IMI UPGRADED TO 'OUTPERFORM' VS 'NEUTRAL' AT CSFB

TATE & LYLE UPGRADED TO 'NEUTRAL' VS 'REDUCE' AT UBS

STANLEY LEISURE STARTED AS 'OVERWEIGHT' BY LEHMAN BROTHERS, 600 PENCE TARGET

MARCONI CUT TO 'REDUCE' VS 'BUY' AT UBS

KLEENEZE WARNS FY RESULTS TO BE BELOW EXPECTATIONS

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 4,790.2, up 0.8
FTSE 250 6,738.8, down 89.9
DJIA 10,070.40, down 128.40
Nasdaq Comp 1,904.18, down 26.25
S&P 500 1,143.20, down 13.20
Tokyo: Nikkei closed
Hang Seng miday 13,809.71, down 99.71
Gold 432.05 usd (432.80 usd)
Oil - Brent June 52.48 usd (52.29 usd)

BREAKING NEWS
* Brown comes to Blair's rescue; chancellor seeks to stabilise party over Iraq advice controversy; insists cabinet was not steamrollered into supporting invasion - FY
* Consortium pondering a 7.7 bln stg tilt at ALLIED DOMECQ could be foiled by Allied's multi-million pound pensions black hole and mounting borrowing costs - Mail
* BAT 'backed Aids campaign to shift spotlight from smoking risk' - Independent
* Nationwide says house prices to grow 2 pct in 2005
* Malcolm Glazer set a deadline of May 17 to bid for MANCHESTER UNITED after Takeover Panel tells US tycoon to "put up or shut up"
* Icelandic bank Kaupthing takes another step in its expansion strategy by buying SINGER & FRIEDLANDER for 547 mln stg
* ATTENTIVE SYSTEMS agrees MICROGEN offer
* Rover collapse has cost taxpayers 230 mln stg so far - Telegraph

PRESS COMMENT
FT
THE LEX COLUMN comments on SHELL (will need to run hard just to stand still), Pharmaceuticals, Icelandic acquisitions, DaimlerChrysler (may have shown enough progress to stem the decline in its share price) - PUNCH TAVERNS (investors might have to call time on this stock a little early) - BODY SHOP (the shares, on a forward p/e ratio of slightly more than 11, probably are not up with events) - BLACKS LEISURE (very good value compared with other retailers, even if sales growth is slowing)
Express
AMSTRAD (rumours of sluggish sales) - ABACUS GROUP (talk of poor trading over the past few months) - SHARE WHISPER: ZAREBA (talk of South African deal) - WHO'S DEALING: CUSTOMVIS (director buys 20,000 shares at 9.2 pence)
Independent
THE INVESTMENT COLUMN: AVIVA (buy), ANTOFAGASTA (to be replaced in the Independent's portfolio of tips for 2005), ASTRAZENECA (worth holding)
Guardian
LONDON STOCK EXCHANGE (could lose out on two of the biggest retail flotations of the year - RUBICON RETAIL and the MOSAIC GROUP)
Times
TATE & LYLE, ASSOCIATED BRITISH FOODS (hit by WTO's ruling on sugar) - HOMESTYLE (rights issue fears) - TEMPUS: SHELL (hold), ASTRAZENECA (buy), JOHN LAING (hold)
Telegraph
QUESTOR: ASTRAZENECA/GLAXOSMITHKLINE (if you hold them, they are worth keeping - as long as you can deal with possible adverse reactions), BODY SHOP (best left alone at the moment)
Mail
DELTA (opportunistic private equity buyers hovering above Delta)

INVESTORS CHRONICLE

Tips:
* Buy Man Group at 12.95 - PHS Group at 88p - Roc Oil at 74p - RWS at 179p - Clarity Commerce Solutions at 67p
* Sell P&O at 281p

Updates:
* Buy ILX - Aquarius Platinum good value - Hold Crest Nicholson

Company Results:
* Buy Whitbread and Alizyme - Sell Ferraris.

Morning all,looks a good one.

Morning all. Still pondering as to what figure to place in the FTSE competition for May.

Morning all

D - Being a bit optomistic (;-)) I repeated my Apr entry!

Morning All,

BFC situation looks Interesting.