Professional Documents
Culture Documents
UK Main (Market) Day Trader: 11 April 2012
UK Main (Market) Day Trader: 11 April 2012
Day Trader
11 April 2012
Intellisys
www.intellisys.uk.com
11 April 2012
Contents
Market Pictures - Indices ......................................................................... 5
FTSE 100 ................................................................................................ 5
FTSE 250 ................................................................................................ 6
FTSE All Share Index ................................................................................ 7
FTSE AIM All Share .................................................................................. 8
Market Pictures Interest Rates ............................................................ 10
UK Bank Lending Rates ........................................................................... 10
Eurozone Lending Rates.......................................................................... 11
US Federal Funds Rate ........................................................................... 12
Market Pictures Exchange Rates ......................................................... 13
Market Pictures - Oil............................................................................... 15
Aerospace & Defence
....................................................................... 16
Automobiles & Parts
........................................................................ 16
Banks
....................................................................................... 16
Beverages
.................................................................................. 16
Chemicals
.................................................................................. 16
Construction & Building Materials
........................................................ 16
Electronics & Electrical Equipment
....................................................... 17
Engineering & Machinery
.................................................................. 17
Food & Drug Stores
......................................................................... 17
Food Producers & Processors
............................................................. 17
General Retail
............................................................................... 18
Health
........................................................................................ 18
Household Goods & Textiles
.............................................................. 18
Information Technology & Hardware
.................................................... 18
Insurance
.................................................................................. 18
Leisure & Hotels
............................................................................ 19
Life Assurance
............................................................................ 19
Media & Entertainment
.................................................................... 19
Mining
........................................................................................ 19
Oil & Gas
..................................................................................... 20
Personal Care & Household Products
.................................................... 20
Pharmaceuticals & Biotechnology
........................................................ 20
Software & Computer Services
........................................................... 20
Speciality & Other Finance
................................................................ 20
Support Services
............................................................................ 21
Telecommunication Services
.............................................................. 21
Transport
.................................................................................. 21
Utilities
..................................................................................... 22
DISCLAIMER ............................................................................................. 23
Page 2 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Introduction
The overriding purpose of this daily report is to provide users with a quick guide
that will identify those shares that merit their investment attention in an
increasingly time critical and information noisy trading environment.
The report is published daily and delivered to the subscribers personal email box,
typically, before the official open of the London Stock Markets.
Putting aside luck, Intellisys recognises that the timing and value of an
investment are the two primary drivers behind a successful portfolio performance.
Timing
Intellisys has invested considerably in identifying what it believes are the key
factors that influence investment timing. Having identified the key parameters,
these have been established as rules that reflect market dynamics and cut
through the daily investment noise.
Through this discipline, Intellisys has removed the emotional and sentimental
factors as well as the daily pressures exerted upon primary stock promoters
(analysts and traders) to find stories for their investment meetings.
From an analysis of a years data for 40 stocks within Intellisys stock coverage,
the trading indicators appear to be, on average, about 77% accurate in
identifying good trading points as well as some 74% accurate for overall trend
correlation.
The following chart provides an indication the accuracy scores for each of the 40
stocks analysed.
120.0%
110.0%
110.0%
100.0%
100.0%
90.0%
90.0%
80.0%
80.0%
70.0%
70.0%
60.0%
60.0%
50.0%
50.0%
40.0%
40.0%
30.0%
30.0%
20.0%
20.0%
1
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
Best Buy/Sell
Trend
Source: Intellisys
Page 3 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Value
A similar discipline has been applied to the process of establishing Target Prices.
On a daily basis, Intellisys analyses as broad an array of historic data from not
only the Profit & Loss Account but also the Balance Sheet and Cash flow
Statement and then utilises this data within its proprietary valuation models.
Intellisys architect, Philip Morrish, has successfully applied these disciplines to his
investment research for the last 15+ years. Additionally, these investment
valuation techniques lend themselves to accurate cross-border analysis.
The resultant Target is also discounted to a Net Present Value to make the
Target as realistically valid as possible.
Nevertheless, Intellisys recognises that Target Price delivery is not only a
function of market levels but a management teams ability to establish and
maintain a value generating operating environment set against a constantly
changing global background.
The typical investment analysts approach to determining target prices is to start
with a modest range of some 6 10 valuation measures and remove those that
are not providing the intuitive result. Intellysis approach is the opposite we use
as many valuation methodologies as possible.
Further, Intellisys recognises that some target prices may appear strange or
extreme. However, subscribers should not dismiss these outcomes but use them
as starting points to challenge their established or perceived valuation opinion of
a stock.
In short, this disciplined approach provides an investment reality check to assist
investors from falling in love with a stock or becoming mesmerised by
management cults.
Conclusion
No investment methodology is 100% successful and like all trading and
investment systems active position monitoring is critical for maximised
investment performance.
Therefore, Intellisys recommends that its products should be used in conjunction
with, and not separate from subscribers existing investment systems as well as
discussing investment options with their financial advisers.
Page 4 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Index
FTSE 100
FTSE 100 PE
6,732.4
5Y Hi
5Y Hi
18.2
18.2
3Y Hi
6,091.3
3Y Hi
1Y Hi
6,082.9
1Y Hi
Last Close
5,595.6
1Y Lo
Last Close
4,944.4
3Y Lo
3,968.4
5Y Lo
14.1
9.5
1Y Lo
7.9
3Y Lo
7.9
5Y Lo
3,512.1
2000
4000
6000
7.0
5
8000
% change
1M
-5.0; 3M
10
15
20
% change
-1.8; 12M
-7.6
1M
-5.3; 3M
Yield
-8.2; 12M
-32.4
RSI
FTSE 100 DY
5Y Hi
6.2
74.8
Hi
3Y Hi
5.2
1Y Hi
3.9
Last Close
3.7
1Y Lo
Last Close
27.7
3.0
3Y Lo
2.9
Lo
25.5
2.9
5Y Lo
1.0
3.0
5.0
7.0
20
40
60
80
% change
1M
6.3; 3M
Page 5 of 24
5.4; 12M
24.2
Intellisys
www.intellisys.uk.com
11 April 2012
Index
FTSE 250
FTSE 250 PE
5Y Hi
12,220.2
5Y Hi
27.8
3Y Hi
12,167.8
3Y Hi
27.8
1Y Hi
12,167.8
1Y Hi
Last Close
Last Close
11,136.2
1Y Lo
3Y Lo 7.1
6,978.9
5Y Lo
5Y Lo 7.1
5,491.5
500
18.1
1Y Lo 7.1
9,425.9
3Y Lo
19.5
5500
10500
15500
% change
1M
-3.4; 3M
10
15
20
25
30
% change
7.6; 12M
-5.0
1M
4.8; 3M
Yield
15.6; 12M
4.9
RSI
FTSE 250 RSI
FTSE 250 DY
5Y Hi
5.7
Hi
3Y Hi
83.4
3.8
1Y Hi
3.3
Last Close
Last Close
2.9
1Y Lo
30.6
2.3
3Y Lo
2.2
Lo
5Y Lo
25.6
1.9
1.0
2.0
3.0
4.0
5.0
6.0
20
40
60
80
100
% change
1M
4.4; 3M
Page 6 of 24
-5.6; 12M
21.1
Intellisys
www.intellisys.uk.com
11 April 2012
Index
FTSE ALL SHARE
5Y Hi
3,479.0
5Y Hi
19.5
19.5
3Y Hi
3,160.9
3Y Hi
1Y Hi
3,160.9
1Y Hi
Last Close
Last Close
2,911.3
1Y Lo
2,557.8
3Y Lo
2,033.9
5Y Lo
10.2
1Y Lo
8.5
3Y Lo
8.5
5Y Lo 7.4
1,781.6
500
14.6
1500
2500
3500
4500
% change
1M
-4.7; 3M
10
15
20
25
% change
-0.4; 12M
-7.2
1M
-4.4; 3M
Yield
-5.6; 12M
-29.2
RSI
FTSE ALL SHARE RSI
5Y Hi
6.1
Hi
3Y Hi
74.8
5.0
1Y Hi
3.8
Last Close
Last Close
3.6
1Y Lo
28.1
2.9
3Y Lo
2.8
Lo
5Y Lo
25.4
2.7
1.0
3.0
5.0
7.0
20
40
60
80
% change
1M
6.0; 3M
Page 7 of 24
3.2; 12M
23.2
Intellisys
www.intellisys.uk.com
11 April 2012
Index
FTSE AIM ALL-SHARE
5Y Hi
1,236.6
3Y Hi
5Y1,439.5
Hi
968.3
1Y Hi
3Y1,240.8
Hi
921.6
Last Close
1Y304.6
Hi
773.2
1Y Lo
-215.8
Last Close
657.8
1Y Lo
-203,906.0
3Y Lo 431.4
3Y Lo
-203,906.0
5Y Lo373.8
5Y Lo
-203,906.0
200
700
1200
1700
-250000
-200000
% change
1M
-4.6; 3M
5.9; 12M
-150000
-100000
-50000
50000
% change
-16.0
Yield
RSI
5Y Hi
2.1
Hi
3Y Hi
91.9
1.8
1Y Hi
0.8
Last Close
0.7
1Y Lo
Last Close
30.7
0.6
3Y Lo
0.5
Lo
23.6
5Y Lo 0.4
0.2
0.7
1.2
1.7
2.2
50
100
% change
1M
9.4; 3M
Page 8 of 24
0.0; 12M
18.6
Intellisys
www.intellisys.uk.com
11 April 2012
Index
S&P 500 COMPOSITE
5Y Hi
1,565.2
5Y Hi
146.3
146.3
3Y Hi
1,419.0
3Y Hi
1Y Hi
1,419.0
1Y 17.5
Hi
Last Close
1Y Lo
1Y13.4
Lo
1,099.2
3Y Lo
5Y Lo
Last Close
16.3
1,358.6
3Y13.4
Lo
832.4
5Y13.4
Lo
676.5
400
900
1400
10
1900
% change
1M
-0.9; 3M
60
110
160
% change
5.2; 12M
2.3
1M
5.2; 3M
Yield
10.8; 12M
-5.9
RSI
S&P 500 COMPOSITE RSI
5Y Hi
3.4
Hi
3Y Hi
81.6
2.7
1Y Hi
2.4
Last Close
2.1
1Y Lo
Last Close
28.5
Lo
28.5
1.9
3Y Lo
1.8
5Y Lo
1.8
0.5
1.5
2.5
3.5
4.5
20
40
60
80
100
% change
1M
-0.5; 3M
Page 9 of 24
-2.3; 12M
12.6
Intellisys
www.intellisys.uk.com
11 April 2012
5.75
3Y Hi 0.50
1Y Hi 0.50
Last Close 0.50
1Y Lo 0.50
3Y Lo 0.50
5Y Lo 0.50
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
% change
1M
0.0; 3M
0.0; 12M
0.0
UK Lending PE
200.0
1Y Lo
200.0
Last Close
200.0
1Y Hi
200.0
3Y Hi
200.0
5Y Hi
200.0
10
Page 10 of 24
60
110
160
210
Intellisys
www.intellisys.uk.com
11 April 2012
5.25
3Y Hi
2.25
1Y Hi
2.25
Last Close
1.75
1Y Lo
1.75
3Y Lo
1.75
5Y Lo
1.75
0.00
1.00
2.00
3.00
4.00
5.00
6.00
% change
1M
0.0; 3M
0.0; 12M
0.0
Eurozone Lending PE
19.0
3Y Lo
44.4
1Y Lo
44.4
Last Close
57.1
1Y Hi
57.1
3Y Hi
57.1
5Y Hi
57.1
10
Page 11 of 24
20
30
40
50
60
Intellisys
www.intellisys.uk.com
11 April 2012
5.41
3Y Hi0.25
1Y 0.17
Hi
Last Close
0.16
1Y0.04
Lo
3Y0.04
Lo
5Y0.04
Lo
0.00
1.00
2.00
3.00
4.00
5.00
6.00
2510
3010
% change
1M
33.3; 3M
100.0; 12M
77.8
US Lending PE
400.0
1Y Lo
588.2
Last Close
625.0
1Y Hi
2,500.0
3Y Hi
2,500.0
5Y Hi
2,500.0
10
Page 12 of 24
510
1010
1510
2010
Intellisys
www.intellisys.uk.com
11 April 2012
US$/
5Y Hi
2.11
3Y Hi
1.70
1Y Hi
1.67
Last Close
1.58
1Y Lo
1.53
3Y Lo
1.43
5Y Lo
1.37
1.00
1.20
1.40
1.60
1.80
2.00
2.20
1.50
1.60
% change
1M
0.9; 3M
2.3; 12M
-3.3
EURO/
5Y Hi
1.50
3Y Hi
1.24
1Y Hi
1.21
Last Close
1.21
1Y Lo
3Y Lo
1.11
1.07
5Y Lo
1.02
1.00
1.10
1.20
1.30
1.40
% change
1M
Page 13 of 24
1.2; 3M
-0.1; 12M
6.7
Intellisys
www.intellisys.uk.com
11 April 2012
US$/EURO
5Y Hi
1.60
3Y Hi
1.51
1Y Hi
1.48
Last Close
1.31
1Y Lo
1.27
3Y Lo
1.19
5Y Lo
1.19
0.80
1.00
1.20
1.40
1.60
1.80
% change
1M
-0.2; 3M
2.4; 12M
-9.7
YEN/
5Y Hi
250.1
3Y Hi
162.5
1Y Hi
Last Close
139.0
128.1
1Y Lo 117.1
3Y Lo 117.1
5Y Lo 117.1
100.0
150.0
200.0
250.0
300.0
% change
1M
Page 14 of 24
-0.8; 3M
7.7; 12M
-8.0
Intellisys
www.intellisys.uk.com
11 April 2012
145.6
3Y Hi
126.6
1Y Hi
126.6
Last Close
121.2
1Y Lo
104.0
3Y Lo
48.3
5Y Lo
34.6
0
50
100
150
200
% change
1M
-4.02; 3M
6.68; 12M
-3.61
Page 15 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Price
289.7
377.7
229.1
392.7
798.5
1006
1689
370.5
12M Lo
248.1
368.8
165.9
305
552.19
869.5
1305
243.5
12M Hi
340.8
707
235.5
412
842.5
1340
1780
499.88
ST Rec
Buy
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.646
0.519
0.907
1.338
1.098
0.725
0.597
0.800
Price
189.7
354.3
61.25
13.5
12M Lo
157
268.6
47
6.8
12M Hi
245
425.4
72.75
19.71
ST Rec
Neutral
Neutral
Neutral
Neutral
Beta
1.977
1.415
1.343
1.135
Price
206.3
537
29.8
24.72
1481.5
12M Lo
138.85
463.5
21.84
17.34
1169.5
12M Hi
308.85
662.5
62.36
44.43
1678.5
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.860
1.142
1.768
1.291
1.707
Price
1141
1503
2490
12M Lo
1031
1112
1979
12M Hi
1395
1553
2660
ST Rec
Neutral
Neutral
Neutral
Beta
0.427
0.547
0.987
Price
2050
187.5
2247
1383
232.4
176
12M Lo
1597
107.5
1523
1025
148
109
12M Hi
2238
196.1
2408
1590
253
186.5
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.082
1.070
1.465
1.222
1.289
1.008
Price
274.4
127.7
782.5
1302
466.5
280
49.63
231.25
596
425
1095
57.75
95.5
669
615
122.8
110
47.52
1025
2250
12M Lo
214.6
67.5
540.5
1019
326.5
280
35.5
180
383.75
239.25
1095
38
83.25
510
374
103.5
76.95
28.71
715
1404
12M Hi
333.7
151.5
859.5
1414
518.5
403.2
104
247.5
628
671.5
1489
76.75
124.5
725
706.5
135.3
153.5
52.75
1125
2558
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Buy
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.836
1.447
1.013
0.682
1.070
1.092
0.804
0.558
1.052
1.323
1.040
1.106
1.353
0.887
1.099
0.971
1.590
1.497
1.893
1.439
Banks
Stock
BARC LAYS
HSBC HDG. (ORD $0.50)
LLOYDS BANKING GROUP
ROYAL BANK OF SC TL.GP.
STANDARD C HARTERED
Beverages
Stock
BARR (AG)
DIAGEO
SABMILLER
Chemicals
Stock
C RODA INTERNATIONAL
ELEMENTIS
JOHNSON MATTHEY
VIC TREX
YULE C ATTO
ZOTEFOAMS
Page 16 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Price
927.5
570
118
191.1
211.6
1142
1268
1724
0.21
160
228
12M Lo
643.5
434.3
86.75
180.9
127.9
714
800
1039
0.14
120.5
212
12M Hi
935
701.5
146.5
340.6
219
1262
1886
1837
0.28
208
295
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.762
1.178
1.352
1.470
2.167
0.990
1.288
1.429
0.639
1.600
1.134
Price
83.25
365.1
302.5
691.5
406
376.3
325
923
8.75
301.5
2007
191.6
175
2106
670
1667
12M Lo
62.5
225.6
252.5
395.8
280
306.3
235
636.5
7.25
224
1501
135.6
150
1649
488
1375
12M Hi
124.5
426.5
358
732.5
483.7
429.6
393.5
1119
12
360
2099
203
252
2184
690
2236
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Beta
1.321
1.585
0.984
2.288
1.412
0.764
1.412
1.404
0.855
1.771
0.987
1.765
1.065
0.850
1.517
1.385
Price
510.5
287.5
298.3
315.25
29.88
12M Lo
445
277
263.5
310.45
9.5
12M Hi
558
328
362.8
420.05
82
ST Rec
Neutral
Neutral
Neutral
Neutral
Sell
Beta
0.516
0.446
0.638
0.733
0.766
Price
1187
807
320.3
310.8
15
698.5
2015
12M Lo
977
588.5
311
232
3.29
544.5
1892
12M Hi
1233
841
409.7
332.2
35.12
720.5
2189
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.599
0.598
0.931
0.333
1.403
0.627
0.582
Page 17 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
General Retail
Stock
ASHLEY(LAURA) HOLDINGS
BROWN (N) GROUP
BURBERRY GROUP
C ARPETRIGHT
C LINTON C ARDS
DIXONS RETAIL
FINDEL
FRENC H C ONNEC TN.GROUP
HALFORDS GROUP
JJB SPORTS
JD SPORTS FASHION
KESA ELEC TRIC ALS
KINGFISHER
MARKS & SPENC ER GROUP
MOSS BROTHERS GROUP
MOTHERC ARE
NEXT
TED BAKER
TOPPS TILES
Price
22.25
224.4
1530
618.5
9.63
17.58
3.33
43.75
295
15.25
793
61.55
298.9
363.4
48
154.25
2937
823
38.5
12M Lo
16
224.4
1092
375
7.5
9.36
2.2
36
269.5
5.2
570
60.2
217
301.8
25.5
127.3
2087
633
21.5
12M Hi
23.75
304.5
1600
741
19.75
19.91
8.7
106
405.9
31
1030
151.4
313.8
402.2
48.25
448.5
3060
830
77
ST Rec
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.710
0.485
1.363
1.034
0.654
1.451
0.968
0.929
0.637
0.875
0.484
1.279
0.970
0.739
1.065
0.562
0.777
0.561
1.325
Price
640
40.25
613
12M Lo
498
36.5
521
12M Hi
640
59
698.5
ST Rec
Neutral
Neutral
Neutral
Beta
0.393
0.756
0.355
Price
38.75
570
296.75
94.5
12M Lo
21.75
405
233.25
93
12M Hi
42.13
577.5
310
145
ST Rec
Neutral
Neutral
Neutral
Neutral
Beta
0.483
0.381
0.926
0.653
Price
582.5
214.8
33.75
670
57.75
161.3
183.25
12M Lo
464
154.1
14.5
296.9
41
105.8
96
12M Hi
645
391.4
33.75
717
102.75
162.2
244.5
ST Rec
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Beta
0.762
1.202
0.659
0.959
1.162
1.014
1.064
Price
1195
319.6
138.5
414.5
388.4
683.5
102.8
371
12M Lo
787
270.6
109.6
336
340.5
576
99.6
285
12M Hi
1754
427
151.8
449
424.7
764.5
139.8
385.25
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.513
0.488
0.512
0.306
0.496
0.318
0.432
0.497
Health
Stock
C ONSORT MEDIC AL
C ORIN GROUP
SMITH & NEPHEW
Insurance
Stock
ADMIRAL GROUP
AMLIN
BEAZLEY
C ATLIN GROUP
HISC OX
JARDINE LLOYD THOMPSON
RSA INSURANC E GROUP
NOVAE GROUP
Page 18 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Price
1900
56.5
188.5
710
503.5
157.5
1415
472.8
251.5
159.5
10.75
126.5
291.8
404.3
1815
257.7
96.45
12M Lo
1742
26.5
136.7
600
410
114
955
371.2
215.6
100.6
9.14
109.5
254.9
380.5
1409
180
84.6
12M Hi
2642
96.15
250
752
523.5
165
1497
540
336.8
174
15.7
153.7
335
468.3
1870
265
112
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.076
1.728
0.951
0.441
0.864
0.997
1.310
1.405
1.023
1.256
1.295
0.987
0.852
0.724
1.017
0.943
1.255
Price
305.2
192
123.9
151
718
337.2
12M Lo
275.3
161.75
89.8
98.05
509
294
12M Hi
452.7
255
135
164.6
797.5
376
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.259
0.582
1.666
1.660
1.721
0.814
Price
174.9
109.25
654
34.5
438
730
425.8
213.7
82.25
6.43
1119
44.75
275.63
27.75
115.13
76.25
36
588.5
96.5
821
3.66
12M Lo
116.17
91.25
618.5
32.5
343.4
522.5
313.9
157.7
51.65
4.11
1038
41.5
189.75
26.21
76.25
68.5
35.25
416
78.5
578
3.35
12M Hi
187.4
138
850
56.25
505.5
809.5
451
258
89.9
8.18
1255
67
292
39.25
168
102.25
54.25
641.5
154.75
880
11
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.306
0.507
0.607
1.041
1.086
1.054
1.517
1.418
1.521
1.461
0.662
0.857
0.348
0.509
0.811
1.450
1.566
1.296
0.863
1.290
1.318
Price
2201.5
300
1072
1831.5
966.5
5425
3306
15.5
1155
1066.5
12M Lo
2138.5
237.9
900.5
1667
941
4580
2712.5
15
928
764
12M Hi
3339.5
340
1491
2631.5
1743
7565
4595
47
2431
1550
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.748
0.947
1.384
1.402
1.918
0.333
1.424
0.941
2.095
1.782
Life Assurance
Stock
AVIVA
C HESNARA
LEGAL & GENERAL
OLD MUTUAL
PRUDENTIAL
ST.JAMES'S PLAC E
Mining
Stock
ANGLO AMERIC AN
ANGLO PAC IFIC GROUP
ANTOFAGASTA
BHP BILLITON
LONMIN
RANDGOLD RESOURC ES
RIO TINTO
UK C OAL
VEDANTA RESOURC ES
XSTRATA
Page 19 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Price
1369.5
445.35
321.2
10
893.5
148
119
381.9
2121.5
2146.5
284.8
1428
671
12M Lo
1144
363.2
291.86
9
530
120.5
95.25
310
1883.5
1890.5
278
945.5
469.9
12M Hi
1547
504.6
515.11
14.75
968
327.5
297
512.25
2402
2489
397.5
1601
763.5
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.701
1.059
1.360
0.861
1.304
1.355
1.142
1.359
0.912
0.922
0.465
1.064
1.356
Price
122.75
310
3466
12M Lo
108.75
285
3100
12M Hi
151.06
387.9
3599
ST Rec
Neutral
Neutral
Neutral
Beta
0.873
0.741
0.335
Price
3.5
2768.5
346.6
496
1410.5
3
7.25
1985
33.5
24.75
12M Lo
3.13
2543.5
232.9
433
1205
2.88
6.4
1818
31
18.75
12M Hi
5.35
3194
365
579
1497
7.2
9.5
2300
66.13
49
ST Rec
Buy
Neutral
Neutral
Neutral
Neutral
Buy
Buy
Neutral
Neutral
Neutral
Beta
0.967
0.454
0.726
0.315
0.485
0.613
0.924
0.631
0.702
0.824
Price
22.38
123.25
1579
406.5
303
20
85.85
466.8
348
190
75.75
1524
290.9
12M Lo
21.75
57.75
1298
324.7
225
16.63
58.95
242.9
214.9
154.75
41.5
1444
231.7
12M Hi
27
129.75
1799
490
520
23
144.8
473
420.2
262.75
156.63
2109
312.4
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.731
0.836
1.479
1.092
1.110
0.922
1.357
0.748
1.326
0.879
0.482
0.818
0.649
Price
256.4
167
9750
290
155.25
750
64.75
1.7
119.8
361.6
259.9
355.5
1023
113.6
1246
1424
1107
12M Lo
167.8
113.7
8800
240
115.63
590
56.05
1.36
95.05
311.6
197.9
318.4
756.5
104.5
977
1183
970
12M Hi
269.1
177
10950
350
160
820
81.7
14.25
169.4
524
345
522
1076
259.6
1316
1906
1554
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Buy
Neutral
Neutral
Neutral
Beta
1.073
0.722
0.870
0.956
0.699
0.831
0.912
0.668
1.416
1.062
1.647
1.555
1.168
1.270
0.738
1.305
1.299
Page 20 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Support Services
Stock
AC AL
AGGREKO
AMEC
ASHTEAD GROUP
BABC OC K INTL.
BRITISH POLYTHENE INDS.
BUNZL
UK MAIL GROUP
C APITA
C OMMUNISIS
C OMPASS GROUP
BERENDSEN
DE LA RUE
DIGNITY
DIPLOMA
ELEC TROC OMP.
FILTRONA
G4S
HAYS
HOMESERVE
INTERSERVE
INTERTEK GROUP
JOHNSON SERVIC E GROUP
MANAGEMENT C NSL.GP.
MENZIES (JOHN)
MIC HAEL PAGE INTL.
MITIE GROUP
MOUC HEL GROUP
OFFIC E2OFFIC E
PAYPOINT
PREMIER FARNELL
REGUS
RENTOKIL INITIAL
REXAM
RIC ARDO
ROBERT WALTERS
RPC GROUP
RPS GROUP
SERC O GROUP
SHANKS GROUP
SPEEDY HIRE
TRIBAL GROUP
TRIFAST
VP
WYG
WSP GROUP
Price
199
2111
1077
232
808.5
339
990
229
723
33
630
513.5
885.5
823
417.8
229.9
472
273.1
80.7
221
270.1
2447
29.75
39
597.5
453.9
271.4
7.75
160.5
647
202.7
111.9
85.45
412.6
351.5
254.5
361.2
229.8
537.5
95
27
72.25
43
250
54.5
245.5
12M Lo
166.25
1522
740.5
99.4
570.5
270
676.5
192.25
611.5
23.75
512.5
402.7
730
714
284
182.2
296.3
219.9
58.85
214.7
252.75
1744
25.25
27.75
445.5
323
199.9
4.75
122
450
144.5
64
58.2
299.8
325
158.25
300.5
156.6
458
90.8
18.5
38.5
36.25
191
47
160
12M Hi
344
2316
1207
271.1
828
392.5
1028
318.5
767
39.75
671
568
1001
854.5
453
294.9
479.1
292.1
119.6
532
341.25
2570
36
45.5
614
567
288.3
81.75
166.5
670
301
117.5
100.9
436
410
326
393.2
253
597.5
130.9
34
79.75
52.88
258
956.25
366.75
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Beta
0.938
1.162
1.008
1.523
0.556
0.730
0.542
0.342
0.434
0.765
0.710
1.017
#NA
0.202
1.013
1.014
1.114
0.584
0.981
0.654
1.346
0.864
1.137
0.680
1.467
1.350
0.610
0.913
0.393
0.719
1.184
1.396
1.296
0.868
0.819
1.252
0.837
1.576
0.571
1.460
1.311
0.625
0.880
0.903
0.766
0.949
Price
218.6
31.48
432.8
69.9
685
169.7
12M Lo
161
31.25
389.3
59.75
470
155.05
12M Hi
232.1
48.92
620
84
802
182.7
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.919
0.649
0.532
1.268
0.044
0.626
Price
206.3
396.5
1319
475.3
198.5
599.5
1135
229.1
196.6
238.3
61
12M Lo
156
282
1015
302.54
198.5
440.5
1135
201.6
190.9
215.9
56
12M Hi
223.4
505
1367
495.8
370.2
605
1598
270.2
346.7
287.4
123.25
ST Rec
Neutral
Neutral
Neutral
Neutral
Buy
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
1.406
0.944
0.812
0.767
1.076
0.825
0.940
1.284
1.380
0.876
0.851
Telecommunication Services
Stock
BT GROUP
C ABLE & WIRELESS C OMMS.
INMARSAT
KC OM GROUP
TELEC OM PLUS
VODAFONE GROUP
Transport
Stock
BBA AVIATION
BRAEMAR SHIPPING SVS.
C LARKSON
EASYJET
FIRST GROUP
FISHER(JAMES)& SONS
GO-AHEAD GROUP
NATIONAL EXPRESS
NORTHGATE
STAGEC OAC H GROUP
WINC ANTON
Page 21 of 24
Intellisys
www.intellisys.uk.com
11 April 2012
Utilities
Stock
C ENTRIC A
NATIONAL GRID
PENNON GROUP
SEVERN TRENT
UNITED UTILITIES GROUP
Page 22 of 24
Price
313.6
633
705
1532
595
12M Lo
278.8
569
620
1375
560
12M Hi
333
659
737.5
1610
637
ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Beta
0.486
0.550
0.590
0.461
0.575
Intellisys
www.intellisys.uk.com
11 April 2012
DISCLAIMER
Intelligent Analysis Limited has prepared this report. Intellisys (Intellisys) is the trading
name of Intelligent Analysis Limited.
Intelligent Analysis Limited is a provider of financial research reports that indicate the possible
value of quoted company shares. The information contained within any and all of Intellisys
reports are designed to present an objective assessment of the possible value or relative value
of a company and/or an actuarial sector or stock market index. Intellisys utilises as extensive
as possible range of valuation tools and proprietary systems to derive its outputs. The base
data for the models are derived from sources believed to be accurate but Intelligent Analysis
Limited does not warrant or guarantee the accuracy or reliability of the source data or its
models and proprietary systems. Subscribers, and casual readers, should not rely upon the
Intellisys research outputs when forming specific investment decisions but should seek advice
specific to their situation and investment requirements from a person authorized under the
Financial Services and Markets Act 2000, before entering into any investment agreement.
Intelligent Analysis Limited has used reasonable care and skill in compiling the content of this
report. No representation or warranty, expressed or implied, is given by any person as to the
accuracy or completeness or accuracy of the information and no responsibility or liability is
accepted to the accuracy or sufficiency of any of the information, for any errors, omissions or
misstatements, negligent or otherwise. In no event will Intelligent Analysis Limited, Intellisys
or any of its officers, employees or agents be liable to any other party for any direct, indirect,
special or other consequential damages arising from the use of this report.
The Intelligent Analysis Limited and/or Intellisys reports are not directed to any person in any
jurisdiction where (by reason of that persons nationality, residence or otherwise) the
publication or availability of the Intelligent Analysis Limited and/or Intellisys information may
be prohibited. Persons in respect of whom such prohibitions apply must not access the
Intelligent Analysis Limited and/or Intellisys reports. Neither this document, nor any copy in
whatever form of media, may be taken or transmitted into the United States, Canada,
Australia, Ireland, South Africa or Japan or into any jurisdiction where it would be unlawful to
do so. Any failure to comply with this restriction may constitute a violation of relevant local
securities laws. Recipients of Intelligent Analysis Limited and/or Intellisys reports outside the
UK are not covered by the rules and regulations made for the protection of investors in the UK.
Any user distributing information taken from any Intelligent Analysis Limited or Intellisys
report and/or the Intellisys website, in whatever form, to any other person, agrees to attach a
copy of this Disclaimer and the Terms and Conditions of Use pages and obtain the agreement
of such other person to comply with the terms set forth.
Intellisys' published reports are published for information purposes and only available to
market counterparties, high net-worth and sophisticated individual investors.
No Intellisys report constitutes an offer or invitation to trade, sell, purchase or acquire any
shares or other financial instruments in any company or any interest therein, nor shall it form
the basis of any contract entered into for the sale of shares or any other financial instrument in
any company.
Intelligent Analysis Limited believes that the information within each and any of its reports
be correct, but its accuracy or completeness cannot be guaranteed. No representation
warranty, expressed or implied, is given by any person as to the accuracy or completeness
the information and no responsibility or liability is accepted for the accuracy or sufficiency
any of the information, for any errors, omissions or mis-statements, negligent or otherwise.
Page 23 of 24
to
or
of
of
Intellisys
www.intellisys.uk.com
11 April 2012
Page 24 of 24