COMMENT
This Week's Market Movers

By David Kuo (TMFDragon)
December 9, 2005

London shares slipped back this week with oil companies tugging the index lower. At mid morning on Friday the FTSE was down around 0.2% at 5,528.

Biggest Movers in the FTSE 350 (as at Friday 10am)

Risers
1.	PartyGaming (LSE: PRTY)	+15.9%
2.	Virgin Mobile (LSE: VMOB)	+14.2%
3.	Regus (LSE: RGU)	+8.5%
4.	DS Smith (LSE: SMDS)	+7.8%
5.	WH Smith (LSE: SMWH)	+7.4%

Fallers
1.	Carillion (LSE: CLLN)	-9.1%
2.	Autonomy (LSE: AU.)	-8.8%
3.	Invensys (LSE: ISYS)	-8.2%
4.	John Laing (LSE: LNGO)	-8.1%
5.	Stagecoach Grp. (LSE: SGC)	-6.8%

Telecoms have been in focus this week with Virgin Mobile (LSE: VMOB) adding 14% to 355p on hopes that suitor NTL may increase its takeover offer. BT Group (LSE: BT.A) gained 2% 217p after it provided an upbeat assessment of its retail unit, and Vodafone (LSE: VOD) rose 4% to 128p on news that its ailing Japanese division is improving.

Vodafone also announced this week that HSBC's (LSE: HSBA) head honcho Sir John Bond will take over as its chairman next summer. HSBC fell 2% to 915p. Meanwhile, one of Barclays (LSE: BARC) most senior executives has also decided to call it a day. Barclays, which was static at 600p, said its UK chief Roger Davis has resigned.

Sticking with banks, HBOS (LSE: HBOS) notched up 5% to 919p on a positive trading update, and Royal Bank of Scotland (LSE: RBS) was unmoved at 1,688p after an in-line trading statement. Bradford & Bingley (LSE: BB.) gained 4% to 395p after it expects to comfortably beat profit estimates, but Standard Chartered (LSE: STAN) receded 5% to 1,202p on worries that costs were rising.

Car dealer Pendragon (LSE: PDG) rallied 4% to 511p after it improved its offer for Reg Vardy (LSE: VDY), which hardened 3% to 818p.In the meantime, rumours of a possible second bid for PD Ports (LSE: PDP) sent its shares 6% higher to 149p. However, Carillion (LSE: CLLN) crumbled 9% to 289p after winning Mowlem's (LSE: MLWM) hand in marriage. Mowlem was 5% stronger at 206p.

In other takeover action, LSE (LSE: LSE), up 2% to 610p, has spurned a takeover approach from Australia's Macquarie Bank, labelling the offer as "derisory". Elsewhere, ITV (LSE: ITV) plans to expand its online presence by buying Friends Reunited for £175m, and reports that Icelandic retailer Baugur may be behind an approach for Whittard of Chelsea (LSE: WOC) lifted its shares 18% to 87p.

Staying with beverages, investors were toasting Greene King's (LSE: GNK) 23% rise in mid-year profits. The brewer, which gained 1% to 720p, said the acquisition of Laurel pub chain had help to boost earnings. Smaller rival Hardy & Hanson (LSE: HDYS) bubbled up 3% to 707p after improved profits.

Turning to water, Severn Trent (LSE: SVT), which rose 4% to 1,052p, said first-half profits jumped 18% on the back of higher water bills. Profits were up at Pennon (LSE: PNN) and Bristol Water (LSE: BWG) too. Pennon gained 1% to 1,137p, and Bristol Water, which posted a 44% surge in profits, was 1% higher at 826p.

Other companies in the news this week included PartyGaming (LSE: PRTY), which firmed 20% to 142p on an upbeat trading update, and Protherics (LSE: PTI) rocketed 62% to 84p after clinching a deal with AstraZeneca (LSE: AZN). DS Smith (LSE: SMDS) surged 8% to 165p on better-than-expected results, but out-of-favour retailer French Connection (LSE: FCCN) slipped 3% on a profit warnings.

The Market Next Week

Carpetright (LSE: CPR), British Energy (LSE: BGY) and Mr Kipling owner HMV (LSE: HMV) report first-half figures in what appears to be an exceedingly quiet week for results.

Notable announcements next week

Monday: Treatt
Tuesday: Bodycote Intl., British Energy, Carpetright and La Tasca
Wednesday: Hays and RHM
Thursday: Avis Europe, MyTravel, Trinity Mirror and Whitbread
Friday: Minorplanet Systems

David owns shares in BT, Barclays and Vodafone.