morning all

MARKETS
FTSE 100 4,819 up 21.7
FTSE 250 6,896.3 down 30.4
DJIA 10,829.19 down 25.35
Nasdaq Composite 2,177.00 down 0.19
S&P 500 1,213.45 down 0.09
Nikkei 225 11,488.76 up 107.20
Hang Seng P 5 PTS AT 14,271.38 up 5.0
Gold 443.72 usd (443.37 usd)
Oil - Brent Feb 39.17 usd (40.07 usd) (24/12/04)

BREAKING NEWS
* COLLINS STEWART demands rival ICAP takes the oath over confidential information - Telegraph
* Virgin and HMV boost investment in download market; Christmas period sets record for online music purchases - FT
* TESCO's Mobiles business sees user base increase - FT
* Asian mobile phone made by NEC tops Christmas charts, pushing NOKIA into second place - FT
* Halliburton job cuts may signal sale of UK unit, Kellogg Brown & Root - Times
* Merrill Lynch in talks on China joint venture - FT
* Time Warner set to enter US mobile market - Times
* Rosneft link with Gazprom in doubt after Yukos deal - FT
* Lawyer's Linklaters tops list list for M&A this year - FT
* Asia quake death toll heads for 100,000 - FT

PRESS COMMENT

FT
Lex Column: US cable and telecoms (Two industries gearing up for a head-on clash. There is clearly a chance the war could turn bloody. But cable operators have some time on their side. Cable valuations have probably overdone their anticipation of the pain to come); Network TV (Reports of the death of the TV broadcast networks has long been exaggerated. With digital video recorders poised to become more mainstream, pressure on the networks will only increase)

Times
Rumour of the day: EIDOS (rumours of successful outcome to long-running takeover talks as sector consolidation steps up) - Tempus: 'Dark horse to the fore in 2005's race of the sectors' (Real Estate will surely subside after two strong years; probable consumer downturn could make it a lacklustre year for all retailers, for housebuilders, and many cyclical services groups; Retail banks would be hit be downturn in mortgage market; Next year's winners are not so obvious - Life assurance could do well; Telecoms looks well-placed; and Support services should be shielded from the consumer downturn)

Independent
Shares and Market Report: BIG YELLOW (talk of a record order book); PREZZO (talk of strong trading in the run-up to Christmas)

Express
Share Whisper: LONDON MERCHANT SECURITIES (rumours of stakebuilding that could lead to a bid for the group); Who's dealing: ELAN (non-executive director John Groom more than doubles his stake)
jmh/ak

PRZ breakout on rumoured good trading ;o)
Morning all.

Morning all.

Morning all

covered BUR +15.25