Hello traders!

Financial issues seem set to dictate proceedings this week, with the BoE interest
rate decision on Thursday colouring early sentiment. Most pundits I have either
read or spoken with anticipate rates will be held at 5.75%. But, you never know..

The banking reporting season reaches a climax this week with HSBC, Lloyds TSB,
Royal Bank of Scotland and Barclays all slated to produce numbers. All eyes will be
on how they are coping with rising bad debts and a weakening US dollar.

HSBC kicks off the bankers' week and the portents are not good.

On the M&A front, there are plenty of stories due for an upgrade...

ICI are reportedlly upping their defence against the recent approach from Dutch
rival, Akzo Nobel.

Sainsbury also looks as though it is trying to raise the drawbridge as it seeks to
elicit more detail of the Qatari bid for its stock; the family appearing to be
wavering about whether the offer is good for them or not. Whether it is good for
the substantial number of indepenent shareholders seems to have been overlooked.

The opposing bidders for ABN Amro are also in the spotlight, with the Dutch banker
understood to be impatient to achieve a solution to the apparent standoff between
Barclays and the RBoS consortium. There are noises in the City suggesting that
Amro will withdraw support for both bids, effectively inviting a new approach from
an alternative suitor.

It is certainly going to be a busy week, even without the ongoing trauma in the US
ahead of an important week of statistics which could set the tone for the rest of
the summer.

Thanks, as always to Supermum, Kyoto and Digger for their continued support
and input to the Traders Thread.

Good hunting!

G.

Morning all. Friday's market reports:

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

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Hang Seng ended the morning down 10.94 points at 22,559.47,
while the Nikkei was recently off 127.28 points at 17,156.53.

Crude oil for September delivery fell 37 cents to $76.65 a barrel Monday, after
rising $2.07 to close at $77.02 a barrel on the New York Mercantile Exchange
Friday.

Happy trading!

G.

BROKERWATCH BG Group raised to 'hold' from 'sell' at ING on valuation groundsBROKERWATCH Shire upgraded to 'buy' from 'neutral' at Merrill Lynch; tgt 1,370pRPT TFN economic and business calendar to Friday Aug 10Thomson Financial UK at a glance share guideLondon shares outlook - higher, as BoE rate decision provides the week's focus

Australian shares close higher on support from big miners

BROKERWATCH Bradford & Bingley upped to 'overweight' at Lehman BrothersBROKERWATCH Northern Rock cut 'equal-weight' vs 'overweight' by Lehman Brothers

Australian shares close higher led by miners - UPDATE

BROKERWATCH Marks & Spencer upgraded to 'market perform' by Sanford C BernsteinLondon shares open lower, global markets down, BoE rate decision Thursday key

STOCKWATCH Pearson up after results beat expectations; UBS maintains 'buy'

Tokyo shares close little changed; bargain hunting cuts early losses - UPDATE

BROKERWATCH Fortis in focus as registration deadline nears for fundraising voteUK smallcap opening - Infonic surges after raising H1 revenue guidance

BROKERWATCH Akzo Nobel raised to 'buy' from 'hold' at Rabo Securities

STOCKWATCH Alliance & Leicester rises; Citigroup ups to 'hold' from 'sell'

STOCKWATCH Henkel higher as agreement with Akzo Nobel seen helpingSTOCKWATCH ICI jumps on improved 650p/share Akzo Nobel approachUK smallcap opening - Creston higher; FY trading seen in line with expectations

BROKERWATCH Rentokil Initial kept as 'buy' at Seymour Pierce after acquisition

Good morning all, one for the "UPS" ......

UPS (Added by Master RSI on Mon 30 Jul 09:28 am)

FAN - Mid 102.5p

Reason -- Very positive statement this morning

STOCKWATCH ICI jumps on improved 650p/share Akzo Nobel approachMetals - LME inventory data (Monday)

OUTLOOK SABMiller to continue strong momentum in sales volumesSTOCKWATCH HSBC shares up over 2 pct after H1 pretax profits beat expectations

UK small caps firmer in early deals; Infonic surges after hiking H1 guidance

FAN 103 - 107p +11p

It seems there was an early recomendation this morning after the news from ....... DS

First Artist - BUY

Price: 94p Target price: 174p Analyst: James Hollins
First Artist

Positive trading update

First Artist has released a positive trading update. Following a weak share price run, the shares are significantly undervalued.
The group highlights record trading during June for both The Finishing Touch (event management division) as well as its wealth management operations, Optimal.

The bullish tone encompasses all divisions, with Dewynters, the largest division, continuing to make a strong contribution, Newman Displays trading is very buoyant and First Artist Sport (sports agency) is performing well.
The Finishing Touch has exceeded the terms of its earn-out targets and First Artist is therefore issuing the second tranche of shares (43k shares) and 430k of loan notes.
Overall, management states that trading is strong and in line with its expectations.

On this basis, we retain our forecasts of 13.26p earnings to FY07E (August period-end) and 15.66p to FY08E. With the shares standing at just 7.1x FY07E EPS (6.0x FY08E), we retain our Buy recommendation and 174p target price (85% upside).

Metals - Gold edges higher as dollar weakens

STOCKWATCH Pearson rises after results; Panmure Gordon ups to 'hold' from 'sell'STOCKWATCH HSBC shares up over 2 pct after H1 pretax profits beat expectations

OUTLOOK BA to post lower Q1 revenues, offset by savings in staff, fuel costsSTOCKWATCH Akzo Nobel up after ICI rejection of higher bid, Rabo upgrade

Metals - Copper up as strong demand, supply fears inspire buying into dips

Metals - Gold edges higher as dollar weakens UPDATELondon shares - midmorning features

OUTLOOK Woolworths update to show improving sales trend

Metals - Copper up as strong fundamentals inspire buying into dips UPDATE

OUTLOOK Unilever sales to slow in Q2 as tougher comparatives, bad weather bite

US futures point higher

STOCKWATCH ABN Amro slightly up on good Q1 as investors digest bid neutrality

Precious Metals Summary - London AM FixingsLondon shares - midday features

UK small caps higher at noon; Xansa surges for second day; Woolworths falls

Midday Market Roundup

OUTLOOK William Hill H1 marginally up on last year as FOBTs drive retail growth

OUTLOOK Lloyds TSB profit seen up 14 pct

FOCUS Eni faces potential huge losses from review of Kashagan oilfield deal

OUTLOOK Fortis EGM to back capital increase in face of hedge funds' oppositionMetals - Gold steady, supported by dollar weakness, ahead of Wall St opening

Metals - Copper steady as market awaits Wall St opening; tin hits fresh high

London shares - midafternoon features

RPT FOCUS Eni faces potential huge losses from review of Kashagan oilfield deal

Precious Metals Summary - London PM Fixings

STOCKWATCH Cairn Energy firmer after Cairn India results; Citigroup keeps 'buy'

BROKERWATCH Vedanta target lifted to 2,000p at Merrill Lynch

RPT OUTLOOK Woolworths update to show improving sales trend

End-of-day Market Roundup