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UK Equities are expected to open lower but US futures are in the Blue so little direction in early trade.

MMO2 fourth- biggest mobile-phone company, said its fiscal full-year loss widened after it took charges of 9.7 billion pounds to sell a Dutch unit and cut the value of assets. The net loss was 10.15 billion pounds, or 117 pence a share, in the 12 months to March 31, compared with a loss of 850 million pounds, or 9.8p, a year ago. Revenue rose 14 percent to 4.87 billion pounds, from 4.28 billion pounds, the company said in a Regulatory News Service statement

Carlton said its first-half profit rose sharply, but warned that advertising revenues for the first nine months are expected to decline. Profit rose to 26.4 million againts analysts expected a profit of 24.7 million pounds. Group turnover fell to 473.9 million pounds from 503.1 million pounds.

Sainsbury  said on Wednesday profit was 695 million pounds up 10.8 percent from last year. They gave no indication of current trading, but said it was confident the group was making progress. Perhaps, well..... hmmmmm ....could be... not sure.... who knows .

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Wed 21st May	Compass Group (I) PBT 270m exp. Land Securities (F) PBT 336m exp.mmO2 (F) PBT 826m exp. National Grid Transco (F) PBT 1227m exp.Sainsbury (F) PBT 686m exp. Enterprise Inns May 21 (I) International Power May 21 (Q1), MMO2 (F), Carlton Communications (I), Countryside Properties (I), Enterprise Inns (I), International Power (I), ScS Upholstery (I), Investec (I) Land Securities (F), Deutsche Equity Income Trust, Medisys Millennium & Copthorne Hotels AGM Coats PLC AGM 09.30 UK April M4 Money Supply y/y 7.3% exp. 09.30 UK April CML Lending 09.30 UK April PSNCR -2.2bn 09.30 UK May MPC Minutes
	Ex Dividend: Anglo-Eastern Plantations (2.58), Bloomsbury Publishing (5.52), Capital Radio (6), Carnival (US$0.105), DFS Furniture Group (7), Diploma (5), Henry Boot (9.8), Huntleigh Technology (3.1), Inchcape (21), International Power (US$0.25), London Security (5), Safeway(6.61), Simon Group (0.87), Taylor Nelson Sofres (1.7), Ted Baker (5.8), UK Coal (5), Ultraframe (3.24)
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