MARKET EXPECTATIONS

Barclays six months to June pretax profit under IFRS 2.45b vs 2.46bn; interim dividend 8.75p, up 6%.

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 5,315.5, down 0.32
FTSE 250 7,685.6, up 10.2
DJIA 10610.1, down 87.5
Nasdaq Comp 2191.32, down 25.49
S&P 500 1235.85, down 9.2
Tokyo: Nikkei 225 closed at 11,766.48, down 116.83
Hang Seng at midday 14,988.38, down 123.16
Gold 439.4 usd (436.1)
Oil - Brent Sept 60.12 usd (59.65)

BREAKING NEWS
* Axel Springer to announce deal to secure control of ProSiebenSat1 - FT
* Lord Kalms of Edgware seeking place on board of NMT - Daily Telegraph
* KPMG unlikely to face carges it sold illegal tax shelters - Daily Telegraph
* Chinese airlines are rushing to recruit qualified European pilots - Times
* NYSE is examining allegations of trading abuse in Wall Street firms - Times

PRESS COMMENT
FT
THE LEX COLUMN - The ECB has shown an admirable reluctance to cheer its consumers up by cutting interest rates. It is a trait the BoE would do well to emulate; ROYAL BANK OF SCOTLAND on just over 9 times prospective earnings, the shares trade at a discount to the sector and this is likely to remain the case; ROYAL DUTCH SHELL Even Mr Ollila, however, may find it difficult to guide Shell on the hard choices between high-priced acquisitions and a more aggressive return of cash to investors; ANGLO AMERICAN Given the conspicuous lack of a buyback programme at present, shareholders could benefit on several fronts.

Times
TEMPUS: UNILEVER (Hold) (For those prepared to be patient, it is worth holding on); ICI (Hold) More needs to be done to complete the recovery, but ICI is on track); MILLENNIUM & COPTHORNE (The impact of the London bombings on bookings is still unclear, but the longer-term strategy makes the shares worth holding)

Telegraph
QUESTOR: SMITH & NEPHEW (FDA approvals on some new products might boost the shares somewhat, but they are only a hold); MILLENNIUM & COPTHORNE (Solid given the asset backing, but pricey for now); GKN (It's worth holding on)

Independent
THE INVESTMENT COLUMN: ICI (For those already on board, hold); ANGLO AMERICAN (With the China boom set to keep commodities prices high, Anglo American shares at 1,470 pence, are worth having for the long term); SMITH & NEPHEW (This is not the time for investors to go weak at the knees. Buy.)

Mail
Market Report: Speculation Terry Smith could break up COLLINS STEWART TULLETT

Investors Chronicle
ROYAL DUTCH SHELL (Sell); PENNON (Buy); VIRGIN MOBILE (Buy); HAMWORTHY (Buy); UNITED CLEARING (Buy); PETRA DIAMONDS (Buy)

good morning all

Thanks chaps and morning to all!
Little woman did you get your computer problem sorted?

Sort off stockbunny

- Server is not happy. Like a lot of companies who previously has gone
through bad times, we don't have a proper service agreement with a outsourced
IT dept. They get paid as and when we call them. We are set up "with a complete
business solution" but without the backup to go with it.

So when we try to do anything (e.g. add a printer or PC) we suffer a couple of days
later....

Looks like we need to change the way we do things....

Maybe Little Woman, certainly don't need problems each time you
add a new 'bit'!

Have a great weekend everybody.

Mr & Mrs Greystone are off on a long-awaited vacation for a few days to experience the more ambient weather in the UK. (And watch the cricket) :-)

I'm sure the Traders Threads will be in good hands while I'm away.

G.