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Hang Seng -67

Nikkei -33

News Headlines:    U.S. stock markets closed the day much lower bringing the Dow back below 9,000 as investors used negative news from Freddie Mac and Motorola as a good reason to profit take after last weeks strong gains.

Cadbury Schweppes: awaiting data

BAA, says it handled 10.9 million passengers at its seven UK airports in May, up two percent on last year. From Heathrow airport it said traffic on its key North Atlantic routes fell seven percent.

Tesco, says it is making a recommended offer for Japan's C Two-Network Co, three years after it first indicated it was looking at expanding into Japan

First Choice Holidays has posted a narrower first-half loss and says it is confident about full-year prospects after a strong recovery in bookings since the war in Iraq. The firm, which has cut costs and capacity and focused on specialist holidays to weather a worldwide drop in tourism, said cumulative bookings for its mainstream summer holidays were two percent below the same period of last year compared with a four percent decline in March.

JD Weatherspoon sells 17 pubs for 10 Million in Cash

Severn Trent: has reported lower annual profits in line with expectations and warned of a tough year ahead, especially for its waste disposal and services arms. Profit for the year fell 3.6 percent to 250.4 million pounds, compared with analysts forecasts of 205-260 million. The group kept its full year dividend unchanged at 45.9 pence.

Deutsche Bank has restarted coverage on Marconi MONI with a "buy" rating target 66p Smith Barney, has downgraded its rating on chemicals firm ICI to "in-line" from "outperform". Smith Barney has cut its rating on the London Stock Exchange LSE   to "underperform" from "in line". UBS Warburg has cut its rating for building materials company Hanson HNS to "neutral" from "buy". Merrill Lynch has cut its rating on Britain's third largest property company Liberty International LII to "neutral" from "buy" after the stock rose above Merrill's price target of 610 pence per share.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Tue 10th	Dairy Crest (F) PBT 76.8m exp. London Scottish Bank (I) PBT 19.6m exp. Severn Trent (F) PBT 238m exp. Blick Plc (I), Charles Stanley (F), First Choice Holidays (I), Intechnology (F), London Merchant Securities(F),  RPC Group (F), TBI (F), VP (F) Cadbury Schweppes Trading Statement 09.30 Non-EU Trade Balance -2.5bn exp. BAA Traffic Figures FTSE Review Committee Meets Tomorrow changes based on tonights closing prices.	Schick Technologies (Q4)	07.00 German May Wholesale Price Index m/m 0.4% exp.
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