Wednesday 26 May 1999
Buy Anglo American, says both Commerzbank and BT Alex.Brown, at pounds 29.68 and pounds 30.7 respectively. Risks reside in poor information disclosure, South African exchange controls and large crossing holdings, warns BT Alex.Brown, but it praises the simplified group structure, while Commerzbank calculates that the shares are on a 30 per cent discount to Rio Tinto.
J Sainsbury (401p) is set to outperform, argues Morgan Stanley Dean Witter, which has raised its price target by 40p to 450p. MSDW points out that Sainsbury's and Safeway's real estate is valued more highly in the property market than by the equity market, suggesting that a cheap way into UK food retail sector is via the stock market. If Asda's is worth the price Kingfisher is paying, J S should be valued at 468p-555p.
Glaxo Wellcome's trading update for the first four months of 1998 was disappointing, says Sutherlands, which has cut its recommendation on the pharmaceuticals giant from buy to hold (1809p). Glaxo's target of double digit growth in 1999 is likely to be a challenge.
- 1 The West has it totally wrong on Lee Kuan Yew
- 2 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 3 The day I starred in Only Fools and Horses
- 4 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
Andreas Lubitz: Knee-jerk reaction to 9/11 enabled mass murder
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...