Drax (DRX) says they are trading in line, but have had to scrap their refinancing plans because of debt market conditions. Ofcom isn't happy about the pay-TV market - who is - this might effect BSkyB (BSY) today as they were the reason for the complaint, although their shares have been pretty resiliant in the past to such accusations.

Among the mid-caps the boot's on the other foot as Sports Direct's (SPD) Mike Ashley sells The Original Shoe Company to his friend at JJB, and he might be considering not blocking Nike's bid for Umbro (UMB). Cookson (CKSN) say they expect their full-year results to be at the upper end of expectations. Former QXL Tradus (TRAD) have agreed to a recommended cash offer at 1800 - a pound per share higher than rumoured in the weekend press. Widely followed ReneSola (SOLA) has released a trading statement with another supply deal.

Rentokil (RTO) has been downgraded to neutral from buy by UBS with a big price target cut from 185 to 125. Cairn (CNE) has been downgraded to hold from buy by SG Securities in an oil sector review which means there are probably other notes out on other mid-cap oil companes.

FTSE is currently being called down 9 at 6268 by CMC. Dow futures are up 58 at 13,225 after the 172 point fall yesterday. Australia's ASX200 managed something of a comeback today after initially going down 160 points, and the Hang Seng is actually positive with a 0.6% rise.

Thomson Financial UK at a glance share guide

UK smallcap opening - Playgolf firms on placing with JV partner Kilmartin

BROKERWATCH Cairn Energy cut to hold by Societe Generale in sector reviewLondon shares open lower, investors await UK CPI inflation figures

UK smallcap opening - Interactive Prospect runs back on UK revenue warning

UK smallcap opening - Kingspan down on earnings growth caution

UK smallcap opening - Slimma slides on swing to FY operating losses

UK smallcap opening - Character rebounds after yesterday's H1 sales warning

Metals - Gold steady as recovery in dollar offset by higher oil prices

Metals - Copper continues below 6,400 usd on slowing demand

Metals - Copper continues below 6,400 usd on slowing demand UPDATE

London shares - mid-morning featuresMetals - Platinum hits record high on expectations of tighter market in 2008

BROKERWATCH Philips, Roche added to Merrill Lynch's preferred healthcare listThomson Financial News at a glance - Today's UK, European broker recommendations

STOCKWATCH Drax sharply down on bearish update; cautious at Dresdner Kleinwort

Paris shares higher midday; US futures point higher, Goldmans profits in focus

US futures heading higher today

WALL STREET OUTLOOK Rebound seen as credit fears ease; Goldman earnings awaited

London shares - midday features

UK small caps edge lower midday; Slimma slumps after a swing to FY losses

Midday Market Roundup