MARKETS - 28/12/04

FTSE 100 closed
FTSE 250 closed
DJIA 10,854.54 up 78.41
Nasdaq Composite 2,177.19 up 22.97
S&P 500 1,213.54 up 8.62
Nikkei 225 11,381.56, down 42.57 (29/12)
Hang Seng 14,270.79, up 73.84 (29/12)

BREAKING NEWS - WEDNESDAY
* SSL seen as new year bid target, with GPW understood to be starting due
diligence work on behalf of a corporate client - FT
* TESCO on starting line for Chinese expansion - Telegraph
* BARCLAYS seeks to allay fears over security breach in its telephone banking
system after it became overloaded with calls from customers - Telegraph
* Germans aim for quick LONDON STOCK EXCHANGE victory - Mail
* Frankfurt fears big job losses if Deutsche Boerse wins LSE - Times
* Debenhams buys 10 pct stake in Cypriot retailer - Independent
* Blockbuster threatens target Hollywood Entertainment with hostile move - FT
* Overseas companies warned against UK tax regime - FT
* Inland Revenue widens net on offshore trusts' inheritance tax avoidance - FT
* 1 mln children lose out on tax break as Child Trust Funds face cut in
maturity value - Telegraph
* North-South UK house price gap narrows - Independent

PRESS COMMENT
FT
Lex Column: US economy (what worries such as people former Fed chairman Paul
Volcker is not the short term outlook -- which seems very reassuring -- but
the longer term financial imbalances); Europe (almost the last thing the
region needs is slower export growth and a sharp fall in the dollar against
the euro); Japan (Investors can start 2005 expecting the best, but they cannot
the risk that Volcker's prediction of a 75 pct chance of a financial crisis
hitting America in the next five years comes true)

Daily Express
Equity and economic analysts predictions for 2005; Among them, John Hatherley
of M&G tips ANGLO-AMERICAN, P&O, ENTERPRISE INNS, FIRST CHOICE, and BPB;
Graham Secker of Morgan Stanley spotlights L&G and SCHRODERS as preferred
stocks; Philip Shaw of Investec thinks investors should tuck away MMO2 and
SERCO; among Jeremy Batstone's tips at Charles Stanley are GLAXOSMITHKLINE,
RBoS, WOOLWICH, and BBA; Ian Scott of Lehman Brothers' tips include BARCLAYS,
GLAXOSMITHKLINE and MAN GROUP

Morning all

Morning all,hows the house steve ?

Morning Dave

Just got the plaster and ceilings to remove and then it'll be back to the shell. Then the damp proof course can go in and then once i get planning it will be all systems go. Happy so far but a long way to go!!!!

Have fun,only another 4 months and then it gets warm {joke}.

long SSL 291 s/l on

I bet H is worried,with the big game around the corner,i know a few iffey carparks where she dont want to park.

Dave

Ive parked in one of them before lol!!! Be nice if your lot could do us a favour but it may be a little harder than the 2 games you have had last week

Just have to wait and see,all the lads are brimming with confidence,,no problem rafa has a secret plan,icant say to much as H mite tip of jose.

Glad I stuck with PDH. Took off again this morning. (Paused for breath at 8:30)

London shares - midmorning features

FTSE 100 gainers
Shire Pharmaceuticals 546-1/2 up 10-1/2
US drug issues rally yesterday
Land Securities 1,408 up 22
Property issues in demand amid reports of good City office sales
Alliance & Leicester 917 up 13
Rally after recent falls on disappointing trading update
Wm Morrison Supermarkets 208 up 2-1/4
Hopes Christmas trading was strong
Liberty international 955 up 10
Property issues in demand amid reports of good City office sales
Sage Group 200-3/4 up 2
Strong gains overnight by Nasdaq
United Utilities 632 up 6
Press reports that Ofwat could OK further water mergers
BOC 983-1/2 up 8-1/2
Recent positive broker comment

FTSE 100 fallers
Enterprise Inns 785-1/2 down 9
Ex-dividend today; profit-taking after recent gains
Amvescap 316-3/4 down 3-1/4
Profit-taking after recent gains
BT Group 202-3/4 down 2
Ex-dividend today
BP 507-1/2 down 5
US oils inventory data due today, key for crude price
Carnival 3,199 down 31
Travel stocks see knee-jerk knock from Asian tsunami
Aviva 624 down 4
Knee-jerk falls on concerns over cost of Asian tsunami
Prudential 445-1/2 down 3-1/4
Knee-jerk falls on concerns over cost of Asian tsunami
InterContinental Hotels 650 down 6-1/2
Hotel stocks see knee-jerk knock from Asian tsunami
J Sainsbury 273-1/2 down 1-1/2
Reports co to cut clothing prices again
Hilton Group 281 down 1-1/2
Hotels see knee-jerk knock from tsunami; 'White Christmas' for Ladbrokes

FTSE 250 risers
FirstGroup 349 up 17-3/4
Transport stocks rally
SSL International 293-3/4 up 14-3/4
Bid speculation re-emerges, says FT; Co declines to comment
Singer & Friedlander 273-1/2 up 12
Press reports of possible bid soon from Iceland's Kaupthing
Provident Financial 678 up 14-1/2
Rally after falls on news of Competition Commission probe into industry
Arriva 515 up 10-1/2
Transport stocks rally
Brixton 362-3/4 up 7-1/4
Recent 400 mln stg property portfolio disposal; sector in demand
Kelda Group 616 up 11-1/2
Press reports that Ofwat could OK further water mergers

FTSE 250 fallers
First Choice 150 down 4-1/2
Travel stocks knocked by Asian tsunami; Co sees no material impact
WH Smith 317-1/2 down 6
Ex-dividend today, high street sales uncertainties
Hiscox 163 down 2-1/2
Lloyd's underwriters unnerved by Asian tsunami impacts
Catlin Group 328 down 5
Lloyd's underwriters unnerved by Asian tsunami impacts
Wellington Underwriting 88-1/2 down 1-1/4
Lloyd's underwriters unnerved by Asian tsunami impacts
Body Shop 163 down 2-1/4
UK high street uncertainties; Asian business impact from tsunamis
Benfield Group 285 down 3
Lloyd's underwriters unnerved by Asian tsunami impacts

Other risers
Jarvis 23.50 up 5.50
Post interim losses after big write-offs; Tube Lines sale last Friday
Cater Barnard 0.40 up 0.03
EGM today
MyTravel 6.40 up 0.42
EGM rubber-stamp for restructuring last Friday's offsets tsunami impact
London & Boston Investments 7.75 up 0.50
Swings into H1 profit, FY prospects 'encouraging'
Maintel Holdings 112-1/2 up 7
Sunday Telegraph 'buy'
Matrix Communications 219 up 12
Global contract win from wireless operator announced on Christmas Eve
Intellego 4.75 up 0.25
Static H1 pretax loss, says sales hike 'augurs well for future'

Other fallers
Earthport 1.20 down 0.15
Baltimore bid possibilities situation
SVB Holdings 33 down 2
Lloyd's underwriters unnerved by Asian tsunami impacts
Ultraframe 65 down 3-1/2
Ex-dividend today
OneClickHR 3.75 down 0.12
Warning of increased full year losses on Christmas Eve

covered BOC +5.75 +9 :-)

covered SSL +1.5

Is everyone onboard ACE?

Wish I was Juzzle. Flying today, well done :-)

It's been pulled back a little, but I still feel that 3 (any day now) will be merely a milestone on its way to 4 and beyond in 2005.

long BUR 446.75 s/l on for a long term hold

DTY jumped at 2:30 with loads of buys since. Wassat all about?

Back from my week's sojourn in the sunny south and just trying to catch up with the news.

Hope you all had a great Christmas!

See you early in the morning.....

G.