uk trading & value indicator 20120224

8/3/2019 uk trading & value indicator 20120224

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24 February 2012

UK Trading &

ValueIndicator


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Intellisys www.intellisys.uk.com 24 February 2012

Page 2 of 25 Intellisys 24 February 2012

Contents

Market Pictures - Indices ......................................................................... 5FTSE 100 ................................................................................................ 5FTSE 250 ................................................................................................ 6FTSE All Share Index ................................................................................ 7FTSE AIM All Share .................................................................................. 8

Market Pictures Interest Rates ............................................................ 10UK Bank Lending Rates ........................................................................... 10Eurozone Lending Rates .......................................................................... 11US Federal Funds Rate ........................................................................... 12

Market Pictures Exchange Rates ......................................................... 13Market Pictures - Oil............................................................................... 15Aerospace & Defence ............................................. Over Valued 16Automobiles & Parts .............................................. Over Valued 16Banks ............................................................. Over Valued 16Beverages ........................................................ Over Valued 16Chemicals ........................................................ Over Valued 16Construction & Building Materials .............................. Over Valued 17Electronics & Electrical Equipment ............................. Under Valued 17Engineering & Machinery ........................................ Over Valued 17Food & Drug Stores ............................................... Under Valued 18Food Producers & Processors ................................... Over Valued 18General Retail ..................................................... Over Valued 18Health .............................................................. Over Valued 18Household Goods & Textiles .................................... Under Valued 18Information Technology & Hardware .......................... Over Valued 19Insurance ........................................................ Over Valued 19Leisure & Hotels .................................................. Under Valued 19Life Assurance .................................................. Over Valued 19Media & Entertainment .......................................... Under Valued 20Mining .............................................................. Under Valued 20Oil & Gas ........................................................... Under Valued 20Personal Care & Household Products .......................... Over Valued 20Pharmaceuticals & Biotechnology .............................. Under Valued 21Software & Computer Services ................................. Under Valued 21Speciality & Other Finance

......................................

Over Valued21

Support Services .................................................. Under Valued 22Telecommunication Services .................................... Under Valued 22Transport ........................................................ Under Valued 23Utilities ............................................................. Under Valued 23DISCLAIMER ............................................................................................. 24


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IntroductionThe overriding purpose of this daily report is to provide users with a quick guidethat will identify those shares that merit their investment attention in an

increasingly time critical and information noisy trading environment.

The report is published daily and delivered to the subscribers personal email box,

typically, before the official open of the London Stock Markets.

Putting aside luck, Intellisys recognises that the timing and value of aninvestment are the two primary drivers behind a successful portfolio performance.

TimingIntellisys has invested considerably in identifying what it believes are the key

factors that influence investment timing. Having identified the key parameters,these have been established as rules that reflect market dynamics and cutthrough the daily investment noise.

Through this discipline, Intellisys has removed the emotional and sentimentalfactors as well as the daily pressures exerted upon primary stock promoters(analysts and traders) to find stories for their investment meetings.

From an analysis of a years data for 40 stocks within Intellisys stock coverage,the trading indicators appear to be, on average, about 77% accurate inidentifying good trading points as well as some 74% accurate for overall trend

correlation.

The following chart provides an indication the accuracy scores for each of the 40stocks analysed.

Individual Stock Recommendation & Trend Accuracy Scores

Source: Intellisys

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

Best Buy/Sell Trend


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Market Pictures - Indices

FTSE 100

Index PE

3,512.1

3,512.1

4,944.4

5,937.9

6,082.9

6,091.3

6,732.4

2000 4000 6000 8000

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100

7.0

7.0

7.9

10.2

14.1

18.2

18.2

5 10 15 20

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100 PE

% change % change

1M 2.7; 3M 15.5; 12M 0.2 1M -2.8; 3M 10.5; 12M -13.0

Yield RSI

2.9

2.9

3.0

3.3

3.9

6.0

6.2

1.0 3.0 5.0 7.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 100 DY

25.5

65.0

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE 100 RSI

% change

1M -3.5; 3M -14.6; 12M 11.7


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FTSE 250

Index PE

5,491.5

5,769.8

9,425.9

11,505.7

12,167.8

12,167.8

12,220.2

500 5500 10500 15500

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250

7.1

7.1

7.1

17.2

18.1

27.8

27.8

5 10 15 20 25 30

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250 PE

% change % change

1M 5.9; 3M 20.2; 12M -0.1 1M 4.1; 3M 142.9; 12M -6.6

Yield RSI

1.9

2.2

2.3

2.7

3.3

5.0

5.7

1.0 2.0 3.0 4.0 5.0 6.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE 250 DY

25.6

73.0

83.4

0 20 40 60 80 100

Lo

Last Close

Hi

FTSE 250 RSI

% change

1M -7.6; 3M -17.5; 12M 17.5


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FTSE All Share Index

Index PE

1,781.6

1,781.6

2,557.8

3,074.9

3,160.9

3,160.9

3,479.0

500 1500 2500 3500 4500

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE

7.4

7.4

8.5

10.9

14.6

19.5

19.5

5 10 15 20 25

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE PE

% change % change

1M 3.2; 3M 16.1; 12M 0.1 1M -1.9; 3M 21.4; 12M -12.5

Yield RSI

2.7

2.8

2.9

3.2

3.8

5.8

6.1

1.0 3.0 5.0 7.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE ALL SHARE DY

25.4

67.6

74.8

0 20 40 60 80

Lo

Last Close

Hi

FTSE ALL SHARE RSI

% change

1M -4.1; 3M -15.0; 12M 12.1


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FTSE AIM All Share

Index PE

373.8

373.8

657.8

821.1

938.2

968.3

1,236.6

200 700 1200 1700

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE

-203,906.0

-203,906.0

-203,906.0

100.6

211.5

1,240.8

1,439.5

-250000 -200000 -150000 -100000 -50000 0 50000

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE PE

% change % change

1M 7.5; 3M 22.3; 12M -11.3 1M -1.8; 3M 14.8; 12M -160.6

Yield RSI

0.4

0.5

0.6

0.6

0.8

2.1

2.1

0.2 0.7 1.2 1.7 2.2

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

FTSE AIM ALL-SHARE DY

16.5

82.3

91.9

0 50 100

Lo

Last Close

Hi

FTSE AIM ALL-SHARE RSI

% change

1M -7.8; 3M -22.4; 12M 7.3


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S&P 500

Index PE

676.5

676.5

1,099.2

1,363.5

1,363.6

1,363.6

1,565.2

400 900 1400 1900

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE

13.4

13.4

13.4

15.6

17.5

146.3

146.3

10 60 110 160

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE PE

% change % change

1M 3.6; 3M 17.4; 12M 4.3 1M 4.9; 3M 14.3; 12M -8.0

Yield RSI

1.8

1.8

1.8

2.1

2.4

3.2

3.4

0.5 1.5 2.5 3.5 4.5

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

S&P 500 COMPOSITE DY

30.0

69.9

81.6

0 20 40 60 80 100

Lo

Last Close

Hi

S&P 500 COMPOSITE RSI

% change

1M -3.2; 3M -9.5; 12M 18.6


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Market Pictures Interest Rates

UK Bank Lending Rates

UK

0.50

0.50

0.50

0.50

0.50

1.00

5.75

0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

UK CLEARING BANKS BASE RATE

% change

1M 0.0; 3M 0.0; 12M 0.0

UK Lending PE

200.0

200.0

200.0

200.0

200.0

100.0

17.4

10 60 110 160 210

5Y Hi

3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

UK CLEARING BANKS BASE RATE PE


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Eurozone Lending Rates

Eurozone

1.75

1.75

1.75

1.75

2.25

3.00

5.25

0.00 1.00 2.00 3.00 4.00 5.00 6.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

EUROZONE MARGINAL LENDING RATE

% change

1M 0.0; 3M -12.5; 12M 0.0

Eurozone Lending PE

57.1

57.1

57.1

57.1

44.4

33.3

19.0

10 20 30 40 50 60

5Y Hi

3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

EUROZONE MARGINAL LENDING RATE - PE


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US Federal Funds Rate

US

0.04

0.04

0.04

0.08

0.17

0.25

5.41

0.00 1.00 2.00 3.00 4.00 5.00 6.00

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US FEDERAL FUNDS RATE

% change

1M -11.1; 3M -11.1; 12M -46.7

US Lending PE

2,500.0

2,500.0

2,500.0

1,250.0

588.2

400.0

18.5

10 510 1010 1510 2010 2510 3010

5Y Hi

3Y Hi

1Y Hi

Last Close

1Y Lo

3Y Lo

5Y Lo

US FEDERAL FUNDS RATE - PE


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Market Pictures Exchange Rates

US$/

1.37

1.38

1.53

1.57

1.67

1.70

2.11

1.00 1.20 1.40 1.60 1.80 2.00 2.20

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US$/

% change

1M 0.7; 3M 1.2; 12M -3.3

/

1.02

1.06

1.11

1.18

1.21

1.24

1.50

1.00 1.10 1.20 1.30 1.40 1.50 1.60

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

EURO/

% change

1M -1.3; 3M 1.5; 12M 0.0


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Market Pictures Exchange Rates

US$/

1.19

1.19

1.27

1.34

1.48

1.51

1.60

0.80 1.00 1.20 1.40 1.60 1.80

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

US$/EURO

% change

1M 2.6; 3M 0.3; 12M -2.8

/

117.1

117.1

117.1

125.9

139.4

162.5

250.1

100.0 150.0 200.0 250.0 300.0

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

YEN/

% change

1M 4.8; 3M 4.8; 12M -6.1


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Market Pictures - Oil

Brent Monthly FOB US$/bbl

34.6

40.0

104.0

124.0

126.6

126.6

145.6

0 50 100 150 200

5Y Lo

3Y Lo

1Y Lo

Last Close

1Y Hi

3Y Hi

5Y Hi

Oil (Brent) Monthly FOB U$/bbl

% change

1M 12.31; 3M 15.33; 12M 12.16

RISK WARNING Recommendations and Target Prices

Intellisys does not make personal recommendations. The information in thispublication is provided solely to enable you to make your own investmentdecisions.

If you are unsure about dealing in shares and other equity investments, you

should contact your financial adviser as these types of investments may not besuitable for everyone.

The value of stocks and shares, and the income from them, can fall as well as riseand you may not get back the full amount you originally invested. If denominatedin a foreign currency, fluctuations in the exchange rate will also affect the valueof stocks and shares and the income from them. Past performance is notnecessarily a guide to future performance.


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Aerospace & Defence Over Valued

Stock Price 12M Lo 12M Hi ST Rec LT Rec Target Beta

BAE SYSTEMS 319.20 248.10 340.80 Neutral Strong Buy 625 0.65

CHEMRING GROUP 435.60 368.80 736.50 Neutral Buy 500 0.52

COBHAM 188.90 165.90 236.50 Neutral Buy 244 0.93

MEGGITT 391.00 305.00 397.60 Sell Sell 344 1.33

ROLLS-ROYCE HOLDINGS 806.00 552.19 806.00 Neutral Sell 605 1.08

SMITHS GROUP 1071.00 869.50 1353.00 Neutral Neutral 1068 0.71

ULTRA ELECTRONICS HDG. 1710.00 1305.00 1789.00 Neutral Sell 1316 0.59

UMECO 351.50 243.50 499.88 Neutral Neutral 368 0.79

Automobiles & Parts Over Valued


GKN 228.30 157.00 245.00 Neutral Sell 179 1.95

INCHCAPE 375.10 268.60 425.40 Neutral Sell 327 1.42

LOOKERS 57.50 47.00 72.75 Neutral Buy 74 1.34

PENDRAGON 13.25 6.80 19.71 Neutral Neutral 13 1.12

Banks Over Valued Stock Price 12M Lo 12M Hi ST Rec LT Rec Target Beta

BARCLAYS 241.00 138.85 319.85 Neutral Sell 153 1.84

HSBC HDG. (ORD $0.50) 575.40 463.50 711.10 Neutral Strong Buy 939 1.13

LLOYDS BANKING GROUP 36.57 21.84 65.78 Sell Strong Buy 163 1.75

ROYAL BANK OF SCTL.GP. 28.72 17.34 45.65 Sell Sell -18 1.28

STANDARD CHARTERED 1634.00 1169.50 1712.50 Neutral Sell 1143 1.70

Beverages Over Valued


BARR (AG) 1240.00 1031.00 1395.00 Neutral Neutral 1275 0.41

DIAGEO 1502.50 1112.00 1509.50 Neutral Sell 1350 0.54

SABMILLER 2567.00 1979.00 2567.00 Neutral Buy 2955 0.98

Chemicals Over Valued


CRODA INTERNATIONAL 2176.00 1551.00 2176.00 Sell Sell 1658 1.06

ELEMENTIS 166.50 107.50 187.40 Neutral Neutral 165 1.08

JOHNSON MATTHEY 2343.00 1523.00 2351.00 Neutral Sell 2131 1.45

VICTREX 1350.00 1025.00 1590.00 Neutral Neutral 1378 1.23

YULE CATTO 221.90 148.00 253.00 Neutral Strong Buy 333 1.27

ZOTEFOAMS 141.00 109.00 158.00 Neutral Strong Buy 218 1.03


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Construction & Building Materials Over Valued Stock Price 12M Lo 12M Hi ST Rec LT Rec Target Beta

BALFOUR BEATTY 284.30 214.60 357.30 Neutral Buy 319 0.85

BARRATT DEVELOPMENTS 142.10 67.50 142.10 Sell Sell 70 1.42

BELLWAY 806.50 540.50 818.00 Neutral Sell 730 1.01

BERKELEY GROUP HDG.(THE) 1387.00 960.00 1387.00 Neutral Neutral 1424 0.68

BOVIS HOMES GROUP 510.00 326.50 514.00 Neutral Sell 221 1.07

CARILLION 344.00 281.00 403.20 Neutral Buy 508 1.10

CLARKE (T) 41.25 35.50 105.00 Neutral Strong Buy 210 0.82COSTAIN GROUP 203.00 180.00 265.00 Neutral Strong Buy 806 0.59

GALLIFORD TRY 560.00 332.75 560.00 Neutral Neutral 595 1.02

KELLER 430.50 239.25 671.50 Neutral Neutral 451 1.31

KIER GROUP 1334.00 1097.00 1489.00 Neutral Strong Buy 3308 1.05

LOW & BONAR 63.00 38.00 76.75 Neutral Neutral 66 1.08

MARSHALLS 100.00 83.25 124.50 Neutral Sell 75 1.35

MORGAN SINDALL GROUP 651.50 510.00 725.00 Neutral Strong Buy 1513 0.90

PERSIMMON 621.50 374.00 621.50 Neutral Buy 686 1.07

REDROW 129.00 103.50 136.20 Neutral Sell 95 0.97

SIG 113.20 76.95 153.50 Neutral Sell 11 1.58

TAYLOR WIMPEY 50.05 28.71 50.05 Sell Sell 13 1.50

TRAVIS PERKINS 1071.00 715.00 1090.00 Neutral Buy 1179 1.87

WOLSELEY 2422.00 1404.00 2465.00 Neutral Sell 1896 1.41

Electronics & Electrical Equipment Under Valued


DIALIGHT 890.00 608.50 890.00 Sell Sell 482 0.74

DOMINO PRINTING SCIENCES 663.50 434.30 705.00 Neutral Neutral 683 1.17

E2V TECHNOLOGIES 146.50 86.75 146.50 Neutral Buy 170 1.32

INVENSYS 212.90 180.90 357.30 Neutral Strong Buy 405 1.48

LAIRD 170.00 127.90 207.00 Neutral Neutral 180 2.20

OXFORD INSTRUMENTS 1175.00 600.50 1175.00 Sell Sell 864 0.96

RENISHAW 1500.00 800.00 1886.00 Neutral Buy 1999 1.28

SPECTRIS 1731.00 1039.00 1731.00 Sell Sell 1311 1.40

BIOME TECHNOLOGIES 0.15 0.14 0.28 Buy Strong Buy 0 0.62

TT ELECTRONICS 182.00 120.50 208.00 Neutral Buy 260 1.59

XAAR 267.00 207.50 295.00 Neutral Sell 135 1.12

Engineering & Machinery Over Valued


AGA RANGEMASTER GROUP 76.50 62.50 138.00 Neutral Strong Buy 304 1.33

BODYCOTE 389.30 225.60 397.70 Neutral Sell 367 1.59

CASTINGS 293.50 252.50 358.00 Neutral Strong Buy 532 0.95

COOKSON GROUP 670.00 395.80 724.50 Neutral Buy 793 2.28

FENNER 481.80 280.00 481.80 Sell Neutral 477 1.41

HALMA 391.40 306.30 429.60 Neutral Neutral 381 0.76

HILL & SMITH 310.25 235.00 393.50 Neutral Strong Buy 606 1.39

IMI 973.50 636.50 1119.00 Neutral Buy 1415 1.42

METALRAX GROUP 7.77 7.25 12.00 Neutral Sell 6 0.85

MORGAN C RUCIBLE 358.00 224.00 358.00 Neutral Neutral 353 1.76

ROTORK 2099.00 1501.00 2099.00 Sell Sell 1846 1.00

SENIOR 198.50 132.60 198.50 Sell Neutral 192 1.76

SEVERFIELD-ROWEN 212.00 150.00 272.00 Neutral Sell 175 1.06

SPIRAX-SARCO 2101.00 1649.00 2101.00 Sell Buy 2334 0.86

VITEC GROUP 570.00 488.00 661.75 Neutral Buy 758 1.50

WEIR GROUP 2178.00 1375.00 2218.00 Sell Sell 835 1.40


18/25


19/25



Information Technology & Hardware Over Valued


ARM HOLDINGS 573.50 464.00 645.00 Neutral Strong Buy 1701 0.76

CSR 248.50 154.10 391.40 Neutral Strong Buy 7114 1.16

FILTRONIC 27.25 14.50 35.00 Sell Sell -276 0.64

IMAGINATION TEC HNOLOGIES 601.00 296.90 630.50 Neutral Strong Buy 1484 0.96

PSION 48.88 41.00 102.75 Neutral Strong Buy 3250 1.18

SPIRENT COMMUNICATIONS 137.70 105.80 160.00 Neutral Strong Buy 1546 1.00

WOLFSON MIC ROELECTRONIC S 187.00 96.00 290.00 Neutral Sell 28 1.04

Insurance Over Valued


ADMIRAL GROUP 1050.00 787.00 1754.00 Neutral Sell 470 0.52

AMLIN 357.60 270.60 427.00 Neutral Strong Buy 2477 0.47

BEAZLEY 149.00 109.60 150.10 Neutral Strong Buy 1298 0.52

CATLIN GROUP 425.20 334.00 449.00 Neutral Sell 69 0.32

HISCOX 404.60 340.50 424.70 Neutral Strong Buy 2460 0.48

JARDINE LLOYD THOMPSON 698.50 576.00 764.50 Neutral Strong Buy 1963 0.32

RSA INSURANCE GROUP 107.00 99.60 141.20 Buy Strong Buy 1032 0.45

NOVAE GROUP 358.00 285.00 410.00 Neutral Strong Buy 2329 0.51

Leisure & Hotels Under Valued


ARENA LEISURE 43.88 26.25 44.00 Neutral Sell 17 0.79

CARNIVAL 1897.00 1742.00 2766.00 Neutral Strong Buy 3634 1.09

ENTERPRISE INNS 50.00 26.50 98.10 Neutral Strong Buy 88 1.73

TUI TRAVEL 200.90 136.70 250.00 Neutral Strong Buy 599 0.98

FULLER SMITH 'A' 725.00 590.00 752.00 Neutral Sell 683 0.45

GREENE KING 506.00 410.00 521.50 Neutral Buy 714 0.87

LADBROKES 151.40 114.00 155.30 Neutral Strong Buy 251 1.00

ICTL.HTLS.GP. 1407.00 955.00 1440.00 Neutral Sell 942 1.31

MILLENNIUM & CPTH.HTLS. 489.30 371.20 588.00 Neutral Neutral 506 1.40

MITCHELLS & BUTLERS 265.00 215.60 336.80 Neutral Strong Buy 433 1.03BWIN PARTY DIGITAL ENTM. 162.00 100.60 204.00 Neutral Sell 136 1.28

PUNCH TAVERNS 11.50 9.14 15.70 Neutral Sell -152 1.29

RANK GROUP 141.00 109.50 153.70 Neutral Buy 203 0.98

RESTAURANT GROUP 292.30 254.90 335.00 Neutral Buy 358 0.88

WETHERSPOON (JD) 407.00 380.50 468.30 Neutral Strong Buy 696 0.73

WHITBREAD 1702.00 1409.00 1800.00 Neutral Neutral 1864 1.04

WILLIAM HILL 233.50 176.80 244.10 Neutral Buy 310 0.95

MARSTON'S 98.00 84.60 112.00 Neutral Strong Buy 197 1.25

Life Assurance Over Valued


AVIVA 370.80 275.30 477.90 Neutral Strong Buy 435 1.24CHESNARA 172.00 161.75 264.00 Neutral Neutral 177 0.59

LEGAL & GENERAL 121.90 89.80 123.80 Neutral Buy 83 1.66

OLD MUTUAL 160.10 98.05 160.10 Neutral Sell 160 1.63

PRUDENTIAL 723.00 509.00 777.00 Neutral Sell 316 1.74

ST.JAMES'S PLACE 369.00 294.00 376.00 Neutral Strong Buy 121 0.80


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Media & Entertainment Under Valued


AEGIS GROUP 170.90 116.17 173.50 Neutral Strong Buy 598 1.31

BLOOMSBURY PBL. 121.75 91.25 138.00 Neutral Strong Buy 318 0.51

BRITISH SKY BCAST.GROUP 687.50 618.50 850.00 Neutral Strong Buy 11328 0.61

CENTAUR MEDIA 39.75 32.50 67.25 Neutral Sell -535 1.01

DAILY MAIL 'A' 425.50 343.40 562.00 Neutral Strong Buy 7593 1.09

EUROMONEY INSTL.INVESTOR 771.00 522.50 771.00 Sell Strong Buy 9056 1.06

INFORMA 435.30 313.90 443.10 Neutral Strong Buy 3413 1.51ITE GROUP 240.60 157.70 258.20 Neutral Sell 32 1.39

ITV 77.80 51.65 93.45 Neutral Strong Buy 1199 1.50

JOHNSTON PRESS 7.50 4.11 12.75 Neutral Strong Buy 791 1.44

PEARSON 1233.00 1013.00 1255.00 Neutral Strong Buy 9965 0.68

PHOTO-ME INTL. 46.00 39.50 67.00 Neutral Strong Buy 1067 0.84

PINEWOOD SHEPPERTON 239.50 141.00 292.00 Neutral Strong Buy 1935 0.35

THOMSON REUTERS 28.55 26.21 39.25 Neutral Strong Buy 237 0.51

STV GROUP 107.00 76.25 168.00 Neutral Strong Buy 1539 0.78

ST.IVES 83.38 68.50 108.50 Neutral Strong Buy 2140 1.43

TRINITY MIRROR 49.00 37.50 84.25 Neutral Strong Buy 6579 1.56

UBM 599.00 416.00 712.50 Neutral Strong Buy 18914 1.31

WILMINGTON GROUP 86.50 78.50 165.00 Neutral Strong Buy 916 0.84

WPP 808.00 578.00 846.50 Neutral Strong Buy 7446 1.28

YELL GROUP 4.49 3.35 11.00 Neutral Strong Buy 737 1.34

Mining Under Valued


ANGLO AMERICAN 2693.00 2138.50 3360.50 Neutral Strong Buy 6847 1.76

ANGLO PACIFIC GROUP 328.80 237.90 350.00 Neutral Buy 399 0.93

ANTOFAGASTA 1344.00 900.50 1491.00 Neutral Sell 1156 1.39

BHP BILLITON 2088.50 1667.00 2631.50 Neutral Strong Buy 4915 1.42

LONMIN 1065.00 941.00 1880.00 Neutral Neutral 1092 1.90

RANDGOLD RESOURCES 7500.00 4425.00 7565.00 Neutral Sell 1969 0.31

RIO TINTO 3690.00 2712.50 4595.00 Neutral Strong Buy 5621 1.44

UK COAL 29.75 28.50 47.00 Neutral Sell -66 0.95

VEDANTA RESOURCES 1435.00 928.00 2518.00 Neutral Strong Buy 5736 2.08

XSTRATA 1209.50 764.00 1550.00 Neutral Neutral 1262 1.78

Oil & Gas Under Valued


BG GROUP 1523.00 1144.00 1564.50 Neutral Buy 2044 0.70

BP 495.35 363.20 499.25 Neutral Strong Buy 1383 1.06

CAIRN ENERGY 352.60 291.86 531.75 Neutral Neutral 368 1.35

FORTUNE OIL 10.75 9.00 14.75 Neutral Strong Buy 25 0.84

HUNTING 807.00 530.00 845.00 Neutral Buy 982 1.31

JKX OIL & GAS 134.50 120.50 335.10 Neutral Strong Buy 385 1.35

MELROSE RESOURC ES 131.00 95.25 297.00 Neutral Strong Buy 689 1.12

PREMIER OIL 441.90 310.00 521.00 Neutral Buy 563 1.36

ROYAL DUTCH SHELL A(LON) 2328.50 1883.50 2402.00 Neutral Strong Buy 6690 0.91

ROYAL DUTCH SHELL B 2365.00 1890.50 2489.00 Neutral Strong Buy 6753 0.93

SOCO INTERNATIONAL 336.10 278.00 400.00 Neutral Sell 213 0.50

TULLOW OIL 1540.00 945.50 1601.00 Neutral Sell 495 1.07

WOOD GROUP (JOHN) 724.00 469.90 725.00 Neutral Buy 801 1.33

Personal Care & Household Products Over Valued


MCBRIDE 135.50 108.75 151.06 Neutral Sell 109 0.86

PZ CUSSONS 310.00 285.00 387.90 Neutral Buy 369 0.76

RECKITT BENCKISER GROUP 3500.00 3015.00 3597.00 Neutral Sell 3180 0.34


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Pharmaceuticals & Biotechnology Under Valued


ARK THERAPEUTICS GP. 3.63 3.13 5.35 Buy Sell -7 0.93

ASTRAZENECA 2874.50 2543.50 3194.00 Neutral Strong Buy 11889 0.46

BTG 358.70 210.10 358.70 Neutral Sell 242 0.72

DECHRA PHARMACEUTICALS 555.50 433.00 579.00 Neutral Strong Buy 2036 0.30

GLAXOSMITHKLINE 1415.50 1138.50 1497.00 Neutral Strong Buy 2352 0.48

OXFORD BIOMEDICA 2.98 2.90 7.20 Buy Strong Buy 17 0.59

PHYTOPHARM 8.83 6.40 9.50 Buy Sell 1 0.92SHIRE 2231.00 1685.00 2300.00 Neutral Sell 1874 0.61

SKYEPHARMA 32.38 31.00 66.13 Neutral Strong Buy 326 0.71

VERNALIS 24.75 18.75 49.00 Neutral Strong Buy 102 0.81

Software & Computer Services Under Valued


TIMEWEAVE 24.25 22.50 27.00 Neutral Strong Buy 47 0.72

ANITE 111.00 57.75 111.00 Sell Sell 61 0.82

AVEVA GROUP 1722.00 1298.00 1799.00 Neutral Sell 952 1.46

COMPUTACENTER 412.50 324.70 490.00 Neutral Strong Buy 955 1.10

KOFAX 310.00 225.00 535.00 Neutral Sell 280 1.07

INNOVATION GROUP 20.50 15.25 23.00 Neutral Sell 18 0.89LOGICA 82.50 58.95 144.80 Neutral Strong Buy 195 1.36

MIC RO FOC US INTL. 450.00 242.90 458.40 Neutral Neutral 435 0.73

MISYS 330.00 214.90 420.20 Neutral Buy 395 1.33

PHOENIX IT GROUP 200.00 154.75 262.75 Neutral Strong Buy 475 0.86

RM 81.25 41.50 157.50 Neutral Strong Buy 382 0.46

FIDESSA GROUP 1689.00 1444.00 2109.00 Neutral Neutral 1685 0.81

SAGE GROUP 308.50 231.70 310.10 Neutral Neutral 317 0.64

Speciality & Other Finance Over Valued


ABERDEEN ASSET MAN. 252.90 167.80 265.80 Neutral Sell 173 1.09

BREWIN DOLPHIN 152.00 113.70 184.70 Neutral Sell 128 0.71CAMELLIA 9600.00 8800.00 10950.00 Neutral Strong Buy 17986 0.86

CHARLES STANLEY GROUP 268.50 240.00 350.00 Neutral Buy 303 0.93

CHARLES TAYLOR CNSL. 142.50 115.63 165.00 Neutral Strong Buy 221 0.70

CLOSE BROTHERS GROUP 737.00 590.00 875.00 Neutral Sell 375 0.81

F&C ASSET MANAGEMENT 70.60 56.05 86.30 Neutral Buy 87 0.92

HELPHIRE GROUP 2.10 1.36 17.38 Neutral Sell -0 0.66

HENDERSON GROUP 126.10 95.05 173.10 Neutral Sell 99 1.42

ICAP 390.00 311.60 541.50 Neutral Sell 330 1.08

INTERMEDIATE CAPITAL GP. 277.50 197.90 345.00 Neutral Neutral 285 1.65

INVESTEC 403.60 318.40 522.00 Neutral Sell 292 1.56

LONDON STOCK EX.GROUP 940.50 756.50 1076.00 Neutral Sell 777 1.17

MAN GROUP 129.00 104.50 288.70 Neutral Buy 188 1.25

RATHBONE BROTHERS 1262.00 977.00 1290.00 Neutral Neutral 1218 0.75

SCHRODERS 1580.00 1183.00 1906.00 Neutral Neutral 1670 1.33

SCHRODERS NV 1268.00 970.00 1554.00 Neutral Buy 1670 1.32


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Support Services Under Valued


ACAL 190.00 166.25 367.50 Neutral Strong Buy 351 0.92

AGGREKO 2205.00 1394.48 2205.00 Sell Sell 1298 1.18

AMEC 1088.00 740.50 1207.00 Neutral Buy 1322 1.02

ASHTEAD GROUP 247.50 99.40 252.50 Neutral Sell 131 1.50

BABCOCK INTL. 747.00 548.50 758.00 Neutral Neutral 726 0.55

BRITISH POLYTHENE INDS. 368.00 230.00 373.38 Neutral Strong Buy 1114 0.71

BUNZL 926.00 676.50 926.00 Neutral Buy 1048 0.54UK MAIL GROUP 268.00 192.25 318.50 Neutral Strong Buy 562 0.30

CAPITA 718.00 611.50 786.50 Neutral Neutral 729 0.41

COMMUNISIS 38.25 23.75 39.75 Neutral Strong Buy 101 0.73

COMPASS GROUP 635.50 512.50 641.00 Neutral Buy 801 0.73

BERENDSEN 462.00 402.70 568.00 Neutral Strong Buy 728 1.03

DE LA RUE 979.50 717.00 1001.00 Neutral Neutral 1072 #NA

DIGNITY 825.00 686.50 854.50 Neutral Buy 1003 0.21

DIPLOMA 391.50 263.50 425.50 Neutral Buy 496 1.02

ELECTROCOMP. 243.90 182.20 294.90 Neutral Strong Buy 387 1.03

FILTRONA 442.80 293.00 442.80 Sell Neutral 446 1.12

G4S 285.40 219.90 291.00 Neutral Buy 402 0.59

HAYS 87.30 58.85 130.00 Neutral Strong Buy 148 0.98

HOMESERVE 224.20 218.50 532.00 Buy Strong Buy 487 0.67

INTERSERVE 310.70 239.75 341.25 Neutral Strong Buy 821 1.36

INTERTEK GROUP 2267.00 1738.00 2267.00 Sell Sell 1685 0.86

JOHNSON SERVICE GROUP 28.50 25.25 36.00 Neutral Strong Buy 69 1.16

MANAGEMENT C NSL.GP. 35.00 27.75 45.50 Neutral Strong Buy 59 0.66

MENZIES (JOHN) 575.00 425.00 614.00 Neutral Strong Buy 1260 1.45

MICHAEL PAGE INTL. 462.20 323.00 567.00 Neutral Neutral 455 1.35

MITIE GROUP 266.10 195.90 271.00 Neutral Strong Buy 417 0.61

MOUCHEL GROUP 12.25 4.75 154.75 Sell Sell -306 0.89

OFFICE2OFFICE 146.00 114.00 166.50 Neutral Strong Buy 295 0.36

PAYPOINT 582.00 330.38 585.00 Neutral Buy 762 0.76

PREMIER FARNELL 219.40 144.50 308.80 Neutral Strong Buy 367 1.21

REGUS 112.30 64.00 119.00 Neutral Sell 72 1.41

RENTOKIL INITIAL 81.05 58.20 100.90 Neutral Sell 52 1.31

REXAM 416.00 299.80 416.00 Neutral Buy 547 0.88

RICARDO 365.00 325.00 410.00 Neutral Strong Buy 566 0.81

ROBERT WALTERS 222.75 158.25 336.00 Neutral Strong Buy 361 1.21

RPC GROUP 391.40 231.50 393.20 Neutral Buy 462 0.81

RPS GROUP 229.20 156.60 253.00 Neutral Buy 308 1.58

SERCO GROUP 556.00 458.00 618.50 Neutral Buy 695 0.57

SHANKS GROUP 106.60 90.80 130.90 Neutral Strong Buy 170 1.45

SPEEDY HIRE 28.75 18.50 34.00 Neutral Sell -8 1.30

TRIBAL GROUP 76.75 36.25 77.00 Neutral Sell -333 0.60

TRIFAST 42.00 36.25 52.88 Neutral Strong Buy 65 0.88

VP 252.25 191.00 256.50 Neutral Strong Buy 605 0.88

WYG 49.00 47.00 1125.00 Neutral Sell -9123 0.76

WSP GROUP 251.00 160.00 385.00 Neutral Strong Buy 593 0.96

Telecommunication Services Under Valued Stock Price 12M Lo 12M Hi ST Rec LT Rec Target Beta

BT GROUP 215.50 161.00 216.00 Neutral Buy 257 0.93

CABLE & WIRELESS COMMS. 34.60 31.25 51.20 Neutral Strong Buy 137 0.68

INMARSAT 483.30 389.30 685.50 Neutral Sell 381 0.51

KCOM GROUP 70.75 58.50 84.00 Neutral Buy 82 1.27

TELECOM PLUS 639.50 440.00 802.00 Neutral Sell 453 0.04

VODAFONE GROUP 173.50 155.05 182.70 Neutral Buy 192 0.63


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Transport Under Valued


BBA AVIATION 204.30 156.00 223.40 Neutral Sell 168 1.40

BRAEMAR SHIPPING SVS. 379.50 282.00 505.00 Neutral Strong Buy 661 0.95

CLARKSON 1150.00 1015.00 1355.00 Neutral Buy 1599 0.81

EASYJET 454.30 301.00 476.10 Neutral Buy 549 0.78

FIRST GROUP 295.50 295.50 371.30 Buy Buy 427 1.08

FISHER(JAMES)& SONS 550.00 440.50 574.00 Neutral Sell 343 0.82

GO-AHEAD GROUP 1274.00 1190.00 1598.00 Neutral Buy 1792 0.94NATIONAL EXPRESS 219.40 201.60 270.20 Neutral Sell 185 1.29

NORTHGATE 240.00 190.90 346.70 Neutral Strong Buy 383 1.37

STAGECOACH GROUP 269.50 199.97 287.40 Neutral Sell 210 0.90

WINCANTON 84.75 56.00 139.75 Neutral Strong Buy 174 0.83

Utilities Under Valued


CENTRICA 296.20 278.80 340.10 Neutral Neutral 303 0.50

NATIONAL GRID 647.00 543.50 649.50 Neutral Buy 783 0.56

PENNON GROUP 697.00 584.50 737.50 Neutral Sell 625 0.61

SEVERN TRENT 1535.00 1375.00 1600.00 Neutral Sell 1353 0.48

UNITED UTILITIES GROUP 601.00 551.00 637.00 Neutral Neutral 614 0.59


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uk trading & value indicator 20120224

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