LONDON (AFX) - Leading shares are expected to start the session a touch higher, despite overnight falls on Wall Street, with minutes from the latest meeting of the Monetary Policy Committee set to grab investors' attention, dealers said.

According to spreadbetting firm IG Index, the FTSE 100 is set to open 3 points higher at around 5,551, having closed yesterday at 5,547.9, a four year high.



MARKETS

FTSE 100 5,547.9, up 8.1

FTSE 250 8,596.1, up 1.8

DJIA 10,805.50, down 31.00

Nasdaq Comp 2,222.42, down 0.32

S&P 500 1,259.60, down 0.30

Tokyo: Nikkei closed at 15,957.57, up 316.31

Hang Seng midday 15,245.63, up 76.46

Gold 502.30 usd (507.10 usd)

Oil - Brent Jan 56.17 usd (56.11 usd)



TODAY'S PRESS

* EU targets cartels in antitrust overhaul; plans include private claims and 'double damages' - FT

* Union fury as RENTOKIL INITIAL directors escape pension hit - Times

* A fleet of new ships built for BG and other companies to meet Britain's growing energy needs by bringing in liquefied natural gas from abroad hit by leaks and safety scares - Guardian

* UNWINS backer to sue ex-owners; private equity firm behind off-licence chain threatens action against previous shareholders; company closes with debts of 30 mln stg - FT



PRESS COMMENT

FT

THE LEX COLUMN comments on Morgan Stanley (fourth quarter provides evidence of the cyclical upswing in investment banking, but not of Morgan Stanley's transformation), South America (investors should not underestimate the region's capacity for serial disappointment), Japanese consumption tax (Mr Koizumi needs continued cheap money and crowded shops to justify his forbearance), Gaz de France (tariff freeze will knock 250 mln eur from first-quarter profits), HANSON (Lafarge might not have the same appetite for unquantifiable liabilities (as Koch); but, in the current market climate and in an industry that is slowly consolidating, that is unlikely to deter speculation)

Express

SHARE WHISPER: LOOKERS (speculation it could offer above 850 pence a share (for REG VARDY), compared with PENDRAGON's 800 pence bid)

Mail

TADPOLE TECHNOLOGY (small army of miffed shareholders plan to vote US directors Steig Westerberg and John P Dilts off the board because they want to dethrone chairman David Lee and put their own associates on the board)

Times

Directors' dealings: TANZANITE ONE (non-executive chairman sells stock for 705,000 stg) - Rumour of the day: NUMIS CORPORATION (talk of merger with PANMURE GORDON) - TEMPUS: FORTH PORTS (should be held for long-term returns), HANSON (avoid), MISYS (hold on)

Independent

THE INVESTMENT COLUMN: CAPITA (worth having for the long term), HANSON (sell), FORTH PORTS (hold)

Guardian

NEWPORT NETWORKS GROUP (talk it is set to return to the market for more cash)

Telegraph

QUESTOR: HANSON (only worth buying if you're in for the long haul), FORTH PORTS (worth holding), BBA (buy)

Good morning all.

Morning All,

Any news on SOM anyone?

morning campers

Stan - Nothing beyond yesterday's news of them buying some stores from Morrisons.

Good Morning all

Thanks GS,

Completely forgotten that takeover Is all but complete. Just an outfit I was once Interested In.

Midday Market Summary

Good afternoon all

End-of-day Market Summary