The Sun - Market Report - 21 Dec 2006

Industry comment

Published: 20 December

Type: Industry comment

Year: 2007

NUCLEAR electricity generator BRITISH ENERGY surrendered 35.5p to 538.25 on admitting repairs at two power stations would continue until March.

This was the worst scenario sketched out by BE relegated from the FTSE-100 last month in a recent trading update.

Overall, the premier index dropped as resources stocks fell, with copper miner ANTOFAGASTA (dn 11.5p to 508) the top blue-chip faller.

Among Footsie winners, ROLLS-ROYCE gained on a contract win, while VODAFONE rose as Indian papers claimed it may buy the country's No4 mobile operator.

On the second line, BRITVIC fizzed up 12.5p to 293.5 on confirmation PERMIRA has bought a 9.2 per cent stake as reported here yesterday, while online estate agency RIGHTMOVE added 14.5p to 398 as takeover talk continued.

But coatings firm BODYCOTE INTERNATIONAL gave up 8p to 229 on a lukewarm trading update.

Lower down, INDEPENDENT INTERNATIONAL INVESTMENT RESEARCH firmed 4.5p to 13.25 on a trading update, while REAL ESTATE INVESTORS took on 1.125p to 9.5 as Asian property entrepreneur Paul Bassi was named chief executive.

On its debut, VERTU ? the motor dealer led by former REG VARDY chief Robert Forrester ? rose 3.5p to 63.5 while boiler technology specialist SABIEN rose 2.5p to 54.5.

And investment fund PHAUNOS TIMBER rose 4.5 cents to $1.045.

GOLDMAN SACHS has paid its chief executive Lloyd Blankfein a bonus of £27.2million, the biggest on Wall Street this year, with £13.9million in cash and the rest in stock and options.