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.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
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