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S&P &Futures (Click for latest)

Hang Seng +121

Nikkei +70

News Headlines:    U.S. Hewlett-Packard's worse-than-expected earnings depressed the Dow throughout the session, while the Nasdaq managed to recover from a bout of profit taking in the morning and finish nearly unchanged.

U.K: shares are expected to open supported by positive U.S. futures, while UK retail sales data, due at 0830 GMT, may provide direction to consumer-facing stocks.

Europe: Very strong upgrades to overweight by Lemans for the chip sector.Cattles: consumer-lending and debt-collection, said that first-half profit rose 30 percent to 49.2 million pounds from 37.9 million a year earlier, beating analysts' expectations of 46.2 million pounds.

Alfred McAlpine said on Thursday it had won a highway maintenance contract from Suffolk County Council, worth an initial 85 million pounds Rexam: Amcor the world's largest plastic packaging maker, agreed to spend $331 million to buy the healthcare flexible packaging arm of Rexam BAE Systems: India will decide within two weeks whether to buy the Hawk advanced air force trainer jets, the Financial Times newspaper said today.Severn Trent: Moody's downgraded the long-term and the short-term ratings after the market had closed on Wednesday Vodaphone, MM02: Hutchison Whampoa 0013.HK reports first-half earnings and investors will be watching to see if its new 3G mobile phone services in Europe are showing signs of success.BP, Shell: crude futures extended gains reflecting a fresh decline in U.S. crude stocks.

Hiscox insurer said first-half results would meet market expectations despite raising its reserves to cover the loss from the September 2001 attacks on the U.S. World Trade Centre.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Thu 21st	Cattles (I), Weir Group (I), Keller (I) 09.30 July Retail Sales m/m 0.4% exp. 09.30 Q2 Business Investment q/q 11.00 July CBI Industrial Trends	Electronics Boutique (Q2) 13.30 Initial Jobless Claims (w/e 16/08) 395k exp. 15.00 July Leading Indicators 0.4% exp. 17.00 August Philly Fed 10.0 exp.	07.00 Q2 German Revised GDP q/q
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