Hello traders!

US stocks rallied tonight after the Fed raised investor expectations that its cycle of interest-rate increases may be over sooner rather than later.

The Federal Open Market Committee voted unanimously to raise the benchmark federal funds target rate by a quarter-percentage point to 4.25%, putting rates at their highest level since May 2001.

The Dow briefly tapped a triple-digit gain to take it to a session-high of 10,871.51. The benchmark index was last up 94 points at 10,861. The Nasdaq Composite rose 9 points to 2,270 while the S&P500 Index was up 11 points at 1,271.

See you in the morning with updates.

G.

morning all :-)

Good morning traders!

Closing numbers from the US - The Dow finally closed out the session, up 55.95 points at 10,823.72. The Nasdaq Composite rose 4.05 points to 2,265 while the S&P500 was up 7 points at 1,267.43.

Today in Asia, the Nikkei has just closed down 314.28 points at 15,464.58, while the Hang Seng reached the midpoint off 30.45 points at 14,912.17.

Oil was ahead slightly with New York's main contract, light sweet crude for January delivery, at $61.38, 1 cent higher than its close of $61.37 in the US overnight.

There is a fair list of ex-dividend stocks to be wary of today.

Off to find some UK news....

Happy trading!

G.

Aus close

IMPERIAL TOBACCO CUT TO 'NEUTRAL' VS 'BUY' AT UBS
FIRSTGROUP DOWNGRADED TO 'NEUTRAL' FROM 'OVERWEIGHT' BY HSBC

LONDON (AFX) - Leading shares are expected to open higher, helped by a positive performance by Wall Street last night, as the Federal Reserve raised hopes that its cycle of interest-rate increases may be over sooner rather than later, dealers said.
According to spread betting firm IG Index, the FTSE 100 index is expected to open about 12 points higher after closing at 5,507.2 yesterday.

MARKETS
FTSE 100 5,507.2, up 5.7
FTSE 250 8,516.9, up 25.5
DJIA 10,823.70, up 55.90
Nasdaq Comp 2,265.00, up 4.05
S&P 500 1,267.45, up 7.00
Tokyo: Nikkei closed at 15.464.58, down 314.28
Hang Seng midday 14,912.17, down 30.45
Gold 524.70 usd (537.10 usd)
Oil - Brent Jan 59.52 usd (59.44 usd)

TODAY'S PRESS
* MARKS & SPENCER wins EU tax verdict; European Court of Justice attaches significant qualifications; ruling likely to cost tax authorities millions rather than billions - FT
* ROYAL DUTCH SHELL lifts spending to 19 bln usd in hunt for reserves - FT
* China to up GDP estimate by 20 pct - FT
* China National Petroleum and India's Oil and Natural gas Corporation close to clinching a purchase of Syrian assets worth about 1 bln usd - FT
* EUROTUNNEL warns of crisis if talks on 6.3 bln stg debt fail - FT
* HIGHBURY HOUSE director, David Sebire, quits after refinancing talks founder - Times

PRESS COMMENT
FT
THE LEX COLUMN comments on VODAFONE (buying expensive growth is risky, but it is at least preferable to the alternative sector trend of buying expensive ex-growth), European tax (in essence the court has created relief for disastrous, terminated, European adventures), Inditex (cavilling at breakneck sales growth seems mean-spirited), US rates (Alan Greenspan is loosening the straitjacket for his successor), Lehman Brothers (with the shares on about 2.8 times tangible book value, even its relative momentum compared to peers has already been amply rewarded), CADBURY SCHWEPPES (for now, cost-cutting and good organic growth allow the management to focus elsewhere; this time next year, however, when the current phase of the strategy is nearing completion, that could well change)
Times
Directors' dealings: CHRISTIAN SALVESEN (non-executive chairman buys stock for 49,600 stg) - Rumour of the day: TEG ENVIRONMENTAL (talk it has secured planning permission for the installation of its silo cages as part of its 925,000 stg contract with Swansea City Council) - TEMPUS: LANCASHIRE HOLDINGS (avoid), FIRSTGROUP (buy), CARPETRIGHT (buy)
Mail
SPIRENT (rumours of pending corporate activity)
Express
SHARE WHISPER: SPACELABS HEALTHCARE (traders believe more lucrative contracts are on the cards)
Telegraph
QUESTOR: GO-AHEAD (worth holding), ASHTEAD (worth holding), BRITISH ENERGY (there's reason to hold yet)
Independent
THE INVESTMENT COLUMN: CADBURY SCHWEPPES (at best a hold for now), LA TASCA (buy), ASHTEAD (have further to run)
Guardian
RANK GROUP (break-up rumours)

Good Morning all,

Are most people away on holiday?

Morning All.

Probably an early christmas "wine" down LW.

Anyone else looking at PSN as a pos. recovery play out there?

nope watchin an adding,

HYC - Breakout on very heavy volume
REG - Sat right on a 3 year breakout





REG

End-of-day Market Summary