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12 The Sunday Times November 5, 2017 BUSINESS

Andrew Lynch LETTERS

women in the House of Robertson at a dinner in Send your letters, including Labour’s possible tax plans; points, businesses are also Farewell to Helen Alexander Lords, a 500-year-old last week. SIGNALS full name and address, it’s about getting the right providing a service to their institution, than there are “There’s a lot of ideas that AND NOISE . . . to: The Sunday Times, home for a business, its staff employees — which could be Dame Helen Alexander was business. Back in 1997, when [on a percentage basis] in make sense on sharing . . . 1 London Bridge Street, and its future. treated as a benefit in kind by renowned for her fastidious she and her business partner the tech sector. Brilliant,” It’s fine sharing a taxi or it’s London SE1 9GF. Or email Steve Dally, chief executive, the Treasury. If this resulted approach to time-keeping Brent Hoberman were she laments. fine sleeping in a hotel bed [email protected] BCMS Corporate, Newbury in a temporary revival of the and attention to detail. pitching lastminute.com, a which someone else slept in Letters may be edited high street (by stalling the So it was at her packed venture capitalist looked last night,” said the 59-year- Nudge, nudge, wink, wink — growth of the online memorial service last week past her and asked Ey up, we’ve lost old former boss of Rolls- is this the City after Brexit? channel), this could benefit in St James’s Church, Hoberman: “What happens Royce Motor Cars. “I’ve no It isn’t that easy to find The desperate attempt of the chancellor’s rate take. Piccadilly, which the former if she gets pregnant?” our top hombre problem saying, ‘I’ve a Mini ‘serious’ buyers Financial Conduct Authority Stephen L Sidkin, chairman of CBI president had planned — Not much has changed in Ay caramba! The biggest law and my daughter and son Luke Johnson asserted last chief Andrew Bailey to drive a the Fashion Law Group and leaving her husband Tim tech, says Baroness Lane- firm born in Yorkshire, DLA using it.’ [But] do I want 40 week that when selling a coach and horses through partner at, and on behalf of, Suter to choose the music. Fox, 44. “I am surprised that Piper, has lost its Spanish other people using it today?” business he prefers 10 stock market rules in order to Fox Williams, solicitors, Alexander, who lost her an industry that did not exist senior partner and global So much for the sharing “serious” buyers to 50 with a let Saudi Aramco list on the London EC2 battle with cancer in August 30 years ago has managed to co-chairman, Juan Picon, economy! “vague interest”. That misses aged just 60, drew an so entirely replicate the after less than two years. the point — certainly for the makes depressing reading The problems stored up by impressive crowd ranging power structures of every What’s more, the señor The pastor’s daughter who vast majority of business (“Fresh row looms over Saudi rock-bottom interest rates from Nick Clegg to business single previous industry that has decamped with a couple What Price a puts the fear of God into owners who want to sell but listing”, last week). David Smith’s article last leaders such as Lords has ever been created, so of amigos to arch-rival Silicon Valley: Tom Baldwin don’t hold an interest in a That the government week on the possible interest Browne and Turner, Sam quickly. There are more Latham & Watkins. The books sensation? on the EU’s competition high-profile brand such as brought pressure on him to rate increase raised the Laidlaw and ad man Robin travel involved in running Please share my Six Steps commissioner Margrethe Pizza Express, as he did. do so as a symbol of the UK’s concern that the longer rates Wight in a shiny purple coat one of the world’s biggest law Guide to your best CV, pleads Vestager The truth — from our post-referendum “openness remain at rock-bottom, the and matching patent shoes. JUST SAYING . . . firms got to Picon, 53. Mark Price, the author who experience of handling more to the world” is beyond greater the concern that the Sir Roger Carr, the BAE DLA’s other global co-chief formerly ran Waitrose. than 600 successful SME and belief. Is this what we will economy becomes chairman, offered the first We seek your executive Simon Levine — a Perhaps after 17 months as NEWS, PAGE 32 mid-market transactions in become post Brexit — an even dependent on them doing so. eulogy — a touching tribute close friend of Picon — said trade and investment sectors from media to sleazier version of Bermuda? The announcement of a to her kindness and resignation and he was “disappointed”. minister, Lord Price, 56, manufacturing — is that If so, I suggest a new motto quarter-point increase last calmness in adversity. should be focusing on his TWITTER POLL finding these 10 serious for the City: “Nudge, nudge, week marked nearly nine Her friend from St Paul’s ask the board own CV. But no, he’s buyers takes a lot of research wink, wink, I don’t see why years since the Bank of Girls School, Mary Oulton, to immediately Baby, you can’t pumping out books as if they Yes No across regions, sectors and not, squire”. England’s cut the rate to described how Alexander, are going out of style: borders. David Thorpe, New Malden 0.5%. In that time, house who chaired the Port of begin the drive my car Workplace Fables being the To get the best buyers for a prices have risen more than London Authority, took part search for The sharing economy is latest. But who makes money 46% 54% business entails generating a Here’s another way to boost 10 times income in some in the Queen’s diamond meant to be the curse of the out of books, I hear you ask — market, genuine competition the Treasury’s tax take areas, savings have been at a jubilee river pageant. a new chairman car industry. Yet Mini owners apart from JK Rowling? and looking far outside the The chancellor’s focus on a record low and debt levels Oulton texted to ask which don’t seem to be so keen on Now I come to think of it, obvious. tax clampdown on have been heading back boat she was on. “The one sharing after all. Price was signed up by The Equally, in our experience, freelancers (front page of towards the peak seen in the with The Queen,” her BMW launched a Mini car- Blair Partnership, the literary few entrepreneurial business Business last week) may pre-crash boom years. schoolfriend shot back. sharing scheme in Germany agent for, er, JK Rowling (and owners view the company cause him to miss another Surely the inaction in two years ago in which Pete Townshend and Sir they have built and grown opportunity with knock-on addressing those growing owners would let strangers Chris Hoy) in August. I Are you worried that the purely as something to benefits. The rise of digital problems has delivered an Martha’s rage at Hedge fund founder Sir pay to drive their cars. nervously await Chubby rise in interest rates to “offload” to the highest has affected businesses, unsustainable economy that Chris Hohn tells London “One thing we are learning Grocer and the Order of the 0.5% will expose the bidder. For these people, which now have to deal with is already over-dependent on blokey tech Stock Exchange chairman is that not many people want Checkout. cracks in the British selling up is a personal as well the daily arrival of online the status quo and will take Martha Lane Fox is no Donald Brydon to quit over to do it,” confessed BMW andrew.lynch@ economy? as commercial decision, and purchases made by staff and decades to put right. stranger to discrimination in chief Xavier Rolet‘s exit board member Ian sunday-times.co.uk @ST_Business the best deal isn’t just about delivered to their workplaces. Neil Bloomer, Bamburgh, price and even less about In acting as delivery Northumberland DATABANK INSIDE THE CITY JOHN COLLINGRIDGE THE WEEK IN THE MARKETS THE ECONOMY

FTSE 100 FTSE 100 DOLLAR Consumer prices index current rate prev. month interest from long-rumoured competition in aviation USD > GBP American predators EchoStar infects margins in its bread 3.0% 2.9% Inmarsat 7,600 and Dish Network. and butter industries. CPI including housing current rate prev. month A constellation of Shipping lines and 7,400 $1.31 2.8% 2.7% in peril on problems, from competition governments will question 0.01 to the woes of its rivals, has why they are letting Inmarsat 7,200 V Retail prices index current rate prev. month 12-month high: $1.37 the sea and depressed shares in the make 70%-80% profit 7,560.35 7,000 low: $1.20 3.9% 3.9% company, which was formed margins while airlines will 55.32 H:7,599.0 EURO Average weekly earnings on prev. month on last year in 1979 as the International tolerate only 40%-50%. 0.74% L:6,676.6 6,800 EUR > GBP in the air £507 U0.4% U2.2% Maritime Satellite Squeezed margins could in 6,600 Organisation. Inmarsat’s turn affect its dividend, which FTSE 250 Unemployment current rate prev. month N D J F M A M J J A S O With the launch of original mission was as a non- with a 7% yield is one of the €1.13 1.44m 4.3% 4.3% high-speed satellite governmental organisation to stock’s main attractions. For Source: Thomson Reuters W 0.00 Manufacturing output on the year on last month broadband on commercial provide satellite years Inmarsat’s stonking RISERS FALLERS 12-month high: €1.20 Lonmin: 72p, 25.6% on delayed low: €1.07 flights, Inmarsat ought to be communication for the growth prospects have : 396.5p, U 19.4% on US V U2.8% U0.4% flying high. shipping industry. Maritime allowed it to carry a $2bn approval Howdens Joinery: 468.9p, results : 770p, V 20% U 15.1% on revenue boost. Zotefoams: on profit warning Nanoco: 24.3p, YEN Retail sales on the year on last month Airlines are tripping over still makes up more than 40% (£1.53bn) debt burden while 20,472.38 393.5p, U 12.4% on trading upgrade V 12.6% on sentiment Debenhams: YEN > USD 41.3p, 11.8% on restructuring costs themselves to kit out jets with of revenues, but it remains in paying generous dividends — 326.32 H:20,472.4 Premier Oil: 72.5p, U 11.4% on North V U1.2% V 0.8% Sea push Fenner: 359p, U 11.2% on Convatec: 182p, V 8.8% on competition wi-fi. From BA owner IAG to the doldrums amid an $228.5m last year. 1.62% L:17,068.0 broker upgrade concerns UK trade latest month prev. month latest 12 mths Lufthansa, they are all racing ongoing global glut of cargo That hasn’t been a problem ¥114.06 balance (£bn) -5.6 -4.2 -38.9 to install the networks that ships and depressed prices. while free cash flow was high, DOW JONES HANG SENG FTSE EUROFIRST U 0.39 Gross domestic latest quarter prev. quarter annual change will allow passengers to The downturn is nothing but Inmarsat’s hefty cash 12-month high: ¥118.66 product watch films, shop online and new, but aviation was meant burn, as it ramps up its 23,539.19 28,603.61 1,558.13 low: ¥101.15 U0.4% U0.3% U1.5% post Facebook status updates to pick up the slack. aviation business, suddenly 105.00 H:23,557.1 164.76 H:28,798.8 11.46 H:1,564.5 Budget deficit latest month prev. month year to date 0.45% L:17,883.6 0.58% L:21,488.8 0.74% L:1,292.2 OIL at 35,000ft. What analysts at leaves its dividend looking DOLLARS/BARREL (PSNB) in £bn 5.9 4.7 32.5 With contracts and investment bank Numis fear, exposed. Numis analysts NASDAQ SHANGHAI SENSEX commitments to hook up however, is that fierce reckon divis will not be 6,764.44 3,371.74 33,685.56 1,300 planes, and a pipeline covered by free cash flow 63.17 H:6,765.1 45.07 H:3,421.1 528.34 H:33,733.7 $62.07 of about 3,000, Inmarsat until 2023 — meaning it is Inmarsat 0.94% L:5,034.4 1.32% L:3,016.6 1.59% L:25,717.9 U 1.63 10-YEAR BOND YIELDS % should be on a roll, thanks to partially using debt to fund 12-month high: $62.23 its network of 13 satellites. Yet £11 payouts. S&P 500 CAC 40 ALL ORDS low: $43.57 variation 12 months its share price has almost Calling time on dividend 2,587.84 5,517.97 6,030.32 GOLD high low 9 6.77 H:2,588.4 61.04 H:6,037.9 halved since the late 2015 growth might not be a such a 23.84 H:5,536.4 DOLLARS/TROY OZ UK 1.27 V 0.09 1.56 0.92 peak. Last year the satellite bad idea, allowing its finances 0.26% L:2,083.8 0.43% L:4,344.9 1.02% L:5,138.9 7 company was ousted from room to breathe, but that NIKKEI DAX S&P TSX US 2.33 V 0.07 2.64 1.72 the FTSE 100, and it ended will require patience from 22,539.12 13,478.86 16,020.16 $1,267.80 last week at 594.50p, valuing 5 investors, who have endured JAPAN 0.06 V 0.01 0.16 -0.08 530.67 H:22,540.3 261.32 H:13,505.0 66.65 H:16,105.9 V 1.89 the company at £2.76bn. At 2016 2017 a bumpy ride. Avoid. 12-month high: $1,347.38 2.41% L:16,111.8 1.98% L:10,174.9 0.42% L:14,481.6 GERMANY 0.36 V 0.02 0.59 0.09 that level it could elicit Source: Thomson Reuters @jcollingridgeST low: $1,126.52

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) 49 3i Group 967.5 +21.5 969.5 604.5 2.7 - 9439.1 97 Direct Line Insurance 365.5 –3.9 411.3 333.8 4.0 15.8 5025.6 34 Legal & General 272.8 +4.3 276.0 207.7 5.3 10.6 16246.2 50 Schroders 3497.0 +33.0 3512.0 2765.0 2.5 20.0 9338.0 188 197.5 –0.3 208.5 183.0 4.0 - 2027.4 197 163.0 –14.5 366.7 163.0 - 7.7 1879.9 13 Lloyds Banking Group 67.4 –1.5 73.1 55.5 4.0 15.7 48359.0 74 Scottish Mortgage 456.4 +12.8 456.4 304.2 0.7 - 6364.5 91 Admiral 1866.0 –64.0 2178.0 1732.0 2.8 23.4 5314.0 92 EasyJet 1314.0 +41.0 1431.0 914.5 4.1 21.0 5219.3 40 London Stock Exchange 3744.0 –50.0 3983.0 2621.0 1.1 44.2 12983.6 87 Segro 548.0 +18.0 554.0 403.3 3.0 7.8 5471.2 166 981.0 +51.5 1064.0 765.0 2.8 20.1 2512.6 135 709.0 +5.0 709.0 360.0 1.7 34.1 3130.6 132 Man 194.7 +4.9 194.7 112.7 3.6 - 3225.2 96 Severn Trent 2131.0 +33.0 2553.0 2072.0 3.8 15.3 5030.4 163 Alliance 747.0 +6.5 747.0 569.5 1.8 - 2601.3 106 Evraz 294.6 +1.4 335.2 173.2 - - 4218.8 90 Marks & Spencer 328.3 –17.9 395.5 312.9 5.7 45.6 5334.0 149 Shaftesbury 1006.0 +23.0 1016.0 872.5 1.5 23.2 2806.8 28 Anglo American 1485.0 +66.5 1496.0 959.4 - 14.9 20858.4 35 Experian 1604.0 +6.0 1705.0 1383.0 2.0 23.4 14988.0 103 595.0 +3.5 932.0 577.0 1.4 19.2 4385.2 17 Shire 3723.0 +123.5 5083.0 3523.0 0.6 27.0 33795.2 45 Antofagasta 990.0 +33.5 1061.0 531.5 1.4 39.3 9760.1 38 Ferguson 5360.0 +110.0 5360.0 4142.0 1.9 15.3 13565.0 110 526.0 +7.5 526.0 410.6 2.9 14.0 4080.4 33 Sky 946.5 +11.5 1007.0 750.5 2.2 23.7 16270.5 162 Ashmore 369.2 –11.0 388.4 274.1 4.5 15.6 2611.6 126 Foreign & Colonial 640.0 +13.0 640.0 509.5 1.6 - 3458.6 105 Melrose 219.1 –4.1 261.2 165.5 1.0 - 4253.2 86 Smith (DS) 528.0 +19.5 528.0 380.1 2.5 24.0 5634.9 44 Ashtead 1977.0 +35.0 1977.0 1217.0 1.2 19.8 9869.7 48 Fresnillo 1290.0 –12.0 1771.0 1091.0 1.8 21.7 9505.9 115 Merlin Entertainments 377.8 +0.1 537.0 368.1 1.8 18.2 3837.7 41 Smith & Nephew 1412.0 –16.0 1431.0 1067.0 1.7 18.7 12354.5 24 Associated British Foods 3333.0 –22.0 3371.0 2361.0 1.1 24.0 26386.5 102 G4S 286.5 +5.6 341.1 224.1 3.3 15.6 4445.3 142 Metro Bank 3651.0 +142.0 3834.0 2699.0 - - 2935.2 77 Smiths 1589.0 +28.0 1684.0 1370.0 2.7 11.2 6284.1 7 Astra Zeneca 5180.0 +158.0 5508.0 4007.0 4.1 22.1 65565.7 88 GKN 318.3 –2.4 376.5 299.6 2.8 22.7 5466.5 42 International 2669.0 +85.0 2671.0 1960.0 2.4 48.1 11612.2 174 Smith WH 2069.0 +2.0 2099.0 1447.0 2.1 21.1 2297.0 127 Auto Trader 348.7 +5.7 435.9 338.9 0.8 22.4 3392.0 6 Glaxo Smith Kline 1361.0 –5.5 1722.0 1351.5 5.9 28.8 66932.0 190 Millennium & Copthorne 612.5 +26.0 612.5 410.2 1.3 17.9 1989.0 85 Smurfit Kappa 2386.0 +144.0 2419.0 1738.0 3.0 16.1 5650.5 29 Aviva 509.5 –3.0 544.0 418.9 4.2 33.7 20609.6 11 Glencore 378.9 +11.6 385.2 237.8 0.7 32.8 54534.5 67 Mondi 1830.0 –36.0 2130.0 1511.0 2.8 16.2 6720.5 150 Sophos 605.5 –14.5 621.5 231.7 0.3 - 2790.6 108 817.5 nc 991.0 795.5 3.2 13.2 4133.2 191 Units 826.0 +5.0 841.0 516.5 1.7 19.0 1957.3 199 Moneysupermarket 336.2 +16.9 361.3 265.0 2.9 24.2 1821.6 134 2672.0 +134.0 2834.0 1996.0 2.0 287.3 3185.4 30 BAE Systems 591.0 nc 677.0 539.0 3.6 17.8 18817.3 186 622.0 +12.0 739.0 587.5 1.6 - 2032.3 94 Morrison Supermarkets 219.0 –9.6 252.9 211.0 2.3 16.9 5115.1 104 Spirax-Sarco 5820.0 +40.0 5835.0 4125.0 1.3 32.9 4280.0 192 281.5 +10.8 298.4 253.5 0.3 - 1941.6 152 GVC Holdings 920.5 –5.5 947.0 594.0 - - 2767.6 194 372.2 +2.5 380.0 334.7 3.3 16.2 1904.7 177 Sports Direct International 400.9 +3.6 419.5 268.3 - 10.5 2214.5 20 Barclays 183.2 –0.6 239.2 181.4 1.6 15.4 31217.1 99 Halma 1239.0 +53.0 1239.0 886.5 1.1 36.2 4698.1 19 National Grid 918.4 +1.4 1157.5 898.7 5.2 17.6 31494.2 37 SSE 1367.0 –4.0 1577.0 1348.0 6.6 8.6 13784.9 68 Barratt Developments 654.5 –2.0 700.0 452.4 2.8 11.6 6590.8 107 530.0 +15.0 609.5 514.0 4.3 13.2 4204.1 172 Nex Group 623.0 –2.0 848.8 464.5 6.2 24.3 2365.8 147 SSP 596.5 +17.0 596.5 325.5 0.9 37.5 2834.7 26 Standard Chartered 723.5 –30.2 846.7 617.2 - 1566.0 23810.4 128 BBA Aviation 327.2 +17.1 327.2 246.1 3.0 22.5 3375.9 62 Hargreaves Lansdown 1582.0 +28.0 1582.0 1155.0 1.5 38.2 7503.7 69 Next 4473.0 –409.0 5320.0 3617.0 3.5 10.5 6577.8 183 Hastings 317.4 –0.3 325.0 211.9 3.1 22.4 2086.0 78 St James's Place Capital 1182.0 +6.0 1238.0 908.5 2.5 55.5 6247.9 161 Beazley 498.1 +0.8 525.0 361.9 2.1 13.6 2618.5 76 NMC Health 3089.0 +203.0 3089.0 1282.0 0.3 50.2 6310.4 155 Hays 187.7 +1.4 194.4 135.7 1.6 19.7 2708.5 54 Standard Life Aberdeen 435.4 –3.5 446.3 405.0 4.3 23.4 13045.6 100 3650.0 –48.0 3792.0 2351.0 3.0 10.6 4482.1 47 Old Mutual 193.4 +4.9 229.1 184.9 4.6 19.1 9534.6 148 HICL Infrastructure 158.0 +2.0 174.6 155.2 5.0 - 2814.8 189 TalkTalk 208.4 –0.1 218.0 152.5 7.6 34.7 1990.2 95 Berkeley 3699.0 –108.0 3978.0 2345.0 5.0 8.2 5058.8 146 Paysafe 586.0 +0.5 595.0 305.7 - 25.9 2841.7 160 Hikma Pharmaceuticals 1092.0 –31.0 2297.0 1092.0 2.0 20.4 2626.8 133 Tate & Lyle 690.0 +37.0 795.0 625.5 4.1 12.7 3206.3 21 BHP Billiton 1427.5 +66.0 1486.0 1117.0 3.0 16.8 30148.8 83 Pearson 693.5 –22.0 827.5 566.5 7.5 - 5704.6 111 1415.0 +10.0 1430.0 982.0 1.7 12.2 4043.2 70 Taylor Wimpey 200.1 –1.8 207.4 141.3 0.9 11.2 6547.2 109 B&M European 412.4 +11.3 412.4 232.5 1.2 28.8 4124.0 129 Pennon 804.5 +18.5 944.0 768.0 4.2 20.3 3350.3 158 867.0 +27.0 867.0 523.0 1.5 36.7 2693.8 178 Templeton Emerging Markets 789.5 +17.0 789.5 559.0 1.0 - 2186.4 200 940.0 +0.5 962.5 569.0 1.7 23.1 1799.7 167 Pershing Square 1039.0 +14.0 1250.0 959.0 - - 2494.9 141 Howden Joinery 468.9 +61.4 475.7 356.0 2.2 15.9 2951.3 36 Tesco 179.1 –6.4 218.7 166.5 - 221.1 14664.2 120 Booker 201.0 –2.8 212.3 168.0 2.3 23.4 3583.1 52 Persimmon 2831.0 nc 2890.0 1663.0 3.9 14.4 8737.2 1 HSBC 738.1 –10.2 769.5 594.8 5.1 35.4 147990.0 196 Thomas Cook 122.6 +2.8 126.9 69.8 0.4 175.1 1882.9 3 BP 516.8 +18.9 519.3 433.5 5.7 35.3 101703.9 138 Phoenix Group Holdings 767.0 +10.5 798.5 697.5 5.9 - 3013.2 168 IG Group 670.0 +28.0 848.5 450.7 4.7 14.5 2458.8 151 TP Icap 500.0 –33.0 544.5 383.5 3.4 31.6 2770.7 4 British American Tobacco 4995.5 –26.5 5643.0 4258.5 3.1 20.0 93138.6 169 Playtech 770.0 –192.0 1016.0 767.0 3.7 12.4 2443.6 125 IMI 1273.0 +27.0 1319.0 911.0 3.0 26.5 3462.3 112 1568.0 +26.0 1696.0 1342.0 2.8 313.6 3936.9 79 British Land 600.5 +10.0 674.0 579.0 4.8 40.8 6184.0 117 Polymetal International 887.0 +8.5 1095.0 731.5 2.0 11.8 3815.1 22 Imperial Brands 3038.0 –138.0 3933.5 3038.0 5.1 28.6 29125.6 59 Tui 1363.0 nc 1365.0 1001.0 4.1 16.9 8001.3 185 772.5 +15.5 778.5 523.5 3.2 18.1 2036.7 64 Paddy Power Betfair 8265.0 +715.0 9180.0 6665.0 1.6 - 6961.3 131 Inchcape 784.5 +13.5 880.5 590.5 3.0 16.3 3271.9 159 190.7 +12.7 333.6 145.6 - - 2637.5 25 BT 249.8 –13.2 396.9 249.8 5.8 15.5 24881.5 14 Prudential 1868.0 +5.5 1885.5 1304.5 2.3 17.5 48303.2 144 Indivior 396.5 +64.5 419.5 267.6 2.4 21.2 2858.7 145 UBM 725.5 +35.5 764.5 645.0 3.0 32.4 2857.9 139 BTG 779.0 +27.5 779.0 534.5 - 90.6 3004.9 81 Informa 708.5 +22.5 712.5 629.5 2.7 28.3 5838.1 71 Randgold Resources 6945.0 –465.0 8190.0 5470.0 1.1 31.5 6528.0 173 UDG Healthcare 949.0 +13.5 949.0 614.5 1.1 39.7 2356.6 60 Bunzl 2320.0 +1.0 2465.0 1988.0 1.8 27.0 7791.9 154 Inmarsat 594.5 +5.0 850.5 589.5 6.2 22.7 2711.1 15 Reckitt Benckiser 6583.0 –262.0 8108.0 6514.0 2.3 22.1 46274.8 10 Unilever 4278.0 +47.5 4548.5 3092.0 2.7 24.0 54763.4 55 Burberry 1915.0 –13.0 1928.0 1383.0 2.0 29.5 8395.0 56 Intercontinental Hotels 4363.0 +180.0 4468.0 3155.3 1.5 25.1 8289.3 170 Redrow 645.5 –2.0 664.0 382.8 1.5 10.2 2387.1 84 United Utilities 835.0 +5.0 1056.0 818.5 4.6 13.1 5693.8 175 Capital & Counties Properties 267.9 +11.9 324.8 253.1 0.6 92.4 2271.2 157 Intermediate Capital 962.5 –14.5 1006.0 595.0 2.6 12.9 2700.2 16 Relx 1741.0 +10.0 1741.0 1282.0 1.9 31.2 35944.3 165 Vedanta Resources 909.5 +26.5 1102.0 575.0 4.2 - 2520.2 124 524.0 –1.0 705.5 452.4 6.1 671.8 3496.6 53 Intertek 5370.0 +70.0 5425.0 3038.0 1.2 31.7 8666.7 116 Renishaw 5265.0 +270.0 5265.0 2416.0 0.9 37.3 3832.3 180 2524.0 +140.0 2524.0 1683.0 1.9 25.9 2165.8 43 Carnival 4975.0 –110.0 5380.0 3847.0 2.3 17.4 10616.1 39 International Airlines Group 621.5 –2.0 670.0 414.0 3.2 7.5 13038.0 80 Rentokil Initial 326.7 –5.9 335.8 206.0 1.0 8.8 6002.6 9 Vodafone 219.4 +3.8 231.5 190.5 5.5 - 58399.6 51 167.7 –2.4 235.8 165.8 7.2 16.8 9211.5 179 International Public Partnerships 161.0 –0.3 166.6 151.8 4.1 9.4 2173.2 114 Rightmove 4150.0 +32.0 4346.0 3631.0 1.1 30.4 3838.9 101 Weir 2045.0 –70.0 2115.0 1580.0 2.2 68.6 4463.2 198 683.0 +26.5 740.0 534.5 2.6 22.5 1849.8 140 Intu Properties 218.2 +4.1 294.0 212.7 6.3 19.5 2956.7 12 Rio Tinto 3725.0 +170.5 3759.5 2727.5 3.2 18.0 51320.6 65 Whitbread 3705.0 +16.0 4307.0 3408.0 2.6 14.4 6794.8 182 Close Brothers 1382.0 +1.0 1715.0 1273.0 4.2 10.8 2096.6 123 526.0 +5.0 627.5 486.0 4.1 10.8 3506.5 136 RIT Capital Partners 1978.0 +29.0 1979.0 1740.0 - - 3075.9 176 William Hill 260.9 +11.9 311.5 240.0 4.8 13.9 2238.0 130 Cobham 139.6 +0.6 174.6 110.7 1.3 - 3337.9 73 ITV 159.8 –4.2 219.6 153.0 4.1 14.4 6432.6 31 Rolls-Royce 977.0 +12.5 979.0 639.5 0.5 - 17978.2 193 1075.0 +15.0 1075.0 833.5 1.8 - 1913.3 46 Coca Cola HBC 2638.0 +63.0 2671.0 1615.0 1.3 32.5 9611.2 187 IWG 221.9 +12.9 365.2 208.1 2.3 15.4 2029.0 171 272.2 +2.2 272.3 194.6 1.9 31.3 2368.6 195 3282.0 +103.0 3351.0 1554.0 - 18.0 1886.4 23 Compass 1665.0 +27.0 1757.6 1370.7 2.0 23.8 27382.4 143 Jardine Lloyd Thompson 1316.0 +21.0 1316.0 947.5 2.5 24.4 2882.5 18 Royal Bank of Scotland 278.6 –7.2 285.8 185.0 - - 33086.7 98 Wood 731.5 +29.5 894.5 560.0 3.5 123.8 4957.3 121 Convatec 182.0 –17.6 344.0 182.0 - - 3551.7 122 JD Sports 362.9 +7.9 456.0 303.3 0.4 19.7 3531.9 2 Royal Dutch Shell A 2435.0 +108.0 2435.0 1928.0 5.9 32.3 109007.5 58 Worldpay 409.5 +9.0 430.4 256.6 0.5 48.8 8190.0 27 CRH 2793.0 –68.0 2920.0 2552.0 2.0 20.0 23357.4 66 Johnson Matthey 3503.0 +113.0 3503.0 2727.0 2.1 17.5 6779.5 5 Royal Dutch Shell B 2471.5 +85.5 2475.0 2017.5 5.9 32.8 92569.7 32 WPP 1318.0 +18.0 1921.0 1295.0 4.3 9.7 16797.5 82 Croda 4242.0 +222.0 4242.0 3072.0 1.7 28.9 5732.0 153 604.0 +13.5 604.0 393.4 2.4 19.5 2764.5 118 Royal Mail 378.9 –1.2 499.2 369.9 5.9 13.9 3789.0 156 CYBG 306.6 –6.8 315.8 260.0 - - 2706.7 89 Just Eat 800.0 +65.0 800.0 496.0 - 76.2 5434.4 113 RPC 942.0 –29.5 1079.0 720.5 1.9 25.6 3908.7 Price/earnings ratios are based on historic data, with yield and p/e values 72 DCC 7265.0 +65.0 7540.0 5860.0 1.4 32.3 6471.1 119 Kaz Minerals 825.0 +10.5 875.5 278.9 - 16.5 3685.4 75 RSA Insurance 617.5 –12.5 666.5 521.0 2.6 55.1 6314.5 calculated from the most recent reported dividends and earnings per share, 184 2190.0 +135.0 2190.0 1235.0 0.8 147.9 2040.6 63 Kingfisher 317.1 +6.8 369.7 288.0 3.3 12.1 6971.6 181 Saga 188.7 –3.6 215.3 182.7 4.5 13.9 2109.7 using trailing 12-month figures. 52-week highs and lows are end of day. 137 2748.0 +85.0 3007.0 2359.0 1.9 28.7 3062.7 164 Ladbrokes Coral 134.0 +9.7 135.8 111.3 2.2 - 2565.6 57 Sage 761.0 +23.0 761.0 599.0 1.9 33.6 8225.5 nc = no change. Data provided by Morningstar. Any enquiries please contact: 8 Diageo 2594.0 –14.0 2608.0 1956.5 2.3 24.1 65302.5 61 Land Securities 958.0 +2.5 1208.5 950.5 4.2 62.8 7575.4 93 Sainsbury, J 235.1 –7.9 281.7 228.7 5.0 14.2 5147.9 [email protected]