M&S staff Christmas bonus
MoneyAM
Marks & Spencer's 67,000 staff will this week get 40% off Christmas goodies at the struggling UK retailer as CEO, Stuart Rose, looks to shift stock and boost sales, the Financial Times reported.

It said the three-day staff sale comes on top of today's 20% off sale for all M&S customers. M&S also staged a one-off sale last month to 'kick-off Christmas'.

The FT noted it is the first time that the retailer has offered such Christmas extravaganzas, fuelling speculation that M&S is having a tough time.

It cited people close to the retailer as saying the sales were part of Rose's desire to trade the business more aggressively.

Reed Elsevier repeats 2004-5 adj EPS growth targets

AMSTERDAM (AFX) - Reed Elsevier said it still expects to report mid- to high single-digit adjusted earnings per share growth this year at constant currency rates.
Adjusted EPS excludes amortisation and exceptional items. Negative currency effects from the weak dollar versus the euro and pound sterling are expected to largely cancel out the growth in reported EPS, the company said.
Growth in adjusted EPS at constant currency rates is expected to accelerate in 2005, helped by an overall market recovery, the Anglo-Dutch publisher said.
Reed Elsevier expects in particular the business-to-business and education markets to show improvement next year, with recent investments also helping the company to accelerate sales growth and improve margins.

Leading shares look set for solid gains at open as the benefits from last night's triple-digit advance by the DJIA and follow-through buying in Asia is likely to offset any caution ahead of today's UK pre-Budget report, dealers said.
Spread betting firm FinSpreads expects the FTSE 100 index to open around 20 points higher today.
The UK blue chip index closed 32.5 points higher at 4,735.7.
Overnight on Wall Street, US blue chips posted a triple-digit gain to end at a nine-month high Wednesday while the Nasdaq rose to its best level since January, buoyed by a more than 7 pct drop in oil prices and better than expected US manufacturing and consumer spending data.
The DJIA ended at its high for the session, up 162.20 points points to 10,590.22, while the Nasdaq composite index ended 41.42 points stronger at 2,138.23.
The buying sprees carried over in Asia today, the Nikkei 225 index ended 188.82 points higher at 10,973.07, while at midday the Hang Seng was 145.88 points stronger at 14,308.68 in knee-jerk reactions to the rebound on Wall Street.

Industry watchdog Ofwat today sanctioned a big increase in British household water bills over the next five years as it looks to help companies fund further upgrades of antiquated water and sewerage networks.

The Office of Water Services said the average bill in England and Wales will rise by 46 stg, or 18 pct, per year over and above inflation to 295 stg by 2009/10.

In return Ofwat wants the country's 22 water and sewerage companies to invest 16.8 bln stg to maintain and upgrade their systems, many of which date back to the Victorian age.......

MARKETS
FTSE 100 4,735.7 up 32.5
FTSE 250 6,594.1 up 16.7
DJIA 10,590.20 up 162.20
Nasdaq Coq 2,138.23 up 41.42
S&P 500 1,191.35 up 17.55
Tokyo: Nikkei 10,973.07 up 188.82
Hang Seng midday 14,308.68 up 145.88
Gold 452.77 usd (448.97 usd)
Oil - Brent Jan 42.31 usd (45.58 usd)

BREAKING NEWS
* Whitehall fury at Brown demands for budget cuts; Chancellor tries to prevent pre-election increase in council tax; official attacks 'robbing Peter to pay Paul' - FT
* Sterling surges towards 2 usd barrier; rate rise predictions strengthen pound to levels last seen before Black Wednesday in 1992 - Telegraph
* Singapore hit by new 550 mln usd trading scandal - FT
* MARKS & SPENCER sales fuel speculation of tough times; M&S' 67,000 staff will this week get 40 pct off Christmas goodies at the struggling retailer as Stuart Rose, chief executive, looks to shift stock and boost sales - FT
* GLAXOSMITHKLINE hails blockbuster; Garnier says cervical cancer vaccine may be worth as much as 15 bln usd - Guardian
* Ian Gowrie-Smith, the pharmaceutical industry entrepreneur, understood to be in advanced talks to sell SKYEPHARMA, the drug delivery specialist he founded eight years ago, for upwards of 500 mln stg - Guardian
* Liverpool Football Club in talks with a consortium led by two US-based entertainment executives that could lead to a 100 mln stg-plus deal for control of the club - FT
* Vincent Tchenguiz, one of the property tycoon brothers who own Rotch, the private property group, trying to buy between 10 pct and 20 pct of IFX, the foreign exchange and spread-betting company - FT
* Sir Richard Branson's VIRGIN MOBILE makes bid to lock in its pay-as-you-go customers with the offer of 99 stg handsets complete with eight months of free calls and texts - Express

PRESS COMMENT
FT
THE LEX COLUMN comments on sterling, Eurozone bonds, SAGE (could have life in them yet), China Aviation Oil - MITCHELLS & BUTLERS (may be a while before the share price froths up further) - RPC (look teqting for investors willing to take a punt on the timing of any fall in raw material costs and recovery in European demand)
Mail
BIOQUELL (hospital bug hope injects excitement) - PHS (Numis sell)
Express
WHO'S DEALING: PARAGON (chairman and chief executive sell stock after exercising options) - SHARE WHISPER: TRIPLE PLATE JUNCTION (more good news could be on the way regarding its prospects in Vietnam) - BROKER'S VIEW: PARITY GROUP (Altium Securities sell)
Independent
THE INVESTMENT COLUMN: SHAFTESBURY (buy), EXPRO INTERNATIONAL (avoid), OASIS HEALTHCARE (hold on for better times)
Guardian
PREMIER FARNELL (CSFB sell)
Telegraph
QUESTOR: SAGE (not worth chasing), WS ATKINS (still some long-term upside), DE VERE (for the patient investor, there is good value)
Times
RUMOUR OF THE DAY: SECTORGUARD (talk it is close to its first bolt-on acquisition in the Midlands) - DIRECTORS' DEALINGS: GMA RESOURCES (technical director sells stock for 45,750 stg) - TErUS: MITCHELLS & BUTLERS (buy), BRADFORD & BINGLEY (hopes of takeover bid is best reason for holding the shares), SAGE (buy)
The Shares Magazine
Buy DIMENSION DATA, CANTERBURY FOODS, PACE MICRO TECHNOLOGY, MARCONI, WS ATKINS; The Plays of the Week: buy GLADSTONE, PARAGON, CHARTERIS; Tip Updates: buy BSS GROUP, BIOFUELS CORPORATION, YOOMEDIA

Morning all.

morning campers

its that cold here i had to snap the dog off the lamppost :-)

Morning punters!

UVS - losses worsen
http://www.uk-wire.com/cgi-bin/articles/200412020700038973F.html

FDL - acquisition for cash and interims look good
http://www.uk-wire.com/cgi-bin/articles/200412020700038717F.html
http://www.uk-wire.com/cgi-bin/articles/200412020700038712F.html

CRU - profit warning for FY. Divi cut, which was its main attraction
http://www.uk-wire.com/cgi-bin/articles/200412020700038796F.html

APG - interims and progress look poor
http://www.uk-wire.com/cgi-bin/articles/200412020700059002F.html

UCL - agreement on extension of contract
http://www.uk-wire.com/cgi-bin/articles/200412020700058987F.html

Vp. - looking OK at half way - in the price?
http://www.uk-wire.com/cgi-bin/articles/200412020700069030F.html

ELE - minnow with a decent trading update. Chart looks quite nice
http://www.uk-wire.com/cgi-bin/articles/200412020700079033F.html

ISD - thinly traded tiddler I've been watching trialling with B&Q. Bullish update. Someone knew yesterday. ;-))
http://www.uk-wire.com/cgi-bin/articles/200412020700089052F.html

HBR - they say inline, I say not on the forecasts I've got.
http://www.uk-wire.com/cgi-bin/articles/200412020700099057F.html

ZTX - not the best pre-close statement
http://www.uk-wire.com/cgi-bin/articles/200412020700099058F.html

MDY - terminates ELA agreement to go it alone?
http://www.uk-wire.com/cgi-bin/articles/200412020700109063F.html

CYH - wider loss, bullish outlook, share consolidation to prevent volatility. Hmm
http://www.uk-wire.com/cgi-bin/articles/200412020700109066F.html

WDNY - results look very good. Bullish for next year
http://www.uk-wire.com/cgi-bin/articles/200412020700109070F.html

DLAR - making a comeback?
http://www.uk-wire.com/cgi-bin/articles/200412020700189097F.html

AMS - NHS deal
http://www.uk-wire.com/cgi-bin/articles/200412020700199102F.html

JLP - acquisition of interest
http://www.uk-wire.com/cgi-bin/articles/200412020700239109F.html

XAN - returning to profit?
http://www.uk-wire.com/cgi-bin/articles/200412020700299119F.html

That's got to be it, Loads more, but far too much to get through today

Have a good one.

The LMC train is off and running again this am......

long BLND 822 s/l on

long SOF 154.5 s/l on

Morning all.

long ARM 102.75 s/l on

So far today:

Lobbed SPS +5
Longed GLD 23
Re-longed AXO 145

WTB looking good :-)

long MNKS 183 s/l on

long CTM 45 s/l on

long CS 55 s/l on

LAND cracked 1300 and rising !!!

covered WTB + 6.5 +8.5