Lower down the pecking order PhotoMe fell 5 Felicity Kendal, 57, was born in Warwickshire, but she spent her childhood touring India and the Far East with her parents' theatre company. In 1965 she appeared in the Merchant Ivory film Shakespeare Wallah, which was based on her family's experiences. The same year, to her father's fury, she moved to London to pursue her acting career. Bespak is the main supplier of the device to GSK and sales of the drug are said to be building rapidly.Regal Petroleum put on 1.5p to 86.5p after announcing that drilling is under way at its Kallirachi project in Greece The well should be complete by the end of January. Helphire rose 1.5p to 196.5p on talk that the group has enjoyed record trading over the past three months.. The show is expected to run until Saturday and Axis-Shield will be present to unveil its Afinion diagnostic system The group will market the product in Europe directly However, it will require distributors elsewhere. According to analysts, the Medica trade show is an ideal opportunity for Axis-Shield to demonstrate Afinion to a wide range of distributors and is likely to result in the group securing marketing partners.Meanwhile, brokers tipped Bespak, steady at 437.5p, to benefit from a US Food and Drug Administration ruling earlier this week which gave GlaxoSmithKline's Advair Diskus treatment for smokers' cough the green light. Manchester United was 1.75p higher to 232p after the football giant competed a series of presentations to investors. Man United's management are believed to have assured those present that the business is on track to meet the targets it set in September while also drawing attention to the vast opportunities the club has to grow its brand internationally.Axis-Shield ticked 0.5p higher to 170p as Medica, the key trade show for the healthcare industry, kicked off. Both have exposure to Russia and both were supported by Sun Interbrew, a Sun venture that brews and sells beer in Russia and the Ukraine. The company posted an amazing 71 per cent jump in third-quarter profits as the company sold 490 million litres of beer during the quarter. That part of the world is certainly a growth area for Western brewers.
The Russian market is forecast to grow 5 to 6 per cent per annum for the foreseeable future.Lower down the pecking order, Photo-Me fell 5.25p to 94.75p amid talk that a major institutional shareholder is looking to sell a large chunk of their stake. Merrill pointed out that Amvescap shares have taken a pasting over the past three weeks in response to concerns about the impact on the company of the investigation into the mutual fund industry in the US. The broker argued that investors have overreacted to these concerns and believes the de-rating of Amvescap stock is excessive.Upbeat news from brewers in Russia helped SABMiller 9.5p higher to 557p and Scottish & Newcastle 4.5p better to 364p. Amvescap also lost ground, falling 3p to 399p, despite the best efforts of Merrill Lynch, which raised its recommendation to "buy" from "neutral". Aberdeen Asset Management fell 4.5p to 82p, Exeter Investments gave up 2.5p to 90p and Schroders dropped 1.25p to 696.5p. "You don't have to buy the restaurant if you want to pick from the menu," commented one sector specialist.He certainly has a point. Why should a big pharmaceutical group buy the whole of Alizyme when it can sign licensing deals with the company for those drugs it believes have the best chances of success. |
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