Hello traders!

US stocks staged a late rally tonight, with the S&P500 closing at a four-year high after a new Federal Reserve report added to signs of a resurgent economy.

The S&P500 ended 5.63 points higher at 1,236.79 and the Dow Jones Industrial Average closed up 57.3 points at 10,637. The Nasdaq Composite overcame early weakness to close up 10.23 points at 2,186.

See you in the morning with the latest........

G.

Good morning traders!

In Asia this morning, the Hang Seng Index ended the morning up 22.24 points at 14,824.10 with the Nikkei recently trading up 38.18 points at 11,873.26, both following Wall Street's lead.

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

Happy trading!

G.

MARKET EXPECTATIONS
* Alliance UniChem. Williams de Broe forecasts six months to June net income before exceptionals and goodwill under IFRS 88.4 mln stg vs 75 mln; interim dividend 7.0 pence, up 12 pct.
* AstraZeneca second quarter operating profit 1.24-1.41 bln usd vs 1.11 bln
* British American Tobacco six months to June operating profit 1.18 bln stg vs 1.29 bln; pretax profit 1.24 bln stg vs 1.16 bln
* Capita six months to June pretax profit before exceptionals and goodwill 73.1 mln stg vs 63.6 mln
* Exel six months to June pretax profit before exceptionals and goodwill under IFRS 75 mln stg vs 57.8 mln
* GlaxoSmithKline six months to June pretax profit 1.43-1.70 bln stg vs 1.54 bln
* Legal & General six months to June operating profit under European Embedded Value 462 mln stg vs 292 mln stg on old achieved profit measure; operating profit on modified statutory basis under IFFR 303 mln stg vs 284 mln under GAAP; interim dividend 1.65 pence, up 2 pct
* MFI Furniture Group 24 weeks to June pretax profit before exceptionals 20 mln stg vs 33.1 mln
* National Express Group six months to June pretax profit before exceptionals and goodwill 58.3 mln stg vs N/A; interim dividend 10.0 pence
* Northern Rock six months to June pretax profit under IFRS 238 mln stg vs 200.3 mln under GAAP
* Reed Elsevier six months to June pretax profit before exceptionals and goodwill under IFRS 390-395 mln stg vs adjusted 387 mln
* Renishaw. Arbuthnot Securities forecasts year to June pretax profit 28.0 mln stg vs 20.1 mln; total dividend 19.6 pence vs 18.0
* Rolls-Royce six months to June pretax profit before exceptionals 190-220 mln vs 136 mln; interim dividend 3.3 pence vs 3.18
* Royal Dutch Shell second quarter net income , on adjusted current cost of supply basis 4.54-5.90 bln usd vs 3.66 bln
* Shire Pharmaceuticals second quarter pretax profit 114 mln usd, down 10 pct

AFX UK at a glance share guide - 2

MARKETS
FTSE 100 5,263.6, up 7.4
FTSE 250 7,554.3, up 61.0
DJIA 10,637.09, up 57.32
Nasdaq Comp 2,186.22, up 10.23
S&P 500 1,236.79, up 5.63
Tokyo: Nikkei 225 11,882.98 up 47.90 (midday)
Hang Seng midday 14,824.10 up 22.24 (midday)
Gold 424.25 usd (424.30)
Oil - Brent Sept 58.01 usd (58.03 usd)

BREAKING NEWS
* ASTRAZENECA chief executive Sir Tom McKillop to announce departure today to
take up RBoS chairmanship - Telegraph
* SHIRE PHARMACEUTICALS faces court battle to seal US takeovers as more than
third of TKT's shareholders demand court fair value review - Independent
* PRUDENTIAL could cash in its chips over EGG stake - Mail
* SANTANDER's Abbey National on target to cut 150 mln stg overheads - FT
* Bank pulls the plug on privately-owned Tiny computers business - Mail
* Rejected MG Rover bidder offers to set up a 40 mln stg fund for suppliers who lost money in the collapsed group, provided the Chinese buyer sells most of the business to him - FT
* SAIC still seeking base in UK despite losing Rover fight - Times
* Hedge funds launched soar to record levels in the first half, with more than 13 bln usd raised in new capital - Times
* Increase in repossessed homes hits 13-year high - Times
* Italy's central bank governor caught plotting to halt takeover - Telegraph

PRESS COMMENT
FT
The Lex Column: BG GROUP (Given the deteriorating risk profile, the height of
the pedestal doubtless owes much to BG's perennial perception as being perfect
takeover target); GRUPO SANTANDER (Given BBVA retains some acquisition risk,
SANTANDER might be the better relative bet); Trade Agreements (The Central
American Free Trade Agreement's struggle has already made it harder to secure
a deal at the World Trade Organisation and that is bad news for an
increasingly vulnerable world economy); FRANCE TELECOM (If, as a last resort,
FRANCE TELECOM simply believes the whole sector is cheap, it should have
bought its own shares, trading on around Amena's multiple)

Times
Rumour of the Day: WYEVALE GARDEN CENTRES (Two US private equity houses said to have offered 620 pence per share for co.) -- Smaller Stock to Watch: ECKOH TECHNOLOGIES -- Tempus: BG GROUP (Company better than most at handling the challenge); UNITED BUSINESS MEDIA (hold); EGG (hold)

Telegraph
Questor: UNITED BUSINESS MEDIA (worth holding on to); Oil (worth remembering that today's oil shortage is tomorrow's glut); WOLFSON MICRO (Hold on)

Independent
Investment Column: BG GROUP (good moment to take profits); BROWN & JACKSON (sell)

Express
Share Whisper: HOMESTYLE (worries that a slowdown in 'big ticket' spending could hit this year's profits) -- Who's Dealing: GALAHAD GOLD (Deputy chairman Jim Slater and family exercise share share subscription rights) -- Market Report: REGAL PETROLEUM (stake-building rumours)

Mail
Market Report: GB GROUP (talk a major blue chip client has signed up for its
software product); ADVFN (Dublin-based private investor Peter O'Reilly increases his stake to over 10 pct); WEATHERLY (rumours Co. is on the verge of acquiring a strategic stake in a Zambian copper mine)

Good morning all. Very wet in North Wales this morning. Hoping the UK market will be better than the weather after a good close in the US last night with S&P 500 closing on a 4 year high.

Good morning all

Good morning LW

good morning optomistic

Premium bonds have increased the interest paid to 3.25% from 3.20% into the "draw fund". There are going to be 1m x 2 in the Aug 01 draw onws.

Maybe I could win them both! LOL ;-)