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U.S. stocks came of the highs, but still in positive territory at the close. Aviva said on Friday it expects its 2003 operating profit to exceed market expectations, following a strong second-half performance across its life and general insurance operations. They said profit, was expected to be around 1.9 billion pounds against 1.7 billion in 2002, and ahead of a market consensus EasyJet reported a 12.3 percent rise in January passenger traffic and said its prudent growth strategy meant it did not have to change its "cautiously optimistic" outlook. Moss Bros said its Chief Executive, Adrian Wright, has stepped down "to pursue other interests". The announcement came with a trading statement that said like-for-like sales in the year to January were flat, with gross margins up seven percent. British Airways, Eddington to cuts jobs and fares to fill planes

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HMV (I), Alumasc Group (I), Rolls-Royce (F) Barclays (F), London Bridge Software (F) (09:30) UK Q4 housebuilding data	1

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Just received a message from CMC - they are evacuating the building due to a fire alarm - nice to see someone stopped for a second to let us know!

News from the US:

Nonfarm payrolls increased by 112,000 in January, after an upwardly revised increase of 16,000 jobs the previous month, the Labor Department reported.

The data caught the market by surprise, with some saying that Thursday's rise in the dollar had priced in an even higher number than the 160,000 increase forecast by economists surveyed by Dow Jones Newswires and CNBC.

Meanwhile, the unemployment rate fell to 5.6% in January from 5.7% in December.
"People set themselves up for a huge upward surprise, and they just didn't get it," said Lauren Germain, foreign-exchange strategist at Bank of America in New York. "Expectations kept moving up as the moment got closer and closer."

The dollar, which had traded up to two-week highs against the yen around Y106.75 but was stuck in a tight range against the European currencies, tumbled after the release of the data before stabilizing a bit.

The euro surged about a cent to an intraday high around $1.2630, while the pound gained more than half a cent to $1.8416.

Early Friday in New York, the euro was trading around $1.2593, up from $1.2535 late Thursday in New York. It was higher against the yen at Y133.76 from Y132.80.

The dollar was at Y106.18, still above Y105.91 from late Thursday. Against the Swiss franc, it was lower at CHF1.2454 from CHF1.2511, while sterling was up at $1.8400 from $1.8326.

Higher lows a sign?

Hi Testex,

Watching SHEL. Wonder if the 330p you were thinking of
will come to pass?

Hi TP, my swing chart did give a cautious buy signal
as I posted on Wednesday.
Thursday was an inside day so gave no signal.
Still unsure of this, so keeping positions light
until the US makes up its mind which way it will
lead the World's markets.

There's no rush to lose money on a bad call.

Melnibone

Thanks for the info Testex, but I don't trade small stocks.

I like to play the liquid Ftse 100 stocks and use the index,(UKX),
as a straight short or a hedge.
Been quietly successful at this for just over a year now.

Been watching the US markets and the DAX to get a feel for
how they trade, and may branch out to try trading these in the
evening.

All things in good time though. There's no rush to make mistakes
and feed the market.

Melnibone.

what a great end to the week:) futs still toying with 80 for longer term direction! 05 ish cash

Does anyone know why AVZ not moving today?

Melnibone, Finspreads are worth checking out. Their service level is very good and the trading platform is fine.

I am also looking at trading the Dax.

FTSE at 4.30 closed at 4402 up 17.6 points..

Post auction, the FTSE closed at 4402.7 Up 18.3.... no clues there then!

Thanks for that snoball,

I'll check them out.

I've been trying out the Capital Spreads simulator, the interface
seems easy, but the charts and market quotes don't tie in with
what's really happening. They're different to the real market
prices and action, so it's like trying to play a computer game
rather than trade. Nothing is real.

Melnibone.

Thanks DK2 - for posting the closing prices over here.