Chart for VLR showing the change of direction to UPTREND after completing the CUP & HANDLE

One for the "UPS"

AEX - Mid 17.875p

Reason - Higher oil prices again specialy last week reaching $59 augurs well for this exploration company looking for big oil fiels offshore Africa, on a low market cap 30M. Has been well marked down lately and during las week has bounced as Indicators were at oversold

Chart for AEX

Guide

        JOKE OF THE DAY

You Have A Fatal And Incurable Disease

A guy goes to the doctor and the doctor tells him,
"I have some very bad news for you.
I'm afraid that you're afflicted with a fatal and incurable disease."

So the guy asks, "Well isn't there ANYTHING I can do, doc?"

"Hmmm...
maybe you should go to a spa and start taking daily mud baths,"
he tells his patient.

"Mud baths? Will that help me, doc?"

"Probably not....
but at least you'll get used to being covered in dirt!"

Friday's market reports:

Telegraph
Telegraph (Bloomberg summary)
The Times
The Times (small caps)
FT
The Guardian
The Independent
This is Money

Good morning traders!

In Asia today, the Hang Seng ended the morning up 2.49 points at 20,566.17, while the Nikkei closed 202.31 points lower at 17,344.80.

New York Mercantile Exchange's main oil futures contract, light sweet crude for delivery in March, was up 5 cents at $59.07 a barrel.

Happy trading!

G.

OUTLOOK - UK smaller companies results for the 2 weeks to Feb 16Tokyo shares close lower on profit-takingAustralian shares close lower after metal prices fall last Friday - UPDATEAsian markets summary

BT.A upgraded to buy from hold - target 340 from 245 - Dresdner Kleinwort
RDSA downgraded to hold from buy - Deutsche Bank

Tokyo shares close lower on profit-taking - UPDATE

JMAT upgraded to buy from neutral - target 1800 - UBS

London shares outlook - flat, Sainsbury in focus as consortium mulls bid options

BP upgraded to buy from neutral - target 615 - Goldman Sachs

AFX UK at a glance share guide

UK smallcap opening - Taihua edges up on move into South Korea market

UK smallcap opening - Monterrico Metals higher on agreed by from Zijin

LAD downgraded to underperform from neutral - target 400 - Credit Suisse

UK smallcap opening - FishWorks firms on Luke Johnson bid talk

UK smallcap opening - Energy Asset Management up on Woolworths dealLondon shares open lower, mixed Wall Street and weak miners offset M&A

UK smallcap opening - Independent International climbs on Google dispute update