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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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Ah so that's why it been so quiet - go anywhere special - mel?

From a DJ colomnist

PARIS (Dow Jones)--The last thing any investor wants these days is for a company they're a shareholder of to be Spitzered.

But if it happens, it would be foolhardy to shrug off the implications - even if you suspect there's more to the New York attorney-general's crusade against improper business practices than a desire to root out poor governance.

After all, Citigroup's payment of the lion's share of the $1.4-billion settlement earlier this year over tainted bank research reports was large enough to send a chill down any investor's spine.

That makes the selloff in GSK shares Wednesday understandable. It was triggered by news of Eliot Spitzer's lawsuit accusing the British drugs company of fraud in concealing concerns about the efficacy and safety of its top-selling treatment for depression, Paxil, when prescribed for children.

But the sudden evaporation of a couple of billion pounds of GSK's market value looks overdone - to a degree.

Spitzer is only after repayment of what is likely to have been a couple of hundred of million dollars in profit from the sales of Paxil to children. There are unspecified damages, too, and the threat of future class-action suits. Of course, GSK has deep pockets, with operating cashflow of GBP7.0 billion in 2003.

In addition, there's the distinct possibility some sort of out-of-court settlement will be reached.

As worrying as GSK's handling of the diffusion of information surrounding Paxil is, a big pharmaceutical company that's having trouble with a drug being used in the highly sensitive and emotive area of treating depressed and suicidal children is perhaps a choice target for an attorney-general with political ambitions.

Remember, too, that if anything GSK's problem is that Paxil has been too successful in treating depression, luring makers of generic drugs to successfully challenge its patents. The start of sales of generic alternatives helped peg back GSK's revenue from Paxil in 2003, and led the company to take a GBP633-million impairment charge for the carrying value of Paxil's product rights.

At the same time, attentive investors have known for some time that GSK was running into legal trouble over Paxil. In the U.S., GSK is facing suits claiming Paxil is addictive. In the U.K, partly thanks to media coverage detailing the serious side-effects suffered by some patients on Seroxat (as Paxil is known there), GSK dropped its claim that the drug wasn't addictive.

To be sure, treating depression with drugs that act on the body's central nervous system is a notoriously inexact business. And determining the efficacy of drugs on already suicidal patients isn't easy. If a patient says he or she wants to take their own life, who's to say it's because of the illness or the drug?

For investors, however, the fear is that the swift turnaround in GSK's fortunes regarding Paxil is symptomatic of the way the company is being managed. Even if GSK didn't cover up, as Spitzer claims, studies showing the weaknesses of Paxil, it has arguably been insensitive in tackling problems related to the drug while raking in revenue from it.

And with generic competition increasingly a threat to its other top-selling drugs, such as another anti-depressant, Wellbutrin, worries about short- to medium-term earnings growth at GSK, given its far-from exciting pipeline, are likely to linger.

So while the "Spitzer discount" may be too deep, don't expect the share price to bounce back quickly.

figures coming out of the US seem to be the same or better than expected.

Some good news from IRAQ:

NAJAF, Iraq (AFX) - Iraq's revered Shiite Muslim spiritual leader Grand Ayatollah Ali al-Sistani gave a cautious backing to the country's new caretaker government, stressing the need for it to return security and sovereignty.

I have a small portfolio in the US, which until earlier this year I'd ignored for the last 2+ years. After chatting to KeithB about how to use the trading platform (which I didn't understand at all) I "tidied" it up, sold a few, bought a few, left a few, and it's now worth double what it was worth (in US$) than it was a year ago, (shame about the exchange rate)!

Market ramblings wrap.

Having been out for most of the trading day I came back to find the FTSE100 closed up in the end by 12.6 points

Having not had my daily dose of news I will avoid making any comments on what drove the market. You already know anyway.

Now off to think about what to do for tomorrow.
M

In the rest of the Market

Top % gainers for the day (of which I am sad to day I held none)

YTE Yates Grp. 19
MMC Mangmnt.Cons.GP 18
PVN Proven VCT 18
PVM Proven Media 17
OND Overnet Data 12
BGYA Br.Energy 'A' 11
XTL XTL Biopharm 11
DTG Dart Group 11
PEN Pennant Int. 9
BLR Black Rock OIL 9
CLC Clinical Comp. 9
AVT Adv.Tech.UK 9
HYWD Heywood Wms. 9
LEG Legendary Inv. 9
GNS Genus 8
MCF Madisons Coffee 7
DIA Diagonal 7
EPO Earthport 7
CRX Cyprotex 6
CFP CFA Capital GRP 6
AMU AIR Music&Media 6
DINK Dinkie Heel 6
CRP Cryptologic 6
LPA LPA Group 6
MRG Mercury Recyc. 5
PRO Provalis 5
VTH Vtech Hldgs. 5
GMN Gold Mines Sard 5
ACE Accident Exch 5
VTI Virotec Intl 5

Top % losers for the day (of which I am saddened to say I held one. Bugger!)

MAT Matisse EX-ENT -63
TDM 3DM Worldwide -21
IAL Inter-Alliance -20
CBF Cobra BIO-Man. -19
PND Penn.Down.AIM 2 -15
MDS Mondas -12
FRO Frontline -12
TTL TTG EUR -11
ARC ARC Risk Man. -10
VHL Vane Hldgs -10
AFG African Gold -10
SRTS Surface Tech -8
CLR Clover Corp -8
ETQ Energy Tech. -8
ASR Avionic Service -7
PIP Pipehawk -7
BFRD Beauford -7
HRR Harrier Group -7
TOYE Toye & Co. -6
MKP Mark Kingsley -6
DVS Designer Vision -6
ZOX Zincox Res. -6
SGF Singer&Frid.AIM -6
TEG Teather&Grnwood -6
PDX Pursuit Dynamic -6
IGA Ingenta -6
PET Petrel RES -6
BHM Bookham Tech -5
NTX NXT -5
AFD African Diamond -5

Price x Volume leaders

VOD Vodafone Grp. 508,371
GSK Glaxosmithkline 414,862
MKS Marks & Sp. 406,422
BP. BP 338,197
LLOY Lloyds TSB Grp. 290,350
HSBA Hsbc Hldgs.UK 252,974
AZN Astrazeneca 131,956
RBS Royal Bank Scot 110,415
BSY Bskyb 99,977
EMG MAN Group 98,227
RIO RIO Tinto 97,772
SAB Sabmiller 92,177
BARC Barclays 90,974
TSCO Tesco 88,699
HG. Hilton Group 87,881
SHEL Shell 85,684
DGE Diageo 75,021
KGF Kingfisher 72,778
BATS Br.Amer.Tob. 69,651
GUS GUS 68,397
BT.A BT Group 67,756
ANL Abbey Nat. 67,649
BLT BHP Billiton 67,461
BAA BAA 65,472
HBOS Hbos 59,671
STAN Stand.Chart. 58,501
BG. BG Grp. 58,002
BOOT Boots Group 57,497
CW. Cable & Wire 56,797
OOM Mmo2 54,706

Sector Indices % movement

Personal Care & Household Products 1.80%
Beverages 1.73%
Pharmaceuticals 1.35%
Aerospace and Defence 1.18%
Health 1.06%
Electronic & Electrical Equipment 0.83%
Tobacco 0.74%
Automobiles 0.54%
Oil & Gas 0.41%
Food & Drug Retailers 0.36%
Transport 0.30%
Engineering & Machinery 0.25%
Life Assurance 0.16%
Construction & Building Materials 0.16%
Food Producers & Processors 0.05%
Electricity 0.03%
Packaging 0.00%
Restaurants,Pubs & Breweries 0.00%
Water 0.00%
Gas Distribution 0.00%
Distributors 0.00%
Diversified Industrials 0.00%
Forestry & Paper 0.00%
Leisure,Entertainment & Hotels -0.07%
General Retailers -0.11%
Software & Computer Services -0.23%
Real Estate -0.30%
Banks -0.34%
Chemicals -0.41%
Media & Photography -0.54%
Telecommunications Services -0.67%
Investment Companies -0.69%
Mining -0.79%
Support Services -0.93%
Speciality & Other Finance -1.21%
Information Technology Hardware -1.46%
Insurance -1.68%
Steel & Other Metals -4.55%

They say there's a first for everything, I had TWO in the top % risers (mind you one was in the Top % losers yesterday so is cancelled out) but ones enough, mustnt be greedy.