Good morning traders!

Well, US markets restricted losses last night and the price of oil is easing in Asian markets this morning on news of action by Norway to solve the shipping dispute threatening supplies. I hope those are good enough signals to give the FTSE a boost today. The US dollar eased slightly too, which is a mixed blessing.

At least today there will be some earnings to get into today with BATS and BP both reporting interims and WPP coming up with a trading update.

Interims from Hitachi Capital usually make pleasant reading and finals from Regent Inns will be studied closely this morning to give another view on the pub sector.

MARKET EXPECTATIONS

BP Q3 net income $4.17m-$4.22m, up 48%; Q1 dividend 7.1 cents, up 9%.

British American Tobacco Q3 pretax profit 530m-540m vs 532m.

Regent Inns. Arbuthnot forecasts year to June pretax profit 12m vs 14.4m; total dividend 3.5p vs 5.2p.

Surfcontrol. Baird Securities forecasts three months to September pretax profit $3.7m vs $3.7m.

TTP Communications. Baird Equities forecasts six months to September pretax profit 240,000 vs loss 5.3m.

Westbury. Williams de Broe forecasts six months to August pretax profit 57m vs 51.1m; interim dividend 5.7p, up 12%.

Happy trading!

G.

morning all

FTSE 100 4,564.5, down 50.9
FTSE 250 6,241.6, down 45.6
DJIA 9,749.99, down 7.82
Nasdaq Comp 1,914.04, down 1.10
S&P 500 1,094.80, down 0.95
Tokyo: Nikkei closed at 10,672.46, up 13.31
Hang Seng midday 12,814.15,down 3.95
Gold 428.22 usd (423.45 usd)
Oil - Brent Dec 50.78 usd (51.2 usd)

BREAKING NEWS
* Lakshmi Mittal, the Indian entrepreneur, announces plans to create the first truly global steel company through the merger of his existing assets and a 2.4 bln stg takeover of International Steel Group of the US - FT
* Allan Leighton close to stepping down as chairman of online travel and leisure group LASTMINUTE.COM with a successor expected to be named shortly - FT
* A report alleging overbilling by MM02, BT GROUP's former mobile arm, has been filed to regulator Ofcom - FT
* Attempted takeover of MANCHESTER UNITED by US sports tycoon Malcolm Glazer dealt a severe blow as the club's board ends discussions - FT
* SOMERFIELD links with property tycoon Robert Tchenguiz to buy 114 Safeway stores from WILLIAM MORRISON
* BHP BILLITON agrees to invest 542 mln stg in a copper mine in Chile
* FRIENDS PROVIDENT understood to be in advanced talks to acquire Lombard International Assurance, in a move that values the pan-European life assurance company at between 173 mln stg and 346 mln - FT
* Ex SCOTTISH & NEWCASTLE chiefs - Bob Ivell and John Leslie - poised to take the helm at REGENT INNS - FT
* Two of the world's biggest internet gambling companies - iGlobal-Media and Cassava Enterprises - considering IPOs in London, the larger of which -iGlobal - could go straight into the FTSE 100 index - Times

PRESS COMMENT
FT
THE LEX COLUMN comments on International Steel merger with Mittal, EASYJET (until either oil prices fall or industry capacity is reduced it is too early to call spring), US dollar, BBVA
Times
RUMOUR OF THE DAY: STANLEY LEISURE (murmurs it is talks with a Malaysian hotel operator to fund the development of its proposed 125 mln stg casino complex in Leeds) - DEAL OF THE DAY: CARILLION (director sells 170,000 shares at 213 pence) - TEMPUS: WARNER CHILCOTT (hold), SOMERFIELD (no more than a hold), ST IVES (dividend yield of 5 pct makes the share attractive enough to buy)
Guardian
KESA (bid speculation)
Independent
THE INVESTMENT COLUMN: ITV (long-term investors should avoid putting ITV into their share portfolios), BRAEMAR SEASCOPE (keep buying), ALTERIAN (hold)
Express
WHO'S DEALING: INCHCAPE (director buys 3,000 shares at 1,487 pence) - SHARE WHISPER: IMS MAXIMS (dealers suggest it could benefit from concerns that major suppliers might fail to live up to expectations supporting the massive NHS programme for IT; IMS is also seen as a potential takeover target) - BROKER'S VIEW: FLOORS-2-GO (Seymour Pierce sell)
Telegraph
QUESTOR: SOMERFIELD (buy), UNITED BUSINESS MEDIA (although a little pricey, existing shareholders would be wise to hold on), SOUTH STAFFORDSHIRE (sell)
Mail
ADDLEISURE (should benefit from the growing concern over health and fitness issues)

Morning punters!

EXL - trading as expected
http://www.uk-wire.com/cgi-bin/articles/20041026070000P89B9.html

ELA - settlement to US court case
http://www.uk-wire.com/cgi-bin/articles/20041026070000Z5978.html

CPR - trading statement seems OK
http://www.uk-wire.com/cgi-bin/articles/200410260700024542E.html

AFD - digging for diamonds with De Beers
http://www.uk-wire.com/cgi-bin/articles/200410260700034550E.html

AMR - pretty much met very good expectations
http://www.uk-wire.com/cgi-bin/articles/200410260700044572E.html

BWE - small mortgage outfit doing OK?
http://www.uk-wire.com/cgi-bin/articles/200410260700044578E.html

HCU - steady. Decent chart, retesting break last week
http://www.uk-wire.com/cgi-bin/articles/200410260700054583E.html

ADN - disposal
http://www.uk-wire.com/cgi-bin/articles/200410260700074588E.html

TTC - returns to profit, but chart looks s**t ;-)
http://www.uk-wire.com/cgi-bin/articles/200410260700084602E.html

ITL - contract
http://www.uk-wire.com/cgi-bin/articles/200410260700094607E.html

WGB - first profit in several years. Hmm
http://www.uk-wire.com/cgi-bin/articles/200410260700104608E.html

CLV - yachting anyone?
http://www.uk-wire.com/cgi-bin/articles/200410260700114615E.html

SRF - not quite made it?
http://www.uk-wire.com/cgi-bin/articles/200410260700124618E.html

WBY - interims look OK. Chart got a nasty H&S if it can't hold 360p
http://www.uk-wire.com/cgi-bin/articles/200410260700144619E.html

CBM - on a roll recently. Expenses gone through the roof
http://www.uk-wire.com/cgi-bin/articles/200410260700214632E.html

HNR - Mauritania update
http://www.uk-wire.com/cgi-bin/articles/200410260700304659E.html

TPA - contract win. Nice chart if this news gives it an early move up
http://www.uk-wire.com/cgi-bin/articles/200410260700324667E.html

REG - not much good news for pube sector there, G
http://www.uk-wire.com/cgi-bin/articles/200410260701014630E.html

I guess that's it, but BP. made a fortune with BATS confirming I am still far too heavy a smoker! ;-))

Have a good day.

Morning all. Thanks for all the info - though I am not sure about REG, Al? :-)

Hmm - a stray "e", jj. LOL

Think I'll leave it unedited.

Good morning all and thanks for your contributions which are very good.

Morning all,
Mega Bucks,
sent 2 messages last week, did you get them?

Morning all

SOR is going up again, and on a tight spread, which is unusual for this share.

Is that a little ramp i hear? :>)

Big Al, OK I've taken the extra e out of RG, thanks for that :>))

Someones got to do it!

Was that your 100,000 sell then LW? Then i'll definitely drag you along to the bowling to buy the drinks!

Sell? No I think that was a "buy", not mine I'm afraid!