12 The Sunday Times February 4, 2018 BUSINESS

Oliver Shah LETTERS

Presidents Club’s all-male pensions. The former boss of Send your letters, including Imagine multiplying that in the present arrangements, number of people falling Rugby star has last laugh over ‘troll’ audience to bid for a course the Pension Protection Fund full name and address, across the country. Freeing with all the cost and waste asleep with a lit cigarette has of plastic surgery at a Harley (PPF), the industry-funded to: The Sunday Times, up time and resources by they create. declined and electrical Why was an England rugby “aggressive trolling” under Street clinic that lost him the lifeboat, is set to chair the 1 London Bridge Street, changing approach will have David Dunbar, Evesham, appliances have gained player tweeting about the the Twitter alias gig. He reportedly roared: investment committee at London SE1 9GF. Or email: a beneficial effect on patients Worcestershire moulded plugs. resignation of the chairman @havingalaugh3 — mainly “A boob job for the missus — the British Coal Staff [email protected] and waiting lists. Consequently, fire stations of the Association of criticism of his performances ten grand to get me started!” Superannuation Scheme. Letters may be edited Dr Ralph Rogers, consultant in David Smith let the NHS have been closed, retiring Mortgage Intermediaries last on the pitch, but also more Rubenstein, 61, stood orthopaedic and sports management off too lightly. firemen not replaced, and week? Even by trade body personal abuse. down from the PPF last medicine, Harley Street, “Excessively bureaucratic” existing firemen upskilled to standards, the AMI is a niche The rugby star said he Property boys month after an eight-year How to make the NHS London W1 may fairly describe the take on new activities. organisation — not one you complained to Bunton’s stint that culminated in the fit and healthy organisation overall, but it is The NHS has not adapted would expect to pique the employer, Bath mortgage tone it down famous battle with Green David Smith is right that “a David Smith omitted a few rich in data and ease of to changing situations. The interest of Freddie Burns, 27, company London & Country Speaking of that highly over BHS’s pension deficit cash injection alone won’t other possibilities for easing communication across its number of babies born is at a the Bath fly-half with 10 (L&C). Bunton has now salubrious evening in the (Green eventually paid up). cure NHS ills” (Economic the perennial crisis. constituent parts. There is no 10-year low, while citizens England caps to his name. resigned from L&C and the Dorchester hotel, an unusual Rubenstein, who is already a Outlook, last week). Of his 1. Introduce non-intensive excuse for best practice in born back in the 1940s are After a bit of digging, the AMI, although neither mood of self-restraint is non-executive on the board five alternatives for care centres for the patients, clinical and administrative making greater demands on resignation of Patrick organisation would already in evidence as the of the insurer , is now supporting the health service mainly old, who don’t need areas not to be identified, the NHS. There should be Bunton, 40, becomes a comment on Burns’s property industry prepares said to be contemplating a — both in crisis and long term the intensive and expensive disseminated and insisted more provision for the elderly whole lot more interesting. allegations. Coincidence? for its annual booze-up in the portfolio career. — introducing genuine treatment of hospitals but are upon with great rapidity. and less maternity provision. According to a tweet South of France. One thing’s for sure: the efficiency improvements is not ready to go home. They An avoidable death in any All this has been known for by Burns, Bunton had Mipim is traditionally a erstwhile Lehman Brothers the most sustainable. would also help with many of organisation would normally many years. Unless sensible orchestrated a campaign of And the Oscar bacchanalian affair where banker will be navigating A root-and-branch review the seasonal disorders lead to formal investigation long-term planning is brought 20,000 agents and calmer waters in his new role. would demonstrate areas of currently seen at hospitals. and castigation of managers, in to the NHS and resources gavel goes to . . . developers knock back warm At the last count, the British clinical practice where 2. Introduce a proper but there are thousands of are adapted to the needs of The organisers of last week’s lager and dredge up their Coal scheme had a healthy advances already in use in the winter strategy in advance of such deaths in the NHS every society, these perpetual cries JUST SAYING . . . IFR banking dinner — known O-level French. But in the surplus of £9.4bn. private sector could be the annual onslaught, with year with no comparable of “not enough money’ will as the City Oscars — must aftermath of the Presidents introduced in the NHS, saving additional wards in disused process of accountability. continue ad infinitum. If we are serious have been keen not to be Club, the chairman of one significant time and money facilities and lucrative The global airline industry Chris Betts, Gateshead, tarnished with the same private property company TWITTER POLL while giving patients a temporary contracts for went though last year without Tyne and Wear about these brush as the Presidents Club. feels the need to clarify that positive outcome. retired and other non-active a single fatality on a things, why not The former Channel 5 lunch on his yacht will Yes No My own discipline, health workers. commercial passenger jet Leicester is doing great Major League Baseball feature “nice” people only. innovative regenerative 3. Introduce optional flight. This shows what can be start-up business have a minister for presenter Jonny Gould, Another property tycoon, medicine, has the potential to payment for enhanced achieved with the right Last week’s headline a fixture on the London whose penchant for scantily 36% 64% delay or even prevent the facilities — a sort of NHS club mindset towards spreading “Birmingham, cradle of the trade for China? charity circuit, had been clad models has not gone need for joint replacement class. good practice. start-up revolution” was due to host the event’s unnoticed, is not even sure surgery. The NHS is still using 4. Roll out a national Peter Reeves, Hove, misleading. According to your “tombstone” auction, where he will attend this year. “If I surgical techniques that are, strategy based on best East Sussex table, 77% of start-ups banks compete to put their do, I think it’s best to go low- in many cases, unnecessary practice for non-emergency originate in London (187,250 names on a deal-style key,” he says. and expensive. medical support, to ease the A commercial organisation in total) and only about 5% announcement. However, A freedom of information pressure on A&E facilities. lives or dies depending on (12,108) in Birmingham. after a seven-year stint, the request shows that in London The Tory-dominated how it meets the needs of its Leicester, which came fifth The former Treasury 56-year-old was absent on Ruby’s easier life Was easyJet’s new, male alone, hospital trusts carried government of the past eight customers. However, changes with 5,942 new companies, minister and Goldman Tuesday evening, replaced boss Johan Lundgren right out 5,626 knee replacement years failed to grasp the in public services arouse has a similar propensity for Sachs chief economist by broadcaster and former at the coal face to take a £34,000 pay cut operations in 2016-17, with an health and care nettle. intense opposition. Look at start-ups to Birmingham Lord (Jim) O’Neill on how to Tory MP Gyles Brandreth. Clashes with Sir Philip Green to match the salary of his average waiting time of 114 Jeremy Hunt now has both the fire service. The number given that its population is grow trade with China, now Perhaps it was Gould’s clearly didn’t kill Alan predecessor, Carolyn days; and 5,215 arthroscopy under his control. It’s time for of fires in England has halved less than half the size. just 3% of our total exports gusto in encouraging the Rubenstein’s enthusiasm for McCall? @ST_Business procedures, with an average an imaginative remodelling of in the past decade as chip Alexander Johnston, Syston, waiting time of 113 days. the system to close the gaps pans have disappeared, the Leicestershire 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 £22.1m on £132.7m revenues former research analyst Matt USD > GBP 3.0% 3.1% No techs, in 2016. “Our thesis is that Earl went for the jugular. 7,800 CPI including housing current rate prev. month lurking in the Cardiff suburbs ShadowFall Capital and $1.41 is UK tech’s next large-cap Research published a note 7,600 V 0.01 2.7% 2.8% please, tech company,” wrote an claiming IQE appears reliant 12-month high: $1.43 low: $1.21 Retail prices index current rate prev. month analyst at brokerage Stifel. on two joint ventures — one in 7,400 we’re That meteoric rise caught Cardiff, another in Singapore 7,443.43 EURO 4.1% 3.9% EUR > GBP the eye of short-sellers, — for a substantial chunk of its 222.11 H:7,792.6 7,200 Average weekly earnings on prev. month on last year whose interest has leapt in profits: 42% in 2015 and 30% 2.90% L:7,093.6 £511 U0.2% U2.2% skittish the past six months on fears in 2016. Yet ShadowFall said 7,000 €1.13 that sales of Apple’s iPhone X IQE’s relationship with these FTSE 250 V 0.01 Unemployment current rate prev. month F M A M J J A S O N D J 12-month high: €1.20 British tech darlings are an will disappoint — and deflate joint ventures is a “somewhat low: €1.07 1.44m 4.3% 4.3% endangered species. More IQE’s bubble. By the end of circular state of affairs” — Source: Thomson Reuters YEN Manufacturing output on the year on last month often than not they get last week, 21% of the shares their only customer appears RISERS FALLERS YEN > USD : 162.3p, 55.1% on profit bought out once they achieve were out on loan, a proxy for to be IQE itself. Luceco: 90p, U 13.4% on sentiment V U3.5% U0.4% warning Interserve: 80p, V 31.4% on any size of note — à la ARM short interest, according to ShadowFall pointed out Low & Bonar: 61.1p, U 10.7% on confirming new boss Findel: 227p, sector sentiment Petra Diamonds: ¥110.09 Retail sales on the year on last month Holdings. Markit data. that losses have been piling U 9.1% on Christmas trading On The 61p,V 22.5% on slashed forecast IWG: 19,962.46 U 1.39 Beach: 537p, 8.9% on sentiment 225p, V 17.5% on takeover collapse 1.4% 1.5% In recent years IQE, the IQE has raised eyebrows up at the joint ventures. This 653.12 H:20,984.8 U 12-month high: ¥115.50 U V Royal Mail: 508.4p, U 8.8% on Vectura: 90p, V 16% on analyst rating low: ¥107.31 Cardiff semiconductor firm, before, through a strange might create a convenient 3.17% L:18,178.1 agreeing union deal AA: 127.5p, V 14.6% on sentiment UK trade latest 3 mths prev. 3 mths latest 12 mths has started to look like deal in 2014 when its chief situation “where IQE books OIL balance (£bn) -6.2 -8.3 -28.3 Britain’s next big tech thing. executive, Drew Nelson, used the profits and the joint DOLLARS/BARREL DOW JONES HANG SENG FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change Founded in 1988 and a share pledging facility to ventures retain the losses”, it product floated in 2000, it meandered borrow £1.9m in cash. He wrote. Without the cash from 25,520.96 32,601.78 1,523.21 $68.58 U0.5% U0.4% U1.5% along at a middling pace. bought back the shares for a these offshoots, IQE would 1,095.75 H:26,616.7 552.34 H:33,484.1 50.77 H:1,578.0 V 1.94 Budget deficit latest month prev. month year to date 4.12% L:19,831.1 1.67% L:22,997.5 3.23% L:1,425.0 12-month high: $71.28 (PSNB) in £bn Until last year, that is, when huge gain last September. have reported negative low: $44.35 8.7 7.8 48.1 speculation about its silicon On Friday a little-known cashflow in 2016. The attack NASDAQ SHANGHAI SENSEX GOLD wafers finding their way into short-selling outfit run by added to a recent sell-off in 7,240.95 3,462.08 35,066.75 DOLLARS/TROY OZ the next-generation iPhone IQE shares, which fell 3.3% to 264.83 H:7,505.8 96.05 H:3,587.0 983.69 H:36,444.0 sent the shares soaring. IQE 104.4p, valuing it at £788m. 3.53% L:5,616.4 2.70% L:3,016.5 2.73% L:28,070.8 $1,330.58 10-YEAR BOND YIELDS % Companies are generally Earl has pedigree. He V 22.01 discouraged from confirming 200p called out social housing S&P 500 CAC 40 ALL ORDS 12-month high: $1,359.26 variation 12 months 2,762.13 5,364.98 6,229.80 low: $1,200.04 high low they supply Apple, but IQE 150 company Connaught before 110.74 H:2,872.9 65.10 H:6,256.5 did little to quell the rumour. its collapse, and persistently 164.17 H:5,567.0 BITCOIN UK 1.57 U 0.14 1.64 0.72 Between January and 100 criticised before its 2016 3.85% L:2,271.7 2.97% L:4,733.8 1.06% L:5,635.1 DOLLARS November the shares almost 50 and 2017 profit warnings. His NIKKEI DAX S&P TSX US 2.84 U 0.18 2.85 2.02 quintupled and IQE’s warning on IQE is worth 23,274.53 12,785.16 15,606.03 $9,295,93 valuation climbed to almost 0 heeding. It is one tech darling V 2,183.57 JAPAN 0.09 U 0.01 0.16 -0.01 357.35 H:24,129.3 555.01 H:13,596.9 633.19 H:16,421.4 £1.4bn. All this for a company 2015 2016 2017 I’d give a wide berth. Avoid. 12-month high: $19,497.4 1.51% L:18,224.7 4.16% L:11,479.8 3.90% L:14,915.8 low: $919.5 GERMANY 0.71 U 0.15 0.71 0.16 that made adjusted profits of Source: Thomson Reuters @jcollingridgeST Price at 5pm Saturday

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) 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 5454.5 178 200.0 –0.5 214.5 187.0 3.9 - 2059.9 172 191.9 –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 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 - 6223.5 181 780.8 –27.8 1064.0 757.0 3.5 16.6 1999.8 157 611.4 –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 5810.7 160 745.0 –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 14729.6 102 585.6 –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 13413.2 121 454.4 –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 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 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 - 2942.7 127 657.0 –86.2 969.5 654.5 4.3 10.3 3321.8 176 640.0 –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 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 4151.3 190 271.2 –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 4736.0 191 365.0 –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 33314.1 110 486.0 –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 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 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 - 5527.0 164 777.5 –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 16555.6 194 956.5 –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 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 6778.2 162 776.4 –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 2954.9 155 196.0 –22.5 305.5 145.6 - - 2710.8 186 726.0 –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 3431.4 148 395.6 –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 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 61 128.6 –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 2392.4 112 549.0 –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 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 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 3552.3 161 288.5 –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 5720.8 158 576.8 –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 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]