Taylor Woodrow downgraded by CitiGroup

GfK AG said it is acquiring NOP World from United Business Media for about 550m in cash.

LA Fitness considers 220p a share bid

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 4,945.4, down 15.4
FTSE 250 7,163.4, down 80.7
DJIA 10,278.80, down 125.10
Nasdaq Comp 1,946.71, down 27.66
S&P 500 1,162.05, down 11.75
Tokyo: Nikkei closed at 11,370.69, down 192.48
Hang Seng midday 13,618.99, down 153.41
Gold 423.85 usd (428.60 usd)
Oil - Brent May 50.91 usd (50.48 usd)

BREAKING NEWS
* Winemaker Constellation Brands mulling a bid for ALLIED DOMECQ - Mail
* Blair went against advice on Rover loan; PM intervened to insist on 100 mln stg rescue package - FT
* BP head to meet Putin to clarify oil rules; president will be quizzed over ownership rules; Lord Browne likely to raise 1 bln usd tax demand - FT
* Elliott Associates, a US investment group that holds a 6.7 pct stake in WOOLWORTHS, urges the board to put the group up for auction after Apax drops its offer - FT
* LA FITNESS will today announce that it is in exclusive negotiations with Mid-Ocean Partners, a private equity group, in a move that could value the UK's last remaining listed health club at about 150 mln stg - FT
* UNILEVER in court today to sue Albert Heijn, the Dutch supermarket chain, for copying some of its packaging - FT
* EMI acquires Cat Stevens collection
* STANLEY LEISURE tipped to be considering selling its chain of about 600 betting shops so that it can focus on expanding its casinos division - Times
* Malcolm Glazer relaunches his 800 mln stg attempt to buy MANCHESTER UNITED - Independent
* Rover's 400 mln stg accounting puzzle; fresh analysis of company books fails to explain massive discrepancy - Guardian

PRESS COMMENT
FT
THE LEX COLUMN comments on WOOLWORTHS (with the shares at 41-1/2 pence, Woolworths may find it difficult to resist a fresh approach closer to 50 pence), IFRS, Japanese earnings, Apple Computer
Express
SHARE WHISPER: OXFORD BIOMEDICA (traders reckon the company is in the sights of US drugs giant Pfizer in a potential 40 pence-a-share offer) - WHO'S DEALING: SIG (finance director picks up 5,000 shares at 309-1/2 pence)
Times
DIRECTORS' DEALINGS: AMEC (chief executive sells stock for 1.96 mln stg) - BARCLAYS (Bank of America bid speculation) - MONTERRICO METALS (Poland's KGHM declares an interest in buying the AIM-listed miner's Rio Blanco copper project) - TEMPUS: WOOLWORTHS (buy), ROLLS-ROYCE (hold), SSL INTERNATIONAL (pass)
Telegraph
REGUS (rumours of a large share placing) - QUESTOR: CARPHONE WAREHOUSE (still look attractive), AUSTIN REED (avoid), PREZZO (worth a risky punt)
Independent
THE INVESTMENT COLUMN: SSL INTERNATIONAL (sell), HHG (investors already on board should stay put), MORSE ((we are locking in a 5.2 pct loss)
Guardian
DOMESTIC & GENERAL (talk that a consortium, formed by a high-profile City entrepreneur, has secured funding and is preparing a 10.50 stg-a-share cash offer) - MARCHPOLE (talk that Yves Saint Laurent have decided not to renew their contract)
Mail
DOMESTIC & GENERAL (gossip links Tchenguiz brothers to 9 pct Cantor Fitzgerald stake) - DEAL GROUP MEDIA (well on course this year to more than double profits)
Investors Chronicle
TIPS -LARGE COMPANIES: COMPASS (sell), ZETEX (buy), CHESNARA (buy); TIPS - SMALLER COMPANIES: REAL GOOD FOOD (buy), BDI MINING (buy), DELCAM (buy); TIPS - UPDATES: ENTERTAINMENT RIGHTS (buy), CHELFORD (good value), POLARON (sell), WOLVERHAMPTON & DUDLEY BREWERIES (sell)

Good morning all.

Morning all.

THE gold market will be on edge over the weekend as the International Monetary Fund meets in Washington with one of its agenda items what to do with its gold stockpile...

Morning all