Hello traders!

US stocks closed sharply lower, capping off a disappointing first half, after the Federal Open Market Committee ordered yet another quarter-point rate hike and signaled more increases ahead.

The Dow Jones Industrial Average closed down 99.51 points at 10,274.97. The Nasdaq Composite ended 11.93 points lower at 2,056.96 and the S&P500 lost 8.52 points at 1,191,33.

During the first half of the trading year, the Dow has shed 4.7% of its value, the Nasdaq composite has fallen 5.4%, and the S&P500 has lost 1.7%.

See you in the morning with the latest.....

G.

Good morning traders!

In Asia this morning, at the mid-session break, the Nikkei was up 63.09 points at 11,647.10, its highest since April 12th. The Hong Kong market is closed today.

Oil prices ticked up again with New York's main contract, light sweet crude for delivery in August, up 21 cents at $56.71 a barrel, after closing at $56.50 in the US.

Back later with some UK news.

Happy trading!

G.

RIO TINTO TO BUY 50 PCT STAKE IN AUSTRALIA'S HOPE DOWNS IRON ORE PROJECT

HMV UPGRADED TO 'BUY' AT MERRILL LYNCH

EMAP UPGRADED TO 'OVERWEIGHT' FROM 'EQUAL-WEIGHT' BY MORGAN STANLEY

RECKITT BENCKISER DOWNGRADED TO 'IN-LINE' FROM 'OUTPERFORM' BY GOLDMAN SACHS

PREMIER FOODS DOWNGRADED TO 'IN-LINE' FROM 'OUTPERFORM' BY GOLDMAN SACHS

Outlook http://www.moneyam.com/action/news/showArticle?id=852836

Morning all.

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 5,113.2, up 4.1
FTSE 250 7,368.7, up 39.6
DJIA 10,275.00, down 99.50
Nasdaq Comp 2,056.96, down 11.93
S&P 500 1,191.35, down 8.50
Tokyo: Nikkei closed at 11,630.13, up 46.12
Hang Seng closed
Gold 438.65 usd (437.25 usd)
Oil - Brent Aug 55.58 usd (56.15 usd)

BREAKING NEWS
* Bank of America in 35 bln usd deal for MBNA
* Kevin Stanford, co-founder of fashion retailer Karen Millen, buys a 28.8 mln stg stake in MARKS & SPENCER
* Murdoch to auction The Times Educational Supplement title for 250 mln stg
* BP being hit by lawsuits as the US Chemical Safety Board says alarms failed to ring at the group's Texas plant on the day of the deadliest refinery accident in a decade - FT
* HILTON plans hotels sale to raise 300 mln stg
* TOREX pays 98.5 mln stg for ANKER
* Exchange & Mart put up for sale by UNITED BUSINESS MEDIA - Sun

PRESS COMMENT
FT
THE LEX COLUMN comments on the UK economy, Bank of America/MBNA, UBS, mergers & acquisitions
Mail
MONEYBOX (hopes that either 10 pct shareholder TRM of the US or rival CARDPOINT steps up with a cash offer) - SVG CAPITAL (rumours of an imminent fundraising by its highly successful public equity division; dealers hear that a full listing for Strategic Equity Capital could soon be on the cards)
Telegraph
QUESTOR: GLAXOSMITHKLINE (if you've made some profit here, it might be wise to lock it in), ABBOT GROUP (well worth holding for the long term), XANSA (looks good value)
Express
SHARE WHISPER: VICORP GROUP (said to be preparing to move up to AIM) - WHO'S DEALING: CENES PHARMACEUTICAL (chairman buys 500,000 shares at 7.875 pence)
Times
DIRECTORS' DEALINGS: UBC MEDIA (former chairman sells stock for 480,000 stg) - RUMOUR OF THE DAY: PREMIER RESEARCH (word it is in early-stage talks over a US acquisition) - TEMPUS: TRINITY MIRROR (worth buying on weakness), XANSA (worth holding), ABBOT GROUP (worth buying)
Guardian
HOMESTYLE (City speculators believe that the appointment of Markus Jooste is a prelude to Steinhoff injecting all of its assets into Homestyle)
Independent
THE INVESTMENT COLUMN: IMI (shareholders can afford to take a wait and see approach)
Investors Chronicle
TIPS - LARGE COMPANIES: REXAM (buy), FINDEL (buy), CHRYSALIS (sell), AVESCO (buy); SMALL COMPANIES: NAUTICAL PETROLEUM (buy), SYNERGY HEALTHCARE (buy), MORGAN SINDALL (keep buying), NUMIS (good value), COMPUTERLAND (good value), BT (buy)

Morning all.

P&O downgraded to 'neutral' from 'reduce' at UBS

GlaxoSmithKline a 'buy' with raised price target at Merrill Lynch

So although it's the first of the month, we don't have any
US non-farm payroll numbers today? Is that due to the weekend
being a national holiday?

Good Morning all

Managed to move up several hundred places in the competion yesterday!

I noticed LOL
knocked the bunny out of her 5th spot in the ladies league!
:>(



LOL!!!
:>)