MARKETS

FTSE 100 4,735.2, up 7.0

FTSE 250 6,793.6, up 35.7

DJIA 10,705.60, up 14.20

Nasdaq Comp 2,146.15, down 16.40

S&P 500 1,203.20, down 2.50

Tokyo: Nikkei closed at 11,078.32, up 153.95

Hang Seng midday 13,997.05, down 27.58

Gold 438.72 usd (440.92 usd)

Oil - Brent Jan 41.45 usd (41.75 usd)



BREAKING NEWS

* Terror ruling poses challenge for government; Law Lords' decision on detention of suspects is first problem for new home secretary - FT

* Baugur today set to make a 326 mln stg formal bid for THE BIG FOOD GROUP - Times

* Three ready to sue as Ofcom plans to relax 3G targets - Times

* Turkey promises EU an end to Cyprus dispute - FT

* CORUS signs 3.5 bln stg deal to lock in steel supplies - FT

* Retail sales bounce back in run-up to Christmas; Britons spent 0.6 pct more on the high street in November than in October, pushing the underlying annual rate of increase to 6.4 pct - Office for National Statistics

* KIDDE agrees to 1.44 bln stg UTC bid

* TRAVIS PERKINS beats rivals to clinch Wickes

* WHITEHEAD MANN shares tumble as takeover talks fail

* JOHN DAVID buys RD Scott for 4 mln stg



PRESS COMMENT

FT

THE LEX COLUMN comments on Russia (at current valuation levels, well-diversified bargain hunters should keep a close eye on Russian stocks), KIDDE (offer looks good), Johnson & Johnson/Guidant, Asian markets - PACE MICRO (seems litle impetus for uplift until the company's record becomes more consistent and the US problem is resolved) - PETREL RESOURCES (fears it has lost out on two contracts in Iraq)

Guardian

GUS (talk of break-up bid) - WILLIAM MORRISONS SUPERMARKETS (suggestions it will struggle to achieve its full-year profits forecasts) - TRAFFICMASTER (talk of a profits warning this morning)

Independent

THE INVESTMENT COLUMN: ALLIANCE UNICHEM (still a buy for the long term), REGENT INNS (buy) - GUS (talk of record 11 bln stg buyout bid)

Express

WHO'S DEALING: JAMES LATHAM (chairman lifts stake to 2.4 pct) - SHARE WHISPER: ASCRIBE (dealers expect a healthy debut on AIM today) - BROKER'S VIEW: BIZSPACE (Teather & Greenwood positive)

Times

RUMOUR OF THE DAY: SIMON GROUP (talk it may following Mersey Docks in attracting a private equity bid approach) - DIRECTORS' DEALINGS: INDIGOVISION (three directors buy stock for 140,000 stg) - TEMPUS: ALLIANCE UNICHEM (buy), CARNIVAL (hold), REGUS (avoid)

Mail

PETREL RESOURCES (Iraq oil contract fears spread) - AEGIS (licensing and distribution agreement with DuPont)

Investors Chronicle

Peter Temple selects five stocks that appear to have that elusive ROE (return on equity) star quality: DETICA (buy), ANDREWS SYKES (buy), BLOOMSBURY PUBLISHING (buy), MCCARTHY & STONE (buy), MEARS GROUP (buy) - TIPS: NORTHERN ROCK (buy); TIPS - LARGE COMPANIES: BALFOUR BEATTY (buy), GREENE KING (sell); TIPS - SMALLER COMPANIES: FIRST QUANTUM MINERALS (buy), P&MM (buy), TORDAY & CARLISLE (buy); TIPS - UPDATES: HHG (fairly priced), TARSUS (buy), PREMIER FOODS (buy), LAWRENCE (buy), DELTRON ELECTRONICS (buy)

nothing on PET - could this have been a bear scam?

Morning all.

Cairn Energy clobbered by 20%! Phew!

covered TSCO +4.5

covered SOF +1 +1.25

covered TATE +4.5

long BUR 423 s/l on

long more BUR 425.75 s/l on

covered final SOF +6

Morning all,

What happened to BDEV yesterday. Logged in last night to find - well you can see for yourself with this 2 day chart!




Something going on?????

covered BUR +2.25 +5

long BOC 946.25 s/l on

long more BOC 946.50 s/l on

lw - same happened to several of the builders. Times reckon it was hedge funds closing shorts prior to holiday period and their year end.

covered half BOC +4.5

covered final half BOC +5.25

Thanks Hotei - how are you by the way?

LW saw an article on text this AM: Macarthy & Stone (excuse spelling if incorrect) saying that deposits on new developments had fallen. Maybe builders in general are feeling a slight contraction in business.

long BOC 945 & 945.25 s/l on