Good morning traders!

In the US last night, inflation worries, profit taking and higher oil prices were just some of the concerns that sparked a bout of selling that kept virtually every sector in the red all afternoon.

The Dow closed 98.65 points adrift at 10,630.78 with the Nasdaq Composite down 44.29 points at 2,107.86 and the S&P500 ending weaker by 14.04 points at 1,188.04.

In Asia both the Nikkei and Hang Seng have performed badly this morning.

Happy trading! ;-)

G.

morning all

Morning all, I haven't been trading for quite a while other than some forex and commodities. Wondering whether a short on the FTSE is in order today, following the US and FE.

MARKETS
FTSE 100 4,848.0 up 32.7
FTSE 250 6,983.40 up 46.6
DJIA 10,630.78 down 98.65
Nasdaq Composite 2,107.86 down 44.29
S&P 500 1,188.05 down 14.03
Nikkei 225 11,437.52 down 80.23
Hang Seng at midday 13,786.77 down 259.13
Gold 426.22 usd (438.10 usd)
Oil - Brent Feb 41.04 usd (40.46 usd)

BREAKING NEWS
* Euronext in talks to buy MTS trading platform - FT
* XSTRATA pressed to dig deeper after 3.9 bln stg WMC valuation - Times
* Petrol price war looming as Asda cuts prices - Times
* Kripsy Kreme restates earnings - Telegraph
* Private client brokers oppose LSE takeover - Independent

PRESS COMMENT

FT
Lex Column: WMC bid (a reassessment of WMC's prospects might elicit a counter bid or better offer from XSTRATA, but investors backing this option should realise that Xstrata's bid is not as cheap as Grant Samuel's valuation suggests); Insurance sector (the Spitzer and Converium shocks seem to be fading and bond yields are gently rising, helping insurance portfolios. Much of this is already priced in but a sense of relief could push the shares even higher);
Transatlantic M&A (there are factors that could make Europe's directors think twice before beefing up in the US including litigation risk and investors' negative perception of US deals. Although the weak usd has reduced costs for European buyers, directors are not paid to place currency bets. For European companies already considering US deals, areas such as financial services or pharmas, usd weakness could help to tip the balance); Amadeus (shares may have already hit the top note)

Telegraph
Questor: CARNIVAL (Stay aboard); JOHNSON SERVICE GROUP (They are worth holding); HILL & SMITH (Trading of 8 times 2005 earnings with a 4.6 pct prospective yield - they are worth holding still)

Times
Rumour of the day: ARC INTERNATIONAL (talks that ARC has won a number of US contracts)- Tempus: 'Reasons to be cautious after property's phenomenal run' (Property shares soared 40 pct last year; despite the many positives there are reasons to be cautious; the higher the shares rise the more vulnerable they become to shocks in the economy; property shares already look relatively expensive; the BoE is concerned about rapid growth in lending to the property sector; the Office of the Deputy Prime Minister will decide shortly whether to proceed with a ban on upward only rent review clauses in property leases; for the brave who want to hold on, stick to LAND SECURITIES or GREAT PORTLAND)

NEXT WARNS FY PROFIT TO BE 5 MLN STG LESS THAN EXPECTED

Morning all.

Warner Chilcott - The FSA temporarily suspends the securities at the request of the company pending an announcement

Morning punters!

SVR - contract
http://www.uk-wire.com/cgi-bin/articles/20050105070000P4183.html

NLG - financing arrangement for Kazakhstan
http://www.uk-wire.com/cgi-bin/articles/20050105070000PA8FB.html

ITH - in bed with Mercedes
http://www.uk-wire.com/cgi-bin/articles/200501050700029916G.html

BIP - flogging stake at more than book value
http://www.uk-wire.com/cgi-bin/articles/200501050700049964G.html

VAN - another contract
http://www.uk-wire.com/cgi-bin/articles/200501050700059981G.html

RWS - FY looks quite good.
http://www.uk-wire.com/cgi-bin/articles/200501050700080003H.html

OXB - license agreement with US company
http://www.uk-wire.com/cgi-bin/articles/200501050700080004H.html

IIR - not the best trading statement once you get past the first paragraph!!
http://www.uk-wire.com/cgi-bin/articles/200501050700090016H.html

CRH - decent looking update
http://www.uk-wire.com/cgi-bin/articles/200501050700100043H.html

KBT - contract
http://www.uk-wire.com/cgi-bin/articles/200501050700120063H.html

NXT - trading update. A bit mixed?
http://www.uk-wire.com/cgi-bin/articles/200501050700120059H.html

IDS - 50% year-on-year sales growth. "market expectations of full year 2004 profit before tax are too low". Jules will be pleased! ;-))
http://www.uk-wire.com/cgi-bin/articles/200501050700120056H.html

PFD - not the best Xmas
http://www.uk-wire.com/cgi-bin/articles/200501050700130064H.html

RTD - interesting development
http://www.uk-wire.com/cgi-bin/articles/200501050700130065H.html

TPJ - interims and returns to trading
http://www.uk-wire.com/cgi-bin/articles/200501050700150045H.html
http://www.uk-wire.com/cgi-bin/articles/200501050700140069H.html

MMC - prelims expected to beat expectations despite dollar hit
http://www.uk-wire.com/cgi-bin/articles/200501050700190094H.html

DTK - US contract
http://www.uk-wire.com/cgi-bin/articles/200501050701300096H.html

That seems to be all today. I'm still busy so won't be back to it in earnest for a few days yet.

Have a good one.

Morning all,

Decided to go long on CSCO on my US account last night.. Will have to wait and see if this works out as a good buy or not....