Hello traders!

In the US tonight, at 9:15pm, the Dow Jones Industrial Average was sitting close to its lows for the session, down 72 points at 11,177. The Nasdaq Composite lost 9 points at 2,306 and the S&P500 lost 6 points to 1,295.

The Fed raised its target for overnight interest rates to 4.75% from 4.5%, as was widely expected, but said in its statement that 'some further policy firming may be needed' to keep economic growth and inflation in balance.

See you in the morning with the aftermath.....

G.

Good morning traders!

In the US last night, the Dow closed down 95.57 at 11,154.54 with the Nasdaq off 11.12 at 2,304.46 and the S&P500 8.38 weaker at 1,293.23.

In Asia today, the Hang Seng closed the morning down 47.60 points at 15,808.98, while the Nikkei was recently 16,927.21, up 236.97 points.

New York's main oil contract, light sweet crude for delivery in May, was down 7 cents at $66 a barrel from its close of $66.07 in the US.

Early broker notes:

INVENSYS DOWNGRADED TO 'UNDERPERFORM' FROM 'IN-LINE' BY GOLDMAN SACHS
INTERCONTINENTAL HOTELS UPGRADED TO 'BUY' VS 'NEUTRAL' AT UBS

Happy trading!

G.

Morning all.

UPS (Added by Master RSI on Wed 29 Mar 08:44 am)

UPS
BVC 27 -27.50p
Large drop since results were still losses but well recovering after a few good contracts. Strong drop late yesterday and follow this morning now recovering, L2 strong order book on the bid side

bollinger bands, MACD

London shares - midmorning features

LONDON (AFX) - FTSE 100 risers

BG Group 740xd up 36-1/2
Talk of 900 pence-a-share bid from Exxon
Compass Group 236-3/4 up 6
Citigroup ups target to 240 pence from 195; Morgan Stanley 'overweight'
J Sainsbury 336 up 9
Sales rise for fifth straight quarter
InterContinental Hotels 922 up 21-1/2
UBS 'buy' from 'neutral' with target upped to 1,130 pence from 930
Marks & Spencer 558 up 8
SG reiterates 'buy' & ups fair value by 15 pct to 554
Next 1,659 up 19
Recent DKW 'buy'
GUS 1,081 up 11
JP Morgan ups target to 1,070 pence from 1,010
Scottish & Southern Energy 1,135 up 1
'Overweight' & switch from Scottish Power - JP Morgan
GlaxoSmithKline 1,517 up 5
UBS 'buy' with 1,700 pence target
Vodafone 122-1/2 up 3
SG 'buy' with 152p fair value

FTSE 100 fallers

Tate & Lyle 576 down 10
EU sugar reform impact; Merrill keeps 'sell'
William Morrison Supermarkets 192-3/4 down 2-1/4
Sainsbury competition threat
ITV 125-1/2 down 1-1/4
Awaiting bid developments
Carnival 2,826 down 14
Ship fire will impact FY earnings
Scottish Power 579-1/2 down 4-1/2
'Underweight' from 'neutral' - JP Morgan
Smith & Nephew 513-1/2 down 1
Credit Suisse cuts estimates

FTSE 250 risers

Hikma Pharmaceutical 412 up 22
FY profits up 9 pct; Merrill reiterates 'buy' with 440 pence target
Invensys 21-1/2 up 1/2
Company agrees funding plan with UK pension fund trustee
Dairy Crest 484-1/2 up 9-3/4
Company sees FY in-line with expectations; Panmure 'buy' with 550p tgt
Barratt Developments 1,094-1/2 up 19-1/2
Upbeat stmnt with H1 results; Bridgewell/Merrill/Williams de Broe positive
Wolverhampton & Dudley Breweries 1,249 up 17
Trading in 24 weeks to March 18 in line; Bridgewell/KBC/Altium positive
Luminar 578-1/4 up 7-1/2
With Wolverhampton & Dudley
Tullow Oil 353 up 4-1/4
Bumper 2005 earnings; Merrill Lynch 'buy'; KBC reiterates 'buy' & ups ests
Woolworths 35-1/2 up 1/2
FY results; KBC Peel Hunt 'buy'
FirstGroup 418-3/4 up 7-1/4
Overall FY trading in line with co expectations; Panmure 'buy' with 480p tgt
Mitchells & Butlers 495-1/2 up 3
KBC Peel Hunt 'buy'

FTSE 250 fallers

Isoft Group 158-1/4 down 18
Accenture takes 450 mln usd charge related to NHS contract
Associated British Ports 716 down 15
Awaiting further bid news
Drax Group 723 down 3
UBS 'reduce' with 455 pence target
Minerva 315 down 5-1/4
Profit-taking
Crest Nicholson 526-1/2 down 7-1/2
Bid hopes fade; 'hold' from 'buy' with 520 pence target - Panmure
Greene King 759 down 4-1/2
'Hold' from 'buy' - Panmure Gordon
EMAP 886-1/2 down 1/2
Goldman Sachs & Lehman cut estimates; Deutsche Bank cuts tgt to 885p

Other risers

Millfield 10.75 up 2.38
Bid approach
Computerland UK 154-1/2 up 18
Upbeat trading statement
Nexus Management 0.67 up 0.07
Product launch
RPC Group 258 up 6
H2 trading broadly in line; Panmure 'buy' & 300p tgt
Macfarlane Group 42-3/4 up 3-1/4
Swing to FY profits disclosed yesterday
Scott Tod 13-1/4 up 3/4
Rally after widening H1 losses
Independent Resources 56 up 3
Positive data from Rivara
Robotic Technology 65-1/2 up 3-1/4
Swing to FY profits; Teather & Greenwood 'buy'
Clarkson 845 up 40-1/2
Record FY profits
SWP Group 72 up 2-1/2
Swing to small profit at half-way mark
Yoomedia 4.87 up 0.37
Convertible loan issue; Seymour Pierce 'buy'
Cashbox 25-1/2
New issue, placed at 20

Other fallers

Fibernet Group 61 down 5-1/4
FY profits warning; Bridgewell 'neutral'; DKW tgts 58p & cuts ests
32Red 146-1/2 down 12-1/2
5.3 mln stg placing at 140 pence
Vislink 56-1/2 down 2-1/2
Profit-taking after swing to FY profits
Telspec 10 down 1/2
Almost doubled FY losses
HR Owen 142-1/2 down 6-1/2
Swing to FY losses
NWD Group 1.39 down 0.08
Profit-taking after yesterday's refinancing news

Midday Market Summary

       LUNCH TIME FUN

End-of-day Market Summary

Ofex CDE was moving higher late this afternoon after losing ground lately

           JOKE OF THE DAY

Which Galaxy Did You Say This Is?
When I went to lunch today, I noticed an old lady
sitting on a park bench sobbing her eyes out.
I stopped and asked her what was wrong.

She said, "I have a 22 year old husband at home.
He makes love to me every morning and then gets up and makes me
pancakes, sausage, fresh fruit and freshly ground coffee."

I said, "Well, then why are you crying?"

She said, "He makes me homemade soup for lunch and my favorite
brownies and then makes love to me for half the afternoon".

I said, "Well, why are you crying?"

She said, "For dinner he makes me a gourmet meal with wine
and my favorite dessert and then makes love to me until 2:00a.m.

I said, "Well, why in the world would you be crying?"

She said, "I can't remember where I live!"

Lovely dress shes wearing :-)))

Or nearly wearing. :-))