Teather
& Greenwood's Clients Move from Negative to Positive
Growth
Cazenove
once again heads our first table, which lists stockbrokers
according to their numbers of stock market clients, although
it has four fewer clients than in August. The next five
places are also unchanged, and in view of the gap separating
Cazenove from its nearest rival, UBS Investment Bank which
has 132.5 clients, it looks as though it will be a long
time before any other firm manages to take first place
in this table.
Our second 'size' table is concerned with the total pre-tax
profits of stockbrokers' clients. UBS Investment Bank
remains in the top spot, with a total of £14493.0m, and
this leader too is comfortably ahead of the number two
firm, Hoare Govett whose clients posted £4447.7m in profits.
Dresdner Kleinwort Wasserstein Securities has dropped
back sharply from fifth place with £792.3m in August,
to eleventh with -£428.8m this quarter. Last time there
were five negative figures out of the total of twelve
firms listed, this time there are six.
In contrast to the more settled rankings shown by the
first two tables, there has been a game of musical chairs
in the third one, which lists firms according to the average
increase in their clients' pre-tax profits. At the top
is KBC Peel Hunt, with an increase of 9.3%, over twice
its second-place August figure. Two significant upward
moves are those of Teather & Greenwood from seventh
to second, and Evolution Beeson Gregory from twelfth to
eighth.
The fourth table is another 'growth' league, featuring
average increases in clients' earnings per share. KBC
Peel Hunt has moved smartly into the lead from its August
position at number four, this time with a figure of 14%.
Seymour Pierce has dropped back from first to second place
with 10.1%. Teather & Greenwood has made the biggest
upward move, from number eight to number three, converting
a figure of -5.1% in August to 3.7%, while Hoare Govett
has slipped in the other direction, from second place
last time with 2.9%, to seventh this quarter with -0.2%.
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