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US stocks recovered from session lows thanks to resiliency in the technology sector. The early falls followed poor ISM numbers which showed further deterioration in the manufacturing sector. In April the Nasdaq gained 9.2%, in the Dow 6.1% and the S&P 500 rose 8.1%

Unilever reported just a two percent rise in underlying first-quarter profits, but said it was still set to meet its earnings and top brands sales targets. The group said first-quarter underlying earnings rose four percent but had expected 5%. Its top 400 brand sales rose 4 to 5 percent in the first three months of 2003 against predicted 5 to 6%. Even so the overall profits jumped 45% more than expected. As usual Unilever deliver the goods ...

MyTravel reported a drop in summer and winter bookings but saw signs of recovery as war in Iraq ends. The firm also said a review of the value of some its assets was likely to lead to a "significant" impairment.

SHELL is due to announce quarterly result later this morning with earnings likely to show a rise thanks to higher oil prices. Selfridges Several newspapers reported talk of an imminent bid.Pace: The Guardian reported speculation of a bid for the set-top boxmaker from U.S. peer Scientific Atlanta at around 50 pence. Pace Micro's shares closed up over 10 percent on Thursday at 36-1/2 pence.

SIG builders' merchant says that U.K trading is in line with expectations, though they were difficult in Germany and at some of its other businesses across Europe.U.S Non Farm Payroll Data is expected to show that the economy lost 53,000 jobs in April, while the unemployment rate rose to 5.9 percent from 5.8 percent.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Fri 2nd May	Shell (Q1),  Unilever (Q1), Bodyshop International (F), Telewest Communications (Q1)	Chevron Texaco (Q1) 13.30 April Non-Farm Payrolls 55k exp. 15.00 March Factory Orders 0.5% exp.	09.00 EMU April Manufacturing PMI 48.9 exp. 11.00 EMU March PPI
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