Hello traders!

Approaching the close, US stocks were headed for their best gains of the year, picking up momentum after a much stronger-than-expected regional manufacturing report added to the upbeat tone already set by another dose of strong corporate earnings.

The Dow was last up 179 points at 10,191. If the blue chip gauge can hold those gains it would be its biggest one-day point move higher since October 1st, 2003.

The Nasdaq Composite surged 43 points to 1,956. At that level it would make for its biggest point gain since October 1st, 2004

The S&P500 climbed 20 points to 1,157.

Looks like a fun morning ahead.....

See you then with breaking news.

G.

Good morning traders!

US stocks roared higher last night with the Dow posting its biggest one-day point gain in two years. Solid corporate earnings and a much stronger than expected regional manufacturing report helped soothe investor worries about an economic slowdown.

The DJIA closed up 206.24 points at 10,218.60, highest since April 2nd 2003.
The Nasdaq Composite surged 48.65 points to 1,962.41, recording its biggest one-day point gain since March 25th last year, and the S&P500 added 22.45 points at 1,159.95.

Asian markets are following Wall Street's lead this morning, with oil prices also continuing to rise.

Back with UK breaking news in a mo.....

Happy trading!

G.

LONDON (AFX) - Leading shares look set for a strong opening performance this morning after US stocks leapt higher yesterday, with the DJIA registering its biggest one-day point gain in two years as a much stronger-than-expected Philly Fed manufacturing report and another dose of strong corporate earnings helped soothe investor worries about an economic slowdown, dealers said.
Spread bettors FinSpreads expect the FTSE 100 index to open around 30 points firmer today at 4,854.
The blue chip index closed 2.4 points lower yesterday at 4,819.6.
Overnight in New York, the DJIA closed 206.24 points stronger at 10,218.60, its biggest one-day point move higher since April 2003 helped by news the Philly Fed index rose to 25.3 in April from 11.4 in March.
Economists had been expecting a slight increase to 11.9.
The Nasdaq Composite Index, meanwhile, leapt 48.65 points higher to end at 1,962.41, recording its biggest one-day point gain since March 2004 helped by well-received corporate earnings news from the likes of Motorola and Nokia.
News after-hours in the US was also positive, with shares in internet search engine Google adding more than 9 pct in value after its first quarter numbers smashed analyst forecasts.
Google posted first quarter earnings of 1.29 usd per share and sales of 1.26 bln easily beating forecasts of 92 cents per share and 731 mln usd in revenues.
The buying continued in Asia today, with the Nikkei 225 index at midday 108.67 points higher at 11,093.06, while the Hang Seng ended its morning session 78.33 points firmer at 13,675.64 reflecting Wall Street's leap.
In London, after yesterday's exciting batch of corporate news which included Pernod Ricard's 7.4 bln stg agreed bid for Allied Domecq and a 1.6 bln usd acquisition by Shire Pharmaceuticals, the diary is pretty bare today.
The main focus should be on a trading update from blue chip advertising giant WPP, with UBS expecting the firm to report first quarter organic revenue growth of 6.1 pct, up from 5.7 pct in Q4 2004.
WPP said in February that its revenues for January were up by more than 6 pct, and UBS expects media buying and planning to remain a key area of high growth for the group following a series of new business wins in 2004.
The broker expects WPP to reiterate its margin targets of 14.3 pct for 2005 and 14.8 pct for 2006.
The only set of results scheduled for release today, however, will be full year numbers from small cap group Surgical Innovations.
Two companies will also hold AGMs today, Erinaceous and Morgan Crucible, while Reversus will hold an EGM.
In the press, the Financial Times reported that senior figures on the Manchester United board are believed to have decided not to recommend Malcolm Glazer's latest 300 pence-a-share offer to the football club's shareholders.
The move would leave Glazer with the option of going directly to United shareholders with a bid that has not been recommended by the board.
And it is bid deadline day for supermarket second liner Somerfield today.
A consortium including Barclays Capital, Apax Partners, The Tchenguiz Family Trust and Baugur have been trying to seek a recommendation from the Somerfield board for a cash offer for the food retailer.
On the economics front, all eyes will be on the preliminary estimate of UK first quarter GDP data which is predicted to show a rise of 0.5 pct from the previous quarter, taking the annual rate to 2.8 pct.
In the last three months of 2005, GDP rose 0.7 pct and 2.9 pct.
At this stage the estimate is based on only limited information and has
recently been prone to subsequent upward revisions, HSBC has noted.
No major US economic data is scheduled for release today.

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Investors Chronicle

TIPS - LARGE COMPANIES: ITV (buy), MORGAN SINDALL (buy), SCI ENTERTAINMENT (sell)

TIPS - SMALLER COMPANIES: INVU (buy), ZAMBEZI RESOURCES (buy), AIR MUSIC & MEDIA (buy)

TIPS - UPDATES: WOOLWORTHS (good value), ANTISOMA (buy), CATTLES (buy), CONSOLIDATED MINERALS (buy), DELTRON ELECTRONICS (hold)

Morning all from a nice, sunny North Wales but I can still see snow on Snowdon!!

What a rise in the DOW !!! - Will FTSE follow today?

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 4,819.6, down 2.4
FTSE 250 6,970.4, down 11.3
DJIA 10,218.60, up 206.20 (biggest daily gain in more than two years)
Nasdaq Comp 1,962.41, up 48.65
S&P 500 1,159.95, up 22.45
Tokyo: Nikkei closed at 11,045.95, up 61.56
Hang Seng midday 13,675.64, up 78.33
Gold 434.20 usd (434.80 usd)
Oil - Brent June 54.01 usd (53.78 usd)

BREAKING NEWS
* CADBURY SCHWEPPES chief, John Sunderland, slams investor groups for lack of openness - FT
* Administrators of failed Birmingham carmaker MG Rover investigating whether car and engine designs sold to a Chinese company last year for a total of 67 mln stg were underpriced and whether there are flaws in the transfer of the intellectual property rights - FT
* New York Stock Exchange to go public via a merger with Archipelago
* Several large banks, including LLOYDS TSB and BNP Paribas, as well as OLD MUTUAL, submit indicative offers for Deutsche Asset Management's troubled UK division, according to people close to the auction - FT
* SHIRE PHARMACEUTICALS paying 838 mln stg cash for Transkaryotic Therapies
* Senior figures on the MANCHESTER UNITED board believed to have decided not to recommend Malcolm Glazer's latest 300 pence-a-share offer to the football club's shareholders - FT
* CHARACTER GROUP considers possible demerger of its digital camera business
* Clara Furse in frame as MARKS & SPENCER steps up hunt for chairman - Mail

PRESS COMMENT
FT
THE LEX COLUMN comments on Pernod Ricard/ALLIED DOMECQ, Nokia, New York Stock Exchange, Wind auction - Interest in biodiesel innovation is beginning to spread; Chris Tighe takes a look at two companies (D1 Oils and BIOFUELS CORPORATION) at the forefront of green fuel production (p.25)
Mail
ITV (punters believe that a mouthwatering 6.5 bln stg bid is cooking) - INTANDEM FILMS (floats on AIM today)
Telegraph
QUESTOR: WH SMITH (avoid), ALIZYME (If you're looking for a cheap stock and don't mind the inevitable risks inherent in biotechnology, there is better value elsewhere), TRADING EMISSIONS (a home for the brave)
Times
DIRECTORS' DEALINGS: P&MM GROUP (director sells stock for 140,000 stg) - RUMOUR OF THE DAY: REG VARDY (talk that chief executive had picked up one million shares through Brewin Dolphin at 500 pence) - VIRGIN MOBILE (launch delay is bad call for Virgin) - TEMPUS: SHIRE PHARMACEUTICAL (bulls of the stock likely to see the shares come cheaper still), WH SMITH (buy), MELROSE (watch from the sidelines, for the time being at least)
Guardian
ITV (could be a takeover target for Sparrowhawk)
Express
SHARE WHISPER: TELSPEC (suggestions it is close to securing several lucrative broadband contracts) - WHO'S DEALING: CAFFE NERO (chairman and chief executive buys 18,326 shares at 163 pence)
Independent
THE INVESTMENT COLUMN: WH SMITH (sell), TRADING EMISSIONS (high risk but looks a fun punt), CHARACTER GROUP (unappealing) - ITV (talk of Dyke bid)
Investors Chronicle
TIPS - LARGE COMPANIES: ITV (buy), MORGAN SINDALL (buy), SCI ENTERTAINMENT (sell); TIPS - SMALLER COMPANIES: INVU (buy), ZAMBEZI RESOURCES (buy), AIR MUSIC & MEDIA (buy); TIPS - UPDATES: WOOLWORTHS (good value), ANTISOMA (buy), CATTLES (buy), CONSOLIDATED MINERALS (buy), DELTRON ELECTRONICS (hold)

Morning all

Morning all.

Morning All,

Took a small profit from ISF.

Only hope for the rest of the day Is for another fall In the market.