Investors Chronicle

Tips:
* Buy William Morrison at 183p - Diploma at 691p - Metal Bulletin at 232p - Belgravium Technologies at 18p - Delcam at 172p
* Sell Bema Gold at 317p
Updates:
* Buy Slough Estates, Hardide, Hotel Corporation, Inion
* First Technology fairly priced

Company Results:
* Buy Intel Telecom Systems - Center Parcs - Accident Exchange - David S Smith - Gooch & Housego - Ten Alps - Windsor - Vega Group
* Sell First Choice Holidays.

LONDON (AFX) - Leading shares look set for a flat start this morning, after modest weakness overnight on Wall Street, ahead of the latest options expiries today, with another batch of trading updates to provide the main direction, dealers said.
Spread bettors IG index expect the FTSE 100 index to open around 3 points firmer at around 5,498.

MARKETS
FTSE 100 5,495.3 down 25.8 points
FTSE 250 8,517.2 up 23.9
DJIA 10,881.67 down 1.84
Nasdaq Comp 2,260.63 down 1.96
S&P 500 1,270.94 down 1.8
Tokyo: Nikkei 15,173.07 down 81.37
Hang Seng midday 15,000.68 down 58.34
Gold 508 usd (511.5 usd)
Oil - Brent Jan 59.85 usd (59.6 usd)

TODAY'S PRESS
* Conrad Black charged with racketeering and obstruction of justice as US prosecutors expand their pursuit of the former head of the Hollinger media empire - FT
* The Reuben brothers, are poised to buy Multiplex's stake in Global Switch in a deal that values the internet hotel business at about 400 mln stg - The Times

PRESS COMMENT
FT
THE LEX COLUMN comments on DRAX (shareholders must be tempted to flip the switch), LSE/MACQUARIE BANK (level of bid is surely inadequate), INVESTMENT BANKS (for their investors at least, things are unlikely to get much better), PHILIPS (premature for investors to talk of a reduced conglomerate discount on a change of legal status alone)
Times
Directors' dealing: MEARS (Chairman Bob Holt sells 2.7 million shares at 300 pence for 8.1 mln stg) - Rumour of the day: VICTORIA OIL & GAS (Brewin Dolphin and Ambrian Partners are closing the books on a 12 mln stg placing at the 75p level)
Independent
THE INVESTMENT COLUMN: DE VERE (hold), DATAMONITOR (buy), COUNTRYWIDE (avoid)
Mail
LOCAL RADIO (considering raising cash via heavily discounted rights issue)
Express
SHARE WHISPER: UKBETTING (seen as potential target for media group or larger gaming company)

Investors Chronicle
LARGE COMPANY TIPS: WILLIAM MORRISON SUPERMARKETS (buy), DIPLOMA (buy), METAL BULLETIN (buy) -- SMALLER COMPANIES: BELGRAVIUM TECHNOLOGIES (buy), BEMA GOLD (sell), DELCAM (buy)

Morning All,

morning campers,keep a eye on the markets at 10.10 today could be volatility due to options expiring (witching) you have been warned !!!!

Mega...

Good morning all.

Midday Market Summary