 12.7 2.3 4294.0 114 RIT Capital Partners 1494.0 –324.0 2185.0 1252.0 - - 2343.3 54 WPP 492.2 –63.8 1077.5 489.9 12.2 8.8 6033.3 27 CRH 1775.0 –244.0 3100.0 1574.0 3.6 10.2 13910.5 118 International Public Partnerships 136.8 –20.2 171.2 128.2 5.1 12.8 2203.6 42 Rolls-Royce 359.4 –91.8 941.2 346.4 3.3 - 6940.0 56 Croda 4424.0 +350.0 5375.0 4070.0 2.0 24.2 5702.0 107 ITV 63.2 –20.7 156.5 58.9 12.7 5.7 2542.4 146 191.3 –36.0 341.2 191.3 3.1 18.4 1669.4 Price/earnings ratios are based on historic data, with yield and p/e values 174 Daejan 7780.0 –170.0 8040.0 4715.0 1.4 21.2 1267.8 165 IWG 160.0 –73.0 469.0 114.0 3.9 13.4 1394.2 28 Royal 113.8 –11.9 263.3 113.8 4.8 6.9 13762.9 calculated from the most recent reported dividends and earnings per share, 70 DCC 4705.0 +365.0 7496.0 3878.0 2.9 19.4 4629.8 85 JD Sports 379.2 –159.4 881.4 293.2 0.4 14.3 3690.5 4 A 1062.2 –64.8 2612.0 970.8 14.4 5.2 83223.8 using trailing 12-month figures. 52-week highs and lows are end of day. 109 2424.0 +104.0 3068.0 2168.0 1.1 80.6 2493.5 157 John Laing 299.0 –20.2 402.0 290.0 1.8 9.6 1474.1 Royal Dutch Shell B 1033.6 –66.4 2622.0 916.8 14.7 5.1 nc = no change Data provided by Morningstar. Any enquiries please contact: 93 2988.0 –326.0 4282.0 2690.0 2.2 15.2 3339.9 89 1870.0 –135.0 3454.0 1870.0 4.6 9.3 3619.1 155 150.4 +13.1 265.3 134.6 16.6 4.7 1504.5 [email protected]