S&P Futures

U.S. investors were prepared to go bargain hunting after the recent market sell off. Hewlett Packard gains as earnings rise 34 percent and sales grow 12 percent.

Rentokil <Profit Warning> said its pre-tax profit this year would be "substantially lower than both 2003 and the current market expectations for 2004". They also said its chairman Clive Thompson was standing down.

Sainsbury said annual profits slipped 2.9 percent to 675 million pounds on sales up 2.4 percent to 15.5 billion pounds slightly below forecasts. Shareholders will receive a full year dividend of 15.69 pence compared with 15.58 pence last year and a planned return of 35 pence per share will follow an EGM on July 12.

Amec said trading was in line with its own expectations and it expected to see progress in 2004.

Compass Group posted an expected five percent rise in first half profit to 283 million pounds and said it was on track to meet its full-year financial targets.

Mitchells & Butlers reported a 5% fall in in half-year profits 88 million pounds at the top of forecasts. Strong first-half sales trend had continued through April and into early May.

Scottish & Southern reported a 9% rise in annual earnings with an EPS pf 54.1p that broadly met forecasts, and said prospects for future growth were good.

Persimmon the UK's largest housebuilder said trading had been excellent so far this year, with its forward order book ahead of the same time last year. "The number of homes forward sold is 17% ahead of last year and average selling prices are up circa 12% at 169,000"

Shaftesbury which which rents out property to restaurants and shops said first-half pre-tax profits rose 18% to 7.55mas more settled trading conditions returned to the west end of London.

Compass Group (I), BAA (F), Holidaybreak (I), Mitchells & Butlers (I), Aveva Group (F), LiDCO (F), Sainsbury (F), Baggeridge Brick (I), Scottish and Southern Energy (F), Freeport (EGM), Advanced Medical Solutions (AGM),  Amlin (AGM), Bunzl (AGM), Harrier Group (AGM), Rutland Trust (AGM), TT Electronics (AGM), Persimmon (Trading)

BoE Minutes of May 5/6 MPC Meeting (08:30)

Goodyear Tire & Rubber Co ADC Telecommunications Computer Associates International Big Lots, Intuit

Ex Dividend: Aberdeen Asset Management 80.50 2.00 2.48%, Boot (Henry) 406.00 10.80 2.66%, Collins Stewart Tullett 425.75 5.25 1.23%, DFS Furniture Company 442.00 7.00 1.58%, Hercules Property Services 281.50 1.60 0.57%,hcape 1525.00 26.00 1.70%, Metnor Group 230.00 6.00 2.61%, Spectris 477.00 9.30 1.95%, Ted Baker 437.00 6.40 1.46%, Tullow Oil 101.50 1.00 0.99%, TT electronics 149.00 6.36 4.27%, UK Coal 138.50 5.00 3.61%, Unilever 528.00 11.92 2.26%, Universe Group 26.00 1.17 4.50%

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