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News Headlines:   US stocks managed to close with fresh multi-month highs despite last-minute profit taking thanks to buying in technology and optimism about the economy.

Royal & Sun Alliance Insurance says it will raise 960 million pounds in a deeply discounted rights issue to help shore up its balance sheet. RSA.L is offering one new share at 70 pence per share for every existing share held. The issue is fully underwritten, it added. The company also said first-half operating profit rose to 351 million pounds from 301 million a year earlier, roughly in line with market expectations. But it warned that a review of its general insurance operations may lead it to increase provisions by up to 800 million pounds in the third quarter.

Northern Foods said that first-half profits would fall significantly because of tough trading in its convenience foods business and that its chief executive was leaving the firm.The group, which makes own-label ready meals, quiches and desserts for retailers such as Marks & Spencer MKS.L , said Chairman Peter Blackburn would become executive chairman until a replacement had been found for chief executive Jo Stewart.

Arriva British bus and train operator posted an 18 percent rise in first-half underlying pre-tax profit to 51.1 from 43.4 million last year and said it would continue to focus on targeted acquisitions and share buybacks.

Diageo the world's biggest wines and spirits group, reported a four percent fall in underlying operating profits to 2.029 billion pounds but said it saw signs of trading improving in North America, Britain and Spain.

International Power says first-half profits fell sharply from a year ago, near the bottom of market expectations, as electricity prices fell in its main markets. The company, which is front runner in a bid battle for control of Britain's largest power station Drax, said earnings per share in the half fell to 5.1 pence from 9.9 a year ago before exceptional items with analysts forecast between 4.9 and 6.0 pence.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Thursday	Diageo (F) PBT 2120m exp. International Power (I) PBT 91.6m exp. Royal & Sun Alliance (I) PBT 356m exp. Amlin (I), Arriva (I), Ask Central (I), Axis-Shield (I), Davis Service Group (I), Easynet Group (I), Eidos (F), Intercare Group (I), Intertek Group (I), Mowlem (I), Rathbone Brothers (I), Tullow Oil (I), Wilson Connolly (I) 00.01 Aug BRC Shop Price Index 12.00 BOE Rate Announcement	13.30 Q2 Final Non-Farm Productivity 6.3% exp. 13.30 Initial Jobless Claims (w/e 30/08) 395K exp. 15.00 Aug Non-Manufacturing ISM 62.0 exp. 15.00 July Preliminary Factory Orders 0.8% exp.	Cap Gemini (I), Pinault-Printemp (I), Suez (I) 08.55 Aug German Unemployment 10k exp. 11.00 July German Preliminary BBK           Factory Orders m/m 0.4% exp. 12.45 ECB Rate Announcement
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