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Ebookers Online travel agency says its gross sales for the December quarter beat market expectations and January trading has begun well across most of its business. Courts household furniture said the weak dollar had hit sales and it was reviewing strategic options.

Monsoon fashion retailer said sales in the five weeks to January 3 were two percent up on the previous year, in line with its expectations of its Christmas trading performance.

News will be posted at approx 7:35am

 Monsoon (I), Sanctuary Group (F)

Ebookers Trading Update

00.01 Jan Rightmove House price Report

CLOSED

The stock market will be closed in observance of Martin Luther King Jr.'s birthday,

Infineon (Q1),

07.00 EMU Dec German Produce Prices m/m flat exp. 11.00 EMU Nov Trade Balance 7.5bn exp.

Croc@SnappyTrader.com  WWW.SnappyTrader.com

 Monsoon (I), Sanctuary Group (F)

Ebookers Trading Update

00.01 Jan Rightmove House price Report

CLOSED

The stock market will be closed in observance of Martin Luther King Jr.'s birthday,

Infineon (Q1),

07.00 EMU Dec German Produce Prices m/m flat exp. 11.00 EMU Nov Trade Balance 7.5bn exp.

Bespak (I),

Aviva FY Sales 2.34bn exp.

09.30 Dec Harmonised CPI y/y 1.2% exp. 09.30 Dec RPI-X y/y 2.5% exp.

10.00 OECD Economic Survey of the UK

AMD (Q4), Citigroup (Q4), General Motors (Q4), Motorola (Q4), Unisys (Q4), Johnson & Johnson, United Technologies

18.00 US Jan NAHB Housing Market Index 69.0 exp.

10.00 EMU Jan ZEW Economic Sentiment 73.3 exp. 11.00 EMU Nov Industrial Production m/m 0.5% exp.

Somerfield (I) PBT 44.7m exp. GW Pharmaceuticals (F),

Cookson Q4 Trading Update

00.01 Treasury Committee Publishes Report on Budget Deficit 09.30 Bank of England Minutes Released 09.30 Dec Public Sector Net Borrowing 5.5bn exp. 09.30 Dec Preliminary M4 money Supply y/y 6.8% exp. 09.30 CML, BBA & BSA Mortgage Lending Figures

Computer Ass (Q4), eBay (), JP Morgan Chase (Q4), Lucent Tech (Q1), Merrill Lynch (Q4)12.00 US MBA Mortgage Applications (w/e 16/01) 13.30 US Dec Housing Starts 1955k exp. 13.30 US Dec Building Permits 1868k exp.

11.00 EMU Dec CPI y/y 2.1% exp. 11.00 EMU 3rd Quarter Revised Labour Costs y/y 3.0% exp.

Ex Dividend: Arla Foods (0.5), Baggeridge Brick (4.25), British Land (4.43), Burberry Group (1.5), Galen holdings (2.4), HMV Group (1.3), Heiton Group ( .07), Iaws Group ( 0.047), Imperial Tobacco (30), Kelda Group (8.1), Kleeneze (1), Lonmin (US$ 0.42), Northgate (7)

Ashtead Group (I) PBT 10m exp.

Enterprise Inns (AGM), Renishaw (I), Stanley Leisure (I)

Misys (I) PBT 45.7m exp. Prudential FY Sales 1.6bn exp.

Luminar Trading Update

St James Place Capital FY Sales Marlborough Stirling Trading Update

11.00 BCC Quarterly Economic Survey

Amgen (Q4), AT&T (Q4), Ford (Q4), Microsoft (I), Eastmen kodak

13.30 US Initial Jobless Claims (w/e 17/01) 345k exp. 15.00 US Dec Leading Indicators 0.2% exp.

Nokia (F), SAP AG (F), Siemens (Q1), KLM (Q3)

09.00 EMU Jan ECB Monthly Report

Burdene Investments (F)Wolverhampton & Dudley AGM & Trading Update,

BOC (AGM) Enterprise Inns (ETI) Stock Split Ex Date. Terms are 2 shares for 1 share held.

09.30 4th Quarter GDP q/q 0.7% exp. 09.30 Dec Retail Sales m/m 0.3% exp. 09.30 Dec Car Production 3m/3m

00.01 EMU Nov German Construction Orders (BBK) y/y

Alterian(I), Beale (I)

Games Workshop Group (I) Kensington Group (F)

ARM Holdings (F), Porvair (F)

Finsbury Growth Trust (AGM), Standard Life European (AGM), Abacus (AGM)

0930 BBA mortgage lending data 1430 Institute for Fiscal Studies green budget

Halladale Group (I)

Northern Rock (I), Fairbriar Group(F), ML Laboratories (I),

Invesco Recovery Trust 2005 (AGM) RM Group (AGM), Thirdforce (AGM) Trivest VCT (AGM) 10:30 GfK consumer confidence survey 

Ex Dividend:

Osmetech (I),

Crest Nicholson (I),

Landaround (F)

Gyrus Group (AGM), London Stock Exchange (AGM)

09:30 Dec consumer credit 09:30 Dec M4/M4 lending, revised

Allied Domecq (AGM) Forever Broadcasting (AGM) Slimma (AGM)

A quiet week ahead as far as large companies reporting with only Insurers set to inject life into FTSE. There is growing confidence that the sector is over the worst of a three-year slump. However in the States we have a slew of earnings from leading U.S. companies, including banking giant JP Morgan Chase, Microsoft and telecoms group AT&T

The market will also keep a wary eye on currency developments next week, with concerns mounting that the weaker U.S. dollar against sterling will force some companies to scale back their forecasts. Many companies have already said the weaker dollar has eaten into profits.MondaySanctuary Group one the UK's smallest listed record companies reports annual results. They produce records for several well know artists including Dolly Parton at a reasonable price so have not been affected by the freeloading of music over the Internet. That should help Sanctuary lift annual profits to 16.7m on sales of 160m.

Monsoon fashion group releases its half year results after a turbulent year in which the chain's founders battled with shareholders to move the group to AIM. Tuesday

Aviva, Britain's biggest insurer reports new business figuresWednesday

Somerfield are expected to produce sparkling results with profits of 14.3m against about 7.9m last time - an 81% increase, spurred by a stores refit programme.

Cookson electronics and ceramics releases fourth-quarter figures that should confirm that it is on track to meet market forecasts of profits of 25m for the year. The group is expected to report a pick-up in sales in its electronics division and a turnaround in sales in precious metals following a 4% drop to 75m in the last quarter. The largest of its 3 divisions is ceramics so signs of progress there should hold the key to the direction of the sahre price.

GW Pharmaceuticals reports annual results and is expected to report a loss of 10m. Shares fell on worries that the regulator has delayed approval of its cannabis-based multiple sclerosis medicationThursday

Stanley Leisure gaming group is expected to report profits of 2.01m against 24.7m previously. Investors will be looking for encouraging signs following large losses at its Crockfords casino to some of its major players followed by a profit warning.Misys software recently warned that poor performances by its banking and securities arm and healthcare operations would adversley effect first-half revenues. Analysts expect it to post profits of 45.7m for the six months compared to 56.2m at the same time last year.

Prudential and mid-cap wealth management firm St James's Place release sales numbers. Merrill Lynch and Dresdner Kleinwort Wasserstein said the sector's prospects looked to be improving after a prolonged period of underperformance and expect sales growth to pick up through 2004.

Renishaw precision engineers reports interims, they are specialists in spectroscopes including Raman microscopes. These are increasingly being used by gemologist to identify the mineral inclusion in precious stones. Renishaw was upbeat in October over the future after reporting higher turnover for the first three months of the year.

In the US the government releases the weekly number of people filing for unemployment insurance for the first time. Economists expect the number to rise slightly to 347,000, but stay well below the key 400,000 four-week average level. At 15:00 the Conference Board releases its closely watched leading indicators gauge. The index, which foreshadows economic activity in the next three to six months, is expected to rise 0.2 percent for December

Friday

Wolverhampton & Dudley painted an optimistic outlook at its last AGM and investors will be hoping for more of the same. Since posting sales growth of 3.6% in the year to September 30, the group has benefited from good weather and the Rugby World Cup, with a rise in like-for-like volumes of 3.1% at its managed pubs and 45% at its tenanted inns. BOC's AGM should confirm positive momentum in volumes and pricing, plus tentative signs of an improved order outlook for its semiconductor equipment supply business. Investors may be keen to hear if the group has changed its mind about making provisions for possible litigation compensation for 9700 welders over claims that manganese welding fumes gave them Parkinson's disease.

Thoughts

The FTSE and most of the other World markets finished higher last week with the S&P & DOW both wrapping up eight weeks of gains and almost 2 years highs. U.S. stocks look set to glide higher next week, as long as strong fourth-quarter profit reports keep on coming. However after Intel which beat earnings estimates but didn't lift guidance traded slightly lower suggested that high expectations are already factored into stock prices. Analysts seem to be split 50/50 on the future direction of the markets. Some analysts still feel that we are only in the early phases of a stock market recovery while others believe that the number of key companies issuing upbeat forecasts for the rest of the year will slow down.

Last week I was asked to explain my views on using Intraday charts to predict market direction. The FTSE chart above shows the importance of using these in conjunction with pivot points to establish support and resistance levels. We must remember that computerised trading systems are unaware that the market closes during the evening or even over the Weekend and they simply continue to trade the trend as if there had not been a break. This can help us trade the indices directly or give us guidance in taking out new positions and knowing where to take profits on the underlying tracker stocks such as Barclays and the rest of the top 50 FTSE stocks.

As always I look forward to your thoughts and comments on the week ahead!  David (Crocodile) David@SnappyTrader.com  www.SnappyTrader.com

All the above comments are purely a personal opinion and no investment advice is intended.  Please do your own research.

Headlines Sunday 18th January

BAE Systems The National Audit Office is expected to publish a damning report on them and the Ministry of Defence's 20 largest projects, criticising the department for cost overruns and delays to major projects. The report will single out four projects of particular concern - Astute, Nimrod, Eurofighter-Typhoon and Brimstone. BAE, which is involved in all of the projects, has had to make many provisions and redundancies over the programmes.Marconi's reliance on a raft of new contracts from British Telecom BT.L to boost its revival is under threat as BT has decided to award contracts to multiple providers as part of a "mix and match" approach. BT is preparing to spend billions of pounds upgrading its out-of-date copper-wire network, however the project could actually benefit Marconi's rivals - such as Nortel, Alcatel and Siemens.

Newspaper publisher Hollinger International has sacked media tycoon Conrad Black as its chairman.He is also being sued along with one of his top deputies for more than $200m. Transport Secretary Alistair Darling is preparing to announce the biggest shake-up of the rail system since privatisation. The Strategic Rail Authority is set to be largely stripped of its powers under the changes, expected to be detailed on Monday. The UK mortgage market was driven by people remortgaging, research has claimed. People wanted to get a better deal or to release cash from their property during 2003, analysts Datamonitor claimed. Royal Bank of Scotland has been identified as the most suitable candidate to buy Standard Life.

Judgement Day: Should you buy shares in Ted Baker? Sharewatch: Dobbies Garden Centres Directors' Deals: Boss snaps up cut-price M&S shares BP: oil price will stay high Share price has BP over a barrel Should you buy shares in Qualceram Shires?

Marconi Corporation Making millions from misery Prudential, Acquisitive RBS chief is in pole position to crack Egg

Marks & Spencer Taking it on the chin Shell Transport Group When will Watts come out of his shell?

Shell investors reject Watts' explanation

OBSERVER Hunters Leisure Black in new US legal drama Amec loses out to US in Iraq deal Get rid of Watts, say Shell investors Barclays job is sop to politically correct City

Will Emap's Zoo give lads more balls than Nuts? Shell shareholders seek reserves and answers

Hunters Leisure Barclay brothers in Telegraph bid Doubts over Invensys chief's future

MAIL ON SUNDAY BT at war in the boardroom, Feud as rivals vie for top job Manufacturers boosted by BAE rumour Pay vote shame for Standard chiefs, Policyholders 'to punish the board' Centaur Comms in 160m flotation, Magazine publisher seeks AIM listing Spirit puts 600m pubs on sale, Backers eye stock market flotation

Funeral chain in 100m market float, Big windfalls for Dignity bosses BOC boss walks away with 1.5m, Another generous payoff from gas group Casino group hits a losing streak, Stanley Leisure profits in 5m hit Sale in the offing for Tradeweb, Bonds trader in talks with suitors

Boots warns of more job cuts, Axe to fall on head office

INDEPENDENT  Ofgem set 'unlawful' terms for Powergen takeover Marconi revival threatened as BT casts the net wider Lloyds to be a bid- free zone till 2006 BAE in deep water over defence deals

A race against time to put success back into M&S Lloyds TSB Business View: US banking deals are big and bad and can't be ignored by the Brits RBS Business View: US banking deals are big and bad and can't be ignored by the Brits

SCOTLAND ON SUNDAY  Struggling Eurotunnel faces rebel showdown Share buying fans send Celtic stock soaring Walt Disney in hunt for SMG's GMTV stake Macfarlane speeds up non-core property sell-off New marketing chief for Royal Bank of Scotland

Aegon NV Sign of things to come in the 1% world

SMG and Scottish Radio Holdings under scrutiny GKN dismisses talk of BAE deal Leeds United faces deadline

SUNDAY EXPRESS EMI Two upgrades from brokers last week were music to the ears with the City increasingly confident that the three-year slump in the music industry was finally over. Fourth-quarter sales growth of 4.3% is believed to have been achieved through better releases, litigation against illegal digital downloads, the impact of digital downloading devices iPod and iTunes and an improving economy. The UK market is growing and the recent adoption of an EU copyright directive gives bodies such as the music industry the opportunity to sue illegal downloaders so growth rates may still improve. Buy at 230p. HMV last week buoyed investors with a strong festive performance - marked by a 52% rise in DVD sales. Analysts said the group has the edge in music compared to supermarket rivals and is poised for further growth. Buy at 189 3/4p. French Connection's robust wholesale business and a consumer recovery in the US will ease fears about weaker clothing sales over Christmas. Analysts think FCUK can continue to grow in the UK because of its strong brand and the group has also signed some exciting global licensing deals. Buy at 328p.

INVESTORS CHRONICLE Tips: Buy - Hilton (HG), Wincanton (WIN), Minerva (MNR), Fountains (FNT), Cardpoint (CASH) and Victoria (VCP).Updates: Fenner (FENR) - Good value. William Hill (WMH) - Buy. Coutts (CAH) - Fairly priced. Codascisys (CSY) - Buy. Shell (SHEL) - Buy.

SHARES MAGAZINE Plays of the Week: Buy - Bovis (BVS), ServicePower (SVR), Centrica (CNA). Sell - Bunzl (BNZL), Brown & Jackson (BRJK).

Croc@SnappyTrader.com  WWW.SnappyTrader.com