Hello traders!

Big thanks to Supermum for her weekly chart view.

The diary for the week doesn't look too exciting but, hopefully, investors and traders returning from the half-term holiday week will boost volumes a little and provide a little more scope for wheeling and dealing.

I'll be back in the morning with breaking news.

Happy Sunday!

G.

Greystone

Is anyone replacing Limpsfield for the weekly indices analysis?

Tia
V

AFX UK at a glance share guide

MARKETS
FTSE 100 4,999.4 down 5.6
FTSE 250 7,204.80 up 35.3
DJIA 10,460.97 down 92.52
Nasdaq comp 2,071.43 down 26.37
S&P 500 1,196.02 down 8.27
Gold 423.05 usd (422.25 usd)
Oil - Brent Jul 54.17 usd (52.40 usd)

BREAKING NEWS - WEEKEND
* PARTYGAMING, the Gibralter-based owner of the world's biggest online poker site, may be forced to pull its 5.5 bln stg London float as fears grow about the legality of internet gambling in the US - Observer
* American regulators threatening to clamp down on illegal internet gambling in a move that could damage prospects for PARTYGAMING's planned 5.5 bln stg stock market flotation later this month - Saturday Independent
* MBNA, the US credit card giant, preparing an audacious 900 mln stg bid for EGG - Observer
* FSA blasts Blair for 'damaging' speech; PM blamed for describing the regulator as 'hugely inhibiting' just days after the chancellor praised it as world class - Sunday Telegraph
* TESCO in talks with the UK lottery regulator about the competition for the next licence; the discussions could pave the way for a bid - The Business
* J SAINSBURY poised to overtake Asda as the UK's biggest supermarket after TESCO by the autumn if current trading trends continue - Observer
* Elle Macpherson, the Australian supermodel, strikes a deal to sell cosmetic and skincare products bearing her name in BOOTS and SELFRIDGES - Sunday Telegraph
* Richard Baker, chief executive of BOOTS the CHEMIST, will announce a big management restructuring this week in an attempt to revive the group's fortunes - Sunday Times
* BRC-KPMG Retail Sales Monitor, which is released tomorrow, will show that like-for-like sales in stores in May dived by about 2.5 pct - Sunday Telegraph
* Up to 150,000 jobs in the retail industry will be axed in the next five years, after the collapse in consumer confidence, according to Verdict Research - Sunday Times
* Top executives at the heart of a regulatory investigation into overcharging at SEVERN TRENT are quietly being offered early retirement - Mail on Sunday
* BRITISH AMERICAN TOBACCO has been holding fresh talks with officials in Shanghai about plans to build a cigarette factory in China - Mail on Sunday
* SHELL and E.ON will this week bring forward a planning application to build the world's largest offshore wind farm, in the Thames Estuary - Sunday Express
* Rod Eddington, departing chief executive of BRITISH AIRWAYS, believes the UK's transport infrastructure is 'near the point of no return' with regard to its negative impact on business - Observer
* Huge losses at its Safeway stores likely to force WILLIAM MORRISON SUPERMARKETS to issue a major profits warning when it updates investors in October, sources say - Saturday Mail
* Crisis deepens at Wembley stadium; MULTIPLEX could face 150 mln stg costs overrun - Sunday Express
* European leaders pile pressure on Tony Blair to surrender part of the UK's controversial EU budget refund or risk plunging Europe into deeper political turmoil - Saturday FT
* Sky (BSKYB) television subscriptions cancelled by hundreds of landlords in some of the largest listed pub groups for being too expensive - Saturday FT
* Shareholders in TELEWEST could take legal action to block its planned 5.6 bln stg merger with NTL if the company fails to gain sufficient value for its television subsidiary, Flextech - Mail on Sunday
* TELEWEST will demand a cash payment from NTL in return for agreeing to become a junior partner in a merger with its rival - Independent of Sunday
* VIACOM eyes TELEWEST TV channels - Sunday Times
* Peter Crook, former UK managing director of Barclaycard, set to join LLOYDS TSB - Sunday Express
* European Commission preparing to announce three competition investigations - into retail banking, insurance and the energy markets - Sunday Times
* B&Q owner KINGFISHER makes a splash in the 5 bln stg South Korean DIY market as it fights off the retail slump on its home turf; the retailer opened its first B&Q Home store in South Korea on June 2 - Sunday Express
* Royal Mail 'faces a 2 bln stg black hole' if regulator caps prices - Sunday Telegraph
* Investors rush to offer 40 bln stg for ABBEY NATIONAL's property portfolio - Sunday Telegraph
* US probes Isle of Man scheme used by billionaire George Bush donors - Independent on Sunday
* Phoenix Four firm faces end of the road with 10 mln stg claim over Rover pensions - Independent on Sunday
* Arab bidders say they will protect 4,000 Rover jobs; the Triple A consortium, led by Monaco-based car industry analyst Krish Bhaskar, says his plans for the group envisage 3,000 production staff at Longbridge and 1,000 research and development engineers - Sunday Times
* UK-based mobile operators VODAFONE and 02 taking market share from German rivals T-Mobile and E-Plus at a rate that analysts believe will drive consolidation - The Business
* O2 considering changing its football allegiance from Arsenal to Liverpool when the Merseyside club's contract with Carlsberg expires in 2007 - Sunday Express
* RAB CAPITAL being sued by a City recruitment firm which claims it has not paid lucrative headhunting fees; in a High Court writ, Durham Consultants claims to be owed nearly 200,000 stg by the AIM-hedge fund - Sunday Times
* ABERDEEN ASSET MANAGEMENT emerges as front runner to acquire rival fund manager Framlington from HSBC for 200 mln stg ahead of the French insurance giant AXA - Sunday Express
* GARTMORE, one of London's biggest fund-management firms, facing a crisis after a number of senior executives last week exercised their right to cash in options packages, prompting fears of a mass walkout - Sunday Times
* REGENT INNS makes it to the short list of bidders for LUMINAR's entertainment division as key shareholders of the high street pub operator throw their weight behind its acquisition strategy - Mail on Sunday
* IMI close to selling its 300 mln stg Polypipe building materials subsidiary - Mail on Sunday
* European cartel-busters raid the offices of the world's biggest fruit companies - including Chiquita, Dole, Fresh Del Monte and FYFFES - as part of a probe into alleged price-fixing in the European banana and pineapple markets - Saturday FT
* Asbestos payouts of 70 bln usd are 'tip of iceburg', according to The Rand Corporation - Saturday Telegraph
* RHM, owner of British institutions such as Mr Kipling cakes and Bisto gravy, expected to float by the end of the month with a value of about 2 bln stg - Saturday Times
* AIRBUS to appeal directly to the prime minister for launch aid for its latest aircraft in a last-minute attempt to convince the government that 400 mln stg is needed to safeguard 13,000 British manufacturing jobs - Saturday Times
* The A350, the AIRBUS plane that has stoked up the threat of a trade war between Europe and the US, will create 32,400 jobs in Great Britain alone, according to the pan-European planemaker - The Business
* Fears mounting that Nicolas Miguet, the maverick French politician instrumental in ousting EUROTUNNEL's board last year, will win enough support to mount a new shareholder coup and install himself as chairman at the troubled Channel Tunnel operator - The Business
* HP Foods, maker of HP and Lea & Perrins sauces, attracts at least three offers, valuing the business at up to 500 mln stg - Saturday FT
* Services sector slowed in May as companies felt squeezed in a tougher market, especially in financial services
* Treasury in talks on JARVIS contracts - Saturday FT
* Asda's new chief executive, Andy Bond, says it could take up to 18 months to reverse the poor trading performance at the supermarket group - Saturday FT
* US generated just 78,000 jobs in May, fewer than half the number expected, rekindling fears that the labour market may start to slow economic growth - Saturday FT
* ABN Amro loses bankers to Citigroup; Hoare Govett arm hit by defection of its corporate broking chief and four senior colleagues; rivals hope to pry loose clients - Saturday FT
* SANCTUARY in talks over possible sale of the company
* SANCTUARY has had discussions with potential bidders, including WARNER MUSIC; UNIVERSAL MUSIC has separately been named - Sunday Express
* SANCTUARY has held early-stage takeover talks in recent weeks with larger rivals, inclding EMI and WARNER MUSIC - Sunday Times
* Music Zone bids for WOOLWORTHS' loss-making music chain MVC
* FILTRONIC in detailed negotiations to sell its poorly performing handset antennae division in a move that could raise more than 50 mln stg
* BHP BILLITON triumphs in its 6.9 bln usd bid for WMC RESOURCES, securing the minimum 50 pct needed just hours before the offer expired last night - Saturday FT
* Principles and Warehouse, the fashion chains snapped up by Baugur-backed Shoe Studio Group earlier this year, set for a flotation in Iceland in September - Sunday Express
* Speciality Retail Group, the fashion outlet that owns menswear chain Suits You, put on market by its owner, the Brick family; sources close to the deal say a number of private equity groups have approached MOSS BROS with the idea of merging the two - Sunday Express
* LAURA ASHLEY heading for a showdown with its shareholders after RREV, an offshoot of the influential National Association of Pension Funds, calls for investors to block the re-election of four of its non-executive directors, including its chairman - Saturday Independent
* TRAFFICMASTER attacked by the National Association of Pension Funds and Institutional Shareholder Services, which want investors to vote against the remuneration report because of concerns over executive share options - Saturday Telegraph
* Ex-Mirror boss to go Dutch; David Montgomery, who floated his investment vehicle, MECOM, on AIM this year, interested in acquiring Wegener, a Euronext-listed newspaper group that is valued at about 450 mln eur (303 mln stg) - Sunday Times
* LEGAL & GENERAL VENTURES, the private equity firm that owns the Cafe Rouge chain, mulling over the possibility of floating the business six months after acquiring it for about 92 mln stg - Saturday Times
* Carluccio's, the Italian restaurant and delicatessen chain, considering a 50 mln stg flotation in a move that could earn more than 5 mln stg for Antonio and Priscilla Carluccio, the group's founders - Saturday FT
* All 3 Media, the producer behind Channel 4's afternoon chat show, Richard and Judy, kicks off talks with financial advisers ahead of a 150 mln stg stock-market flotation, pencilled in for early next year - Sunday Times

SATURDAY PRESS COMMENT
FT
Pollen count can add up to a windfall; hayfever products are generating profits that aren't to be sneezed at (p.5) - THE LEX COLUMN comments on PARTYGAMING (with the whole placement coming from existing shareholders, the group's trump card might turn out to be the issue's pricing), Asian economies, Lufthansa (may be one of the more attractive recovery bets in the sector; but with macroeconomic headwinds on the rise it is hard to see why investors would want to place one now), Environmental liabilities - Weekend share watch: OAKDENE HOMES (integration success leads to bullish views), DIPLOMA (may not have much upside potential in the short-term), GOODWIN (dividend yield of 3.19 pct and a healthy order book could make this a good punt for investors) - ROTORK (likes to keep its light under a bushel; this strategy, along with watching the pennies, has helped it become a world leader in electronic actuation systems (MONEY & BUSINESS p.5)

Independent
NO PAIN, NO GAIN: Derek Pain is quite happy to retain DATACASH shares in the portfolio; for the time being, he is prepared to stick with AVON RUBBER, but suspects they may be given the old heave-ho in the not too distant future; MACLELLAN may have to be ditched; he may part company with S&U if he gets the impression that Whitehall meddling will retard the group's progress - MARKET REPORT: bid speculation lights up the logistics sector (EXEL, WINCANTON, CHRISTIAN SALVESEN), ISOTRON (whispers of a contract from a large NHS hospital)

Mail
INVESTMENT EXTRA: DUNEDIN ENTERPRISE INVESTMENT TRUST (one to tuck away) - MARKET REPORT: REGAL PETROLEUM (rumours that chairman has incurred heavy personal losses in the oils futures market and is on the verge of resigning from the company), BPB (on verge of joining the Footsie elite when the steering committee meets on Wednesday)

Times
STOCK MARKETS: 3I (fears for private equity market put it in a spin), WINCANTON (TPG bid talk), MICAP (talk that Teather & Greenwood is close securing additional funding for the yeast encapsulation specialist) - TEMPUS: BHP BILLITON (hold), HORNBY (worth holding), SANCTUARY GROUP (buy)

Telegraph
QUESTOR COLUMN: EMI (better value elsewhere), BABCOCK INTERNATIONAL (buy), CHLORIDE (worth tucking away) - THE MARKET: WHITE NILE (driven higher as bears cover their positions and dealers speculate that the oil exploration group is close to completing a deal with the Ethiopian government), ALLIED DOMECQ (speculation that Constellation Brands has lined up Citigroup, Merrill Lynch and Bank of America to finance a bid worth around 7.7 bln stg)

Guardian
Market forces: MYTRAVEL (talk that half-year figures, due on June 23, will not disappoint and that it could play a part in any sector consolidation), WINCANTON (could be a takeover target for Deutsche Post), WILLIAM HILL (its online gaming operations likely to be re-rated in the run-up to this month's 5 bln stg flotation of PARTYGAMING), YULE CATTO (large stock overhang cleared), AUTONOMY (traders starting to wonder if it is being stalked by a predator), EURODIS ELECTRON (suggestions it could be a takeover target for rival ABACUS GROUP), GEORGICA (further evidence of stakebuilding)

SUNDAY PRESS COMMENT
The Business
THE ALCHEMIST: Clem Chambers says if you are feeling bullish, pop some INVENSYS into your portfolio; if you are still feeling defensive, pick up some BAE SYSTEMS - FUND OF THE MOTH: JP MORGAN FLEMING EUROPEAN FUND (looks cheap relative to its peer group on a 16 pct discount) - SMALL-CAP INVESTOR: ENTERTAINMENT RIGHTS (good long-term investment) - AIM INVESTOR: CONNAUGHT (buy) - BENCHMARK: Grant Clelland comments on France (why France must grasp the nettle of IPO plans), Unicredito, Aviation subsidies

Mail on Sunday
New Bluewaters threaten high street; as town centre shops struggle for trade, a massive boom is on the way in retail space (FINANCIAL MAIL p.5) - SFI (shareholders to lose out at Slug & Lettuce; 80 mln stg debts will swallow cash from Robert Tchenguiz) - MIDAS: ASCRIBE (not cheap, but given the good growth prospects, the company is worth a punt; buy); MIDAS UPDATE: SPORTINGBET (hold, don't fold), PRINTING.COM (hold) - COMPANIES AND MARKETS: BRITISH AIRWAYS (will not pay a dividend for at least two years), ENDEMOL (could opt for a dual listing in London and Amsterdam when it floats later this year), ITV (cuts to its 204 mln stg annual broadcasting licences could be far less than expected when Ofcom completes a report into the issue later this month); SECRET DEALINGS: AMLIN (Crispin Odey of the Odey Opus fund bought 21,000 shares last month to take its stake to 0.24 pct; also buying last month was AAA-rated Dan Nickols, manager of the Old Mutual UK Select Smaller Companies fund, which now controls 3.45 mln shares; another backer is Carl Stick's Rathbone Special Situations fund, with 600,000 shares) - TAKING STOCK: OXFORD BIOMEDICA (expected to announce a new deal to license one of its technologies to PFIZER), LONDON CLUBS (talk that Indonesian tycoon Putera Sampoerna is planning an approach); WILLIAM HILL/BUNZL (Footsie relegation threat); BPB most likely Footsie promotion candidate)

Sunday Telegraph
Equity View - BLUE CHIP VALUES: PUNCH TAVERNS (a defensive stock which remains undervalued), HBOS (keep buying); Look who's trading: BETONSPORTS (on May 25, the entire board bought shares at 100 pence and 105; BetonSports appears to have overcome last year's problems but the shares are strictly for brave punters); SMALL CAP COMMENT: HOMESERVE (keep buying), INTERNATIONAL GREETINGS (buy), PROTHERICS (keep buying), CHESNARA (looks a solid bet) - THE NUMBERS GAME: Tony Jackson comments on UNILEVER (still looks like a survivor)

Sunday Express
BROKERS' NOTES: PRINTING.COM (strong buy - Brewin Dolphin), EMI (Numis hold), HENDERSON GROUP (Teather & Greenwood hold), CHURCHILL CHINA (WH Ireland buy), LIONTRUST (Teather & Greenwood buy)

Sunday Times
JUDGMENT DAY: SHOULD YOU BUY SHARES IN INVESTEC Andy Brough, fund manager at Schroders, and Tim Steer, fund manager at New Star, both say buy - INSIDE THE CITY: John Waples comments on PARTYGAMING (if it achieves a 10 bln usd (5.5 bln stg) valuation, I will eat my virtual chips), MULTIPLEX (founder and former chairman, John Roberts, remains confident that his son will ride it out, but nobody can deny that it is going to be a bumpy journey) - With the population ageing, companies that cater for older people are tipped to do well (PORSCHE, CARNIVAL, SMITH & NEPHEW, FRAMLINGTON HEALTH, MEDICAL PROPERTY INVESTMENT FUND, RYANAIR, EASYJET, BRITISH AIRWAYS, WYEVALE GARDEN CENTRES, BLACKS LEISURE, CLOSE BROTHERS CAPITAL APPRECIATION TRUST - DIRECTORS' DEALS: CELSIS INTERNATIONAL (director disposes of 3 mln shares at 36 pence to meet institutional demand); ENODIS (director buys 150,000 shares at 108-1/2 pence)

Observer
THROG STREET: Richard Wachman comments on Britain's cable TV companies (with new management on board - NTL's chief executive Simon Duffy comes to mind - perhaps the industry can come into its own; but simply crunching NTL and TELEWEST together is not in itself enough), ROYAL BANK OF SCOTLAND (the shares have gone nowhere for four years; a capital return would change that), WORKSPACE (there is scant evidence that demand for its offices is faltering and, even if the economy takes a turn for the worse, Workspace could always sell some of its properties (most are in London where space is at a premium) for a fat profit)

Velocity - I'm working on it..... ;-)

Good morning traders!

In Asia this morning, the Hang Seng closed its morning session 12.31 points down at 13,806.14. The Nikkei was down 86.64 points back at 11,213.41 at midday.

Crude oil was trading up 42 cents at $55.45 a barrel.

The New Economics Foundation, a think-tank with links to the Treasury, has proposed that Tesco should be broken up, arguing that the retailer's huge scale is damaging communities and local enterprise.

Apologies for the delay in bringing the service to you this morning.

Happy trading!

G.

Morning all,

FTSE does not want to break 5000!

Morning all.

Done it now - but for how long?

lw - for ever - I hope!!