Hello traders!

US stocks closed higher tonight with the Dow snapping a four-session losing streak, buoyed by better than expected results from Pfizer and upbeat earnings from AMD. A jump in oil prices to close to $67 a barrel capped gains late in the session.

The Dow was up 22 points at 10,877 at the unofficial close. The Nasdaq Composite was up 21 at 2,301.35 and the S&P500 was up 6.78 at 1,284.71.

See you in the morning with updates........

G.

Aus close

Good morning traders!

In Asia today, the Nikkei has just closed less than half a point higher at 15,696.69, while the Hang Seng reached the midpoint down 93.74 points at 15,576.68.

Oil prices surged past $67 a barrel in late morning trade here, with players spooked by news reports that Osama bin Laden has threatened new attacks against the US.

New York's main contract, light sweet crude for delivery in February, was up 21 cents at $67.04 a barrel, the highest in four months. It close in the US yesterday at $66.83.

Early broker notes:

KESA CUT TO 'NEUTRAL' VS 'OUTPERFORM' AT CSFB
NORTHERN ROCK CUT TO 'EQUAL-WEIGHT' VS 'OUTPERFORM' AT MORGAN STANLEY
PEARSON UPGRADED TO 'OVERWEIGHT' VS 'EQUAL-WEIGHT' AT MORGAN STANLEY

Happy Friday!

G.

Outlook

morning campers

LONDON (AFX) - The FTSE 100 is expected to open flat to slightly lower today on the back of high oil prices, a disappointing quarterly earnings release from Motorola, and as Asian bourses put in a mixed performance, dealers said.

CMC Markets is indicating the FTSE 100 to open down 1 point, having risen 29.5 points yesterday to close at 5,693.2.



MARKETS

FTSE 100 5,693.2, up 29.5

FTSE 250 8,955.6, up 108.8

DJIA 10,880.70, up 25.80

Nasdaq Comp 2,301.81, up 22.17

S&P 500 1,285.05, up 7.10

Tokyo: Nikkei closed at 15,696.69, up 0.41

Hang Seng midday 15,576.68, down 93.74

Gold 552.70 usd (547.40 usd)

Oil - Brent March 65.23 usd (64.19 usd)



TODAY'S PRESS

* Festive shoppers log on to record surge in online sales - FT

* Chirac in N-weapon threat over terrorism; shock warning to 'rogue' nations that they face attack - FT

* TESCO launches fresh assault on telecoms with VoIP service - FT



PRESS COMMENT

FT

THE LEX COLUMN comments on Pensions/gilts (if real risk-free rates rise, so does the real cost of equity, suggesting equities could fall reciprocally), VEDANTA (trades on a multiple of enterprise value to 2007 earnings before interest, tax, depreciation and amortisation of 6 times; that is a 10 pct discount to Vedanta's bigger, more diversified peers, rather than the 24 pct gap implied by headline numbers; at that level, it is time for a breather), French tax (raising the tax burden on the largest companies hardly seems the best way to encourage them to stay in France), Disney/Pixar (Pixar's creative culture could suffer under Disney; a film could flop; and, most important, Disney might have to pay too rich a price to secure Pixar), Merrill Lynch (this year could see a renewed appreciation of strong wealth management businesses; that could make Merrill's brokerage juggernaut king of the road)

Guardian

UNILEVER (could be a target for venture capital industry)

Times

Directors' dealings: OMG (two executive directors sell stock for 144,500 stg) - Rumour of the day: Reuben brothers believed to have built a stake of as much as 29 pct in ULTIMATE LEISURE - LLOYDS TSB (talk of stakebuilding by Warren Buffett) - TEMPUS: COMPUTACENTER (hold), VEDANTA (take some profits), TED BAKER (hold)

Telegraph

COMPUTACENTER (no more than a hold), ST JAMES'S PLACE CAPITAL (worth holding on to), ANGLO IRISH BANK (hold)

Express

SHARE WHISPER: ASIA ENERGY (Steve Bywater's arrival as chief executive seen as good for the company's operations in Bangladesh)

Mail

CREDECARD (two new board appointments bring wealth of financial services experience to the company)

Independent

THE INVESTMENT COLUMN: ST JAMES'S PLACE CAPITAL (investors may do better elsewhere), AUSTIN REED (wait for a better time to buy)

Good Morning all

End-of-day Market Summary