MARKETS
FTSE 100 4,630.1, up 46.7
FTSE 250 6,322.5, up 45.5
DJIA 10,002.00, up 113.52
Nasdaq Comp 1,969.99, up 41.20
S&P 500 1,125.40, up 14.30
Tokyo: Nikkei closed at 10,853.12, up 161.17
Hang Seng midday 13,121.59, up 282.88
Gold 425.52 usd (425.72 usd)
Oil - Brent Dec 49.45 usd (51.56 usd)

BREAKING NEWS
* Jonathan Bloomer appears to be losing his battle to remain PRUDENTIAL chief executive amid growing investor anger over last week's surprise 1 bln stg rights issue - FT
* British Bankers' Association reports a 30 pct fall in the number of mortgage approvals in September compared with 12 months earlier
* Falling circulation at its flagship title, the Daily Mirror, continues to be the one black mark against TRINITY MIRROR chief executive Sly Bailey since she was hired to turn the newspaper round 20 months ago - FT
* Private equity group Duke Street Capital flags that it is the mystery stalker of UNIQ after taking its stake in the sandwich and salads group above 3 pct - FT
* Midlands water supplier SOUTH STAFFORDSHIRE recommends a 236.7 mln stg takeover offer from the Bahrain-based First Islamic Investment Bank
* EUROTUNNEL to unveil rescue plan to tackle 6.4 bln stg debt mountain - Independent

PRESS COMMENT
FT
THE LEX COLUMN COMMENTS on ABBEY NATIONAL, Honda, Penicillin/DSM, Marsh & McLennan (it is possible that it will steadily claw back profitability once the snow has settled) - FIRST CHOICE (stock ready to climb higher) - SHIRE PHARMACEUTICALS (little reason to feel bullish about the long-term prospects of the shares until chief executive starts delivering his promised product acquisitions) - MARKET MOVERS: BUSINESS POST GROUP (demerger of DX has investors focusing on BPG)
Independent
THE INVESTMENT COLUMN: FIRST CHOICE (worth holding), ST JAMES'S PLACE CAPITAL buy)
Mail
OMEGA INTERNATIONAL (rating undemanding)
Times
RUMOUR OF THE DAY: REGAL PETROLEUM (talk it will start drilling at its Suceava project in Romania within the next few days) - DIRECTORS' DEALINGS: SOVEREIGN REVERSIONS (two directors buy stock for 116,000 stg) - TEMPUS: SHIRE PHARMACEUTICALS (buy), ST JAMES'S PLACE CAPITAL (only hold), SOUTH STAFFORDSHIRE (take profit)
Express
WHO'S DEALING: KINGFISHER (chairman buys 12,059 shares at 303-1/2 pence) - SHARE WHISPER: CHARACTER GROUP (renewed talk of a possible bid) - BROKER'S VIEW: ISOFT (overweight - Bridgewell Securities)
Telegraph
QUESTOR: FIRST CHOICE (remains a hold), GEEST (don't add to your shopping list just yet), ST JAMES'S PLACE CAPITAL (only the brave should buy)
Guardian
CATALYST MEDIA (talk that a profits warning is likely to accompany news on its proposed deal with Satellite Information Services)
Shares Magazine
Six High Quality Housebuilder Bargains: REDROW, MCCARTHY & STONE, COUNTRY & METROPOLITAN, BARRATT DEVELOPMENTS, BERKELEY GROUP, CREST NICHOLSON - Plays of the Week: BLOCK SHIELD CORPORATION (buy), DANA PETROLEUM (buy), ALBERMARLE & BOND (buy) - Updates hold ASHTEAD and MOTHERCARE

Morning all.

PMA - would you buy a football agency?
http://www.uk-wire.com/cgi-bin/articles/200410280700035518E.html

HLMA - trading statement doesn't have much good news. Shares banging around all-time highs. Hmm.
http://www.uk-wire.com/cgi-bin/articles/200410280700035524E.html

CHLD - can't see much bad news here, but shares haven't performed that well. Due a run?
http://www.uk-wire.com/cgi-bin/articles/200410280700045527E.html

FRM - small sports outfit meets forecasts
http://www.uk-wire.com/cgi-bin/articles/200410280700085559E.html

VAN - contract win, but few details
http://www.uk-wire.com/cgi-bin/articles/200410280700095561E.html

ZOO - new alliance
http://www.uk-wire.com/cgi-bin/articles/200410280700095574E.html

VEG - "strong" trading update
http://www.uk-wire.com/cgi-bin/articles/200410280700105577E.html

RTD - trading "materially in excess of current market expectations". Do they still have that court case hanging over them?
http://www.uk-wire.com/cgi-bin/articles/200410280700105608E.html

CLO - more footie!
http://www.uk-wire.com/cgi-bin/articles/200410280700115609E.html

UAS - nice chart
http://www.uk-wire.com/cgi-bin/articles/200410280700135620E.html

CEN - Result of placing doesn't look too clever to me - must be reading it wrong! ;-)
http://www.uk-wire.com/cgi-bin/articles/200410280700145623E.html

BSLA - decent interims and current trading strong
http://www.uk-wire.com/cgi-bin/articles/200410280700165632E.html

TBI - acquisition/disposal
http://www.uk-wire.com/cgi-bin/articles/200410280700185634E.html
http://www.uk-wire.com/cgi-bin/articles/200410280700185636E.html

SBT - acquisition and placing, results
http://www.uk-wire.com/cgi-bin/articles/200410280700275663E.html
http://www.uk-wire.com/cgi-bin/articles/200410280700295665E.html

IOT - trading update says nothing really
http://www.uk-wire.com/cgi-bin/articles/200410280700325669E.html

SHEL - bucketload of news, but the market may well like the corporate changes?
http://www.uk-wire.com/cgi-bin/articles/20041028073000P0254.html
http://www.uk-wire.com/cgi-bin/articles/20041028072900P0DDD.html

Of the bigger players, ICI seems OK, BOOT plodding on and WTB sneaked ahead of forecasts.

Have a good day!

Morning all.

Input appreciated Digger and Big Al. Hopefully, another reasonable day....

A very quick, Morning all

Good morning all.

GlaxoSmithKline Q3 2004

Sales - 5.02bn vs 5.47bn

Pretax profit - 1.52bn vs 1.66bn

EPS - 18.7p vs 20.2p

Third interim div - 10p vs 9p

Shares 9p down at 1,142p @ 12:11pm

Disappointing - I remember the days when GSK were in the 1700's for quite some time about 5 years ago and I think they did peak at 2200 !!. I think it will be a very long time before thay are back above 2000. Not that I hold any.

What I do regret NOT doing is averaging down on Retail Decisions(RTD) when they were 2/3p and selling within about 12 months when they were 26/27p. Unfortunately still holding at 18.5p (87.6% loss) at the moment.

TOCKWATCH - Australian resource stocks open weaker after China rate hike

SYDNEY (AFX) - Major resources stocks opened weaker amid some concern about the outlook for metals demand out of China after the People's Bank of China lifted interest rates for the first time in nine years, which sparked a commodity sell-off overnight, dealers said.
But they expect the rate hike, which could be the first among a series, will help to ensure a "soft landing" for the booming Chinese economy, helping stem rampant and unsustainable growth rates.
At 10.26 am, BHP Billiton was down 0.57 aud or 4 pct at 13.77, Rio Tinto down 0.96 at 36.64 and takeover target WMC Resources 0.19 lower at 6.78.
Elsewhere, zinc and lead producer Zinifex was down 0.11 at 2.08, Alumina down 0.02 at 5.43 and Macarthur Coal 0.12 lower at 3.80.
The benchmark S&P/ASX 200 index was down 10.4 points at 3,765.7.
Goldman Sachs strategist Malcolm Southwood said that China's rate hike is a short-term negative for sentiment towards the resources sector.
"It again raises doubts as to what the real outcome for demand growth for raw materials in the short term is going to be," Southwood said in a research report.
But he added the rise in Chinese interest rates is a positive and necessary development for the Chinese economy, and has been expected for some time.
"We certainly agree that in the longer term, this move is likely to ensure the 'soft landing' outcome and that more sustainable rates of growth are achieved," he said.

(1 usd 1.34 aud)

Morning all.

Erm!

It's Friday, jj. ;-)

Mid morning all.

Another one who doesnt know what day it is!!!!!

LOL!

Fundamentalist-don't tempt fate!!!