Good morning traders!

In the US Friday, the Dow lost 46 points at 9,686, the Nasdaq Composite fell 10
points at 2,092 and the S&P500 shed 5 points at 1,023. US markets will remain
closed today for the Independence Day public holiday.

In Asia today, the Nikkei was last up 66.86 points at 9,270.57, while the Hang
Seng ended the morning off 45.38 points at 19,859.94.

Crude oil traded at $72.63 a barrel on Nymex.

Happy Monday!

G.

One for the "UPS" selected yesterday .........

Master RSI - 4 Jul'10 - 19:35 - 1 of 19 edit
POL 3.575p ( 3.55 / 3.60p )
Reason : Super large volume last Friday with news just before the close that a special 3p dividend could be paid
to shareholders as is trying to sell its shareholding in one of its portfolio assets

Another for the "UPS" selected yesterday .........

Master RSI - 4 Jul'10 - 20:18 - 2 of 19 edit
RPT 29.25p ( 29 / 29.50p )
Reason : News last Friday of the previous order to suspend the gas production has been thrown out, and production has been going on even at the time of the order.

Midday Market Overview

One more for the "UPS"

PHTM 33.25p ( 32.50 / 34p )
Reason : Results due on Wednesday and the company already said that they will be 20% better than expected by market. Rising Indicators.

PHTM

Published Date: 04 July 2010 -- By Martin Flanagan -- City Editor

PHOTO-ME, the photo booth maker fined 500,000 earlier this month by the Financial Services Authority for making misleading statements to the market, will continue its bridge-building efforts with the City this week with an expected hike in annual profits.

The company, which at one time became known for its serial profits warnings, incurred the "largest fine of its type" on 21 June for retaining vital trading information that led to what the regulator called "a false market in Photo-Me's shares for 44

The FSA said the firm had information in January and February 2007 that it was no longer in exclusive discussions for a contract for its "minilab" processing equipment and that minilab sales were below expectations. But Photo-Me did not issue a profit warning until 2 March that year.

However, Photo-Me is expected to show a continued trading resurgence when it reports annual results this Wednesday, having said in an update earlier this month that it expected full-year underlying pre-tax profit to be "at least" 20 per cent ahead of market expectations.

Broker Hardman & Co said that following this guidance it had upgraded its profit forecast to 12.9m from 10.5m on sales of 226.8m, with a dividend payment of 0.5p restored. There was no shareholder payout the previous year when Photo-Me made a profit of 1.6m on sales of 210.5m. Analyst Roger Hardman said in a recent note that he expected an improved performance from KIS, the company's sales and servicing division, "where there has been a great effort at cost reduction".

The note said that the company had probably benefited from the "successful re-siting of photo booths and other machines into higher throughput locations. In particular, Photo-Me suffered at the end of the previous year from the failure of Woolworths in the UK".

Hardman said the group would also have benefited in the year to end-April from more beneficial exchange rates between sterling and the euro, with 48 per cent of the company's revenues in 2009 coming from Europe.

Photo-Me said after the regulatory ruling that it was disappointed with the size of the fine and that the FSA had underestimated the difficulties the company faced in updating the market on the possible outcome of the contract negotiations. It said it would not appeal as it was "not in the best interests of shareholders to incur further legal costs"