Hello traders!

US stocks rallied tonight, driven by strong earnings news from the likes of Coca-Cola and EMC and a weaker-than-expected report on wholesale prices that helped calm inflation fears.

The Dow closed up 56.16 points at 10,127.41 with the Nasdaq Composite 19.44 points ahead at 1,932.36 and the S&P500 6.8 points better at 1,152.78.

See you in the morning for another exciting episode.....

G.

Good morning traders!

Asian markets are buoyant this morning, following the lead on Wall Street last night. However, oil prices are rising again, closing in on $53 a barrel.

Off to find some UK news...

Back soon.

Happy trading!

G.

Pernod to submit Allied Domecq takeover offer of 670p a share today

ICI UPGRADED TO 'NEUTRAL' VS 'UNDERPERFORM' AT CSFB

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 4,855.6, up 28.5
FTSE 250 6,999.1, up 67.6
DJIA 10,127.40, up 56.10
Nasdaq Comp 1,932.36, up 19.44
S&P 500 1,152.80, up 6.80
Tokyo: Nikkei closed at 11,088.58, up 22.72
Hang Seng midday 13,516.57, up 72.48
Gold 432.50 usd (427.10 usd)
Oil - Brent May 52.94 usd (50.78 usd)

BREAKING NEWS
* Brown aims for more flexible economy - but refuses to state spending limits - FT
* Inflation jumped to its highest level for seven years last month as oil prices pushed up air fares - FT
* MARKS & SPENCER signs up Amazon to develop and run its internet operation as it acknowledges it has fallen behind in the race to grab a piece of the online market - FT
* Russian vodka exporter SPI Group says ALLIED DOMECQ could lose the US rights to its Stolichnaya brand if Pernod takes over the UK group - FT
* OLD MUTUAL to sell a 605 mln stg stake in its South African businesses to employees, communities and outside investors - FT
* ROYAL DUTCH/SHELL completes the first significant part of the expected 7.8 bln stg disposal of non-core assets with the sale of its 1.75 bln usd InterGen power generation business
* MG Rover losses tripled to nearly 250 mln stg last year and the group has almost no assets left, says a preliminary view by the administrator, PricewaterhouseCoopers - Telegraph
* ABBEY NATIONAL preparing to cash in on soaring demand for commercial property by selling about 1 bln stg of real estate investments - Times

PRESS COMMENT
FT
THE LEX COLUMN comments on CAIRN ENERGY (Cairn's shares offer upside potential once more), Emerging market debt, Semiconductors, General Motors - BELLWAY (undeservedly cheap) - GAME GROUP (there may be a better price at which to buy into the long-term growth story) - FENNER (at a deserved premium to the sector given its exposure to energy and growth prospects)
Express
WILLIAM MORRISON SUPERMARKETS (rehashed speculation it could be taken private) - UK COAL (gossips believe it is still being stalked by a predator willing to pay close to 200 pence a share for its property assets) - SHARE WHISPER: TIMESTRIP (suggestions its collaboration with German packaging group Crown Zeller will deliver a significant revenue boost over 18 months) - WHO'S DEALING: CANTERBURY FOODS (director buys 1.95 mln shares at 28 pence)
Independent
THE INVESTMENT COLUMN: STAGECOACH (worth holding), BELLWAY (hold), GAME GROUP (avoid) - LIBRA NATURAL RESOURCES (whispers it will soon announce an acquisition in the US and a fund raising to pay for it)
Telegraph
QUESTOR: CAIRN ENERGY (a true growth stock), CARR'S MILLING (still worth holding), GAME GROUP (avoid)
Times
DIRECTORS' DEALS: YOOMEDIA (director buys stock for 52,000 stg) - TEMPUS: CAIRN ENERGY (shareholders expect good news in the pipeline), ULSTER TELEVISION (buy), HIGHLAND GOLD MINING (avoid)
Mail
J SAINSBURY (former Asda boss Allan Leighton and 'friends', including ex-Manchester City footballer Ray Ranson, said to be putting the finishing touches to a bold near-6 bln stg bid) - BIOFUELS (hedge fund manager Martin Hughes increases his Toscafield Fund's stake to 14.8 pct)
Guardian
AEA TECHNOLOGY (bid speculation) - HYDER CONSULTING (rumours it has received an offer from its rival WS ATKIN

Morning all.

Morning all.

Morning all.

Morning - calmer waters?

Afretnoon all.
Anybody got Alkane(ALK) in the dogs drawer?
Its woken up.
mac.