Another for the "UPS"

MCR 4.375P

Reason :Bouncing from support on the chart, large volume large Friday after AGM. production expected to commence within 2 months

Intraday Chart

3 month

5 days

3 month

BREAKOUT

AFR 50p
Large volume with breakout last Friday

Good morning traders!

In Asia today, the Nikkei was up 152.06 points at 9,674.56, while the Hang Seng
ended the morning up 503.6 points at 18,674.6.

Crude oil traded at $66.91 a barrel on Nymex.

Happy June!

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

Saturday

One of the biggest debates concerning the current crisis has focused on whether the world is heading towards a deflationary or inflationary environment. But it appears theres a new big debate emerging: rising yields - proof of an inflationary environment or just normalisation?
The new art of inflation mongering

Sterling reached its highest level against the dollar in more than six months as it took strength from an improved outlook for the global economy.
Sterling hits six-month high against the dollar

Northern Rock was viewed as the most vulnerable bank in the UKs banking system in risk simulations carried out by key players as early as 2004, it emerged last night.
Secret war games identified Northern Rocks weakness

A wave of failures in the commercial property market has been predicted by one of the UK's leading restructuring experts. Richard Fleming, UK head of restructuring at accountant KPMG, said that property failures to date are just the "tip of the iceberg".
Wave of commercial property failures predicted

The Government has been derided after it emerged that its 285m scheme to rescue families from having their homes repossessed has been taken up by just two households since it was set up at the start of the year.
Mortgage rescue plan accepts just two families

"The event risk has risen sharply in the Baltic markets and we advise outmost caution. Yesterday, the Swedish central bank Riksbanken said it will increase its currency reserve by SEK 100 bn through a loan from the Swedish debt agency. Investors seem to believe that this is a buffer to deal with potential problems arising from the Baltic crisis."
Is Eastern Europe on the edge again?

Trade figures showed that Japan's export slump is slowing down and the central bank produced a more upbeat assessment of the world's second biggest economy.
Surge in Japanese production raises recovery hopes

Sunday

The US bond market is trying to tell us something and we should all be listening.
US bond sell-off putting pressure on other parts of the economy

The worst of the recession is over for British manufacturing but the sector's return to growth will be long and difficult, the industry's leading trade body will warn tomorrow.
Long road to recovery, warns EEF

Monday

The US Government was forced to take a large stake in General Motors (GM) to stop the company being broken up, President Obama said as the carmaker prepared to make the world's largest industrial bankruptcy filing today.
GM bond deal paves way for Chapter 11

The European Central Bank is expected to reveal a departure in monetary policy this week and pursue its own version of quantitative easing, the so-called printing money option, to try to fuel a recovery in the ailing eurozone economy.
ECB set to push ahead with version of quantitative easing

The International Monetary Fund has privately pressed the Bank of England to expand its quantitative easing programme and start buying frozen "toxic" debt off private investors.
Bank should buy toxic assets, says IMF

Hopes are increasing that the UK economy could soon be boosted back into growth, with the release of two surveys showing optimism is soaking back into businesses and manufacturers nationwide.
Hopes grow of an economic recovery

The majority of the worlds leading investors do not believe the recent strong performance of stocks and other risky assets is sustainable, according to a report by Barclays Capital released on Monday.
Investors sceptical on stock market rebound

A shortage of new homes for sale has ended house price falls, according to figures published today, adding weight to claims that the market has begun to stabilise.
Demand applies brakes to plummeting house prices

Borrowers with the state-owned Bradford & Bingley (B&B) are defaulting on one in twenty mortgages and the failure rate is set to go even higher.
Bradford & Bingley counts 700m cost as 5% of borrowers default on mortgages

Rising reinsurance rates and falling capacity have left some insurers and US energy producers with more to fear than in past years as the Gulf of Mexico hurricane season begins on Monday.
US energy braced for hurricane pressure

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

China's manufacturing expanded in May, adding to signs the world's third-largest economy might be recovering from its slump, but growth was weak despite huge stimulus spending, according to two surveys released Monday.
Chinese manufacturing expands in May

Shanghai copper limit up as China PMI stays > 50

CWR Goldman: upgraded to buy from neutral
DMGT Citigroup: downgraded to sell from hold, tp reiterated 250
JPR Citigroup: reiterated hold
PSON ING: initiated buy, tp 760
SXS Goldman: upgraded to buy from neutral
TNI Citigroup: reiterated buy
TPT HSBC: downgraded to neutral from overweight, tp raised to 88 from 52

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