Saudi shares hit 20 months down fears of contagion of protest

The Saudi benchmark lost 20pc since reaching its 2010 high, there are market bears territory Photo: Reuters

The Tadawul all indexes reference share fell 6 8pc 5,539 points, with Saudi Arabia Basic Industries, manufacturer of petrochemicals most, 7 8pc of landslide.

The index has lost 20pc since reaching its 2010 high, taking into bear market territory.

"Reports of certain arrests of a cleric caused gout." It is now a great fear of contagion in Saudi, said Haissam Arabi, Chief Executive and Manager Gulfmena Alternative Investments funds. "However, things are not all in clear fact that continuing the fall in stocks." There is no clear answer at this time. »

Saudi authorities detained a clerc of Shi'ite in the Eastern Province after he called for a constitutional monarchy and of ending corruption and discrimination, human rights activists said Reuters Tuesday.

Minority of Shi'ite of Arabia, believed be 10pc-15pc of the Saudi population, 18 m has long complained of discrimination, a charge denied by the authorities.

"It is sell all levels." There are several rumors out there and it seems that investors of all the class and type are drawing a line on the markets, says Nadi Bargouti, head of asset management at the Shu'a Capital in Dubai.

"No single person, without unique portfolio can move markets to this extent." It is a complete shock. »

On 17 February, the Prince Talal Bin Abdul Aziz Al Saud, Member of the Royal family of Saudi Arabia, said that the Kingdom may see protests unless King Abdullah proposes reforms, according to the BBC Arabic TV.

The King has increased spending on housing by riyals (£ 7bn) on 23 February. It has increased the budget of the social security of billion riyals, ordered the creation of 1 200 jobs and make a cost of living allowance 15pc permanent employees of the Government.

Saudi Arabia is the world's biggest exporter of oil and the largest Arab economy. Gross won 0 9pc $97.81 US per barrel to 8 pm in e-commerce on the New York Mercantile Exchange.

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The months to come - January 2011

United Utilities, Steve Mogford will become Executive Director appointed at the beginning of January, ready to replace Philip Green when he steps on 31 March.

Economic growth between July and September, which will be unveiled on 22 December, should remain close to 0 8pc figure reported by the Office for National Statistics (ONS).

Accompanying data may show that the growth of the previous quarter was revised down a robust 1. 2pc quarter-on-quarter rate 1pc, since the output of the construction is more low than first thought.

Latest monthly meeting of the monetary policy Committee minutes are supposed to show that the nine members finishing the year still divided three ways to know if shake, hold or easing monetary conditions. The minutes will be published on 23 December.

Negotiation updates

December 20: Carnival (T4)

December 21: 888, PRC

December 22: information, Forth Ports

December 23: John Lewis, Savills

December 27: XChanging

Interim results

December 20: f. & C global smaller companies.

Economy

21 December: public sector finance statistics, GfK NOP consumer confidence survey

December 22: Q3 GDP, the Bank of England MPC minutes.
consumer trends

December 23: measurement of productivity Q3

Meetings

21 December: Davenham (AGM).
JP Morgan Japanese Investment Trust (AGM)

December 30: Yule Catto

In January, a raft of retailers will report on their trade in Christmas, with investors no doubt anxious to see if snowfall reaching sales during the critical period of feast. Retailers to update the market on their sales this month include Tesco, J Sainsbury, Game Group Marks & Spencer and following. As Arctic conditions still held in Great Britain, Howard Archer of IHS Global Insight has declared: "the return of snow and ice is a serious body for retailers."

The first day of work of the new year January 4 will be at the normal rate of VAT of 17 5pc to 20pc. To increase customers companies lead the official measure of inflation more high, with the Bank of England expected London 3 6pc.

Another month, another meeting again January 13 - Monetary Policy - Committee and nobody would expect interest rates to rise again. But the prospect of an escalation of his lowest 0 5pc record rate increases, some believe that inflation constantly above the target of 2pc erodes the credibility of the Bank.

It will be at the end of an era of aviation, January 20, which marks the last day of transactions in shares of British Airways, prior carrier merges with the Iberian Peninsula. Shares in the newly formed group of International Airlines will begin trading on January 24.

January 25, ONS will give its first reading of the manner in which the economic recovery is held during the last three months of the year, with snow disruptions in the unknown factor.

"While the latest data and surveys of reasonable overall economic activity, economic activity still seems slow to 0 5pc"
"quarter-on-quarter," said Howard Archer to IHS. This would signal that gross domestic product (GDP) increased by 1. 2010 global 8pc.

AstraZeneca will unveil its figures throughout the year on 27 January. In its third quarter results, Britain's second drug manufacturer revealed decreased 4pc revenues to $7. 9bn (Institute for £ 5), due to declining sales at United States combined with the absence of exceptional swine flu last year.

BSkyB will reveal its interim results on 27 January. In November, BSkyB has achieved its goal of achieving long-term
client TV 10 m. at the end of the year, OFCOM, dog care, communications is set to reveal its verdict on News Corp bid to buy satellite television channel that it has not already 61pc.

Throughout the year results

January 7: JP Morgan Indian Investment Trust

January 18: Chemring

January 31: SThree

Interim results

January 18: IG group SABMiller (Q3)

January 25: Misys Filtronic.
PZ Cussons

January 26: Renishaw

January 27: BSkyB

Negotiation updates

January 5: autonomy, then.
Domino

January 6: mode of JD sports, McBride, Cineworld, Costain, Hays, Prostrakan, Rathbone Brothers, Wellstream Holdings

January 7: Robert Walters, Ted Baker, the Group of restaurant, Clinton cards Mears

January 10: Persimmon, Michael Page, Black Entertainment

January 11: Tesco, marks & Spencer, Debenhams, Dunelm, Howden carpentry, try Galliford, Interserve, moneysupermarket.com, Topps tiles, Weir, Yule Catto, Computacenter

January 12: Ashmore, N Brown, Fenner, Greggs, GIS, Superglass.
Sainsbury J

January 13: Game Group, Associated British Foods, Retail Dixons, Halfords, HMV, Home Retail Group, the premier Foods, Mothercare, Barratt Developments, first group,
Booker, Dixons, Filtrona, Mecom, Northern Foods, Thortons

January 17: Taylor Wimpey

January 18: l ' Oréal, Experian, Carphone Warehouse,
Land Securities, Pearson

January 19: JD Wetherspoon, ASOS, Great Portland Estates, William Hill

January 20: Man Group, Wm Morrison, London stock
United Utilities, Invensys, Tullow Oil

January 25: Severn Trent, De La Rue

January 26: WH Smith, wise, Johnson Matthey

January 27: Cairn Energy

January 28: UK coal

Economy

January 4: VAT amounting to 20pc

January 5: construction of CIPS PMI for December

January 12: statistics UK trade, the Bank of England MPC meeting national consumer confidence index

January 13: interest rate decision, figure of industrial production monthly

January 14: price UK

January 18: monthly inflation figures

January 21: monthly retail sales figures, trends in the Bank of England in respect of loan

January 25: preliminary fourth quarter growth figures

January 26: Bank of England MPC minutes

January 31: GfK NOP consumer confidence

Meetings

January 6: BTG

January 11: Debenhams (AGM)

January 12: Diploma, Fenner and AGM Superglass

January 14: Bellway (AGM)

January 20: Enterprise Inns and Wolseley Aga

January 27: Maîtres d ' hôtel & Mitchell and AGM Britvic

January 28: Marston (AGM)

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FTSE 100 rises to a maximum of six months on the strong overall compensation

Analysts Panmure Gordon retained their "buy" rating on Unilever - the company behind the parsley and Dove.

Broker said think structurally, Unilever "is in its best State ever, with an almost refocused portfolio which should start to benefit from significant acquisitions filling its organizational change is largely complete, with a great best management team), and has a very strong balance sheet and a geographical skew is the envy of his peers."

The broker has also maintained its "buy" rating on Reckitt, saying: the owner of Cillit Bang was on track to deliver its orientation throughout the year.

Diageo has also received a boost to its European peers, higher p 27 to £ 11.87 in the wake of strong gains from Pernod-Ricard. The French maker of Absolut Vodka is undertaken for second-more great minds in the world behind Diageo.He announced the sale of the first quarter increased by 10pc due to a scheduled pick-up the United States and strong growth in emerging markets.

But also generate interest was a return to the rumor that Diageo could bid for game has French luxury goods pas.Groupe Moet Hennessy 66pc LVMH has 66pc, said that she had already refused any talk of a plan to sell champagne - maker .enfin, speculation arose in April 2009 after a possible agreement would make strategic reporting purposes. Diageo has refused to comment.

Plugs, traders were also slurping shares in Britvic, which increased by 26.8% 497.3 after the manufacturer said drinks recipes for 52 weeks has increased by 14 6pc on higher volumes, which prompted Altium titles at up to "buy" to "hold" rating.

"Britvic and, in fact, the British soft drinks market proved be resilient to the recession," said the broker.

But return among blue-chip international earnings rather than domestic were mostly having an impact. The high figures contributed to lift FTSE 100 points from 28.93 5757.86 and a maximum of six months, although this is still 67.15 points high for the year of 5825.01, struck on 15 April.

International earnings side, BT took the yellow Jersey, win 6.1 156.3%, after a court backed pension Trustees of the telecommunications company in conflict with the Government on the State guarantee to cover commitments if it goes bankrupt.

Mining shares were also in demand thanks to solid metals prices with Anglo American building £ 29.43½ 72½p.

Intercontinental Hotels then up to 43 per cent to £ 12.15 as French Hotel Group Accor, raised its target profit and posted sales of third quarter slightly ahead of forecasts.This has contributed to seal positive sentiment following results from Whitbread earlier this week, which provided more evidence of a recovery in the hotel industry .the ' company behind Premier hostels and Costa Coffee gained 2 p to £ 17.31.

But the prospects were not so sunny for Tui Travel, languished at the bottom of losing Council excretion 25.4 205 percent after repeated its results 2009 and Panmure Gordon slashed finances.Analystes Director resigned their rating on big business travel Europe "hold" to "sell" taking into account the strong share price recent performance.

Join TUI among the laggards was Tullow Oil, which took a fall after a Ghana well off the coast could not find oil .the ' Explorer fell 26 percent to £ 12.27, saying encountered Onyina-1 exploration well water bearing reservoirs, which prompted the Oriel securities downgrade Tullow to "reduce" from "hold".Broker said that the result was a blow to sentiment and rating is now stretched.

But the evolution of retained their recommendation "buy", despite what they call a "disappointing result" securities analysts. ""The Campanian has tended to be less successful than the deepest Turonian where Jubilee, Owo and Twenenboa fields were discovered," said the broker.

Some retailers made an unexpected drop in sales at retail for the second month in a row in September.Brands & Spencer has increased 8.9% 418.3 after worn Bernstein analysts their price target to 460 p 410 p and maintains their "outperform"rating.""

Analysts said that the string "came, supported by cyclical rebound late"better"and senior pass.

"In the end, M & S favourable market trend seems to be related to continue and should translate into more progress like-for-like against comparative accessible," said the broker.

Plugs, Debenhams was out as well, win 5 76½p after announcing an increase in profit throughout the year and intend to restore its dividend next year.

Seymour Pierce analysts said that they believed that the company must provide earnings growth double digit growth with a more blot on acquisition opportunity.

FILLING Council head of doublures-deuxième, however, was Afren .the oil and gas company focused on Africa acquired 16½ percent 132.4 after his Nigerian unit bought a stake in an oil majors, including Royal Dutch Shell and total oil field.

"Analysts Arbuthnot, called the"transformation"agreement.""Long gestation"big deal Afren"finally arrived and it offers at all levels: reserves, exploration upside and growth of major production," said the broker, retaining their strong accession"recommendation on the stock.

Investors taking a punt on William Hill .the bookmaker has increased by 7.2% 168,9 after saying that expected throughout the year operating profit at the upper end of the forecast of analysts.

Their earnings came a day when the FTSE 250 established points 72.83 10904.69.

View the original article here

FTSE 100 rises to a maximum of six months on the strong overall compensation

Analysts Panmure Gordon retained their "buy" rating on Unilever - the company behind the parsley and Dove.

Broker said think structurally, Unilever "is in its best State ever, with an almost refocused portfolio which should start to benefit from significant acquisitions filling its organizational change is largely complete, with a great best management team), and has a very strong balance sheet and a geographical skew is the envy of his peers."

The broker has also maintained its "buy" rating on Reckitt, saying: the owner of Cillit Bang was on track to deliver its orientation throughout the year.

Diageo has also received a boost to its European peers, higher p 27 to £ 11.87 in the wake of strong gains from Pernod-Ricard. The French maker of Absolut Vodka is undertaken for second-more great minds in the world behind Diageo.He announced the sale of the first quarter increased by 10pc due to a scheduled pick-up the United States and strong growth in emerging markets.

But also generate interest was a return to the rumor that Diageo could bid for game has French luxury goods pas.Groupe Moet Hennessy 66pc LVMH has 66pc, said that she had already refused any talk of a plan to sell champagne - maker .enfin, speculation arose in April 2009 after a possible agreement would make strategic reporting purposes. Diageo has refused to comment.

Plugs, traders were also slurping shares in Britvic, which increased by 26.8% 497.3 after the manufacturer said drinks recipes for 52 weeks has increased by 14 6pc on higher volumes, which prompted Altium titles at up to "buy" to "hold" rating.

"Britvic and, in fact, the British soft drinks market proved be resilient to the recession," said the broker.

But return among blue-chip international earnings rather than domestic were mostly having an impact. The high figures contributed to lift FTSE 100 points from 28.93 5757.86 and a maximum of six months, although this is still 67.15 points high for the year of 5825.01, struck on 15 April.

International earnings side, BT took the yellow Jersey, win 6.1 156.3%, after a court backed pension Trustees of the telecommunications company in conflict with the Government on the State guarantee to cover commitments if it goes bankrupt.

Mining shares were also in demand thanks to solid metals prices with Anglo American building £ 29.43½ 72½p.

Intercontinental Hotels then up to 43 per cent to £ 12.15 as French Hotel Group Accor, raised its target profit and posted sales of third quarter slightly ahead of forecasts.This has contributed to seal positive sentiment following results from Whitbread earlier this week, which provided more evidence of a recovery in the hotel industry .the ' company behind Premier hostels and Costa Coffee gained 2 p to £ 17.31.

But the prospects were not so sunny for Tui Travel, languished at the bottom of losing Council excretion 25.4 205 percent after repeated its results 2009 and Panmure Gordon slashed finances.Analystes Director resigned their rating on big business travel Europe "hold" to "sell" taking into account the strong share price recent performance.

Join TUI among the laggards was Tullow Oil, which took a fall after a Ghana well off the coast could not find oil .the ' Explorer fell 26 percent to £ 12.27, saying encountered Onyina-1 exploration well water bearing reservoirs, which prompted the Oriel securities downgrade Tullow to "reduce" from "hold".Broker said that the result was a blow to sentiment and rating is now stretched.

But the evolution of retained their recommendation "buy", despite what they call a "disappointing result" securities analysts. ""The Campanian has tended to be less successful than the deepest Turonian where Jubilee, Owo and Twenenboa fields were discovered," said the broker.

Some retailers made an unexpected drop in sales at retail for the second month in a row in September.Brands & Spencer has increased 8.9% 418.3 after worn Bernstein analysts their price target to 460 p 410 p and maintains their "outperform"rating.""

Analysts said that the string "came, supported by cyclical rebound late"better"and senior pass.

"In the end, M & S favourable market trend seems to be related to continue and should translate into more progress like-for-like against comparative accessible," said the broker.

Plugs, Debenhams was out as well, win 5 76½p after announcing an increase in profit throughout the year and intend to restore its dividend next year.

Seymour Pierce analysts said that they believed that the company must provide earnings growth double digit growth with a more blot on acquisition opportunity.

FILLING Council head of doublures-deuxième, however, was Afren .the oil and gas company focused on Africa acquired 16½ percent 132.4 after his Nigerian unit bought a stake in an oil majors, including Royal Dutch Shell and total oil field.

"Analysts Arbuthnot, called the"transformation"agreement.""Long gestation"big deal Afren"finally arrived and it offers at all levels: reserves, exploration upside and growth of major production," said the broker, retaining their strong accession"recommendation on the stock.

Investors taking a punt on William Hill .the bookmaker has increased by 7.2% 168,9 after saying that expected throughout the year operating profit at the upper end of the forecast of analysts.

Their earnings came a day when the FTSE 250 established points 72.83 10904.69.

View the original article here