Hello traders,

US stocks rebounded tonight, sending the Dow Jones Industrial Average to yet
another record high close.

The DJIA closed up 53.80 points at 13,362.87, just off a new record high of 13,369.

The S&P500 gained 4.86 points to 1,512,58, while the Nasdaq Composite
rebounded from early weakness to rise 4.59 points to 2,576.34.

See you in the morning with the latest....

G.

Director Dealings - Wednesday 9 May 2007

Aegis Group PLC (AGS)Alliance & Leicester (AL.)Alliance Trust PLC (ATST)Alliance Trust PLC (ATST)Anglo American PLC (AAL)Axis-Shield PLC (ASD)BHP Billiton PLC (BLT)BRIT Ins Hldgs (BRE)Barclays PLC (BARC)Barr(A.G.) PLC (BAG)Barr(A.G.) PLC (BAG)Barr(A.G.) PLC (BAG)Barr(A.G.) PLC (BAG)Bellway PLC (BWY)Boyer Allan GreaterCapita Group PLC (CPI)Capita Group PLC (CPI)Cazenove Euro AlphaCharles Taylor Cons (CTR)Computacenter (CCC)Debenhams plc (DEB)Development Secs.PLC (DSC)Development Secs.PLC (DSC)Dunedin Inc.Growth (DIG)Forth Ports PLC (FPT)Galliford Try PLC (GFRD)

GlaxoSmithKline PLC (GSK)GlaxoSmithKline PLC (GSK)Hammerson PLC (HMSO)Hays PLC (HAS)Holders Technology (HDT)IMI PLC (IMI)KleenAir Systems (KSI)Lavendon Group PLC (LVD)National Express (NEX)Nevsky Fund LimitedNovae Group plc (NVA)Personal Group Holdings PLC (PGH)Phytopharm PLC (PYM)Phytopharm PLC (PYM)Phytopharm PLC (PYM)Phytopharm PLC (PYM)ProStrakan Group plc (PSK)RAB Euro Hi Yield FdRolls-Royce Grp Plc (RR.)Rolls-Royce Grp Plc (RR.)Rolls-Royce Grp Plc (RR.)Royal Bk Scot.Grp. (RBS)Salamander EnergyPLC (SMDR)Salamander EnergyPLC (SMDR)Smiths Group PLC (SMIN)

TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TDG PLC (TDG)TT Event-Driven FundTT Financials L/S FdTT Mid-Cap Eur L/STesco PLC (TSCO)Tesco PLC (TSCO)Tesco PLC (TSCO)Tomkins PLC (TOMK)Town Centre Secs. (TCSC)Traditional FundsUnilever PLC (ULVR)Whitbread PLC (WTB)Whitbread PLC (WTB)Whitbread PLC (WTB)Whitbread PLC (WTB)Xaar PLC (XAR)

Morning all. Market reports:

Telegraph
Telegraph (Bloomberg summary)
The Times
FT
The Guardian
The Independent
This is Money

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

OUTLOOK - International Power Q1 seen up on Europe, US higher profitsOUTLOOK Altadis Q1 overshadowed by bid approaches by Imperial, CVC/PAISTOCKWATCH - Rio Tinto, BHP retreat after takeover speculation subsides

Asian markets summary

Good morning traders!

In Asia today, the Hang Seng ended the morning down 72.51 points at 20,772.27,
while the Nikkei was recently down 16.25 points at 17,731.87.

New York Mercantile Exchange's main contract, light sweet crude for delivery in
June, was up 4 cents at $61.59 a barrel from $61.55 in late trading in the US
overnight.

Happy trading!

G.

Asian economic and corporate news summary

The Thursday Press Roundup

London shares outlook - higher after Wall Street gains; BoE rate decision due

Thomson Financial UK at a glance share guide

BWNG buy - target 345 from 315 - ABN Amro
EMG reiterated overweight - target 655 from 560 - Morgan Stanley
EZJ reiterated overweight - target 745 from 800 - HSBC
FENR upgraded to add from hold - target 235 - Dresdner Kleinwort
MAB buy - target 880 from 770 - Goldman Sachs
MCB initiated buy - target 300 - Deutsche Bank
NXT buy - target 2750 - Panmure Gordon
PUB downgraded to neutral from buy - Goldman Sachs
SCTN reiterated equal-weight - target 585 from 570 - Lehman Brothers
WTB reiterated buy - target 2026 - Citigroup

Tokyo shares close slightly lower on profit-taking, ahead of options settlement

Morning all.

STOCKWATCH International Power seen lower as Q1 lands at bottom end of consensus

UK smallcap opening - Vividas gains after securing streaming deal

Tokyo shares close slightly lower on profit-taking - UPDATEUK smallcap opening - Retec Digital moves ahead on news of product development

FTSE opens modestly lowerUK smallcap opening - Matra Petroleum firmer after securing rig contract

STOCKWATCH Hammerson sharply higher on report KKR mulling bid

London shares open touch lower; BoE rate caution, miners weigh; Hammerson jumps

STOCKWATCH Vodafone reinstated 'buy' at Goldman Sachs, target 162 penceUK smallcap opening - Mariana Resources rises as it commences drillingUK smallcap opening - Pactolus up after dividend payment recommendation

UK smallcap opening - TXO lower after yesterday's profit warning

STOCKWATCH 3i up over 2 pct as FY net asset value figures beat estimates

EME 30 - 33p +4p

yesterday's "UPS" on the move up after news......


Increased interest in the Sugarloaf Project Area, ("Sugarloaf") Texas USA
-------------------------------------------------------------------------

* New Agreement signed with Texas Crude Energy Inc ("TCEI") covering a
sixteen (16) well program over Block A and Block B
* New working interest on any well in the 16 well program in respect
of Block A
* Working Interest increased from 6% to 18% on any wells in the 16
well program operated by TCEI in respect of Block B

Empyrean has entered an Oil & Gas Exploration And Development
Agreement with TCEI to participate in a new sixteen (16) well
program covering two projects, "Block A" and "Block B".

In Block A, TCEI has an interest through an Operating Agreement with
a major international oil and gas company ("Block A Operator")(name
undisclosed for confidentiality purposes and to preserve and protect
competitive advantage). In Block B, TCEI is the operator and
Empyrean already has a 6% working interest in this Block via a
previous agreement and its participation in the drilling of the
Sugarloaf-1 well.

The new agreement covers the next sixteen (16) wells to be drilled
on either Block A and / or Block B. The agreement provides for
Empyrean to pay 12.5% of costs to first production to earn a working
interest of 7.5% in wells drilled on Block A and to pay 20% of costs
to first production to earn a working interest of 12% in wells
drilled on Block B. Empyrean's agreement covering a pre-existing 6%
working interest in Block B remains unchanged and is in addition to
this new agreement......

BROKER CALL - HK Hutchison Telecom growth hinges on new ventures ex-India - CLSA

STOCKWATCH Rio Tinto down on profit-taking, but off lows as M&A rumours persist

UK smallcap opening - FDM Group gains after trading update

Metals - LME inventory data (Thursday)

UK small caps open higher, fuelled by commodity plays; Matra Petroleum up 12 pct

STOCKWATCH Carrefour gains on vague LBO talkMetals - Gold lower as weaker prices dampen sentiment

Metals - Copper falls as Chinese demand set to ease, Peru supply returns

London shares - midmorning features

STOCKWATCH Royal & Sun, Zurich Financial upgraded by Bear Stearns in sector note

Asian bourse roundup

Asian economic and corporate news summaryAsian stockmarket summary

Metals - Gold lower as weaker prices dampen sentiment UPDATE

US futures declineMetals - Copper falls as Chinese demand set to ease, Peru supply returns

London shares - midday features

Midday Market Roundup

UK small caps firm midday, fuelled by commodity plays; Matra Petroleum up 14 pct

Precious Metals Summary - London AM Fixings

STOCKWATCH Sabadell sharply higher on news of Unicredito stake buy

WALL STREET OUTLOOK Lower on overseas weakness; trade, jobless data awaitedWALL STREET OUTLOOK Lower on overseas weakness; trade, jobless data awaited

WALL STREET OUTLOOK Lower on April retailer sales, widening trade deficit UPDATE

Metals - Copper down on technical factors, lower cancelled warrants

RVA 85 - 90p +3.50p

on the bounce today, after a large buy trade earlier this morning
on the chart could be a double bottom forming as Indicators are at oversold

London shares - midafternoon features

STOCKWATCH Carrefour gains on renewed LBO talk, Arnault comments UPDATE

Metals - Gold extends earlier falls as dollar strengthens further

Precious Metals Summary - London PM Fixings

STOCKWATCH Friends Provident up 8 pct on Axa rumour

End-of-day Market Roundup

        JOKE OF THE DAY

Sean Connery was interviewed by Michael Parkinson, and bragged that
despite being 72 years of age, he could still have sex 3 times a night.
Cilla Black, who was also a guest, looked intrigued.
After the show, Cilla says, "Sean, if I'm not bein too forward,
I'd luv to 'ave sex with yer.
Lets go back to my ouse, we could 'ave a lorra fun.

So they went back to her place.
After a couple of drinks they went off to bed
and had an hour of mad passionate sex together.

Afterwards, Sean says, "If you think that was good,
let me shleep for half an hour, and we can have better shex.
But while I'm shleeping, hold my balls in your left hand
and ma willie in your right hand".

Cilla looks a bit perplexed, but says "Okay".
He sleeps for half an hour, awakens, and they have
even better sex than before.

Then Sean says, "Cilla, that was wonderful.
But if you let me shleep for an hour, we can have the besht shex yet.
You'll have to......." "I know Sean.
Yer want me to 'old onto yer bat 'n balls again. No problem hun".

Cilla complies with the routine.
The results this time are absolutely mind blowing.
Once it's all over, they have a drink, Sean lights a cigarette
and Cilla asks "Sean, tell me, dis 'oldin yer balls in one hand
and yer willie in de other - does it really stimulate yer that much?"

Sean replies, "No, not at all Cilla,
but the last time I shlept with a scouser,
the bitch stole ma wallet !"