LONDON (AFX) - The FTSE 100 is set for an uninspiring start to the session as caution looks likely to prevail amid rising crude prices, a weak performance on Wall Street and nerves ahead of the Federal Reserve decision on US interest rates, dealers said.
CMC Markets is indicating the FTSE 100 to open up just 1 point, having closed at fresh four-year highs last night at 5,429.7, up 21.8 points.

MARKETS
FTSE 100 5,429.7, up 21.8
FTSE 250 7,930.2, up 28.6
DJIA 10,557.60, down 84.30
Nasdaq Comp 2,145.26, down 15.09
S&P 500 1,231.00, down 6.90
Tokyo: Nikkei closed at 13,148.57, up 189.99
Hang Seng midday 15,130.92, up 147.72
Gold 468.55 usd (457.75 usd)
Oil - Brent Nov 65.61 usd (61.81 usd)

TODAY'S PRESS
* German deadlock hits euro; election result raises fears of policy vacuum; leaders in battle to form workable coalitions; Schroeder rules out joining Merkel cabinet - FT
* Oil prices rise over warnings of fresh hurricane - FT
* New buyers are moving back into the housing market as the number of properties coming up for sale has stopped growing, estate agents say - FT
* Unions are considering calling off a three-day strike of distribution workers at WILLIAM MORRISON after the supermarket chain agreed to introduce national wage bargaining - FT
* EXEL admits customer concern over takeover - FT
* Thyssen and EADS link up to bid for BAE SYSTEMS' naval unit - FT

PRESS COMMENT
FT
THE LEX COLUMN comments on Deutsche Post's bid for EXEL (Exel shareholders should be content to accept this offer, while Deutsche Post's investors must lie back and think of the strategic logic of logistics), VODAFONE (Vodafone's strategy and balance between the two poles of growth stock and utility; until the company itself feels more comfortable with its next product cycle, it seems likely its rating will hover there, too), Germany (a global slowdown is more of a risk for German equities than a lack of clear government), LOGICACMG/Unilog (this time, there is a better chance that the sums will eventually add up; but it remains an expensive, and risky, way of fixing Logica's strategic dilemma) - BURREN ENERGY (could still be upside in the shares as they are trading on a relatively low forward p/e of nine times)
Guardian
VODAFONE (disappointing all-day analyst presentation)
Mail
CREST NICHOLSON (rumours now suggest Gerald Ronson has received an early tentative approach for his Crest shareholding and is considering selling at what would be a good price to make a tasty profit on his original investment) - GASOL (rumours suggest it has been holding ongoing discussions with a company with sizeable oil assets in Asia and a reverse takeover could well be on the cards)
Express
BARCLAYS (some market professionals believe a long-mooted approach from Bank of America or Citigroup is still in the offing) - SHARE WHISPER: FORMJET (hopes of a more positive update with interims) - WHO'S DEALING: LAIRD GROUP (finance director exercises option over 172,000 shares at 146 pence before selling 152,000 at 369 pence)
Independent
THE INVESTMENT COLUMN: CARNIVAL (stay on board), BURREN ENERGY (worth having), ALBEMARLE & BOND (hold on to the stock)
Times
DIRECTORS' DEALINGS: OFFICE2OFFICE (six directors sell stock for 6.03 mln stg) - TEMPUS: EXEL (accept the offer and extract maximum cash before deciding to reinvest in the combined entity), COLLINS STEWART TULLETT (hang on in there and consider any further weakness an opportunity to top up holdings), BURREN ENERGY (outlook good enough to encourage further buying)
Telegraph
QUESTOR: RICARDO (buy), BURREN ENERGY (still a good buy for the brave), ALBEMARLE & BOND (worth a look)

Tracking Rita

End of day market wrap

Supermum
LLOY in the blue today. I have rolled over the bet again. Volume is OK. Blue tommorrow would be a reasonable prediction.
F

frodo... The way the dow tanked tonight, and looking at the way the futures are going... I may be wary of LLOY - in fact any longs in the morning... glad you got a few points though ;-)

SM