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Hang Seng +11

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Although UK sentiment is negative this morning S&P futures are rising so shorting may be risky ..

Rolls Royce & Royal Sun Alliance are expected to rejoin the FTSE 100 today.  Stagecoach has managed to sell Citybus at last.

Royal & SunAlliance announced the sale of Royal Specialty Underwriting its U.S. surplus lines operation, to Alleghany Insurance Holdings for around 72 million. This continues RSA's strategy of concentrating on its core business.

Canary Wharf: Another buyer (General Electric) may join in the bidding. Morgan Stanley Has Just Made A Takeover Bid In The Last Few Minutes

BAE systems may be the subject of a multiple takeover bid with Boeing also looking at the company.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Mon 9th JUNE Reports / Data	Sanctuary Group (I) PBT 6.1m exp. Renold (F), Warner Estate Holdings (F) 09.30 May PPI Input & Output figures 09.30 April Industrial Production m/m +0.2% exp. 16.30 May BRC Retail Sales Monitor y/y Gordon Brown announces Euro Decision to Parliament (pm)	15.00 April Wholesale Inventories +0.2% exp.
Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

Sunday News 8th June         

The countdown is on to Chancellor Gordon Brown's statement on whether Britain should join the euro.It is widely expected that Mr Brown will opt to keep the pound, saying his five economic tests for joining the Eurozone have not been met. A new survey revealed that more than one in four Labour MPs are opposed to the Prime Minister's policy of joining the single currency when the economic conditions are right WPP Group is expected to bid about three pence per share for Cordiant Communications Group and take on more than 90 million pounds of its debt, a newspaper says.

BAE Systems has rejected a merger offer from French defence electronics firm Thales

Canary Wharf Several potential bidders have approached property group  the developer of London's docklands says, sending its shares soaring.

AMP Australian financial services giant has gained a staggering 3bn from owning the UK life assurers it is now getting rid of. The company has also shifted its out of equities* and into bonds*, which could compromise future returns for investors. And it axed annual bonuses on Pearl's with-profits plans, but increased exit penalities.

Big Food Group: An investigation into retailer Iceland now part of Big Food Group has been broadened with the serious Fraud Office examining company accounts from 3 years ago to see if they overstated Iceland's real profitability. The DTI probe was ordered after former Iceland chairman Malcolm Walker offloaded a stake worth 13.5m in December 2000 one month before a profits warning sent it tumbling.

Canary Wharf Having seen it soar 64% since March readers may be tempted to take profits, they should resist the urge and hold on. Sunday Telegraph Creston (60.5p) will unveil full-year results later this month. The former property group has seen its share price price move up it in recent days on speculation that chief executive Don Elgie will announce good news. Under Elgie, Creston has been transformed with a series of acquisitions but is still trading at a discount to rivals. Buy. Sunday TelegraphSynergy Healthcare, the healthcare services company which is well-placed to benefit from increased spending in the NHS. A huge rise in demand for its services boosted profits in the the 12 months to March 30 this year. The Government is expected to unveil plans for an overhaul of sterilisation and decontamination facilities this week and Synergy is in pole position to win more business. At 190p shares are way off their peak, buy ahead of further positive news. Sunday TelegraphUrbium retail bars operator had a difficult first quarter. But last year it had a robust second half when its late-night bars, such as Tiger Tiger, saw strong sales. The large-scale bars operate in seven central London locations. Buy at 5.72p. Sunday ExpressCompass caterer has performed well of late and a strong presentation last week suggested fair value for the stock, now 362.75p, would be 500p. The group's strong purchasing power helps point to a buy. Sunday Express

Sunday Times:

Ryanair Irish Focus: O'Leary's balancing act Ryanair reveals Buzzs true cost AstraZeneca Davos founder quietly puts sale sign over elite summit British Energy Labour's Third Way goes off the rails Granada Power Ranger mogul plots swoop on ITV Paddy Power bets on boost from machines Edinburgh Investment Boss under fire over 21% pay rise Soaring costs will clip Ryanair wings

BT, Lloyds, Prudential The great Indian takeaway Sheffield Utd Club chiefs make debt reduction their goal EasyJet, British Airways, Ryanair Holdings: IAirline industry flies towards a great shakeout Reuters, LogicaCMG City gurus hail start of bull market Alliance and Leicester Time to punish banks that cut rates by stealth Shareholders stand up to P&O steamroller Jordan sues Vodafone for 213m Barclays, Lloyds TSB Banks prepare to shift 200,000 jobs to India

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