BPB has accepted a raised 775p per share cash offer from Saint-Gobain, the Financial Times reported.

TODAY'S EXPECTED COMPANY NEWS

INTERIMS
Applied Optical Technologies
Chloride Group
GUS
Helical Bar
InTechnology
Investec
Man Group
Mothercare
National Grid Transco
Vedanta
Virgin Mobile Holdings

FINALS
BOC Group

AGM
Barratt Developments
Victoria Oil & Gas

EGM
Hill Station
SkyNetGlobal

TRADING STATEMENT
Reed Elsevier

ECONOMICS
UK Oct retail sales (0930 GMT)

MARKET FORECASTS
* GUS PLC six months to Sept 30 2005 pretax profit before exceptional items and amortisation 346-374 mln stg under new IFRS accounting rules vs restated 407 mln stg; interim dividend 9.5 pence, up 6 pct
* Investec PLC six months to Sept 30 EPS 84-87 pence vs 60.7
* Man Group PLC six months to Sept 30. Deutsche Bank forecasts pretax profits 488 mln usd under International Financial Reporting Standards vs restated 362 mln
* National Grid Transco PLC six months to September. Citigroup forecasts pretax profit 743 mln stg, up 6.6 pct rise, while Deutsche Bank predicts pretax 736 mln
* Virgin Mobile Holdings PLC six months to September revenues 251 mln stg vs 231.1 mln, EBIDA 53 mln vs 56 mln, interim dividend 3.7 pence vs 10.6

Outlook

AFX UK at a glance share guide

LONDON (AFX) - Leading shares are expected to open slightly lower this morning, weighed down by a mixed session on Wall Street last night, while another raft of corporate earnings should keep traders busy again, dealers said.

MARKETS
FTSE 100 5,430.0 down 9.6
FTSE 250 8,061.2 down 35.8
DJIA 10,674.76 down 11.68
Nasdaq Comp 2,187.93 up 1.19
S&P 500 1,231.21 up 2.20
Tokyo: Nikkei 14,304.95 up 134.08
Hang Seng midday 14,649.50 down 1.04
Gold - 477.70 usd (468.05 usd)
Oil - Brent Dec 56.00 usd (55.18 usd)

TODAY'S PRESS
* Cazenove Capital Management, the 9.3 bln stg asset management arm of Cazenove Group, is to be spun off by the end of the year to create an independent business - The FT
* BPB yesterday agreed a 775 pence a share cash offer from SAINT-GOBAIN, valuing the world's number one plasterboard company at 3.9 bln stg - The FT
* The House of Commons Environment, Food and Rural Affairs committee will today publish a report backing reform of the EU sugar trading regime - The Telegraph
* REUTERS is facing a copyright lawsuit from a British software firm that threatens to throw up obstacles to the planned 1.9 bln usd sale of its Internet brokerage unit - The Guardian
* BPB is on the brink of accepting a 775 pence a share takeover bid from the raiding French building materials group - The Times
* Speculation over private equity interest in COMPASS GROUP intensified amid indications that some mooted suitors have started to sound out potential management to run the troubled food service group - The Times
* VODAFONE has held talks with about 30 companies in Japan concerning it hosting them on its network as mobile virtual network operators as part of the restructuring programme at its troubled Japanese unit - The FT

PRESS COMMENT
FT
THE LEX COLUMN comments on J SAINSBURY (Lower prices, improved product availability and those ubiquitous Jamie Oliver ads are luring shoppers back to J Sainsbury), US/European equities (The consensus is not always wrong. As expected, European equities have outperformed their US counterparts this year -- at least in local currency terms), UK economy (Perhaps the only clear response to the BoE's Inflation Report is that if you buy the view of the Bank, buy the banks), ENDESA (A plague on both your houses. In the grand drama being played out in Spains energy sector, Madrid and Brussels have made mincemeat of Endesas defence), NYSE (One of the downsides of complex deals is that even the sensible ones can be derailed. Luckily, this still appears unlikely with the proposed merger between the New York Stock Exchange and the electronic trading operator Archipelago), MACQUARIE BANK (Australias Macquarie Bank has worked its unique business model into a gold mine for investors and top employees alike)

Independent
THE INVESTMENT COLUMN: SCOTTISH & SOUTHERN (Long term winner), LAND SECURITIES (Hold), DIMENSION DATA (Buy) -- MARKET REPORT MONSTERMOB (talk of bullish trading update), OIL QUEST RESOURCES (rumour that group is mulling a significant acquisition)

Times
Directors' dealing: WILMINGTON GROUP (company secretary sells 432,000 shares at 180 pence, managing director of Wilmington Business Information and managing director of Waterlow Legal & Regulatory disposed of 161,461 and 51,736 shares respectively) -- Rumour of the day: AEGIS GROUP (talk of 140 pence per share bid from WPP) - TEMPUS: LAND SECURITIES (Buy), LONMIN (Buy), SCOTTISH & SOUTHERN (Buy)

Express
MARKET REPORT: ALLIANCE UNICHEM (doubts over proposed merger with BOOTS), LONDON CLUBS (bid talk), MISYS (bid talk), GROUP 4 SECURICOR (suggestions that it is seeking bolt-on acquisitions and could spend up to 370 mln stg) -- SHARE WHISPER: BTG (talk of interest from SERONO)

Mail
AEGIS (talk of WPP bid)

Telegraph
MARKET REPORT AEGIS (rumours that WPP and private equity partner HELLMAN & FRIEDMAN are about to launch a bid at 140-142 pence per share) -- QUESTOR: EMI (Worth a look), SCOTTISH & SOUTHERN (worth holding on to for the 4.5 pct yield)

Guardian
MARKET FORCES BTG (rumours of bid)

Good morning all.

Good morning all

Recommended retirement age 67? I don't think so, its bad enough I have to wait to 65 instead of 60 to get the state pension. Just as well I'm making my own provisions, as it really is pointless relying on the state!

Personally I want to be able to retire early not later.

Morning All,

Things not looking to clever at BFC.

End-of-day Market Summary