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This will bob around £10 as it's a magic psychological "resistence". The key here is getting in below £10 to benefit from the gap up once we break it. Strong uptrend and institutional buying pressure will make this leap over the £10 zone once all the profit takers are out.
24/09 08:42 - Next Secures Partnership Deal With Sears To Sell Clothes In US LONDON (Dow Jones)--U.K. fashion retailer Next PLC (NXT.LN) is to sell its clothing ranges online in the U.S. following a partnership deal with Sears Holdings Corp. (SHLD), the U.S. department store chain said in a statement Friday. Next will retail menswear, womenswear and accessories on Sears.com, which will be the exclusive seller of the U.K. group in the country. No timing or financial details were disclosed. Sears, the fourth-largest general retailer in the country with 3,900 stores in the U.S. and Canada, called Next "a superstar name in home-shopping," in the statement announcing the deal. It added the partnership reflects the group's commitment to "building an expanded portfolio of iconic apparel brands." At 0727 GMT, Next shares were up 4 pence, or 0.2%, at 2173 pence, in a modestly lower London market. Analyst Kate Clavert said the deal is a "low-cost way of expanding into the U.S. and learning about the market place." Earlier this month, Next reported a 17.6% rise in first-half net profit supported by cost-cutting, but the company also warned that the consumer environment in the U.K. may stay sluggish for some time. -By Simon Zekaria, Dow Jones Newswires; +44 207 842-9410; simon.zekaria@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=6uN7NCETTjhKngHQfUrJmg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires September 24, 2010 03:42 ET (07:42 GMT)
24/09 07:20 - KNOC Share Offer For Dana Now Wholly Unconditional, Claims 64% LONDON (Dow Jones)--Korea National Oil Corporation, or KNOC, the state-owned South Korean oil company, Friday declared its offer for Dana Petroleum PLC (DNX.LN) wholly unconditional and extended it until further notice. MAIN FACTS: -As at 1300 GMT on Sept. 23 KNOC either owned or had received valid acceptances of the share offer in respect of a total of 59.47 million shares, representing in aggregate 64.26% of the existing issued share capital of Dana. -KNOC has received valid acceptances from Dana shareholders in respect of 32.17 million shares, representing 34.76% of the existing issued share capital of Dana. -KNOC is waiving the 90% acceptance condition. -All of the conditions of the offer have now been satisfied or waived. -Dana shares closed Thursday at 1793 pence valuing the company at GBP1.66 billion. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=6uN7NCETTjhKngHQfUrJmg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires September 24, 2010 02:20 ET (06:20 GMT)