Good morning traders!

In Asia this morning, the Hang Seng ended the morning down 14.58 points at 15,213.25 whilst the Nikkei was recently up 12.91 points at 12,647.79.

Oil prices fell below $67 a barrel in Asian trading hours. New York's main contract, light sweet crude for delivery in October, was down $1.10 at $66.47 from its close of $67.57 in the US om Friday.

Early broker notes :-

GUS INITIATED 'OVERWEIGHT' AT MORGAN STANLEY; PRICE TARGET 1,030P

AMLIN UPGRADED TO 'BUY' VS 'ADD' AT ABN AMRO

FKI UPGRADED TO 'BUY' FROM 'REDUCE' AT ABN AMRO

NEXT INITIATED 'UNDERWEIGHT' AT JP MORGAN; PRICE TARGET 1,400P

RHM INITIATED 'NEUTRAL' AT CSFB; PRICE TARGET 320P

BUNZL DOWNGRADED TO 'NEUTRAL' FROM 'OUTPERFORM' BY CSFB

Thomson Intermedia downgraded to 'in-line' vs 'outperform' at Goldman

Reed Elsevier upgraded to 'add' at ABN Amro on valuation

ANTOFAGASTA DOWNGRADED TO 'NEUTRAL' FROM 'BUY' AT UBS

Looks like a busier day ahead....

Happy trading!

G.

LONDON (AFX) - Leading shares are expected to start a busy session a touch higher as crude eased below 67 usd a barrel overnight but gains are likely to be capped as investors await Wall Street's restart for further impetus, dealers said.
According to spread-betting firm CMC, the FTSE 100 is seen starting 2 points firmer at around 5,3450, after closing yesterday 11 points firmer at 5,337.8.

MARKETS
FTSE 100 5,337.8, up 11.0
FTSE 250 7,788.1, down 4.2
DJIA 10,447.40, down 12.20
Nasdaq Comp 2,141.07, down 6.83
S&P 500 1,218.00, down 3.60
Tokyo: Nikkei closed at 12,599.43, down 35.45
Hang Seng midday 15,213.25, down 14.58
Gold 445.35 usd (444.05 usd)
Oil - Brent Oct 64.85 usd (66.06 usd)


TODAY'S PRESS
* China-EU near textile deal; half of the 77 mln garments to be waived through; member states yet to sign up to agreement - FT
* EXEL agrees to open its books to Deutsche Post to allow the German postal group to conduct limited due diligence ahead of a potential 3.8 bln stg bid for its UK rival - FT
* Euronext lays ground for offer; Paris exchange moves to ease concerns over potential LONDON STOCK EXCHANGE bid; rival Deutsche Boerse disagrees with UK competition body's findings - FT

PRESS COMMENT
FT
THE LEX COLUMN comments on Hurricane Katrina (consumers can probably muddle through - as long as they believe this supply shock is a short one; in that case, the US economy should not need extended monetary cushioning), European stocks (with liquidity still strong and yields low, the reinvestment quandary favours the high-fliers), Chinese textiles (it is sometimes said that a good bra is more supportive than most boyfriends; sadly, the same remains true for the commitments of EU trade officials to prop up free trade), Currencies (commodity currencies should continue to benefit from renewed US dollar weakness, but their strength is a mature trend; favouring the Canadian over the Australian dollar may be a safer bet) - IMI (may look attractive to potential bidders, especially private equity) - TAYLOR NELSON SOFRES (look modestly rated) - INTERTEK (yesterday's wobble provides a good opportunity to buy into a growth stock) - LOOKERS (looks a little cheap given the growth potential)
Times
RUMOUR OF THE DAY: Ongame and Trafalgar Betting & Gaming both being groomed for London listings) - DIRECTORS' DEALINGS: GREENE KING (finance director exercises 40,000 options at 263-1/2 pence and sells them for 677 pence) - TEMPUS: TRAVIS PERKINS (avoid until the situation is clearer), DS SMITH (sell), HOLIDAYBREAK (hold)
Mail
HENDERSON GROUP (did UBS snap up Henderson stake for mystery predator)
Express
SHARE WHISPER: INSPICIO (stand by for news shortly on a possible acquisition) - WHO'S DEALING: FIREONE GROUP (boardroom selling)
Guardian
SKYEPHARMA (in talks with another big drug company, which may lead to a more wide-reaching agreement for Flutiform)
Telegraph
QUESTOR: WILLIAM HILL (still worth holding), INTERTEK (no more than a hold), LOOKERS (buy)
Independent
THE INVESTMENT COLUMN: TAYLOR NELSON SOFRES (a buy), ROBERT WALTERS (buy), TRAVIS PERKINS (avoid)

Morning all.

Morning all.

Morning All,

Another good day for those utilities so far I see.

Morning and thanks for the updates and news :>)

End of day market wrap