News Headlines:  

In the U.S. Commerce Department issues Business Inventories for July at 1230 GMT. Economists expect a median fall of 0.2 percent, versus a rise of 0.1 percent in June. Production figures from the world's largest economy are due out at 1315 GMT and are expected to show a rise of 0.2 percent, versus a gain of 0.5 percent in July.

Sweden has decisively rejected the European Union's single currency

Astra Zeneca launch's its top new drug hope Crestor in the crucial U.S. market on Monday, London's Times newspaper said, without citing sources.BP Shell Oil prices hit their lowest level in four months on Friday as a powerful hurricane in the Atlantic looked likely to pass to the north of U.S. Gulf oil and gas installations.Telewest agreement on restructuring is likely to be posted to creditors over the next two months, a source close to the talks said on Friday.

Aegis Group media advertising said it had agreed to buy Belgian research business Censydiam Group for up to 8.75 million euros

Whitbread possibly wants to buy Premier Lodge

The average house price rose by nearly 15 percent in the year through July with the average price of a property in July was 156,273 pounds, up 14.6 percent from a year earlier. The new monthly index, which is being compiled on an experimental basis by the office of the deputy prime minister, is based on the price of 25,000 properties sold each month.

United Kingdom F)inals (I)nterim	United States (Click Flag) All  Times GMT	Europe & World All  Times GMT
Mon 15th Sep Reporting Company Updates Financial Data Enterprise (I), Ulster Television (I), Vanco (I), Wilmington Group (F)	13.30 2nd Quarter Current Account -$138bn exp. 13.30 Sep Empire State Manufacturing Survey 15.0 exp. 13.30 July Business Inventories 0.1% exp. 14.15 Aug Industrial Production 0.3% exp. 14.15 Aug Capacity Utilisation 74.6% exp.	Europe: Thales (I), JC Decaux (I)
Good Trading!      david@FTSEDOW.com     www.FTSEDOW.com Pivot Calculator

Retailers dominate next weeks results with many high street names posting first half results. The hot weather in the UK is expected to boost sales at UK supermarket Tesco, and British retailer and DIY chain owner Kingfisher. On the clothing side we have NEXT & the current favourite French Connection. Its also a big week for the pharmaceuticals with no less than five biotechs reporting results including Acambis who have benefited greatly from demand for its smallpox vaccine

MondayU.S. industrial production numbers are due on MondayTuesdayTesco analysts are expecting the supermarket chain to have kept up the momentum when it unveils its half-year figures. And with surveys pointing to strong sales of food and drink and summer clothing during the hot weather, Tesco could well outperform*. Stockbroker Gerrard expects it to post pre-tax profit growth of around 15% to 625m.

French Connection said in March that the year had started extremely well both in the UK and also in the US

Investors will be hoping the ZEW index in Germany will show a rise for the ninth month in a row as Europe's biggest economy tries to crawl out of recession.

The Fed's open market committee meets to discuss U.S. interest rates, but is not expected to cut decades-low borrowing costs further, but any comment on the economy will be scrutinised.WednesdayKingfisher should show strong profit growth from B&Q now it has floated off its Comet electricals side as Kesa Electricals. Analysts expect to see pre-tax profits climb 13% to around 266m.  But the Telegraph says the retailing group will say this week that its post-tax profits for the first half of the year have been virtually wiped out by the cost of the Kesa demergerKesa itself faces a crucial test as it issues its first set of results as a separate entity. The group continues to face tough conditions in Europe although the market in the UK has been stronger. There is no clear market consensus on where pre-tax profits will come in but the Sunday Mail predicts it is set to reveal a sharp fall in underlying sales this weekThursdayWilliam Morrison reports half-year results with good growth in profits & market share. Analysts are expecting like-for-like growth of 6.9% excluding petrol - or 8.4% if it is included and pre-tax profits are forecast to be 127.5m. Investors will be looking for clues to the outcome of the battle to take over Safeway. NEXT: Analysts are forecasting  profits to rise less than 2% from 115.8m last time. Growth in pre-tax profit is likely to have been held back by a change in the reporting calendar, which includes an extra week of the sale period in the first half compared to last year and a sharp increase in interest payable, reflecting the cost of the company's share buyback programme.

Analysts do not believe sales at were hit too hard by August's heat wave and predict the company is fighting back after mistakes made last autumn. Investors will also focus on whether Next has managed to resolve some of the issues which have dogged the firm since the autumn when the resurgence of M&S started to eat into its sales and it admitted to making mistakes with its ranges for winter.Carnival analysts are hoping that a rise in bookings by a possible 54% could have a positive impact on pricing. The big problem is the substantial increase in capacity from new cruise ship launches which could lead to lower prices unless booking recovers strongly. Carnival forecast third quarter earnings to be about 54p per share and analysts are forecasting pre-tax profits of 430m.

U.S. jobless claims will be examined to see if the economic recovery still fails to get more people working. Friday

The Philadelphia Federal Reserve survey of business activity is due.

So-called witching or expiry of futures and options on shares, takes place on Friday, with quadruple-witching on Wall Street, triple-witching in Frankfurt, and double-witching in London, depending on the range of derivatives expiring. Witching can see huge trades in index futures, options and the underlying stocks to cause abnormal market moves. In the UK when Index Future & Option Expiry takes place between 10.10 10.30. Take care, during the period the fluctuations in share prices can trigger stop losses placed on positions. Also during this period the normal market monitoring safety which protects traders from making mistakes on shares which would move the price by more than 5% are removed.

Thoughts: As expected last week the FTSE and DOW are still firmly in the blue up channel shown on the chart above and I see no reason to think it is going to change. If this channel remains in place we could see a very quick 5% rise on the FTSE to 4500 and the DOW threatening to break 10,000 by Xmas!

Wishing you all the best for the week ahead and as ever looking forward to your thoughts!

David

David@FTSEDOW.COM  www.FTSEDOW.com    All the above comments are purely a personal opinion and no investment advice is intended.  Please do your own research.

United Kingdom

F)inals (I)nterim 

United States

(Click Flag) All  Times GMT

Europe & World

All  Times GMT

Enterprise (I), Ulster Television (I), Vanco (I), Wilmington Group (F)

Tesco PBT 624.7m exp.  Acambis (Q2), Axon Group (I), Cobham (I), Freeport (F), French Connection (I), Future Network (I),Georgica (I), Interserve (I), Oxford Biomedica (I), Paladin Resources (I), Redrow (F)

00.30 Aug RICS House Prices Survey 09.30 Aug RPI-X y/y 2.9% exp.

15.30 July Leading Indicator Index

General Mills (Q2), Pier 1 Imports (Q2)

13.30 Aug Consumer Price Index m/m 0.4% exp. 18.00 Sep NAHB Housing Market Index 70.0 exp. 19.15 FOMC Rate Announcement

10.00 Sep German ZEW Sentiment 58.5 exp. 11.00 July Industrial Production m/m 0.9% exp.

Kingfisher (I) PBT 266.4m exp. Xstrata (I) PBT US$73m exp.Taylor & Francis Group (I) PBT 39.4m exp. Corporate Services Group (I), Development Securities (I), Hiscox (I), Huntleigh Technology (I), Kesa Electricals (I), Kier Group (F), Robotic Tech Systems (I),

Xansa (AGM)

09.30 Bank of England Minutes 09.30 Aug Unemployment 2.3k exp. 09.30 July Average Earnings 3m y/y 3.2% exp.

FedEx (Q2)

13.30 Aug Housing Starts 1825k exp. 19.00 Aug Monthly Budget Statement -$78.0bn exp.

Elan Corp (Q2)

11.00 Aug CPI y/y 2.1% exp. 11.00 July Trade Balance

Ex Dividend: Aegis Group (0.52), Amlin (0.85), Brambles Industries (4.053), Cadbury Schweppes (3.65), Carillion (1.575), Chelsfield (2), Diageo (15.7), Gallaher Group (9.45),

Goldshield Group Plc (1.45), Guiton Group (3.54), Highway Insurance Holdings (0.8), HMV Group (3.4), IMI (6),Jurys Doyle Hotels (EUR 0.081), Kingspan (EUR 0.026),

McInerney Holdings (EUR 0.05), Michael Page International (1.1), Molins (4.6), Monsoon (3.5), Nestor Healthcare (3.48), P&O (4.5), Provident Financial (13.1), Rank Group (4.6),

Rathbone Brothers (10), Renishaw (11.36), Robert Walters (1.05), Roxboro (3.1), Schroders (5.5), Schroders NV (5.5), Spring Group (0.1), Staffware (2), Torex (1.15),

Whatman (1.62), Woolworths (0.36), WSP Group (2)

Carnival Q3 PBT US$690m exp.Next (I) PBT 116m exp. WM Morrison (I) PBT 127.5m exp. Alvis (I), Antisoma (F), Chime Communications (I), Premier Oil (I), Venture Production (I)BPB Trading Statement

09.30 Aug Retail Sales m/m 0.1% exp. 09.30 Aug Preliminary M4 Money Supply y/y 7.3% 09.30 Aug PSNCR 2.85bn exp. 09.30 Aug CML, BBA & BSA Mortgage Lending

Nike (Q2), Palm Inc (Q2) 13.30 Initial Jobless Claims (w/e 13/09) 410k exp. 15.00 Aug Leading Indicators 0.4% exp. 17.00 Sep Philly Fed 18.0 exp. 19.00 Minutes of Aug 12th FOMC Meeting

International Energy (I), Johnson Service Group (I), Kiln (I),

Minerva (F),S&U (I), Selfridges (I)Index Future & Option Expiry (Double Witching) 10.10 10.30

SETS Price Monitoring InactiveFTSE Index Quarterly Reshuffle & Weighting Changes - Effective after the close of business.

07.00 Aug German Producer Prices m/m 11.00 2nd Quarter Production in Construction 11.00 2nd Quarter Labour Costs y/y

Collins Stewart Tullett (I),Gresham Computing (I) Peter Hambro Mining (I), Charles Taylor (I)

Ricardo (F), Trading Sports Exchange Systems (I)

Daily Mail and General Trust trading statement Unilever PLC trading statement

NTC Aug leading indicators (0830 GMT)

BRIT Insurance Holdings (I), Corin (I), GAME Group (I) LiDCo Group (I), Metalrax Group (I), Skyepharma (I)

ICM (F), NetBenefit (F), Wolseley (F)

Numerica (AGM), Park Group (AGM)

Emap PLC trading statement

Aug labour market report (0830 GMT) BoE MPC minutes of Sept 3/4 meeting (0830 GMT)

Barratt Development (F), Beazley (F), Corus (I) JKX Oil & Gas (I), Premium Trust (F), Xaar (I)

House of Fraser (I)

Ex Dividend: Alba PLC (7.75 ), Aviva (9), Centrica (1.7), Davis Service Group (5), Hammerson (5.12), LogicaCMG (2.3), Northern Rock (7.5), Taylor Woodrow (2.4)

Chaucer (I), Croac Group (I) Coliseum Group (I), Maiden Group (I) Wellington Holdings (I)

Atrium Underwriting (I), Motion Media (I) Goshawk Insurance Holdings (I)

GDP-Final Mich Sentiment-Rev.

Amid accusations of phone cloning and the use of car-tracking bugs in the Collins Stewart affair, the Square Mile is suddenly paranoid. Telegraph

BAT is lining up a 2bn bid for the cigarette arm of Turkish state group Tekel. Philip Morris and Japan Tobacco are also in the running. CBI, the employers' body, is proposing the phasing of payments to sacked directors in an attempt to head of Government legislation over 'rewards for failure'.

Telewest is planning to list in New York in a move allowing it to merge with rival cable operator NTL, which already has a US quote.

The FSA is to unleash a major crackdown on insider trading, with 12 insider-dealing and other market abuse cases due before the courts in the next three months

Sainsbury adds homeware to challenge John Lewis Allied Irish Bank Bank of America savages AIB's Rusnak claim Moran sets his price for IWP International buyout at 5.9m Royal and Sun Alliance to sell off estate agents BAE dodges flak to home in on a new Saudi deal Whitbread wants budget hotel rival Minmet's 4.4m global rights deal BAE lines up Saudi plane deal Allied Irish Bank issues 1bn bond to grow mortgage lending Woolworths courts buyers for Big W chain Logica Cheap text deals hide rise in prices

Directors' Deals: Pizza chain brothers cook up a sale Judgment Day: Should you be buying shares in Isoft? Ask Central Directors' Deals: Pizza chain brothers cook up a sale

Irish business digest , Independent News and Media Wrigley puts mint into its Cadbury challenge London Stock Exchange FSA targets insider dealing 'dirty dozen' Permira likely to launch counter-bid for Debenhams Bank of Ireland: McCreevy in secret 500m spending plan Kingspan Group Irish business digest

Slush fund claims haunt BAE

Kingfisher profits wiped out by Kesa demerger bills No cause to be up in arms over BAE's baksheesh Manchester United Peter Kenyon to net 2m a year at Chelsea Brascan threatens Canary Wharf veto GlaxoSmithKline Hogg's mission impossible: winning plaudits for Garnier's pay

Trafficmaster The market is thinking long-term at last Premier Oil The market is thinking long-term at last Wembley's date with Providence

Run-down Boots needs a hefty dose of change from Baker

BAE's 'mini' Al Yamamah at risk from sleaze claims

Kingfisher, will say this week that its post-tax profits for the first half of the year have been virtually wiped out by the cost of the Kesa demerger

Wembley's plans to expand its gaming operations in the US have been dealt a severe blow by last week's indictment on bribery charges of two directors,

Telewest moves to US in debt deal Next's sales did not dry up in heat Dixons Clare and present danger BSkyB Sky-high task to put the 'new' into News 24 Carlton Fears grow over ITV asset-stripping

Kingston Communications Called to Hull and back Cheapside Vodafone Business Comment BAE Systems

Morrison's record profits to boost Safeway bid BAT reheats $4bn bid to buy Camel and Winston

Banks 'baling out on MyTravel'

Man U bracing for takeover

Debenhams chief facing fresh battle

Tesco facing a complete freeze of its assets in the Czech Republic

Bidders queuing up for Boosey

EMI is poised to make an offer of 600m for Warner Music

Collins Stewart stockbroker buys energy brokers Starsupply for 5m.

Minmet pays 3.1m for the rights to a radical new way to extract go

MyTravel is on the brink of bankruptcy, despite having won backing from bondholders for a 1.3bn debt refinancing deal The deal is expected to be announced on Monday, but industry sources warn that the company's bank debt is being sold more cheaply than Marconi's was before the collapse of the telecoms firm in 2001.

KESA, created three months ago from the demerger of High Street giant Kingfisher, is set to reveal a sharp fall in underlying sales this week

Securicor's potential liability for big damages claims resulting from 9.11 increases

Vodaphone, Orange, mmO2 Mobile firms in fight for 4bn rebate Next Already bespoken for: a retail dead end

Business View: Brasher and Bolder. After the food feud, Tesco must deliver the goods

BAE condemned for targeting 'trouble spots' such as the Democratic Republic of Congo and Iran to sell arms

Allied Domecq will this week begin takeover talks with Australian wine producer Peter Lehmann Wines. Contracts worth 1.2bn are up for grabs to build an oil platform to tap the most significant North Sea oil finds for a decade.

10m price tag on British Energy HQ Superwoman' under fire for Aegon results HBOS Forth Ports linked to takeover bid Scottish Investment Trust close to replacing chairman Sun shines on Tesco and Wm Morrison

Tips: Buy Royal Bank of Scotland at 15.50 Alizyme at 81p, Merrydown at 73p, Auto Indemnity at 29p, Consolidated Minerals at 35p. Sell Carpetright at 791p. Updates: Buy Whittard of Chelsea, AB Foods, and Acambis, Punch Taverns (PUB.L) is good value, Hold Regal Petroleum, Are Smaller Companies share prices running ahead too far? : DTZ , Betinternet , T Clarke , Vitec, Kewill Systems , Toad , Debt Free Direct , Morgan Crucible , Charter, London Bridge Software , IQE , Landround, Amstrad . Company Results: Buy Diageo , Regent Inns , Ask Central , Tullow Oil , Mears , Gyrus , Yule Catto, Sell JD Wetherspoon, Thornton

Plays of the Week: Buy Retail Decisions at 12.625p, Inter-Alliance Group at 3p, Hot Group at 18p, Belgravium Technologies  Updates: Hold Stadium Group, Take profits/Hold SurfControl, Sell Coe Group,Company Profiles: Huntsworth, Tate & Lyle,Chart Buys: Lastminute.com, Colt Telecom, Spirent, Yule Catto, Gresham Computing Photo-Me International