/raid1/www/Hosts/bankrupt/TCREUR_Public/111122.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
E U R O P E
Tuesday, November 22, 2011, Vol. 12, No. 231
Headlines
D E N M A R K
TORM: Postpones Rights Issue; In Debt Revamp Talks
G E R M A N Y
DEUTSCHE HYPO: Fitch Affirms 'C' Ratings on Three Note Classes
H U N G A R Y
* HUNGARY: To Seek Assistance From IMF & European Union
I R E L A N D
BLARNEY WOOLLEN: Incurs Loss; Gets Debt Moratorium
CAVENDISH SQUARE: Fitch Affirms Rating on Class C Notes at 'B-'
MCSWEENEY PHARMACY: Examiner Gets Expressions of Interests
SMORGS LTD: Increased Pre-Tax Losses Prompt Going Concern Doubt
I T A L Y
LEO CONSUMO: DBRS Puts 'BB' Rating on Class B Notes Under Review
UNICREDIT SPA: Posts EUR10.6-Bil. 3Q Loss; Bonds Trading as Junk
* ITALY: Five Biggest Banks May Need Additional Capital
L I T H U A N I A
BANKAS SNORAS: Administrator to Release Report on Nov. 23
SNORAS BANK: Fitch Downgrades Viability Rating to 'f'
N E T H E R L A N D S
EMF-NL: S&P Lowers Rating on Class D Notes to 'B-'
R U S S I A
RUSSIAN STANDARD: Fitch Assigns 'B+' Rating Sr. Unsecured Bonds
SOGAZ: Fitch Affirms Insurer Financial Strength at 'BB+'
* KOMI REPUBLIC: Fitch Lifts Long-Term Currency Ratings to 'BB+'
* YAROSLAVL REGION: Fitch Raises LT Currency Rating to 'BB'
S W E D E N
UNITED COMMUNICATIONS: Posts US$47,000 Net Loss in 3rd Quarter
T U R K E Y
* CITY OF ISTANBUL: S&P Affirms 'BB-' Issuer Credit Rating
U K R A I N E
ALFA-BANK PJSC: Fitch Assigns 'B-' Long-Term Foreign Currency IDR
UNITED CONFECTIONERS: Fitch Affirms Issuer Default Rating at 'B'
* NIZHNIY NOVGORODS: Fitch Rates RUB8-Bil. Domestic Bond at 'B+'
U N I T E D K I N G D O M
AUBURN SECURITIES: Fitch Puts BB+ Rating on Class E Notes on RWN
BLUESTONE SECURITIES: Fitch Affirms CC Ratings on 2 Note Classes
ESTIA MORTGAGE: Fitch Lowers Rating on Class C Notes to 'CCCsf'
FORTMERE HOTEL: R S Power Buys Ramada Park Out of Administration
HARRISON HOLIDAYS: Goes Into Administration, Cuts 20 Jobs
LODERS MOTOR: Faces Possible Administration, Seeks Buyer
NORTHERN ROCK: Fitch Cuts Tier 2 Subordinated Debt Rating to CCC
RADISSON BLU: In Administration, Parent Declared Insolvent
SLEBECH PARK: Goes Into Administration, Seeks Buyer
SUPERGLASS: Secures GBP2-Mil. Scottish Government Grant
TINDALE & STANTON: Bought Out of Administration
X X X X X X X X
* S&P's 2011 Global Corporate Default Now Tally at 41
* Starwood Property Prepares for Fire Sales in Europe
* Large Companies with Insolvent Balance Sheets
*********
=============
D E N M A R K
=============
TORM: Postpones Rights Issue; In Debt Revamp Talks
--------------------------------------------------
Clare MacCarthy at The Financial Times reports that Torm on
Thursday postponed an equity rights issue as it tried to
renegotiate its debt repayment schedule with banks.
The company also unveiled an unexpectedly deep third-quarter net
loss of US$70.4 million, the FT relates.
The worldwide oversupply of ships has pushed the industry into
its worst financial crisis in decades, with earnings well below
operating expenses in many markets pushing companies into heavy
losses, the FT discloses. According to the FT, Niels Erik
Nielsen, Torm's chairman, said that in this environment, the
planned US$100 million rights issue no longer represented "an
appropriate answer". Instead, the company is seeking approval
from its bankers and owners for an alternative rights issue of up
to US$300 million as part of a "comprehensive financing plan".
Torm blamed continued turbulence in the global economy and
"massive pressure" on freight rates for its sharp losses during
the third quarter of 2011, the FT says. Its US$70.4 million net
loss was almost three times the size of the US$26.5 million loss
experienced a year earlier and well above the US$54 million loss
forecast by analysts, the FT notes. Cash flow was a negative
US$51.3 million compared to a positive US$22.1 million cash flow
at the end of the third quarter of 2010, the FT states.
Torm is a Danish oil tanker operator. The company is majority
owned by the Greek Panayotides shipping family.
=============
G E R M A N Y
=============
DEUTSCHE HYPO: Fitch Affirms 'C' Ratings on Three Note Classes
--------------------------------------------------------------
Fitch Ratings has affirmed Deutsche Hypothekenbank's (Actien-
Gesellschaft) commercial mortgage-backed notes as follows:
-- EUR4.8m class B-1A (DE0002537883) affirmed at 'Bsf'; Outlook
Negative
-- EUR4.4m class B-1B affirmed at 'Bsf'; Outlook Negative
-- EUR5m class B-2aA (DE0002537891) affirmed at 'Csf'; Recovery
Rating 'RR5'
-- EUR2m class B-2aB affirmed at 'Csf'; 'RR5'
-- EUR5m class B-2b (DE0002537909) affirmed at 'Csf'; 'RR5'
The affirmations reflect the junior notes' (rated 'Csf') high
risk of default and all tranches' eroding credit protection. The
unrated class B-3 notes continue to absorb losses from resolved
loans. The current tranche balance is EUR1 million, down from
EUR1.8 million in November 2010 (the last rating action) and from
EUR9.3 million at closing in 1999.
Historically for this transaction, loan foreclosures have
resulted in 100% loss severity for the second lien mortgages that
provide the collateral for this transaction (as all recoveries
will be applied towards the redemption of the senior, but not
securitized, first lien portions). There are currently eight
loans in foreclosure proceedings, with an aggregate balance of
EUR2.5 million. These workouts alone are expected to write down
the class B-3 notes and generate approximately EUR1.5 million of
losses on the rated Class B-2 notes.
The outstanding pool of second-lien mortgages amounted to EUR22.3
million as at the last interest payment date (IPD) in July 2011,
or 8.3% of the original transaction size. The issuer has the
right, but not the obligation, to redeem all outstanding notes as
the transaction size has fallen below the 10% threshold.
Delinquent loans account for 37.5% of the current pool, compared
to 30% in 2010 and 22% in 2009.
Due to the second-lien security, the weighted average day-one
loan-to-value (LTV) was, at 83%, already relatively high.
However, due to the periodic revaluation of the underlying real
estate (in a declining market) and high arrears (which
effectively increase the outstanding loan balances of the
affected facilities) the reported weighted average LTV increased
steadily over time and, as at the last IPD, was 184%.
=============
H U N G A R Y
=============
* HUNGARY: To Seek Assistance From IMF & European Union
-------------------------------------------------------
Zoltan Simon at Bloomberg News reports that Hungary requested
help from the International Monetary Fund and the European Union
to bolster investor confidence in the most indebted eastern
member of the European Union that is one step away from junk
grade status.
According to Bloomberg, the Economy Ministry said in an e-mail on
Friday that Hungary may reach an agreement with the groups "in
the first months of next year". Premier Viktor Orban said on MR1
radio on Friday that Hungary wants "insurance" from the IMF that
doesn't infringe on the country's ability to formulate its
economic policy, Bloomberg relates.
The government reversed a policy of shunning IMF assistance after
the forint fell to a record low against the euro and government
bond yields soared, Bloomberg discloses. Standard & Poor's
warned that it may cut Hungary's credit rating to junk this
month, Bloomberg notes.
While the European Commission, the EU's executive arm, is aware
of Hungary's intention to seek aid, it hasn't "received any
request yet," Bloomberg quotes commission economics spokesman
Amadeu Altafaj as saying in Brussels on Friday.
S&P said on Nov. 11 that Mr. Orban's policies, including the
levying of extraordinary industry taxes on several industries and
forcing banks to swallow exchange-rate losses on foreign-currency
mortgages, harmed investment and growth as Europe's debt crisis
is boosting financing risks, Bloomberg recounts.
=============
I R E L A N D
=============
BLARNEY WOOLLEN: Incurs Loss; Gets Debt Moratorium
--------------------------------------------------
Gordon Deegan at Irish Examiner reports that a pre-tax loss of
EUR128,055 incurred by a subsidiary of Blarney Woollen Mills
contributed to the group making an overall loss last year.
Blarney Woollen Mills operates Bunratty Shopping Village in Co
Clare. New figures for the hotel and leisure center show the
company recorded the loss after revenues decreased 9% to
EUR4 million in the 12 months to the end of January this year,
Irish Examiner discloses.
The Blarney Woollen Mills Group doesn't file annual accounts as
it is an unlimited company. However, an auditor's report lodged
by KPMG confirms the group did record a loss in the 12 months to
the end of January, Irish Examiner notes.
The directors' report for Bunratty Shopping Village states that
the group was in breach of covenants relating to various banking
facilities during last year, Irish Examiner says.
"The principal group bankers have also consented to interest-only
payments, together with nominal principle payments where cash
flows allow . . . and have allowed the group a moratorium in
respect of capital repayments on its facilities."
The auditor's report states that the group is dependent for its
working capital on access to bank facilities available to the
group, according to Irish Examiner.
The directors' report for Bunratty Shopping Village states that
the company has identified suitable core and non-core assets that
may be disposed of in order to reduce the group's loan
obligations, without adversely affecting trading activities,
Irish Examiner relates.
However, Bunratty has a shareholders' deficit of EUR138,563 and
owes Blarney Woollen Mills EUR2.99 million, Irish Examiner
discloses.
Blarney Woollen Mills is owned by members of the Kelleher
business family, including Freda Hayes. It merged with Meadows &
Byrne, which was founded by Ms. Hayes in the mid-1990s.
CAVENDISH SQUARE: Fitch Affirms Rating on Class C Notes at 'B-'
---------------------------------------------------------------
Fitch Ratings has affirmed Cavendish Square Funding plc's notes
and Cavendish Square Funding 2 Limited's notes. The transactions
are cash flow securitizations of primarily mezzanine structured
finance assets. The rating actions are as follows.
Cavendish Square
-- Revolving Credit Facility (RCF): affirmed at 'AAAsf';
Outlook Stable
-- Class A1 (XS0241540763): affirmed at 'A-sf'; Outlook revised
to Stable from Negative
-- Class A2 (XS0241541571): affirmed at 'BB+sf'; Outlook
Negative
-- Class B (XS0241542033): affirmed at 'B+sf'; Outlook Negative
-- Class C (XS0241543353): affirmed at 'B-sf'; Outlook Negative
Cavendish Square 2
-- Revolving Credit Facility (RCF): affirmed at 'Asf'; Outlook
Stable
-- Class A1-N (XS0314071506): affirmed at 'Asf'; Outlook Stable
-- Class A2 (XS0314071845): affirmed at 'BBB-sf'; Outlook
Negative
-- Class B (XS0314072223): affirmed at 'BBsf'; Outlook Negative
-- Class C (XS0314072652): affirmed at 'Bsf'; Outlook Negative
-- Class P combination notes (XS0314075598): affirmed at
'BBsf'; Outlook Negative
The affirmation of Cavendish Square's notes reflects the level of
credit enhancement relative to the portfolio's credit quality.
Since the last review in January 2011, the 'CCCsf' and below
bucket has fallen slightly to 9.3% of the portfolio from 10.9%,
while cumulative defaults have increased to EUR25.7 million from
EUR8.9 million. The Class C over-collateralization (OC) test is
currently failing by 65bps. All other relevant OC tests and
interest coverage (IC) tests are passing. The reinvestment OC
test is being breached but this test is no longer applicable
because the transaction has exited its reinvestment period. The
two largest industry sectors are RMBS at 68% of the portfolio and
CMBS at 16%. Of the RMBS sector, UK non-conforming RMBS makes up
12% of the portfolio.
Since the credit crisis, the collateral manager has managed to
build par and the performing portfolio currently stands at EUR291
million compared to a total liabilities balance of EUR269
million. This has helped mitigate some of the defaults and
portfolio deterioration sustained since close. The transaction
exited its reinvestment period in February this year. However,
the collateral manager has the discretion to continue to reinvest
certain principal proceeds including unscheduled principal
proceeds, and sales proceeds from credit improved and credit
impaired assets subject to compliance with certain conditions.
The RCF started to pay down in the last three payment periods
since the end of the reinvestment period in February via
scheduled principal repayments of the underlying assets and
diverted excess spread. The failure of the Class C OC test since
August 2011 has resulted in EUR0.9 million of excess spread being
diverted to delever the notes. The 'AAAsf' rating of the RCF
reflects its high level of credit enhancement and Fitch's
expectation that it will pay off within the next two to four
payment periods if the underlying structured finance assets
continue to amortize at their expected maturity dates.
The affirmation of the Class A1 notes and revision of the Outlook
to Stable from Negative reflects the increase in its level of
credit enhancement due to the transaction's deleveraging since
the last review. As the most senior note after the RCF, it will
also benefit from some support from excess spread diversion if
the portfolio deteriorates.
Fitch believes that a material risk for the transaction is that
the portfolio assets' maturity may extend beyond their reported
weighted-average expected life. The affirmation of the classes
A2 to C notes and the Negative Outlooks reflects their levels of
credit enhancement relative to the portfolio's credit quality,
and the extension risk of the portfolio assets.
The affirmation of Cavendish Square 2's notes reflects the notes'
level of credit enhancement relative to the portfolio's credit
quality. Since the last review in January 2011, the 'CCCsf' and
below bucket has increased slightly to 11.1% of the portfolio
from 8.4%, and cumulative defaults have increased to EUR25.9
million from EUR9.2 million. All the OC and IC tests are
passing. The two largest industry sectors are RMBS at 73% of the
portfolio and CMBS at 14%. Of the RMBS sector, UK non-conforming
RMBS makes up 6% of the portfolio.
Since the credit crisis, the collateral manager has managed to
build par and the performing portfolio currently stands at EUR469
million compared to a total liabilities balance of EUR398
million. This has helped mitigate some of the defaults and
portfolio deterioration sustained since close. The transaction
is still within its reinvestment period, which ends in September
2013.
Fitch believes that a material risk for the transaction is that
the portfolio assets' maturity may extend beyond their reported
weighted-average expected life. The affirmations and Negative
Outlooks on classes A2 to C reflect the extension risk of the
portfolio assets.
The rating on the class P combination notes reflect the ratings
of its component classes i.e. EUR14.8 million class B notes and
EUR4.4 million subordinated notes, total distributions to date
(which count towards reducing the rated balances) and future
distributions expected on each of the component classes. The
rated balance of the class P notes currently stands at
EUR15 million.
MCSWEENEY PHARMACY: Examiner Gets Expressions of Interests
----------------------------------------------------------
Barry O'Halloran at The Irish Times reports that a number of
potential suitors are interested in investing in the troubled
McSweeney pharmacy group.
The chain has court protection from its creditors, including AIB
and United Drug, for up to three months after the High Court on
Thursday confirmed the appointment of an examiner, the Irish
Times discloses.
Examiner Declan McDonald of PricewaterhouseCoopers has received a
number of expressions of interest, the Irish Times relates.
According to the Irish Times, Mr. McDonald plans to ask them to
submit investment proposals that he can use as the basis of a
rescue plan to be put to creditors and the court within the next
70 to 100 days.
The group owes creditors about EUR17 million, EUR13 million of it
to AIB, which has security for its loans over a series of group
assets, including book debts and property, the Irish Times
states.
Mr. McDonald told the High Court that he believed the insolvent
group had a reasonable prospect of survival, the Irish Times
recounts. He has up to 100 days to come up with a rescue plan
for McSweeney, which must then get the support of at least one
class of creditors and the High Court, the Irish Times says.
In order to get the court's backing, the plan cannot unfairly
prejudice the interests of any creditor who claims they will fare
better in either a receivership or liquidation of the business,
the Irish Times notes.
McSweeney pharmacy group owns and operates eight pharmacies, six
in the west and south and two in Dublin, which support 95 jobs.
SMORGS LTD: Increased Pre-Tax Losses Prompt Going Concern Doubt
---------------------------------------------------------------
Gordon Deegan at Irish Examiner reports that pre-tax losses at
that Smorgs (Ireland) Ltd. increased almost threefold last year
to EUR2.58 million.
According to Irish Examiner, accounts just filed with the
Companies Office show that the company recorded the increased
losses in spite of increasing its gross profit from EUR7.6
million to EUR8.8 million to the end of March this year.
However, the accounting period is for a 15-month period compared
to a 12-month period the previous year, Irish Examiner states.
According to the directors' report, they expect the company to
continue trading at its current levels, Irish Examiner notes.
The company had shareholder funds totaling EUR17 million at the
end of March, Irish Examiner discloses.
Auditors for the company, Cooney Carey, draw attention to a note
in the accounts confirming the after-tax loss of EUR2.29 million,
Irish Examiner relates.
According to Irish Examiner, the note states that "continued
loss-making by the company and/or failure to secure continued
financial support assumed in the company's forecasts, represent
material uncertainties that may cast significant doubt on the
company's ability to continue as a going concern".
Smorgs (Ireland) Ltd. operates the Travelodge chain of budget
hotels in Ireland. Travelodge operates 11 budget hotels across
the island with two in Dublin, two in Limerick and hotels in
Belfast, Derry, Galway, Waterford and Cork.
=========
I T A L Y
=========
LEO CONSUMO: DBRS Puts 'BB' Rating on Class B Notes Under Review
----------------------------------------------------------------
DBRS Inc. has placed Under Review with Negative Implications the
Class A and Class B notes issued by LEO CONSUMO 1 S.R.L.
The rating actions reflect the November 9, 2011 DBRS downgrade of
the Republic of Italy's Long Term Foreign Currency and Long-Term
Local Currency ratings from AA (low) to A (high) with the
Negative Trend maintained (see press release "DBRS Downgrades
Republic of Italy to A (high) on Fiscal and Market Risks; Trend
Remains Negative").
DBRS will undertake a review to determine the impact of the
sovereign downgrade on the transaction and will promptly publish
updated rating actions that may either result in a confirmation
or a downgrade. DBRS employs a case-by-case approach that is
jurisdiction-specific and asset-class specific with the risks and
protections of each transaction identified and considered. The
lower the sovereign rating, the greater relevance and potential
impact it has on securitization ratings due to less favorable
macroeconomic conditions, stress factors related to the
transaction parties and increased likelihood for unknown events
to occur.
The principal methodologies applicable are Master European
Structured Finance Surveillance Methodology, Rating European
Consumer and Commercial Asset-Backed Securitisations and the DBRS
Legal Criteria for European Structured Finance Transactions,
which can be found on its website under Methodologies. For a
more detailed discussion of sovereign risk impact on Structured
Finance ratings, please refer to DBRS commentary "The Effect of
Sovereign Risk on Securitisations in the Euro Area", located at
http://dbrs.com/research/239786
For additional information on these ratings, please refer to the
linking document.
Lead Analyst: Mike Babick
Rating Committee Chair: Claire Mezzanotte
Initial Rating Date: December 30, 2010
DBRS's rating definitions and the terms of use of such ratings
are available at http://www.dbrs.com
LEO CONSUMO 1 S.R.L. EUR 19,100,000 Class B Notes UR-Neg. BB (sf)
-- Nov 16, 2011
UNICREDIT SPA: Posts EUR10.6-Bil. 3Q Loss; Bonds Trading as Junk
----------------------------------------------------------------
Ben Martin at Bloomberg News reports that bonds of UniCredit SpA
(UCG), the Italian bank that posted a surprise EUR10.6 billion
(US$14.3 billion) third-quarter loss, are trading as junk as the
lender prepares to refinance US$51 billion of debt coming due
next year.
Fixed-income investors are pricing the Milan-based lender's bonds
at levels that imply a rating of B1, four levels below investment
grade and eight steps lower than its A2 ranking, according to
Moody's Analytics, Bloomberg notes. The EUR13.4 billion of
UniCredit debt securities that are contained in Bank of America
Merrill Lynch's Euro Corporates Banking index have lost EUR2.8
billion since the start of June, Bloomberg discloses.
UniCredit, Italy's biggest bank, has the highest amount of bonds
maturing in 2012 by a major European lender, according to data
compiled by Bloomberg. Concern that Italy will struggle to cut
Europe's second-highest debt load and tame the sovereign crisis
drove the country's debt yields to euro-era records, infecting
UniCredit's EUR40 billion of Italian bonds, Bloomberg states.
"It's an Italian bank and given what's going on in Italy, there
would be a tendency to downgrade," Bloomberg quotes Otto Dichtl,
a London-based credit analyst for financial companies at Knight
Capital Europe Ltd., as saying.
According to Bloomberg, the record loss prompted Moody's to put
the bank's rating under review for a downgrade, saying that while
UniCredit has "considerable liquidity," it faces pressure from
"volatilities in the Italian and European operating environment."
Meanwhile, Wes Goodman at Bloomberg News reports that Moody's
Investors Service said losses at UniCredit raise questions about
the profitability of Italian bank units.
A goodwill writedown reported by the company "may indicate that
the bank's expected profitability of some of its acquired
entities may be impaired on a more permanent basis," Bloomberg
quotes Moody's as saying in its Weekly Credit Outlook on Sunday.
UniCredit SpA is an Italy-based holding company engaged in the
financial sector. The Company's division model is based on four
pillars: Customer Centricity, A Multi-Local Approach, Global
Product Lines, and Global Service Lines. It operates in 22
European countries through more than 9,600 branches.
* ITALY: Five Biggest Banks May Need Additional Capital
-------------------------------------------------------
Radi Khasawneh at Bloomberg News reports that Italy's five
biggest banks, including Intesa Sanpaolo SpA (ISP), may need to
raise a combined EUR6.1 billion (US$8.2 billion) of additional
capital as the Italian government bonds they own deteriorate in
value.
Two-year Italian debt, which the banks valued at 97 cents on the
euro or better on Sept. 30, trades at about 92.7 cents, Bloomberg
notes. According to the Nov. 18 Bloomberg Risk newsletter, it
suggests Intesa, UniCredit SpA (UCG), Unione di Banche Italiane
SCPA (UBI), Banco Popolare, and Monte Dei Paschi di Siena SpA
need more capital.
The European Banking Authority instructed Unicredit, UBI, Banco
Popolare and Monte Dei Paschi to raise new capital by June 2012,
to meet its revised 9% core tier one ratio, Bloomberg relates.
The EBA cited a slump in the government securities they held at
the end of the third quarter, Bloomberg discloses.
Italian banks, which have the largest proportion of government
bonds to market capitalization in Southern Europe according to
estimates by Royal Bank of Scotland Group Plc, face increasing
pressure from investors and European regulators to revalue their
debt holdings, Bloomberg states.
"If the link between the value of government bonds and capital
requirements continues, as shown in the latest EBA analysis,
further volatility in sovereign spreads could result in larger
capital needs," Bloomberg quotes Alberto Gallo, senior credit
strategist at RBS in London, as saying.
=================
L I T H U A N I A
=================
BANKAS SNORAS: Administrator to Release Report on Nov. 23
---------------------------------------------------------
Milda Seputyte at Bloomberg News reports that the central bank
said AB Bankas Snoras's state-appointed administrator will
release its final report on the alternatives for the bank's
restructuring on Nov. 23.
According to Bloomberg, the Lietuvos Bankas, based in the
capital, Vilnius, said that it will give its resolution on the
Snoras's future operations on Nov. 24.
The government took over Snoras on Nov. 16 after the central bank
discovered that about EUR300 million (US$405 million) of assets
may be missing and the lender was at risk of insolvency,
Bloomberg recounts. The country's Prosecutor General opened an
investigation into possible fraud and embezzlement, Bloomberg
discloses.
Lawmakers approved legislation on Nov. 17 allowing the government
to split Snoras into two banks, with good and bad assets,
Bloomberg relates.
Bloomberg notes that the Finance Ministry on Nov. 18 said the bad
bank is planned to file for protection from creditors, while the
government will seek an investor for the good bank with healthy
assets and insured deposits "as soon as possible".
The ministry, as cited by Bloomberg, said that no public money
will be required to save Snoras because the bank has sufficient
assets to cover insured deposits. According to Bloomberg, it
said that uninsured liabilities such as bonds will receive "a
substantial haircut".
Bankas Snoras AB is Lithuania's fifth biggest lender. Snoras
held LTL6.05 billion in deposits and had assets of LTL8.14
billion at the end of September. It competes with Scandinavian
lenders including SEB AB, Swedbank AB (SWEDA), and Nordea AB. It
also controls investment bank Finasta and Latvian lender Latvijas
Krajbanka AS.
SNORAS BANK: Fitch Downgrades Viability Rating to 'f'
-----------------------------------------------------
Fitch Ratings has placed Snoras Bank's Long-term Issuer Default
Rating (IDR) of 'B+' on Rating Watch Negative (RWN). At the same
time, the bank's Viability Rating has been downgraded to 'f' from
'b-'.
The rating actions follow yesterday's full nationalization of
Snoras by the Lithuanian government and the introduction by the
Bank of Lithuania (BoL) of temporary administration at Snoras.
BoL cited the non-implementation of instructions given to Snoras,
failure to provide requested information and poor asset quality
as reasons for the measures.
Snoras's previous management has been dismissed and all the
bank's operations have been temporarily suspended until
November 21, 2011. On that date, the administrator is expected
to give information on any continued restrictions on the bank's
operations. The administrator's full review of the bank's
position, an estimate of potential asset losses and the
preparation of a proposed restructuring plan are likely to take
several weeks.
Snoras's Long-term IDR reflects the moderate probability of
support for the bank from the Lithuanian authorities. The RWN on
the ratings reflects the material risk that the bank's creditors,
apart from insured depositors, will suffer losses, or
considerable repayment delays, as a result of the bank's
restructuring. Fitch expects to resolve the RWN following the
administrator's planned announcement on November 21, which is
expected to clarify the extent to which restrictions on the
bank's operations will remain in place. If material restrictions
in respect to the bank's servicing of its liabilities and
creditors' access to funds are maintained for an extended period,
then the Long-term IDR will likely be downgraded to 'RD'
(Restricted Default).
The downgrade of the Viability Rating to 'f' reflects the
introduction of temporary administration and the bank's
reportedly much weaker stand-alone financial position,
particularly in relation to asset quality. Pending the
completion of the administrator's review of the bank, Fitch is
not in a position to fully assess the extent of the bank's
solvency problems. However the introduction of the
administration regime and the accompanying statement by the BoL
suggest that the scale of asset impairment may be considerable.
Snoras is a systemically important bank in Lithuania, holding
about 17% of retail deposits at end-2010. Before the
nationalization, Russian businessman Vladimir Antonov controlled
61% of the bank's shares and Lithuanian businessman Raimondas
Baranauskas 23%.
The rating actions are as follows:
-- Long-term foreign currency IDR: 'B+', placed on RWN
-- Short-term foreign currency IDR: 'B', placed on RWN
-- Viability Rating downgraded to 'f' from 'b-'
-- Individual Rating downgraded to 'F' from 'D/E'
-- Support Rating: '4', placed on RWN
-- Support Rating Floor: 'B+', placed on RWN
=====================
N E T H E R L A N D S
=====================
EMF-NL: S&P Lowers Rating on Class D Notes to 'B-'
--------------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings on
EMF-NL Prime 2008-A B.V.'s class A2, B, C, and D notes. "At the
same time, we affirmed our ratings on the class A1 and A3 notes,"
S&P said.
"The rating actions follow our credit and cash flow analysis of
the most recent transaction information that we have received,"
S&P said.
"We do not consider the swap documentation for EMF-NL Prime 2008-
A to be in line with our 2010 counterparty criteria (see
'Counterparty And Supporting Obligations Methodology And
Assumptions,' published on Dec. 6, 2010). Rather, the swap
agreement reflects a replacement language in line with our
previous counterparty criteria. Therefore, under our criteria,
the highest potential rating on the notes is equal to the issuer
credit rating on the swap provider, Credit Suisse International
(A+/Stable/A-1) plus one notch," S&P said.
"Our credit analysis incorporates our standard Dutch criteria
(see 'Dutch RMBS Market Overview And Criteria', published on Dec.
16, 2005)," S&P said.
"In addition, we also incorporate credit stability as an
important factor in our rating opinions. We consider whether we
believe that an issuer or security has a high likelihood of
experiencing unusually large adverse changes in credit quality
under conditions of moderate stress (see 'Methodology: Credit
Stability Criteria,' published on May 3, 2010)," S&P said.
"For this additional run, for Dutch residential mortgage-backed
securities (RMBS) transactions, we adjust our weighted-average
loss severities (WALS) by applying a 5% decrease in house prices
and giving full credit to the House Price Index (HPI)," S&P said.
"Our weighted-average foreclosure frequency (WAFF) for the pool
has decreased for each rating level, since closing, due to an
increase in seasoning. Our WALS has increased due to an increase
in the calculated weighted-average loan-to-foreclosure value
(WALTFV) to 107.05%, which stems from a reduction in house
prices. The net effect is an increase in the required credit
coverage at each rating level," S&P said.
Available credit enhancement has decreased for the class D notes
as a result of continued draws on the reserve fund over the past
three quarters. Despite this reduction in the available reserve
fund, credit enhancement has increased for the class A1, A2, A3,
B, and C notes, due to deleveraging of the transaction.
"The current levels of credit enhancement are not sufficient to
provide the credit coverage required to maintain our current
ratings on the class A2, B, C, and D notes. We have therefore
lowered ratings on these classes as they are unable to maintain
their current ratings under our cash flow scenarios. This is due
to the increase in required credit coverage, combined with
limited liquidity in the transaction resulting from no
replacement liquidity facility being found following the
insolvency of Lehman Brothers (see 'S&P Lowers Ratings In Three
Lehman-Affected Dutch RMBS EMF Transactions,' published on
March 3, 2009)," S&P said.
"The available credit enhancement for the class A1 and A3 notes
is sufficient to provide the required credit coverage at their
current rating levels. We have therefore affirmed our ratings on
these classes of notes," S&P said.
EMF-NL Prime 2008-A is backed by Dutch residential mortgages made
to self-certified borrowers and originated by ELQ Portefeuille
N.V.
Ratings List
Class Rating
To From
EMF-NL Prime 2008-A B.V.
EUR200 Million Mortgage-Backed Floating-Rate Notes
Ratings Lowered
A2 A- (sf) A+ (sf)
B BB (sf) BBB (sf)
C B+ (sf) BB (sf)
D B- (sf) B (sf)
Ratings Affirmed
A1 AA- (sf)
A3 A-(sf)
===========
R U S S I A
===========
RUSSIAN STANDARD: Fitch Assigns 'B+' Rating Sr. Unsecured Bonds
---------------------------------------------------------------
Fitch Ratings has assigned Russian Standard Bank's (RSB,
'B+'/Positive) issue of senior unsecured bonds series 1 with a
nominal value of RUB5 billion a final Long-term rating of 'B+'.
The notes have a Recovery Rating of 'RR4'.
The bonds mature in three years and have a put option after one
year. The coupon rate for the first one-year term has been set
at 11%.
RSB's obligations under the notes will rank equally with the
claims on existing senior unsecured debt. The proceeds will be
used to fund RSB's core business.
At end-9M10, RSB was the 19th largest bank in Russia by equity
and 31st largest by assets; according to management's estimates,
it held 19% market share in credit cards and 9% in POS loans.
Roustam Tariko indirectly owns 99.9% of RSB's shares.
SOGAZ: Fitch Affirms Insurer Financial Strength at 'BB+'
--------------------------------------------------------
Fitch Ratings has affirmed Insurance Company of Gas Industry
SOGAZ (Russia)'s Insurer Financial Strength (IFS) rating at 'BB+'
and National IFS rating at 'AA(rus)'. The Outlooks are Stable.
The affirmation reflects SOGAZ's risk-adjusted capital position's
resilience to reduced profitability in 2010 despite the continued
dynamic growth of business volumes and the insurer's reliance on
internal capital generation. The ratings continue to take into
account SOGAZ's solid market position and its long track record
of sustainable earnings generation.
Fitch also continues to recognize SOGAZ's 51% majority (indirect)
shareholder, Bank Rossiya's weak credit quality, SOGAZ's
significant exposure to affiliated investments and it's
continued, although decreasing, reliance on business derived from
Gazprom.
SOGAZ reported a record high loss ratio of 76.7% in 2010 (average
65.1% in 2005-2009). It was influenced by a wide range of
factors, including increased attritional loss levels, adverse
prior year reserve development and natural catastrophic losses in
H210. Fitch notes that the insurer improved its interim loss
ratio to 59.1% in H111 (H110: 68.4%), but this improvement was,
to some extent, supported by reserve releases related to
catastrophic losses.
Although Fitch recognizes the short-term or one-time only nature
of some of SOGAZ's recent high claims experience, the agency is
concerned that some of the recent developments may potentially be
of a longer term nature and may in the medium term, therefore,
continue to put pressure on SOGAZ's underwriting performance,
which has traditionally been the key source for capital
strengthening. In particular, these trends include heightened
attritional claims activity with a concentration in SOGAZ's most
profitable line -- commercial property -- the recently reduced
accuracy of reserving, partially explained by the changed levels
of attritional losses, and some liberalization of cost
management, manifested in 2011. Partially offsetting these
concerns is the overall adequacy of SOGAZ's reserves, certified
by a reputable international auditing firm.
Fitch continues to recognize SOGAZ's underwriting expertise in
the core commercial insurance segment as a positive rating factor
and believes that SOGAZ retains its ability to earn profit
through the underwriting activity at least while the insurer
holds its current market position. The agency also understands
that the insurer plans to adjust tariffs in response to the
causes of its weaker profitability in 2010. At present, the
timing and effectiveness of this response are, however, difficult
to assess until the full impact of premium rate adjustments are
reflected in published underwriting results.
Fitch expects that the introduction of a new compulsory line --
insurance of liability of operators of hazardous facilities --
from 2012 will have positive impact on the insurer's underwriting
performance. This expectation is supported by a relatively
strong level of tariffs set by the government, considerable
segment size and the high probability of SOGAZ becoming one of
the leading players in this segment.
The insurer's risk-adjusted capital position demonstrated
resilience to the reduced underwriting profit in 2010 despite the
increased pressure of business volumes, when net premiums grew by
22%. Based on the agency's internal assessment, Fitch continues
to consider SOGAZ's capital strength to be more than commensurate
for its rating level. Fitch notes that the restoration of the
underwriting profitability would be crucial for SOGAZ to maintain
its capital adequacy in the context of the anticipated further
dynamic growth.
While SOGAZ's investment portfolio contains a large proportion of
marketable fixed-income instruments (end-H111: 80%; end-2010:
78%), which Fitch views positively, it also contains a number of
weaknesses, which could put pressure on the insurer's capital.
Of these weaknesses Fitch identifies a direct exposure to Bank
Rossiya, which represents a material portion of the insurer's
equity, as the most significant, although this exposure has
declined moderately. In addition, SOGAZ has made several equity
investments in conjunction with the bank. At the same time Fitch
notes that SOGAZ has a relatively strong liquidity position.
The affiliated investment leverage, calculated as total
affiliated investments to adjusted equity, remained at a high
level at end-2010, although this was a reduction from end-2009's
level. In its calculation Fitch includes both leverage
associated with Bank Rossiya group and Gazprom group, including
GazpromBank.
Fitch considers that a notable reduction in SOGAZ's concentrated
exposure to counterparties and in its affiliated investment
leverage could lead to an upgrade. Conversely, an increase in
affiliated investments might lead to a downgrade.
Fitch would view positively further growth in the core commercial
non-life insurance segment through the diversification of the
franchise base, provided SOGAZ manages to return to strong
underwriting results and generate sufficient capital to support
this growth.
With gross assets of RUB82 billion at year-end 2010 and gross
premiums written of RUB51 billion, SOGAZ is one of the three
largest Russian insurers.
* KOMI REPUBLIC: Fitch Lifts Long-Term Currency Ratings to 'BB+'
----------------------------------------------------------------
Fitch Ratings has upgraded the Russian Republic of Komi's Long-
term foreign and local currency ratings to 'BB+' from 'BB' and
National Long-term to 'AA(rus)' from 'AA-(rus)'. The Outlooks
are Stable. The region's Short-term foreign currency rating has
been affirmed at 'B'. The rating action also affects the
region's outstanding domestic bonds of RUB4.1 billion.
The upgrade reflects the expected improvement of the operating
balance underpinned by the region's strong economic profile and
low direct risk. However, the ratings also factor in high tax
concentration to a few companies and dependence on the primary
sector.
Continuous maintenance of strong budgetary performance with an
operating margin above 15%, coupled with strong debt coverage
ratios would be positive for the ratings. Downward rating
pressure would arise from a sharp deterioration of budgetary
performance accompanied by increasing indebtedness.
Fitch expects Komi's gross regional product (GRP) to expand at
the rate of about 2% in 2011-2013. However, the local economy is
strong and heavily weighted towards the development of
extractable resources, particularly, oil, gas and coal. Komi's
GRP per capita in 2009 exceeded the national average by 40%. The
region demonstrated resilience during the crisis in 2009. Its
GRP declined by 1.5% in 2009 compared with a national decline of
7.6%.
The region depends heavily on tax revenue, which represented 77%
of its operating revenue in 2010. There is significant tax
concentration, with the 10 largest companies accounting for about
45% of total tax revenue in 2009-2010. Successful implementation
of planned projects in the processing industry will help reduce
fiscal concentration, but this will be challenging to achieve in
the medium term.
Fitch expects the republic's operating balance to be above 15% of
operating revenue in 2011-2013. Komi achieved strong budgetary
performance in 2010. Operating margin reached 14.6% (2009: 8.3%).
The republic had surplus before debt variation of 3.4% and the
overall surplus of 2.7% in 2010. The region has significantly
improved its self-financing capacity of capital expenditure. The
current balance covered more than 94% of the capex in 2010 (49%
in 2009).
Fitch expects Komi's direct risk to increase to RUB7.6 billion by
the beginning of 2012 and account for 17% of projected current
revenue. However, the region's significant liquidity leads to a
low level of net overall risk at about 3% of current revenue.
Fitch forecasts the debt coverage ratio will remain below two
years in 2011-2013 and refinancing risk to remain modest beyond
2011. Komi's contingent liabilities, stemming from a few issued
guarantees and the minor indebtedness of its public sector, are
low at about 1% of current revenue.
Komi is located in north-east European Russia. It accounts for
0.7% of the national population and 0.9% of the national GDP in
2009. The region's socio-economic profile is strong, with wealth
indicators above the national average.
* YAROSLAVL REGION: Fitch Raises LT Currency Rating to 'BB'
-----------------------------------------------------------
Fitch Ratings has upgraded the Russian Yaroslavl Region's Long-
term foreign and local currency ratings to 'BB' from 'BB-' and
National Long-term rating to 'AA-(rus)' from 'A+(rus)'. The
Outlooks are Stable. The region's Short-term foreign currency
rating has been affirmed at 'B'. The rating action also affects
the region's outstanding domestic bonds of RUB4.8 billion.
The upgrade reflects the region's sound budgetary performance,
underpinned by the economic recovery, supporting the tax revenue
increase and its moderate debt by international standards. The
ratings also factor in the region's inflexible operating
expenditure and the short-term profile of its debt.
Fitch says any further upgrade is subject to the region's
consolidation of sound budgetary performance, with operating
margins above 15% and the reduction of short-term refinancing
risk via a prolonged repayment schedule in the medium term.
Conversely, if the region loses control of operating expenditure
leading to a deteriorated budgetary performance and a weakening
of debt coverage ratios, along with increased refinancing risk,
this would likely lead to downward rating pressure.
Fitch expects the region's operating balance to be about 13%-14%
of operating revenue at end-2011 and 15%-16% in 2012-2013.
Yaroslavl's economy rebounded after a temporary downturn in 2009
and in 2010 its gross regional product (GRP) expanded by 2.4% yoy
driven by restored business activity and improved industrial
output. Economic recovery led to the growth of tax proceeds
which supported its sound operating margin of 12.1% in 2010.
Fitch expects the region's deficit before debt variation to
narrow to about RUB1.5 billion in 2011 from RUB2.4 billion
recorded in 2010.
The region's inflexible current transfers and social costs will
likely account for about 80% of opex by end-2011. Yaroslavl's
operating expenditure flexibility remains constrained, although
it improved in 2010 as the proportion of rigid expenditure items
decreased to 81.2% of total opex in 2010 from 88.3% in 2009. The
administration's ability to counter expenditure growth will be
viewed by the agency as a critical support factor for the
region's ratings.
Fitch expects Yaroslavl's direct risk (direct debt + other Fitch
classified debt) to stabilize at about 35% of current revenue in
the medium term. The region's indebtedness decreased to RUB10.4
billion by October 1, 2011 from RUB12 billion by end-2010 (2009:
RUB10.1 billion). However the region's bank loans' short-term
maturity imposes certain refinancing risks. Yaroslavl's
repayments will total RUB5.9 billion in 2012. This refinancing
risk is in part offset by cash reserves amounting to RUB3 billion
by end-Q311 (2010: RUB2.2 billion) as well as by an operating
balance projected to match the short term debt. The region's
indirect risk is immaterial and limited to its public companies'
self-serviced debt.
Yaroslavl is in the centre of the European part of the Russian
Federation, bordering the Moscow Region to the north-east. The
region's capital, the City of Yaroslavl, has 591,374 inhabitants
and is located 282km from Moscow. The region accounted for 0.7%
of the country's GDP and 0.9% of its population. Yaroslavl's
administration forecasts GRP to grow by 5% yoy in 2011 and by
about 4%-5% on average in 2012-2013.
===========
S W E D E N
===========
UNITED COMMUNICATIONS: Posts US$47,000 Net Loss in 3rd Quarter
--------------------------------------------------------------
United Communications Partners Inc., formerly known as Bark Group
Inc., filed its quarterly report on Form 10-Q, reporting a net
loss of US$47,000 on US$2.6 million of revenues for the three
months ended Sept. 30, 2011, compared with net income of US$1.5
million on of US$2.4 million of revenues for the same period last
year.
The profit in the three months ended Sept. 30, 2010, derived from
gain from deconsolidation of Danish subsidiaries which was closed
in September 2010.
The Company reported a net loss of US$893,000 on US$10.5 million
of revenues for the nine months ended Sept. 30, 2011, compared
with a net loss of US$1.0 million on US$3.2 million of revenues
for the same period of 2010.
The Company's balance sheet at Sept. 30, 2011, showed
US$11.1 million in total assets, US$9.3 million in total
liabilities, and stockholders' equity of US$1.8 million.
Marcum LLP, in New York, expressed substantial doubt about United
Communications Partners' ability to continue as a going concern,
following the Company's 2010 results. The independent auditors
noted that at Dec. 31, 2010, the Company has not achieved a
sufficient level of revenues to support its business and has
suffered recurring losses from operations.
A copy of the Form 10-Q is available for free at:
http://is.gd/pvFdbQ
Based in Stockholm, Sweden, United Communications Partners Inc.
-- http://www.ucpworld.com/-- is a commercial communication
services company based in Sweden that provides integrated media,
advertising and marketing consulting services to its clients.
The Company's clients are comprised primarily of European
businesses that range in size from small local businesses to
larger trans-national and multi-national corporations.
===========
T U R K E Y
===========
* CITY OF ISTANBUL: S&P Affirms 'BB-' Issuer Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' long-term
issuer credit rating on the City of Istanbul, located in the
Republic of Turkey (foreign currency BB/Positive/B; local
currency BBB-/Positive/A-3; Turkey national scale trAA+/--/trA-
1). The outlook is stable.
"The rating reflects our view that Istanbul's operating-revenue
flexibility is limited and that it lacks predictability about
future intergovernmental reforms in Turkey's developing and
unbalanced system of intergovernmental relations. It also
reflects the city's sizable capital needs and management's
adherence to aggressive spending policies, resulting in mounting
debt and debt service, and consequent liquidity pressures," S&P
said.
"However, Istanbul's role as Turkey's financial and commercial
center, with strong growth prospects, supports the rating. The
city also has a very strong operating performance, a relatively
gradual debt repayment schedule, and a large asset base. The
stable outlook reflects our expectations that Istanbul will
continue to post very strong operating performance in the future,
supported by economic growth. It also reflects our view that it
will continue its ambitious capital-spending program, and that
this will lead to deficits after capital accounts financed
largely with long-term, amortizing debts. So, despite the
increase in debt, increased revenues and the smooth amortizing
schedule should prevent further increases in the city's currently
high debt service," S&P said.
"If the city manages to decrease its annual borrowing
requirements, thereby triggering a decrease in its currently high
debt service, as well as structurally improving its liquidity
position, we could raise the rating. This would most likely be
achieved via privatization of IGDAS in 2012-2013," S&P related.
Weaker-than-expected operating revenues resulting in lower
operating margins and, consequently, higher-than-expected debt
accumulation could put pressure on the ratings, especially if
they combine with increasing exposure to short-term debt,
resulting in debt service above 25-30%.
=============
U K R A I N E
=============
ALFA-BANK PJSC: Fitch Assigns 'B-' Long-Term Foreign Currency IDR
-----------------------------------------------------------------
Fitch Ratings has assigned Ukraine-based PJSC Alfa-Bank (ABU) a
Long-term local currency Issuer Default Rating (IDR) of 'B-' and
National rating 'BBB-(ukr)'. Both ratings have Stable Outlooks.
ABU's other ratings, including its Long-term foreign currency IDR
of 'B-', are unaffected by this action.
The assigned ratings are driven by Fitch's assessment of
potential support from ABU's shareholders. At the same time, the
agency believes that there is significant uncertainty about the
provision of support due to a number of factors, including the
only indirect relationships between ABU and other assets of the
shareholders, and the precedent of ABU's eurobond exchange for
longer-dated debt in 2009.
After the payment of a US$119 million eurobond installment at
end-October, the bank retained a reasonable liquidity cushion on
its balance sheet, with a liquid assets/deposits ratio at 21%.
However, liquidity remains a key risk area given the currently
turbulent environment in Ukraine. Fitch notes that ABU's
capacity to repay the outstanding US$315 million eurobonds
amortizing to October 2012 is contingent on favorable market
conditions.
The liquidity of ABU's loan book is undermined by significant
asset quality problems, although they are in line with the
average credit metrics in the sector. At end-2010, ABU's NPLs
comprised 24% of the loan book and an additional 15% were
restructured/rolled-over loans. According to management
estimates, in H111 there was a moderate improvement in these
ratios, while write-offs have been limited to 1.1%. However, in
Fitch's view, the bank retains some capital flexibility. At end-
H111, the bank was able to entirely write-off its NPLs portfolio
without breaching the Basel I total capital ratio of 8%.
Internal capital generation remains poor.
Fitch notes that downside rating pressure could arise in case of
marked liquidity tightening or further credit impairment not
mitigated by adequate capital support. At the same time,
successful repayment of the eurobond, combined with a
stabilization of asset quality and further capital injections,
could result in a rating upgrade.
The rating actions are as follows:
-- Long-term local-currency IDR: assigned 'B-'; Stable Outlook
-- National rating: assigned 'BBB-(ukr)'; Stable Outlook
-- Long-term foreign-currency IDR 'B-' with Stable Outlook
unaffected
-- Short-term foreign-currency IDR 'B' unaffected
-- Viability Rating 'ccc' unaffected
-- Support Rating '5' unaffected
UNITED CONFECTIONERS: Fitch Affirms Issuer Default Rating at 'B'
----------------------------------------------------------------
Fitch Ratings has affirmed Russia-based OJSC Holding Company
United Confectioners' (UC) Long-term foreign currency Issuer
Default Rating (IDR) at 'B' with a Stable Outlook and National
Long-term Rating at BBB+(rus) with a Stable Outlook.
Fitch has also affirmed UC's subsidiary, OOO United
Confectioners-Finance's (UC Finance) RUB3 billion bond due May
2012 at 'B' and RUB3 billion bond due April 2013 at 'B-'. While
both bond issues potentially fully recover in a distressed
scenario, due to the Recovery Rating (RR) cap, the RR for the
2012 bond is 'RR4', reflecting expected recovery prospects in a
distressed scenario of 31%-50%, and the RR for the 2013 bond is
'RR5', which reflects expected recoveries of 11%-30%. The RRs
reflect the different guarantee structures between the two bonds.
UC continued to demonstrate strong sales volume growth in 2010
and so far in 2011. The group gave up price increases in 2010,
which has helped UC improve its market position at the cost of
operating margin deterioration. As input costs increased, EBIT
margin dropped to single-digits: 9.1% in 2010 and 8.4% in H111,
which is below average profitability for packaged food companies.
However, Fitch expects UC's profitability to improve in Q411 and
FY2012, due to more favorable recent cocoa and sugar price
movements and, generally more muted raw material price inflation
forecasts for 2012. Enhanced profitability will likely be
supported by the full effect of moderate price increases (already
implemented throughout 2011) and improvements in product mix.
Continuing debt repayment has offset the decrease in profit
margin, helping UC to keep leverage ratios relatively flat in
2010. However, Fitch notes that loan repayments were fully
replaced by a respective increase in trade payables and hence a
decline in working capital as percentage of sales to 11.8% (FY09:
14%). Favorable WC movements and cheaper borrowing costs allowed
UC to deliver good FCF for second consecutive year in 2010.
Fitch still has concerns over the sustainability of UC's positive
FCF generation ability, due to slow payables turnover, which the
agency does not consider sustainable, and increasingly extensive
capex required for relocation of existing capacities (Rot Front),
as well as the modernization and installation of new production
lines. Fitch expects this capex program to be funded by both
external and internal sources.
Fitch expects UC to increase its debt by end of FY2011 mainly to
fund new production lines. Taking into account the decrease in
profitability, credit metrics are somewhat weaker compared with
2010. Nevertheless, management has confirmed its commitment to
achieve and maintain net debt/EBITDA ratio of 1.0x by 2013.
Therefore, the current rating assumes that UC will keep a
conservative financial policy, not involving sizeable M&A
activities or allowing leakage of funds from the business that
may increase leverage.
Corporate governance issues remain a key credit concern for
Fitch, in particular increasing loans to related parties that
exceed inter-group borrowings. In addition, UC maintains a
significant portion of its cash, albeit decreasing, in Guta-Bank
(unrated). Fitch also notes that the shareholders control the
Board (which does not have any independent directors) thereby
translating into a potential misalignment of interests between
shareholders and debt holders. Corporate governance issues act
as a cap preventing a higher rating. Greater transparency and
disclosure of the rest of the group activities and intra-group
transactions would help alleviate governance concerns.
The Stable Outlook is supported by improving liquidity and
generally smooth maturity schedule of existing debt portfolio. As
of November 2011, maturities up to 2012 are covered by available
cash and committed facilities by 145%. Currency mismatch is not
currently a major concern as the share of foreign currency loans
decreased to 14% (as of November 2011) from 25% (as of September
2010).
Positive rating factors include sustainable liquidity and
leverage ratios (liquidity score over 1.5x, adjusted TD/EBITDAR
below 1.7x for two consecutive years), as well as stable positive
FCF over RUB1 billion. However, Fitch considers the proof of
achieving a standalone business model and operational
independence from Guta Group as key factors for a positive rating
movement.
A negative rating action could occur if FCF generation materially
deteriorates, or there is a substantial increase in leverage (to
adjusted TD/ EBITDAR over 3.0x or 2.5x if the share of foreign-
currency debt reaches 50%). Increase in loans to related parties
(net of borrowings from related parties) plus a net increase in
related party investments exceeding CFO minus maintenance capex
and dividends would also be considered a negative factor.
* NIZHNIY NOVGORODS: Fitch Rates RUB8-Bil. Domestic Bond at 'B+'
--------------------------------------------------------------
Fitch Ratings has assigned the Russian region of Nizhniy
Novgorod's RUB8bn domestic bond issue (RU000A0JRWA3), due 16
November 2016, a Long-term local currency 'B+' rating and a
National Long-term 'A(rus)' rating.
The region's Long-term foreign and local currency ratings are
both 'B+' with a Positive Outlook. The region has a Short-term
foreign currency rating of 'B', and a National Long-term rating
of 'A(rus)' with a Positive Outlook.
The bond issue has a fixed-rate step-down coupon and amortization
structure. The rate for the first coupon has been set at 9.95%.
The proceeds from the bond issue will be used to refinance
maturing debt and to fund capital expenditure.
===========================
U N I T E D K I N G D O M
===========================
AUBURN SECURITIES: Fitch Puts BB+ Rating on Class E Notes on RWN
----------------------------------------------------------------
Fitch Ratings has placed all tranches of four Auburn transactions
on Rating Watch Negative (RWN). This follows the receipt of
information, sent by Capital Home Loans (CHL), which detailed
certain operational deficiencies in Auburn 6 and 7. While it is
currently unclear to Fitch whether such operational issues may
also apply to Auburn 3 and 4, these notes have also been placed
on RWN. Fitch expects further information on the operational
performance of Auburn 3 and 4 to be provided in the near future.
Whilst the agency has been informed that remedial action has been
undertaken to correct these operational deficiencies, the notes
will remain on RWN until Fitch has completed an operational
review of the securitization framework at CHL. In particular, a
review of personnel, processes and controls is necessary to
ensure that operational issues will not have a detrimental effect
on the future cash flows of each transaction.
Auburn Securities 3 plc:
-- Class A2 (ISIN XS0157588210): 'AAAsf'; placed on RWN
-- Class M (ISIN XS0157588723): 'AAsf', placed on RWN
Auburn Securities 4 plc:
-- Class A2 (ISIN XS0202810064): 'AAAsf'; placed on RWN
-- Class M (ISIN XS0202810734): 'AAAsf'; placed on RWN
-- Class B (ISIN XS0202811039): 'AAAsf'; placed on RWN
-- Class C (ISIN XS0202811625): 'AAsf'; placed on RWN
-- Class D (ISIN XS0202812276): 'A-sf'; placed on RWN
-- Class E (ISIN XS0202812516): 'BB+sf'; placed on RWN
Auburn Securities 6 plc:
-- Class A (ISIN XS0329737448): 'AAAsf', placed on RWN
Auburn Securities 7 plc:
-- Class A (ISIN XS0379615742): 'AAAsf', placed on RWN
BLUESTONE SECURITIES: Fitch Affirms CC Ratings on 2 Note Classes
----------------------------------------------------------------
Fitch Ratings has affirmed Bluestone Securities plc 2005-1,
Bluestone Securities plc 2006-1 and Bluestone Securities plc
2007-1, a set of three UK non-conforming RMBS transactions. In
addition, the Outlook on Bluestone 2006-1's class C notes has
been revised to Positive from Negative.
The affirmations reflect the stable asset performance over the
past year. Much like other UK non-conforming RMBS transactions,
the sustained period of low interest rates has assisted all three
Bluestone transactions, which each have 100% of borrowers on
variable-rate mortgages. Loans in arrears by three months or
more have mildly decreased over the past year, with current
levels at 10.6%, 17.8% and 17.1% for Bluestone 2005-1, 2006-1 and
2007-1 respectively.
The amount of reported 'enforcements in progress' and sold
repossessions have remained low, resulting in low loss levels.
In addition, the interest-only (IO) strips in each transaction
have expired (each three years after closing), which has
subsequently added to excess spread levels. This has meant
Bluestone 2005-1's and Bluestone 2007-1's reserve funds remain at
target level, and it has enabled Bluestone 2006-1's reserve fund
to replenish to 75.4% of its target. This represents a
significant change, as Bluestone 2006-1's reserve fund was fully
depleted in June 2010. Indeed, the timing of the replenishment
is in line with the expiration of the IO strip (accrued on the
class A notes), which had a considerable effect on the
transaction, given the pool's mild rate of deleveraging.
As a result, the class C notes' credit enhancement has increased
to the current level of 8.3%, compared to 6.0% in June 2010, and
is the primary reason for the revision of the Outlook to
Positive. Fitch believes it is likely that the Bluestone 2006-
1's reserve fund will reach its target in the next two quarters.
At present, the method of note amortization varies across the
transactions. Bluestone 2005-1 is paying down pro-rata as
triggers are met, Bluestone 2006-1 is paying sequentially as the
reserve fund is not at target and Bluestone 2007 is paying
sequentially as the outstanding balance of the class A and class
Az notes is still greater than 50% of the initial class A and
class Az notes' balance.
The rating actions are as follows:
Bluestone Securities plc (Series 2005-1):
-- Class A (ISIN XS0222339631) affirmed at 'AAAsf'; Outlook
Stable
-- Class B (ISIN XS0222339391) affirmed at 'A+sf'; Outlook
Stable
-- Class C (ISIN XS0222338740) affirmed at 'BBBsf'; Outlook
Stable
-- Class D (ISIN XS0222338153) affirmed at 'BBsf'; Outlook
Stable
Bluestone Securities plc (Series 2006-1):
-- Class A1 (ISIN XS0264881508) affirmed at 'AAAsf'; Outlook
Stable
-- Class A2 (ISIN XS0264881920) affirmed at 'AAAsf'; Outlook
Stable
-- Class B (ISIN XS0264882654) affirmed at 'BBBsf'; Outlook
Stable
-- Class C (ISIN XS0264882902) affirmed at 'Bsf'; Outlook
Revised to Positive from Negative
-- Class D (ISIN XS0264883207) affirmed at 'CCCsf'; Recovery
Rating 'RR3'
-- Class E (ISIN XS0264883546) affirmed at 'CCsf'; Recovery
Rating 'RR4'
Bluestone Securities plc (Series 2007-1):
-- Class A2 (ISIN XS0300920237) affirmed at 'AAsf'; Outlook
Stable
-- Class Az (ISIN XS0300920583) affirmed at 'AA-sf'; Outlook
Stable
-- Class B (ISIN XS0300920823) affirmed at 'BBsf'; Outlook
Stable
-- Class C (ISIN XS0300921128) affirmed at 'CCCsf'; Recovery
Rating 'RR3'
-- Class Da (ISIN XS0300921474) affirmed at 'CCsf'; Recovery
Rating 'RR4'
-- Class Db (ISIN XS0301241039) affirmed at 'CCsf'; Recovery
Rating 'RR4'
ESTIA MORTGAGE: Fitch Lowers Rating on Class C Notes to 'CCCsf'
---------------------------------------------------------------
Fitch Ratings has downgraded one and affirmed two tranches of
Estia Mortgage Finance plc as follows:
-- Class A (ISIN XS0220978737): affirmed at 'BBB-sf'; Outlook
Revised to Negative from Stable;
-- Class B (ISIN XS0220978901): affirmed at 'BBsf'; Outlook
revised to Negative from Stable;
-- Class C (ISIN XS0220979115): downgraded to 'CCCsf' from
'Bsf'; Recovery Rating RR2;
The affirmation of the classes A and B reflects the sufficient
credit support available to the notes, whilst the downgrade of
the junior tranche reflects the concern that the transaction's
current performance is reliant upon ongoing retirement of the
loans by Piraeus Bank.
Arrears levels show signs of stabilization in the most recent
period, following a significant upward trend in previous periods.
At present the loans in arrears by more than three months stand
at 2.7% of outstanding portfolio balance.
According to the transaction documentation, following a non-
permitted variation to the terms and conditions of a loan, the
issuer is obliged to either repurchase the relevant mortgage loan
or replace it with a new eligible loan, with similar
characteristics (seasoning, loan-to-value ratio, etc). The
repurchase and substitution of loans is limited to 15% of the
initial balance.
In more recent payment periods, the amount of loans that have
been substituted out of the portfolio has increased
significantly, reaching 5.9% of the initial balance. Fitch also
notes that the period gross defaults have, in the meantime,
decreased substantially, suggesting that loans that would have
otherwise defaulted have been repurchased out of the portfolio.
The agency has received confirmation from the servicer that
deteriorating economic conditions have led to an increase in the
number of renegotiations of existing loan terms, as the bank
seeks to limit loan defaults. As a consequence, an increasing
amount of loans have been retired from the pool because they
would otherwise breach eligibility criteria. In Fitch's view
this has led to a positive selection, improving upon the natural
performance of the portfolio.
Whilst Fitch considers the repurchase of weaker quality loans to
be beneficial for noteholders, the agency recognizes that the
current mortgage market in Greece and the lack of liquidity in
the financial system could, in the future, lead to insufficient
eligible loans being available to replace retired loans. As a
result, the agency is concerned that the current level of loan
replacement may be unsustainable in the long term. The agency is
concerned that the credit enhancement available to the class C
notes would not be sufficient to withstand such deterioration in
transaction performance, which is reflected in the downgrade.
The retirement of loans from the portfolio has resulted in
relatively low levels of cumulative defaults (1.8% at October
interest payment date), well below the 4.0% level that would stop
the amortization of the reserve fund and trigger sequential note
amortization. As of the last interest payment date, the cash
reserve continues to amortize towards its floor level of 0.5% of
initial balance, thereby limiting the growth in the notes' credit
enhancement. If the level of loan retirements were to reduce,
Fitch expects the reserve fund would have to be utilized to
provision for defaulted loans. For this reason the agency has
revised the Outlook on both classes A and B to Negative from
Stable.
The originator has confirmed that to date the delay in receipt of
payments from Organismos Ergatikis Katoikias (OEK) has been
offset by available excess spread. Should OEK return to making
payments as scheduled and make the overdue payments, the
transaction would be provided with additional funds.
FORTMERE HOTEL: R S Power Buys Ramada Park Out of Administration
----------------------------------------------------------------
Graeme Brown at Birmingham Post reports that Fortmere Hotel
Group's Ramada Park Hall Hotel & Spa in Wolverhampton has been
sold to R S Power and partners for an undisclosed cash sum by
administrators David Bennett and Joe McLean of Grant Thornton UK.
The administrator can be reached at:
David Bennett
Joe McLean
GRANT THORNTON UK
Birmingham, Edmund Street
Enterprise House
115 Edmund Street
Birmingham B3 2HJ
Tel: 0121 212 4000
Fax: 0121 212 4014
E-mail: david.bennett@uk.gt.com
E-mail: joe.mclean@uk.gt.com
More than 100 positions that was under threat after the Ramada
Park Hall Hotel & Spa in Wolverhampton collapsed into
administration has been saved after the deal was sealed,
according to Birmingham Post.
As reported in the Troubled Company Reporter-Europe on June 7,
2011, BBC News reports that Fortmere Hotel Group went into
administration at the end of May. The hotels are run under a
franchise agreement with Ramada and administrator Grant Thornton
UK LLP is hoping to sell the hotel group as as a going concern,
according to BBC News. BBC News noted that all three hotels are
still trading and the administrator said there were no immediate
plans for redundancies.
Fortmere Hotel Group employs 145 staff and operates hotels in
Dudley, Wolverhampton, and Kenilworth.
HARRISON HOLIDAYS: Goes Into Administration, Cuts 20 Jobs
---------------------------------------------------------
Harrison Holidays has gone into administration. Jamie Playford
of Parker Andrews Limited was appointed administrator on Nov. 16,
2011, by the director.
The administrator can be reached at:
Jamie Playford
PARKER ANDREWS LIMITED
34-40 King Street
Norwich
NR1 1PD
Tel: 01603 217594
E-mail: JP@parkerandrews.co.uk
Fax: 08450 943906
Following a difficult trading period and cash flow problems, the
director has taken the decision that the companies should cease
trading with immediate effect. There is no cash available to
trade the business under Administration and so all staff have
been made redundant and Parker Andrews are assisting the
employees with their redundancy claims.
The director has timed the cessation of trade to coincide with
the return of a coach tour, so that there is minimal disruption
to holidaymakers. No coach tours are stranded abroad as a
result.
A total of 993 customers have holidays booked, with deposits of
GBP250,000 paid.
The Administrator is seeking offers for the business and assets,
which include the Company's freehold property at 3 High Street,
Kings Lynn, and the Company's customer database. The
Administrator is also seeking a new provider to take over the
operation of the holidays booked from December 2011.
Unfortunately, the Company's insurance does not cover day trips,
nor does it cover transfers to/from airports for holidays that
involve flights.
Meanwhile, Lynn News reports that Parker Andrews have now decided
to manage the operation of coach holidays and will be reviewing
tours over the next few days. They have stressed that not every
tour will go ahead, according to Lynn News
The report notes that the administrators decided to take this
move after discussions with the travel insurance companies, BCH,
and TGI, were unsuccessful in coming to an agreement over the
operation of coach holidays.
"The discussions between the administrators, BCH, the company's
bond provider, and TGI, the bond insurer, have been unsuccessful
in coming to an agreement whereby BCH would operate the coach
holidays. . . . However, following further discussions between
the administrators and TGI, and with assistance from the
company's director, the operation of the coach holidays is with
immediate effect being brought in-house to be managed by the
administrators . . . . The administrators would like to clarify
that this does not mean that every tour will go ahead, but each
tour will be reviewed on a case-by-case basis over the next few
days to determine which tours are viable."
Lynn News says that two tours have been confirmed and
holidaymakers will be contacted near the time to confirm pick up
arrangements. Five more are awaiting confirmation, the report
relays.
Harrison Holidays is a family coach holiday company in High
Street, Lynn.
LODERS MOTOR: Faces Possible Administration, Seeks Buyer
--------------------------------------------------------
James Batchelor at Car Dealer Magazine reports that Loders Motor
Group Managing Brian Keen said that they are looking for a buyer
after entering financial difficulties.
Loders group was facing administration, and is in talks with
another motor group who operate Volkswagen and Audi franchises
across Wiltshire, Somerset and Bristol about a possible buy-out,
according to Car Dealer Magazine.
Loders motor group, who has been established for more than 60
years in Dorset and Somerset and held Volkswagen and Skoda
franchises, sold their Yeovil Audi business to Ocean Automotive
earlier this month.
NORTHERN ROCK: Fitch Cuts Tier 2 Subordinated Debt Rating to CCC
----------------------------------------------------------------
Fitch Ratings has downgraded Northern Rock (Asset Management)
plc's (NRAM) lower Tier 2 subordinated debt to 'CCC' from 'BBB',
downgraded NRAM's Tier one notes (TONs) to 'CC' from 'B' and
affirmed the remainder of NRAM and Bradford & Bingley's (B&B)
subordinated debt securities.
The rating actions follow the announcement of a series of tender
offers for NRAM's and B&B's subordinated debt securities and
reflect Fitch's assessment that the tender offers are tantamount
to distressed debt exchanges.
Compared to previous tenders, Fitch notes the tougher language in
the risk factors section of the tender offer documents where it
is noted that there is 'active consideration' by UK Financial
Investments Limited, the manager of NRAM's government
shareholding, to recommend an increase in the rate of HM
Treasury's loan to NRAM. The rate on B&B's working capital
facility from HM Treasury has already been increased to an
extent. A significant increase in either rate would reduce the
assets available to subordinated creditors in a possible wind up
scenario and, in Fitch's opinion, increases the impetus for
noteholders to tender their securities at the tender prices
rather than risk a less certain and possibly more negative
outcome at some point in the future.
In addition, the agency notes that sufficient acceptance of the
tender offers could also trigger a automatic buy back of other
investors' securities even though they did not participate in the
tender and may even have voted against giving the issuer the
option to do so.
The difference in the new rating levels of NRAM's lower Tier 2
subordinated debt at 'CCC' and TONs at 'CC' reflect the better
tender prices offered for the lower Tier 2 securities. The
remaining securities are generally being tendered at lower prices
and have not been paying coupons, which the agency believes is in
line with 'C' ratings.
The rating actions are as follows:
NRAM:
-- Lower Tier 2 subordinated debt securities downgraded to
'CCC' from 'BBB'
-- Upper Tier 2 subordinated debt securities affirmed at 'C'
-- Tier 1 subordinated debt securities (RCIs XS0117031194)
affirmed at 'C'
-- Tier 1 subordinated debt securities (TONs XS0152710439)
downgraded to 'CC' from 'B'
B&B:
-- Lower Tier 2 subordinated debt securities affirmed at 'C'
-- Upper Tier 2 subordinated debt securities affirmed at 'C'
-- Tier 1 subordinated debt securities affirmed at 'C' (ISIN
XS0148804536)
RADISSON BLU: In Administration, Parent Declared Insolvent
----------------------------------------------------------
Mary Vancura at Business Sale reports that Radisson Blu hotel has
been put up for sale by administrators from RSM Tenon Group PLC
after its parent company, S1 Argyle Street Limited, succumbed to
financial pressures and was declared insolvent.
The administrator can be reached at:
Tom MacLennan
RSM TENON GROUP PLC
160 Dundee Street
Edinburgh EH11 1DQ
Tel: 0131 221 8823
E-mail: tom.maclennan@rsmtenon.com
The hotel will remain trading as normal while a deal with a
prospective buyer is sought, after its parent company, according
to Business Sale. The report relates that RSM's Tom MacLennan
said that a potential bidder has already been identified and they
are looking at working out a deal with the company.
"The preferred bidder is, at this stage, undisclosed but it is
proposed all staff positions will be secure and will transfer
across to the new business. . . . . We wish to reassure all
staff and customers our intention is to continue business as
usual and focus our efforts on completing a rapid sale of the
hotel," the report quoted Mr. MacLennan as saying.
Radisson Blu hotel is a high-profile hotel in Glasgow.
SLEBECH PARK: Goes Into Administration, Seeks Buyer
---------------------------------------------------
Western Telegraph reports that Slebech Park went into
administration on Nov. 7.
The administrators said that all 55 of the staff have been
retained and the business continues to run as normal and a buyer
was being sought to take Slebech Park on as a going concern,
according to Western Telegraph.
The administrators can be reached at:
Simon Girling
Graham Randall
BDO LLP
55 Baker Street
London, W1U 7EU
Tel: +44 (0)20 7486 5888
Fax: +44 (0)20 7487 3638
E-mail: simon.girling@bdo.co.uk
E-mail: graham.randall@bdo.co.uk
"The current situation has been brought about due to shortfall in
property valuations in the current economic climate, albeit while
the day to day business has continued to expand and go from
strength to strength.
"The Joint Administrators are now working to find a buyer
interested in taking on the business as a going concern and
preserving this quality venue in Pembrokeshire," the joint
administrators said in a statement obtained by the news agency.
Slebech Park is located on the banks of the Daucleddau estuary
within a special area of conservation and acres of woodland. The
hotel and restaurant, based around the estate's 18th century
coach house, were the brainchild of Geoffrey Philipps and his
wife Georgina.
SUPERGLASS: Secures GBP2-Mil. Scottish Government Grant
-------------------------------------------------------
Kristy Dorsey at The Scotsman reports that Superglass has secured
a GBP2 million Scottish Government grant that will be key to a
financial restructuring aimed at underpinning the company's
survival.
According to the Scotsman, the firm, which is in the process of
raising GBP9.5 million from investors, said on Nov. 16 that it
had received regional selective assistance (RSA) in "an amount
and on terms which are acceptable" to its lender, Clydesdale
Bank.
Clydesdale has agreed to convert GBP12.15 million of debt it is
owed into convertible shares in Superglass, but only if the
amount of RSA on offer was deemed sufficient to meet the
company's funding needs, the Scotsman notes. The minimum amount
required had previously been pegged at between GBP1.6 million and
GBP2 million, the Scotsman discloses.
The debt-for-equity swap and share issue are now expected to
proceed as planned, with Superglass due to receive cash from the
fundraising at the beginning of next month, the Scotsman says.
In the meantime, Clydesdale has amended a number of terms in its
banking agreement with the firm, including deferment on a capital
repayment due on November 30, and the waiving of a financial
covenants test that was due in August, the Scotsman relates.
Superglass -- which will emerge with dramatically-reduced
borrowings in the region of GBP5.1 million -- has struggled
through much of the downturn as sales of home insulation have
slumped, the Scotsman recounts.
Superglass is a Stirling-based insulation firm.
TINDALE & STANTON: Bought Out of Administration
-----------------------------------------------
Iain Laing at The Journal reports that by Scarborough firm Bakery
Products, which is owned by Arthur Harris, has acquired Tindale &
Stanton Ltd out of administration.
Tindale & Stanton went into administration after cash-flow
problems following the loss of a deal to supply Netto stores,
according to The Journal.
As reported in the Troubled Company Reporter-Europe on May 12,
2008, Ian Stokoe and Ian Green of PricewaterhouseCoopers LLP were
appointed joint administrators of Tindale & Stanton Ltd.
The administrators can be reached at:
Ian Stokoe
Ian Green
PRICEWATERHOUSECOOPERS LLP
89 Sandyford Road
Newcastle upon Tyne
NE1 8HW
Tel: +44 (0)191 232 8493
Fax: +44 (0)191 269 4400
E-mail: i.stokoe@uk.pwc.com
E-mail: ian.d.green@uk.pwc.com
The Journal notes that all of the Burnopfield firm's 122 staff
have been kept on by Bakery Products and Mr. Harris said he
expects to make a six-figure investment in the business to
rebuild its sales to at least the GBP7 million it reported last
year.
Tindale & Stanton Ltd is one of the North East's best-known
bakery firms.
===============
X X X X X X X X
===============
* S&P's 2011 Global Corporate Default Now Tally at 41
-----------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on U.S.-
based freight service company Trailer Bridge Inc. to 'D' after
the company failed to make principal and interest payments on its
$82.5 million senior secured notes that matured Nov. 15, 2011.
This raises the tally of global corporate defaults in 2011 to 41,
said an article published Nov. 17 by Standard & Poor's Global
Fixed Income Research, titled "Global Corporate Default Update
(Nov. 10 - 16, 2011)." Trailer Bridge is the third company to
default twice this year--the other two are Real Mex Restaurants
Inc. and William Lyon Homes.
Of the total defaulters this year, 30 are based in the U.S.,
three are based in New Zealand, two are in Canada, and one each
is in the Czech Republic, Greece, France, Israel, Italy, and
Russia. Of the defaulters by this time in 2010, 55 were U.S.-
based issuers, nine were from the other developed region
(Australia, Canada, Japan, and New Zealand), eight were from the
emerging markets, and two were European issuers.
Seventeen of this year's defaults were due to missed interest or
principal payments and eight were due to distressed exchanges--
both of which were among the top reasons for defaults in 2010.
Bankruptcy filings followed with seven defaults, and regulatory
actions accounted for three. Of the remaining defaults, one
issuer failed to finalize refinancing on its bank loan, one had
its banking license revoked by its country's central bank,
another was appointed a receiver, and three were confidential.
By comparison, in 2010, 28 defaults resulted from missed interest
or principal payments, 25 from Chapter 11 and foreign bankruptcy
filings, 23 from distressed exchanges, three from receiverships,
one from a regulatory directive, and one from administration.
"We expect the U.S. corporate trailing 12-month speculative-grade
default rate to rise to 3.1% by September 2012 from 1.94% as of
September 2011. The baseline projection is still lower than the
long-term average of 4.59%," said Diane Vazza, head of Standard &
Poor's Global Fixed Income Research. "A total of 48 issuers
would need to default in the 12 months from October 2011 to
September 2012 to reach this projection. By comparison, 28
speculative-grade issuers defaulted from October 2010 to
September 2011."
In addition to its baseline projection, S&P forecasts the default
rate in its optimistic and pessimistic scenarios. In its
optimistic default rate forecast scenario, the economy and the
financial markets improve more than expected. As a result, S&P
would expect the default rate to be 1.6% by September 2012 (25
defaults in the next 12 months). On the other hand, if the
economic recovery stalls and the financial markets deteriorate --
which is its pessimistic scenario -- S&P expects the default rate
to be 5.1% (79 defaults in the next 12 months).
* Starwood Property Prepares for Fire Sales in Europe
-----------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Starwood Property
Trust Inc. expects Europe's debt crisis to result in fires sales
of distressed commercial mortgage loans and buildings, and the
real estate investment trust is getting prepared.
* Large Companies with Insolvent Balance Sheets
-----------------------------------------------
Total
Shareholders Total
Equity Assets
Company Ticker (US$) (US$)
------- ------ ------ ------
AUSTRIA
-------
CHRIST WATER TEC CWTE IX -5754285.054 165995618.1
CHRIST WATER TEC 8131204Q GR -5754285.054 165995618.1
CHRIST WATER TEC CWT EU -5754285.054 165995618.1
CHRIST WATER TEC CWT PZ -5754285.054 165995618.1
CHRIST WATER TEC CRSWF US -5754285.054 165995618.1
CHRIST WATER TEC CWT AV -5754285.054 165995618.1
CHRIST WATER TEC CWT EO -5754285.054 165995618.1
CHRIST WATER-ADR CRSWY US -5754285.054 165995618.1
KA FINANZ AG 3730Z AV -9072224.934 22043329918
LIBRO AG LIBR AV -110486313.8 174004185
LIBRO AG LIB AV -110486313.8 174004185
LIBRO AG LB6 GR -110486313.8 174004185
LIBRO AG LBROF US -110486313.8 174004185
S&T SYSTEM I-ADR STSQY US -31284693.65 200208144.5
S&T SYSTEM INTEG SYA GR -31284693.65 200208144.5
S&T SYSTEM INTEG SNTS ES -31284693.65 200208144.5
S&T SYSTEM INTEG STSQF US -31284693.65 200208144.5
S&T SYSTEM INTEG SYA EX -31284693.65 200208144.5
S&T SYSTEM INTEG SNT EU -31284693.65 200208144.5
S&T SYSTEM INTEG SYAG IX -31284693.65 200208144.5
S&T SYSTEM INTEG SLSYF US -31284693.65 200208144.5
S&T SYSTEM INTEG SNTS IX -31284693.65 200208144.5
S&T SYSTEM INTEG SNTA PZ -31284693.65 200208144.5
S&T SYSTEM INTEG SNT EO -31284693.65 200208144.5
S&T SYSTEM INTEG SNT AV -31284693.65 200208144.5
SKYEUROPE SKY PW -89480492.56 159076577.5
SKYEUROPE SKYP PW -89480492.56 159076577.5
SKYEUROPE HLDG SKYA PZ -89480492.56 159076577.5
SKYEUROPE HLDG SKURF US -89480492.56 159076577.5
SKYEUROPE HLDG SKYPLN EU -89480492.56 159076577.5
SKYEUROPE HLDG SKYV IX -89480492.56 159076577.5
SKYEUROPE HLDG SKY EU -89480492.56 159076577.5
SKYEUROPE HLDG SKY AV -89480492.56 159076577.5
SKYEUROPE HLDG SKY EO -89480492.56 159076577.5
SKYEUROPE HLDG SKY LI -89480492.56 159076577.5
SKYEUROPE HLDG SKYPLN EO -89480492.56 159076577.5
SKYEUROPE HLDG S8E GR -89480492.56 159076577.5
SKYEUROPE HOL-RT SK1 AV -89480492.56 159076577.5
BELGIUM
-------
ANTWERP GATEWAY 496769Z BB -51947070.5 266390692.5
BALTA SARL 3679528Z BB -213655263.9 956320938.3
BIO ANALYTICAL R 3723198Z BB -41974594.66 193574592.4
COMPAGIMMOBDU BR 3727538Z BB -5867835.156 164809982.4
EON BELGIUM NV 3730258Z BB -8101077.851 251156828.9
EXPLORER NV 4289181Z BB -11594573.86 281605390.1
FINANCIETOREN NV 3729210Z BB -42317802.71 777656536.7
IRUS ZWEIBRUCKEN 3738979Z BB -12563627.16 113270540
JULIE LH BVBA 3739923Z BB -25317190.48 175772641.2
KIA MOTORS BELGI 3729658Z BB -40305545.64 136441397.8
KOREAN MOTOR CO 4161341Z BB -6368236.209 149093852.6
LAND VAN HOP NV 3727898Z BB -141334.2956 138885001.8
SABENA SA SABA BB -85494497.66 2215341060
SAPPI EUROPE SA 3732894Z BB -119299289.7 158958659.1
SCARLET BELGIUM 4171157Z BB -28951978.94 137456538.4
SCARLETT BUSINES 3724850Z BB -71847152.77 130053838
SOCIETE NATIONAL 3726762Z BB -39045394.16 506987115.6
UNIVERSAL MUSIC 3738307Z BB -12191533.66 143700285.8
CROATIA
-------
BADEL 1862 DD BD62RA CZ -14314922.98 136681894.4
MAGMA DD MGMARA CZ -6945891.192 118172308.3
OT OPTIMA TELEKO 2299892Z CZ -83005841.81 114547056.6
OT-OPTIMA TELEKO OPTERA CZ -83005841.81 114547056.6
CYPRUS
------
LIBRA HOLIDA-RTS LBR CY -39648682.41 209021322.6
LIBRA HOLIDA-RTS LGWR CY -39648682.41 209021322.6
LIBRA HOLIDAY-RT 3167808Z CY -39648682.41 209021322.6
LIBRA HOLIDAYS LHGCYP EO -39648682.41 209021322.6
LIBRA HOLIDAYS LHGCYP EU -39648682.41 209021322.6
LIBRA HOLIDAYS LHGR CY -39648682.41 209021322.6
LIBRA HOLIDAYS G LHG CY -39648682.41 209021322.6
LIBRA HOLIDAYS G LHG EO -39648682.41 209021322.6
LIBRA HOLIDAYS G LHG PZ -39648682.41 209021322.6
LIBRA HOLIDAYS G LHG EU -39648682.41 209021322.6
LIBRA HOLIDAYS-P LBHG PZ -39648682.41 209021322.6
LIBRA HOLIDAYS-P LBHG CY -39648682.41 209021322.6
CZECH REPUBLIC
--------------
CKD PRAHA HLDG CKDH US -89435858.16 192305153
CKD PRAHA HLDG CDP EX -89435858.16 192305153
CKD PRAHA HLDG CKDPF US -89435858.16 192305153
CKD PRAHA HLDG CKDH CP -89435858.16 192305153
CKD PRAHA HLDG 297687Q GR -89435858.16 192305153
CSA AS 1000Z CP -127978073.4 432492914
SETUZA AS 2994767Q EO -61453764.17 138582273.6
SETUZA AS SETUZA PZ -61453764.17 138582273.6
SETUZA AS SZA GR -61453764.17 138582273.6
SETUZA AS SETU IX -61453764.17 138582273.6
SETUZA AS SETUZA CP -61453764.17 138582273.6
SETUZA AS 2994763Q EU -61453764.17 138582273.6
SETUZA AS 2994755Q EU -61453764.17 138582273.6
SETUZA AS 2994759Q EO -61453764.17 138582273.6
SETUZA AS SZA EX -61453764.17 138582273.6
DENMARK
-------
AB-B NEW ABBN DC -101428498.9 298588010.2
AKADEMISK BOLDK ABB DC -101428498.9 298588010.2
BRIGHTPOINT EURO 4506883Z DC -18616347.98 189113937.7
CARLSBERG IT A/S 4503891Z DC -47250912.74 105417004.1
CIMBER STERLING CIMBE EU -5227729.374 192575897.9
CIMBER STERLING CIMBER DC -5227729.374 192575897.9
CIMBER STERLING CIMBE EO -5227729.374 192575897.9
CIMBER STERLING CIMBER BY -5227729.374 192575897.9
ELITE SHIPPING ELSP DC -27715991.74 100892900.3
FINANSIERINGSSEL 3977156Z DC -2410332.543 110737536.3
GREEN WIND ENERG G7W1 GR -11320362.72 176234029.6
GREEN WIND ENERG GW EO -11320362.72 176234029.6
GREEN WIND ENERG GW BY -11320362.72 176234029.6
GREEN WIND ENERG G7W GR -11320362.72 176234029.6
GREEN WIND ENERG GW DC -11320362.72 176234029.6
GREEN WIND ENERG GWEUR EO -11320362.72 176234029.6
GREEN WIND ENERG GW PZ -11320362.72 176234029.6
GREEN WIND ENERG GWEUR EU -11320362.72 176234029.6
GREEN WIND ENERG GW EU -11320362.72 176234029.6
HOLDINGSELSKABET BOHC IX -11320362.72 176234029.6
HOLDINGSELSKABET BODIL DC -11320362.72 176234029.6
LAURITZEN TANKER 3979732Z DC -4428758.299 209128194.8
NATURGAS FYN DIS 3984844Z DC -2862743.662 194651527
NESTLE DANMARK A 3896690Z DC -31272771.75 160779148
OBTEC OBTEC DC -16220512.31 156484311
OBTEC OBT DC -16220512.31 156484311
OBTEC-NEW SHARES OBTECN DC -16220512.31 156484311
OBTEC-OLD OBTN DC -16220512.31 156484311
ORESUNDSBRO KONS 1015Z SS -583944155.3 3614975702
OSTERFALLEDPARKE 3985676Z DC -26063679.19 302533679.4
OW SUPPLY & TRAD 3986892Z DC -4299263.6 165798948.6
REITAN SERVICEHA 3984284Z DC -1371178.576 127192706
ROSKILDE BANK RSKC IX -532868840.9 7876687324
ROSKILDE BANK ROSBF US -532868840.9 7876687324
ROSKILDE BANK ROSK PZ -532868840.9 7876687324
ROSKILDE BANK ROSK DC -532868840.9 7876687324
ROSKILDE BANK ROSK EU -532868840.9 7876687324
ROSKILDE BANK ROSKF US -532868840.9 7876687324
ROSKILDE BANK ROSK EO -532868840.9 7876687324
ROSKILDE BANK RKI GR -532868840.9 7876687324
ROSKILDE BANK-RT 916603Q DC -532868840.9 7876687324
ROSKILDE BAN-NEW ROSKN DC -532868840.9 7876687324
ROSKILDE BAN-RTS ROSKT DC -532868840.9 7876687324
SCANDINAVIAN BRA SBSC IX -16220512.31 156484311
SCANDINAVIAN BRA SBS1EUR EU -16220512.31 156484311
SCANDINAVIAN BRA SBSD PZ -16220512.31 156484311
SCANDINAVIAN BRA SBS1 BY -16220512.31 156484311
SCANDINAVIAN BRA SBS DC -16220512.31 156484311
SCANDINAVIAN BRA SBS1EUR EO -16220512.31 156484311
SCANDINAVIAN BRA SBS1 EU -16220512.31 156484311
SCANDINAVIAN BRA SBS1 EO -16220512.31 156484311
SCHAUMANN PROP SCHAUP EU -101428498.9 298588010.2
SCHAUMANN PROP SCHAUP DC -101428498.9 298588010.2
SCHAUMANN PROP SCHAUP PZ -101428498.9 298588010.2
SCHAUMANN PROP SCHAU BY -101428498.9 298588010.2
SCHAUMANN PROP SCHAU EO -101428498.9 298588010.2
SCHAUMANN PROP SCHAUEUR EO -101428498.9 298588010.2
SCHAUMANN PROP SCHAUEUR EU -101428498.9 298588010.2
SCHAUMANN PROP SCHAU EU -101428498.9 298588010.2
FRANCE
------
3 SUISSES FRANCE 4724713Z FP -151969329.6 262408720
ACERINOX FRANCE 4748633Z FP -4970414.587 106673210.6
AIR COMMAND SYST 4470055Z FP -24012413.92 236706831.5
AIRCELLE 61830Q FP -627210407.1 1037716117
AKERYS SERVICES 4685937Z FP -8561729.525 141611798.1
ALCATEL-LUCENT E 3642975Z FP -46648079.19 510672247.2
ALCATEL-LUCENT F 3647063Z FP -566942548.5 4810123614
AL-KHATTIYA LEAS 4783713Z FP -8522159.06 132815959.7
ALUMINIUM PECHIN 3650903Z FP -469114028.7 1322244624
ARIANESPACE 211530Z FP -51743991.45 3354710780
ATARI IFOE PZ -5534100.115 138494402.9
ATARI SA IFGA GR -5534100.115 138494402.9
ATARI SA ATA EB -5534100.115 138494402.9
ATARI SA ATA QM -5534100.115 138494402.9
ATARI SA ATA FP -5534100.115 138494402.9
ATARI SA ATA EU -5534100.115 138494402.9
ATARI SA IFGA TH -5534100.115 138494402.9
ATARI SA ATA S1 -5534100.115 138494402.9
ATARI SA ATA TQ -5534100.115 138494402.9
ATARI SA ATA PZ -5534100.115 138494402.9
ATARI SA ATA BQ -5534100.115 138494402.9
ATARI SA ATANV FP -5534100.115 138494402.9
ATARI SA ATA EO -5534100.115 138494402.9
ATARI-NEW 3715502Q FP -5534100.115 138494402.9
AUTOMOBILES CITR 3648863Z FP -298695778.9 1879542934
BELVEDERE BVD PW -242409144.5 831869150.8
BELVEDERE - RTS 554451Q FP -242409144.5 831869150.8
BELVEDERE - RTS 702036Q FP -242409144.5 831869150.8
BELVEDERE SA BVD PZ -242409144.5 831869150.8
BELVEDERE SA BVD EO -242409144.5 831869150.8
BELVEDERE SA BED TH -242409144.5 831869150.8
BELVEDERE SA BELV NM -242409144.5 831869150.8
BELVEDERE SA BVDRF US -242409144.5 831869150.8
BELVEDERE SA BEVD IX -242409144.5 831869150.8
BELVEDERE SA BELV FP -242409144.5 831869150.8
BELVEDERE SA BVD FP -242409144.5 831869150.8
BELVEDERE SA BED GR -242409144.5 831869150.8
BELVEDERE SA BVD EU -242409144.5 831869150.8
BELVEDERE SA BVD S1 -242409144.5 831869150.8
BELVEDERE SA-NEW BVDNV FP -242409144.5 831869150.8
BELVEDERE SA-NEW 8198283Q FP -242409144.5 831869150.8
BELVEDERE SA-NEW 946529Q FP -242409144.5 831869150.8
BELVEDERE SA-RTS BVDDS FP -242409144.5 831869150.8
BENP LILLEBONNE 4507291Z FP -14494480.15 341710346.6
BOURBON SA GBBUSD EO -1.24E+11 5086583847
BOURBON SA GBB PZ -1.24E+11 5086583847
BOURBON SA GBB EO -1.24E+11 5086583847
BOURBON SA GBB EU -1.24E+11 5086583847
BOURBON SA GBB GK -1.24E+11 5086583847
BOURBON SA BOUBF US -1.24E+11 5086583847
BOURBON SA GSH GR -1.24E+11 5086583847
BOURBON SA GBBGBX EU -1.24E+11 5086583847
BOURBON SA GBB BQ -1.24E+11 5086583847
BOURBON SA GBBGBP EO -1.24E+11 5086583847
BOURBON SA GBBUSD EU -1.24E+11 5086583847
BOURBON SA GBB FP -1.24E+11 5086583847
BOURBON SA GPBN IX -1.24E+11 5086583847
BOURBON SA GBB S1 -1.24E+11 5086583847
BOURBON SA GBB EB -1.24E+11 5086583847
BOURBON SA 3320185Z FP -1.24E+11 5086583847
BOURBON SA GBBGBX EO -1.24E+11 5086583847
BOURBON SA GBB NQ -1.24E+11 5086583847
BOURBON SA GBB IX -1.24E+11 5086583847
BOURBON SA GSH TH -1.24E+11 5086583847
BOURBON SA GBB TQ -1.24E+11 5086583847
BOURBON SA GBB LI -1.24E+11 5086583847
BOURBON SA GBB QM -1.24E+11 5086583847
BOURBON SA - NEW 3510282Q FP -1.24E+11 5086583847
BOURBON SA - NEW GBBNV FP -1.24E+11 5086583847
BOURBON SA - NEW 8130287Q FP -1.24E+11 5086583847
BOURBON SA - RTS 8446802Z FP -1.24E+11 5086583847
BOURBON SA/NEW 879958Q FP -1.24E+11 5086583847
CADES 211430Z FP -1.32E+11 9983888303
CARCOOP FRANCE 4690569Z FP -531951.7338 185621693.8
CARI SAS 4509915Z FP -10848329.91 182415382.5
CARREFOUR HYPERM 3897338Z FP -419813693 4772178623
CARREFOUR IMPORT 4519455Z FP -41015523.06 355888577.4
CARRERE GROUP CARF PZ -9829531.944 279906700
CARRERE GROUP CARG FP -9829531.944 279906700
CARRERE GROUP CRRHF US -9829531.944 279906700
CARRERE GROUP CAR2 EO -9829531.944 279906700
CARRERE GROUP XRR GR -9829531.944 279906700
CARRERE GROUP CRGP IX -9829531.944 279906700
CARRERE GROUP CAR FP -9829531.944 279906700
CARRERE GROUP CAR2 EU -9829531.944 279906700
CDISCOUNT 4690913Z FP -92485.81144 331210839.3
CELINE SA 3636031Z FP -6546413.145 108306445
CMA CGM AGENCES 4746849Z FP -7380117.985 187789703.7
CO PETROCHIMIQUE 4682369Z FP -79561628.19 444321642.5
COMPAGNIE IMMOBI CIMB FP -18851260.64 237751743.8
COMPAGNIE IMMOBI CIMB S1 -18851260.64 237751743.8
COMPAGNIE IMMOBI CIMB EO -18851260.64 237751743.8
COMPAGNIE IMMOBI CIMB EU -18851260.64 237751743.8
COMPAGNIE IMMOBI CIMB PZ -18851260.64 237751743.8
CSF 3635887Z FP -66127486.72 3311857250
DESCAMPS SAS 4503139Z FP -2912961.458 104843475.7
EADS SECA 4706441Z FP -38679556.91 142045208.8
EDENRED EDEN S1 -1395452285 5596512266
EDENRED EDEN QM -1395452285 5596512266
EDENRED EDNMF US -1395452285 5596512266
EDENRED EDEN EU -1395452285 5596512266
EDENRED EDEN BQ -1395452285 5596512266
EDENRED EDEN PZ -1395452285 5596512266
EDENRED EDEN EO -1395452285 5596512266
EDENRED EDEN IX -1395452285 5596512266
EDENRED QSV GR -1395452285 5596512266
EDENRED EDEN FP -1395452285 5596512266
EDENRED EDENUSD EU -1395452285 5596512266
EDENRED QSV TH -1395452285 5596512266
EDENRED EDEN TQ -1395452285 5596512266
EDENRED EDENUSD EO -1395452285 5596512266
EDENRED EDEN EB -1395452285 5596512266
EDF EN FRANCE 4686529Z FP -4085423.459 508820792.6
EDF EN OUTRE MER 4679713Z FP -2598508.843 158364874.7
EMPAIN GRAHAM DV EMGD FP -18851260.64 237751743.8
FRANFINANCE LOCA 4689993Z FP -69780982.12 1638852912
GRANDE PAROISSE GAPA FP -927267926.9 629287290
GRANDE PAROISSE GDPA FP -927267926.9 629287290
GRANDE PAROISSE GDPXF US -927267926.9 629287290
GROUPE BOURBON BOUR FP -1.24E+11 5086583847
GROUPE BOURBON GPBJF US -1.24E+11 5086583847
GROUPE MONITEUR 317840Z FP -116707395.4 610106709.3
GROUPE PROGRES S 4734137Z FP -165060841.9 123458910.5
HP ENTREPRISE SE 4698081Z FP -97546439.37 116383810.4
HUREL-DUBOIS HDUN FP -627210407.1 1037716117
I BASE 757542Z FP -11937366.64 400192956.6
INFOGRAMES - REG IFOE IX -5534100.115 138494402.9
INFOGRAMES - REG IFG TQ -5534100.115 138494402.9
INFOGRAMES - REG IFG EU -5534100.115 138494402.9
INFOGRAMES - REG IFG FP -5534100.115 138494402.9
INFOGRAMES - REG IFG EO -5534100.115 138494402.9
INFOGRAMES E-NEW IFGN FP -5534100.115 138494402.9
INFOGRAMES ENT IFGNR FP -5534100.115 138494402.9
INFOGRAMES ENT IFOY IX -5534100.115 138494402.9
INFOGRAMES ENT IFGEF US -5534100.115 138494402.9
INFOGRAMES ENT IFG PZ -5534100.115 138494402.9
INFOGRAMES ENT 2986980Q EU -5534100.115 138494402.9
INFOGRAMES ENT IFG GR -5534100.115 138494402.9
INFOGRAMES ENT 2986984Q EO -5534100.115 138494402.9
INFOGRAMES ENTMT IFG VX -5534100.115 138494402.9
INFOGRAMES ENTMT IFGRF US -5534100.115 138494402.9
INFOGRAMES- RTS IFGDS FP -5534100.115 138494402.9
INFOGRAMES-NEW IFGNV FP -5534100.115 138494402.9
INFOGRAMES-RTS 3133246Q FP -5534100.115 138494402.9
ING LEASE FRANCE 4699881Z FP -49994620.93 363520475.8
ISOCHEM SA 3540732Z FP -9354435.203 103629611.4
ITM REGION PARIS 4681817Z FP -49662079.76 124321085.9
JACQUOT ET CO 4721473Z FP -25605144.44 101591294.6
JTEKT AUTOMOTIVE 4505819Z FP -14610384.74 211911630
JTEKT AUTOMOTIVE 4504595Z FP -17492036.59 163375360
JUNGHEINRICH FIN 4635025Z FP -14429677.13 223424949.4
LAB DOLISOS DOLI FP -27752176.19 110485462.4
LAB DOLISOS LADL FP -27752176.19 110485462.4
LENOVO FRANCE SA 4710049Z FP -1944677.438 137134536.2
MATUSSIERE & FOR MTUSF US -77896689.09 293868350.8
MATUSSIERE & FOR 1007765Q FP -77896689.09 293868350.8
MILLIMAGES MLIGF US -1006050.249 113454378.9
MILLIMAGES MIL S1 -1006050.249 113454378.9
MILLIMAGES MIL1 EO -1006050.249 113454378.9
MILLIMAGES MILF PZ -1006050.249 113454378.9
MILLIMAGES MG6 GR -1006050.249 113454378.9
MILLIMAGES MILI FP -1006050.249 113454378.9
MILLIMAGES 8131905Q FP -1006050.249 113454378.9
MILLIMAGES MIL1 PZ -1006050.249 113454378.9
MILLIMAGES MLMG IX -1006050.249 113454378.9
MILLIMAGES MIL FP -1006050.249 113454378.9
MILLIMAGES MIL1 EU -1006050.249 113454378.9
MILLIMAGES - RTS MILDS FP -1006050.249 113454378.9
MILLIMAGES-RTS 760037Q FP -1006050.249 113454378.9
MVCI HOLIDAYS FR 4524959Z FP -112193151.3 233381369.4
NESTLE WATERS SU 3634887Z FP -100198554 212766860.3
NESTLE WATERS SU 3634879Z FP -166540192.4 357871830.8
NEXANS COPPER FR 4744809Z FP -22662074.82 308626962.2
NORDEX FRANCE SA 4521679Z FP -6460150.538 206115454.1
NOVELIS FOIL FRA 4678593Z FP -7951381.035 121719315.4
NOVEXEL SA 504169Z FP -362303.7226 107272250.4
NRJ 12 4681713Z FP -41481124.19 112522117.5
OROSDI OROS EU -51389802.68 181267113.2
OROSDI OROS FP -51389802.68 181267113.2
OROSDI OROS S1 -51389802.68 181267113.2
OROSDI OROS PZ -51389802.68 181267113.2
OROSDI OROS EO -51389802.68 181267113.2
OROSDI-BACK ORBA FP -51389802.68 181267113.2
OROSDI-BACK BACK IX -51389802.68 181267113.2
PAGESJAUNES GRP PAJ BQ -3184867284 1167307980
PAGESJAUNES GRP PAJGBX EU -3184867284 1167307980
PAGESJAUNES GRP PAJ EO -3184867284 1167307980
PAGESJAUNES GRP PAJ TQ -3184867284 1167307980
PAGESJAUNES GRP PAJUSD EO -3184867284 1167307980
PAGESJAUNES GRP PAJ PZ -3184867284 1167307980
PAGESJAUNES GRP PAJ VX -3184867284 1167307980
PAGESJAUNES GRP PAJ EB -3184867284 1167307980
PAGESJAUNES GRP QS3 TH -3184867284 1167307980
PAGESJAUNES GRP PAJ NQ -3184867284 1167307980
PAGESJAUNES GRP PAJ LI -3184867284 1167307980
PAGESJAUNES GRP PGJUF US -3184867284 1167307980
PAGESJAUNES GRP PAJ FP -3184867284 1167307980
PAGESJAUNES GRP PAJGBX EO -3184867284 1167307980
PAGESJAUNES GRP PAJ QM -3184867284 1167307980
PAGESJAUNES GRP PAJ IX -3184867284 1167307980
PAGESJAUNES GRP PAJ S1 -3184867284 1167307980
PAGESJAUNES GRP PAJGBP EO -3184867284 1167307980
PAGESJAUNES GRP PAJUSD EU -3184867284 1167307980
PAGESJAUNES GRP PAJ GK -3184867284 1167307980
PAGESJAUNES GRP PAJ EU -3184867284 1167307980
PAGESJAUNES GRP QS3 GR -3184867284 1167307980
PAGESJAUNES GRP PAJP IX -3184867284 1167307980
PEUGEOT CITROEN 3637183Z FP -268215289.1 319403481.8
PITNEY BOWES 4634633Z FP -11785422.82 184422748.8
REGIE PUBLICITAI 4691033Z FP -5262294.526 112402724.7
REGIONAL COMPAGN 3635823Z FP -11262048.65 587139828.4
RESEAU FERRE FRA 224063Z FP -1967529685 70147358617
RHODIA SA RHA BQ -72552001.48 7951699362
RHODIA SA RHDI TH -72552001.48 7951699362
RHODIA SA RHA EB -72552001.48 7951699362
RHODIA SA RHAGBP EO -72552001.48 7951699362
RHODIA SA 2324015Q EO -72552001.48 7951699362
RHODIA SA RHADF US -72552001.48 7951699362
RHODIA SA RHANR PZ -72552001.48 7951699362
RHODIA SA RHD GR -72552001.48 7951699362
RHODIA SA RHAGBX EU -72552001.48 7951699362
RHODIA SA RHA VX -72552001.48 7951699362
RHODIA SA 2324011Q EU -72552001.48 7951699362
RHODIA SA RHA TQ -72552001.48 7951699362
RHODIA SA RHA FP -72552001.48 7951699362
RHODIA SA RHDAF US -72552001.48 7951699362
RHODIA SA RHAGBX EO -72552001.48 7951699362
RHODIA SA RHAUSD EO -72552001.48 7951699362
RHODIA SA RHA S1 -72552001.48 7951699362
RHODIA SA RHAY IX -72552001.48 7951699362
RHODIA SA RHA NQ -72552001.48 7951699362
RHODIA SA RHA IX -72552001.48 7951699362
RHODIA SA RHA GK -72552001.48 7951699362
RHODIA SA 3218857Q IX -72552001.48 7951699362
RHODIA SA RHA QM -72552001.48 7951699362
RHODIA SA RHA PZ -72552001.48 7951699362
RHODIA SA RHA EO -72552001.48 7951699362
RHODIA SA RHAUSD EU -72552001.48 7951699362
RHODIA SA RHDI GR -72552001.48 7951699362
RHODIA SA RHA EU -72552001.48 7951699362
RHODIA SA - NEW 3506266Q FP -72552001.48 7951699362
RHODIA SA - NEW 8125782Q FP -72552001.48 7951699362
RHODIA SA - NEW RHANV FP -72552001.48 7951699362
RHODIA SA - NEW 2335921Q FP -72552001.48 7951699362
RHODIA SA - NEW 3156011Q FP -72552001.48 7951699362
RHODIA SA-ADR RHAYY US -72552001.48 7951699362
RHODIA SA-NON RE RHANR FP -72552001.48 7951699362
RHODIA SA-RIGHTS RHADS FP -72552001.48 7951699362
RHODIA SA-RIGHTS 653447Q FP -72552001.48 7951699362
RL INVEST SAS 4700369Z FP -21424084.29 103412643
RODRIGUEZ GROUP ROD FP -38195223.8 238732565
RODRIGUEZ GROUP RRGZF US -38195223.8 238732565
RODRIGUEZ GROUP ROD TQ -38195223.8 238732565
RODRIGUEZ GROUP ROD BQ -38195223.8 238732565
RODRIGUEZ GROUP ROD PZ -38195223.8 238732565
RODRIGUEZ GROUP ROD EO -38195223.8 238732565
RODRIGUEZ GROUP ROD S1 -38195223.8 238732565
RODRIGUEZ GROUP ROD EU -38195223.8 238732565
RODRIGUEZ GROUP RGX GR -38195223.8 238732565
RODRIGUEZ GROUP RDGP IX -38195223.8 238732565
SANDOZ SAS 3635111Z FP -18996502.07 160259044.1
SDR CENTREST 117241Q FP -132420129.5 252176017.2
SEAFRANCE 1707464Z FP -1015379.945 247033398.8
SHEET ANCHOR FRA 4745417Z FP -16938893.1 192023042.9
SIDEL CONVEYING 4715393Z FP -57759126.57 147204049
SIEMENS VAI META 4634441Z FP -78630983.34 175225384.5
SOC NICOISE REAL 4749097Z FP -6176043.591 112289722.4
SOCIETE COMMERCI 4516647Z FP -179862008.2 1576030746
SOCIETE D'AGENCE 4741441Z FP -3996843.897 267209404.9
SOCIETE DE CHAUF 4722937Z FP -11549371.73 107340406.8
STE DU 67 BD DU 4686753Z FP -550297.9006 103136595.7
STORA ENSO CORBE 4697593Z FP -932413.9939 163080772.7
SU3 SAS 4686497Z FP -11118401.88 105002034
TEAM PARTNER-RTS 633323Q FP -13557467.93 129831049
TEAM PARTNER-RTS 2841653Q FP -13557467.93 129831049
TEAM PARTNERS TIP FP -13557467.93 129831049
TEAM PARTNERS TIP PZ -13557467.93 129831049
TEAM PARTNERS TPTRF US -13557467.93 129831049
TEAM PARTNERS 2347985Q EO -13557467.93 129831049
TEAM PARTNERS TPGY IX -13557467.93 129831049
TEAM PARTNERS 2347981Q EU -13557467.93 129831049
TEAM PARTNERS GR TIPDS FP -13557467.93 129831049
TEAM PARTNERS GR TPGP PZ -13557467.93 129831049
TEAM PARTNERS GR TIPA FP -13557467.93 129831049
TEAM PARTNERS GR TIPA EO -13557467.93 129831049
TEAM PARTNERS GR TIPA EU -13557467.93 129831049
TEAM PARTNERS GR TIPNV FP -13557467.93 129831049
TEAM PARTNERS GR TPGP IX -13557467.93 129831049
TEAM PARTNERS-N TIPN FP -13557467.93 129831049
TF1 VIDEO SASU 4516855Z FP -1279245.403 166278795.5
THALES SECURITY 4701729Z FP -426153529.7 822653430.4
THOMSON TELECOM 4516815Z FP -35805908.77 528384056.4
THYSSENKRUPP SOF 4740929Z FP -18052289.45 299682634.2
TRANSOLVER SERVI 4521279Z FP -38102696.91 161124216
TREVES 4722153Z FP -70096913.54 394781399.9
TROUVAY CAUVIN ETEC FP -396977.8818 133986439.7
TROUVAY CAUVIN TVYCF US -396977.8818 133986439.7
TUILERIES FINANC 4701769Z FP -3956839.937 125936634.2
UCALEASE SA 3635807Z FP -1041989.142 150621028.5
VALEO VISION SAS 4518479Z FP -102634627 273699726.4
VISTEON SYSTEMES 4699177Z FP -149790335.3 304741135.7
YVES ST LAURENT/ 4633025Z FP -82897369.68 390343397.3
GEORGIA
-------
DEVELICA DEUTSCH D4B GR -79827494.88 1139643575
DEVELICA DEUTSCH DDE LN -79827494.88 1139643575
DEVELICA DEUTSCH DDE PZ -79827494.88 1139643575
DEVELICA DEUTSCH DDE PG -79827494.88 1139643575
DEVELICA DEUTSCH DDE IX -79827494.88 1139643575
PEARL HOLDING 3622Z LN -133833007.2 968234065.8
GERMANY
-------
AGOR AG DOO S1 -482449.8788 144432986.2
AGOR AG NDAGF US -482449.8788 144432986.2
AGOR AG DOO EU -482449.8788 144432986.2
AGOR AG DOOD PZ -482449.8788 144432986.2
AGOR AG DOO GR -482449.8788 144432986.2
AGOR AG DOOG IX -482449.8788 144432986.2
AGOR AG DOO EO -482449.8788 144432986.2
AGOR AG-RTS 2301918Z GR -482449.8788 144432986.2
ALNO AG ANO S1 -73119134.74 198564619.3
ALNO AG ANO EU -73119134.74 198564619.3
ALNO AG ANO GR -73119134.74 198564619.3
ALNO AG ANO TH -73119134.74 198564619.3
ALNO AG ANO EO -73119134.74 198564619.3
ALNO AG ANO PZ -73119134.74 198564619.3
ALNO AG ALNO IX -73119134.74 198564619.3
ALNO AG - RTS ANO2 GR -73119134.74 198564619.3
ALNO AG-NEW ANO1 GR -73119134.74 198564619.3
ALNO AG-RTS 8174351Z GR -73119134.74 198564619.3
ALNO AG-RTS 2259765Z GR -73119134.74 198564619.3
ALNO AG-RTS 4123912Z GR -73119134.74 198564619.3
ATRONIC INTERNAT 504688Z GR -30668737.79 163495101.6
BROKAT AG BRKAF US -27139603.03 143536830.1
BROKAT AG BKISF US -27139603.03 143536830.1
BROKAT AG BROAF US -27139603.03 143536830.1
BROKAT AG BROFQ US -27139603.03 143536830.1
BROKAT AG -NEW BRJ1 GR -27139603.03 143536830.1
BROKAT AG -NEW BRJ1 NM -27139603.03 143536830.1
BROKAT AG-ADR BROA US -27139603.03 143536830.1
BROKAT TECH -ADR BROAQ US -27139603.03 143536830.1
BROKAT TECH AG BRJ GR -27139603.03 143536830.1
BROKAT TECH AG BSA LN -27139603.03 143536830.1
BROKAT TECH AG BRJ NM -27139603.03 143536830.1
BROKAT TECH-ADR BRJA GR -27139603.03 143536830.1
CBB HOLDING AG COB GR -42994818.04 904723627.8
CBB HOLDING AG COBG IX -42994818.04 904723627.8
CBB HOLDING AG COBG PZ -42994818.04 904723627.8
CBB HOLDING AG COB2 EU -42994818.04 904723627.8
CBB HOLDING AG COB2 EO -42994818.04 904723627.8
CBB HOLDING AG CUBDF US -42994818.04 904723627.8
CBB HOLDING-NEW COB3 GR -42994818.04 904723627.8
CBB HOLDING-NEW COB1 GR -42994818.04 904723627.8
CBB HOLD-NEW 97 COB2 GR -42994818.04 904723627.8
COGNIS GMBH 575202Z GR -745013993.7 3306935972
COGNIS HOLDING G 635952Z GR -1587896974 2850475613
COMPASS GROUP DE 3896530Z GR -45713969.85 408640427.9
DFS DEUTSCHE FLU 1070Z GR -362698323.5 1370382283
DORT ACTIEN-BRAU 944167Q GR -12689156.29 117537053.7
DORT ACTIEN-RTS DAB8 GR -12689156.29 117537053.7
EDOB ABWICKLUNGS ESC TQ -22323468.51 425598807.8
EDOB ABWICKLUNGS ESC EU -22323468.51 425598807.8
EDOB ABWICKLUNGS ESC PZ -22323468.51 425598807.8
EDOB ABWICKLUNGS ESC GR -22323468.51 425598807.8
EDOB ABWICKLUNGS ESC TH -22323468.51 425598807.8
EDOB ABWICKLUNGS ESC BQ -22323468.51 425598807.8
EDOB ABWICKLUNGS ESC EO -22323468.51 425598807.8
EDOB ABWICKLUNGS ESCDF US -22323468.51 425598807.8
EM.TV & MERCHAND 985403Q GR -22067243.56 849175624.7
EM.TV & MERCHAND ETV VX -22067243.56 849175624.7
EM.TV & MERCHAND EMTVF US -22067243.56 849175624.7
EM.TV & MERCHAND ETV NM -22067243.56 849175624.7
EM.TV & MERCHAND ETVMF US -22067243.56 849175624.7
EM.TV & MERCHAND ETV LN -22067243.56 849175624.7
EM.TV & MERC-NEW ETV1 GR -22067243.56 849175624.7
EM.TV & MERC-NEW ETV1 NM -22067243.56 849175624.7
EM.TV & MERC-RTS ETV8 NM -22067243.56 849175624.7
EM.TV & MERC-RTS ETV8 GR -22067243.56 849175624.7
ESCADA AG ESCG IX -22323468.51 425598807.8
ESCADA AG -PFD ESC3 GR -22323468.51 425598807.8
ESCADA AG-NEW ESCN EU -22323468.51 425598807.8
ESCADA AG-NEW ESCC GR -22323468.51 425598807.8
ESCADA AG-NEW 3069367Q GR -22323468.51 425598807.8
ESCADA AG-NEW 835345Q GR -22323468.51 425598807.8
ESCADA AG-NEW ESCD GR -22323468.51 425598807.8
ESCADA AG-NEW ESCN GR -22323468.51 425598807.8
ESCADA AG-NEW ESCN EO -22323468.51 425598807.8
ESCADA AG-RTS ESCE GR -22323468.51 425598807.8
ESCADA AG-SP ADR ESCDY US -22323468.51 425598807.8
GENERAL ELECTRIC 4501923Z GR -547318343.8 8720530002
GUENTHER & SOHN GUS GR -9612095.264 130075209
GUENTHER & SOHN GUS EO -9612095.264 130075209
GUENTHER & SOHN GUS PZ -9612095.264 130075209
GUENTHER & SOHN GUS EU -9612095.264 130075209
KABEL DEUTSCHLAN KD8 BQ -2357298804 2892306039
KABEL DEUTSCHLAN KD8 QM -2357298804 2892306039
KABEL DEUTSCHLAN KD8 TH -2357298804 2892306039
KABEL DEUTSCHLAN KD8 IX -2357298804 2892306039
KABEL DEUTSCHLAN KD8 PZ -2357298804 2892306039
KABEL DEUTSCHLAN KD8USD EU -2357298804 2892306039
KABEL DEUTSCHLAN KD8 EU -2357298804 2892306039
KABEL DEUTSCHLAN KD8GBP EO -2357298804 2892306039
KABEL DEUTSCHLAN KD8 NR -2357298804 2892306039
KABEL DEUTSCHLAN KD8 GR -2357298804 2892306039
KABEL DEUTSCHLAN KBDHF US -2357298804 2892306039
KABEL DEUTSCHLAN KD8 S1 -2357298804 2892306039
KABEL DEUTSCHLAN KD8 EO -2357298804 2892306039
KABEL DEUTSCHLAN KD8USD EO -2357298804 2892306039
KABEL DEUTSCHLAN KD8 EB -2357298804 2892306039
KABEL DEUTSCHLAN KD8 TQ -2357298804 2892306039
KABEL DEUTS-CW10 DB7KWG GR -2357298804 2892306039
KAUFRING AG KFR EO -19296489.56 150995473.8
KAUFRING AG KFR PZ -19296489.56 150995473.8
KAUFRING AG KFR EU -19296489.56 150995473.8
KAUFRING AG KFR GR -19296489.56 150995473.8
KAUFRING AG KAUG IX -19296489.56 150995473.8
MAERKLIN 730904Z GR -8321071.921 115821977.5
MANIA TECHNOLOGI MNIG IX -35060809.35 107465713.6
MANIA TECHNOLOGI MNI GR -35060809.35 107465713.6
MANIA TECHNOLOGI MIAVF US -35060809.35 107465713.6
MANIA TECHNOLOGI MNI PZ -35060809.35 107465713.6
MANIA TECHNOLOGI MNI NM -35060809.35 107465713.6
MANIA TECHNOLOGI 2260970Z GR -35060809.35 107465713.6
MANIA TECHNOLOGI MNI TH -35060809.35 107465713.6
MANIA TECHNOLOGI MNI1 EO -35060809.35 107465713.6
MANIA TECHNOLOGI MNI1 EU -35060809.35 107465713.6
MANIA TECHNOLOGI MNI S1 -35060809.35 107465713.6
MATERNUS KLINI-N MAK1 GR -14418459.3 182876466.8
MATERNUS-KLINIKE MNUKF US -14418459.3 182876466.8
MATERNUS-KLINIKE MAK EU -14418459.3 182876466.8
MATERNUS-KLINIKE MAK S1 -14418459.3 182876466.8
MATERNUS-KLINIKE MAK EO -14418459.3 182876466.8
MATERNUS-KLINIKE MAK PZ -14418459.3 182876466.8
MATERNUS-KLINIKE MAK TH -14418459.3 182876466.8
MATERNUS-KLINIKE MAK GR -14418459.3 182876466.8
MATERNUS-KLINIKE MAKG IX -14418459.3 182876466.8
NORDAG AG DOO1 GR -482449.8788 144432986.2
NORDAG AG-PFD DOO3 GR -482449.8788 144432986.2
NORDAG AG-RTS DOO8 GR -482449.8788 144432986.2
NORDENIA INTL AG NOD8 GR -74471727.44 729626481.3
NORDENIA INTL AG NOD GR -74471727.44 729626481.3
NORDSEE AG 533061Q GR -8200551.142 194616922.6
PRIMACOM AG PRC2 GR -18656751.16 610380925.7
PRIMACOM AG PRC TH -18656751.16 610380925.7
PRIMACOM AG PRC S1 -18656751.16 610380925.7
PRIMACOM AG PRCG PZ -18656751.16 610380925.7
PRIMACOM AG PRC EU -18656751.16 610380925.7
PRIMACOM AG PRCG IX -18656751.16 610380925.7
PRIMACOM AG PRC EO -18656751.16 610380925.7
PRIMACOM AG PRC GR -18656751.16 610380925.7
PRIMACOM AG PCAGF US -18656751.16 610380925.7
PRIMACOM AG-ADR PCAG US -18656751.16 610380925.7
PRIMACOM AG-ADR PCAGY US -18656751.16 610380925.7
PRIMACOM AG-ADR+ PCAG ES -18656751.16 610380925.7
RAG ABWICKL-REG RSTHF US -1744124.2 217776125.8
RAG ABWICKL-REG ROS S1 -1744124.2 217776125.8
RAG ABWICKL-REG ROS1 EO -1744124.2 217776125.8
RAG ABWICKL-REG ROSG PZ -1744124.2 217776125.8
RAG ABWICKL-REG ROS1 EU -1744124.2 217776125.8
RAG ABWICKL-REG ROS GR -1744124.2 217776125.8
RINOL AG RILB IX -1.171602 168095049.1
RINOL AG RILB EU -1.171602 168095049.1
RINOL AG RNLAF US -1.171602 168095049.1
RINOL AG RIL GR -1.171602 168095049.1
RINOL AG RILB GR -1.171602 168095049.1
RINOL AG RILB EO -1.171602 168095049.1
RINOL AG RILB S1 -1.171602 168095049.1
RINOL AG RILB PZ -1.171602 168095049.1
ROSENTHAL AG 2644179Q GR -1744124.2 217776125.8
ROSENTHAL AG-ACC ROS4 GR -1744124.2 217776125.8
ROSENTHAL AG-ADR RSTHY US -1744124.2 217776125.8
ROSENTHAL AG-REG ROSG IX -1744124.2 217776125.8
SANDER (JIL) AG SAD GR -6153256.267 127546738.8
SANDER (JIL) AG JLSDF US -6153256.267 127546738.8
SANDER (JIL)-PRF 2916157Q EU -6153256.267 127546738.8
SANDER (JIL)-PRF SAD3 PZ -6153256.267 127546738.8
SANDER (JIL)-PRF SAD3 GR -6153256.267 127546738.8
SANDER (JIL)-PRF 2916161Q EO -6153256.267 127546738.8
SINNLEFFERS AG WHG GR -4491635.615 453887060.1
SPAR HANDELS-AG SPHFF US -442426239.7 1433020961
SPAR HANDELS-AG 773844Q GR -442426239.7 1433020961
SPAR HAND-PFD NV SPA3 GR -442426239.7 1433020961
TA TRIUMPH-ACQ TWNA GR -124531131.9 313411495.3
TA TRIUMPH-ACQ TWNA EU -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN EO -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN PZ -124531131.9 313411495.3
TA TRIUMPH-ADLER TTZAF US -124531131.9 313411495.3
TA TRIUMPH-ADLER TWNG IX -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN EU -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN GR -124531131.9 313411495.3
TA TRIUMPH-A-RTS 1018916Z GR -124531131.9 313411495.3
TA TRIUMPH-NEW TWN1 GR -124531131.9 313411495.3
TA TRIUMPH-RT TWN8 GR -124531131.9 313411495.3
TA TRIUMPH-RTS 3158577Q GR -124531131.9 313411495.3
UNITYMEDIA GMBH 560459Z GR -290585562 5747686306
UNITYMEDIA HESSE 2808647Z GR -290585562 5747686306
GREECE
------
AG PETZETAKIS SA PTZ GR -110812812.5 206429374.1
AG PETZETAKIS SA PETZK EU -110812812.5 206429374.1
AG PETZETAKIS SA PETZK GA -110812812.5 206429374.1
AG PETZETAKIS SA PTZ1 GR -110812812.5 206429374.1
AG PETZETAKIS SA PETZK PZ -110812812.5 206429374.1
AG PETZETAKIS SA PZETF US -110812812.5 206429374.1
AG PETZETAKIS SA PETZK EO -110812812.5 206429374.1
ASPIS PRONIA GE ASASK PZ -189908329.1 896537349.7
ASPIS PRONIA GE ASASK EO -189908329.1 896537349.7
ASPIS PRONIA GE ASASK EU -189908329.1 896537349.7
ASPIS PRONIA GE ASASK GA -189908329.1 896537349.7
ASPIS PRONIA GE AISQF US -189908329.1 896537349.7
ASPIS PRONIA -PF ASAPR GA -189908329.1 896537349.7
ASPIS PRONIA-PF APGV GR -189908329.1 896537349.7
ASPIS PRONIA-PF ASASP GA -189908329.1 896537349.7
ASPIS PRONIA-RT ASASKR GA -189908329.1 896537349.7
ASPIS PRONOIA GE APGG IX -189908329.1 896537349.7
ASPIS PRONOIA GE APG GR -189908329.1 896537349.7
ASPIS PRON-PF RT ASASPR GA -189908329.1 896537349.7
ATLANTIC SUPERMA ATLA GA -76261648.16 315891294.2
ATLANTIC SUPERMA ATLA PZ -76261648.16 315891294.2
ATLANTIC SUPERMA ATLA1 EU -76261648.16 315891294.2
ATLANTIC SUPERMA ATLA1 EO -76261648.16 315891294.2
EMPEDOS SA EMPED GA -33637669.62 174742646.9
EMPEDOS SA-RTS EMPEDR GA -33637669.62 174742646.9
HELLAS ONLINE SA HOLR GA -15570102.08 531120397.7
HELLAS ONLINE SA BRAIN PZ -15570102.08 531120397.7
HELLAS ONLINE SA BRAIN EO -15570102.08 531120397.7
HELLAS ONLINE SA UN5 GR -15570102.08 531120397.7
HELLAS ONLINE SA BRAIN EU -15570102.08 531120397.7
HELLAS ONLINE SA BRAIN GA -15570102.08 531120397.7
HELLAS ONLINE SA HOL GA -15570102.08 531120397.7
KATSELIS SON-P R KATPD GA -25687516.15 172013976.2
KATSELIS SONS-PF KATSP GA -25687516.15 172013976.2
KATSELIS SONS-RT KATKD GA -25687516.15 172013976.2
MAILLIS MLISF US -46071971.98 484719898.6
MAILLIS -RTS MAIKR GA -46071971.98 484719898.6
MAILLIS-SPON ADR MJMSY US -46071971.98 484719898.6
MJ MAILLIS S.A. MAIK EU -46071971.98 484719898.6
MJ MAILLIS S.A. MAIK GA -46071971.98 484719898.6
MJ MAILLIS S.A. MAIK PZ -46071971.98 484719898.6
MJ MAILLIS S.A. MJL GR -46071971.98 484719898.6
MJ MAILLIS S.A. MAIK EO -46071971.98 484719898.6
NAOUSSA SPIN -RT NAOYD GA -163114842.1 286539436.9
NAOUSSA SPIN-AUC NAOYKE GA -163114842.1 286539436.9
NAOUSSA SPINNING NML GR -163114842.1 286539436.9
NAOUSSA SPIN-RTS NAOYKR GA -163114842.1 286539436.9
NUTRIART S.A. KTSEF US -25687516.15 172013976.2
NUTRIART S.A. KATSK GA -25687516.15 172013976.2
NUTRIART SA KATSK PZ -25687516.15 172013976.2
NUTRIART SA NUTRIART GA -25687516.15 172013976.2
NUTRIART SA KATSK EO -25687516.15 172013976.2
NUTRIART SA KATSK EU -25687516.15 172013976.2
NUTRIART-RTS 3411089Q GA -25687516.15 172013976.2
PETZET - PFD-RTS PETZPD GA -110812812.5 206429374.1
PETZETAKIS - RTS PETZKD GA -110812812.5 206429374.1
PETZETAKIS-AUC PETZKE GA -110812812.5 206429374.1
PETZETAKIS-PFD PTZ3 GR -110812812.5 206429374.1
PETZETAKIS-PFD PETZP GA -110812812.5 206429374.1
RADIO KORASSIDIS RKC GR -100972173.9 244951680.3
RADIO KORASSIDIS RAKOF US -100972173.9 244951680.3
RADIO KORASSIDIS KORA GA -100972173.9 244951680.3
RADIO KORASSI-RT KORAD GA -100972173.9 244951680.3
RADIO KORASS-RTS KORAR GA -100972173.9 244951680.3
THEMELIODOMI THEME GA -55751173.78 232036822.6
THEMELIODOMI-AUC THEMEE GA -55751173.78 232036822.6
THEMELIODOMI-RTS THEMER GA -55751173.78 232036822.6
THEMELIODOMI-RTS THEMED GA -55751173.78 232036822.6
UNITED TEXTILES NAOYK GA -163114842.1 286539436.9
UNITED TEXTILES NAOSF US -163114842.1 286539436.9
UNITED TEXTILES UTEX GA -163114842.1 286539436.9
UNITED TEXTILES UTEX EU -163114842.1 286539436.9
UNITED TEXTILES UTEX PZ -163114842.1 286539436.9
UNITED TEXTILES UTEX EO -163114842.1 286539436.9
UNITED TEXTILES NML1 GR -163114842.1 286539436.9
HUNGARY
-------
HUNGARIAN TELEPH HUC EX -73723992 827192000
HUNGARIAN TELEPH HUGC IX -73723992 827192000
INVITEL HOLD-ADR INVHY US -73723992 827192000
INVITEL HOLD-ADR IHO US -73723992 827192000
INVITEL HOLD-ADR 0IN GR -73723992 827192000
INVITEL HOLDINGS 3212873Z HB -73723992 827192000
ICELAND
-------
AVION GROUP B1Q GR -223780368 2277882368
EIMSKIPAFELAG HF HFEIMEUR EU -223780368 2277882368
EIMSKIPAFELAG HF HFEIM PZ -223780368 2277882368
EIMSKIPAFELAG HF HFEIM IR -223780368 2277882368
EIMSKIPAFELAG HF HFEIM EU -223780368 2277882368
EIMSKIPAFELAG HF HFEIM EO -223780368 2277882368
EIMSKIPAFELAG HF HFEIMEUR EO -223780368 2277882368
EIMSKIPAFELAG HF AVION IR -223780368 2277882368
IRELAND
-------
ACS AIRCRAFT FIN 4491555Z ID -23037147.35 130480079.7
AEGON GLOBAL INS 646937Z ID -154161392 4095368960
AIRPLANES FINANC 4460505Z ID -475086961 263082549.3
AIRPLANES HOLDIN 4461857Z ID -16556589608 931628665.2
ALECTRA FINANCE 4505075Z ID -59841094.81 1863021876
ARCADE PROPERTY 4461121Z ID -271759845.9 854806905.5
ARDAGH GLASS FIN 3489820Z ID -425719878.1 5124811840
ARNOTTS HOLDINGS 4462545Z ID -345703659.3 169928201.7
AVAYA HOLDINGS L 4491803Z ID -208021348.3 112505345.4
BALLYMORE PROPER 162707Z ID -243143095.2 972399152.8
BIRCHFORD INVEST 3802508Z ID -17025540.7 218278444.2
BOSPHORUS CAPITA 3807620Z ID -547691.4495 119473277.7
CAMBER 4 PLC 3807980Z ID -548127044.3 336912874.6
CAPEL DEVELOPMEN 3813016Z ID -54774206.54 118764190.8
CARRICKMINES MAN 3799108Z ID -1594145.025 116839693.5
CELTIC ROADS GRO 4527583Z ID -5475772.455 178943648.9
COMMUNICORP GROU 1027859Z ID -28828642.17 309423497.3
CONOCOPHILLIPS I 4526671Z ID -215725943.4 369716179.9
CONOCOPHILLIPS W 3894318Z ID -199958224.4 344111929.9
DEPFA IRELAND HO 4458641Z ID -7759253.483 392619649.6
DUOMO FUNDING PL 4462513Z ID -805845.5444 1772244292
ELAN PHARMA INTE 4515071Z ID -217568725.6 1820901782
ELLERSTON GEMS O 4781417Z ID -4056787.085 195869209.7
EQUANT NETWORK S 4462057Z ID -146075974 304925852.2
EURCO FINANCE 3799980Z ID -48643223.1 679126971.7
FOL INTERNATIONA 4513251Z ID -43457938.48 343547754.8
FORTIS PROPRIETA 4781289Z ID -1335113419 6891744243
FRESHWATER FINAN 699575Z ID -251700725.1 1588010523
FRUIT OF THE LOO 4459361Z ID -96376389.16 391436785
GENERAL FINANCE 3807584Z ID -3451729.765 140460867
GS MULTI-CURRENC 4780921Z ID -218031502.7 1766463253
HELSINGOR LTD 3814256Z ID -964944.8669 123961503.3
IRISH NATIONWIDE 1020Z ID -24460514.19 16215850688
JAMES HARDIE IND 726824Z NA -454500000 1960600064
JAMES HARDIE IND HAH AU -454500000 1960600064
JAMES HARDIE IND 600241Q GR -454500000 1960600064
JAMES HARDIE IND HAH NZ -454500000 1960600064
JAMES HARDIE NV JHXCC AU -454500000 1960600064
JAMES HARDIE-ADR JHINY US -454500000 1960600064
JAMES HARDIE-ADR JHX US -454500000 1960600064
JAMES HARDIE-CDI JHX AU -454500000 1960600064
JAMES HARDIE-CDI JHA TH -454500000 1960600064
JAMES HARDIE-CDI JHA GR -454500000 1960600064
JAMES HARDIE-CDI JHIUF US -454500000 1960600064
LCH EUROPEAN POR 3809212Z ID -91665071.77 296022574.1
LEASEPLAN FINANC 1179Z NA -14450149.08 8220952390
LTR FINANCE NO 8 3816616Z ID -15113152.02 537522513
MAINAU FUNDING L 4460161Z ID -216846138.8 1309830017
MCINERNEY HLDGS MCIGBX EU -137972148.5 304108432.2
MCINERNEY HLDGS MCI EO -137972148.5 304108432.2
MCINERNEY HLDGS MCI PO -137972148.5 304108432.2
MCINERNEY HLDGS MNEYF US -137972148.5 304108432.2
MCINERNEY HLDGS MCI ID -137972148.5 304108432.2
MCINERNEY HLDGS MCI LN -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBP EO -137972148.5 304108432.2
MCINERNEY HLDGS MCI VX -137972148.5 304108432.2
MCINERNEY HLDGS MK9 PO -137972148.5 304108432.2
MCINERNEY HLDGS MCI EU -137972148.5 304108432.2
MCINERNEY HLDGS MK9C PZ -137972148.5 304108432.2
MCINERNEY HLDGS MCII IX -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBX EO -137972148.5 304108432.2
MCINERNEY HLDGS MCI IX -137972148.5 304108432.2
MCINERNEY HLDGS MK9 GR -137972148.5 304108432.2
MCINERNEY PROP-A MYP ID -137972148.5 304108432.2
MCINERNEY PROP-A MYP LN -137972148.5 304108432.2
MCINERNEY PROP-A MCIYF US -137972148.5 304108432.2
MCINERNEY -RT FP MCIF LN -137972148.5 304108432.2
MCINERNEY -RT FP MCIF ID -137972148.5 304108432.2
MCINERNEY -RT NP MCIN LN -137972148.5 304108432.2
MCINERNEY -RT NP MCIN ID -137972148.5 304108432.2
MCINERNEY-ADR MNEYY US -137972148.5 304108432.2
MYRMIDON CMBS PR 3819292Z ID -76324372.07 313019507.2
NOVELL IRELAND S 3632507Z ID -26753771.46 278570269.2
PAYZONE PLC PAYZ EO -138030903.2 510010035.3
PAYZONE PLC PAYZ IX -138030903.2 510010035.3
PAYZONE PLC PAYZ PG -138030903.2 510010035.3
PAYZONE PLC PAYZ EU -138030903.2 510010035.3
PAYZONE PLC 4P6 GR -138030903.2 510010035.3
PAYZONE PLC PAYZ PZ -138030903.2 510010035.3
PAYZONE PLC PAYZ LN -138030903.2 510010035.3
PENNYGOLD TRADIN 4459561Z ID -77668624.17 1296718702
PROVIDENCE RESOU PRR IX -31729163.16 134629066.1
PROVIDENCE RESOU PVDRF US -31729163.16 134629066.1
PROVIDENCE RESOU PRP PG -31729163.16 134629066.1
PROVIDENCE RESOU PRP ID -31729163.16 134629066.1
PROVIDENCE RESOU PRP PZ -31729163.16 134629066.1
PROVIDENCE RESOU PRP EO -31729163.16 134629066.1
PROVIDENCE RESOU 3660853Q IX -31729163.16 134629066.1
PROVIDENCE RESOU PZQ PO -31729163.16 134629066.1
PROVIDENCE RESOU PVR LN -31729163.16 134629066.1
PROVIDENCE RESOU PRP EU -31729163.16 134629066.1
PROVIDENCE RESOU PRPGBP EO -31729163.16 134629066.1
PROVIDENCE RE-UT PZQ GR -31729163.16 134629066.1
PROVIDENCE-F/P PRPF ID -31729163.16 134629066.1
PROVIDENCE-N/P PRPN ID -31729163.16 134629066.1
QUINN GROUP LTD 166771Z ID -228838127.1 2504412121
RELIANCE FLAG TE 4511819Z ID -132410401.4 259945642.6
RHATIGAN COMMERC 3800004Z ID -150605071 218524413.7
SALOME FUNDING P 747246Z ID -1780227.756 2390329099
SCHWARZ PHARMA L 626603Z ID -527103751.5 385715998.9
SHENDA IRELAND L 4781889Z ID -164635178.9 186343517.3
SPENCER DOCK DEV 3813908Z ID -87906519 773958702
SUSQUEHANNA EURO 4459081Z ID -1252022268 5765502698
TAKEDA PHARMA IR 4460049Z ID -553964898.1 178556098.5
TOPAZ ENERGY GRO 4508643Z ID -20430096.67 574668196.2
UDARAS EITLIOCHT 4461649Z ID -38554945.52 228382904.9
UPC BROADBAND IR 3633179Z ID -295261091 748962719.5
WATERFORD - RTS 508523Q LN -505729895.2 820803256
WATERFORD - RTS WWWA ID -505729895.2 820803256
WATERFORD - RTS WWWA GR -505729895.2 820803256
WATERFORD - RTS WWWB GR -505729895.2 820803256
WATERFORD - RTS WWWB ID -505729895.2 820803256
WATERFORD - RTS 508519Q LN -505729895.2 820803256
WATERFORD CRYSTA 4459209Z ID -150440252.3 114111756.9
WATERFORD W-ADR WATWY US -505729895.2 820803256
WATERFORD WDGEWD WATFF US -505729895.2 820803256
WATERFORD WDGEWD WATWF US -505729895.2 820803256
WATERFORD WED-RT WWWD GR -505729895.2 820803256
WATERFORD WED-RT 586552Q LN -505729895.2 820803256
WATERFORD WED-RT WTFR LN -505729895.2 820803256
WATERFORD WED-RT WWWD ID -505729895.2 820803256
WATERFORD WED-RT WWWC ID -505729895.2 820803256
WATERFORD WED-RT WWWC GR -505729895.2 820803256
WATERFORD WED-RT 586556Q LN -505729895.2 820803256
WATERFORD WED-UT WWW PO -505729895.2 820803256
WATERFORD WED-UT WTFU LN -505729895.2 820803256
WATERFORD WED-UT WTFU PO -505729895.2 820803256
WATERFORD WED-UT WTFU EU -505729895.2 820803256
WATERFORD WED-UT WTFU EO -505729895.2 820803256
WATERFORD WED-UT WWWD PZ -505729895.2 820803256
WATERFORD WED-UT WWW GR -505729895.2 820803256
WATERFORD WED-UT WTFU VX -505729895.2 820803256
WATERFORD WED-UT WTFUGBX EU -505729895.2 820803256
WATERFORD WED-UT WTFUGBX EO -505729895.2 820803256
WATERFORD WED-UT WTFU IX -505729895.2 820803256
WATERFORD WED-UT WTFU ID -505729895.2 820803256
WATERFORD WE-RTS WTFF ID -505729895.2 820803256
WATERFORD WE-RTS WTFF LN -505729895.2 820803256
WATERFORD WE-RTS WTFN LN -505729895.2 820803256
WATERFORD WE-RTS WTFN VX -505729895.2 820803256
WATERFORD WE-RTS WTFN ID -505729895.2 820803256
WATERFORD-ADR UT WATFZ US -505729895.2 820803256
WATERFORD-ADR UT WFWA GR -505729895.2 820803256
WATERFORD-SUB 3001875Z ID -505729895.2 820803256
WOLSELEY IRELAND 3898706Z ID -47443431.51 175225926.3
ITALY
-----
ALCOA TRASFORMAZ 4506523Z IM -200396353.5 504699192.2
AS ROMA SPA ASR IX -37429933.27 183644985.3
AS ROMA SPA ASR PZ -37429933.27 183644985.3
AS ROMA SPA ASR EO -37429933.27 183644985.3
AS ROMA SPA ASR TQ -37429933.27 183644985.3
AS ROMA SPA ASRAF US -37429933.27 183644985.3
AS ROMA SPA ASRO IX -37429933.27 183644985.3
AS ROMA SPA ASR EB -37429933.27 183644985.3
AS ROMA SPA ASR IM -37429933.27 183644985.3
AS ROMA SPA ASR QM -37429933.27 183644985.3
AS ROMA SPA ASR EU -37429933.27 183644985.3
AS ROMA SPA ASR BQ -37429933.27 183644985.3
AS ROMA SPA RO9 GR -37429933.27 183644985.3
AS ROMA SPA-RTS ASRAA IM -37429933.27 183644985.3
AUTOMOTIVE LIGHT 3895734Z IM -8797909.782 165588007.5
BIANCHI VENDING 764212Z IM -27419598.89 118828596.1
CABLELETTRA SPA 4507547Z IM -83494555.41 223468834.1
CANTIERI DI PISA 4313125Z IM -2611908.154 105466953.7
CANTIERI NAVALI 4427873Z IM -26985562.28 101874594.4
CIRIO FINANZIARI CRO IM -422095936.7 1583083044
CIRIO FINANZIARI FIY GR -422095936.7 1583083044
COIN SPA GUCIF US -154057598.5 800526929.5
COIN SPA 965089Q GR -154057598.5 800526929.5
COIN SPA GC IX -154057598.5 800526929.5
COIN SPA/OLD GC IM -154057598.5 800526929.5
COIN SPA-RTS GCAA IM -154057598.5 800526929.5
COMPAGNIA ITALIA CITU IX -137726596.3 527372691.4
COMPAGNIA ITALIA CGLUF US -137726596.3 527372691.4
COMPAGNIA ITALIA ICT IM -137726596.3 527372691.4
CONBIPEL SPA 2241259Z IM -8880034.854 222164742.3
CREDITO FONDIARI CRF IM -200209050.3 4213063202
CREDITO FOND-RTS CRFSA IM -200209050.3 4213063202
DEGI FRANCIACORT 4360437Z IM -471251.996 253375581.9
DIMA COSTRUZIONI 4526911Z IM -14681477.1 426157772.4
DIMAFIN SPA 2727163Z IM -63237953.95 270856564.4
ELETTRA PRODUZIO 3995020Z IM -2325645.288 227506350
EQUIPOLYMERS SRL 4224221Z IM -77501046.37 227622587.6
EUROFLY SPA EEZ IX -30409445.9 416708236.2
EUROFLY SPA -RTS EEZAXA IM -30409445.9 416708236.2
EUROFLY SPA-RTS EURAXA IM -30409445.9 416708236.2
FC INTERNAZIONAL 1185Z IM -10874536.45 713790943.1
FINMATICA SPA FIT GR -126380828.5 281244456.3
FINMATICA SPA FIN IM -126380828.5 281244456.3
FINMATICA SPA FIN NM -126380828.5 281244456.3
FINMATICA SPA FMTAF US -126380828.5 281244456.3
FORUM GRAN SASSO 4032509Z IM -5954613.651 163924566.4
FUNIVIE FOLGARID 4325137Z IM -3839728.226 199413338.6
GRUPPO FINI SPA 4514671Z IM -1791897.636 101060963.7
GUERRINO PIVATO 4292565Z IM -41218066.44 397216267.9
I VIAGGI DEL VEN VVE IM -209436890.3 202705179.9
I VIAGGI DEL VEN VVE PZ -209436890.3 202705179.9
I VIAGGI DEL VEN IVGIF US -209436890.3 202705179.9
I VIAGGI DEL VEN VVE IX -209436890.3 202705179.9
I VIAGGI DEL VEN VVE TQ -209436890.3 202705179.9
I VIAGGI DEL VEN VVE EU -209436890.3 202705179.9
I VIAGGI DEL VEN VVE EO -209436890.3 202705179.9
I VIAGGI DEL VEN IV7 GR -209436890.3 202705179.9
I VIAGGI-RTS VVEAA IM -209436890.3 202705179.9
INDUSTRIE FINCUO 4270053Z IM -15676157.12 111118283.9
INTERSIDER ACCIA 4268893Z IM -5355062.509 156885353.6
INTRALOT ITALIA 2884343Z IM -2665603.223 118040362.9
IP MAESTRALE 4 S 4407001Z IM -1364553.628 613867867.9
KERSELF KERS IX -42106279.58 830980118.2
KERSELF SPA 3533882Z IM -42106279.58 830980118.2
KERSELF SPA KRSI PZ -42106279.58 830980118.2
KERSELF SPA KRS EO -42106279.58 830980118.2
KERSELF SPA KRS EU -42106279.58 830980118.2
KERSELF SPA KRS TQ -42106279.58 830980118.2
KERSELF SPA KRS IM -42106279.58 830980118.2
KERSELF-RT KRSAA IM -42106279.58 830980118.2
KERSELF-RTS KERSAA IM -42106279.58 830980118.2
KERSELF-RTS KRSRI IX -42106279.58 830980118.2
MAC METALLURGICA 4290637Z IM -13970053.88 192912284.9
MERIDIANA FLY EEZ PZ -30409445.9 416708236.2
MERIDIANA FLY MEF EB -30409445.9 416708236.2
MERIDIANA FLY MEF IX -30409445.9 416708236.2
MERIDIANA FLY EEZ IM -30409445.9 416708236.2
MERIDIANA FLY MEF IM -30409445.9 416708236.2
MERIDIANA FLY EEZ EO -30409445.9 416708236.2
MERIDIANA FLY EEZ EU -30409445.9 416708236.2
MERIDIANA FLY EEZ TQ -30409445.9 416708236.2
MERIDIANA FLY EEZ QM -30409445.9 416708236.2
MERIDIANA FLY MEF BQ -30409445.9 416708236.2
MERIDIANA FLY EFLYF US -30409445.9 416708236.2
MERIDIANA FLY E7N GR -30409445.9 416708236.2
MERIDIANA FLY SP MEFAXA IM -30409445.9 416708236.2
MERIDIANA SPA 1163Z IM -4645217.834 187285866.9
MONTE MARE GRADO 4359985Z IM -535776.0315 100534744.7
MV AGUSTA MOTOR 3898906Z IM -10856011.42 258767112.5
NEXANS ITALIA SP 3636695Z IM -19973174.81 139448244.4
OCV ITALIA SRL 4455649Z IM -7833657.759 212272084.3
OLCESE SPA O IM -12846689.89 179691572.8
OLCESE SPA-RTS OAA IM -12846689.89 179691572.8
OLCESE VENEZIANO OLVE IM -12846689.89 179691572.8
OMNIA SERVICE CE 3401139Z IM -9159816.788 165737571.5
PARMALAT FINANZI PMLFF US -18419396969 4120687886
PARMALAT FINANZI PAF GR -18419396969 4120687886
PARMALAT FINANZI PARAF US -18419396969 4120687886
PARMALAT FINANZI FICN AV -18419396969 4120687886
PARMALAT FINANZI PRFI VX -18419396969 4120687886
PARMALAT FINANZI PMT LI -18419396969 4120687886
PARMALAT FINANZI PRF IM -18419396969 4120687886
PARMALAT FINA-RT PRFR AV -18419396969 4120687886
PLASTIC COMPONEN 4489891Z IM -4874668.899 477291693.5
REGGIANE CRANES 4428649Z IM -56111781.34 352789095.4
SANTA CROCE 2010 3994268Z IM -4287041.203 120271258.3
SD SICILIA DISCO 4346005Z IM -57205.25336 162107130.8
SNIA BPD SN GR -141933895.2 150445252.4
SNIA BPD-ADR SBPDY US -141933895.2 150445252.4
SNIA SPA SNIA GR -141933895.2 150445252.4
SNIA SPA SN IM -141933895.2 150445252.4
SNIA SPA SNIXF US -141933895.2 150445252.4
SNIA SPA SN EU -141933895.2 150445252.4
SNIA SPA SIAI IX -141933895.2 150445252.4
SNIA SPA SNIB GR -141933895.2 150445252.4
SNIA SPA SN TQ -141933895.2 150445252.4
SNIA SPA SIAI PZ -141933895.2 150445252.4
SNIA SPA SN EO -141933895.2 150445252.4
SNIA SPA SSMLF US -141933895.2 150445252.4
SNIA SPA SBPDF US -141933895.2 150445252.4
SNIA SPA - RTS SNAAW IM -141933895.2 150445252.4
SNIA SPA- RTS SNAXW IM -141933895.2 150445252.4
SNIA SPA-2003 SH SN03 IM -141933895.2 150445252.4
SNIA SPA-CONV SA SPBDF US -141933895.2 150445252.4
SNIA SPA-DRC SNR00 IM -141933895.2 150445252.4
SNIA SPA-NEW SN00 IM -141933895.2 150445252.4
SNIA SPA-NON CON SPBNF US -141933895.2 150445252.4
SNIA SPA-RCV SNIVF US -141933895.2 150445252.4
SNIA SPA-RCV SNR IM -141933895.2 150445252.4
SNIA SPA-RIGHTS SNAW IM -141933895.2 150445252.4
SNIA SPA-RNC SNIWF US -141933895.2 150445252.4
SNIA SPA-RNC SNRNC IM -141933895.2 150445252.4
SNIA SPA-RTS SNAA IM -141933895.2 150445252.4
SNIA SPA-RTS SNSO IM -141933895.2 150445252.4
SVILUPPO COMPART 3895994Z IM -3410478.946 384012735.9
TECNODIFF ITALIA TDIFF US -89894162.82 152045757.5
TECNODIFF ITALIA TEF GR -89894162.82 152045757.5
TECNODIFF ITALIA TDI IM -89894162.82 152045757.5
TECNODIFF ITALIA TDI NM -89894162.82 152045757.5
TECNODIFF-RTS TDIAOW NM -89894162.82 152045757.5
TECNODIFFUSIONE TDIAAW IM -89894162.82 152045757.5
TEREX ITALIA SRL 4514535Z IM -65352037.06 187112594.8
TISCALI - RTS TISAAW IM -158576909.6 500626222.7
TISCALI - RTS TIQA GR -158576909.6 500626222.7
TISCALI SPA TISGBX EO -158576909.6 500626222.7
TISCALI SPA TISGBP EO -158576909.6 500626222.7
TISCALI SPA TIS EO -158576909.6 500626222.7
TISCALI SPA TISN NA -158576909.6 500626222.7
TISCALI SPA TIQ1 GR -158576909.6 500626222.7
TISCALI SPA TIS EB -158576909.6 500626222.7
TISCALI SPA TISM IX -158576909.6 500626222.7
TISCALI SPA TISN IX -158576909.6 500626222.7
TISCALI SPA TIS IM -158576909.6 500626222.7
TISCALI SPA TSCXF US -158576909.6 500626222.7
TISCALI SPA TISN VX -158576909.6 500626222.7
TISCALI SPA TISN IM -158576909.6 500626222.7
TISCALI SPA TIQG IX -158576909.6 500626222.7
TISCALI SPA TIS IX -158576909.6 500626222.7
TISCALI SPA TIS NA -158576909.6 500626222.7
TISCALI SPA TIS QM -158576909.6 500626222.7
TISCALI SPA TIS BQ -158576909.6 500626222.7
TISCALI SPA TISN FP -158576909.6 500626222.7
TISCALI SPA TIS NQ -158576909.6 500626222.7
TISCALI SPA TIS VX -158576909.6 500626222.7
TISCALI SPA TIS TQ -158576909.6 500626222.7
TISCALI SPA TIS PZ -158576909.6 500626222.7
TISCALI SPA TIQ GR -158576909.6 500626222.7
TISCALI SPA TIS NR -158576909.6 500626222.7
TISCALI SPA TISGBX EU -158576909.6 500626222.7
TISCALI SPA TIS FP -158576909.6 500626222.7
TISCALI SPA TIS EU -158576909.6 500626222.7
TISCALI SPA- RTS 3391621Q GR -158576909.6 500626222.7
TISCALI SPA- RTS TISAXA IM -158576909.6 500626222.7
UPIM SRL 3494031Z IM -24945031.42 495566337.9
VALEO SPA 3897442Z IM -55996.80114 165209720.2
VIA CAVOUR SRL 3997892Z IM -2002622.441 173628397.1
LUXEMBOURG
----------
ARCELORMITTAL FL 3912244Z LX -1024313669 3328008487
CARRIER1 INT-AD+ CONE ES -94729000 472360992
CARRIER1 INT-ADR CONEQ US -94729000 472360992
CARRIER1 INT-ADR CONEE US -94729000 472360992
CARRIER1 INT-ADR CONE US -94729000 472360992
CARRIER1 INTL CJNA GR -94729000 472360992
CARRIER1 INTL 8133893Q GR -94729000 472360992
CARRIER1 INTL CJN NM -94729000 472360992
CARRIER1 INTL SA CONEF US -94729000 472360992
CARRIER1 INTL SA 1253Z SW -94729000 472360992
INTELSAT ILMA GR -697038976 17592367104
INTELSAT SA 2237Z US -697038976 17592367104
OXEA SARL 3682535Z LX -78371220.13 1013737294
OXEA SARL 3682535Z GR -78371220.13 1013737294
NETHERLANDS
-----------
ADAMAR AMSTERDAM 4049157Z NA -5256671.097 108813893.8
ALFRED C TOEPFER 4062117Z NA -1843317.436 1689194175
ASITO DIENSTENGR 743813Z NA -2494804.851 220704023.7
BAAN CO NV-ASSEN BAANA NA -7854715.264 609871188.9
BAAN COMPANY NV BAAN EU -7854715.264 609871188.9
BAAN COMPANY NV BNCG IX -7854715.264 609871188.9
BAAN COMPANY NV BAAVF US -7854715.264 609871188.9
BAAN COMPANY NV BAAN IX -7854715.264 609871188.9
BAAN COMPANY NV BAAN NA -7854715.264 609871188.9
BAAN COMPANY NV BAAN PZ -7854715.264 609871188.9
BAAN COMPANY NV BAAN GR -7854715.264 609871188.9
BAAN COMPANY NV BAAN EO -7854715.264 609871188.9
BAAN COMPANY-NY BAANF US -7854715.264 609871188.9
BASELL BENELUX B 4048469Z NA -49594551.15 221005725
BELEGGINGSMAATSC 801105Z NA -5070657.703 350267370.9
CENTRIC HOLDING 745383Z NA -72753.24225 363069870.7
CEVA GROUP PLC 976811Z NA -538665968.2 5318491121
CEVA LOGISTICS 882197Z NA -538665968.2 5318491121
CLATES HOLDING B 4043429Z NA -34881.25205 221495950.5
COENTUNNEL CO BV 3823892Z NA -42087507.72 316350701.9
COOPERATIE VOEDI 4378105Z NA -216576.9882 680962157.8
EON BENELUX LEVE 4173461Z NA -21561715.64 273422076.5
EUROCOMMERCE HOL 4174085Z NA -1476.315022 1442058655
EUROPEAN MARITIM 4523543Z NA -34803118.05 347300069.4
FERDINAND STINGE 4040837Z NA -197826.2129 1420319834
FONDEL METALS BV 4039013Z NA -2368075.248 110363800.6
HE INVESTMENTS B 3813216Z NA -1780665.857 195483088
HUISVUILCENTRALE 4777713Z NA -87789.23965 1412526184
INFOR GLOBAL SOL 4778481Z NA -332427172.9 500602423.6
ING RE DORTMUND/ 3819456Z NA -91900157.49 142290450.1
ING REIM DEVELOP 3811140Z NA -231041485.9 383323356.5
KONINKLIJKE HASK 4037221Z NA -69259.20141 230145390.9
KUIPER GROEP BV 3821988Z NA -3688.420875 101931401.5
LIBERTY GL EU-A UPC NA -5505478850 5112616630
LINO MANAGEMENT 3774416Z NA -302140891 797339200.3
MAAS INTERNATION 4174109Z NA -104625.6021 163961580.9
MITSUBISHI MOTOR 3893974Z NA -377506741.2 526604236.4
MSREF ELBA BV 4043045Z NA -89889.60183 584994172.5
MSREF VI KAIROS 4174205Z NA -38313.60078 893956511
NIDERA HANDELSCO 3893886Z NA -1347999.991 2303695933
NORFOLK HOLDINGS 779151Z NA -199512.5928 813430683.8
RHEIN PAPIER HOL 4040349Z NA -2301763.247 1089890804
RIVA NV 3797916Z NA -852952.1165 111411542.1
SGS NEDERLAND HO 3896746Z NA -742586.4558 148207265
SITA NEDERLAND B 874216Z NA -312079.8969 2324948031
SPYKER CARS NV SPYKR EB -154336469.5 1337361332
SPYKER CARS NV SPYKR NA -154336469.5 1337361332
SPYKER CARS NV SPYKR BQ -154336469.5 1337361332
SPYKER CARS NV SPYK IX -154336469.5 1337361332
SPYKER CARS NV SPYKR QM -154336469.5 1337361332
SPYKER CARS NV SPYKR EO -154336469.5 1337361332
SPYKER CARS NV SPYKR EU -154336469.5 1337361332
SPYKER CARS NV SPYKR TQ -154336469.5 1337361332
STICHTING PENSIO 4498027Z NA -19254451.13 566611058.3
STICHTING PENSIO 4489595Z NA -7065546415 43409019837
SWEDISH AUTOMOBI SWAN EU -154336469.5 1337361332
SWEDISH AUTOMOBI SWAN BQ -154336469.5 1337361332
SWEDISH AUTOMOBI SWAN TQ -154336469.5 1337361332
SWEDISH AUTOMOBI SWAN EO -154336469.5 1337361332
SWEDISH AUTOMOBI SWAN EB -154336469.5 1337361332
SWEDISH AUTOMOBI SPYKR PZ -154336469.5 1337361332
SWEDISH AUTOMOBI SWAN NA -154336469.5 1337361332
SWEDISH AUTOMOBI SWAN QM -154336469.5 1337361332
SWEDISH AUTOMOBI SPYKF US -154336469.5 1337361332
SWEDISH AUTOMOBI L9I TH -154336469.5 1337361332
SWEDISH AUTOMOBI L9I GR -154336469.5 1337361332
TATE & LYLE NETH 3634775Z NA -2595894.422 104534416.9
TOYOTA MATERIAL 4062173Z NA -525179.3964 103144175.2
TRAVELPORT GLOBA 4501611Z NA -3622780.496 320789835.8
UNITED PAN -ADR UPEA GR -5505478850 5112616630
UNITED PAN-A ADR UPCOY US -5505478850 5112616630
UNITED PAN-EUR-A UPC LI -5505478850 5112616630
UNITED PAN-EUR-A UPC LN -5505478850 5112616630
UNITED PAN-EUROP UPCOF US -5505478850 5112616630
UNITED PAN-EUROP UPCEF US -5505478850 5112616630
UNITED PAN-EUROP UPC VX -5505478850 5112616630
UNITED PAN-EUROP UPE1 GR -5505478850 5112616630
UPC HOLDING BV 3590264Z NA -12164702941 13901661309
VAN WEELDE BEHEE 4038885Z NA -165002.3062 161800258.3
VOLKERWESSELS BO 4062101Z NA -17683.20036 191596002.3
VWS TRANSPORTINF 4377249Z NA -88578.90129 442019063.5
VWS VERKEER-EN I 4777577Z NA -125486.7768 799874848.4
W2005 W2007 CARN 3824100Z NA -107841645.8 362615031
WE INTERNATIONAL 630199Z NA -1220350.163 1011026941
WILMAR EDIBLE OI 3817520Z NA -3976944.095 218912594.8
ZINVEST FASHION 3775412Z NA -296559.4047 180677208
ZWINGER OPCO 6 B 3821644Z NA -106543158.2 627759193.8
NORWAY
------
AFRICA OFFSHORE AOSA NO -238595008 399271008
AKER BIOMARINE A 4508947Z NO -91258656.74 103294723.7
AKER ELEKTRO AS 4389353Z NO -35218317.7 134077911.8
AKER FLOATING PR AKFP EO -7700000 816200000
AKER FLOATING PR AKFP BY -7700000 816200000
AKER FLOATING PR AKNO IX -7700000 816200000
AKER FLOATING PR AKFP NO -7700000 816200000
AKER FLOATING PR AKFP EU -7700000 816200000
AKER FLOATING PR AKFPEUR EU -7700000 816200000
AKER FLOATING PR AKFPEUR EO -7700000 816200000
AKER FLOATING PR AKFP PZ -7700000 816200000
AKER STORD A/S 4498875Z NO -150475117.7 783619889.1
BKK VARME AS 4445833Z NO -8164053.946 143462133.6
CIA LA GOMERA AS 4401057Z NO -14188999.46 111542577.2
GJENSIDIGE PENSJ 4447089Z NO -706038.7351 834496819.2
HEEGH AUTOLINERS 4389209Z NO -11654362.38 277390994.9
INTEROIL EXPLORA IOX BY -71383000 195320000
INTEROIL EXPLORA IOX NO -71383000 195320000
INTEROIL EXPLORA IROIF US -71383000 195320000
INTEROIL EXPLORA IOX EU -71383000 195320000
INTEROIL EXPLORA IOX PZ -71383000 195320000
INTEROIL EXPLORA IOXEUR EU -71383000 195320000
INTEROIL EXPLORA IOXUSD EO -71383000 195320000
INTEROIL EXPLORA IOX IX -71383000 195320000
INTEROIL EXPLORA IOXEUR EO -71383000 195320000
INTEROIL EXPLORA INOX NO -71383000 195320000
INTEROIL EXPLORA IOX EO -71383000 195320000
INTEROIL EXPLORA IOXUSD EU -71383000 195320000
LIVA BIL LIV NO -4061326.597 116023629.9
MAN LAST OG BUSS 4521719Z NO -7914946.127 134925818.8
MARINE SUBSEA AS MSAS NO -238595008 399271008
MASTER & COMMAND 4443393Z NO -3848.57586 105559612
NCC CONSTRUCTION 4389745Z NO -17444019.96 371204059.2
NCC ROADS AS 4401305Z NO -7603911.224 151509155.9
NORGIPS NORGE AS 4443889Z NO -4188300.148 124517344
NORSK STEIN AS 4394889Z NO -2509971.202 184248999.1
OSLO FORSIKRING 4415089Z NO -6494996.57 158542606
PETRO GEO-SERV PGS VX -18066142.21 399710323.6
PETRO GEO-SERV 265143Q NO -18066142.21 399710323.6
PETRO GEO-SERV PGS GR -18066142.21 399710323.6
PETRO GEO-SERV-N PGSN NO -18066142.21 399710323.6
PETRO GEO-SV-ADR PGSA GR -18066142.21 399710323.6
PETRO GEO-SV-ADR PGOGY US -18066142.21 399710323.6
PETROJACK AS JACKEUR EO -54932000 191586000
PETROJACK AS JACK BY -54932000 191586000
PETROJACK AS JACK EU -54932000 191586000
PETROJACK AS P3J GR -54932000 191586000
PETROJACK AS JACK EO -54932000 191586000
PETROJACK AS JACO IX -54932000 191586000
PETROJACK AS JACK PZ -54932000 191586000
PETROJACK AS JACK NO -54932000 191586000
PETROJACK AS JACKEUR EU -54932000 191586000
PETROJACK AS POJKF US -54932000 191586000
PETROMENA AS PMEN IX -47299000 317747008
PETROMENA AS PMENA NO -47299000 317747008
PETROMENA AS PMENA EU -47299000 317747008
PETROMENA AS PR2 GR -47299000 317747008
PETROMENA AS MENA NO -47299000 317747008
PETROMENA AS PMENA PZ -47299000 317747008
PETROMENA AS PMENA EO -47299000 317747008
PETROMENA AS PMENAEUR EO -47299000 317747008
PETROMENA AS PMENF US -47299000 317747008
PETROMENA AS PMENAEUR EU -47299000 317747008
SECURITAS DIRECT 4394201Z NO -531628.2745 124746344.1
SKRETTING AS 4473771Z NO -3730844.426 499611269.4
STOREBRAND EIEND 4443409Z NO -69476764.19 1408585975
STOREBRAND EIEND 4288341Z NO -236066034.1 4427606061
TDC AS 4287413Z NO -95917885.43 128911202.9
TRICO SHIPPING A 3651167Z NO -132576808.1 504945402.2
TTS SENSE AS 4393841Z NO -30849484.35 107503145.6
UTKILEN SHIPPING 4446161Z NO -2435448.778 205148159.9
VNG NORGE AS 4513147Z NO -44725176.15 280935536.1
POLAND
------
KROSNO KROS IX -2241615.44 111838141.2
KROSNO KRS PW -2241615.44 111838141.2
KROSNO KRS1EUR EU -2241615.44 111838141.2
KROSNO KRS1EUR EO -2241615.44 111838141.2
KROSNO KRS LI -2241615.44 111838141.2
KROSNO SA KRS PZ -2241615.44 111838141.2
KROSNO SA KROSNO PW -2241615.44 111838141.2
KROSNO SA KRS1 EU -2241615.44 111838141.2
KROSNO SA KRNFF US -2241615.44 111838141.2
KROSNO SA KRS1 EO -2241615.44 111838141.2
KROSNO SA-RTS KRSP PW -2241615.44 111838141.2
KROSNO-PDA-ALLT KRSA PW -2241615.44 111838141.2
TOORA 2916661Q EO -288818.3897 147004954.2
TOORA 2916665Q EU -288818.3897 147004954.2
TOORA TOR PZ -288818.3897 147004954.2
TOORA TOR PW -288818.3897 147004954.2
TOORA-ALLOT CERT TORA PW -288818.3897 147004954.2
PORTUGAL
--------
AGUAS DO ZEZERE 3646223Z PL -9497007.861 387261027.5
ALBERTO MARTINS 4488947Z PL -26137998.21 126979395.5
CENTRO HOSPITALA 3778196Z PL -63194407.2 123417394.8
CO DAS ENERGIAS 3794880Z PL -2540034.474 115717930.4
CP - COMBOIOS DE 1005Z PL -3201667702 2260472073
ESTALEIROS NAVAI 4507307Z PL -23829401.88 315386385.8
FERREIRAS & MAGA 4281437Z PL -14115717.84 103226790.2
GALERIA PARQUE N 4772673Z PL -6221557.01 176869350.5
HOSPITAL DE FARO 3789880Z PL -59945072.08 249069905.8
HOSPITAL DO DIVI 3789932Z PL -38574192.3 217870602.5
HOSPITAL GARCIA 3773160Z PL -48058398.4 155137981.5
LOCACAO DE EQUIP 4772329Z PL -1031872.211 425561447.8
LYCATELCOM LDA 4281821Z PL -8577510.562 109410577.8
METRO DO PORTO 4473963Z PL -1539365046 3027538897
PARQUE DA PAMPIL 4770625Z PL -1932626.439 135631078.1
PARQUE EOLICO DE 4772521Z PL -1450277.362 131706562.9
PORTUGALIA 1008Z PL -4086512.545 263103585.3
RADIO E TELEVISA 1227Z PL -874020727.2 739530129.4
REFER-REDE FERRO 1250Z PL -1817222591 941624235.3
SERVICO DE SAUDE 3790200Z PL -171447869.9 656234458.2
SOCIEDADE DE REN 3776676Z PL -16609193.89 127876798.7
SOCIEDADE DE TRA 1253Z PL -366661049.9 152577542.7
SPORTING CLUBE D SCDF EU -65884328.13 251276323.4
SPORTING CLUBE D SCG GR -65884328.13 251276323.4
SPORTING CLUBE D SCP PL -65884328.13 251276323.4
SPORTING CLUBE D SCP1 PZ -65884328.13 251276323.4
SPORTING CLUBE D SCPX PX -65884328.13 251276323.4
SPORTING CLUBE D SCDF EO -65884328.13 251276323.4
SPORTING-SOC DES SCDF PL -65884328.13 251276323.4
SPORTING-SOC DES SCPL IX -65884328.13 251276323.4
SPORTING-SOC-RTS SCPVS PL -65884328.13 251276323.4
SPORTING-SOC-RTS SCPDS PL -65884328.13 251276323.4
TAP SGPS TAP PL -293253615.6 2901200999
VALE DO LOBO - R 4764257Z PL -19458755.77 553819869.1
VISTA ALEGRE ATL 4281717Z PL -11415079.06 119980938.8
ROMANIA
-------
ARCELORMITTAL PTRO RO -61080024.91 178667412.9
OLTCHIM RM VALCE OLTCF US -89344240.83 511515508.8
OLTCHIM SA RM VA OLT RO -89344240.83 511515508.8
OLTCHIM SA RM VA OLT PZ -89344240.83 511515508.8
OLTCHIM SA RM VA OLTEUR EO -89344240.83 511515508.8
OLTCHIM SA RM VA OLT EU -89344240.83 511515508.8
OLTCHIM SA RM VA OLTEUR EU -89344240.83 511515508.8
OLTCHIM SA RM VA OLT EO -89344240.83 511515508.8
RAFO SA RAF RO -457922310.7 356796459.3
RUSSIA
------
AKCIONERNOE-BRD SOVP$ RU -72210975.94 456200360.2
ALLIANCE RUSSIAN ALRT RU -13189410.9 138268688.3
AMO ZIL ZILL RM -204894835.3 401284636
AMO ZIL-CLS ZILL RU -204894835.3 401284636
AMO ZIL-CLS ZILL* RU -204894835.3 401284636
AMO ZIL-CLS ZILLG RU -204894835.3 401284636
CRYOGENMASH-BRD KRGM* RU -22826263.97 214573431.2
CRYOGENMASH-BRD KRGM RU -22826263.97 214573431.2
CRYOGENMASH-PFD KRGMP* RU -22826263.97 214573431.2
CRYOGENMASH-PFD KRGMP RU -22826263.97 214573431.2
DAGESTAN ENERGY DASBG RU -29561959.6 232757864.4
DAGESTAN ENERGY DASB RM -29561959.6 232757864.4
DAGESTAN ENERGY DASB RU -29561959.6 232757864.4
DAGESTAN ENERGY DASB* RU -29561959.6 232757864.4
EAST-SIBERIA-BRD VSNK* RU -92283895.48 299864149.8
EAST-SIBERIA-BRD VSNK RU -92283895.48 299864149.8
EAST-SIBERIAN-BD VSNK$ RU -92283895.48 299864149.8
FINANCIAL LEASIN 137282Z RU -127155421.5 341759794.6
FINANCIAL LEASIN FLKO RU -127155421.5 341759794.6
FINANCIAL LEASIN FLKO* RU -127155421.5 341759794.6
FINANCIAL LEASIN FLKO RM -127155421.5 341759794.6
GAZ-FINANS GAZF RU -56134.51262 232319905.4
GUKOVUGOL GUUG RU -57835249.92 143665227.2
GUKOVUGOL GUUG* RU -57835249.92 143665227.2
GUKOVUGOL-PFD GUUGP RU -57835249.92 143665227.2
GUKOVUGOL-PFD GUUGP* RU -57835249.92 143665227.2
HALS-DEVEL- GDR 86PN LI -588515968 1446112000
HALS-DEVELOPMENT HALS TQ -588515968 1446112000
HALS-DEVELOPMENT SYR GR -588515968 1446112000
HALS-DEVELOPMENT HALS* RU -588515968 1446112000
HALS-DEVELOPMENT HALS LI -588515968 1446112000
HALS-DEVELOPMENT HALS RU -588515968 1446112000
HALS-DEVELOPMENT HALS RM -588515968 1446112000
HALS-DEVELOPMENT HALSM RU -588515968 1446112000
HALS-DEVELOPMENT HALSG RU -588515968 1446112000
IZHAVTO OAO IZAV RU -94100833.99 443610329.4
KAMSKAYA GORNAYA 2806239Z RU -527803788.8 1311868884
KOMPANIYA GL-BRD GMST RU -2412499.797 1202818434
KOMPANIYA GL-BRD GMST* RU -2412499.797 1202818434
KUZNETSOV-BRD MTSTP RU -11247039.53 390269032.2
KUZNETSOV-BRD MTSTP* RU -11247039.53 390269032.2
KUZNETSOV-BRD MTST* RU -11247039.53 390269032.2
KUZNETSOV-BRD MTST RU -11247039.53 390269032.2
M-INDUSTRIYA SOMI RU -1304109.982 267288804.8
MURMANSKAYA-PFD MUGSP RU -26491726.33 140103923.5
MURMANSKAYA-PFD MUGSPG RU -26491726.33 140103923.5
MURMANSKAYA-PFD MUGSP* RU -26491726.33 140103923.5
MURMANSKAY-CLS MUGS* RU -26491726.33 140103923.5
MURMANSKAY-CLS MUGSG RU -26491726.33 140103923.5
MURMANSKAY-CLS MUGS RU -26491726.33 140103923.5
NIZHEGORODSK-BRD NASO RU -24264468.23 426748912.4
NIZHEGORODSK-BRD NASO* RU -24264468.23 426748912.4
NIZHEGORODSKI-B NASO$ RU -24264468.23 426748912.4
NIZHEGORODS-P B$ NASOP$ RU -24264468.23 426748912.4
NIZHEGORODS-PFD NASOP RU -24264468.23 426748912.4
NIZHEGORODS-PFD NASOP* RU -24264468.23 426748912.4
NIZHMASHZAVO-BRD NMSZ* RU -11553901.84 372915429.4
NIZHMASHZAVO-BRD NMSZ RU -11553901.84 372915429.4
NIZHMASHZAVOD-BD NMSZ$ RU -11553901.84 372915429.4
NIZHMASHZAVO-PFD NMSZP* RU -11553901.84 372915429.4
NIZHMASHZAVO-PFD NMSZP RU -11553901.84 372915429.4
OAO SIBNEFTEGAZ SIGA RU -8733178.141 757597617.2
PENOPLEX-FINANS PNPF RU -839659.3715 147052027.7
PIK GROUP PIKK RU -65334860.95 4000687446
PIK GROUP PIKK* RU -65334860.95 4000687446
PIK GROUP PIKKG RU -65334860.95 4000687446
PIK GROUP PIKK RM -65334860.95 4000687446
PIK GROUP-GDR PIQ2 GR -65334860.95 4000687446
PIK GROUP-GDR PIK EU -65334860.95 4000687446
PIK GROUP-GDR PIK1 QM -65334860.95 4000687446
PIK GROUP-GDR PIK1 EO -65334860.95 4000687446
PIK GROUP-GDR PIK LI -65334860.95 4000687446
PIK GROUP-GDR PIK EB -65334860.95 4000687446
PIK GROUP-GDR PIK TQ -65334860.95 4000687446
PIK GROUP-GDR PKGPL US -65334860.95 4000687446
PIK GROUP-GDR PIK IX -65334860.95 4000687446
PROMTRACTOR-FINA PTRF RU -27519567.06 259128529.5
RUSSIAN TEXT-CLS ALRTG RU -13189410.9 138268688.3
RUSSIAN TEXT-CLS ALRT* RU -13189410.9 138268688.3
RYBINSKKABEL RBKZD RU -8532245.618 108539181.3
SEVERNAYA KAZNA SVKB RU -53030865.11 292154903.1
SEVERNAYA KAZNA SVKB* RU -53030865.11 292154903.1
SEVKABEL-FINANS SVKF RU -83036.46173 102680373.6
SISTEMA HALS-GDR HALS IX -588515968 1446112000
SISTEMA-GDR 144A SEMAL US -588515968 1446112000
URGALUGOL-BRD YRGL* RU -10942680.75 149416034.2
URGALUGOL-BRD YRGL RU -10942680.75 149416034.2
URGALUGOL-BRD-PF YRGLP RU -10942680.75 149416034.2
VACO-BRD VASO RU -27108676.04 934073954.9
VACO-BRD VASO* RU -27108676.04 934073954.9
VACO-PFD VASOP RU -27108676.04 934073954.9
VACO-PFD VASOP* RU -27108676.04 934073954.9
VASO 1001Q RU -27108676.04 934073954.9
VASO-$ 1002Q RU -27108676.04 934073954.9
VASO-$PFD BRD VASOP$ RU -27108676.04 934073954.9
VASO-Q LIST VASO$ RU -27108676.04 934073954.9
VIMPEL SHIP-BRD SOVP RU -72210975.94 456200360.2
VIMPEL SHIP-BRD SOVP* RU -72210975.94 456200360.2
VOLGOGRAD KHIM VHIM* RU -46674128.45 156690406.4
VOLGOGRAD KHIM VHIM RU -46674128.45 156690406.4
WILD ORCHID ZAO DOAAN RU -11716087.47 106082784.6
ZIL AUTO PLANT ZILL$ RU -204894835.3 401284636
ZIL AUTO PLANT-P ZILLP RU -204894835.3 401284636
ZIL AUTO PLANT-P ZILLP RM -204894835.3 401284636
ZIL AUTO PLANT-P ZILLP* RU -204894835.3 401284636
SERBIA
------
DUVANSKA DIVR SG -46938765.41 107525048.4
SLOVENIA
--------
ISTRABENZ ITBG PZ -3710053.919 1192276746
ISTRABENZ ITBG SV -3710053.919 1192276746
ISTRABENZ ITBG EO -3710053.919 1192276746
ISTRABENZ ITBG EU -3710053.919 1192276746
SPAIN
-----
ACTUACIONES ACTI AGR SM -57871829.5 772519224.5
ADT ESPANA SERVI 3632899Z SM -26498520.4 149454497.1
AGRUPACIO - RT AGR/D SM -57871829.5 772519224.5
AMCI HABITAT SA AMC3 EO -24580874.45 194758143.4
AMCI HABITAT SA AMC SM -24580874.45 194758143.4
AMCI HABITAT SA AMC1 EU -24580874.45 194758143.4
ATLANTIC COPPER 4512291Z SM -15995873.26 1016941910
AURIGACROWN CAR 3791672Z SM -9696329.512 319009666.2
BASF CONSTRUCTIO 4511259Z SM -175550365.3 296395765.4
BIMBO SA 3632779Z SM -6894386.116 162399487.1
BOSCH SISTEMAS D 4505475Z SM -295419977.8 205556877.2
BOUYGUES INMOBIL 3636247Z SM -13608696.28 203210905.9
CAIXARENTING SA 4500211Z SM -7390432.998 1722091946
CAJA DE AHORROS 929362Z SM -361326816.2 37311046644
CELAYA EMPARANZA 3642467Z SM -19428468.87 176340504.9
COPERFIL GROUP 704457Z SM -3700858.975 403826723
DTZ IBERICA ASES 1658Z SM -130770583.4 611187363
ELECTRODOMESTICO 1035184Z SM -89882980.98 104386627.5
EXPO-AN SA 569882Z SM -14692346.37 324154549.3
FABRICAS AGRUPAD 3638319Z SM -28683704.97 205880655
FACTORIA NAVAL D 3748456Z SM -91596638.83 155617881.8
FBEX PROMO INMOB 3745024Z SM -820001.0305 1142937522
FERGO AISA -RTS AISA/D SM -57871829.5 772519224.5
FERGO AISA SA AISA PZ -57871829.5 772519224.5
FERGO AISA SA AISA EU -57871829.5 772519224.5
FERGO AISA SA AISA SM -57871829.5 772519224.5
FERGO AISA SA AISA EO -57871829.5 772519224.5
FIAT GROUP AUTOM 4511067Z SM -30064519.13 367730368.2
FMC FORET SA 3642299Z SM -28605523.78 225458069.6
GALERIAS PRIMERO 3281527Z SM -2731015.072 124875853.4
GE POWER CONTROL 3744144Z SM -25412232.52 973735754.8
GE REAL ESTATE I 2814684Z SM -47072259.92 609515984.5
GENERAL MOTORS E 4286805Z SM -323089753.8 2783002632
GLENCORE ESPANA 3752336Z SM -24493084.81 140668008
HIDROCANTABRICO 4456745Z SM -245397523.6 513745817
HUNE PLATAFORMAS 4284309Z SM -34729576.87 417379212.5
ISOFOTON SA 1039291Z SM -401482382 218392769.3
JAZZ TELECOM SA 3646927Z SM -739593798.9 803977667
LA SIRENA ALIMEN 4375737Z SM -60779557.1 206592562.2
LEVANTINA Y ASOC 993382Z SM -289550685.8 672488470.2
MAGNETI MARELLI 3643903Z SM -6218714.533 169480205.1
MARTINSA FADESA MTF1 LI -3883366101 6592778504
MARTINSA FADESA MFAD PZ -3883366101 6592778504
MARTINSA FADESA MTF EU -3883366101 6592778504
MARTINSA FADESA MTF SM -3883366101 6592778504
MARTINSA FADESA 4PU GR -3883366101 6592778504
MARTINSA FADESA MTF EO -3883366101 6592778504
MARTINSA-FADESA MTF NR -3883366101 6592778504
NYESA VALORES CO NYE TQ -99766729.91 812943907.9
NYESA VALORES CO NYE EU -99766729.91 812943907.9
NYESA VALORES CO BES SM -99766729.91 812943907.9
NYESA VALORES CO BESS PZ -99766729.91 812943907.9
NYESA VALORES CO 7NY GR -99766729.91 812943907.9
NYESA VALORES CO BES EU -99766729.91 812943907.9
NYESA VALORES CO BES TQ -99766729.91 812943907.9
NYESA VALORES CO NYE SM -99766729.91 812943907.9
NYESA VALORES CO BES EO -99766729.91 812943907.9
NYESA VALORES CO NYE EO -99766729.91 812943907.9
ORANGE CATALUNYA 4365565Z SM -25422547.72 113962331.9
PANRICO SL 1087Z SM -372238069.5 1219319614
PLANES E INVERSI 3795524Z SM -72863651.9 220131915.6
PULLMANTUR SA 301590Z SM -84915226.97 196732982.8
RANDSTAD EMPLEO 4285885Z SM -58273106.53 432173483.1
REAL ZARAGOZA SA 4285533Z SM -26642893.2 155342765.2
RENTA CORP REN1GBP EO -55365883.37 289916358.5
RENTA CORP RENS PZ -55365883.37 289916358.5
RENTA CORP REN1GBX EU -55365883.37 289916358.5
RENTA CORP REN1GBX EO -55365883.37 289916358.5
RENTA CORP REN1USD EO -55365883.37 289916358.5
RENTA CORP RTACF US -55365883.37 289916358.5
RENTA CORP REN1 EO -55365883.37 289916358.5
RENTA CORP REN1 EU -55365883.37 289916358.5
RENTA CORP REN1USD EU -55365883.37 289916358.5
RENTA CORP REN1 TQ -55365883.37 289916358.5
RENTA CORP REN SM -55365883.37 289916358.5
RENTA CORP REAL REN/D SM -55365883.37 289916358.5
REYAL URBIS SA REY1 EU -699015340.8 5992489048
REYAL URBIS SA REY SM -699015340.8 5992489048
REYAL URBIS SA REYU PZ -699015340.8 5992489048
REYAL URBIS SA REY1 EO -699015340.8 5992489048
SA DE SUPERMERCA 4373489Z SM -24370843.85 162576231.9
SIDERURGICA SEVI 3755616Z SM -6175305.125 255962721.9
SOGECABLE MEDIA 3638359Z SM -3018000.191 182987292.3
SPANAIR 1174Z SM -172531031.3 375809287.4
SUPERMERCADOS CH 3635999Z SM -49108101.19 430829438.2
SUPERMERCADOS CO 4285781Z SM -6271873.083 110251382.6
TELEVISION AUTON 3772924Z SM -148813632.8 119454851.8
TIP TRAILERS ESP 3804444Z SM -29242607.48 104149119.2
TROPICAL TURISTI 3639071Z SM -25374266.69 535701945
TYCO ELECTRONICS 2335265Z SM -143512076.6 258441853.6
UNITEC UNION TIE 3801344Z SM -23207409.48 131213302.5
VIA OPERADOR PET 4510507Z SM -22002322.05 129961207.4
VILLAVINAS SL 3790664Z SM -4071759.503 112727175.1
SWEDEN
------
ATTENDO AB 4452873Z SS -58148252.61 1244996834
CARLSBERG SVERIG 4008900Z SS -7398371.724 324772773.9
KAROLINEN FASTIG 4008644Z SS -906745.1282 122777361.3
PHADIA AB 842347Z SS -140406774.4 2127579095
SWEDISH MA-RE RT SWMASR SS -284909084.5 2094817513
SWEDISH MAT-ADR SWMA GR -284909084.5 2094817513
SWEDISH MAT-ADR 3053566Q US -284909084.5 2094817513
SWEDISH MATCH SWD LI -284909084.5 2094817513
SWEDISH MATCH AB SWMA PZ -284909084.5 2094817513
SWEDISH MATCH AB SWMAUSD EO -284909084.5 2094817513
SWEDISH MATCH AB SWMAEUR EO -284909084.5 2094817513
SWEDISH MATCH AB SWMA EO -284909084.5 2094817513
SWEDISH MATCH AB SWMA EU -284909084.5 2094817513
SWEDISH MATCH AB SWM VX -284909084.5 2094817513
SWEDISH MATCH AB SWMAEUR EU -284909084.5 2094817513
SWEDISH MATCH AB SWM TH -284909084.5 2094817513
SWEDISH MATCH AB SWMA NQ -284909084.5 2094817513
SWEDISH MATCH AB SWMA IX -284909084.5 2094817513
SWEDISH MATCH AB SWMAGBP EO -284909084.5 2094817513
SWEDISH MATCH AB SWMA BY -284909084.5 2094817513
SWEDISH MATCH AB SWMA NR -284909084.5 2094817513
SWEDISH MATCH AB SWMA QM -284909084.5 2094817513
SWEDISH MATCH AB SWMA S1 -284909084.5 2094817513
SWEDISH MATCH AB SWMA EB -284909084.5 2094817513
SWEDISH MATCH AB SWMA LI -284909084.5 2094817513
SWEDISH MATCH AB SWMAGBX EO -284909084.5 2094817513
SWEDISH MATCH AB SWM GR -284909084.5 2094817513
SWEDISH MATCH AB SWMAF US -284909084.5 2094817513
SWEDISH MATCH AB SWMAGBX EU -284909084.5 2094817513
SWEDISH MATCH AB SWMA SS -284909084.5 2094817513
SWEDISH MATCH AB SWMAUSD EU -284909084.5 2094817513
SWEDISH MATCH AB SWMA TQ -284909084.5 2094817513
SWEDISH MATCH AB SWMDF US -284909084.5 2094817513
SWEDISH MATCH AB SWMA GK -284909084.5 2094817513
SWEDISH MATCH- B SWMWF US -284909084.5 2094817513
SWEDISH MATCH-B 3033P US -284909084.5 2094817513
SWEDISH MAT-RTS SWMYR US -284909084.5 2094817513
SWEDISH M-UN ADR SWMAY US -284909084.5 2094817513
TURKEY
------
BESIKTAS FUTBOL BKTFF US -94748145.95 140991569.3
BESIKTAS FUTBOL BJKAS TI -94748145.95 140991569.3
BESIKTAS FUTBOL BJKASM TI -94748145.95 140991569.3
BESIKTAS FUTBOL BJKASY TI -94748145.95 140991569.3
BESIKTAS FUTBOL BWX GR -94748145.95 140991569.3
EGS EGE GIYIM VE EGDIS TI -7732135.103 147075077.7
EGS EGE GIYIM-RT EGDISR TI -7732135.103 147075077.7
GALATASARAY SPOR GATSF US -4380459.912 184132637.7
GALATASARAY SPOR GSRAY TI -4380459.912 184132637.7
GALATASARAY SPOR GSY GR -4380459.912 184132637.7
GALATASARAY SPOR GALA IX -4380459.912 184132637.7
GALATASARAY-NEW GSRAYY TI -4380459.912 184132637.7
IKTISAT FINAN-RT IKTFNR TI -46900666.64 108228233.6
IKTISAT FINANSAL IKTFN TI -46900666.64 108228233.6
KEREVITAS GIDA KVTGF US -2039534.235 117975034.3
KEREVITAS GIDA KERVT TI -2039534.235 117975034.3
MUDURNU TAVUKC-N MDRNUN TI -64935052.1 160420187.4
MUDURNU TAVUKCUL MDRNU TI -64935052.1 160420187.4
SIFAS SIFAS TI -15439194.7 130608104
TUTUNBANK TUT TI -4024959602 2643810457
YASARBANK YABNK TI -4024959602 2643810457
UKRAINE
-------
AZOVZAGALMASH MA AZGM UZ -75129759.84 474776539.2
CHERNIGIVS MAN-M CHIM UZ -8728378.486 105244397.8
CHERNIGIVS M-GDR CKU GR -8728378.486 105244397.8
DONETSKOBLENERGO DOON UZ -214112885.3 396954757.6
LUGANSKGAS LYGZ UZ -25247035.77 123851487
LUGANSKOBLENERGO LOEN UZ -28366834.81 198146239.7
MARIUP-GDR REG S M9X GR -11661586.28 260791838.5
MARIUP-GDR REG S MZVM IX -11661586.28 260791838.5
MARIUPOL HEAVY M MZVM UZ -11661586.28 260791838.5
NAFTOKHIMIK PRIC NAFP UZ -15635678.75 306266218
NAFTOKHIMIK-GDR N3ZA GR -15635678.75 306266218
ODESSA OIL REFIN ONPZ UZ -178447037.2 314744675.5
RIVNEAZOT RAZT UZ -27233614.57 417932243
ZALK - PFTS ZALK UZ -78409529.93 130383564.8
POLYUS GOLD INTE 653479Z UZ -88561000 241726000
KION GROUP GMBH 834769Z GR -534551768.5 7697629095
UNITED KINGDOM
--------------
3I PLC 2346795Z LN -40072013.14 518266360.4
600 UK LTD 1282018Z LN -731250.5356 123671540.8
ABBOTT MEAD VICK 648824Q LN -1685854.552 168258996.3
ABF GRAIN PRODUC 1276922Z LN -80622502.15 405377719.8
ACCIDENT EXCHANG 1927374L LN -33094543.84 273916447.7
ACE INA SERVICES 1442282Z LN -56846654.06 155841457.8
ACIS GROUP LTD 4159557Z LN -29529317.19 122639068.7
ACORN CARE AND E 1238567Z LN -70886168.8 120665053.6
ACROMAS HOLDINGS 3109266Z LN -2744136431 11102400350
ADVANCE DISPLAY ADTP PZ -2983757364 2562677211
AEA TECHNOLO-FPR AATF PZ -112607939 201762583.9
AEA TECHNOLO-FPR AATF LN -112607939 201762583.9
AEA TECHNOLOGY AAT PO -112607939 201762583.9
AEA TECHNOLOGY EAETF US -112607939 201762583.9
AEA TECHNOLOGY AAT VX -112607939 201762583.9
AEA TECHNOLOGY AAT IX -112607939 201762583.9
AEA TECHNOLOGY G AAT PZ -112607939 201762583.9
AEA TECHNOLOGY G 89A GR -112607939 201762583.9
AEA TECHNOLOGY G AAT EU -112607939 201762583.9
AEA TECHNOLOGY G AAT EO -112607939 201762583.9
AEA TECHNOLOGY G AAT LN -112607939 201762583.9
AEA TECHNOLOGY G AATGBP EO -112607939 201762583.9
AEA TECHNOLO-NPR AATN LN -112607939 201762583.9
AEA TECHNOLO-NPR AATN PZ -112607939 201762583.9
AFFINITI INTEGRA 1651064Z LN -743208854.7 241654750
AGA RANGEMASTER 4160101Z LN -135154885.9 370549810
AGORA SHOPPING C 214766Z LN -44716668.29 244995279.1
AIRTOURS PLC ATORF US -379721780.5 1817512774
AIRTOURS PLC AIR LN -379721780.5 1817512774
AIRTOURS PLC AIR VX -379721780.5 1817512774
ALCATEL-LUCENT T 2645055Z LN -8743499.127 423399404.1
ALIXPARTNERS LTD 2578482Z LN -20704239.37 115351021.9
ALLDAYS PLC ALDYF US -120493900 252232072.9
ALLDAYS PLC 317056Q LN -120493900 252232072.9
ALLIANCE & LEICE 1603082Z LN -362196734.3 3707298376
ALLIANZ MANAGEME 4160221Z LN -25811484.64 191970654.7
ALTON TOWERS RES 4496763Z LN -10652990.57 233239679.4
AMER BUS SYS ARB LN -497126976 121439000
AMEY PLC AMY VX -48862569.33 931527720.5
AMEY PLC AMEYF US -48862569.33 931527720.5
AMEY PLC AMY LN -48862569.33 931527720.5
AMEY PLC-ASSENT AMYA LN -48862569.33 931527720.5
AMEY PLC-NEW AMYN LN -48862569.33 931527720.5
ANGLESEY ALUMINI 3899138Z LN -31293037.69 162854170.3
ANGLESEY ALUMINI 1363682Z LN -92021199.08 162854170.3
ANKER PLC DW14 GR -21861359.81 115463159
ANKER PLC ANK LN -21861359.81 115463159
ANKER PLC ANK PO -21861359.81 115463159
ANKER PLC - ASSD ANKC LN -21861359.81 115463159
ANKER PLC - ASSD ANKB LN -21861359.81 115463159
ANKER PLC-ASSD ANKA LN -21861359.81 115463159
APPERLEY REALISA 3951420Z LN -32792784.91 184057205.1
ARGENTA UNDERWRI 2619614Z LN -1752171.43 135965410.7
ASHWELL PROPERTY 4165857Z LN -192048023.3 200163088.3
ASPIRE HOUSING L 1820890Z LN -76622621.06 145635258.6
ASTRIUM LTD 2568578Z LN -90555016.55 456797651.8
AT KEARNEY HOLDI 4168565Z LN -712649.2612 420870276.2
ATP OIL & GAS UK 1885966Z LN -60472161.29 263293265.1
AUDIT COMMISSION 3954964Z LN -117444297.5 140317611.7
AUTOMOBILE ASSOC 1479490Z LN -33757452.81 1402428072
AVAYA UK 1700688Z LN -28200251.54 331855473.3
AVIVA CENTRAL SE 4503755Z LN -118366561.9 856513593.7
AVIVA EMPLOYMENT 1749312Z LN -1672441720 168553324
BAE SYSTEMS INTE 2344987Z LN -77756535.83 440742839.3
BAE SYSTEMS LAND 1069210Z LN -74963208.91 373186409.6
BAE SYSTEMS LAND 1111359Z LN -200240896.5 438322592.3
BAE SYSTEMS PROP 1151751Z LN -87647151.12 896957185.8
BAE SYSTEMS SURF 1979118Z LN -459281987.9 278902868.6
BANK OF SCOTLAND 1419810Z LN -10880522.24 570678372.7
BARCHESTER HOLDC 4391889Z LN -29571912.71 1847591976
BARRACUDA GROUP 3636Z LN -395586366.9 328358578
BASINGHALL FINAN 1127799Z LN -9318896.893 1118303697
BAT CHINA LTD 1281226Z LN -242792796.6 103934859.5
BAT UK & EXPORT 4509491Z LN -349911284.7 2485988824
BCH GROUP PLC BCH LN -5728273.973 187993198.2
BDP HOLDINGS LTD 3796920Z LN -5521777.438 114452852
BENTLEY MOTORS L 1376666Z LN -161438838.6 949891659.2
BETFAIR LTD 83844Z LN -26079415.01 461076110.5
BGE UK LTD 1653368Z LN -34093758.69 497857124.3
BIFFA LTD BIFF LN -380391564.8 3021695633
BIFFA PLC 2758798Q EO -380391564.8 3021695633
BIFFA PLC BIFF IX -380391564.8 3021695633
BIFFA PLC BIFAF US -380391564.8 3021695633
BIFFA PLC 2758802Q EO -380391564.8 3021695633
BIFFA PLC 2758822Q EO -380391564.8 3021695633
BIFFA PLC 2758818Q EU -380391564.8 3021695633
BIFFA PLC 3567279Q GR -380391564.8 3021695633
BIFFA PLC 2758806Q EO -380391564.8 3021695633
BIFFA PLC BIFF PZ -380391564.8 3021695633
BIFFA PLC 2758794Q EU -380391564.8 3021695633
BIRMINGHAM MAILB 1781057Z LN -6608952.843 116466648.8
BIRSE CIVILS LTD 1333506Z LN -17529759.02 148612506.4
BLACK & EDGINGTO BLE LN -133034755.3 130464035.4
BLACK HORSE FINA 2603342Z LN -769429.5864 1628936017
BLACKWELL PUBLIS 80044Z LN -1289834.531 223671685.3
BMI 1113Z LN -216730247.2 520473243.2
BNB RECRUITMENT BNB LN -10242625.55 103637705
BNB RECRUITMENT BNB IX -10242625.55 103637705
BNB RECRUITMENT BNB PO -10242625.55 103637705
BNB RECRUITMENT BQX GR -10242625.55 103637705
BNB RECRUITMENT BNBRF US -10242625.55 103637705
BOLTON WANDERERS 1274042Z LN -109297588 124148929.4
BOOKER PLC BKERF US -59832893.13 1298182549
BOOKER PLC 987188Q LN -59832893.13 1298182549
BOOKER PLC 1330Q GR -59832893.13 1298182549
BOOKER PLC-ADR BOK$ LN -59832893.13 1298182549
BOOKER PLC-ADR BKRUY US -59832893.13 1298182549
BOSTON MAYFLOWER 1845650Z LN -38702577.78 104489726.5
BP EXPLORATION A 1085738Z LN -11474454.61 1521107023
BRADSTOCK GROUP BSKGF US -1855444.639 268563822.5
BRADSTOCK GROUP BDK LN -1855444.639 268563822.5
BRB RESIDUARY LT 2872503Z LN -300504689.6 399749459.7
BRENT WALKER GRP 754087Q LN -1774306283 867084131.8
BRENT WALKER GRP BWKGF US -1774306283 867084131.8
BRICKAGENT LTD 1194055Z LN -7097524.821 348579284.1
BRIT BROADCAST 1517Z LN -690133931.4 5734507056
BRIT ENERGY LTD 523362Q LN -5822867501 4921095750
BRIT ENERGY PLC BHEGF US -5822867501 4921095750
BRIT ENERGY PLC BEN1 GR -5822867501 4921095750
BRIT ENERGY PLC BGYEF US -5822867501 4921095750
BRIT ENERGY PLC 555140Q VX -5822867501 4921095750
BRIT ENERGY-A BENA GR -5822867501 4921095750
BRIT ENERGY-ADR BHEFF US -5822867501 4921095750
BRITISH ENER-$US BGYD AR -5822867501 4921095750
BRITISH ENER-$US BGYNYD AR -5822867501 4921095750
BRITISH ENER-ADR BGYNY US -5822867501 4921095750
BRITISH ENER-BLK BGYNYB AR -5822867501 4921095750
BRITISH ENER-BLK BGYB AR -5822867501 4921095750
BRITISH ENER-C/E BGYNYC AR -5822867501 4921095750
BRITISH ENER-C/E BGYC AR -5822867501 4921095750
BRITISH ENER-CED BGYNY AR -5822867501 4921095750
BRITISH ENER-CED BGY AR -5822867501 4921095750
BRITISH ENERGY-A BGYGF US -5822867501 4921095750
BRITISH ENERGY-A BHEAF US -5822867501 4921095750
BRITISH ENERGY-A BGYA VX -5822867501 4921095750
BRITISH ENERGY-A BGYA PO -5822867501 4921095750
BRITISH ENERGY-A 3012442Q LN -5822867501 4921095750
BRITISH TRANSPOR 4015740Z LN -363269422.4 158334015.9
BRIXTON GREAT WE 1242343Z LN -24193317.48 164120047.9
BTG INTERNATIONA 2815068Z LN -4253521.919 408338104.2
BUNZL VENDING SE 1626514Z LN -3627717.453 117295226
BURNDEN LEISURE BDL LN -92092299.62 136726201.7
CALSONIC KANSEI 1541442Z LN -38998494.18 298627314.6
CALSONIC KANSEI 2730264Z LN -112686897.5 233439821
CANARY WHARF FIN 1198063Z LN -133871013.2 4239121844
CAPITAL HOME LOA 3809804Z LN -15503258.05 16833730499
CARILLION SERVIC 1692592Z LN -6947459.591 181597321.7
CARISBROOKE ANGL 3815488Z LN -67887962.81 125396545.6
CARLISLE GROUP 506819Q LN -11904428.42 203548565
CATTLES PLC CTT TQ -599615492.2 3880885246
CATTLES PLC CHOXF US -599615492.2 3880885246
CATTLES PLC CZS GR -599615492.2 3880885246
CATTLES PLC CTTSEK EU -599615492.2 3880885246
CATTLES PLC CTTSEK EO -599615492.2 3880885246
CATTLES PLC CTT LN -599615492.2 3880885246
CATTLES PLC CTTEUR EO -599615492.2 3880885246
CATTLES PLC CTT QM -599615492.2 3880885246
CATTLES PLC CTT NR -599615492.2 3880885246
CATTLES PLC CTT EO -599615492.2 3880885246
CATTLES PLC CTT EB -599615492.2 3880885246
CATTLES PLC CTTUSD EU -599615492.2 3880885246
CATTLES PLC CTT IX -599615492.2 3880885246
CATTLES PLC CTT PZ -599615492.2 3880885246
CATTLES PLC CTT PO -599615492.2 3880885246
CATTLES PLC CTTGBP EO -599615492.2 3880885246
CATTLES PLC CTT NQ -599615492.2 3880885246
CATTLES PLC CTT BQ -599615492.2 3880885246
CATTLES PLC CTT EU -599615492.2 3880885246
CATTLES PLC CTTUSD EO -599615492.2 3880885246
CATTLES PLC CTTEUR EU -599615492.2 3880885246
CATTLES PLC CTT VX -599615492.2 3880885246
CATTLES PLC-ADR CHOXY US -599615492.2 3880885246
CATTLES PLC-FPR CTTF LN -599615492.2 3880885246
CATTLES PLC-FPR CTTF PZ -599615492.2 3880885246
CATTLES PLC-NPR CTTN IX -599615492.2 3880885246
CATTLES PLC-NPR 2843726Q EO -599615492.2 3880885246
CATTLES PLC-NPR CTTN LN -599615492.2 3880885246
CATTLES PLC-NPR CTTN PZ -599615492.2 3880885246
CATTLES PLC-NPR 2843734Q EO -599615492.2 3880885246
CATTLES PLC-NPR 2843730Q EU -599615492.2 3880885246
CATTLES PLC-NPR CCTN PZ -599615492.2 3880885246
CATTLES PLC-RFD CTTR LN -599615492.2 3880885246
CATTLES PLC-RFD CTTR IX -599615492.2 3880885246
CATTLES PLC-RFD CTTR PZ -599615492.2 3880885246
CHANNEL 5 TELEVI 93306Z LN -3955940.23 440416449.8
CHELSEA FOOTBALL 1508858Z LN -645325606.2 325028457.3
CHRYSALIS GROUP HR4 GR -16399845.81 124838262.3
CHRYSALIS GROUP CHSUSD EU -16399845.81 124838262.3
CHRYSALIS GROUP CHS PZ -16399845.81 124838262.3
CHRYSALIS GROUP CHS EU -16399845.81 124838262.3
CHRYSALIS GROUP CHSUSD EO -16399845.81 124838262.3
CHRYSALIS GROUP CYGUF US -16399845.81 124838262.3
CHRYSALIS GROUP CHSEUR EO -16399845.81 124838262.3
CHRYSALIS GROUP CHSGBP EO -16399845.81 124838262.3
CHRYSALIS GROUP CHS EO -16399845.81 124838262.3
CHRYSALIS GROUP 5CY GR -16399845.81 124838262.3
CHRYSALIS GROUP CHS VX -16399845.81 124838262.3
CHRYSALIS GROUP CHS IX -16399845.81 124838262.3
CHRYSALIS GROUP CHS LN -16399845.81 124838262.3
CHRYSALIS GROUP CHSEUR EU -16399845.81 124838262.3
CHRYSALIS GROUP CHS PO -16399845.81 124838262.3
CHRYSALIS GROUP CLYSF US -16399845.81 124838262.3
CHRYSALIS MUSIC 1082762Z LN -5036846.092 103320003.7
CLIPPER WINDPOWE CWP PZ -168322000 436419008
CLIPPER WINDPOWE CWPA LN -168322000 436419008
CLIPPER WINDPOWE CWP EO -168322000 436419008
CLIPPER WINDPOWE CRPWF US -168322000 436419008
CLIPPER WINDPOWE CWP EU -168322000 436419008
CLIPPER WINDPOWE C2W GR -168322000 436419008
CLIPPER WINDPOWE CWP PG -168322000 436419008
CLIPPER WINDPOWE CWP IX -168322000 436419008
CLIPPER WINDPOWE CWP LN -168322000 436419008
CLIPPER WINDPOWE 3470635Q LN -168322000 436419008
COMMERCIAL VEHIC 1575514Z LN -19637.28046 146760852
COMMUNITY HOUSIN 4448257Z LN -14511411.3 202470921.6
COMO HOLDINGS UK 3818576Z LN -23709992.86 122013803.9
COMPASS GROU-OLD 1259Q LN -668101173.9 2972459078
COMPASS GROUP QOP GR -668101173.9 2972459078
COMPASS GRP-ADR CMSJY US -668101173.9 2972459078
COMPASS GRP-ADR CMSGY US -668101173.9 2972459078
CONNECT M77/GSO 2028763Z LN -30886645.59 222325514.3
CONNECT UTILITIE 2112683Z LN -5647965.724 124871701.7
CONVENIENCE FOOD 1555794Z LN -76242510.77 781213617
COOLKEERAGH ESB 4471679Z LN -52669832.08 317763242.1
COTT BEVERAGES L 605912Z LN -16895546.47 184391857.8
COTT RETAIL BRAN 4499739Z LN -15275862.4 184176726.3
CPI MORTARS LTD 1751696Z LN -24785356.36 119460176.9
CPW NETWORK SERV 2118451Z LN -58330905.18 134962119.3
CROSBY GROUP PLC 237335Z LN -122188674.2 211009635.6
CROSS KEYS HOMES 2008711Z LN -123895266.7 168685502.5
CROWN BLUE LINE 1369234Z LN -5491244.659 143228058.8
CSC METROCENTRE 1203663Z LN -177523497.7 231888247
CUCINA LUX INVES 4503083Z LN -332083965.3 3040705457
DANE HOUSING GRO 1773129Z LN -34728487.36 131110255.8
DANKA BUS SYSTEM DNK LN -497126976 121439000
DANKA BUS SYSTEM DANKF US -497126976 121439000
DANKA BUS SYSTEM DNK VX -497126976 121439000
DANKA BUS SYSTEM DNK PO -497126976 121439000
DANKA BUS SYSTEM DNK PZ -497126976 121439000
DANKA BUS SYSTEM DNK IX -497126976 121439000
DANKA BUS SYSTEM 3205287Q EU -497126976 121439000
DANKA BUS SYSTEM 3205283Q EO -497126976 121439000
DANKA BUS SYSTEM 3205291Q EO -497126976 121439000
DANKA BUS-$US CE DANKD AR -497126976 121439000
DANKA BUS-ADR DB6 GR -497126976 121439000
DANKA BUS-ADR AP39 LI -497126976 121439000
DANKA BUS-ADR DANKE US -497126976 121439000
DANKA BUS-ADR DANKY US -497126976 121439000
DANKA BUS-BLK CE DANKB AR -497126976 121439000
DANKA BUS-C/E CE DANKC AR -497126976 121439000
DANKA BUS-CEDEAR DANK AR -497126976 121439000
DAVENHAM GROUP P DAV PZ -57317833.22 114701147.6
DAVENHAM GROUP P DAV EO -57317833.22 114701147.6
DAVENHAM GROUP P DAV EU -57317833.22 114701147.6
DAVENHAM GROUP P DAV PG -57317833.22 114701147.6
DAVENHAM GROUP P DAH GR -57317833.22 114701147.6
DAVENHAM GROUP P DAVEUR EO -57317833.22 114701147.6
DAVENHAM GROUP P DAH TH -57317833.22 114701147.6
DAVENHAM GROUP P DAV LN -57317833.22 114701147.6
DCK GROUP LTD 4006628Z LN -23972516.74 108515833.6
DE STEFANO INVES 3814768Z LN -10968616.22 208612111
DELTA 3 UK LTD 4087083Z LN -2278970462 8024284919
DHL EXPRESS UK L 1564450Z LN -588968969.9 178269906.1
DIAMOND RESORT H 1710824Z LN -36346087.76 199633867
DIAMOND RESORTS 1578906Z LN -55241260.22 185000514.5
DISPOSABLE SOFT 1124335Z LN -25554763.54 154077028.1
DONCASTERS PLC 2248Z LN -317308195.4 1941958348
DONCASTERS-ADR 295664Q US -317308195.4 1941958348
DRIVE ASSIST HOL 3641135Z LN -129629293.2 804046536.3
DTZ DEBENHAM TIE 1637608Z LN -65367918.17 431959182
E ON RUHRGAS UK 1671208Z LN -205306824.5 401477872.3
E ON UK CHP LTD 2642428Z LN -475664052.2 262876104.5
EASYNET GROUP EAY GR -60380605.51 334049332.2
EASYNET GROUP ESY PO -60380605.51 334049332.2
EASYNET GROUP EZNGF US -60380605.51 334049332.2
EASYNET GROUP ESY LN -60380605.51 334049332.2
EASYNET GROUP ESY VX -60380605.51 334049332.2
EASYNET GROUP-CV 91009Z LN -60380605.51 334049332.2
ECONOMIST NEWSPA 6888Z LN -2941080.267 399071232.6
EDF ENERGY 1 LTD 1201287Z LN -185411355.3 354815290.3
EMI GROUP -ASSD EMIA LN -2265916257 2950021937
EMI GROUP LTD EMI LN -2265916257 2950021937
EMI GROUP PLC EMI VX -2265916257 2950021937
EMI GROUP PLC EMIPF US -2265916257 2950021937
EMI GROUP PLC EMI PO -2265916257 2950021937
EMI GROUP PLC 3020138Q GR -2265916257 2950021937
EMI GROUP PLC EMI IX -2265916257 2950021937
EMI GROUP PLC-B 1019425Q LN -2265916257 2950021937
EMI GROUP-ADR EMI$ LN -2265916257 2950021937
EMI GROUP-ADR 38IS LN -2265916257 2950021937
EMI GROUP-ADR EMIPY US -2265916257 2950021937
ENERGY POWER RES 510443Z LN -93963662.92 168611857.1
EQUINITI LTD 977621Z LN -93668087.43 951504738.1
EQUITY INSURANCE 1284698Z LN -17694968.8 178126828.2
ERM GROUP HOLDIN 3125976Z LN -163200611.7 627934170
ERM-EUROPE LTD 1539482Z LN -6211608.917 222158884.2
ESPORTA HEALTH & 1689624Z LN -15075296.84 156183034.4
EUROPEAN HOME EHR EU -14328735.16 110864081.4
EUROPEAN HOME EHR PO -14328735.16 110864081.4
EUROPEAN HOME EHR4 EO -14328735.16 110864081.4
EUROPEAN HOME EHR1 EO -14328735.16 110864081.4
EUROPEAN HOME EHR9 EO -14328735.16 110864081.4
EUROPEAN HOME FPAKF US -14328735.16 110864081.4
EUROPEAN HOME EHRGBP EO -14328735.16 110864081.4
EUROPEAN HOME EHR8 EO -14328735.16 110864081.4
EUROPEAN HOME EHR LN -14328735.16 110864081.4
EUROPEAN HOME EHR PZ -14328735.16 110864081.4
EUROPEAN HOME EHR7 EO -14328735.16 110864081.4
EUROPEAN HOME EHR3 EO -14328735.16 110864081.4
EUROPEAN HOME EHR5 EO -14328735.16 110864081.4
EUROPEAN HOME EHR6 EO -14328735.16 110864081.4
EUROPEAN HOME EHR10 EO -14328735.16 110864081.4
EUROPEAN HOME KLZ PO -14328735.16 110864081.4
EUROPEAN HOME KLZ VX -14328735.16 110864081.4
EUROPEAN HOME EHREUR EO -14328735.16 110864081.4
EUROPEAN HOME EHR VX -14328735.16 110864081.4
EUROPEAN HOME EHREUR EU -14328735.16 110864081.4
EUROPEAN HOME EHR EO -14328735.16 110864081.4
EUROPEAN HOME EHR2 EO -14328735.16 110864081.4
EUROSTAR INTERNA 4379945Z LN -2296294817 600452807.4
EXXONMOBIL MARIN 1196527Z LN -11436778.26 350633878.1
FAIRLINE BOATS H 4498779Z LN -13944238.58 114504852.8
FAREPAK PLC FPK LN -14328735.16 110864081.4
FINANCIAL SERVIC 2630281Z LN -167558381.3 246856182.8
FIRST CHOICE HOL 1098394Z LN -599861682.6 608849393.2
FIRST MANCHESTER 1651368Z LN -1085204.011 152518055.1
FIRST SOUTH YORK 1575010Z LN -17765193.06 105951310.3
FITNESS FIRST CL 1734144Z LN -4542316.813 262997348.7
FITNESS FIRST GR 4501843Z LN -831355754.2 1655609515
FLECTAT LTD 1160967Z LN -53637033.56 103228447.6
FLUKE PRECISION 1429402Z LN -991319.9558 125904210.3
FLYBE LTD 6621Z LN -118366561.9 450450527.2
FOOTBALL FOUNDAT 3958180Z LN -1856870.101 108334858
FORD MOTOR CO LT 1291306Z LN -493779397.8 5534240380
FOUR SEASONS HEA 1865450Z LN -103869946 365540616
FUJIFILM IMAGING 2113899Z LN -9049513.414 101994398.3
FUNDING CORP LTD 4157637Z LN -28925795.68 201083535.3
FW FARNSWORTH LT 1293386Z LN -44420065.35 102695080.1
GALA GROUP LTD 19374Z LN -1443271177 5876950503
GALIFORM CORPORA 1478794Z LN -49876078.98 987241731.3
GAMESTEC LEISURE 1432626Z LN -22918299.36 107315419.3
GARTLAND WHALLEY GWB LN -10986768.6 145352034.5
GE CALEDONIAN LT 2178340Z LN -162433000.9 291389984
GE MONEY SECURED 1194559Z LN -86537323.69 719721515.9
GENERAL MOTORS 1062338Z LN -1083369252 1738332123
GETRONICS UK LTD 1446978Z LN -21428395.69 105267195.7
GGT GROUP PLC 500970Q LN -156372272 408211200.9
GGT GROUP-ADR GGTRY US -156372272 408211200.9
GLAXOSMITHKLINE 1426Z LN -9429285.587 13095256920
GLOBAL CROSSING 3629883Z LN -353965082.8 492328850.3
GLOBAL RADIO SER 4171741Z LN -58536057.18 145897320.9
GONDOLA GROUP LT 4499995Z LN -284524422.8 1496226646
GONDOLA HOLD 913024Q GR -284524422.8 1496226646
GONDOLA HOLD GND VX -284524422.8 1496226646
GONDOLA HOLDINGS GND IX -284524422.8 1496226646
GONDOLA HOLDINGS GND LN -284524422.8 1496226646
GONDOLA HOLD-NEW GNDB LN -284524422.8 1496226646
GONDOLA HOLD-NEW GNDA LN -284524422.8 1496226646
GOODRICH CONTROL 3631571Z LN -203464797 600544111.2
GRAINGER FINANCE 1850494Z LN -22474336.95 1950379725
GRANT THORNTON U 961842Z LN -87634636.95 389831122.7
GREEN (E) & PART GEP LN -32392901.23 196106689.5
HALDEX CONCENTRI 4160093Z LN -29953316.08 111499657.3
HARMSWORTH PRINT 1552314Z LN -17382531.76 325365175.8
HARMSWORTH PRINT 1719464Z LN -46809590.17 171744856.2
HARMSWORTH QUAYS 1552378Z LN -109747106.9 292508124.8
HAYMARKET GROUP 4158941Z LN -100498143 307693877.6
HEREFORDSHIRE HO 1945190Z LN -2634668.462 110312423
HESS INDONESIA P 1705776Z LN -56622019.25 582889084.6
HMV GROUP -GDR 29362Z US -92987530.85 883465014.8
HMV GROUP -GDR 276960Q GR -92987530.85 883465014.8
HMV GROUP PLC HMV PO -92987530.85 883465014.8
HMV GROUP PLC HMV10 EO -92987530.85 883465014.8
HMV GROUP PLC HMVUSD EO -92987530.85 883465014.8
HMV GROUP PLC HMV2 EO -92987530.85 883465014.8
HMV GROUP PLC HM4 GK -92987530.85 883465014.8
HMV GROUP PLC HMV1 EO -92987530.85 883465014.8
HMV GROUP PLC HMV LN -92987530.85 883465014.8
HMV GROUP PLC HMV NR -92987530.85 883465014.8
HMV GROUP PLC HM4 GR -92987530.85 883465014.8
HMV GROUP PLC HMV VX -92987530.85 883465014.8
HMV GROUP PLC HMV9 EO -92987530.85 883465014.8
HMV GROUP PLC HMV IX -92987530.85 883465014.8
HMV GROUP PLC HMV4 EO -92987530.85 883465014.8
HMV GROUP PLC HMVUSD EU -92987530.85 883465014.8
HMV GROUP PLC HMV NQ -92987530.85 883465014.8
HMV GROUP PLC HMV EO -92987530.85 883465014.8
HMV GROUP PLC HMV QM -92987530.85 883465014.8
HMV GROUP PLC HMV PZ -92987530.85 883465014.8
HMV GROUP PLC HMVEUR EO -92987530.85 883465014.8
HMV GROUP PLC HMV5 EO -92987530.85 883465014.8
HMV GROUP PLC HMV7 EO -92987530.85 883465014.8
HMV GROUP PLC HMV EB -92987530.85 883465014.8
HMV GROUP PLC HMV TQ -92987530.85 883465014.8
HMV GROUP PLC HMV BQ -92987530.85 883465014.8
HMV GROUP PLC HMVMF US -92987530.85 883465014.8
HMV GROUP PLC HMVEUR EU -92987530.85 883465014.8
HMV GROUP PLC HMV S1 -92987530.85 883465014.8
HMV GROUP PLC HMV3 EO -92987530.85 883465014.8
HMV GROUP PLC HMV EU -92987530.85 883465014.8
HMV GROUP PLC HMV6 EO -92987530.85 883465014.8
HMV GROUP PLC HMV8 EO -92987530.85 883465014.8
HMV GROUP PLC HMVGBP EO -92987530.85 883465014.8
HOLIDAY AUTOS IN 1155863Z LN -52099341.51 222704774.4
HOME RETAIL GROU 1897678Z LN -70921714.17 750699513.1
HOMEFIELD PVT UK 4501835Z LN -13668996.51 455224068.7
HOUSE FRASER-ADR HSFRY US -14410799.86 200149998.1
HOUSE FRASER-ADR HOFSY US -14410799.86 200149998.1
HOUSE OF FRASER HOF PO -14410799.86 200149998.1
HOUSE OF FRASER HOF PZ -14410799.86 200149998.1
HOUSE OF FRASER HOF VX -14410799.86 200149998.1
HOUSE OF FRASER HOF LN -14410799.86 200149998.1
HOUSE OF FRASER HSFRF US -14410799.86 200149998.1
HOUSE OF FRASER HOF IX -14410799.86 200149998.1
HUTCHISON 3G UK 265923Z LN -2558478023 10215382954
HUTCHISON 3G UK 1870250Z LN -10150197192 10089105316
HYDREX HOLDINGS 4156949Z LN -150849963.2 145584295.2
IG GROUP LTD 4502843Z LN -1681700671 208248450
IGLO FOODS GROUP 2332487Z LN -427711801.4 3363661535
IKANO FINANCIAL 2599182Z LN -11016514.34 150562302.2
INCOMMUNITIES GR 4508531Z LN -89005973.7 440297257.7
INEOS GROUP HLDG 6623Z LN -583710740.2 15449555292
INEOS MANUFACTUR 2170452Z LN -6726362.412 1831309315
INEOS VINYLS UK 1072618Z LN -236733123.8 260899630.2
INFORMA UK LTD 699186Z LN -267015729.6 1019729118
INN ON THE PARK 1111959Z LN -20164779.75 213273261.3
INSPIRED GAMING 1181783Z LN -87284373.38 396170831.1
INTELLIGENT FINA 1645352Z LN -18232958.48 154556014.8
INTELLIGENT PROC 1897878Z LN -16714344.93 183346516.4
INTERFLOOR GROUP 317371Z LN -6491968.079 102342688.7
INTERNATIONAL RE 1074242Z LN -43752001.08 114451373.2
INTERNATIONAL TR 1647720Z LN -2256724.849 114588447.6
INTEROUTE COMMUN 214906Z LN -100076490.6 843548864.4
IRANIAN OIL CO U 1380570Z LN -88170857.4 370135921.5
JARVIS PLC JRVS EO -64739862.73 130951086
JARVIS PLC JRV EO -64739862.73 130951086
JARVIS PLC JRVS5 EO -64739862.73 130951086
JARVIS PLC JRVS6 EO -64739862.73 130951086
JARVIS PLC JRVS9 EO -64739862.73 130951086
JARVIS PLC JRVS4 EO -64739862.73 130951086
JARVIS PLC JRVS PO -64739862.73 130951086
JARVIS PLC JRVS7 EO -64739862.73 130951086
JARVIS PLC JRVS1 EO -64739862.73 130951086
JARVIS PLC JRVS PZ -64739862.73 130951086
JARVIS PLC JVSPF US -64739862.73 130951086
JARVIS PLC JRVS EU -64739862.73 130951086
JARVIS PLC JRVS VX -64739862.73 130951086
JARVIS PLC JRVS IX -64739862.73 130951086
JARVIS PLC JRVSEUR EO -64739862.73 130951086
JARVIS PLC JRVSEUR EU -64739862.73 130951086
JARVIS PLC JRVSGBP EO -64739862.73 130951086
JARVIS PLC JRVS8 EO -64739862.73 130951086
JARVIS PLC JRVS LN -64739862.73 130951086
JARVIS PLC JVR GR -64739862.73 130951086
JARVIS PLC JRVS2 EO -64739862.73 130951086
JARVIS PLC JRVS3 EO -64739862.73 130951086
JDR ENTERPRISES 3947788Z LN -18283944.55 190661628.9
JESSOPS PLC JS4 GR -42702018.35 112964060.4
JESSOPS PLC JSPGBP EO -42702018.35 112964060.4
JESSOPS PLC JSP PO -42702018.35 112964060.4
JESSOPS PLC JSP VX -42702018.35 112964060.4
JESSOPS PLC JSPEUR EU -42702018.35 112964060.4
JESSOPS PLC JSP LN -42702018.35 112964060.4
JESSOPS PLC JSP IX -42702018.35 112964060.4
JESSOPS PLC JSP EU -42702018.35 112964060.4
JESSOPS PLC JSP PZ -42702018.35 112964060.4
JESSOPS PLC JSP EO -42702018.35 112964060.4
JESSOPS PLC JSPEUR EO -42702018.35 112964060.4
JS BLOOR SWINDON 1568906Z LN -5329885.206 110390972.1
JVC EUROPE LTD 2667041Z LN -2824766.239 131996942.9
KAZAKHGO-GDR KZG LI -88561000 241726000
KAZAKHGO-GDR KZGI LI -88561000 241726000
KAZAKHGO-GDR KZGQ IX -88561000 241726000
KAZAKHGO-GDR KZQGI IX -88561000 241726000
KAZAKHGOLD- 144A 768834Z LI -88561000 241726000
KAZAKHGOLD GP LT KGZ HK -88561000 241726000
KAZAKHGOLD-REG T KZGT LI -88561000 241726000
KAZAKHGOLD-REGS 3683241Q LI -88561000 241726000
KELLOGG MANAGEME 1739336Z LN -5288683.744 348135786.3
KESTREL HOLDINGS 4499515Z LN -3577225.606 950172823.8
KEW GREEN HOTELS 1031803Z LN -16234267.92 219908068
KIA MOTORS UK LT 1985990Z LN -34025454.6 315596502.8
KIER DEVELOPMENT 86900Z LN -6527759.314 275699248.6
KILMARTIN HOLDIN 3589161Z LN -32467784.16 576731039.1
KILMARTIN PROPER 534862Z LN -37743228.9 444220212.7
KLEENEZE PLC KLZ LN -14328735.16 110864081.4
KODAK LTD 1275242Z LN -180673404.9 661044368.6
LAMBERT FENCHURC LMF LN -1453050.041 1826806853
LANCASTER INVEST 1575538Z LN -54823340.19 121302849.6
LAND SECURITIES 1371626Z LN -103330200.3 4796043425
LAPSENT LTD 203678Z LN -26875940.03 200397842.7
LAST MINUTE NETW 1180895Z LN -588292610.9 572322264.9
LATIMER GROUP LT 4089809Z LN -397652099.9 909970808.9
LAZARD & CO SERV 2575394Z LN -3197910.908 103653546.3
LEEDS SPORTING LEDPF US -73166148.8 143762193.7
LEEDS SPORTING LES LN -73166148.8 143762193.7
LEEDS UNITED PLC 889687Q GR -73166148.8 143762193.7
LEEDS UNITED PLC LUFC LN -73166148.8 143762193.7
LEEDS UNITED PLC LDSUF US -73166148.8 143762193.7
LEGAL & GENERAL 1575290Z LN -1113055.576 157485589.7
LGC LTD 161695Z LN -44759203.51 163172696.4
LINK FINANCIAL 3041Z LN -63296738.93 226722478.9
LIONCOVER INSURA 1120431Z LN -221632.1611 741441082.5
LLOYDS TSB CORPO 2045779Z LN -7210252.406 310036480.9
LLOYDS TSB EQUIP 1214495Z LN -661481.4498 334557469.7
LLOYDS TSB EQUIP 1238423Z LN -1919544.165 270438080.8
LOGICA INTERNATI 2562234Z LN -174392477.1 205240612.1
LOMBARD CORPORAT 1162975Z LN -7309362.404 198951662.4
LOMBARD CORPORAT 1131527Z LN -8573468.83 205568221.6
LONDON ORGANISIN 2707808Z LN -111194464.2 319902766.9
LONDON TOWN PLC LTWR LN -21897636.36 175672299.2
LONDON TOWN PLC LTW PG -21897636.36 175672299.2
LONDON TOWN PLC LTW PO -21897636.36 175672299.2
LONDON TOWN PLC LTW LN -21897636.36 175672299.2
LONDON TOWN PLC LTWX LN -21897636.36 175672299.2
LONDON TOWN PLC LTW PZ -21897636.36 175672299.2
LONDON TOWN PLC LTW EU -21897636.36 175672299.2
LONDON TOWN PLC LOU GR -21897636.36 175672299.2
LONDON TOWN PLC LTW EO -21897636.36 175672299.2
LONDON TOWN PLC LTW IX -21897636.36 175672299.2
L'OREAL UK LTD 1294866Z LN -38243907.35 469320156.2
LOTUS CARS LTD 1361858Z LN -35114342.56 198253618.4
LOTUS GROUP INTE 144299Z LN -36824866.02 207696437.1
LYNN WIND FARM L 3953012Z LN -12411782.18 259118026.8
M 2003 PLC MTWOF US -2203513803 7204891602
M 2003 PLC 203055Q LN -2203513803 7204891602
M 2003 PLC-ADR MTWOE US -2203513803 7204891602
M 2003 PLC-ADR MTWOY US -2203513803 7204891602
MAKRO SELF SERVI 1373618Z LN -164720222.7 400641220.4
MANCHESTER CITY 2348397Z LN -234766219.8 728747414.2
MANSFORD HOLDING 253659Z LN -4565898.062 650742111.3
MAPELEY STEPS CO 1914846Z LN -44982581.48 112862516.8
MARCONI PLC MRCQF US -2203513803 7204891602
MARCONI PLC MONI BB -2203513803 7204891602
MARCONI PLC 203083Q VX -2203513803 7204891602
MARCONI PLC MNI BB -2203513803 7204891602
MARCONI PLC MNI LN -2203513803 7204891602
MARCONI PLC MY2 GR -2203513803 7204891602
MARCONI PLC-ADR MONIE US -2203513803 7204891602
MARCONI PLC-ADR MONI US -2203513803 7204891602
MARCONI PLC-ADR MRCQY US -2203513803 7204891602
MARCONI PLC-ADR MY2A GR -2203513803 7204891602
MARCONI PLC-ADR QUQMON AU -2203513803 7204891602
MARCONI PLC-ADR MCONY US -2203513803 7204891602
MARCONI PLC-ADR MCBA GR -2203513803 7204891602
MARCONI PLC-ADR MONIY US -2203513803 7204891602
MARSH SERVICES L 1701416Z LN -523772036.4 121325725.9
MAYBOURNE HOTELS 1824362Z LN -7342720.585 243776690.2
MBDA UK LTD 1720864Z LN -24824098.4 1872164454
MCINERNEY GROUP 1967014Z LN -174737505.4 140489212.7
MEDIAEDGE CIA UK 1912470Z LN -30968632.67 193466296
MEDIMMUNE LTD 1596402Z LN -18333665.25 353092399.2
MENZIES HOTELS H 4496419Z LN -100398281.3 322775887.8
MENZIES HOTELS O 2527986Z LN -61896569.44 159951232
MIDDLESEX CABLE 1598242Z LN -170219219.9 108664527.9
MIDLAND EXPRESSW 583730Z LN -21453585.64 1190959618
MILK LINK PROCES 1970766Z LN -8969327.852 114318428.2
MILLENNIUM STADI 1727672Z LN -21509367.87 169250447.4
MILLER HOMES 2220892Z LN -31021993.81 983811413
MNAIP LTD 2018815Z LN -8594175.012 140270204.8
MONARCH HOLDINGS 4502027Z LN -69668058.94 698208587.3
MOTO HOSPITALITY 1344378Z LN -276920533.6 958277274.1
MYTRAVEL GROUP 3544280Q IX -379721780.5 1817512774
MYTRAVEL GROUP MT/S LN -379721780.5 1817512774
MYTRAVEL GROUP MYTPF US -379721780.5 1817512774
MYTRAVEL GROUP MT/S VX -379721780.5 1817512774
MYTRAVEL GROUP MT/S PO -379721780.5 1817512774
MYTRAVEL GROUP ARO2 GR -379721780.5 1817512774
MYTRAVEL GROUP P MYTGF US -379721780.5 1817512774
MYTRAVEL GROUP P MT/ VX -379721780.5 1817512774
MYTRAVEL GROUP P 1018144Q GR -379721780.5 1817512774
MYTRAVEL GROUP-A 2281919Q GR -379721780.5 1817512774
MYTRAVEL GROUP-A MYTVF US -379721780.5 1817512774
MYTRAVEL TOUR OP 1190295Z LN -1444587831 1560632416
NACCO MATERIALS 1141567Z LN -7118433.514 147004693.9
NATIONS HEALTHCA 623142Z LN -73694956.7 114365932.5
NCR LTD 3083521Z LN -316495672.6 356199007
NESTLE UK LTD 1274562Z LN -431385112.4 1655061910
NEW LINX HOUSING 1801057Z LN -12040509.71 233111422.6
NEW LOOK RETAIL 2711544Z LN -400438791.5 2225635874
NEW STAR ASSET NSAM LN -397718038 292972732.1
NEW STAR ASSET NWSAF US -397718038 292972732.1
NEW STAR ASSET 3226431Q EU -397718038 292972732.1
NEW STAR ASSET NSAA LN -397718038 292972732.1
NEW STAR ASSET NSAM IX -397718038 292972732.1
NEW STAR ASSET NSAM PO -397718038 292972732.1
NEW STAR ASSET N6S GR -397718038 292972732.1
NEW STAR ASSET 3226439Q EU -397718038 292972732.1
NEW STAR ASSET NSAM PZ -397718038 292972732.1
NEW STAR ASSET 3226447Q EO -397718038 292972732.1
NEW STAR ASSET 3226443Q EO -397718038 292972732.1
NEW STAR ASSET NSAM TQ -397718038 292972732.1
NEW STAR ASSET 3226435Q EO -397718038 292972732.1
NEWCASTLE UNITED 4380361Z LN -102558583.4 184539911.8
NEWCASTLE UNITED 1060322Z LN -112290583.6 186651205.2
NORBAIN GROUP LT 4007676Z LN -15436972.45 108956420.2
NORTHERN ELEC FI 28944Z US -1130359.983 408059954
NORTHERN ELECTRI 1160759Z LN -1130359.983 408059954
NORTHERN FO-ASSD NFDA LN -70166103.48 924672036.4
NORTHERN FOODS NFDS PZ -70166103.48 924672036.4
NORTHERN FOODS NFDS LN -70166103.48 924672036.4
NORTHERN FOODS NFDSEUR EU -70166103.48 924672036.4
NORTHERN FOODS NFDS NR -70166103.48 924672036.4
NORTHERN FOODS NFDS S1 -70166103.48 924672036.4
NORTHERN FOODS NFDS BQ -70166103.48 924672036.4
NORTHERN FOODS NFDS EO -70166103.48 924672036.4
NORTHERN FOODS NFDSGBP EO -70166103.48 924672036.4
NORTHERN FOODS NFDS TQ -70166103.48 924672036.4
NORTHERN FOODS NFDS NQ -70166103.48 924672036.4
NORTHERN FOODS NFDSUSD EO -70166103.48 924672036.4
NORTHERN FOODS NFDS IX -70166103.48 924672036.4
NORTHERN FOODS NFDSEUR EO -70166103.48 924672036.4
NORTHERN FOODS NFDS VX -70166103.48 924672036.4
NORTHERN FOODS NTFOF US -70166103.48 924672036.4
NORTHERN FOODS NFDS QM -70166103.48 924672036.4
NORTHERN FOODS NFDS EU -70166103.48 924672036.4
NORTHERN FOODS NFO GR -70166103.48 924672036.4
NORTHERN FOODS NFDSUSD EU -70166103.48 924672036.4
NORTHERN FOODS NFO GK -70166103.48 924672036.4
NORTHERN FOODS NFDS EB -70166103.48 924672036.4
NORTHERN FOODS NFDS PO -70166103.48 924672036.4
NORTHERN FOODS P NFDR LN -70166103.48 924672036.4
NORTHERN FOO-NEW NFDN LN -70166103.48 924672036.4
NORTHERN FOO-RFD 650060Q LN -70166103.48 924672036.4
NOVAR ED&S LTD 1286578Z LN -12362003.04 176723922
NOVELIS UK LTD 1295610Z LN -29354907.35 167393334.2
NPIL HOLDCO LTD 3641071Z LN -174437379.8 865144704.3
NPOWER GAS LTD 1689816Z LN -381274433.9 500408294.4
NPOWER LTD 1185599Z LN -399535772.9 3443512739
NPOWER NORTHERN 1779169Z LN -477727478 2222376018
NTL COMMUNICATIO 1773729Z LN -301208075.9 954738393.1
NTL MIDLANDS LTD 1579698Z LN -1174963.948 459374901.9
ODEON & UCI CINE 3489372Z LN -380122740 961975815.4
O-I MANUFACTURIN 1320610Z LN -7063615.875 126090273.5
OPTIMUM CARE LTD 3951796Z LN -23827846.5 131314548.6
ORANGE PLC ORNGF US -593935104.1 2902299502
ORANGE PLC 951641Q LN -593935104.1 2902299502
ORANGE PLC 1460Q GR -593935104.1 2902299502
ORANGE PLC-ADR ORA$ LN -593935104.1 2902299502
ORANGE PLC-ADR ORNGY US -593935104.1 2902299502
ORANGE PLC-ADR ONG GR -593935104.1 2902299502
ORBIS PLC ORBSF US -4168493.8 127701679.5
ORBIS PLC OBG PO -4168493.8 127701679.5
ORBIS PLC OBS LN -4168493.8 127701679.5
ORBIS PLC RLP GR -4168493.8 127701679.5
ORBIS PLC OBS IX -4168493.8 127701679.5
ORBIS PLC OBS PZ -4168493.8 127701679.5
ORBIS PLC OBS PO -4168493.8 127701679.5
OUTDOOR GROUP LT 1318338Z LN -34424941.75 127535038.5
PARK FOOD GROUP PKFD LN -33281188.01 114623958.4
PARK GROUP PLC PKG EO -33281188.01 114623958.4
PARK GROUP PLC PKG PZ -33281188.01 114623958.4
PARK GROUP PLC PKG VX -33281188.01 114623958.4
PARK GROUP PLC PKGGBP EO -33281188.01 114623958.4
PARK GROUP PLC PKG PO -33281188.01 114623958.4
PARK GROUP PLC PRKGF US -33281188.01 114623958.4
PARK GROUP PLC PKG EU -33281188.01 114623958.4
PARK GROUP PLC PKG LN -33281188.01 114623958.4
PARK GROUP PLC PRKG IX -33281188.01 114623958.4
PARSONS BRINCKER 4496363Z LN -4691186.744 159531362.7
PARTKESTREL LTD 1486546Z LN -90325648.32 1585961788
PATIENTLINE PLC 2928903Q EU -54677284.64 124948245.8
PATIENTLINE PLC PTL PZ -54677284.64 124948245.8
PATIENTLINE PLC PTL IX -54677284.64 124948245.8
PATIENTLINE PLC 2928899Q EO -54677284.64 124948245.8
PATIENTLINE PLC 2928907Q EO -54677284.64 124948245.8
PATIENTLINE PLC PTL LN -54677284.64 124948245.8
PATIENTLINE PLC PTL VX -54677284.64 124948245.8
PATIENTLINE PLC PTL PO -54677284.64 124948245.8
PD PORT SERVICES 1407442Z LN -10969629.43 162071623.9
PENDRAGON PREMIE 1858506Z LN -9740093.803 156352977.7
PENNINE HOUSING 1892438Z LN -173655254.2 138682867.1
PEUGEOT CITROEN 1974702Z LN -72708407.45 266912249
PHONOGRAPHIC PER 1296410Z LN -7333794.897 201686757.6
PHS GROUP HOLDIN 3173182Z LN -211011146 1915467185
PHS GROUP PLC 592449Z LN -211011146 1915467185
PIPEX UK LTD 3956092Z LN -118990464.5 384147753.3
PLACES FOR PEOPL 1914158Z LN -56178390.75 585147920
PLANNED MAINTENA 1344714Z LN -57648953.97 148147314.6
PLUS HOUSING GRO 4015788Z LN -10023120.58 371941616.5
POLYUS G-GDR POLG TQ -88561000 241726000
POLYUS G-GDR POLG LI -88561000 241726000
POLYUS G-GDR KZG TQ -88561000 241726000
POLYUS G-GDR PLZLY US -88561000 241726000
POLYUS G-GDR KXZ GR -88561000 241726000
POLYUS G-GDR PLGL LI -88561000 241726000
POLYUS G-GDR KAZAY US -88561000 241726000
PORTSMOUTH FOOTB 2253627Z LN -93977761.27 177073811.1
POST OFFICE LTD 1542650Z LN -810274769.8 1745713935
POWERCORP INTERN 2075155Z LN -9861916.228 120277629
PPG METRO 500 LT 2224564Z LN -28999808.24 139145845.8
PREMIER PROPERTY 4006740Z LN -154087010.7 766206481.6
PRESTBURY WENTWO 3814856Z LN -84753043.56 659529899
PRINOVIS LIVERPO 2074147Z LN -23730499.87 280965576.9
PRODUCTION SERVI 2278723Z LN -66744030.72 507657733.9
PROSTRAKAN GROUP PSK LN -9666264.987 134080449.8
PROSTRAKAN GROUP PSKGBP EO -9666264.987 134080449.8
PROSTRAKAN GROUP PKNGF US -9666264.987 134080449.8
PROSTRAKAN GROUP PSK S1 -9666264.987 134080449.8
PROSTRAKAN GROUP PSKEUR EU -9666264.987 134080449.8
PROSTRAKAN GROUP PSK PZ -9666264.987 134080449.8
PROSTRAKAN GROUP PSK EO -9666264.987 134080449.8
PROSTRAKAN GROUP PSK EU -9666264.987 134080449.8
PROSTRAKAN GROUP PSK IX -9666264.987 134080449.8
PROSTRAKAN GROUP PSK PO -9666264.987 134080449.8
PROSTRAKAN GROUP PSKEUR EO -9666264.987 134080449.8
PROSTRAKAN GROUP PSK VX -9666264.987 134080449.8
QHOTELS GROUP LT 759287Z LN -184737716 699448824.7
QUINN BUILDING P 3949900Z LN -85682901.55 1320302420
QUINN RADIATORS 1405898Z LN -84009968.77 297557563.9
R&R ICE CREAM LT 3624280Z LN -119415790.4 995648642.4
RAVEN HOUSING TR 4155997Z LN -1384128.565 165155995.7
RAYTHEON SYSTEMS 1068610Z LN -32601425.32 346298511
RBS MEZZANINE LT 2198564Z LN -31627066.42 866060198.2
REAL ESTATE OP-O REO LN -1301115843 1804307307
REAL ESTATE OP-O REOGBP EO -1301115843 1804307307
REAL ESTATE OP-O REO EU -1301115843 1804307307
REAL ESTATE OP-O REO VX -1301115843 1804307307
REAL ESTATE OP-O REA GR -1301115843 1804307307
REAL ESTATE OP-O REO PZ -1301115843 1804307307
REAL ESTATE OP-O REO IX -1301115843 1804307307
REAL ESTATE OP-O REO EO -1301115843 1804307307
REAL ESTATE OP-O REO ID -1301115843 1804307307
RED BEE MEDIA LT 1953086Z LN -5917906.033 233315140.7
RED FOOTBALL JOI 3277951Z LN -101906192.3 1372452972
REDCASTLE 214 OX 1195151Z LN -203269.4356 262332395.9
REGARD HOLDINGS 4157517Z LN -2678709.275 159772566.2
REGUS LTD 273187Q LN -46111832.15 367181111
REGUS PLC RGU GR -46111832.15 367181111
REGUS PLC 2296Z LN -46111832.15 367181111
REGUS PLC 273195Q VX -46111832.15 367181111
REGUS PLC REGSF US -46111832.15 367181111
REGUS PLC-ADS REGS US -46111832.15 367181111
REGUS PLC-ADS REGSY US -46111832.15 367181111
REGUS PLC-ADS RGUA GR -46111832.15 367181111
REGUS PLC-ADS REGSV US -46111832.15 367181111
RENAULT RETAIL G 1569882Z LN -939316.5822 148920952.8
RENTOKIL INITIAL RTO LN -142674955 3045660413
RENTOKIL INITIAL RTO TQ -142674955 3045660413
RENTOKIL INITIAL RTOPEN EO -142674955 3045660413
RENTOKIL INITIAL RTOUSD EO -142674955 3045660413
RENTOKIL INITIAL RTO EO -142674955 3045660413
RENTOKIL INITIAL RTO NQ -142674955 3045660413
RENTOKIL INITIAL RTOKF US -142674955 3045660413
RENTOKIL INITIAL RTO1 GK -142674955 3045660413
RENTOKIL INITIAL RTO BQ -142674955 3045660413
RENTOKIL INITIAL RTOPEN EU -142674955 3045660413
RENTOKIL INITIAL RTO1 GR -142674955 3045660413
RENTOKIL INITIAL RTO NR -142674955 3045660413
RENTOKIL INITIAL RTO PZ -142674955 3045660413
RENTOKIL INITIAL RTOGBP EO -142674955 3045660413
RENTOKIL INITIAL RTO VX -142674955 3045660413
RENTOKIL INITIAL RTO IX -142674955 3045660413
RENTOKIL INITIAL RTO PO -142674955 3045660413
RENTOKIL INITIAL RKLIF US -142674955 3045660413
RENTOKIL INITIAL RTOEUR EU -142674955 3045660413
RENTOKIL INITIAL RTO S1 -142674955 3045660413
RENTOKIL INITIAL RTOUSD EU -142674955 3045660413
RENTOKIL INITIAL RTO EB -142674955 3045660413
RENTOKIL INITIAL RTO QM -142674955 3045660413
RENTOKIL INITIAL RTO EU -142674955 3045660413
RENTOKIL INITIAL RTO1 EO -142674955 3045660413
RENTOKIL INITIAL RTO GR -142674955 3045660413
RENTOKIL INITIAL RTOEUR EO -142674955 3045660413
RENTOKIL INITIAL RTOG IX -142674955 3045660413
RENTOKIL-SP ADR RTOKY US -142674955 3045660413
RENTOKIL-SP ADR AP76 LI -142674955 3045660413
RIO TINTO LONDON 1313074Z LN -11248111.34 837785373.2
ROBINS & DAY LTD 1280922Z LN -36729873.15 136233088.2
ROSEMONT HOLDING 4391905Z LN -34807182.85 158222622.5
ROSYTH ROYAL DOC 2184524Z LN -51250390.37 170932412.7
ROYAL BANK LEASI 2177244Z LN -96708288.01 12689075410
ROYAL MAIL HOLDI 3900202Z LN -10344178409 9705181654
SAFFRON HOUSING 4448377Z LN -3777866.1 124457507.9
SAMPFORD UNDERWR 1230791Z LN -18964953.58 150532675.1
SCOTTISH MEDIA 1442Q GR -36632758.71 143156965
SCOTTISH MEDIA SSMR LN -36632758.71 143156965
SCOTTISH MEDIA SSM LN -36632758.71 143156965
SCOTTISH TELEV SCTVF US -36632758.71 143156965
SCOTTISHPOWER EN 2211292Z LN -388472480.2 2874992270
SCOTTS CO UK LTD 1154459Z LN -31443592.79 119553562.6
SEGRO FINANCE PU 2320833Z LN -1254907.484 270979842.3
SELWOOD HOUSING 1933982Z LN -5609259.85 165098338.1
SETON HEALTHCARE 2290Z LN -10585183.94 156822902.8
SEVERN VALE HOUS 4287717Z LN -43910018.24 115584900.8
SFI GROUP PLC SUF LN -108067115.8 177647536.1
SFI GROUP PLC SUYFF US -108067115.8 177647536.1
SHEFFIELD UNITED 1275418Z LN -17712590.52 101590746.2
SIMON CARVES LTD 1209367Z LN -309426997.2 105356699.7
SKANDIA LIFE BUS 1451642Z LN -1945833.316 191394739.6
SKYEPHARMA PLC SKPEUR EU -133034755.3 130464035.4
SKYEPHARMA PLC SKP VX -133034755.3 130464035.4
SKYEPHARMA PLC SKP1 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP2 EO -133034755.3 130464035.4
SKYEPHARMA PLC SK8C GR -133034755.3 130464035.4
SKYEPHARMA PLC SKP1 VX -133034755.3 130464035.4
SKYEPHARMA PLC SKP7 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP6 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKPGBP EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP IX -133034755.3 130464035.4
SKYEPHARMA PLC SKP8 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP4 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP9 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP TQ -133034755.3 130464035.4
SKYEPHARMA PLC SKPEUR EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP PZ -133034755.3 130464035.4
SKYEPHARMA PLC SKP10 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP3 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP5 EO -133034755.3 130464035.4
SKYEPHARMA PLC SKP LN -133034755.3 130464035.4
SKYEPHARMA PLC SK8A GR -133034755.3 130464035.4
SKYEPHARMA PLC SKP PO -133034755.3 130464035.4
SKYEPHARMA PLC SKP EU -133034755.3 130464035.4
SKYEPHARMA PLC SKP BQ -133034755.3 130464035.4
SKYEPHARMA PLC SKYEF US -133034755.3 130464035.4
SKYEPHARMA -SUB 2976665Z LN -133034755.3 130464035.4
SKYEPHARMA-ADR SKYE US -133034755.3 130464035.4
SKYEPHARMA-ADR SK8N GR -133034755.3 130464035.4
SKYEPHARMA-ADR SKYEY US -133034755.3 130464035.4
SKYEPHARMA-ADR AP80 LI -133034755.3 130464035.4
SKYEPHARMA-ADR SK8 GR -133034755.3 130464035.4
SKYEPHARMA-ADR SKYPY US -133034755.3 130464035.4
SKYEPHAR-RTS F/P SKPF VX -133034755.3 130464035.4
SKYEPHAR-RTS F/P SKPF LN -133034755.3 130464035.4
SKYEPHAR-RTS N/P SKPN LN -133034755.3 130464035.4
SKYEPHAR-RTS N/P SKPN VX -133034755.3 130464035.4
SLP ENGINEERING 1855186Z LN -32035150.2 111509874.7
SMG PLC SMG PO -36632758.71 143156965
SMG PLC SMG LN -36632758.71 143156965
SMG PLC-FUL PAID SMGF LN -36632758.71 143156965
SMG PLC-NIL PAID SMGN LN -36632758.71 143156965
SMITHS NEWS PLC NWS2 EO -96686010.48 285345604
SMITHS NEWS PLC NWS1 EU -96686010.48 285345604
SMITHS NEWS PLC NWS2GBP EO -96686010.48 285345604
SMITHS NEWS PLC NWS8 EO -96686010.48 285345604
SMITHS NEWS PLC NWS13 EO -96686010.48 285345604
SMITHS NEWS PLC NWS S1 -96686010.48 285345604
SMITHS NEWS PLC NWS2EUR EO -96686010.48 285345604
SMITHS NEWS PLC NWS7 EO -96686010.48 285345604
SMITHS NEWS PLC NWS10 EO -96686010.48 285345604
SMITHS NEWS PLC NWS11 EO -96686010.48 285345604
SMITHS NEWS PLC NWS2 EU -96686010.48 285345604
SMITHS NEWS PLC NWS2 TQ -96686010.48 285345604
SMITHS NEWS PLC SMWPF US -96686010.48 285345604
SMITHS NEWS PLC NWS2EUR EU -96686010.48 285345604
SMITHS NEWS PLC NWS IX -96686010.48 285345604
SMITHS NEWS PLC NWS4 EO -96686010.48 285345604
SMITHS NEWS PLC SMWPY US -96686010.48 285345604
SMITHS NEWS PLC NWS1GBP EO -96686010.48 285345604
SMITHS NEWS PLC NWS PZ -96686010.48 285345604
SMITHS NEWS PLC NWS9 EO -96686010.48 285345604
SMITHS NEWS PLC NWS12 EO -96686010.48 285345604
SMITHS NEWS PLC NWS LN -96686010.48 285345604
SMITHS NEWS PLC NWS VX -96686010.48 285345604
SMITHS NEWS PLC NWS1 BQ -96686010.48 285345604
SMITHS NEWS PLC NWS1 EO -96686010.48 285345604
SMITHS NEWS PLC NWS PO -96686010.48 285345604
SMITHS NEWS PLC NWS6 EO -96686010.48 285345604
SMITHS NEWS PLC NWS5 EO -96686010.48 285345604
SONY COMPUTER EN 3893902Z LN -527371383.9 1289099673
SONY DADC UK LTD 4007652Z LN -758038.3706 131666251.9
SONY UNITED KING 1591658Z LN -1219147829 2550391748
SOUTH STAFFORDSH 4049781Z LN -12127094.81 148602864.7
SOUTHERN CROSS SCHE2 EO -456945463.9 226544692
SOUTHERN CROSS SCHE PZ -456945463.9 226544692
SOUTHERN CROSS SCHEGBP EO -456945463.9 226544692
SOUTHERN CROSS SOCHF US -456945463.9 226544692
SOUTHERN CROSS SCHE3 EO -456945463.9 226544692
SOUTHERN CROSS SCHE EO -456945463.9 226544692
SOUTHERN CROSS SCH5 EO -456945463.9 226544692
SOUTHERN CROSS SCHEUSD EU -456945463.9 226544692
SOUTHERN CROSS SCHEUSD EO -456945463.9 226544692
SOUTHERN CROSS SCHE EU -456945463.9 226544692
SOUTHERN CROSS SCHE S1 -456945463.9 226544692
SOUTHERN CROSS SCHE4 EO -456945463.9 226544692
SOUTHERN CROSS SCHE8 EO -456945463.9 226544692
SOUTHERN CROSS SCHE PO -456945463.9 226544692
SOUTHERN CROSS F2Z TH -456945463.9 226544692
SOUTHERN CROSS SCHE6 EO -456945463.9 226544692
SOUTHERN CROSS SCHE BQ -456945463.9 226544692
SOUTHERN CROSS SCH3 EO -456945463.9 226544692
SOUTHERN CROSS SCHE7 EO -456945463.9 226544692
SOUTHERN CROSS SCHE EB -456945463.9 226544692
SOUTHERN CROSS SCH4 EO -456945463.9 226544692
SOUTHERN CROSS SCHEEUR EU -456945463.9 226544692
SOUTHERN CROSS SCHE VX -456945463.9 226544692
SOUTHERN CROSS SCHE LN -456945463.9 226544692
SOUTHERN CROSS SCHE NQ -456945463.9 226544692
SOUTHERN CROSS SCHE IX -456945463.9 226544692
SOUTHERN CROSS SCHE TQ -456945463.9 226544692
SOUTHERN CROSS SCHEEUR EO -456945463.9 226544692
SOUTHERN CROSS SCHE NR -456945463.9 226544692
SOUTHERN CROSS F2Z GR -456945463.9 226544692
SOUTHERN CROSS SCHE QM -456945463.9 226544692
SOUTHERN CROSS SCHE5 EO -456945463.9 226544692
SOUTHERN ELECTRI 2635379Z LN -259913242.1 1437660480
SPEAR GROUP HOLD 4470999Z LN -91133585.59 140447896.6
SPEEDY 1 LTD 3722238Z LN -464739433.2 1384529500
SPEEDY SUPPORT S 1601730Z LN -34304692.53 146096457.3
SPIRIT PUB CO PL SPRT EU -797310760.5 3657116792
SPIRIT PUB CO PL SPRT NR -797310760.5 3657116792
SPIRIT PUB CO PL SPRT EO -797310760.5 3657116792
SPIRIT PUB CO PL SPRT QM -797310760.5 3657116792
SPIRIT PUB CO PL SPRT TQ -797310760.5 3657116792
SPIRIT PUB CO PL SPRT IX -797310760.5 3657116792
SPIRIT PUB CO PL SPRT BQ -797310760.5 3657116792
SPIRIT PUB CO PL SPRT EB -797310760.5 3657116792
SPIRIT PUB CO PL S7I GR -797310760.5 3657116792
SPIRIT PUB CO PL SPRT PZ -797310760.5 3657116792
SPIRIT PUB CO PL SPRT LN -797310760.5 3657116792
SQUARE ENIX LTD 1826770Z LN -223995033.8 278955082.2
SR TECHNICS UK L 2900250Z LN -87572452.23 179843123.8
STAGECOACH SERVI 1584258Z LN -27470918.93 305042241.9
STV GROUP PLC STVG EU -36632758.71 143156965
STV GROUP PLC SMGPF US -36632758.71 143156965
STV GROUP PLC STVGGBP EO -36632758.71 143156965
STV GROUP PLC STVG LN -36632758.71 143156965
STV GROUP PLC SMG VX -36632758.71 143156965
STV GROUP PLC STVGEUR EU -36632758.71 143156965
STV GROUP PLC STVG VX -36632758.71 143156965
STV GROUP PLC SMG PZ -36632758.71 143156965
STV GROUP PLC STVG S1 -36632758.71 143156965
STV GROUP PLC STVG EO -36632758.71 143156965
STV GROUP PLC STVGEUR EO -36632758.71 143156965
STV GROUP PLC SMG IX -36632758.71 143156965
SUN CHEMICAL LTD 2569274Z LN -21504458.55 276424178.5
SUNDERLAND ASSOC 1274418Z LN -30559441.44 144949782.5
SUNSAIL LTD 1092666Z LN -37047891.81 193976501.7
SW NO 1 LTD 1266351Z LN -127509303.4 140986934.8
SWIFT TECHNICAL 4287133Z LN -34723772.77 138665319.9
TATA CMMNCTNS UK 2534722Z LN -32378969.15 118690215.5
TDL INFOMEDIA 3362Z LN -25723860.05 136762955.6
TELEWEST COM-ADR TWSTD US -3702234581 7581020925
TELEWEST COM-ADR TWT$ LN -3702234581 7581020925
TELEWEST COM-ADR TWSTY US -3702234581 7581020925
TELEWEST COM-ADR 940767Q GR -3702234581 7581020925
TELEWEST COMM TWSTF US -3702234581 7581020925
TELEWEST COMM 715382Q LN -3702234581 7581020925
TELEWEST COMM TWT VX -3702234581 7581020925
TELEWEST COMM 604296Q GR -3702234581 7581020925
TELEWEST COMMUNI 1646328Z LN -322407498.9 794173871.1
TELEWEST COMMUNI 1608194Z LN -459786702.9 9163459022
THALES CORPORATE 1083706Z LN -39356881.83 696177878.8
THAMES WATER FIN 1615Z LN -48749918.54 4474513723
THORN EMI PLC THNE FP -2265916257 2950021937
THORN EMI-ADR THN$ LN -2265916257 2950021937
THORN EMI-ADR TORNY US -2265916257 2950021937
THORN EMI-CDR THN NA -2265916257 2950021937
THORN EMI-REGD 1772Q GR -2265916257 2950021937
TIGER ASPECT PRO 1819690Z LN -1811042.92 108420699.7
TIMES NEWSPAPERS 2343939Z LN -653746579.6 603467606.2
TOPPS TILES PLC TPT5 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT3 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT LN -37156577.81 134888367.5
TOPPS TILES PLC TPT VX -37156577.81 134888367.5
TOPPS TILES PLC TPTJY US -37156577.81 134888367.5
TOPPS TILES PLC TPT6 EO -37156577.81 134888367.5
TOPPS TILES PLC TPTJF US -37156577.81 134888367.5
TOPPS TILES PLC TPT7 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT PO -37156577.81 134888367.5
TOPPS TILES PLC TPT S1 -37156577.81 134888367.5
TOPPS TILES PLC TPT EO -37156577.81 134888367.5
TOPPS TILES PLC TPT4 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT2 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT1 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT TQ -37156577.81 134888367.5
TOPPS TILES PLC TPTEUR EU -37156577.81 134888367.5
TOPPS TILES PLC TPTGBP EO -37156577.81 134888367.5
TOPPS TILES PLC TPT9 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT10 EO -37156577.81 134888367.5
TOPPS TILES PLC TPT IX -37156577.81 134888367.5
TOPPS TILES PLC TPTEUR EO -37156577.81 134888367.5
TOPPS TILES PLC TPT PZ -37156577.81 134888367.5
TOPPS TILES PLC TPT EU -37156577.81 134888367.5
TOPPS TILES PLC TPT BQ -37156577.81 134888367.5
TOPPS TILES PLC TPT8 EO -37156577.81 134888367.5
TOPPS TILES-NEW TPTN LN -37156577.81 134888367.5
TOTAL UK LTD 3897130Z LN -61225906.13 2907445594
TRAVELEX HOLDING 2917958Z LN -1298945101 2546701094
TRAVELODGE LTD 3471462Z LN -515411329.9 1254613472
TRINITY MIRROR C 1871386Z LN -53485246.17 204376308.9
TRINITY MIRROR M 1871370Z LN -140843056.8 448783505.1
TRINITY MIRROR P 1511258Z LN -123528659.2 920027091.7
TRINITY MIRROR S 1512242Z LN -3205761.051 531281737.1
TSE DEVELOPMENT 2087531Z LN -297696548.3 510522326.8
TUBE LINES FINAN 1241207Z LN -2914999.962 2408518672
TUI UK LTD 1653824Z LN -913811298.8 5088088830
TYCO HEALTHCARE 1066794Z LN -13601743.4 333686519
UNIGATE PLC UNIG LN -34143742.45 284687094.6
UNIGATE PLC 1577Q GR -34143742.45 284687094.6
UNIGATE PLC UNGAF US -34143742.45 284687094.6
UNIGATE PLC UNGPF US -34143742.45 284687094.6
UNIGATE PLC-ADR UNGAY US -34143742.45 284687094.6
UNILEVER UK CENT 1273034Z LN -1928848885 6056871052
UNIQ PLC UNIQEUR EU -34143742.45 284687094.6
UNIQ PLC UNIQEUR EO -34143742.45 284687094.6
UNIQ PLC UNIQ PO -34143742.45 284687094.6
UNIQ PLC UGE1 GR -34143742.45 284687094.6
UNIQ PLC UNIQ EO -34143742.45 284687094.6
UNIQ PLC UNIQGBP EO -34143742.45 284687094.6
UNIQ PLC UNIQ LN -34143742.45 284687094.6
UNIQ PLC UNIQ EU -34143742.45 284687094.6
UNIQ PLC UNIQF US -34143742.45 284687094.6
UNIQ PLC UNIQ PZ -34143742.45 284687094.6
UNIQ PLC UNIQ IX -34143742.45 284687094.6
UNIQ PLC UNQPF US -34143742.45 284687094.6
UNIQ PLC UGE GR -34143742.45 284687094.6
UNIQ PLC UNIQ VX -34143742.45 284687094.6
UNIQ PLC-ASSD UNIA LN -34143742.45 284687094.6
UNIQ PREPARED FO 1077122Z LN -120661558 355622471.3
UNITED BISCUITS 3193858Z LN -326896245.3 3316769414
UNIVERSAL LEASIN 2581586Z LN -28690420.23 155128729.2
UNIVERSAL PICTUR 1083202Z LN -66200436.83 242851864.9
UPS LTD 1503290Z LN -128358198.9 422072199.6
UTC GROUP UGR LN -11904428.42 203548565
VALE OF AYLESBUR 4006932Z LN -73416860.01 100856530.6
VANCO UK LTD 2784982Z LN -56556541 114635709.2
VINK HOLDINGS LT 4380233Z LN -13477348.26 132005020.2
VIRGIN HOTELS GR 4288389Z LN -30191249.31 109995632.6
VIRGIN MOB-ASSD VMOC LN -392165409.3 166070003.7
VIRGIN MOB-ASSD VMOA LN -392165409.3 166070003.7
VIRGIN MOBILE VMOB VX -392165409.3 166070003.7
VIRGIN MOBILE VMOB PO -392165409.3 166070003.7
VIRGIN MOBILE VMOB LN -392165409.3 166070003.7
VIRGIN MOBILE VGMHF US -392165409.3 166070003.7
VIRGIN MOBILE UEM GR -392165409.3 166070003.7
VIRGIN WINGS LTD 4500155Z LN -410616776.7 5155268566
VODAFONE UK CONT 1909662Z LN -36036445.35 241077469.5
VOYAGE GROUP LTD 4168725Z LN -89543682.76 572205624
WALES & WEST UTI 3688061Z LN -784167196.7 2080276139
WARNER ESTATE WNER PO -17991567.99 433564660.8
WARNER ESTATE WNER PZ -17991567.99 433564660.8
WARNER ESTATE WNER LN -17991567.99 433564660.8
WARNER ESTATE WNER EO -17991567.99 433564660.8
WARNER ESTATE WNERGBP EO -17991567.99 433564660.8
WARNER ESTATE WNER VX -17991567.99 433564660.8
WARNER ESTATE WNEHF US -17991567.99 433564660.8
WARNER ESTATE WRL GR -17991567.99 433564660.8
WARNER ESTATE WNER EU -17991567.99 433564660.8
WARNER ESTATE WNER IX -17991567.99 433564660.8
WARNER MUSIC UK 1075906Z LN -30035535.27 103148268.1
WATSON & PHILIP WTSN LN -120493900 252232072.9
WEAVER VALE HOUS 3953220Z LN -60271595.72 104022836.2
WEETABIX LTD-A WEEBF US -397652099.9 909970808.9
WEETABIX LTD-A WTB OF -397652099.9 909970808.9
WESCOT TOPCO LTD 4007020Z LN -28467510.91 115035189
WEST HAM UNITED 1275834Z LN -60233495.23 174701255.1
WESTBURY HOTEL L 1214607Z LN -541051.7845 357290768.3
WHELCO HOLDINGS 2741744Z LN -1295249.714 100781831
WHITE YOUNG GREE WHY EO -32392901.23 196106689.5
WHITE YOUNG GREE WHYEUR EO -32392901.23 196106689.5
WHITE YOUNG GREE WHYGBP EO -32392901.23 196106689.5
WHITE YOUNG GREE WHYEUR EU -32392901.23 196106689.5
WHITE YOUNG GREE WHY LN -32392901.23 196106689.5
WHITE YOUNG GREE WHY VX -32392901.23 196106689.5
WHITE YOUNG GREE WHY PZ -32392901.23 196106689.5
WHITE YOUNG GREE WHY PO -32392901.23 196106689.5
WHITE YOUNG GREE WHY EU -32392901.23 196106689.5
WHITE YOUNG-NEW WHYN LN -32392901.23 196106689.5
WIGHTLINK LTD 1385642Z LN -15131435.92 231775265.6
WINCANTON PL-ADR WNCNY US -171883729.9 1378925175
WINCANTON PLC WIN4 EO -171883729.9 1378925175
WINCANTON PLC WIN1EUR EO -171883729.9 1378925175
WINCANTON PLC WIN1 EO -171883729.9 1378925175
WINCANTON PLC WIN PZ -171883729.9 1378925175
WINCANTON PLC WIN1GBP EO -171883729.9 1378925175
WINCANTON PLC WIN1 EB -171883729.9 1378925175
WINCANTON PLC WIN7 EO -171883729.9 1378925175
WINCANTON PLC WIN12 EO -171883729.9 1378925175
WINCANTON PLC WIN IX -171883729.9 1378925175
WINCANTON PLC WIN1 NQ -171883729.9 1378925175
WINCANTON PLC WIN1 EU -171883729.9 1378925175
WINCANTON PLC WIN6 EO -171883729.9 1378925175
WINCANTON PLC WIN11 EO -171883729.9 1378925175
WINCANTON PLC WIN8 EO -171883729.9 1378925175
WINCANTON PLC WIN1 TQ -171883729.9 1378925175
WINCANTON PLC WIN9 EO -171883729.9 1378925175
WINCANTON PLC WIN10 EO -171883729.9 1378925175
WINCANTON PLC WIN13 EO -171883729.9 1378925175
WINCANTON PLC WIN1 BQ -171883729.9 1378925175
WINCANTON PLC WIN1USD EO -171883729.9 1378925175
WINCANTON PLC WIN1 S1 -171883729.9 1378925175
WINCANTON PLC WIN LN -171883729.9 1378925175
WINCANTON PLC WIN VX -171883729.9 1378925175
WINCANTON PLC WIN1 QM -171883729.9 1378925175
WINCANTON PLC WIN5 EO -171883729.9 1378925175
WINCANTON PLC WIN1USD EU -171883729.9 1378925175
WINCANTON PLC WIN PO -171883729.9 1378925175
WINCANTON PLC WIN1EUR EU -171883729.9 1378925175
WINCANTON PLC WNCNF US -171883729.9 1378925175
WINDSOR TELEVISI 1475394Z LN -232297665.7 340517582.8
WINTERTHUR FINAN 1353474Z LN -5097471.01 146472274
WYG PLC WYG2 EO -32392901.23 196106689.5
WYG PLC WYG5 EO -32392901.23 196106689.5
WYG PLC WYG3 EO -32392901.23 196106689.5
WYG PLC WYG6 EO -32392901.23 196106689.5
WYG PLC WYG EU -32392901.23 196106689.5
WYG PLC WYGGBP EO -32392901.23 196106689.5
WYG PLC WYG4 EO -32392901.23 196106689.5
WYG PLC WYG7 EO -32392901.23 196106689.5
WYG PLC WYG8 EO -32392901.23 196106689.5
WYG PLC WHY IX -32392901.23 196106689.5
WYG PLC WYG PZ -32392901.23 196106689.5
WYG PLC WYG EO -32392901.23 196106689.5
WYG PLC WYG1 EO -32392901.23 196106689.5
WYG PLC WYGEUR EU -32392901.23 196106689.5
WYG PLC WYG LN -32392901.23 196106689.5
WYG PLC WYGEUR EO -32392901.23 196106689.5
XAARJET LTD 2697648Z LN -3938911.173 102239864.3
XCHANGING UK LTD 1814130Z LN -33399235.51 334395990.3
XSTRATA SERVICES 1975918Z LN -88056666.54 169405671
YANG MING UK LTD 1756777Z LN -39140424.52 296076088.5
YARLINGTON HOUSI 4435313Z LN -18443811.91 276648958.8
YOUNG'S BLUECRES 1841386Z LN -46554226.38 279057376.4
ZURICH EMPLOYMEN 1292298Z LN -122911831.6 159138559.6
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets. At first glance, this list may look
like the definitive compilation of stocks that are ideal to sell
short. Don't be fooled. Assets, for example, reported at
historical cost net of depreciation may understate the true value
of a firm's assets. A company may establish reserves on its
balance sheet for liabilities that may never materialize. The
prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com
Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/booksto order any title today.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA. Valerie U. Pascual, Marites O. Claro, Rousel Elaine T.
Fernandez, Joy A. Agravante, Psyche A. Castillon, Ivy B.
Magdadaro, Frauline S. Abangan and Peter A. Chapman, Editors.
Copyright 2011. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.
Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.
The TCR Europe subscription rate is US$625 per half-year,
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each. For subscription information,
contact Christopher Beard at 240/629-3300.
* * * End of Transmission * * *