The Daily Telegraph - 27.08.2019

Government securities  23 Aug

52 week Flat

Rdm

High Low (£) Stock Price (£) +/- Yield Yield

120.02 113.72 Treas 8% 21 113.46 -0.00 7. 05 0 .4 0

125.99 122.06 Treas 5% 25 125.29 +0.14 3.99 0.37

151.32 100.00 Treas 6% 28 150.33 +0.14 3.99 0.45

145.50 129.68 Treas 4¼% 32 143.22 +0.04 2.97 0.71

154.06 126.98 Treas 4¼% 36 151.80 -0.04 2.80 0.88

169.14 144.99 Trea s 4¾ % 38 166.82 -0.23 2.85 0.95

Index Linked Securities

361.05 354.33 Treas 2½% IL 20 355.23 -0.10 0.70 0.00

377.38 360.59 Treas 2½% IL 24 375.21 -0.01 0.67 0.00

400.88 358.91 Treas 4⅛% IL 30 397.03 -0.77 1.04 0.00

311.70 262.80 Treas 2% IL 35 307.12 -1.28 0.65 0.00

10-year Government Bonds

Spread vs Spread vs

Yield% Bunds T-Bonds

France -0.38 +0.32 -1.92

Germany -0.70 – -2.24

Japan -0.29 +0.41 -1.83

Great Britain 0.49 +1.19 -1.05

United States 1.54 +2.24 –

The share prices, price-earnings ratios and dividend yields

below are supplied by Interactive Data (Europe) Ltd. The

yields are calculated using historic dividend payments divided

by the closing share price multiplied by 100.

Aerospace & defence 23 Aug

52 week

High Low (p) Stock Price (p) +/- Yld P/E

739¼ 410⅛ Babcock Intl ● 497¾ +5⅜ 6.0 12.6

643⅝ 439⅜ BAE Systems 541¼ -8⅝ 4.2 17.3

171¼ 96⅜ Cobham ● 162⅛ — 0.2 52.3

324⅜ 265 QinetiQ ● 284* +4¼ 2.3 14.1

1024 723⅜ Rolls-Royce 750 -11⅜ 1.6 -5.8

329⅝ 184¼ Senior ● 201 +2⅝ 3.7 16.8

2248 1200 Ultra ● 2162 -22 2.4 49.6

Banks 23 Aug

193⅞ 136½ Barclays 138* -1¼ 6.5 14.7

1682 1209 Close Bros ● 1285 +1 5.0 9.5

695⅞ 586⅜ HSBC 586⅜* -7¼ 7.1 11.4

66¾ 48⅛ Lloyds Bk Gp 50* +¼ 6.5 9.1

274¼ 176½ Ryl Bk Scot 183* -½ 9.6 13.6

412⅞ 315⅝ Santander 316¾ -1⅛ 5.3 8.8

1792¼ 1130 Secure Trust Bk 1330 — 6.3 8.7

742⅝ 514¼ Standard Ch 614⅜* -5¾ 2.9 40.3

Beverages 23 Aug

3538 2513 Diageo 3418* -3 2.0 26.2

240 184 Stock Spirits 235½ +1½ 3.2 15.6

Chemicals 23 Aug

5460 4499⅛ Croda 4580* -36 1.9 24.6

3692 2574 Johnson Mat 2806 -42 3.0 13.0

3438 1813⅝ Victrex ● 1955 -53 3.0 15.2

Construction 23 Aug

150 83⅛ Alumasc 86½ — 8.5 7.2

300⅛ 192¼ Balfour Beatty ● 212⅝ -3 2.5 10.8

670¼ 430 Barratt Dev 636 +8 4.3 9.6

3233 2407 Bellway ● 2889 +13 5.0 6.8

3997 3170 Berkeley Grp 3969* +99 0.7 8.2

304 228⅛ Boot H 236 +2 4.0 8.3

466½ 141 Costain 151¼ -4¾ 9.1 4.9

411 274½ Crest Nicholson ● 354 +3¼ 9.3 6.4

2768 1961 CRH 2644 +41 2.5 9.7

938½ 626½ Grafton Gp ● 717 -7½ 2.5 11.3

1500 1000 Morgan Sindall 1196 -16 4.6 8.0

794 390¼ NMCN 532½* — 3.9 11.2

2505 1802½ Persimmon 1909½ +9½ 12.3 6.7

676¾ 478⅝ Redrow ● 566 +6 5.4 7.7

192¾ 127¾ Taylor Wimpey 147⅛ -½ 5.2 7.3

Electricals 23 Aug

576 269 Dialight 345½ -4½ — 21.1

469 318½ discoverIE Grp 427 — 2.2 21.4

2099 1215 Halma 1959½ -2½ 0.8 43.8

5586 3388 Renishaw ● 3560 -88 1.7 28.1

3150 1855 XP Power 2330 +10 3.7 14.8

Electricity 23 Aug

432⅜ 259¾ Drax Group ● 267 -1¾ 5.6 53.4

892 744½ Nat Grid 853 +5¼ 5.5 19.3

1287 997¾ SSE 1124* +28½ 8.7 8.2

Engineering / Industrial 23 Aug

1001 646 Bodycote ● 695½ +1½ 2.8 12.8

468 341 Castings 387* — 3.8 15.3

92¼ 69 Coats Group ● 73⅛ -1⅛ 1.9 32.5

1655 880 Cropper J 1210 -5 1.1 49.8

3700 2300 Goodwin 3510 +30 2.7 22.0

1237 867½ IMI ● 959* -7⅜ 4.3 15.3

5514⅛ 842½ Jardine Mthsn 4399⅜* -21⅛ 3.2 —

52¾ 5¾ Low&Bonar 6¾ — — -0.5

238½ 146 Melrose Ind 165¾ -3 2.8 -13.8

2212 1502¾ Mondi 1576½* -21 4.7 10.2

78 60¼ Severfield 62* -1¼ 4.5 9.3

1676½ 1256¾ Smiths Gp 1583½ -1 2.8 22.6

514¼ 285⅞ Smith (DS) 324¼ -6¼ 5.0 15.7

3304 1915 Smurfit Kappa 2412 -28 3.8 -9.7

9445 5875 Spirax 7875 -45 1.3 26.0

1430 1025 Vitec 1100 -5 3.4 14.5

1933 1222½ Weir ● 1351 +16 3.5 —

Food producers 23 Aug

2659 2011 Ass Brit Fds 2278 +15 2.0 15.0

3094½ 2224 Coca-Cola HBC 2668 -14 1.9 24.2

3512¼ 2340 Cranswick ● 2676* +14 2.1 19.7

1096 855 Hilton Food ● 967 -11 2.2 24.2

308 90 REA Hldgs 132½ -5 — -3.0

5167 3905 Unilever 5010* -15 2.8 15.8

Gas & Water 23 Aug

156⅝ 64 Centrica 65½ +⅜ 7.6 19.9

800 679½ Pennon Gp ● 727* +6¾ 5.6 14.2

2153 1757 Severn Trent 2030 +21 4.6 15.2

879⅝ 674¼ Utd Utilities 787¼ +8 5.2 14.8

General financial 23 Aug

545½ 337¾ Ashmore ● 466 -7¾ 3.6 20.6

369⅜ 284¼ Brewin D ● 299⅜ -1¾ 5.5 18.1

380 239⅝ Charles Stanley 270 — 3.2 15.2

2447⅜ 1622 Hargreaves L 1889 -23½ 2.2 36.3

916½ 467⅜ IG Group ● 544⅝ +6⅜ 7.9 12.6

1436 895⅞ Intermediate C ● 1351 +9 3.3 21.3

563¾ 396¾ Investec ● 411⅜ -5⅝ 6.0 7.9

134¼ 57¼ IP Group ● 57¾ -1⅜ — -2.1

840 520 Liontrust 758 +16 3.6 22.5

43¾ 37 Lon. Fin. & Inv. 38½ — 3.0 64.2

7272 3842 Lon Stock Ex 6832* -6 0.9 49.4

183⅝ 124⅛ Man Group ● 168⅞* -2¼ 4.7 12.0

243 172 Oakley Capital 224 +2 2.0 —

490¾ 379¼ Paragon ● 427 +6¼ 4.9 7.6

696⅝ 348¾ Provident Fin ● 381¼* +3¼ 5.0 15.1

156⅞ 109¼ Quilter ● 125¾ -½ 4.1 4.7

2654 2055 Rathbone Bros ● 2300 +30 2.9 25.9

2640 1725 S & U 2050 +50 5.8 8.8

3226 2289 Schroders 2638* -41 4.3 14.4

Healthcare 23 Aug

240½ 113¼ ConvaTec Grp ● 176½ -½ 2.6 19.7

4010 1773½ NMC Health 2157 -139 0.8 22.1

506¾ 288¼ Mediclinic Int ● 318¾ -2⅞ 2.5 -15.5

1957 1242½ Smith & Nep 1933 +3 1.5 31.2

Household goods 23 Aug

2362 1618½ Burberry 2135 +13 2.0 25.9

160¼ 58¾ McBride 59¾ -½ 7.2 31.4

244¼ 175 PZ Cussons ● 205½* -2 4.0 32.9

7174 5559 Reckitt Benck 6106* -13 2.8 20.0

1232 354 Superdry 400* -16 2.9 -3.3

Information technology 23 Aug

610 332 Aptitude Sftwre 600 -4 1.0 26.5

4232 2264 Aveva Group 3852 +26 1.1 —

26 16¼ BSD Crown 23½ — — 16.9

514½ 260 CML Micro 320 — 2.4 20.3

2512 1411½ Micro Focus Intl 1569¼ -19⅝ 9.1 10.3

826 491¼ Sage Gp 687⅝ -6¼ 2.4 25.3

182¾ 110¾ Spirent ● 178⅜* +2¼ 2.1 24.0

Insurance 23 Aug

2300 1901 Admiral 2157 -3 5.2 15.7

501 355½ Aviva 361⅜* -1⅛ 8.4 9.5

604½ 486½ Beazley ● 590½* +½ 2.0 60.9

367 285¾ DirectLineIns 287¾* +½ 7.4 8.6

1795 1411 Hiscox 1580* -5 2.2 46.6

731 505 Lancashire Hldg ● 703* +8½ 1.7 45.4

292¼ 218½ Legal & General 221¾* +1¼ 7.6 7.2

735½ 536¾ Phoenix 639⅝* — 7.3 9.6

1819½ 1325 Prudential 1362½* -22 3.7 11.7

644⅜ 490⅜ RSA 531 -3¼ 4.0 16.7

1172⅞ 905⅝ St James Place 933 -6⅜ 5.2 28.3

379½ 208⅞ StndrdLifeAber 240¾* -3⅛ 9.0 8.3

Investment trusts 23 Aug

52 week

High Low (p) Stock Price (p) +/- Yld NAV

1166 754⅝ 3i 1086½ +½ 3.2 —

303½ 238⅛ 3i Infrastructure ● 299½ +4 3.1 —

126 100⅞ Aberdeen Diversified 108 — 4.9 —

520 374 Aberdeen New India 472 +1½ — —

492⅞ 348 Aberdeen Std Eq Inc 353 -11 5.7 —

845½ 669 Alliance Trust ● 787 -7 1.7 —

1842 1125⅛ Allianz Tech Trust 1658 -21 — —

788 657 AVI Global Trust ● 735 -3 1.8 —

976½ 766 Bankers Invstmt Tst ● 922* -7 2.3 —

858⅜ 594½ Biotech Growth 782 -2 — —

82 65⅜ BlackRock Enrgy&Res 67½ -¼ 5.9 —

149¾ 128 BlckRock FroInv 135 +½ 4.3 —

400 305 BlckRck Grt Euro 385 +1 1.5 —

208 173⅝ BlckRck Inc&Grth Inv 194* — 3.6 —

544 378 BlackRock Latin 448½ -6 5.9 —

204 157½ BlckRck NrthAmerInc 189¾* +2¼ 4.2 —

1495 1160 BlackRock Small ● 1416 +16 2.2 —

580 431 BlkRk Throg Tst 575* +11 1.7 —

396⅜ 317½ BlackRock Wld M 347 — 5.8 —

337 275 BMO Cap & Inc 305½ — 3.7 —

149¾ 106 BMO ComProp ● 108⅝* — 5.5 —

1505 1210 BMO Glob SmCo ● 1346 -8 1.2 —

220 189 BMO Mgd G 207 — — —

142 118 BMO Mgd I 134½ — 4.4 —

371 312 BMO Priv Eq Ord 359 -4 4.1 —

100 79⅜ BMO Real Est Inv 87 +⅝ 5.7 —

104¾ 84 BMO UKHighIncTst 90½ -¼ 5.8 —

880 678⅝ Brunner 827* +3 2.4 —

3129⅛ 2635 Caledonia ● 3050 — 1.9 —

194½ 172½ City Merchants HY 190½ -¾ 5.2 —

433⅛ 373 City of Lon ● 403* -2½ 4.6 —

107¾ 82⅞ CQS Nat Res G & I 84¼* — 6.6 —

399⅜ 318¼ Dunedin Ent 356 +1 21.6 —

702 528 Edinburgh Inv Tr ● 548 +4 5.1 —

206¾ 143¼ Edin Worldwide 193 -1⅜ — —

918 325 ElectraPrivEq 345 +½ 121.4 —

330 289 EP Global Opp 305 — 2.1 —

120⅜ 91¼ European Assets 102 -3 6.1 —

930⅜ 748⅛ The Europ InvTr 762 -14 3.6 —

739 616 F&C Inv Trust ● 694 -4 1.6 —

460 349 Fidelity Asian V 434 -5 1.3 —

250½ 180¾ Fidlty Chna Sp Sits ● 211 -4½ 1.8 —

258 202 Fidelity Euro V ● 246½ -½ 3.6 —

167⅞ 124 Fidelity Japan Tst 153¼ — — —

278 220 Fidelity Sp V ● 255 +3½ 2.1 —

956 735 Finsbury Gwth ● 919 -1 1.8 —

292 261 Hend Alt Strat 275 — 1.8 —

94⅜ 75⅜ Hend Div Inc Tst 94⅜ +1 4.7 —

181½ 154¾ Hend High Inc 168½ +1 5.8 —

172 149 Hend Intl Inc 162½* -¾ 3.4 —

930 721⅜ Hend Smaller Co 796* -2½ 2.9 —

1110 856 Hend Opp 856* -24 2.5 —

1380 1052 Herald Inv ● 1304 +16 — —

225 173½ HgCapital ● 209 +3 2.2 —

170¼ 149 HICL Infrastructure ● 167⅜ +1¼ 4.9 —

226 199 Highbridge MultiStrt 208 — — —

904 782 ICG Enterprise Tst 873* +1 2.5 —

302 238 Invesco Asia Trust 269* -5 2.1 —

77⅜ 68 Invesco Enhcd Inc 74¾ +⅛ 6.7 —

282¼ 240 Invesco Inc Gth Tr 261 — 4.4 —

141⅝ 129 InvesPerp Bal Rk 139 — — —

183⅜ 154 InvesPerp Sel UK E 169½ — 3.9 —

211⅝ 182 InvesPerp Sel Gbl E 198½ +½ 3.5 —

548 425 InvesPerp UK Sm Co 512* +13 3.7 —

499 384½ JPM American ● 466 -5 1.4 —

396¾ 295 JPM Asian 347 -4 4.5 —

78 50 JPM Brazil Inv 72¾* -1 1.1 —

308 213⅝ JPM Chinese 296½ -2 1.2 —

766 640 JPM Claverh’se 674* — 4.1 —

889½ 722¼ JPM ElecManGth 827½* +5 1.9 —

115 93 JPM ElecManInc 99½* +2 4.7 —

105 99 JPM ElecManCsh 102½* — 0.4 —

1072 757⅜ JPM Emerg Mkt ●^990 -4 1.3 —

418 320¾ JPM Eur Sm Cos 361 -4 1.9 —

312 246¼ JPM Eur Gwth 290 -3 3.1 —

162 135 JPM Eur Inc 150½ -½ 4.3 —

356 279 JPM Gbl Gth & Inc 339 -4 3.8 —

144⅝ 112¾ JPM GEMI 128¼ -1¾ 3.9 —

94 84⅝ JPM GL Conv 87½ — 5.1 —

795 562½ JPM Indian ● 702 — — —

465 366 JPM Japanese ● 448 — 1.1 —

454 322 JPM Japan Sm Cos 398½ -2 4.4 —

1215 950 JPM Mid Cap 1030 +2½ 2.6 —

98 91¼ JPM Mlti-Ass 94 +⅝ 4.3 —

708 481¾ JPM Russian 686 +2 3.8 —

246 182¾ JPM Small Cos 221½ +3½ 2.4 —

347 258¾ JPM US Sml 317 -5 0.8 —

341⅜ 248 Jup UK Gwth IT 273 — 2.6 —

1716⅝ 1460 Keystone Inv Tr 1505 — 3.7 —

630 528 Law Debenture ● 562* — 3.5 —

1555 1205 Lowland Inv 1230 -10 4.8 —

297 230 Majedie 241 — 4.7 —

312 228 Mtn Currie Port 289 -2 1.5 —

219¾ 168 Mercantile InvTr ● 201 +5 3.2 —

516 431 Merchants Tst 460¼ +1½ 5.8 —

970 710 Monks ● 909* -6 0.2 —

862 700 Murray Income 828 — 4.0 —

1212⅝ 1044 Murray Intl ● 1144 -10 4.6 —

62⅜ 54 Northern 2 VCT 59 — 6.8 —

90⅞ 82 Northern 3 VCT 86½ — 4.6 —

68 60 Nthn Venture 64½ — 6.2 —

313⅝ 233⅛ Pacific Assets 290 -4½ 1.0 —

2340 1950 Pantheon ● 2295 +5 — —

365½ 282½ Perpetual Inc & Gr ● 292 -½ 5.0 —

43200 38850 Personal Ass ● 42900 -50 1.3 —

134¾ 100 PremierGlblInfra 125½* -½ 8.1 —

2155 1890 RIT Cap Ptnrs ● 2095 -5 1.6 —

234 202 Ruffer Inv Pref 222 -4 0.8 —

385 303¼ Schroder Asian TR 355½ -7½ 1.7 —

429 345¼ Scot American 409* +1 2.9 —

893 747 Scot Invest ● 804 -1 2.6 —

569¼ 425⅛ Scot Mortgage 511 -10 0.6 —

202 150½ Sec Tst of Scot 187¼ -¾ 3.3 —

182 158½ Seneca Global 176¼ — 3.8 —

1286⅜ 984¾ Smithson Inv Tst ● 1236 -2 — —

428½ 351 TR Property ● 419 +½ 3.2 —

833⅜ 639 Tmpletn Em Mt ● 759 -8 2.1 —

99½ 91⅞ Tritax Euro Box € 93¼* +⅛ 5.1 —

99 89 Tritax Euro Box £ 94* +⅜ 5.1 —

84 71½ Troy Inc & Gr 80 +⅝ 3.4 —

260 168 UIL Ord 234 — 3.2 —

151 143¼ UIL Fin ZDP 20 150½ — — —

132 123⅛ UIL Fin ZDP 22 132 — — —

116¾ 105 UIL Fin ZDP 24 116 — — —

108⅞ 102 UIL Fin ZDP 26 107½ — — —

259 185 Utilico Emerg 243 — 3.0 —

226¾ 189 Witan ● 208½* -2 2.4 —

345 279 Witan Pacific 322 -2½ 2.2 —

2920 2325 Worldw HealthTr ● 2765 -15 1.0 —

Net Asset Values © 2019 Morningstar Estimated at previous

day’s close see http://www.Morningstar.co.uk.

Media 23 Aug

52 week

High Low (p) Stock Price (p) +/- Yld P/E

606¾ 375⅝ Auto Trader 525 +1¼ 1.3 25.0

247 182⅜ Bloomsbury 232* +1 3.4 18.8

800½ 555 Daily Mail ‘A’ 771 -3 3.0 4.0

1436 1118 Euromoney ● 1380 +56 2.4 7.4

900¾ 602¾ Informa 857¼* -4⅝ 2.6 43.5

168¼ 102⅝ ITV 114⅞ +¼ 7.0 9.8

1030 764 Pearson 818* -2 2.3 10.8

98 54 Reach 93½ -½ 6.7 -2.3

1995⅛ 1466½ RELX 1926* +5 2.2 26.8

588⅛ 415¼ Rightmove 527⅞ -⅛ 1.3 29.7

1323½ 791 WPP 952¼ -8¼ 6.3 11.2

Mining 23 Aug

2294 1433⅝ Anglo Amer 1666⅝* -14 5.5 7.3

1026 713¼ Antofagasta 812 -4¾ 4.8 18.1

2078½ 1486⅝ BHP Group 1680⅜ -18¼ 6.4 12.9

144 79⅛ Centamin ● 140⅞ +2½ 4.0 26.6

710¼ 435½ Evraz 481½* -8⅜ 16.9 3.5

1028 570 Fresnillo 684⅜* +19¼ 2.2 17.7

357⅛ 3⅜ Glencore 225½ -3½ 7.2 11.5

232¼ 146⅝ Hochschild Mng ● 206¾ +5⅝ 1.6 84.6

264 174 Kenmare Res 254 +1 2.6 6.8

1116 593¾ Polymetal ● 1116 +8½ 3.5 17.6

5039 3460 Rio Tinto 3924½* -21½ 7.9 6.1

Oil & Gas 23 Aug

603⅝ 481⅜ BP 488* -6½ 6.8 12.8

247⅝ 138 Cairn Energy ● 161¼ -4¾ — -1.0

44⅝ 15¼ EnQuest 18½ -½ — 2.2

883½ 402¼ Hunting ● 427¾ -15¾ 1.6 -32.0

679 373⅞ Petrofac ● 398¾ -5¼ 7.3 25.9

146⅞ 54¾ Premier Oil ● 74⅞ -4⅛ — 5.3

2811⅜ 2209½ Royal D Shell A 2266½* -21 6.8 9.9

2725½ 2142½ Royal D Shell B 2252* -26½ 6.8 9.8

100 60¾ Soco Intl 64 +1 8.6 9.4

801¼ 379¾ Wood Grp (John) ● 391¼ -12⅜ 7.3 -369.4

Pharmaceuticals 23 Aug

7479 5312 AstraZeneca 7313* -11 3.0 52.8

3163 1992 Dechra Pharma ● 2986 +50 0.9 80.2

2951 2090 Genus ● 2586 — 1.0 37.1

1749⅜ 1408¾ GlaxoSmKline 1691¼* +15¼ 4.7 22.9

2089 1491½ Hikma ● 2033* -7 1.6 21.3

278⅛ 21 Indivior 59⅛ -1⅝ — 1.9

113 34¾ Premier Vet 59½ — — -2.6

Property 23 Aug

70 52⅜ Assura ● 68¼ -¼ 4.0 —

1077 834 Big Yellow Gp ● 1030 +11 3.2 —

645 465¼ Brit Land 496¾ +⅞ 6.3 —

257 195 CLS Hldgs ● 245* +6½ 2.9 8.0

47⅞ 13⅜ Cap&Regional 14½ -⅜ 16.7 —

280⅝ 181⅜ Capital&Count ● 200⅝ +1¾ 0.7 -29.9

3352 2745 Derwent Ldn ● 3158 +8 2.1 —

777⅝ 643¾ Gt Portland Est ● 688⅜ +5¼ 1.8 —

285 204 Grainger ● 244¼ +4¾ 2.1 12.8

204 31⅞ Intu Props ● 34⅞ +2⅝ — —

498⅞ 202⅞ Hammerson ● 227½ +8½ 11.4 —

103 85 Hansteen Hldgs 89⅞ +1⅛ 6.5 —

406½ 295 Helical 355 +½ 2.8 9.9

578½ 427½ H K Land 453¾* -11½ 3.9 5.3

940¼ 731¾ Land Secs 759¾ +3¼ 6.0 —

33 25¾ Local Shopp REIT 30¾ — — —

283 215 McKay Secs 215 -10 4.7 —

50 36⅜ Raven Property 38 — — -2.0

145 116½ Raven Prop Prf 132* — 9.1 —

108 108 RavenPrp CnvPrf 110 — 5.9 —

175⅝ 97 RDI REIT 105¾ +1 10.2 —

667½ 493 Safestore ● 660 +5½ 2.5 —

451 357⅜ St Modwen ● 406* +4½ 1.9 15.0

975 677½ Savills ● 828½ -6½ 1.9 14.7

792¾ 577⅝ Segro 772¾* +4¾ 2.5 —

280 183 Town Centre 186 +3 6.3 —

162⅝ 129⅛ Tritax Big Box ● 138¾ +⅞ 4.9 —

1091 793 Unite ● 1049 +10 2.8 —

337 257 Urban&Civic 309 -2 1.2 23.8

106½ 91⅜ Warehouse REIT 105½ — 5.7 20.9

1095½ 778 Workspace Gp ● 859½ +8½ 3.8 —

Retailers 23 Aug

169⅛ 81⅝ Brown N 108¼ -1¼ 6.6 -5.3

36⅛ 12¼ Carpetright 13½ — — -1.7

772⅞ 555 Dairy Farm 563¾* -4¼ 3.0 —

1125 455¼ Dignity 491⅜ -4¼ — 7.8

180⅝ 90 Dixons Carph ● 109 +1¼ 6.2 -3.9

992¾ 482¼ Dunelm ● 871½ +1½ 3.1 21.7

2496 1003 Greggs ● 1985 — 1.9 30.4

355¼ 165½ Halfords 175¾* -¼ 10.6 8.3

577⅜ 412⅜ Howden Joinery ● 539⅜ -⅜ 2.2 17.2

653¼ 318½ JD Sports Fash 600¾ -17¾ 0.3 22.3

283¼ 186⅛ Kingfisher 190⅝ -3¼ 5.7 18.5

113⅝ 33¾ Lookers 51½ -½ 7.9 4.7

301¼ 179¾ Marks & Spen 186¾ -5 7.4 93.3

270½ 176⅞ Morrison (WM) 181¾ +⅛ 6.9 17.6

27 14 Mothercare 14 -⅜ — -0.4

6218 3970 Next 5766 +26 2.9 13.2

1440½ 730⅝ Ocado 1200 -4½ — -174.7

28⅞ 10 Pendragon 10¾ -⅛ 14.0 -3.0

141¼ 31¾ Saga 43⅞ ... 9.1 -3.0

341⅛ 177 Sainsbury J 196¾ -2⅞ 5.6 21.6

2222 1678 Smith WH ● 1987 +37 2.8 20.1

390¼ 166⅝ Sports Direct ● 246⅝ -2 — 11.4

295 152½ StudioRetailGrp 198 -5 — 7.3

260⅛ 187 Tesco 212⅝ -⅞ 2.7 15.6

Support services 23 Aug

887⅜ 688⅞ Aggreko ● 772¾ -7¼ 3.5 15.7

2461 1572½ Ashtead Gp 2147* -27 1.9 12.9

247¼ 176¾ BCA Marketplace ● 241⅝ — 4.0 28.1

2554⅝ 2006 Bunzl 2033 -2 2.5 20.7

152⅛ 98⅝ Capita ● 121⅝ -1⅞ — 6.6

20¾ 12½ Carillion # 14¼ — — 0.5

290 184¼ Charles Taylor 218 -9 5.3 -44.1

516⅜ 210 De La Rue 218 -1 11.5 13.2

7450 5555 DCC 6782 -48 2.0 24.2

469⅜ 324¾ Essentra ● 401⅝ -3¼ 5.2 43.2

2587 1710 Experian 2515 -10 1.5 40.1

6354 4992 Ferguson 5984 -82 2.5 14.2

255⅝ 165¾ G4S ● 168⅜ -⅜ 5.8 31.8

1275 847½ Homeserve ● 1100 +11 1.9 33.6

5982 4323 Intertek Group 5364 -56 1.9 30.3

424⅜ 199 IWG ● 407⅛ +½ 1.6 34.8

177 112 Johnson Serv 167⅜ -1⅜ 1.9 22.9

600 353½ Menzies J 397 -4½ 5.2 -58.4

170⅛ 105¾ MITIE Gp 154⅜ -6⅝ 2.6 18.0

461¼ 280 Rentokil 443⅞* -3½ 1.1 -83.0

890 572 Ricardo Gp 714 — 2.9 15.3

798 446¾ Robt Walters 510 -22 3.0 10.1

154 101¼ SIG ● 124⅞ +5⅛ 3.0 41.6

149 83⅝ Serco Group ● 141 -⅞ — 22.9

1488½ 964¾ Travis P ● 1244 -1 3.8 -36.2

Telecommunications 23 Aug

268⅝ 158⅝ BT Group 159* -2½ 9.7 7.3

588⅜ 355 Inmarsat ● 582⅜ +2⅜ 2.7 26.5

140⅛ 91⅝ TalkTalk ● 101¼ +¾ 2.5 16.9

1542 995 Telecom Plus ● 1204 — 4.3 28.3

177⅜ 122¼ Vodafone 150⅜ -¼ 5.3 -5.7

Tobaccos 23 Aug

4098½ 2336½ Brit Am Tob 2961 -17½ 6.9 11.2

2903 1771 Imp Brands 2055* +6½ 9.4 14.3

Transport 23 Aug

326¾ 207 BBA Aviation ● 305¾ -¾ 3.8 28.0

2910 1834 Clarkson ● 2470 -75 3.1 25.0

447⅝ 300 Northgate 332* +½ 5.5 8.6

492½ 186¾ Royal Mail ● 201* +2¼ 12.4 11.5

275 200 Wincanton 230 — 4.7 6.7

Travel & Leisure 23 Aug

5030 3354 Carnival 3434* -66 4.7 9.5

2113 1467½ Compass 2050 +3 1.9 28.9

1590 840 easyJet ● 935¾ -1⅝ 6.3 10.3

129⅛ 78 FirstGroup ● 127¾ +1⅝ — -23.2

7440 5390 Flutter Entrtmt 6720 -56 3.0 27.8

1210 846 Fullers ‘A’ 1130* -30 1.8 32.2

2226 1480 Go-Ahead Grp ● 2014 -10 5.1 11.1

1151 504 GVC Hldgs ● 609¾* -4¾ 5.5 -50.0

718¾ 411½ IAG Intl Cons Air 419¾ -½ 5.4 3.3

5770 4052½ Intercont Hotels 5109 +10 1.9 34.0

174⅝ 116⅞ Mandarin 119* -¼ 2.1 42.2

128¼ 89¼ Marston’s ● 127½ +1⅜ 5.9 18.0

354 236½ Mitchells&But ● 344 +4 — 14.0

450¼ 356 National Ex ● 427 +3 3.6 16.1

580¾ 357⅛ Playtech ● 378⅝ -9¾ 4.3 10.6

183⅝ 127¾ Rank Group ● 170¼ +⅜ 4.5 23.0

223 110⅛ Restaurant Gp ● 149⅛ +⅝ 5.5 61.6

1302 767½ Ryanair 776 +3¼ — 11.1

184¾ 113⅝ Stagecoach ● 127* +¼ 6.1 5.7

86 4¼ Thomas Cook 7 -⅝ — -0.7

1490 686⅝ TUI AG 803¾ +⅜ 8.1 7.1

1632 1051 Wetherspoon ● 1615 +27 0.7 25.0

AIM 23 Aug

1566½ 1030 Arbuthnot 1315 — 2.7 -9.8

2224 1350 BrooksMacdonald 1877½ -17½ 2.6 47.7

2⅛ ⅜ Cambria Africa ½ — — 1.1

274 176 Central Asia Met 187¾ +1¾ 7.7 8.5

210 123¼ Ceres Power 178 -2 — -181.6

1670 920 Churchill China 1585 +5 1.8 24.2

460 354 Cohort 442½* — 2.1 33.1

1053 699 Dart Group 748½ -10 1.4 7.6

2⅛ ¾ Deltex Medical 1⅜ ... — -4.7

88 65 Elecosoft 74 — 0.9 30.8

129 58 Finsbury Food 65½ — 5.1 38.5

49¼ 5⅝ Futura Medical 45½ +½ — -10.2

8½ 4 Gaming Realms 6¼ — — 18.8

237¾ 129 Highland Gold 222 +1⅜ 6.0 17.7

48½ 25¾ Hornby 27¼ — — -6.4

71¼ 47 Inland Homes 69¾ -⅜ 3.4 9.1

106¼ 42¼ IQE 55 -1¾ — —

532 365 James Halstead 492 -18 2.8 27.8

118 85 LPA Gp 93 — 3.1 6.5

405 208 M&C Saatchi 214 +4 5.1 21.9

76½ 41¼ Miton Group 42½ — 4.7 9.4

223½ 104 Mpac Group 200½ +1 — -6.7

227⅝ 177¼ MS Intl 205 — 4.0 8.9

427¼ 216 Numis 232 — 5.2 9.2

109 70½ Prime People 91 — 5.7 6.6

528 250⅛ Restore 412½ -1½ 1.6 31.7

37¾ 22⅛ Share 30¼ — 1.8 —

42½ 23⅞ SRT Marine Sys 41½ -¼ — 17.1

154¾ 103 StatPro 145½ +1 2.0 -181.9

12⅞ 8⅞ Sterling Energy 9½ -¼ — -13.0

94 63½ Tribal Gp 65½ — 1.7 31.2

⅜ ⅛ Union Jack Oil ¼ — — -30.2

95 55 Walker Green 84 — 3.9 11.7

2⅛ ½ Xtract Resources 1¼ — — -6.2

1890 1292½ Young & Co - A 1620 +5 1.3 25.2

1290 1000 Young & Co - N/V 1155 +25 1.8 20.9

The Alternative Investment Market is for young and growing

companies. Shares may carry higher risks than those with a

full quotation, and may be difficult to sell.

Americans 26 Aug

52 week

High Low Stock Price +/- GrsYd Cvr

45⅝ 16⅝ Alcoa $ 17⅜ -⅛ — —

129⅜ 89 Amer Express $ 117⅞ +⅛ 1.3 5.2

31½ 22⅝ BankAmerica $ 26⅝ +¼ 2.7 3.9

446 292½ Boeing $ 359½ +3½ 2.3 1.1

159⅜ 112 Caterpillar $ 115 +1 3.6 2.6

127⅝ 100¼ Chevron $ 116⅛ +⅞ 4.1 1.6

58⅜ 41⅝ Coca-Cola Euro $ 54¾ +½ 2.4 1.4

76⅜ 57⅜ Colgate Palm $ 72⅞ +⅝ 2.4 1.5

77 60 DuPontDeNemrs $ 64¾ -1¼ 1.9 2.9

87⅜ 64⅝ Exxon Mobil $ 68 +½ 5.1 1.2

18½ 12⅛ Fiat Chrysler $ 12¾ +¼ 5.8 1.0

68 33¾ Foot Locker $ 34⅞ +⅞ 4.4 3.2

13¾ 6⅝ Gen Electric $ 8 ... 0.5 61.5

222⅝ 158⅛ Home Depot $ 218⅜ +1 2.5 1.8

178½ 123½ Honeywell $ 157⅛ +⅝ 2.1 2.9

27⅛ 17⅛ HP $ 18 +¼ 3.6 3.9

154⅜ 106 IBM $ 130¼ +⅝ 5.0 1.5

128¼ 85⅛ Inger Rand $ 115⅛ +¼ 1.8 2.8

59⅝ 42⅜ Intel $ 45⅝ +⅝ 2.8 3.5

55 37¼ Intl Paper $ 38⅛ +⅝ 5.2 2.0

119¼ 91⅛ JP Morgan Ch $ 106¾ +⅝ 3.0 3.1

149 121 Johnson&John $ 127⅜ -⅜ 3.0 1.6

31 22¼ Keurig Dr Pep $ 26¾ ... 2.2 1.2

98 61⅝ Manpower $ 80⅞ +⅜ 2.7 3.7

24¼ 11½ Marathon Oil $ 11¾ ... 1.7 5.9

221⅞ 156½ McDonalds $ 216¾ +2⅛ 2.1 1.7

87¼ 66⅛ Merck $ 85¾ +¾ 2.6 1.6

141⅝ 94 Microsoft $ 135¼ +1⅞ 1.4 2.8

46½ 34 Pfizer $ 34¾ +⅜ 4.1 1.5

121¾ 78½ Procter & Gamble $ 119½ +2¼ 2.5 0.5

198¼ 141½ Rockwell $ 145⅝ -2¼ 2.7 2.2

144⅜ 100½ United Tech $ 125⅜ +2 2.3 2.1

115½ 85¾ Wal Mart Strs $ 112 +1¼ 1.9 1.4

147⅛ 100⅜ Walt Disney $ 134⅛ +2⅜ 1.3 4.3

32¾ 27⅜ Xerox Hldgs $ 28⅛ +⅜ 3.6 2.3

Europeans 26 Aug

87⅜ 68 AkzoNobel € 81 ... 18.7 1.7

86¾ 58 BMW € 59⅝ +⅞ 5.9 3.0

18⅛ 14¼ Carrefour € 15½ +⅛ 3.0 0.7

162½ 103⅝ Continental AG € 108¼ +1⅜ 4.4 3.1

60 40¼ Daimler € 41⅜ +⅝ 7.9 3.0

81⅛ 59¾ Danone € 79¾ +⅞ 2.4 1.9

32⅛ 23⅜ Deutsche Post € 29 +⅛ 4.0 1.9

15⅞ 13⅜ Deutsche Tele € 14¾ ... 4.7 1.4

104 74¼ Heineken € 94¼ -¼ 1.8 2.0

392⅝ 242¼ LVMH € 353⅝ -1⅞ 1.8 2.0

54 39⅛ LafargeHolcim SFr 46 +¼ 4.4 2.7

24 12⅝ Lufthansa € 13½ +⅜ 5.9 4.8

5¾ 4⅛ Nokia OYJ € 4½ ... 4.4 1.1

118⅝ 82⅝ Michelin € 92 +¼ 4.0 2.5

168⅛ 127 Pernod Ricard € 164¼ +1¾ 1.5 2.4

25⅜ 17⅛ Peugeot € 19⅛ +¼ 4.1 4.1

43⅝ 29 Philips (Kon) € 41⅜ -¼ 2.1 1.8

114⅛ 84⅜ Siemens € 88⅝ +⅜ 4.3 1.8

38½ 20¾ Societe Gen € 22½ +¼ 9.8 1.9

13¾ 10¾ Suez Environ € 13⅜ -⅛ 4.9 0.7

124½ 94⅜ Thales € 105¾ +½ 2.0 2.7

56⅞ 42⅝ Total € 43⅞ +¼ 6.0 1.6

16⅛ 9⅞ UBS AG SFr 10⅜ ... 6.8 1.2

167⅜ 129⅝ Volkswagen € 144 -⅛ 3.3 2.1

Recent issues 23 Aug

52 week

High Low (p) Stock Price (p) +/- Yld P/E

BSF Enterprise 5 — — —

11⅝ 10 Mustang Energy 11 — — —

112⅞ 100⅝ Uniphar 101⅜ +⅛ — —

Bold FTSE100 Stocks ● FTSE250 Stocks

* Ex-dividend † Ex-scrip ‡ Ex-all

§ Ex-rights # Suspended

Cover relates to the previous year’s dividend.

Yields are net of basic rate tax.

52 week

High Low Stock Price +/- GrsYd Cvr

52 week

High Low (p) Stock Price (£) +/- Yld NAV

52 week

High Low (p) Stock Price(£) +/- Yld P/E

52 week

High Low (p) Stock Price (£) +/- Yld NAV

52 week

High Low Stock Price +/- GrsYd Cvr

52 week

High Low (p) Stock Price(£) +/- Yld P/E

52 week

With the London stock market High Low (p) Stock Price(£) +/- Yld P/E

closed for the Bank Holiday, our

tables today show the last pricing

date of the stocks in the sector

headers. Normal listings will

resume tomorrow.

© 2019 Tradeweb Markets LLC. All rights reserved. The

Tradeweb FTSE Gilt Closing Prices information contained

herein is proprietary to Tradeweb; may not be copied or

re-distributed; is not warranted to be accurate, complete or

timely; and does not constitute investment advice. Tradeweb

is not responsible for any loss or damage that might result

from the use of this information.

Markets

As China and US

trade blows the

global economy

is biggest loser

P

ushing back at what he

sees as China’s unfair

trading relationship

with the United States is one

of US president Donald

Trump’s top priorities. The

US imposed tariffs on

billions of dollars worth of

Chinese goods in 2018,

pulling the world’s two

economic superpowers into

an increasing feud.

Since then, the countries

have exchanged tit-for-tat

increases, which escalated

sharply in the past month,

after Mr Trump announced

tariffs would be introduced

on a further $300bn

(£245bn) of Chinese goods,

effectively meaning all its

exports to the US have an

extra charge attached.

Why are the

United States and

China feuding?

“The only power that we

have with China,” Mr Trump

said as he campaigned to be

the Republican candidate

for president in 2016, “is

massive trade.”

Mr Trump’s criticism of

China stems from a belief

that the Asian

manufacturing giant has

been ripping off US

technology, and that the

country has been

manipulating its currency to

lower the cost of its goods,

undercutting US firms.

One of the president’s key

stated goals is to reduce the

US’s trade deficit with

China: the difference

between its exports and

imports with the country.

Data varies strongly month

by month, so a fall might not

be immediately obvious, but

the trade war seems to have

had a limited impact on the

annual gap: China, for its

part, has taken a more

reactive stance.

How do you fight a

trade war?

There are two main ways of

waging a trade war: by

putting tariffs on goods, or

by leveraging your

currency. Tariffs have been

the main tool in Donald

Trump’s arsenal. Tariffs are

a form of duty paid when

goods are imported. In

effect, they raise the price

of goods, making it harder

for the seller (in this case,

Chinese firms) to compete. 

China has responded in

kind, but the countries’

trade deficit means there

are much fewer US imports

it can levy than the other

way around. Currencies

also offer a means of

waging economic war,

however. Countries that are

heavily reliant on exporting

(such as China and

Germany) benefit from

their currency being weak,

because it makes their

goods cheaper for foreign

buyers.

How do tariffs

currently stand?

The US is levying a tax of

up to 25pc on $250bn of

Chinese goods, including

some equipment, clothes,

food, minerals and more. It

plans to raise the biggest

tariffs to 30pc from Oct 1.

The US administration is

also planning a tariff of up

to 15pc on a further

near-$300bn of goods

hitting a myriad of products

ranging from dummies to

muffin ovens which will be

introduced in two stages:

one on Sept 1 and the

second on Dec 15.

China levied a tax of 5 to

25pc on $110bn of US goods,

including medical

equipment and some

chemicals. Car imports are

currently being levied at

15pc. Forthcoming: China

has promised extra duties

on $75bn of goods, which

include a return to 25pc

tariffs on automobiles, and

a 5pc tariff on auto parts.

What impact is the

trade war having?

The costs of tariffs are

typically shouldered by

the importer, meaning

that the companies most

directly paying the price

are those in the US. This is

a point Mr Trump appears

to misunderstand:

repeatedly insisting

China pays the rates,

despite even his own aides

contradicting him.

Some sectors have

already been heavily

impacted, with agricultural

sectors like the US soybean

market slumping after

Chinese demand dried up.

In China, the biggest

impact is on capital

spending, as investors

inside and outside the

country grow more

cautious. Exports and

factory production have

both also dropped, with the

country’s economy growing

at its lowest pace in 27 year

during the second quarter

of this year. Chinese

consumers, though appear

to have continued spending.

So what

happens next?

Right now, there’s no clear

end in sight. The countries

are set to resume talks next

month, but an exact date

has not yet been

announced. 

“China is running into

the limits of how much it

can inflict pain on the US

without also hurting itself,”

say analysts at Capital

Economics, while in the

US Mr Trump must find a

way to manage public

opinion if negative effects

continue to be felt.

As it stands, tariffs will

begin to tick up at the start

of September – and what

happens after that is

anyone’s guess.

BUSINESS BULLETIN

KPMG sees bids

for pension arm

Lane Clark & Peacock, one

of the UK’s largest financial

consultancy firms, is said to

be among the companies

attempting to snap up

KPMG’s pensions arm.

According to Sky News,

KPMG is looking for around

£200m for the division.

Siemens to build

power stations

Siemens has been awarded

the contract to build two

converter stations as part of

the first high-voltage

direct-current link between

the UK and Denmark,

dubbed Viking Link. HVDC

power exchange allows for

renewable energy transfer.

Danske probe

decision close

Denmark’s financial

watchdog said it is close to a

decision on whether it will

report the troubled lender

to police for overcharging

retail investors. The bank is

separately being probed

over its links to a large

money-laundering scandal.

Cuadrilla breaks

tremor record

Fracking company Cuadrilla

broke its own tremor record

for the third time in a week

after a quake that registered

2.9 on the Richter scale. It

said no fracking had been

occurring at the time, saying

that it is “investigating

alongside regulators”.

Trade war What tariffs

have been announced

SOURCES: US CENSUS,

CHINA MINISTRY OF FINANCE

Chinese goods

already tariffed

and facing

higher rates

$2 5 0bn

New

tariffs

planned

$ 3 00bn

Not

facing

tariffs

$2 5 bn

US exports to China (2018: $156bn)

Chinese exports to US (2018: $540bn)

US goods

already tariffed

$46bn

Facing higher

rates

$64bn

Not facing

tariffs

$ 35 bn

New tariffs

planned

$11bn

Numbers based on announced figures,

2019 totals are not yet known

US trade with China, $bn

Exports

Imports

SOURCE:

US CENSUS

2018 total

trade deficit

$419bn

2007-10 Global

financial crisis

0

1985 95 05 15

200

400

600

26 **^ Tuesday 27 August 2019 The Daily Telegraph

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