LONDON (AFX) - Leading shares are expected to open higher, helped by a positive performance by Wall Street last night, as the Federal Reserve raised hopes that its cycle of interest-rate increases may be over sooner rather than later, dealers said.
According to spread betting firm IG Index, the FTSE 100 index is expected to open about 12 points higher after closing at 5,507.2 yesterday.

MARKETS
FTSE 100 5,507.2, up 5.7
FTSE 250 8,516.9, up 25.5
DJIA 10,823.70, up 55.90
Nasdaq Comp 2,265.00, up 4.05
S&P 500 1,267.45, up 7.00
Tokyo: Nikkei closed at 15.464.58, down 314.28
Hang Seng midday 14,912.17, down 30.45
Gold 524.70 usd (537.10 usd)
Oil - Brent Jan 59.52 usd (59.44 usd)

TODAY'S PRESS
* MARKS & SPENCER wins EU tax verdict; European Court of Justice attaches significant qualifications; ruling likely to cost tax authorities millions rather than billions - FT
* ROYAL DUTCH SHELL lifts spending to 19 bln usd in hunt for reserves - FT
* China to up GDP estimate by 20 pct - FT
* China National Petroleum and India's Oil and Natural gas Corporation close to clinching a purchase of Syrian assets worth about 1 bln usd - FT
* EUROTUNNEL warns of crisis if talks on 6.3 bln stg debt fail - FT
* HIGHBURY HOUSE director, David Sebire, quits after refinancing talks founder - Times

PRESS COMMENT
FT
THE LEX COLUMN comments on VODAFONE (buying expensive growth is risky, but it is at least preferable to the alternative sector trend of buying expensive ex-growth), European tax (in essence the court has created relief for disastrous, terminated, European adventures), Inditex (cavilling at breakneck sales growth seems mean-spirited), US rates (Alan Greenspan is loosening the straitjacket for his successor), Lehman Brothers (with the shares on about 2.8 times tangible book value, even its relative momentum compared to peers has already been amply rewarded), CADBURY SCHWEPPES (for now, cost-cutting and good organic growth allow the management to focus elsewhere; this time next year, however, when the current phase of the strategy is nearing completion, that could well change)
Times
Directors' dealings: CHRISTIAN SALVESEN (non-executive chairman buys stock for 49,600 stg) - Rumour of the day: TEG ENVIRONMENTAL (talk it has secured planning permission for the installation of its silo cages as part of its 925,000 stg contract with Swansea City Council) - TEMPUS: LANCASHIRE HOLDINGS (avoid), FIRSTGROUP (buy), CARPETRIGHT (buy)
Mail
SPIRENT (rumours of pending corporate activity)
Express
SHARE WHISPER: SPACELABS HEALTHCARE (traders believe more lucrative contracts are on the cards)
Telegraph
QUESTOR: GO-AHEAD (worth holding), ASHTEAD (worth holding), BRITISH ENERGY (there's reason to hold yet)
Independent
THE INVESTMENT COLUMN: CADBURY SCHWEPPES (at best a hold for now), LA TASCA (buy), ASHTEAD (have further to run)
Guardian
RANK GROUP (break-up rumours)

Good Morning all,

Are most people away on holiday?

Morning All.

Probably an early christmas "wine" down LW.

Anyone else looking at PSN as a pos. recovery play out there?

nope watchin an adding,

HYC - Breakout on very heavy volume
REG - Sat right on a 3 year breakout





REG

End-of-day Market Summary