Rolls Royce (RR.) have announced major job cuts but that they will not impact 2007 performance. Paragon (PAG) have announced a rights issue at a 90% discount so they're toast, and possibly the rest of the mortgage sector with them today. Conversely, Rightmove (RMV) have announced that their results will be at the upper end of analysts' expectations. Northern Rock (NRK) is selling its lifetime mortgage book to JP Morgan. British Energy (BGY) is reporting higher output.

There'll likely be some action on SCI Entertainment (SEG) today after the shocking trading statement they did their best to hide by issuing on the RNS at 6.18pm - although the 'working capital' issue has long been anticipated a number of shareholders in the event no bid transpired. At least it sounds like they've found the Yellow Pages section entitled 'Emergency Funding'. Speaking of which, the Google-bidding-for-YELL rumour is doing the rounds again in what is rapidly becoming a place-it-in-your-diary annual event. S&P see the European advertising market softening though.

Sage (SGE) had been downgraded to neutral from overweight with reduced target of 235 from 285 by JP Morgan.

Among the small caps NETeller (NLR) say they are trading in line.

The FTSE is currently being called up 9 at 6,231 by CMC. Dow futures are currently being called down 105 at 12,748 all but wiping out yesterday's 117 point gain. Asia's ugly with 1.5% to 2% losses on the major indices.

BROKERWATCH Icap started as 'neutral', Tullett Prebon as 'buy' at Goldman SachsBROKERWATCH SKF upgraded to 'overweight' vs 'neutral' by HSBC, target 130 skr

BROKERWATCH Ferrexpo upped to 'buy' in Deutsche Bank mining sector reviewBROKERWATCH BT Group upgraded to 'buy' from 'hold' at ING; target 335p vs 315Tokyo shares close at 26-month low as subprime fears return UPDATE

UK smallcap opening - Goldplat firmer as Ghana recovery plant fully operationalUK smallcap opening - Empyrean Energy up after 'significant' gas shows

UK smallcap opening - Ultima Networks rises after 'excellent progress' in H2CORRECT: Tokyo shares close at 26-month low as subprime fears return UPDATE

London shares open up after bounce in NY; Housebuilders rise on Bovis updateUK smallcap opening - Swallowfield rises after Czech plant opens

UK smallcap opening - NetDemensions up on e-learning order from Louis Vuitton

UK smallcap opening - NeTeller rises; confident FY to meet market expectations

BROKERWATCH Umeco upgraded to 'add' from 'hold' by AltiumUK smallcap opening - Puricore up on 11 mln usd Sterilox contract win in US

STOCKWATCH Danone, L'Oreal slide on ABN Amro downgrade to 'sell'

UK smallcap opening - Inion dips on in line revenue forecast

STOCKWATCH Rolls-Royce lower after it announces plans to cut up to 2,300 jobs

STOCKWATCH BAE Systems, VT Group fall after news of MoD carrier contract delayRPT UK smallcap opening - Venue Solutions dips on profit warning

UK small caps open lower in line with broader market, Ultima Networks gains

Metals - Gold steadies above 890 usd after hitting record high overnight

Metals - Copper up but some metals stall amid uncertainty over demand outlook

STOCKWATCH Elmu, Emasz down as MVM beats RWE in bid for Elmu stake

STOCKWATCH Nestle under pressure after sector rivals' downgradesMetals - Gold steadies above 890 usd after hitting record high overnight UPDATE

London shares - midmorning features

STOCKWATCH Northern Rock rises following 2.25 bln stg asset disposal