(ARE.L) Arena Leisure PLC Buy/Sell

The Times

GSK HOPES 'UNPRECEDENTED' ORDER FOR FLU TREATMENT WILL

GENERATE 600 MILLION POUNDS

GlaxoSmithKline expects revenues to hit about 600 million pounds in 2009, following a surge in demand for Relenza, a treatment for people who have contracted flu. The pharmaceutical giant reported that sales of Relenza jumped to 60 million pounds in the second quarter, 20 times the volume compared to the same period in 2008. It added that it expected to increase its production capacity to about 200 million doses of the vaccine by the end of 2009, more than three times its 60 million capacity at the beginning of January. Chief executive Michael Witty said GSK, which has received orders for 195 million doses of the treatment from 16 countries, was in talks to sell it to more than 50 countries.

GUINEA ACCUSES RIO TINTO OF THREATENING CIVIL PEACE IN

DISPUTE OVER IRON ORE MINE

Rio Tinto has come under fire from the government of Guinea which accuses it of defying its authority and potentially threatening civil peace. In a letter addressed to chief executive Tom Albanese, the West African country has told the mining giant to stop trying to regain concessions for Simandou, the multibillion-dollar iron one ore deposit. The company rejected the allegations, saying that it was "confident of its strong legal standing as well as the win-win nature of our agreements with Guinea for the development of this project." Rio has estimated Simandou's cost to be at least 3.6 billion pounds.

INSIGHT BIDS ROLL IN

Schroders and the private equity group backing Gartmore have emerged as two of the five parties that have launched binding bids to acquire a 75 percent cut of Insight Investment, the fund management arm of Lloyds Banking Group . Bank of New York Mellon and two other suitors have also placed offers for slices of the business. Lloyds, which is understood to be considering bids of between 150 million pounds and 250 million pounds, is expected to select one or two preferred parties within the next few weeks.

TEMPUS:

BHP Billiton (hold on)

Euromoney (stand aside for now)

Carr's Milling (buy for income)

The Daily Telegraph

ARENA SHARES UP 30 PER CENT ON CONTRACT

Arena Leisure, the racecourse owner, has secured a five-year broadcasting contract with Satellite Information Service (SIS), in a deal worth an estimated 106 million pounds in revenues. Under the terms of the deal, SIS will make advance payments to the group every year before the beginning of the broadcasting term, including 12.5 million pounds in 2009 and 2010, and seven million pounds in 2011. It will also broadcast horse racing footage from Arena's seven racecourses into betting shops from the start of 2012. The news boosted Arena's shares on Wednesday, up 30 percent.
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