MYH 14.50 / 15p

The spread is very narrow and the offer has not change yet, same as last week.
There is a good chance that the low has been reached last Friday.
Though there is a seller around the buying today is pretty good and the Level 2 is showing that too.

Bid side 3 Market Makers
Offer 1 Market Maker

online
price bid 14.56p
offer price 14.88p

The buying is mainly on the "plus market" ........... plusmarket

Market update

London shares stay higher midmorning; oils strong; Kingfisher top FTSE 100 riser

LONDON (Thomson Financial) - Leading shares stayed higher in midmorning deals, bolstered by strength from oils, with Kingfisher the top FTSE 100 riser on the back of bid rumours.

At 10:23 a.m. the FTSE 100 was up 40.7 points at 6,245.4, with the FTSE 250 index 92.5 points firmer at 10,529.8.

On the macro front, the UK's trade in goods balance with the rest of the world improved a touch in March, official figures showed today.

The Office for National Statistics said the UK's trade in goods balance with the rest of the world was in deficit of 7.4 billion pounds compared with 7.6 billion in February. The latter was revised from 7.5 billion previously.

The latest figure is the smallest deficit since August 2007.

Analysts polled by Thomson Financial News had predicted a slightly wider shortfall of 7.5 billion pounds for March.

In other economics news, producer prices jumped in April to hit a series of record highs, underlining the threat of inflationary pressures in the pipeline, according to official figures.

The Office for National Statistics said producers' input prices rose 2.4 percent in April from March, way above analysts' forecasts for a 2.0 percent increase and sharply up on the previous month's rise of 1.7 percent.

In annual terms, input prices rose 23.1 percent, the biggest increase since records began in 1986. That follows a 20.5 percent rise in March and predictions for a 21.7 percent increase.

The figures are seasonally adjusted.

Back with equity movements, rumours of a bid propelled Kingfisher to the top of the blue-chip leaderboard, up 5.95 percent or 8.7 pence at 155.

Meanwhile, good gains were seen among energy producers, as oil prices slipped from the all-time high it hit on Friday as the dollar strengthened against the major currencies, but remained supported above $125 a barrel by ongoing supply fears in Nigeria and tensions in the Middle East.

BP was up 7 pence at 620-1/4, BG Group took on 21 pence to 1,3961, Tullow Oil added 21 pence to 1,361, and Cairn Energy gained 121 pence to 3,464.

Centrica, meanwhile, recovered from early losses to trade 7-1/2 pence higher at 294-3/4 despite its trading statement warning of further pressure on margins as gas prices rise.

Turning to the miners, Xstrata was up 16 pence at 4,203-1/2, helped by a bullish note from Deutsche Bank.

Earlier, the broker lifted its target price to 4,700 pence from 4,140 pence noting that spot commodity prices, particularly copper, ferrochrome, coking coal and thermal coal remain above its forecasts, the company's volume growth story is well intact and it anticipates strong earnings growth in 2008 and 2009.

Anglo American was boosted by a target price hike by the same broker, to 4,000 pence from 3,870 pence, with its shares up 32 pence at 3,414.

But shares in Kazakhmys shed 38 pence to 1,748, as investors mulled over the group's future, after it rejected an offer of about 1,550 pence per share from ENRC just before Friday's close.

Elsewhere, Edinburgh-based insurer Standard Life rose 4-1/2 pence to 261-3/4, as Citigroup upgraded its recommendation to 'buy' from 'hold' while raising its target to 290 pence, from 270 pence, saying that the group has the highest capital yield of any in the sector.

And HSBC climbed 16 pence to 881-3/4, after the UK's biggest bank said its group profit for the first quarter was higher than a year earlier, despite a further $2.6 billion in credit crunch-related writedowns, and a jump in bad debt charges at its troubled U.S. consumer lending unit.

But Barclays slipped 4 pence to 447-1/2, as Citigroup cut its target price to 350 pence from 400 pence while reducing its estimates, to reflect weaker revenue trends in Barclays Capital and rising loan impairment losses across the group.

Also on the back foot was British Energy, which dropped 7-1/2 pence to 693-1/2, as it appeared that only EDF had made a bid for the company.

There has been speculation in recent days that Spanish utility Iberdrola could also bid for British Energy, possibly jointly with Centrica, but as of late Friday financial sources said no Iberdrola bid had been made.

Among midcaps, power protection company Chloride Group headed the leaderboard, jumping 24.76 percent or 51-1/2 pence to 259-1/2, as the group confirmed it has received a preliminary approach at 255 pence a share.

And Southern Cross Healthcare shares were 31-1/2 pence firmer to 393 after the UK's biggest care home operator reported first half sales up 28 percent to 431 million pounds and said fee increases were ahead of its expectations. Responding, Brewin Dolphin lifted its earnings estimates, while maintaining its 'add' rating.

Meanwhile, Dana Petroleum rose 105 pence to 1,885, after announcing another discovery in the North Sea.

Midday Market Roundup

Apu - if the updates yourself and Spitfire have referred to on today's and Friday's thread are the ones posted under my username, I'm afraid it's my fault they're not being posted not Greystone's. I'm just a MoneyAM customer like everyone else but I took to posting these links (or rather, writing a program which did) some time ago because I find them useful and thought others might as well.

I'm in the process of moving back to the UK - I'm not trading at the moment and the computer which posts these links has been packed up. I'd been in two minds whether to continue doing this when I'm back in the UK later this week, because I wasn't sure whether anyone else was reading them, and using the Traders' Thread in the Investors' Room in this way has been the subject of some debate in the past.

If it is of some use then I'll try to continue posting, assuming this is what you are referring to.

End-of-day Market Roundup

Thanks Kyoto, I missed the comment.... See, you are missed already. :)

kyoto,
I for one regularly read your posts and find them useful.
This page is the first one I turn to at the start of each day.
[I actually thought that you spent part of your working day researching/posting this info which made me even more grateful]

Many thanks for your posts

Alex

Alex - sorry to slightly disappoint :-) I did work hard to write the program, but it's not nearly as hard as posting the links manually, even though the program requires regular maintenance.

Anyway, got to dash, 1.30am here and a flight to catch tomorrow. Good trading everyone.

Hear, hear. I found the resume of current articles most useful.

Traders thread is the first thing I look at in the morning, and I refer to it throughout the day. So your work is very much appreciated Kyoto. Thank you.................