S&P Futures

The Nasdaq erased almost all of its gains for 2004 following a heavy sell off in semiconductor stocks

Prudential the Uk's second-largest insurer reported a larger fall then expected in annual profit down 30 percent to 794 million below expectations of 850 million pounds. It was optimistic on growth and signalled a possible increase in future dividends whic this year have been cut to 16 pence a share compared with 26 pence the previous year.

British American Tobacco reported a 26 percent fall in 2003 profits to 1.567 billion pounds and warned that at current exchange rates the growth in its 2004 profits would be adversely affected. They also said it expected real momentum in its business to continue during 2004.

Cookson Group electronics and ceramics engineer reported a jump in annual profit to 32.6 million pounds up from 4.1 million. It also said underlying trading conditions in the new year to date were in line with a much improved final quarter.

Alliance UniChem drugs distributor and retailer reported an expected 16 percent rise in profits to 209.9 million and was confident of further progress despite efforts by some European governments to drive down medicine prices.

Whitbread said its annual results would meet market forecasts, with a strong performance at its David Lloyd health clubs offsetting tougher trading at Marriott hotels.

George Wimpey housebuilder reported a forecast beating 30 percent rise in annual profit to 378 million pounds and expected more progress this year.

Xstrata miner reported that the dollar had caused a big fall in 2003 annual profit to$164.2 million less than half 2002's result of $424 million and towards the bottom end of market expectations. The firm gave an upbeat outlook and announced two new expansions.

Alliance UniChem (F), Amersham (F), Atlantic Global (F), British American Tobacco (F), Cookson (F), Croda (F), Dairy Farm International Holdings Ld (F), Domino's Pizza (F), Kerry Group'a' (F), Molins (F), Prudential (F), Thorntons (F), Wembley (F), Wimpey (F), Xenova (F), Xstrata (F),Surface Transforms (I), Thorntons (I),Brewin Dolphin (AGM), Tadpole Technology (AGM) 9:30 UK Q4 Provisional business investment

H&R Block (Q3), Brown-Forman Corp (Q3) Clear Channel Comms Q4, HJ Heinz Co (Q3),

Home Depot (Q4), Edison International (Q4) Federated Department Stores Inc(Q4) Express Scripts (Q4), Sempra Energy (Q4)

13:00 Consumer Confidence (93)

Repsol, Michelin

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