Good morning and Happy New Year traders!

Today in Asia, the Hang Seng Index ended the morning up 50.55 points at 14,926.98. In Japan the New Year holiday goes on....

New York's main oil contract, light sweet crude for delivery in February, was up 36 cents at $61.40 a barrel from its close of $61.04 in the US Friday.

Back with UK news soon....

Happy trading!

G.

AFX UK at a glance share guide

LONDON (AFX) - Leading UK shares are seen opening higher this morning taking their cue from yesterday's gains on several European bourse with energy stocks likely to be in focus following Russia's decision to cut off gas supplies to the Ukraine, dealers said.
Spreadbettor CMC Markets is calling the FTSE 100 16 points higher at 5,635, after the FTSE Eurofirst 300 yesterday rose 0.5 pct to 1,282.05.

MARKETS
Tokyo closed
Hang seng midday 14,926.98, up 50.55
Gold 512.55 usd (512.55 usd)
Oil - Brent Feb 58.98 usd (58.98 usd)

TODAY'S PRESS
* Russian gas row hits Europe' countries suffer large cuts to supplies; governments urge Moscow and Ukraine to resolve dispute; 'worry of knock-on' in UK - FT
* Economists broadly sceptical of Treasury forecasts for rebound in UK growth, FT survey reveals
* Volkswagen attracts seven bidders for its Europcar car rental business, including one from Sixt, a rival German car rental business - FT
* Venezuela takes state control of 32 privately operated oilfields in a move that will raise fiscal revenue but could damp future investment to boost output from the world's fifth biggest exporter - FT
* NEXT will tomorrow say it has halted its dramatic decline in sales as it becomes the first of the high-street majors to announce trading figures for the run-up to Christmas - Telegraph
* Ex-BP John Buchanan to take over as chairman of SMITH & NEPHEW - Telegraph
* LONDON CLUBS INTERNATIONAL submits an application to open a casino at the Grosvenor House Hotel on London's exclusive Park Lane - Times
* ROYAL DUTCH SHELL looking at buying out minority shareholders in its Canadian subsidiary in a 3.5 bln stg deal - Mail

PRESS COMMENT
FT
THE LEX COLUMN comments on US economy (decisions new Federal reserve chairman makes in his first months could make the difference between a gentle slowdown towards the end of 2006, or something more painful), European economy (the market expects a further 50 basis point rise in interest rates in 2006; even then, tighter monetary conditions seem unlikely to crimp growth), Japanese economy (if the Bank of Japan heeds the government and raises rates at a glacial pace, real interest rates could conceivably become negative from about zero now), Stapled financing (most obvious concern about stapled financing is that it could lead to a conflict of interest), Alitalia (may be lowly priced, but that does not make them cheap)
Guardian
Stock market tips for 2006: Paul Murphy (FUTURAGENE), Mark Milner (ROLLS-ROYCE), Neil Hune (GEORGE WIMPEY), Julia Finch (HALFORDS), Charlotte Moore (GLAXOSMITHKLINE), Jill Treanor (ROYAL BANK OF SCOTLAND), Richard Wray (BLUE STAR MOBILE), Terry Macalister (PREMIER OIL), Nick Fletcher (AUTOCLENZ), Simon Bowers (WOLVERHAMPTON & DUDLEY)
Telegraph
Spreadbetting experts reveal where smart money is headed: Angus Campbell, Finspreads: ASTRAZENECA (buy), BP (buy), BSKYB (sell), DAILY MAIL & GENERAL (sell); David Buik, Cantor Index: HSBC (buy), ROLLS-ROYCE (buy), NEXT (sell), RIO TINTO (sell); David Jones, CMC Markets: RIO TINTO (buy), BRITISH AMERICAN TOBACCO (buy), DSG INTERNATIONAL (sell), COMPASS GROUP (sell); Will Armitage, IG Index: VODAFONE (buy), ROYAL BANK OF SCOTLAND (buy), ANGLO AMERICAN (sell), WPP (sell); Simon Denham, Capital Spreads: CAIRN ENERGY (buy), PARTYGAMING (buy), MARKS & SPENCER (sell), BRITISH AIRWAYS (sell) - QUESTOR - Six of the best for a steady new year: ROYAL BANK OF SCOTLAND, CENTRICA, REUTERS, MEGGITT, COOKSON, CLINTON CARDS
Sun
Six of the best shares for 2006: TULLOW OIL, HALFORDS, ROYAL BANK OF SCOTLAND, ZENITH HYGIENE, GAS TURBINE EFFICIENCY, PRUDENTIAL
Express
Top 10 share picks: CLAPHAM HOUSE, HARGREAVES SERVICES, ICI, MARSHALLS, NORTHERN ROCK, NORTHUMBRIAN WATER, PRUDENTIAL, STHREE, VT GROUP, WATERMAN GROUP - HOW WE FARED WITH 2005'S TIPS: AIR MUSIC & MEDIA (-55 pct), ANTOFAGASTA (+66.7 PCT), EUROPEAN GOLDFIELDS (-7.9 pct), GUS )+10 pct), HALFORDS (+14.5 pct), HORNBY (-27.7 pct), MERRILL LYNCH NEW ENERGY (+59 pct), PARAGON (+53 pct), P&O (+56.6 pct), WOLVERHAMPTON & DUDLEY BREWERIES ()+15.7 pct)
Independent
OUR TIPS FOR 2006: ARDANA, COMPASS, DATAMONITOR, FKI, GUS, KAZAKHMYS, KIER, LONDON MERCHANT SECURITIES, NORTHGATE, XANSA

Good morning all and a HAPPY NEW YEAR.

Let's hope that 2006 will be a good tranding and investing year for everyone.

Good morning all, and a Happy New Year to all.

I'm feeling very positive about this year

I think last year gave a good solid grounding for good things for the comming year.

End-of-day Market Summary