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News Headlines:    In the U.S. investors set aside the morning's weak economic news with a late buying spree of technology and financial stocks. UK markets are expected to open much higher after the rebound in the U.S. but watch Burberry as a possible faller after luxury goods maker after Gucci produced a shock 97% fall in profits.

BP: Trading Statement later on today,

Bovis:said that home completions were less than less year and blame the war in Iraq but anticipate an increase in profits for the half year in line with expectations.

Wilson Connolly: housebuilder says it expects a significant improvement in 2003 results, following a strong performance in the first half of its financial year

Somerfield: Somerfield, which rebuffed a takeover approach last month, has admitted its recovery is not quick enough after reporting annual profits in line with expectations. They promised to pick up the pace of its renewal plan as it delivered a 24 percent rise in profits in annual to 25.8 million pounds for the year. It also revalued its property assets to help explain why it snubbed the bid approach.

Computacenter, says it expects to report a result for the six months to end-June ahead of market expectations, despite difficult market conditions.

Northgate:van hire has posted a 15.5 percent rise in annual pre-tax profits, as more small businesses opt to hire commercial vehicles instead of owning them

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Wed 2nd July	International Greetings (F), Northgate (F), Somerfield (F)Bovis Homes Trading Statement BP Q2 Trading Statement N Brown AGM & Trading Statement Wilson Connolly Trading Statement09.30 May CIPS Construction PMI 11.00 June CBI Distributive Trades 13.0 exp.	Biomet, Inc. BMET 0.30 Before Market Open Gucci Group NV GUC 0.35 Time Not Supplied Nu Horizons Electronic NUHC -0.09 Before Market Open PriceSmart, Inc. PSMT N/A Time Not Supplied Stolt Offshore SOSA -0.29 Time Not Supplied 15.00 May Factory Orders 0.3% exp.	. 08.55 EMU May German Services PMI 45.0 exp. 09.00 EMU May Euro Zone Services PMI 48.4 exp. 11.00 EMU May PPI m/m 0.3% exp
	AEA Technology (3.7), Aveva Group (3.8), BOC Group (23.5), Belhaven Group (6.6), Caledonia Investments (18), Carlton Communications (2), Carphone Warehouse (1), Chloride Group (0.8), Dyson Group (3.1), Emap (14.6), Expro International (7.1), GraingerTrust (3.51), Hardys & Hanson (6.6), Majestic Wine (8), Merchant Retail (2), Paragon Group (2.6), Wolseley (5.6), Workspace Group (20.6), iSOFT Group (1.2)
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