LONDON (AFX) - Leading shares are set to open the session flat as the market pauses for breath after 200 point plus gains last week with continued bid fever in the weekend press offset by caution ahead of the Bank of England's rate decision on Thursday, dealers said.
According to spread bettor firm CMC, the FTSE 100 is seen opening 1 point higher at around 5425, after closing on Friday at 5423.6, and having notched up its biggest weekly gain in 2-1/2 years.

MARKETS
Tokyo: Nikkei midday 14,061.60 down 14.36
Hang Seng midday 14,369.80 down 215.99

TODAY'S PRESS
* CBI urges Brown to fix 10 bln stg 'black hole' in public finances; employers steer collision course with chancellor - FT
* Royal Dutch Shell projects 'over-reliant' on contractors; concern that handing over critical exploration and production functions is linked to spiraling costs - FT
* Steel company valuations poised for a fall as increased Chinese output is cutting its reliance on imported supplies; China, for long the main driver of surging demand, making more of its own steel, causing a potential excess of supply in other parts of the world - FT
* Hargreaves Services, the UK's biggest independent importer of coal, planning to float on AIM - FT

PRESS COMMENT
FT
THE LEX COLUMN comments on Hedge fund returns (these are driven more by beta than alpha), Capital accounts, Italian economy (it would be fitting if one of Berlusconi's parting gestures was to impede his successor's ability to act where he has not)
Independent
Small Talk: Stephen Foley comments on Boustead, Trakm8 (will be valued at one-third of the value it hoped for when it began planning for a float in May), First Artist (doing well), Hargreaves (joining AIM)
Times
Luminar (Alchemy Partners understood to be in exclusive talks to acquire the entertainment division of Luminar)

Good morning all.

End-of-day Market Summary

a very late hello!