10 The Sunday Times February 4, 2018 BUSINESS

BRIEFING EASYJET MARKET WATCH IAN COWIE

Goldman Sachs gave global than they are today. But both were about to fall. This THE ISSUE THE ANALYST stock markets a bit of a shock will they? technique, sadly similar to EASY STREET WILL HEFFERNAN Hang on last week when the world’s Switching into cash is the many retail investors in best-known investment bank easy part of market timing practice, meant he retired EasyJet reported quarterly results This was a strong set of results and warned share prices were because the individual can last month with a fund worth last month that showed the airline management raised its revenue per in there, due a “rather painful . . . congratulate him or herself £150,890. taking advantage of recent carrier seat growth guidance for the first half sharp correction”. Nor was on standing back from Good Timing Gary also bankruptcies. Overall sales rose 14.1% of this financial year from mid to high Goldman the first institution excessive exuberance initially kept his savings in to £1.1bn (€1.25bn). Total revenue per single-digit. Yields were impressive to express fears about lofty elsewhere. Buying back into cash but, unlike Bob, only seat was £55.99, an uptick of 8.4%. and lead to earnings per share and your valuations. A few days earlier, shares after prices have ever invested in the stock Overall passenger numbers grew by upgrades across the board. EasyJet Bank of America Merrill plunged and confidence has market when confidence and 8% to 18.8m. EasyJet benefited from has benefited the most from Lynch said it was “very likely” collapsed is the difficult bit. the All-Share had hit rock reduced capacity on some flagship UK Monarch’s bankruptcy as its routes shares share prices would fall in the As reported here from time bottom and both were about and European routes due to the overlapped 98% of easyJet’s routes. next few weeks. to time, I have suffered to rise. This technique, bankruptcies of Alitalia, Air Berlin and The rising trend in fare prices is Both banks emphasised occasional bouts of vertigo perhaps unsurprisingly, had Monarch, less capacity from Ryanair expected to continue for the they were not predicting a while this bull market has the happier outcome of and a general increase in passenger remainder of 2018. That tailwind, shouldn’t prolonged bear market but climbed to dizzying heights. building a fund worth numbers as European economic along with a buoyant European were reacting to the longest After staying fully invested for £221,185 by January 2018. growth strengthens. Management economy, should ensure 2018 is a period of rising prices yet most of my adult life, I Now here’s the big also showed good cost control with a positive year for the sector. EasyJet let you seen. The Standard & Poor’s stopped reinvesting surprise. Steady Steffi never slight reduction in cost per seat and currently trades on an estimated 2018 500 index, a broad measure dividends for a few months bothered with deposits and fuel costs. 16.5 times earnings and earns a of American stock markets, last year but — after recently Investors can ride out even always put her money into dividend yield of 2.8%. and the MSCI World Index, a making a large withdrawal to the worst bear market the stock market every down global benchmark of about help our son buy his first January and left it there, easyJet 1,650 big companies’ shares, house — am now fully measure of British shares, come rain or shine. THE BOSS have both set new records for invested again. over the past 30 years. To Her “buy and hold” JOHAN LUNDGREN £17 the longest runs without While I will continue to turn a spreadsheet into a approach to investing in the falling by 5% on a single day. adjust asset allocation in story, I named our three All-Share meant she retired Johan Lundgren took over as chief 16 Peter Oppenheimer, response to events, I believe example investors Bad last month with a fund worth executive from Carolyn McCall in Goldman’s chief global equity the only sensible strategy for Timing Bob, Good Timing £285,884. December 2017 and his first set of 15 strategist, explained: “This long-term savers, as opposed Gary and Steady Steffi. Tom Stevenson, a director results set a high standard. Lundgren does not mean that the to short-term speculators, is Each set aside £1,000 at Fidelity, told me: “Second- 14 was previously Tui Travel’s deputy market must have a to remain invested in shares (€1,138) in January 1988, and guessing the stock market is a chief executive. He left after Tui Travel 13 correction. It just suggests and share-based funds. Even the same sum the following mug’s game. If your timing merged with its German parent TUI AG that one is overdue and that if you have a crystal ball — or, year before setting aside is as bad as Bob’s, the in 2015 and had been on gardening 12 rising valuations, amid like Goldman and Merrill £2,000 each January through consequences can be very leave since. He started his career in increased optimism, make some other means of the 1990s, then £3,000 a year costly. Even if you have the 1986 in the Swedish travel sector. The 11 the market more vulnerable predicting share price through the noughties and skill or luck of Gary, earning a appointment surprised analysts. He is Aug Sep Oct Nov Dec Jan to a setback.” movements — it can be an £4,000 each January during paltry rate of interest while generally regarded as a charismatic, Source: Yahoo This may come as music to expensive mistake to spend the current decade. Over the you wait for the right time to customer-focused executive. the ears of many people who too long in cash, as new past three decades, they each invest can seriously Lundgren, 50, recently took a £34,000 Market cap: £6.6bn (€7.5bn); Share have yet to participate in research from Fidelity set aside a total of £88,000. compromise returns.” pay cut to match his predecessor’s price: £16.69; DPS: £0.467; EPS: the upward trend in share International demonstrates. Bad Timing Bob initially For those of us who lack salary. The move followed media £1.012; Top five shareholders: prices that began nearly nine At the request of The kept his savings in cash, a crystal ball or even reports that found easyJet had one of Haji-Ioannou Family, 33.7%; Invesco, years ago. Sunday Times, the fund earning 0.75%, only ever Goldman’s expert guidance, the worst gender pay gaps in the UK. 10.22%; Blackrock, 4.62%; Vanguard, With luck, they might soon manager has analysed investing in the stock market time in the market is a better He is a trained classical trombonist. 1.99%; Prudential, 1.89% get the chance to invest at historic fluctuations in the after confidence and the All- way to build wealth than prices substantially lower FTSE All-Share index, a broad Share index had peaked and trying to time the market.

ISEQ FTSE 100 213.4 222.11 3% 2.89% H:7,257.41 H:7,792.6 DATABANK 6,885.23 L:6,369.05 7,443.43 L:7,096.8 IRISH SHARES THE WEEK IN THE MARKETS THE ECONOMY

ISEQ RISERS DOLLAR Consumer price index current rate annual change Ormonde Mining: 3c, U 7.1% EUR > USD 32 Abbey 14.8 –0.67 15 13.6 1.31 8.28 317.3 33 Kenmare Resources (£) 2.77 –0.18 3.52 2.37 0 7.55 303 Hibernia REIT: €1.55, U 3.3% Z0.4% U0.4% 7,200 Total Produce: €2.46, U 2.9% 4 Allied Irish Banks 5.43 –5.98 9.5 4.4 2.85 14.96 14725.5 3 Kerry Group 85.8 –1.38 94.92 63.54 0.8 23.39 15116.7 Residential property price index current rate annual change 7,000 $1.24 40 Aminex 0.03 –3.03 0.09 0.03 – – 116.6 9 Kingspan Group 36.7 –1.98 39.9 26.51 1.18 19.56 6584.8 W 0.00 FALLERS U1.1% U11.6% 6,800 12-month high: $1.25 44 Amryt Pharma (£) 0.2 –1.01 0.3 0.16 0 – 53.9 41 Mainstay Medical International 12.7 +0 16 12.7 – – 84.1 IFG Group: £1.67, V 9.2% low: $1.05 Vehicles licensed for the first time Nov 2017 annual change 6,600 Tullow Oil: £1.99, V 9% 28 Applegreen 5.86 –1.68 6.2 4.5 0.31 20.84 536.5 30 Malin Corporation 8.5 –4.49 12.71 8.25 – – 387 Datalex: €3.06, V 8.1% 6,400 POUND 495 Z13.5% 12 Aryzta 21.77 –6.93 33.48 21.18 0.83 17.95 2023.3 35 Mincon Group 1.2 –4 1.29 0.72 1.67 19.93 252.6 EUR > GBP 6,200 Average earnings a week prev. quarter qoq change 5 Bank of Ireland 7.87 –3.5 8.25 6.18 3.17 11.87 8484.9 26 Origin Enterprises 6.03 –0.99 7.58 5.98 3.48 12.24 757.3 €714 €720 U1.7% 23 C&C Group 3 –4.15 4 2.77 5.25 12.54 926.6 FMAMJJASONDJ €0.88 46 Ormonde Mining 0.03 +7.14 0.04 0.01 – – 14.2 Source: Bloomberg U 0.01 Unemployment on last month annual change 15 Cairn Homes (£) 1.92 +1.05 2 0.02 0.2 29.69 1465.5 49 Ovoca Gold 0.09 +0 0.16 0.08 – – 6.9 12-month high: £0.92 low: £0.83 38 CPL Resources 6.34 +2.26 6.75 5.6 2.09 10.5 172.3 143,700/6.1% Z3,000 Z28,600 7 Paddy Power Betfair (£) 81.8 +1.24 89.67 65.72 2.69 18.6 6919.8 DOW JONES CAC 40 1 CRH 29.03 –6.45 34.87 28.22 2.42 14.86 24353.8 25,520.96 5,364.98 YEN Manufacturing output current rate annual change 22 Permanent TSB Group 2.16 –4.22 2.96 1.64 0 13.18 979.9 164.17 H:5,567.0 YEN > USD 21 Dalata Hotel Group 5.82 –3.96 6.34 4.18 0 14.41 1069 1,095.75 H:26,616.7 Z10.1% 11.1% 47 Petroneft Resources (£) 0.01 +0 0.04 0.01 0 – 10.1 4.12% L:19,831.1 2.97% L:4,733.8 Z 36 Datalex 3.06 –8.11 4.15 2.82 1.87 34.92 235.4 Retail sales current rate annual change 43 Providence Resources 0.12 –4.92 0.24 0.05 – – 69.3 ¥110.09 8 DCC (£) 74.15 –1.92 77.63 62.4 1.81 20.31 6614.2 NASDAQ DAX U 1.39 2.6% U6.8% 2 Ryanair Holdings 16.36 –2.3 19.79 13.33 0 13.26 19345.7 7,240.95 12,785.16 12-month high: ¥115.50 42 Donegal Investment Group 7.8 –1.27 8 5 0 18.03 75.1 low: ¥107.31 Irish trade latest month prev. month annual change 6 Smurfit Kappa Group 29.36 +1.59 30.4 23.23 3.01 12.62 6954.2 264.83 H:7,505.8 555.01 H:13,596.9 31 FBD Holdings 10.9 –3.54 11.3 7.65 2.25 10.37 377.9 balance (€bn) 25 Total Produce 2.46 +2.93 2.57 1.8 1.39 18.02 799.1 3.53% L:5,616.4 4.16% L:11,479.8 OIL €3.5bn €3.93bn Z1.1% 17 First Derivatives 45.1 +0 51.8 23.51 0.6 54.25 1156.4 DOLLARS/BARREL 11 Tullow Oil (£) 1.99 –9.04 2.63 1.42 0 14.27 2757.6 Gross domestic Q3 2017 Q2 2017 annual change 45 GAN (£) 0.3 –1.67 0.38 0.15 0 215.32 20.7 S&P 500 FTSE EUROFIRST product 13 UDG Healthcare (£) 7.87 –2.3 9.63 6.33 1.37 24.58 1953.1 2,762.13 1,523.21 U4.2% U2.7% U10.5% 10 Glanbia 13.92 –0.29 19.6 13.4 1.17 15.92 4121 $68.58 50 Zamano 0.04 +2.44 0.07 0.03 – – 4.18 110.74 H:2,872.9 50.77 H:1,578.0 V 1.94 Budget surplus latest month prev. month of GDP 2016 24 Glenveagh Properties 1.21 –2.57 1.26 1.11 0 284.45809.8 3.85% L:2,271.7 3.23% L:1,425.0 12-month high: $71.28 in €bn low: $44.35 €1.53bn €1.91bn 0.9% 14 Grafton Group (£) 7.64 –5.16 8.51 5.81 2.18 13.33 1812.3 NIKKEI SENSEX 48 Great Western Mining 0.02 –5.56 0.03 0 – – 10.1 GOLD 23,274.53 35,066.75 DOLLARS/TROY OZ 19 Green REIT 1.58 +0.38 1.64 1.3 3.84 21.62 1094.3 357.35 H:24,129.3 983.69 H:36,444.0 34 Greencoat Renewables plc 1.07 –0.47 1.1 1.02 5.71 9.35 288.9 AIM IRISH COMPANIES 1.51% L:18,224.7 2.73% L:28,070.8 $1,330.58 10-YEAR BOND YIELDS % 16 Greencore Group (£) 1.96 –6.34 2.65 1.8 3.08 11.74 1383 V 22.01 HANG SENG ALL ORDS 12-month high: $1,359.26 20 Hibernia REIT 1.55 +3.33 1.57 1.2 2.64 35.29 1073.1 low: $1,200.04 variation 12 months 32,601.78 6,229.80 high low 29 Hostelworld 4.24 +0 4.45 2.23 – – 405.2 552.34 H:33,484.1 65.10 H:6,256.5 BITCOIN 1 Connemara Mining Co 0.04 –1.72 0.06 0.01 – – 3.7 IRELAND 1.16 ▲ 0.10 1.24 0.47 37 IFG Group (£) 1.67 –9.24 1.89 1.27 3.39 14.85 176 1.67% L:22,997.5 1.06% L:5,635.1 DOLLARS 2 Petrel Resources 0.03 –3.28 0.06 0.01 – – 2.9 39 Independent News & Media 0.11 +0 0.14 0.09 0 7.78 152.5 SHANGHAI S&P TSX UK 1.57 ▲ 0.14 1.64 0.72 3 Conroy Gold & Natural Resources 0.25 –15.25 0.47 0.11 – – 109.3 $8,804.00 18 Irish Continental Group 5.8 –1.19 6.03 4.64 2.22 19.01 1102 3,462.08 15,606.03 V 2,465.10 US 2.84 ▲ 0.18 2.85 2.02 27 Irish Residential Properties REIT 1.48 –0.27 1.6 1.15 3.79 24.97 617.6 4 Karelian Diamond Resources 0.06 +0 0.16 0.06 – – 1.5 96.05 H:3,587.0 633.19 H:16,421.4 12-month high: $18,905.20 low: $777.76 2.70% L:3,016.5 3.90% L:14,915.8 Price as of 11am Saturday GERMANY 0.71 ▲ 0.15 0.71 0.16

BRITAIN’S TOP 150 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) 49 3i Group 949.4 +19.2 969.5 687.5 2.8 - 9242.3 93 Direct Line Insurance 374.9 –0.1 411.3 333.8 3.9 16.2 5154.9 33 Legal & General 268.8 –6.4 276.8 235.7 5.3 10.4 16008.0 86 Sainsbury, J 249.1 –12.0 281.7 224.8 4.1 26.0 5454.5 178 3i Infrastructure 200.0 –0.5 214.5 187.0 3.9 - 2059.9 172 Dixons Carphone 191.9 –12.9 342.0 149.1 - 9.1 2212.6 12 Lloyds Banking Group 68.8 –2.5 73.1 62.2 3.9 16.0 49335.0 45 Schroders 3701.0 –18.0 3773.0 2937.0 2.5 19.4 9861.0 89 Admiral 1854.0 –34.5 2178.0 1784.0 2.8 23.2 5279.9 71 EasyJet 1653.0 –36.0 1689.0 914.5 3.2 21.5 6565.9 36 London Stock Exchange 4016.0 –8.0 4025.0 3014.0 1.1 47.4 13926.8 76 Scottish Mortgage 456.0 –15.0 477.0 341.4 0.7 - 6223.5 181 Aggreko 780.8 –27.8 1064.0 757.0 3.5 16.6 1999.8 157 Electrocomponents 611.4 –9.2 709.0 471.1 2.0 25.5 2699.6 123 Man 213.0 –3.8 217.7 136.2 3.3 - 3497.6 80 Segro 582.0 +3.8 587.6 452.5 2.8 8.3 5810.7 160 Alliance Trust 745.0 –16.0 769.0 652.5 1.8 - 2578.4 91 Evraz 364.5 –19.2 395.4 173.2 - - 5219.8 96 Marks & Spencer 297.0 –15.5 395.5 297.0 6.3 26.0 4825.5 99 Severn Trent 1910.0 –100.0 2553.0 1910.0 4.3 15.4 4508.7 25 Anglo American 1648.0 –86.6 1792.2 959.4 - 16.6 23147.9 35 Experian 1596.0 –43.0 1705.0 1446.0 1.9 25.9 14729.6 102 Mediclinic International 585.6 –25.4 887.0 507.5 1.4 63.0 4315.9 136 Shaftesbury 976.0 –49.0 1055.0 890.0 1.6 9.1 2995.2 50 Antofagasta 901.4 –39.6 1061.0 748.0 1.6 35.8 8886.6 37 Ferguson 5300.0 –272.0 5702.0 4460.0 2.0 15.1 13413.2 121 Meggitt 454.4 –19.0 526.0 410.6 3.3 12.1 3525.0 19 Shire 3313.5 –125.5 5036.0 3313.5 0.7 24.0 30078.0 135 Ashmore 424.2 –8.0 433.2 314.9 3.9 17.9 3000.7 118 Foreign & Colonial 653.0 –13.0 672.0 548.5 1.6 - 3543.1 103 Melrose 220.3 –13.5 261.2 198.8 1.0 - 4276.5 30 Sky 1062.0 +14.0 1062.0 900.0 - 22.5 18256.0 44 Ashtead 2034.0 –90.0 2152.0 1542.0 1.4 18.5 10154.2 46 Fresnillo 1335.0 –33.5 1725.0 1260.0 1.7 22.5 9837.5 198 Mercantile Investment Trust 2145.0 –35.0 2210.0 1760.0 2.3 - 1757.5 88 Smith (DS) 499.0 –10.2 558.5 418.8 3.0 24.6 5325.4 26 Associated British Foods 2723.0 –132.0 3371.0 2399.0 1.4 18.0 21557.3 101 G4S 280.8 –8.1 341.1 249.9 3.3 15.3 4356.9 126 Merlin Entertainments 330.0 –3.9 537.0 328.6 2.0 15.9 3352.2 42 Smith & Nephew 1253.0 –39.0 1431.0 1186.0 1.9 16.6 10963.3 6 Astra Zeneca 5036.0 –59.0 5508.0 4325.0 4.1 24.2 63775.7 60 GKN 415.3 –20.7 447.6 294.3 2.1 14.3 7132.4 143 Metro Bank 3638.0 –44.0 3834.0 3212.0 - 627.2 2924.7 77 Smiths 1567.5 –49.0 1685.0 1444.0 2.7 11.0 6199.0 119 Auto Trader 364.2 +8.9 435.9 319.0 1.4 21.9 3542.7 5 Glaxo Smith Kline 1310.8 –44.2 1722.0 1275.5 6.1 27.7 64463.2 48 Micro Focus International 2138.0 –56.0 2739.0 2020.0 3.4 41.6 9302.0 168 Smith WH 2106.0 –58.0 2347.0 1617.0 2.1 20.3 2319.9 189 Aveva 2950.0 –30.0 3054.0 1879.0 1.4 89.4 1888.0 9 Glencore 382.8 –19.1 415.0 276.6 0.7 33.1 55095.9 199 Millennium & Copthorne Hotels 534.0 –12.0 625.5 410.2 1.5 15.6 1734.1 79 Smurfit Kappa 2570.0 +42.0 2620.0 1962.0 2.8 17.4 6086.3 28 Aviva 514.4 –7.2 544.0 490.1 4.2 34.1 20807.8 196 Grafton Group Units 760.0 –45.0 841.0 592.0 1.8 17.5 1800.9 65 Mondi 1896.0 +1.0 2130.0 1693.0 2.7 16.7 6962.9 140 Sophos 638.5 –1.5 669.5 260.9 0.5 - 2942.7 127 Babcock International 657.0 –86.2 969.5 654.5 4.3 10.3 3321.8 176 Great Portland Estates 640.0 –18.5 739.0 587.5 1.6 - 2091.1 195 Moneysupermarket 339.3 –1.9 366.5 314.9 2.9 24.4 1838.4 132 Spectris 2597.0 +6.0 2834.0 2229.0 2.0 279.2 3096.0 29 BAE Systems 591.8 +12.4 677.0 535.5 3.6 17.8 18842.8 154 GVC Holdings 910.0 –11.5 982.0 670.5 - - 2736.1 92 Morrison Supermarkets 222.5 –4.4 252.9 207.0 2.4 14.8 5196.9 104 Spirax-Sarco 5645.0 –45.0 5920.0 4371.0 1.4 31.9 4151.3 190 Balfour Beatty 271.2 –22.4 307.6 253.5 1.0 82.2 1870.6 97 Halma 1249.0 –16.0 1330.0 955.0 1.1 34.0 4736.0 191 National Express 365.0 –2.2 386.8 336.4 3.4 15.9 1867.8 182 Sports Direct International 368.0 –6.8 419.5 284.5 - 13.1 1995.5 16 Barclays 195.6 –14.4 239.2 178.9 1.5 16.4 33314.1 110 Hammerson 486.0 –10.2 609.5 485.8 4.9 8.7 3855.0 21 National Grid 791.4 –15.6 1157.5 791.4 5.8 15.9 27139.1 39 SSE 1261.5 –20.0 1551.0 1261.5 7.2 9.4 12721.0 147 SSP 602.0 –28.5 687.5 404.0 1.0 31.4 2860.9 81 Barratt Developments 574.6 –43.6 700.0 493.5 3.2 10.2 5786.2 52 Hargreaves Lansdown 1848.5 –51.5 1928.0 1266.0 1.4 41.5 8767.8 166 Nex Group 631.0 +33.0 684.0 543.5 6.1 34.3 2396.1 185 Hastings 293.8 –9.2 325.0 226.7 3.4 20.7 1930.9 22 Standard Chartered 813.9 –35.3 849.2 685.9 - 1761.7 26785.5 113 BBA Aviation 348.2 –11.6 368.8 281.0 2.8 23.9 3592.6 59 Next 5026.0 –192.0 5320.0 3617.0 3.1 11.8 7391.1 146 Hays 199.2 –4.2 205.0 147.2 1.5 20.9 2874.4 75 St James’s Place Capital 1188.5 –35.5 1270.5 1030.0 2.8 50.2 6282.3 149 Beazley 533.5 –13.5 551.0 423.5 1.9 14.6 2804.6 69 NMC Health 3256.0 –104.0 3460.0 1719.0 0.3 52.9 6651.5 159 HICL Infrastructure 147.2 +6.1 174.6 141.1 5.3 - 2627.3 40 Standard Life Aberdeen 424.0 –9.1 446.3 405.0 4.7 19.3 12624.1 106 Bellway 3314.0 –176.0 3792.0 2516.0 3.4 9.0 4069.5 128 Ocado 519.0 +24.2 531.2 238.5 - 289.9 3270.1 169 Hikma Pharmaceuticals 942.0 –55.4 2297.0 942.0 2.4 17.6 2265.9 134 Tate & Lyle 644.4 –1.8 795.0 625.5 4.3 12.1 3000.9 90 Berkeley 3898.0 –216.0 4240.0 2834.0 3.5 7.1 5278.5 41 Old Mutual 234.0 –6.3 240.4 188.0 2.6 14.8 11536.1 108 Hiscox 1413.0 –15.0 1470.0 1064.0 2.0 17.3 4037.5 78 Taylor Wimpey 189.2 –10.1 211.2 169.8 0.9 10.6 6190.5 17 BHP Billiton 1537.2 –45.2 1660.0 1117.0 2.8 18.1 32465.7 84 Pearson 692.0 –2.0 748.4 566.5 7.5 - 5527.0 164 Homeserve 777.5 –19.0 867.0 523.0 2.0 33.4 2415.8 174 Templeton Emerging Markets 782.0 –41.0 825.0 615.0 1.0 - 2134.8 105 B&M European 414.7 –4.2 423.6 293.4 1.4 27.1 4147.0 144 Pennon 699.0 –28.2 944.0 699.0 5.1 16.0 2911.0 145 Howden Joinery 458.5 –4.9 475.7 391.8 2.3 15.6 2885.8 31 Tesco 202.2 –9.3 214.4 166.5 - 36.1 16555.6 194 Bodycote 956.5 –20.5 1006.0 677.0 1.6 23.6 1831.3 165 Pershing Square 999.0 –21.0 1250.0 959.0 - - 2398.9 2 HSBC 750.2 –20.4 796.0 620.8 5.0 36.0 150416.1 188 Thomas Cook 124.3 –4.3 129.5 84.1 0.4 155.4 1909.1 109 Booker 220.2 –8.3 233.2 182.7 2.1 25.7 3925.4 57 Persimmon 2504.0 –127.0 2890.0 1938.0 5.4 11.2 7728.0 152 IG Group 756.5 –32.0 795.5 491.9 4.3 14.4 2783.1 141 TP Icap 530.0 –22.6 553.6 444.8 3.2 33.5 2936.9 3 BP 489.5 –26.9 534.8 439.8 6.1 33.4 96847.6 195 Petrofac 525.6 –13.4 941.0 349.0 9.7 39.7 1818.1 117 IMI 1303.0 –43.0 1443.0 1121.0 3.0 23.4 3543.9 114 Travis Perkins 1425.5 –61.0 1696.0 1408.0 3.2 475.2 3579.1 4 British American Tobacco 4760.0 –179.0 5643.0 4565.0 3.3 19.1 88747.8 138 Phoenix Group Holdings 753.0 –27.0 798.5 724.0 6.2 - 2958.2 20 Imperial Brands 2858.0 –57.0 3933.5 2858.0 5.6 19.4 27257.8 47 Tui 1588.5 –43.0 1640.5 1068.0 3.5 13.3 9325.1 68 British Land 658.2 –28.2 691.5 586.0 4.5 11.3 6778.2 162 Playtech 776.4 –19.8 1016.0 768.0 3.7 12.5 2463.9 139 Inchcape 708.5 –22.5 880.5 708.5 3.4 14.8 2954.9 155 Tullow Oil 196.0 –22.5 305.5 145.6 - - 2710.8 186 Britvic 726.0 –70.0 820.0 623.0 3.4 17.2 1914.1 125 Polymetal International 797.8 –55.6 1095.0 797.8 2.6 12.6 3431.4 148 Indivior 395.6 –14.8 419.5 267.6 - 46.7 2854.1 120 UBM 898.5 +34.0 908.0 645.0 2.5 40.1 3539.4 23 BT 250.4 –12.6 342.5 243.8 5.8 15.6 24839.5 83 Informa 686.0 +1.8 761.0 629.5 2.8 27.4 5652.7 65 Paddy Power Betfair 8135.0 +55.0 8900.0 6665.0 1.9 50.1 6851.8 184 UDG Healthcare 778.0 –27.0 959.0 635.0 1.2 36.2 1932.0 153 BTG 717.0 –23.0 779.0 539.5 - 37.7 2765.8 177 Inmarsat 458.4 –20.7 850.5 443.3 9.3 13.1 2090.5 13 Prudential 1885.5 –34.0 1981.0 1567.5 2.3 17.6 48755.7 11 Unilever 4039.0 +45.0 4548.5 3263.0 2.9 22.7 49864.7 64 Bunzl 2061.0 +2.0 2465.0 1941.0 2.0 24.0 6924.9 51 Intercontinental Hotels 4656.0 –122.0 4928.0 3668.0 1.7 26.8 8845.9 70 Randgold Resources 7044.0 –86.0 8190.0 6585.0 1.1 31.9 6621.0 197 Unite Group 796.0 –6.0 813.0 594.5 2.0 8.4 1786.5 66 Burberry 1562.5 –49.0 1985.0 1562.5 2.5 22.3 6849.7 131 Intermediate Capital 1124.0 –1.0 1178.0 691.0 2.2 15.1 3153.3 14 Reckitt Benckiser 6714.0 –13.0 8108.0 6355.0 2.3 22.5 47195.7 95 United Utilities 733.2 –14.8 1056.0 733.2 5.3 11.7 4999.6 163 Capital & Counties Properties 288.1 –19.5 324.8 253.1 0.5 99.3 2442.4 54 Intertek 4972.0 –98.0 5425.0 3445.0 1.3 29.4 8024.3 170 Redrow 603.0 –26.0 664.5 450.8 1.7 9.5 2229.9 173 Vedanta Resources 790.2 –73.0 1102.0 575.0 5.2 - 2189.6 43 Carnival 4939.0 –1.0 5380.0 4285.0 1.7 18.6 10539.3 38 International Airlines Group 629.6 –20.4 670.0 472.6 3.2 7.6 13208.0 18 Relx 1511.5 –50.0 1782.0 1442.0 2.4 24.0 31422.4 175 Victrex 2470.0 –112.0 2730.0 1832.0 1.9 21.3 2119.5 192 Centamin 160.1 –0.2 190.5 131.8 7.5 24.5 1844.5 180 International Public Partnerships 151.0 +3.6 166.6 147.2 4.3 8.8 2038.2 122 Renishaw 4836.0 +56.0 5775.0 2892.0 1.1 25.6 3520.1 8 Vodafone 219.5 –6.1 238.0 192.4 6.0 - 58549.0 61 Centrica 128.6 –6.1 235.8 128.6 9.3 12.9 7063.8 137 Intu Properties 220.8 –7.4 294.0 194.7 6.3 13.1 2991.9 87 Rentokil Initial 296.5 –0.5 335.8 230.4 1.1 8.0 5447.7 98 Weir 2135.0 –122.0 2305.0 1727.0 2.1 71.6 4659.6 167 Close Brothers 1577.0 –20.0 1715.0 1316.0 3.7 12.4 2392.4 112 Investec 549.0 –13.2 627.5 461.4 4.2 11.4 3659.8 107 Rightmove 4436.0 –53.0 4573.0 3889.0 1.0 32.5 4053.1 62 Whitbread 3814.0 –95.0 4307.0 3512.0 2.5 14.8 6994.7 151 Cobham 116.8 –16.5 148.0 110.7 1.5 - 2792.7 67 ITV 168.9 –2.8 219.6 146.9 3.8 15.2 6796.9 10 Rio Tinto 3901.5 –41.0 4172.5 2910.0 3.3 14.8 53752.3 156 William Hill 315.0 +8.9 338.0 240.0 4.0 16.8 2702.0 53 Coca Cola HBC 2346.0 –72.0 2671.0 1788.0 1.6 24.7 8547.4 179 IWG 225.0 –47.8 365.2 190.9 2.3 15.6 2057.3 142 RIT Capital Partners 1890.0 –50.0 2005.0 1815.0 - - 2930.2 187 Witan Investment Trust 1066.0 –28.0 1108.0 915.0 1.8 - 1909.1 24 Compass 1465.0 –40.5 1757.6 1465.0 2.3 20.5 24093.2 133 Jardine Lloyd Thompson 1372.0 –4.0 1448.0 1016.0 2.3 25.4 3005.2 34 Rolls-Royce 865.0 +9.2 981.0 666.0 0.5 - 15917.2 183 Wizz Air Holdings 3428.0 –288.0 3716.0 1570.0 - 20.9 1970.3 111 Convatec 190.4 –17.6 344.0 182.0 - - 3715.6 116 JD Sports 365.0 –2.9 456.0 303.3 0.4 17.8 3552.3 161 Rotork 288.5 –9.6 304.2 223.5 1.8 33.2 2510.4 100 Wood 650.2 –31.6 839.0 560.0 4.0 - 4406.3 27 CRH 2542.0 –183.0 2920.0 2530.0 2.2 18.2 21258.4 73 Johnson Matthey 3336.0 +42.0 3503.0 2727.0 2.2 17.0 6456.3 15 Royal Bank Of Scotland 286.6 –15.0 302.4 223.9 - - 34036.8 32 WPP 1293.0 +0.5 1921.0 1253.0 4.4 9.5 16478.8 82 Croda 4354.0 –159.0 4597.0 3310.0 1.7 26.9 5720.8 158 Jupiter Fund Management 576.8 –25.2 631.4 411.3 2.5 18.6 2640.0 1 Royal Dutch Shell A 2395.5 –114.5 2573.5 1992.5 6.0 31.8 200896.3 150 CYBG 317.0 –13.0 340.3 260.0 - 18.4 2804.2 85 Just Eat 810.2 –9.2 824.0 496.0 - 65.9 5503.7 Royal Dutch Shell B 2423.5 –130.5 2609.0 2052.5 6.0 32.1 - Price/earnings ratios are based on historic data, with yield and p/e values 72 DCC 7345.0 –215.0 7755.0 6375.0 1.5 32.4 6551.8 115 Kaz Minerals 797.6 –35.4 965.8 430.5 - 15.9 3563.0 94 Royal Mail 508.4 +41.3 508.4 369.9 4.5 14.2 5084.0 calculated from the most recent reported dividends and earnings per share, 171 Dechra Pharma 2382.0 +54.0 2400.0 1497.0 0.8 85.3 2219.4 58 Kingfisher 349.4 –4.7 368.1 288.0 3.0 13.3 7553.6 124 RPC 837.0 +17.4 1075.0 720.5 2.9 16.4 3452.0 using trailing 12-month figures. 52-week highs and lows are end of day. 129 Derwent London 2882.0 –63.0 3118.0 2495.0 1.8 30.1 3212.0 130 Ladbrokes Coral 165.8 –5.0 188.0 111.3 1.8 - 3177.0 74 RSA Insurance 622.0 –0.4 666.5 570.5 2.6 55.5 6360.5 nc = no change Data provided by Morningstar.Any enquiries please contact: 7 Diageo 2513.5 –45.5 2725.0 2201.5 2.5 19.7 62461.6 56 Land Securities 986.4 –24.0 1208.5 917.0 4.3 42.8 7800.0 55 Sage 738.2 –20.4 821.4 615.5 2.0 31.0 7979.0 [email protected]