UK PreMarket Futures

FTSE +6

DAX +15

DOW +4

S&P +0.7

Nasdaq +2

1 Day 2 Day  5 Day UK News			Gold/Bond Pivots Markets  Futures
	1 Day 2 Day 5 Day  US News	S&P Futures
	Nikkei -3  Hang Seng +249 Asia News	DAX CAC  Euro News
FTSE & DOW charts have 1,2 or 5 day views  -  News links for UK, US & Far East markets. - The Dax/CAC and Nikkei/Hang Seng are now switchable

News:	Sorry Your browser is not java capable
U.S. stocks came of the highs, but still in positive territory at the close. Aviva said on Friday it expects its 2003 operating profit to exceed market expectations, following a strong second-half performance across its life and general insurance operations. They said profit, was expected to be around 1.9 billion pounds against 1.7 billion in 2002, and ahead of a market consensus EasyJet reported a 12.3 percent rise in January passenger traffic and said its prudent growth strategy meant it did not have to change its "cautiously optimistic" outlook. Moss Bros said its Chief Executive, Adrian Wright, has stepped down "to pursue other interests". The announcement came with a trading statement that said like-for-like sales in the year to January were flat, with gross margins up seven percent. British Airways, Eddington to cuts jobs and fares to fill planes

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
HMV (I), Alumasc Group (I), Rolls-Royce (F) Barclays (F), London Bridge Software (F) (09:30) UK Q4 housebuilding data	1

Croc@SnappyTrader.com  WWW.SnappyTrader.com

Bloomberg TV

Futures

Pivot Calc

HTML Editor

Morning all, running late, so not stopping long,

Thats a long word Kayak (had to look it up!) Just doing my bit - but they are so short of donors (and what I like about being a donor, unlike other donors is you have to be alive to do it :-))

Morning all,

Won't be doing much this morning.

US employment data will be the catalyst that snaps this
tight range.

Markets are wound like a spring. When they go I feel that
it will be rapid and violent.

Not a time to be over-margined. imho.

Might have a play with that Capital Spreads simulator that
I downloaded. Still trying to decide which Spread-Betting firm
to open an account with as a back-up for my CMC CFD account.

little woman, you have my respect. We've been involved in what
you are doing and the world needs more people like you.
You are helping to save lives and giving people hope where they
previously had none.

Melnibone.

mornin all, hope all goes well little woman must be great to help give someone else a life. Doug xx

All done.

Did you know that if you're under 40 you can join the register! (You stay on until 60) I've been on it for years, and this is the first time they have asked for another test. (Even now theres no guarentee that I could be a match).

They prefer men as donors (which they are very short of) because you have more body mass, so can give a bigger donation, and recover better & quicker than women! (And if you become a donor, they don't take it from your spine, as someone told me) Just go to http://www.anthonynolan.org.uk/clinics/index.html to find out more

Subject: Stocks
Date: Fri 6th Feb 2004 10:25:50
Country: United Kingdom
Industry:


AFX at a glance - Today's UK, European broker recommendations


LONDON (AFX) - UK and European brokers recommendations issued today, as collated by AFX News from a range of market sources:


DEUTSCHE BANK
Downgrade Hold from buy Sagem, target 86 eur, cuts estimates -- Initiate Hold Aixtron, target 6.20 eur -- Reiterate Hold Ericsson, 15.5 eur target under review -- Buy Unibail, ups target to 87 eur from 81 -- Buy Amer, ups target to 43 eur from 38, raises estimates -- Sell Schering, cuts target to 36 eur from 38 -- Hold Jenoptik, ups target to 9.8 eur from 8.7 -- Buy Wartsila, ups target to 20 eur from 18 -- Hold GlaxoSmithKline, cuts target to 13 stg, reduces estimates -- Buy Smith & Nephew, ups target to 560 pence from 510, raises estimates

JP MORGAN
Upgrade neutral from underweight Shell

DRESDNER KLEINWORT
Downgrade Hold from buy Invensys

CITIGROUP SMITH BARNEY
Initiate Buy Vedanta, target 400 pence -- Tobacco review: Upgrade Buy from neutral BAT; Upgrade Neutral from sell Gallaher; Reiterate Buy Altadis, ups target to 29 eur from 24.50; Buy Imperial Tobacco, ups target to 1,230 pence from 1,185 -- Reiterate Neutral Danske Bank, ups target to 140 dkr from 135 -- Buy Deutsche Borse, ups target to 56 eur from 49 -- Sell Epcos, ups target to 18 eur from 14 -- Sell Group 4 Falck, ups target to 135 dkr from 120 -- Buy Pernod Ricard, ups target to 102 eur from 91 -- Buy SR Teleperformance, ups target to 21.20 eur from 18.60

ABN AMRO
Reiterate Reduce Royal Dutch/Shell, cuts targets to 345 pence/33.6 eur from 360 pence/36 eur

MORGAN STANLEY
Reiterate Equal-weight Royal Dutch/Shell, cuts targets to 360 pence/36.0 eur from 375 pence/37.5 -- Swiss Insurance review; Reiterate Overweight Converium, ups target to 80 sfr from 78; Overweight Swiss Re, ups target to 110 sfr from 108

UBS
Upgrade Buy fom neutral Dassault Systems, ups target to 40 eur from 34 -- Downgrade Neutral from buy Colonial -- Reiterate Buy Deutsche Bank, ups target to 77 eur from 75 -- Reduce Invensys, ups target to 21 pence from 15 -- Neutral Recordati, cuts target to 15 eur from 17 -- Buy Tietoenator, ups target to 30 eur from 28.5 -- Neutral Deutsche Boerse, ups target to 53.25 eur from 52 -- Neutral Pernod Ricard, ups target to 88 eur from 81 -- Neutral Metso, ups target to 10.5 eur from 10.0 -- Neutral Smith & Nephew, ups target to 500 pence from 475 -- Neutral Danske Bank, ups target to 150 dkr from 140

MERRILL LYNCH
Reiterate Buy BAA, ups target to 605 pence from 555

GOLDMAN SACHS
Downgrade In-line from outperform ITV, 'time to take profits' -- Upgrade In-line from underperform Vendex-KBB -- Initiate Underperform HHG -- Reinitiate Outperform ATOS Origin

LEHMAN
Reiterate Overweight Schering, cuts target to 44 eur from 46, reduces estimates -- Overweight Vivendi Universal, ups target to 27.1 eur from 26.2 -- Equal-weight Shell, cuts target to 371 pence from 377 -- Equal-weight Novo Nordisk, ups target to 240 dkr from 235

CSFB
Reiterate Outperform Reckitt Benckiser, ups target to 1,540 pence from 1,450 -- Outperform Stora Enso, cuts target to 14.25 eur from 14.9, cuts estimates

PANMURE
Upgrade Hold from sell Cranswick, ups target to 350 pence from 320 -- Downgrade Neutral from buy PHS Group, target 95 pence, valuation call, switch to MITIE (Buy, target 95 pence) -- Upgrade Buy from neutral Northgate, target 650 pence

WILLIAMS DE BROE
Downgrade Hold from buy Aventis

CAI CHEUVREUX
Upgrade Outperform from underperform Clarins -- Upgrade Selected List from outperform Deutsche Bank -- Upgrade Selected List from outperform Deutsche Boerse -- Downgrade Underperform from outperform Micronic -- Downgrade Underperform from outperform Sagem

SG SECURITIES
Downgrade hold from buy BNP Paribas

ARBUTHNOT
Upgrade Buy from add Surfcontrol -- Upgrade Hold from reduce Epic

NOMURA
Downgrade Reduce from buy Gedeon Richter -- Upgrade buy from reduce Egis
jmh/jc

Just received a message from CMC - they are evacuating the building due to a fire alarm - nice to see someone stopped for a second to let us know!

News from the US:

Nonfarm payrolls increased by 112,000 in January, after an upwardly revised increase of 16,000 jobs the previous month, the Labor Department reported.

The data caught the market by surprise, with some saying that Thursday's rise in the dollar had priced in an even higher number than the 160,000 increase forecast by economists surveyed by Dow Jones Newswires and CNBC.

Meanwhile, the unemployment rate fell to 5.6% in January from 5.7% in December.
"People set themselves up for a huge upward surprise, and they just didn't get it," said Lauren Germain, foreign-exchange strategist at Bank of America in New York. "Expectations kept moving up as the moment got closer and closer."

The dollar, which had traded up to two-week highs against the yen around Y106.75 but was stuck in a tight range against the European currencies, tumbled after the release of the data before stabilizing a bit.

The euro surged about a cent to an intraday high around $1.2630, while the pound gained more than half a cent to $1.8416.

Early Friday in New York, the euro was trading around $1.2593, up from $1.2535 late Thursday in New York. It was higher against the yen at Y133.76 from Y132.80.

The dollar was at Y106.18, still above Y105.91 from late Thursday. Against the Swiss franc, it was lower at CHF1.2454 from CHF1.2511, while sterling was up at $1.8400 from $1.8326.

Higher lows a sign?

Hi Testex,

Watching SHEL. Wonder if the 330p you were thinking of
will come to pass?

Hi TP, my swing chart did give a cautious buy signal
as I posted on Wednesday.
Thursday was an inside day so gave no signal.
Still unsure of this, so keeping positions light
until the US makes up its mind which way it will
lead the World's markets.

There's no rush to lose money on a bad call.

Melnibone

Thanks for the info Testex, but I don't trade small stocks.

I like to play the liquid Ftse 100 stocks and use the index,(UKX),
as a straight short or a hedge.
Been quietly successful at this for just over a year now.

Been watching the US markets and the DAX to get a feel for
how they trade, and may branch out to try trading these in the
evening.

All things in good time though. There's no rush to make mistakes
and feed the market.

Melnibone.

what a great end to the week:) futs still toying with 80 for longer term direction! 05 ish cash

Does anyone know why AVZ not moving today?

Melnibone, Finspreads are worth checking out. Their service level is very good and the trading platform is fine.

I am also looking at trading the Dax.

FTSE at 4.30 closed at 4402 up 17.6 points..

Post auction, the FTSE closed at 4402.7 Up 18.3.... no clues there then!

Thanks for that snoball,

I'll check them out.

I've been trying out the Capital Spreads simulator, the interface
seems easy, but the charts and market quotes don't tie in with
what's really happening. They're different to the real market
prices and action, so it's like trying to play a computer game
rather than trade. Nothing is real.

Melnibone.

Thanks DK2 - for posting the closing prices over here.