Hello traders!

On the face of it, another quiet week in store but there are a few hot topics loming that could keep things rolling along.

For a start, keep an eye on Majestic Wine (MJW) tommorrow to find out just who are the big champagne buyers this year. :-)

Many thanks to Supermum for her weekly chartist's piece and every best wish to Jules in her fight for health.

See you in the morning with any breaking news....

Happy Sunday!

AFX UK at a glance share guide
AFX


MARKETS

FTSE 100 5,030.4 up 21.2

FTSE 250 7,264.20 up 44.90

DJIA 10,512.63 up 9.61

Nasdaq Comp 2,063.00 down 13.91

S&P 500 1,198.11 down 2.82

Gold 423.35 usd (422.75 usd)

Oil - Brent Jul 52.67 usd (53.82 usd)



BREAKING NEWS - WEEKEND

* NATIONAL GRID TRANSCO considering the sale of its 1 bln stg

gas-metering arm - Mail on Sunday

* Leading US senators plan to attack online casinos by banning

credit card companies from dealing with them - a move that would

seriously hinder PARTYGAMING's access to most of its online customers as

the company prepares a controversial 5.5 bln stg flotation on the London

stock market - Sunday Times

* Andrew Regan, the financier best known for his controversial bid for

the Co-op, stalking ROYAL & SUN ALLIANCE - Sunday Times

* ROLLS-ROYCE on course to clinch a huge deal to provide engines for

the next generation of Boeing's best-selling 737 jet - Mail on Sunday

* Boeing wants Airbus banned from US defence contract work if it

continues to receive state aid - Observer

* BP shows two faces as it fights US bill to cut CO2 emissions -

Independent on Sunday

* EUROTUNNEL on brink of bankruptcy and could be seized by creditors as

early as this autumn, perhaps earlier, according to creditors owed 6 bln

stg - Observer

* EUROTUNNEL facing financial collapse unless it can reach an outline

agreement with its banks by October - Sunday Times

* A putsch to oust Jacques Gounon, chairman of EUROTUNNEL, at the

company's annual shareholder meeting on Friday is being plotted by two

members of the board, Jean-Louis Raymond and Herve Huas - Sunday

Telegraph

* Management of EUROTUNNEL thrown into further disarray as Jean-Louis

Raymond, its chief executive, resigns a week before the annual meeting

and accuses the chairman of undermining him - Saturday FT

* HSBC's investment in mainland China will exceed 2.8 bln stg after its

subscription to Bank of Communications' initial public offering - The

Business

* Alchemy, the venture capitalist group headed by Jon Moulton, is the

mystery bidder which has held takeover talks with UK COAL - Observer

* Six trade buyers have contacted BOOTS to ask for the information

memorandum on Boots Healthcare International, a sale that could value

the maker of over-the-counter drugs, including Nurofen painkillers and

Strepsils throat lozenges, at up to 1.25 bln stg; GLAXOSMITHKLINE,

Johnson & Johnson and Bayer have contacted the health and beauty

retailer, according to people familiar with the situation; they face

competition from Novartis, Procter & Gamble and RECKITT BENCKISER -

Saturday FT

* Philip Caldwell, a director of one of Live8 organiser Bob Geldof's

companies, emerges as a key figure in the REGAL PETROLEUM affair,

Financial Mail establishes; Caldwell, an investment manager based in

Guernsey, acts for former Regal Petroleum chairman Frank Timis as well

as for offshore investors who appear to have sold their shares before

the Regal bubble burst - Mail on Sunday

* Frank Timis, who resigned as chairman of REGAL PETROLEUM last week,

considering whether to sue the Sunday Times over a story that appeared

in the newspaper last weekend - Sunday Express

* REGAL PETROLEUM asks Richard Hardman, former vice-president of

exploration at Amerada Hess, to oversee exploration - Sunday Telegraph

* Row blazes up at REGAL PETROLEUM as Bill Humphries quits the board;

he had hoped to be chairman after founder Frank Timis quit on Tuesday,

but resigned instead after a 'difference of opinion' - Saturday Mail

* Mystery surrounds the apparent suicide of a City star at CANTOR

FITZGERALD, who leaped to his death last weekend, fuelling concerns

about the intense pressures facing Square mile workers - Sunday Express

* ABN Amro increases its cash offer for Banca Antonveneta to 26.50 eur

(17.76 stg) a share and extends offer period - The Business

* 3I considering launching a fresh bid for Virgin Radio, owned by SMG,

and the Scottish media group's other assets - Saturday FT

* Sir Robert Finch, a former Lord Mayor of London, being lined up to

become chairman of LIBERTY INTERNATIONAL - Sunday Times

* Former chairman of MCCARTHY & STONE suing the company he founded in

1963 for share options worth an estimated 200,000 stg - Saturday FT

* Individuals in the UK would be able to buy into regulated hedge funds

for the first time as part of reforms under discussion at the chief City

regulator - Saturday FT

* MG Rover creditors to receive 'nil or negligible' payouts, say

administrators - Saturday FT

* Headhunters appointed to look for a replacement for Bob Stott, the

embattled chief executive of WILLIAM MORRISON, amid a growing

shareholder revolt over the company's handling of its 3 bln stg

acquisition of Safeway - Observer

* Archie Norman, the highly regarded retailer credited with turning

round Asda in the 1990s, knocks back an approach by WILLIAM MORRISON -

Independent on Sunday

* Sir Ken Morrison and his only independent board member, David Jones,

at odds over suitable candidates to fill crucial non-executive posts on

the board of WILLIAM MORRISON, the stricken retailer - Saturday FT

* Wife of Sir Ken Morrison, the executive chairman of WILLIAM MORRISON,

and two family trusts spend more than 3.5 mln stg buying two million

shares in the deeply troubled supermarket group

* Bill for boardroom sweep-out at MARKS & SPENCER hits 17 mln stg -

Saturday Telegraph

* MATALAN to axe hundreds of jobs from its stores and head office as it

slims down its operations in the face of a continuing downturn in

consumer spending - Sunday Telegraph

* European Commission proposes that BSKYB should lose half of its live

Premier League football rights - Sunday Telegraph

* Football League secures a 110 mln stg broadcasting contract with

BSKYB and ITV following a competitive auction that sees the sports body

increase the value of its media rights - Saturday FT

* BSKYB's efforts to win ten million customers by 2010 receives a

setback as it emerges that the number of households using a free digital

satellite connection to watch television soared in the first three

months of this year - Saturday Times

* BETFAIR, the world's largest internet betting exchange, close to

appointing an IPO adviser after holding a beauty parade this week when

it saw bankers from Goldman Sachs, Morgan Stanley and UBS - Saturday FT

* Russia's leading internet portal, Rambler Media, floats on AIM on

Wednesday in a stock market debut that will value the company at more

than 150 mln usd - Obsever

* Jitters in the City as RYANAIR defies EU compensation laws; consumer

group, The Air Transport Users Group, building dossier of evidence

against low-cost airline's refusal to obey new rules on assisting

delayed passengers - Independent on Sunday

* Multiplex close to a 'milestone' deal with unions to ensure the new

Wembley stadium is finished on time - Saturday Times

* TOREX RETAIL paying 73 mln stg in shares for XN CHECKOUT



SATURDAY PRESS COMMENT

FT

THE LEX COLUMN comments on BSKYB (faced with concerns over growth,

competition, regulation and capital spending, further weakness in

BSkyB's share price is justified), Emerging market equities, Citigroup,

Venture capital - FULLER, SMITH & TURNER (performance has been solid but

does not demonstrate a growth story to justify the premium to peers such

as GREENE KING) - GRAINGER TRUST (the dividend yield, at an historic 1

pct, is unlikely to prop up the stock) - Weekend share watch: KELDA GROUP (US disposal could give further momemtum), PREZZO (investors will

be waiting a long time for a return, unless the family sells to a

generous bidder), SANCTUARY GROUP (in the event that firm buyers emerge,

Sanctuary's management will need to prove that its business model

actually works) - LONDON MARKET: CSR (speculation it could have won the

business to provide Sony's Playstation 3 with Bluetooth technology),

EMBLAZE (talk of a significant deal on Monday) - ANALYST WATCH: IMPERIAL TOBACCO (a UK smoking ban and competition in its markets could slow down

Imperial's impressive momentum) - MY PORTFOLIO: Peter Temple buys ASIA

ENERGY



Independent

AIM - Five stocks to watch: AMINO, ASOS, MONTERRICO METALS, AVANTI

SCREEN MEDIA, TANFIELD - NO PAIN, NO GAIN: Derek Pain comments on

PROFILE MEDIA (I feel I have little choice but to remain on board),

PRINTING.COM (a 'significant wave' of new bolt-on agreements is said to

be imminent; it also has international ambitions and has already set up

shop in Dublin) - MARKET REPORT: SCOTTISH & NEWCASTLE (InBev competition

threat)



Telegraph

QUESTOR COLUMN: SEVERN TRENT (until the management starts to impress

more, the stock looks fully valued), WINCANTON (for the patient

investor, worth holding), ELEMENTIS (worth a punt) - THE MARKET:

BIOFUELS CORPORATION (speculation it is negotiating a refinancing

package), REGUS (KKR bid talk), HITCHENS HARRISON (talk that South

Africa could be the the next target for expansion) - Diary of a Private

Investor: James Bartholomew buys small amounts of BETONSPORTS and

SPORTINGBET at 125.6 pence and 295 respectively



Times

STOCK MARKETS: PREZZO (stock overhang cleared), GAMING CORPORATION

(stock overhang cleared) - TEMPUS: The following AIM-listed companies,

according to stock market data provider Hemscott, are poised to increase

earnings per share by at least 10 pct in the next year: OMEGA

INTERNATIONAL, POLARON, MEDIA SQUARE, TITAN EUROPE, GOOCH & HOUSEGO,

MEARS, PM, FIRST DERIVATIVES, FLOMERICS, COLLIERS CRE, SYSTEMS UNION,

FOUNTAINS and INTERNATIONAL GREETINGS



Guardian

Market forces: INVENTIVE LEISURE (latest high street operator to become

the focus of consolidation speculation), DICOM (rumours it is about to

clinch an administration contract helping provide social services in the

US), EMBLAZE (rumours of an imminent deal to design and supply white

label handsets)



Express

MARKET REPORT: SCOTTISH POWER (hopes of a takeover by a European

predator), o2 (ongoing chatter about bid interest from KPN), FENNER

(talk of higher-than-expected cost savings from acquisition of

Wellington Holdings), CHACO RESOURCES (speculation about a forthcoming

positive exploration update)



Mail

INVESTMENT EXTRA: Brian O'Connor comments on ROLLS-ROYCE (risky, but

rewarding), CHAUCER bid approach (fingers crossed for a good outcome -

not guaranteed, so be ready to sell) - MARKET REPORT: CABLE & WIRELESS

(speculation it may be mulling a bid for THUS), HITCHENS HARRISON

(whispers that expansion in South Africa may be next)



SUNDAY PRESS COMMENT

The Business

THE ALCHEMIST: Clem Chambers comments on companies that might get

pounced upon (WHITBREAD, MITCHELLS & BUTLERS - GROWTH INVESTOR: GUS -

SMALL-CAP INVESTOR: WATERMARK (share have fallen back over the past

month and this provides a good buying opportunity) - AIM INVESTOR:

DAWSON INTERNATIONAL (speculative buy) - BENCHMARK: Grant Clelland

comments on Siemens, General Motors, French privatisations



Mail on Sunday

COMPANIES AND MARKETS: EMAP snub irks SCOTTISH RADIO HOLDINGS

investors; Z GROUP (poised for AIM float) - MIDAS: ZINCOX (speculative

buy) - TAKING STOCK: Ben Laurence comments on PROTEOME SCIENCES (shrewd

investors predict it will this week announce a big deal with Applied

Biosystems of the US), EMBLAZE (an announcement that it has found a UK

distributor for its handsets is due tomorrow), ARLA FOODS UK (a bid

looks unlikely), HALFORDS (looks to be one of the few retailers whose

shares are well underpinned by current trading prospects), COMPASS (Moto

service stations sale speculation)



Observer

THROG STREET: Richard Wachman comments on JOHNSTON PRESS (a great

read), FIRST CHOICE (if it this week confirms that it is heading for a

good summer, and perhaps indicates it can redeem a tranche of preference

shares, there is no reason why the stock shouldn't breach 2 stg for the

first time since 1999), FENCHURCH ADVISORY PARTNERS (speculation is rife

that one or two big deals are already in the pipeline; is BARCLAYS

involved? I wonder)



Sunday Telegraph

THE MAVERICK: Luke Johnson comments on PARTYGAMING (unfortunately for

PartyGaming, the new issues market is in a bad way and I predict the

price will be slashed or the flotation will be pulled) - Equity View -

BLUE CHIP VALUES: AWG (buy); Look who's trading: RATHBONE BROTHERS

(directors sell stock; investors may be tempted to take profits); SMALL

CAP COMMENT: HALFORDS (we reiterate or buy recommendation; analysts have

a price target of 315 pence), LIONTRUST ASSET MANAGEMENT (worth a punt),

BUSINESS POST (buy), HELPHIRE (keep buying) - THE NUMBERS GAME: TONY

JACKSON comments on CARPHONE WAREHOUSE (I shall not be buying at this

price; not because I don't admire the company, but because its prospects

are just too complex for me to understand)



Sunday Times

JUDGMENT DAY: SHOULD YOU BUY SHARES IN EASYJET? Andy Brough, fund

manager at Schroders, says hold, while Tim Steer, fund manager at New

Star, says sell - INSIDE THE CITY: John Waples comments on closed-life

sector (those wanting immediate exposure to this sector should take a

look at CHESNARA; shares in the company are yielding 9 pct; it will

either be a consolidator or a vehicle into which Hugh Osmond can

reverse); INMARSAT/RHM (floats being well received; both companies will

pay a generous dividend); MARKET MOLE: ITV (Andrew Green has bought 2.4

mln shares this month, taking the holding of his GAM Global Diversified

fund to 7.3 mln, and his GAM UK Diversified fund to 5.3 mln, or 0.1 pct

of the company)

Good morning traders!

A bit of a mixed bag in Asia this morning but trading is generally very quiet. At 6:00am, the Hang Seng was down 5.87 points at 13,928.89 with the Nikkei up 44.06 points at 11,348.29.

Oil prices eased 39 cents to $53.15 as hurricane warnings were downgraded and ahead of expectations of an output increase announcement from OPEC on Wednesday.

Off to find some UK news.....

Happy trading!

G.

TOREX RETAIL BUYS HOFFMANN DATENTECHNIK FOR 4.25 MLN EUR

ULSTER TV SAYS OFFER FOR WIRELESS GROUP UNCONDITIONAL IN ALL RESPECTS

KIER GROUP BUYS ASHWOOD HOMES FOR 23.5 MLN STG

LUMINAR TO SELL 49 NIGHTCLUBS TO MANAGEMENT FOR 27.2 MLN STG

The only thing missing today was punters. Some nice movement on modest volumes. See if it hardens tomorrow. :-)

Took my profit on MJW tonight, expecting a drop in the morning. This is a great predictable share. Gets me back on track every time it reports... ;-)

See you in the morning.

G.