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Interims DMGT : Daily Mail and General Trust PLCFinals ALT : Applied Optical Technologies CPW : Carphone Warehouse ESH : East Surrey Holdings FKI : FKI GNS : Genus JMAT : Johnson Matthey MPL : Montpellier Group OXIG : Oxford Instruments PLC PCF : Private & Commercial Finance Group SDY : Speedy Hire TATE : Tate & Lyle WAGN : Wagon AGM/EGM AAP : Alpha Airports Group AZM : Alizyme CRX : Cyprotex CSTL : Collins Stewart Tullett KGF : Kingfisher TFG : Taylor & Francis GroupEconomic UK May CIPS services report (0830 GMT) UK BRC May shop price index (around 0930 GMT)		CompanyAmerican Software AMSWA Bio-Reference Laboratories BRLI Canadian Western Bank CWB.TO Cantel Medical CMN Capstone Turbine CPST COMARCO CMRO Dataram DRAM Elizabeth Arden RDEN Finisar FNSR FuelCell Energy, Inc. FCEL G-III Apparel Group GIII Greif Brothers GEF Kellwood Company KWD Keystone Automotive KEYS Mandalay Resort Group MBG Pathmark Stores, Inc. PTMK Quanex NX SkillSoft Corporation SKIL Spartech SEH The Cooper Companies, Inc. COO Ultimate Electronics, Inc. ULTE Versata, Inc. VATAEconomic13.30 BST - Productivity (Q1 Revised) +3.5% +3.7% - Unit Labour Costs +0.5% +0.4% 13.30 BST - Initial Jobless Claims (w/e 29th May) 344,000 15.00 BST - Factory Goods Orders (April) +4.3% +0.0% 15.00 BST - ISM (non-Mfg) (May) 68.4 66.0		EconomicOPEC: Production Quota Meeting FRA: Auction: 3.5bn 4% 04/2014 and 1.5bn & 2.5% 04/2019 Bonds SPA: Auction: 1bn 3% 07/2007 Bond AUS: 00.30 Reserve Bank of Australia Board Policy Decision GER: 08.55 Services PMI (May) 53.3 53.5 EU-12: 09.00 Services PMI (May) 54.5 54.7 - Composite Index 54.9 54.9 EU-12: 12.45 ECB Gov Council Meeting EU-12: 13.30 ECB Press Conference EU-12: 18.00 ECB President Trichet Speaks on Financial Stability

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Good Hunting all			Pre Market Futures	FTSE +1	DAX+10	DOW+25	S&P+2.9	Nasdaq+7

Nikkei had a bad one, Dow futs well down, last night ftse was indicating a +20 open now -3!

Morning btw!

Updated 6/2 for Thursday's market.
Key DOW Levels for 6/3
UP Above 10,300
DN Below 10,225

Upside Break
Dow breaks consolidation to upside, pushes higher to the Close.

From prior commentary, "...The consolidation has developed into a downward-sloping pattern, which typically has a higher potential for an upside break. Watch for a break through 10,230 tomorrow, which will likely spark a significant rise in the market..."
The Dow got an upside break from the sloping consolidation this morning, which fueled a move higher to the Close, as seen in the 15 and 60 Minute Chart. The Dow rose 60 points to finish the day, but further upside movement is likely.

Look for the Dow to continue trending higher toward the upper boundary of the major downward-sloping range, seen in the Daily Chart. The Dow will likely hit the upper trend line at around 10,360 before another major move is seen.

Conversely, a downside push through 10,225 will likely make for a larger pull-back within the current uptrend.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the recent advance, seen in the 5 Minute Chart. A downside break of the line at 10,250 will make for weakness tomorrow morning.

Medium Term Dow

In the medium term, we entered the market Long today at 10,242 and are still in the trade. We will continue to hold stops at the entry and will stay Long above 10,300. We will look to enter Shorts below 10,225; using 20 point stops.

NASDAQ & S&P

The S&P pushed slowly higher today, while the NASDAQ held within its sloping range. Look for the NASDAQ to continue holding within its range before a clear break is seen. An upside break is likely since the S&P and Dow have already done so. *

Summary

The Dow got an upside break from the sloping consolidation today, which sparked a slow, but steady move higher. Look for a continuation higher toward the major upper trend line from the Daily Chart, at around 10,360. Otherwise, a break below 10,225 will indicate weakness.

daily

thu ftse pp

r2 4475
r1 4449
pp 4436
s1 4410
s2 4396

Ftse closed below its pivot on wed and lost 4.7pts in the auction, still in a downtrend off wed high sub 30, pos break up thru this level to watch imho, dow currently trading sideways above 10200, odd action on ftse giving away the gains in the arvo after looking so strong, looks like trade the range still!

Morning all

Went back into ITV on Tuesday and closed yesterday 2.75+

While I was typing the short ITV just closed 1.25+.

Looks like MKS is pulling the market down with it. The offer is worth 2.90-3.10 in cash plus 25% of the Revival Group. The big question is what is the 25% in the group worth?

Green never likes to pay over the odds, and he certainly isn't going to this time if he suceeds.

Anyone else out there?

Morning LW

The MKS situation is hard to guage imho hence i am currently avoiding. Gut reaction says that this offer will be rejected, the question then becomes whether the offer will be raised or will lapse.

Currently watching BSY plummet. Next support looks like 550p!

I seems I closed my short ITV too early!

Hard to guage this am, Dow up 60 overnight, FTSE down 20 this am - what happened to follow my leader?

fundamentalist oil up and nikkei down overnight dragged those dow futs dow, we were on for a +20 open until then last night

thanks tp

S&P futures are not looking good, which the FTSE has been following quite closely over the last few days.

Today's UK company results

ALT Applied Optical Technologies PLC year to March 31 2004

Sales - 26.06 mln stg vs 27.16 mln

Pretax loss - 1.53 mln stg vs loss 19.37 mln

Operating loss before exceptionals and goodwill - 300,000 stg vs loss

400,000

Operating loss - 1.51 mln stg vs loss 19.35 mln

Loss per share before exceptionals and goodwill - 2.2 pence vs LPS 1.1

Loss per share - 4.6 pence vs LPS 38.7



CFYN Caffyns PLC year to March 31 2004

Sales - 153.11 mln stg vs 148.48 mln

Pretax profit before exceptionals and goodwill - 3.35 mln stg vs 3.18 mln

Pretax profit - 3.11 mln stg vs 4.74 mln

Adjusted EPS - 95.5 pence vs 88.1

EPS - 88.1 pence vs 144.0

Final div - 1.50 pence vs 14.0 making 22.5 pence vs 21.0 pay 29/07/04

Books close 25/06/04



CPW Carphone Warehouse Group PLC 52 weeks to March 27 2004

Sales - 1.85 bln stg vs 1.84 bln

Pretax profit before exceptionals and goodwill - 76.3 mln stg vs 57.0 mln

Pretax profit - 44.5 mln stg vs 34.5 mln

EPS before exceptionals and goodwill - 6.81 pence vs 5.25

EPS - 3.17 pence vs 2.60

Final div - 0.9 pence making 1.3 pence vs 1.0 pay N/A

Books close N/A



DMGT Daily Mail & General Trust PLC half year to April 4 2004

Sales - 1.05 bln stg vs 961.8 mln

Pretax profit before exceptionals and goodwill - 107.3 mln stg vs 83.4 mln

Pretax profit - 75.3 mln stg vs 50.4 mln

Operating profit before exceptionals and goodwill - 134.9 mln stg vs 109.8

mln

Operating profit - 103.9 mln stg vs 83.2 mln

EPS before exceptionals and goodwill - 18.6 pence vs 14.6

EPS - 11.7 pence vs 6.7

Interim div - 3.45 pence vs 3.15 pay 09/07/04

Books close 11/06/04



ESH East Surrey Holdings PLC year to March 31 2004

Sales - 73.1 mln stg vs 55.5 mln

Pretax profit - 9.19 mln stg vs 15.19 mln

Operating profit - 14.86 mln stg vs 13.05 mln

EPS before exceptionals 0 11,3 pence vs 21.6

EPS - 11.8 pence vs 29.5

Final div - 9.55 pence vs 9.3 making 14.3 pence vs 13.9 pay 16/08/04

Books close 09/07/04



FKI FKI PLC year ended 31 March 2004

Sales - 1.34 bln stg vs 1.45 bln

Pretax profit before exceptionals and goodwill - 67.2 mln stg vs 77.4 mln

Pretax loss - 17.3 mln stg vs profit 26.4 mln

Operating profit before exceptionals and goodwill - 96.9 mln stg vs 103.9

mln

Operating profit - 32.9 mln stg vs 71.8 26.4 mln

EPS before exceptionals and goodwill - 8.7 pence vs 10.0

Loss per share - 3.5 pence vs EPS 1.9

Final div - 3.0 pence making 4.5 pence, unchanged pay 29/10/04

Books close 01/10/04



GNS Genus PLC year to March 31 2004

Sales - 183.71 mln stg vs 172.79 mln

Pretax profit before exceptionals - 8.37 mln stg vs 5.14

Pretax profit - 8.14 mln stg vs 5.14 mln

Underlying EPS - 19.5 pence vs 22.2

EPS - 15.5 pence vs 8.3

Final div - 6.5 pence making 6.5 pence vs 5.5 pay 18/08/04

Books close 22/07/04; Ex-div 21/07/04



JMAT Johnson Matthey PLC year to March 31 2004

Sales - 4.49 bln stg vs 4.32 bln

Pretax profit before exceptionals and goodwill - 195.7 mln stg vs 189.9 mln

Pretax profit - 178.0 mln stg vs 173.5 mln

Operating profit before exceptionals and goodwill - 206.0 mln stg vs 189.2

mln

Operating profit - 188.3 mln stg vs 167.9 mln

EPS before exceptionals and goodwill - 64.0 pence vs 61.8

EPS - 56.0 pence vs 55.4

Final div - 18.2 pence making 26.4 pence vs 25.5 pay 03/08/04

Books close 11/06/04



MPL Montpellier Group PLC six months to March 31 2004

Sales - 212.34 mln stg vs 211.53 mln

Pretax loss - 20.67 mln stg vs profit 2.95 mln

Group operating loss - 20.7 mln stg vs profit 3.4 mln

Loss per share - 33.68 pence vs EPS 4.30

Interim div - nil vs 0.5 pence



OXIG Oxford Instruments PLC year to March 31 2004

Sales - 182.3 mln stg vs 186.6 mln

Pretax profit - 11.9 mln stg vs 2.4 mln

Operating profit before exceptionals and goodwill - 8.0 mln stg vs

Operating profit - 5.7 mln stg vs 3.9 mln

EPS before exceptionals and goodwill - 11.4 pence vs 7.9

EPS - 21.3 pence vs 2.6

Final div - 6.0 pence making 8.4 pence, unchanged pay 29/10/04

Books close 01/10/04



PCF Private & Commercial Finance Group PLC year to December 31 2003

Sales - 31.35 mln stg vs 33.16 mln

Pretax loss - 1.56 mln stg vs profit 1.37 mln

Net loss - 989,477 stg vs profit 929,636

Loss per share - 6.5 pence vs EPS 6.4

Final div - 0.5 pence making 1.6 pence pay 23/07/04

Books close 11/06/04



RED Redstone PLC year to March 31 2004

Sales - 60.73 mln stg vs 68.86 mln

Pretax profit before exceptionals and goodwill - 13,000 stg vs loss 3.2 mln

Pretax loss - 3.41 mln stg vs loss 6.96 mln

EBITDA profit before exceptionals - 996,000 stg vs loss 1.21 mln

EBITDA profit - 1.70 mln stg vs loss 1.21 mln

Loss per share - 1.22 pence vs LPS 2.22



SDY Speedy Hire PLC year to March 31, 2004

Sales - 170.2 mln stg vs 143.9 mln

Pretax profit before goodwill - 22 mln stg vs 18.9 mln

Pretax profit - 21.2 mln stg vs 18.2 mln

EPS before goodwill with underlying tax charge - 38.66 pence vs 31.39

Basic EPS - 42.34 pence vs 31.89

Final div - 6.8 pence making 10.5 pence vs 9.0 pay N/A

Books close N/A



TATE Tate & Lyle PLC year to March 31 2004

Sales - 3.17 bln stg vs 3.17 bln

Pretax profit before exceptionals and goodwill - 227 mln stg vs 228 mln

Pretax profit - 224 mln stg vs 187 mln

EPS - 32.7 pence vs 27.8

Final div - 13.2 pence making 18.8 pence vs 18.3 pay 04/08/04

Books close 09/07/04



TSY Transport Systems PLC year to March 31 200

Sales - 3.29 mln stg vs 2.65 mln

Pretax profit before goodwill - 220,569 stg vs loss 260,661

Pretax profit - 137,473 stg vs loss 343,768

EPS before goodwill - 1.4 pence vs loss per share 2.3

EPS - 0.9 pence vs loss per share 3.0

Final div - 0.25 pence making 0.25 pence vs nil pay 14/08/04

Books close 30/07/04; Ex-div 28/07/04



WAGN Wagon PLC year to March 31 2004

Sales on continuing ops - 486.9 mln stg vs 408.9 mln

Pretax profit before exceptionals and goodwill - 16.5 mln stg vs 14.1 mln

Pretax profit - 6.5 mln stg vs 22.2 mln

Operating profit before exceptionals and goodwill - 20.1 mln stg vs 17.5

mln

Operating profit - 12.7 mln stg vs 10.9 mln

EPS before exceptionals and goodwill - 20.1 pence vs 15.7

EPS - 0.5 pence vs 32.9

Final div - 5.0 pence, unchanged making 9.0 pence, unchanged pay 06/09/04

Books close 06/08/04



newsdesk@afxnews.com

long ftse futs 09 but need it above 15 (10 cash) to break out of downtrend off Wed high

Morning all,

Ftse near the bottom of its range.
US isn't.

Job figures at 1330 may decide which way the US goes,
towards the bottom of the range or the top.

If it goes towards the bottom there is a chance that the Ftse
will break below 4400. If it doesn't, I see the Ftse heading back up
towards 4440.

Also watching, BSY, Fundamentalist.
We seem to watch the same stocks. :-)

Melnibone.

mornin all

Latest on MKS:

LONDON (AFX) - One of Marks & Spencer Group PLC's 10 largest shareholders has described Philip Green's proposed offer for the UK's largest clothing retailer as "unexciting".

Earlier, the billionaire retail entrepreneur detailed the terms of a proposed 9 bln stg bid.

He said he is prepared to make an offer for M&S of 290-310 pence a share in cash plus a 25 pct interest in the equity of his vehicle Revival Acquisitions that he intends to list.

His offer is subject to a recommendation from the M&S board and a review of financial information he hopes to obtain from the retailer.

Monaco-based Green has waived traditional due diligence but requires disclosure of the terms and conditions of the contractual relationship between M&S and George Davies, the designer of the 'Per Una' women's wear range.

Significantly, the incremental 20 pence per share cash consideration is dependent on a "satisfactory review" of this contract.

He also wants information on pensions, capital expenditure and current trading.

"The numbers don't look exciting even for a siting shot," the top 10 shareholder told AFX News on condition of anonymity.

"There's a lot of conditionality and not a lot of visibility as far as the equity piece is concerned."

Analysts said Green's proposed offer is difficult to value in total, being dependent on the rating given to the 25 pct minority or 'stub' that would be listed, probably on the Alternative Investment Market. However, they suggested his offer is worth 340-400 pence in total.

Shares in M&S, which had risen by some 25 pct since Green said he was considering a bid last Thursday, fell on the announcement. By 10.27 am they were down 16 pence, or 4.4 pct, at 350.

M&S is still to respond to Green's statement but is expected to reject the proposal.

cut ftse long at 14, u can rally now ftse