Business and City Summary

VICKERS LOSES UAE TANK DEAL

France's state-owned GIAT Industries has won a dollars 3.5bn ( pounds 2.5bn) order from the United Arab Emirates for nearly 400 Leclerc battle tanks, beating competition for the contract from the Challenger 2 made by Vickers of the UK and the Abrams M1A2 made by General Dynamics of the US.

LEISURE FLOAT

David Lloyd, the former tennis player, will float his leisure company next month via a placing and offer for sale. The float, raising pounds 10m of new money, will value the company at pounds 50m-plus.

TRAFALGAR RIGHTS

More than 40 per cent of last week's pounds 205m rights issue by Trafalgar House has been underwritten by Swiss Bank Corporation, which has an option to sell its shares on to Hongkong Land.

UAE GOES FRENCH

(First Edition)

The United Arab Emirates has opted to buy French tanks instead of Vickers' Challenger 2.

TODAY 15.2.93:

EC finance ministers meet in Brussels; US markets closed.

Interims: Dalgety; GT Chile Growth Fund; Korea Europe Fund; Midwynd International Investment Trust; Second Alliance Trust.

Finals: Aminex; Baring Tribune Investment Trust.

TOMORROW 16.2.93

CBI survey of distributive trades (Jan); UK acquisitions and mergers (Q4); public sector borrowing requirement (Jan); index of production (Dec); financing of central government borrowing requirement (Q4).

Interims: Hanson (Q1); Howard Holdings; Impala Platinum Holdings.

Finals: British Airways (Q3); County Smaller Companies Investment Trust; Foster's Brewing; St Modwen Properties; TR Pacific Investment Trust; Temple Bar Investment Trust.

WEDNESDAY 17.2.93:

Retail sales (Jan).

Interims: Fletcher Challenge; Latin American Capital Trust; New Zealand Investment Trust; North American Gas Investments.

Finals: Mersey Docks & Harbour; Vardon.

THURSDAY 18.2.93:

US State of the Union address; Bundesbank council meeting; unemployment and unfilled vacancies (Dec); average earnings indices (Nov); employment, hours, productivity and unit wage costs; industrial disputes; provisional estimates of monetary aggregates (Jan); building societies monthly figures (Jan); provisional figures of vehicle production (Jan).

Interims: Alumasc Group; Glaxo Holdings; SWP Group.

Finals: Leslie Wise Group.

FRIDAY 19.2.93:

Manufacturers and distributors stocks (Q4).

Finals: Amicable Smaller; Fidelity European Values; Foreign & Colonial.