Newspaper article The Evening Standard (London, England)

Taking Stock

Newspaper article The Evening Standard (London, England)

Taking Stock

Article excerpt

YOUR AT-A-GLANCE GUIDE

Bank of Ireland has boosted the Irish BANKING AND FINANCE

Bank of Ireland has boosted the Irish cricket team's bonus pool with an extra i 1/233,975 ahead of their clash against England on Friday. Bank of Ireland, which sponsors the team, said that Ireland's shock defeat of Pakistan and entry into the Super 8 stage of the World Cup was "a sponsor's dream"..

BUILDING AND PROPERTY

Speculators continued to nibble away at Taylor Woodrow following news of the i 1/25

billion merger with George Wimpey.

Word is Persimmonmay spoil the party and launch a bid for one of them.

Credit rating agency Fitch has raised Taylor Woodrow's outlook from stable to positive and says the increase in scale should lead to improved profitability..

Diageo was among the best blue-chip CONSUMER

Diageo was among the best blue-chip performers in the Footsie 100 yesterday.

Dresdner Kleinwort has raised its rating for the Guinness and Smirnoff drinks group from hold to add and its target from 1040p to 1090p. The broker sees scope to lift its earnings forecast, with few signs of a slowdown in firsthalf trends among its stronger markets..

ENGINEERING

Siemens executive Johannes Feldmayer will remain in custody for an indefinite period as the slush-fund scandal at the engineering giant reached boardroom level. Feldmayer was arrested yesterday in Munich on allegations of breach of trust and Siemens is now braced for more police raids in the bribery-for-business probe..

HEALTH

Oxford BioMedica has signed a deal for flagship cancer drug TroVax with French pharmaceuticals giant Sanofi- Aventis. Sanofi will pay BioMedica up to e518 million (i 1/2351 million) if development and registration targets are met. The move signalled growing confidence among big drugmakers in the emerging field of cancer vaccines..

INDUSTRIALS

Celsis touched a year's high on the back of yesterday's trading update.

Numis has begun coverage of the laboratory services and industrial microbial detection provider with a buy rating and 257p target. Most of its revenues are generated in the US, where it has already established a good track record for growing sales and profits..

LEISURE

Sportingbet is moving offshore, in part to avoid the 15% tax on online gambling announced in last week's Budget. The group, which will move its headquarters to Alderney in the Channel Islands, also blamed uncertainty over the Gambling Act, which comes into force in September. The move will cost it i 1/213.5 million..

MEDIA

Charles Stanley says that radio broadcaster GCap Media has started to turn the corner, having underperformed for so long. It follows the company's own guidance that advertising revenues will be ahead of the market in the fourth quarter. …

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