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News Headlines:    U.S. stock markets finished lower Wednesday as late-day profit taking and concerns over rising interest rates seized investors

UK shares are expected to rise 10 points with telecoms stocks seen firm following upbeat results from Deutsche Telekom and oils also set to benefit from steadier crude prices.

Countrywide Assured Group, owner of Britain's biggest estate agency chain, says first-half profit fell 39 percent on weak demand for houses. Profit for the six months fell to 21.9 million pounds from 35.8 million pounds a year earlier, the company said in a statement. Analysts' consensus forecast for first-half profit was 20 million pounds. The CEO said "For the rest of the year, we expect activity to pick up.

Marks & Spencer says it is no longer in talks to sell its North American supermarket business Kings Super Markets.

P&O Ports and shipping said second-quarter container volumes grew by 22%Vodaphone is close to sealing a $2.18 billion deal on the sale of its Japan Telecom unit's fixed-line business to U.S. investment fund Ripplewood Holdings, the Financial Times said.House Of Fraser Several newspapers reported market speculation of fresh bid approach was imminent for the department store chain.Ryland: The car and truck dealership said after the market close on Wednesday its board and independent directors had agreed to a management buyout worth 45.9 million pounds or 155 pence per share.LGEN Australia's largest bank, National Australia Bank will offer Legal & General products to its 3 million UK banking customers under a life insurance alliance unveiled on Thursday

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Thu 14th	Countrywide Assured (I) PBT 55.1m exp. P&O Q2 Trading Update Pendragon (I), Wireless Group (I) 00.01 Q2 House Building	Dell (Q2). Estee Lauder(Q2) 13.30 July PPI m/m 0.1% exp. 13.30 Initial Jobless Claims (w/e 09/08)394k exp. 13.30 June Trade Balance -$41.5bn exp. 19.00 Minutes of June 25th FOMC Meeting	Allianz (Q2), E.ON AG (Q2) Thyssen Krupp (Q3) 07.00 German Q2 Preliminary GDP q/q 0.1% 11.00 Q2 GDP Estimate q/q flat exp. 11.00 EC 3rd & 4th Quarter GDP Forecasts
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