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News Headlines:   U.S: Stocks stage late-day rally as buyers enter the market in the last hour of trading on the back of better data. The day's upbeat economic from the Commerce Department said gross domestic product rose 3.1 percent in the second quarter, better than economists' expected 2.9 percent and up from an earlier estimate of 2.4 percent.

The FTSE 100 index is set to rise following the late rebound on Wall Street. On the economic front, weekly U.S. jobless claims are due out at 1:30 p.m. with the final Michigan Consumer sentiment survey out at 1345 GMT.National Grid: The power lines operator is in the firing line after last night's power failure that hit parts of London and the South East, the Daily Mail reports.Glaxo: Europe's biggest pharmaceutical company, said late on Thursday the U.S. Food and Drug Administration had approved sales of Wellbutrin XL, a once-daily version of the company's antidepressant pill. Glaxo said it expects Wellbutrin XL to be available in pharmacies by mid-September.British Airways: slashed the commisssions it pays to travel agents as part of the airline's cost cutting drive, said the Times. Royal Sun Alliance The Guardian said there was market talk that the UK insurer is considering a 2 for 3 rights issue at 100 pence which will be announced along with next week's resultsPsion said it plans to increase its stake in mobile phone software developer Symbian to 31.1 percent for 17.4 million pounds from MotorolaRegus said it planned to exit bankruptcy protection in the United States earlier than expected after it successfully restructured its U.S. operations.Greene King regional brewer and pubs group said that trading in the first 12 weeks of its financial year was a little ahead of expectations across all areas of its business. With like-for-like sales rose 1.2 percent at its managed pubs which had not benefited from recent investment.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Fri 29th Aug	London & Boston (F), Morse (F), NSB Retail Systems (I), Stagecoach (AGM), Westbury (I), Regus, Psion Greene King (AGM), 06.00 August Nationwide House Price Survey m/m	13.30 July Personal Income 0.2% exp 13.30 July Personal Spending 0.8% exp. 14.50 August Final Michigan Sentiment 90.4 exp. 15.00 August Chicago PMI 55.0 exp.	07.00 German Gfk Consumer Confidence 11.00 EMU August Flash CPI y/y 2.0% exp.
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