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COMMENT
Biggest Movers In The FTSE 350 (as at 9am Fri)
Up
1.
Avis Europe (LSE: AVE)
+10.0%
2.
DX Services (LSE: DXS)
+9.8%
3.
Computacenter (LSE: CCC)
+8.3%
4.
Vedanta Resources (LSE: VED)
+7.7%
5.
Pendragon (LSE: PDG)
+6.9%
| Down | ||
|---|---|---|
| 1. | Misys (LSE: MSY) | -6.7% |
| 2. | Catlin Group (LSE: CGL) | -4.6% |
| 3. | Paladin Resources (LSE: PLR) | -4.5% |
| 4. | N Brown Group (LSE: BWNG) | -4.2% |
| 5. | Photo-Me Int'l (LSE: PHTM) | -4.1% |
The FTSE 100 index performed well in the run up to Christmas. By 9am on Christmas Eve, the blue-chip index was up 2% on the week at 4,790.
The housing market was the centre of attention again, with two housebuilders providing trading updates. Persimmon (LSE: PSN) gained 0.4% to 682.5p, while Wimpey (LSE: WMPY), slightly more cautious in tone, rose 0.7% to 406.25p.
Savills (LSE: SVS), the estate agent, was more upbeat. It said profits would beat expectations, plus announced a 20p special dividend. Its shares put on 9.7% to 510p, while rival Countrywide (LSE: CWD) nipped ahead 1.1% to 320p.
Software outfit Misys (LSE: MSY) eased 6.7% to 206.25p, despite a trading update that described "encouraging momentum". However, Capital Radio (LSE: CAP) climbed 6.8% to 432.5p, and GWR Group (LSE: GWG) gained 6.4% to 250p, after their merger deal was approved.
Big Food Group (LSE: BFP) ended the week up 1.6% at 94p, after recommending a 95p-per-share offer from Baugur. Meanwhile, the prospect of an additional offer, by Euronext, for London Stock Exchange (LSE: LSE) lifted its shares 3.9% to 577.5p.
Mining shares enjoyed a good week, buoyed by rising commodity prices. Anglo American (LSE: AAL) edged up 4.9% to 1,218p, and Vedanta (LSE: VED) rallied 7.7% to 384.5p. One notable exception was Trans-Siberian Gold (LSE: TSG). It plunged 20.7% to 117p, after owning up to project delays.
The announcement of the publishing date for the sixth Harry Potter book boosted shares in Bloomsbury (LSE: BMY) by 10.6% to 302.5p. Sticking with entertainment firms, HMV (LSE: HMV) nudged ahead 1.1% to 254.75p, after revealing a music downloading agreement with Microsoft (Nasdaq: MSFT).
Avis Europe (LSE: AVE) recovered 10.0% to 55p in the aftermath of last week's profit warning and dividend disappointment. Embattled contractor Jarvis (LSE: JRVS) soared 45.8% to 17.5p, after announcing a £25m property disposal and the sale of Tube Lines for £147m.
Cambridge Antibody Technology (LSE: CAT) leapt 15.7% to 731p, after a court ruling on product royalties went in its favour. MyTravel (LSE: MT.) edged up 4.0% to 5.7p, after its restructuring plans were approved and it sold a cruise ship.
The Market Next Week
No major companies are due to report in the last, shortened trading week of 2004. The London Stock Exchange opens at 8am on Wednesday 29 December and shuts at 12:30pm on Friday 31 December.
Fool HQ, however, will be shut all next week. Foolish articles will resume on Tuesday 4 January. Happy holidays!!