"Investec has downgraded UK defence contractor BAE Systems from buy to hold, saying that while third quarter trading was in line, uncertainties have persisted as expected.

The broker says that a lot of bad news is already price in, with the trading on a 6.6 times forward earnings.

"But with potentially (positive and negative) price-moving events coming up we move to a neutral stance," given that the shares have moved close to its 300p target price."

Another Xmas punt bought on spread bet for no magical, technical or fundamental reason other than stock has rallied in December for the last 4 years :O)

Entered last Friday 2nd @ 274.6 initial target 290.0 stop 269.6

img src="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=BA.&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR4&MA=50;200;&EMA=&OVER=AreaBB;&IND=VOLMA;MACD;SlowSTO;AreaRSI;&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0">

Above supposed to be a 4 year chart, somehow managed to make a orchestral stalls of copying and pasting it.

Looks fine except you forgot to add the first < command.

Got it this time, looks a mess. :O) Stop to entry for risk free trade.

Stopped out at the open, straight back in :O)

Stop to initial target to lock in + 15.4

Buy order triggered on the spreads today @ 293.7 Target 420.0.

420????? Greedy or mega optimistic!

Fat finger Harry target 320.0 :O)

Stop to entry for risk free trade.

Chris, that was good timing,You got in at the lows of the day.

Cheers goal, actual buy order was 292.0, opened @ 292.4 add in the spread from Caps platform hence 293.7 :O)

Stop to 298.7 to lock in + 5.0

Closed @ 311.7 + 18.0

India picks French jet over Eurofighter in $10bn deal

French firm Dassault has emerged as the lowest bidder for a $10bn (£6.3bn) contract to supply India jet fighters.

Dassault Aviation, as preferred bidder, will now enter final talks before signing a deal that will supply India's air force with 126 Rafale aircraft.

Correspondents say this is one of the world's biggest defence deals and is a major setback for rival bidder, the Eurofighter Typhoon.

Typical, cheapskates. Went short yesterday @ 314.0

Dare I ask - how is the (not) smoking going!