Good morning traders!

The Dow finally closed 127.69 points ahead last night at 10,384.64 with the Nasdaq 29.16 better at 1,962.23 and the S&P500 14.48 points to the good at 1,175.65.

In Asia this morning, the Hang Seng is trading triple-digit gains. Tokyo is closed for the week.

Oil edged higher overnight after recent falls on US inventory gains.

Back with some UK news a.s.a.p..

Happy trading!

G.

SABMILLER UPGRADED TO 'OVERWEIGHT' FROM 'EQUAL-WEIGHT' BY MORGAN STANLEY

BRITANNIC UPGRADED TO 'NEUTRAL' VS 'REDUCE' AT UBS

GEORGE WIMPEY CUT TO 'NEUTRAL' VS 'BUY' AT UBS

LONDON (AFX) - Leading shares are expected to open higher today, lifted by another firm showing by Wall Street last night, although sentiment will be dominated by election news filtering in from around the country, with polls set to open early this morning, dealers said.
With spread-betting firms predicting a Labour majority of 95, anything other than a convincing win for Prime Minister Tony Blair today could dent confidence in the UK market and put pressure on the pound, according to market watchers.
According to IG Index, the FTSE 100 is expected to open around 10 points higher, after closing at 4,882.5 yesterday.
On Wall Street last night, US stocks managed to log their fourth straight day of gains, with a surge in General Motors driving blue chips to three-week highs after Tracinda announced plans to boost its stake in the world's largest automaker, restoring investors' confidence in the corporate health of the US.
The DJIA closed up 127.69 points at 10,384.64, while the Nasdaq Composite Index jumped 29.16 points to 1,962.23.
Across Asia overnight, the Hang Seng stood 122.79 points higher at 14,067.84 by midday, while the Japanese market is closed for a public holiday.
In London today, away from the political arena, the UK results season rumbles on with first quarter earnings due from blue-chips ICI and Smith & Nephew.
ICI is expected to report a 29 pct rise in first quarter earnings, helped by improving trading conditions at its key US and Asian markets.
Analysts are expecting pretax profit of 81 mln stg in the three months to March, up from a restated figure of 63 mln stg a year earlier under the International Financial Reporting Standards.
However, margins are expected to continue to be squeezed by the rising cost of raw materials, fuelled by soaring oil prices.
Smith & Nephew meanwhile is expected to post first quarter sales of around 330 mln stg, up from 302 mln in the same period last year, with growth expected to come from strong hip and knee sales.
Elsewhere April traffic figures from British Airways should provide some interest.
A trading statement from jewellery group Signet will also be noted

WM MORRISON AWARDS FRESH MILK SUPPLY BUSINESS TO DAIRY CREST (This pushes out Robert Wiseman)

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 4,882.5, up 21.3
FTSE 250 6,744.0, down 42.9
DJIA 10,384.60, up 127.70
Nasdaq Comp 1,962.23, up 29.16
S&P 500 1,175.65, up 14.50
Tokyo: Nikkei closed
Hang Seng midday 14,067.84, up 122.79
Gold 428.32 usd (427.90 usd)
Oil - Brent June 50.97 usd (50.52 usd)

BREAKING NEWS
* Labour hopes high as fight ends; four polls give Blair lead; party figures predict majority of 60-120; Howard hopes to gain more than 50 seats; Kennedy confident of good result - FT
* BAE SYSTEMS close to deal with unions to cut pension scheme liabilities by 1.7 bln stg - FT
* Lord Hollick, outgoing chief executive of UNITED BUSINESS MEDIA, facing an embarrassing shareholder revolt at the company's AGM next week over plans to award him a special 250,000 stg bonus - FT
* Heron Corporation drops its approach for CREST NICHOLSON

PRESS COMMENT
FT
THE LEX COLUMN comments on BRITISH SKY BROADCASTING (rising subscriber acquisition costs, stagnant ARPU and higher churn raise longer term questions about the sustainability of Sky's progress), Credit Suisse (still has appeal), Total (room for a further re-rating), General Motors - ANGLO IRISH BANK (no longer a bargain)
Independent
THE INVESTMENT COLUMN: DE VERE GROUP (check in elsewhere), NUMIS buy)
Guardian
DAT GROUP (Tabella service launch tomorrow) - EMBLAZE (rumours it has won another substantial order for its white label mobile telephones)
Telegraph
QUESTOR: BSKYB (buy), MATALAN (unless you really believe the rumours that someone will bid for Mr Hargreaves's 52 pct shareholding, and with the shares at this level he is unlikely to be tempted by an offer from a venture capitalist, then leave this one on the shelf), DE VERE GROUP (long-term investors should hold on)
Times
DIRECTORS' DEALINGS: CORPORATE SYNERGY GROUP (director buys stock for 20,750 stg) - TEMPUS: MATALAN (hold), LONMIN (hang on), DE VERE GROUP (worth holding on to)
Mail
SOMERFIELD (Tchenguiz consortium, which is bidding for Somerfield, fuels rumours that it will be selling a chunk of stores to Asda)
Express
SHARE WHISPER: GW PHARMACEUTICALS (speculation that its cannabis-based oral spray Sativex for pain and multiple sclerosis could be considered for UK approval as early as next week) - WHO'S DEALING: CAVANAGH GROUP (finance director takes maiden stake, picking up 10,000 shares at 70-1/2 pence)

Morning all. Another up day ??

Afternoon All - Happy voting today!