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News Headlines:    U.S. stocks tumbled Monday In the absence of new economic news as investors focused on the day's corporate developments and whether the Fed will cut rates by a quarter or a half percentage point and what the implications would be from either move. Far Eastern stocks fall sharply which could indicate that the UK futures are to optimistic at the moment.

MM02: has reported its five millionth German customer and says Germany's trend of rising average revenue per user from the last full financial year continued in April and May. Most analysts expect O2 Germany to be sold or merged eventually with rival KPN Mobile's operation there.

Alliance & Leicester: says it is trading in line with market expectations and is on track to meet its goal of double digit growth in basic earnings per share for 2003 and 2004. The bank, which has sold off its life operations to focus on mortgages, unsecured personal loans, current accounts and savings, said like-for-like revenues rose by five percent in the five months to the end of May.

HBOS: said that operating and financial results for the half-year will be consistent with market expectations. The strategy and key financial credentials; broad margin stability, financial strength, careful cost control and sound credit quality, together with good business momentum, continue to make them confident of meeting market expectations for the balance of 2003.

Orange:says it plans to boost core earnings by 15 to 17 percent per year from 2003 to 2005, push up revenue and team up with rivals, a move analysts have called defensive. Expected operating free cash flow to rise by between 40 and 45 percent per year by 2005, generating around 14 billion euros by 2005. The company, which has been under mounting pressure to clarify its strategy, added that it was on track to meet revenue growth targets of five percent this year, to accelerate that growth over the next two years and generate earnings of at least 6.2 billion euros in 2003.

McCarthy & Stone: The Guardian newspaper saidv there was speculation that the retirement homes builder will spurn the takeover approach from the sons of founder and chairman, John McCarthy.

Amec said that overall performance to-date in 2003 remains in line with the Board's expectations at the time of the company's Annual General Meeting on 8 May 2003. The company said that the level of orders received in recent months gives Amec confidence that it will see the expected return to organic growth in 2004.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Tue 24th	Alliance & Leicester Trading Statement HBOS Trading Statement Woolworths AGM &Trading Statement Also Reporting: Goldshield Group (F), Grainger Trust (I), Parkdean Holidays (I)	15.00 June Consumer Confidence 82.7 exp. US: Palm Inc (Q4)	07.00 EMU German April Construction Orders
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