News

Glen Moreno, chairman of The Financial Times publisher Pearson, bought 10,000 shares in the company yesterday, lifting his stake to 200,000 shares.

He bought the shares via American Depositary Receipts, paying $13.39 for each one. The purchase comes soon after he bought an identical stake on April 4, taking 10,000 shares at $13.96 a go.

California-born Moreno, who also holds directorships at hedge fund manager Man Group and investment and financial information company Fidelity International, became chairman of Pearson in 2005.

As well as publishing the FT, Pearson has extensive educational publishing interests and owns the Penguin publishing company.

On March 3, the company posted strong figures for 2007 helped by strong profit growth in all its businesses, which performed at or above 2006 levels.

Elsewhere in the world of newspaper publishing, Independent News and Media chairman Sir Anthony O' Reilly increased his holding in the company again on Wednesday, buying 1m shares at €2.08 each.

The purchase brings Sir Anthony's stake in the Irish company, which owns the UK newspaper The Independent, to just over 226m shares, a stake of 27.2%.

Sir Anthony is currently involved in a battle for control of the company with the Irish entrepreneur Denis O' Brien, who has been labelled by INM's board as a "dissident shareholder."

O' Brien owns 22.15% of the company, having bought a stake of just under 1% late last month.

O' Brien has criticised the management of INM, calling for the sale of the loss-making titles The Independent and The Independent on Sunday.

INM hit back on March 27 with its first public response to O' Brien's criticisms saying: "The board of INM believes that Mr O'Brien's comments and actions regarding INM, its board, management, strategy and governance, are designed to destabilise the company and run counter to the principles of a fair and orderly market for INM's shareholders.

"Consequently, the board is now formally declaring Mr O'Brien a 'dissident shareholder', who consistently voices disagreement with the company's strategy while continuing to buy shares and who is not acting in the best interests of all stakeholders."

Anglo American's chief executive Cynthia Carroll sold nearly £1.5m shares in the company yesterday to buy a house, the mining giant said today.

She sold 42,754 shares at 3,355p a go, leaving her with 228,787 shares in the company.

"The purpose of the sale is to raise funds in relation to a house purchase following her relocation to the UK," Anglo American said.

Top Director Buys

Dexion Equity Alternative Ld Ord 1p (DEA)
Director name: Mr Robin M J Bowie
Amount purchased: 334,029 @ 119.80p
Value: £400,167

Pearson (PSON)
Director name: Mr Glen Moreno
Amount purchased: 10,000 @ 675.00p
Value: £67,500

Diageo (DGE)
Director name: Lord James Blyth of Rowington
Amount purchased: 978 @ 1,068.00p
Value: £10,445
Top Director Sells

Anglo American (AAL)
Director name: Ms Cynthia Blum Carroll
Amount sold: 42,754 @ 3,355.00p
Value: £1,434,397

Immunodiagnostic Systems (IDH)
Director name: Mr Roger Duggan
Amount sold: 170,933 @ 183.50p
Value: £313,662

Lloyds TSB Group (LLOY)
Director name: Mr Michael E Fairey
Amount sold: 54,070 @ 446.50p
Value: £241,423

BATM Advanced (BVC)
Director name: Mr Ofer Bar-Ner
Amount sold: 158,600 @ 39.50p
Value: £62,647

Chaucer Holdings (CHU)
Director name: Mr Mark C Graham
Amount sold: 14,000 @ 97.30p
Value: £13,622