S&P Futures

SHELL  announces further cuts in its oil reserves: For the 3rd time Shell has cut its oil reserves by a further 500 million barrels. It has also announced the resignation of it's Chief Financial Officer Judith Boynton after the huge cuts in oil and gas reserves this year but she will remain with the company. The total effect of the cut in reserves will cost the company approximately 100 million dollars per year.

WH Smith has confirmed Permira, the private U.K. private equity firm, has approached about a possible take over of the company worth 375 pence a share

Spear & Jackson The FSA is probing the CEO regarding making illegal sales of company stock in secret through brokerage accounts in the British Virgin Islands over the last two years

Stagecoach said its annual results would beat market expectations and unveiled plans to return up to 250 million pounds to shareholders.

 Caldwell Investments (F), Cyprotex (F), Minmet (F), Compass Group (I), ITV (AGM), Griffin Group (EGM), Reckitt Benckiser (Trading), Stagecoach (Trading)

08:30 March PPI 17:30 March BRC monthly retail sales monitor

23:30 RICS March housing market survey

Safeco Corp, Eli Lilly, 3M, Cendant, Fannie Mae,Hasbro, Lexmark

15:00 Leading Indicators Mar 0.3%

D

 Caldwell Investments (F), Cyprotex (F), Minmet (F), Compass Group (I),ITV (AGM), Griffin Group (EGM) Reckitt Benckiser (Trading), Stagecoach (Trading)

08:30 March PPI 17:30 March BRC monthly retail sales monitor

23:30 RICS March housing market survey

Safeco Corp, Eli Lilly, 3M, Cendant, Fannie Mae,Hasbro, Lexmark

15:00 Leading Indicators Mar 0.3%

D

ARM Holdings (I), Carr's Milling Industries (I), James R. Knowles (I), Mouchel Parkman (I), CeNeS Pharmaceuticals PLC (F), Gresham Computing PLC (F),

Highland Gold Mining (F), Rugby Estates (F), Tesco (F), ZOO Digital (F)

Brandon Hire (AGM), Dobbies Garden Centres (AGM), Hemscott (AGM), HgCapital Trust (AGM), Management Consulting (AGM), Carpetright (Trading),

Jubilee Investment Trust (EGM), Virtue Broadcasting (EGM)

08:30 March CPI

Black & Decker, General Motors, Pfizer, Mattel, Mellon Financial, Millipore, Safeco, Motorola, Wells Fargo Raytheon, Charles Schwab, US Bancorp Radioshack, Teradyne, Lucent Technologies, Applied Micro Circuits, Sprint,

Pinault-Printemps-Redoute SA, Schneider Electric SA, Valeo SA

Autonomy (F), Colt Telecom (F), Deal Media (F), Reuters (F), Maverick Entertainment (I), NWD (I), Superscape (I)

Anglo American (AGM), British American Tobacco (AGM), Bioprogress (AGM), British Vita (AGM), Domnick Hunter (AGM), Jurys Doyle Hotel (AGM), Low & Bonar (AGM), SBS (AGM), Tribune Trust (AGM), XP Power (AGM), Prudential (Trading)

08:30 BoE Minutes of April 7/8 meeting 08:45 Chancellor Brown Speaks at BCC Conference

Coca-Cola,Ford Motor, Honeywell International, Colgate-Palmolive, Eastman Kodak, Sears Roebuck and, Altera, Bank of New York, Morgan Chase,Chiron, Coca-Cola Enterprises, Dana, General Dynamics, United Technologies, Qualcomm, Starbucks, Capital One Financial

13:30 New mortgage applications

19:00 Fed's Beige Book

Infineon Technologies AG, Sagem,

Remy Cointreau

Ex Dividend: Albemarle & Bond Hldgs 1.15(p), Blue Planet Worldwide Financials IT 0.5(p), Hays 1(p), Informa 4.94(p), Inventive Leisure 0.7(p), Next Fifteen Comms 0.3(p), Swallowfield 2.8(p), Aggreko 3.45(p), BAE Systems 5.5(p), Biotrace International PLC 1.15(p), Bristol & London 2.17(p), Bovis Homes 11.1(p), City North 1.75(p), Estates & General 3.5(p), Fulmar 3.4(p), Future Network 1.25(p), Glanbia 4.94(p), Greggs 54.5(p), Hanson 11.95(p), ITV 1(p), Johnston Press 4(p), Lambert Howarth 7(p), Logica CMG 3.4(p), Management Consulting 0.5(p), Morrison Supermarkets 2.7(p), NSH:Norish 1(p), Old Mutual 3.1(p), Personal Holdings 3(p), Quarto 3.25(p), Slough Estates 9.2(p), Smith & Nephew 3.1(p), Spirax-Sarco Engineering 14.1(p), Travis Perkins 16.8(p), UCM 2.5(p), Univent 0.5(p), The Vitec 16.6(p), Zotefoams 2(p)

Brown & Jackson (F), Hitachi Capital (F), Allied Domecq PLC (I), McCarthy & Stone (I), Smith WH (I)Corus (AGM), George Wimpey (AGM), Abbey National (Trading), Schroeders (AGM), Reuters (AGM)08:30 March prov M4/M4 lending 08:30 March capital issuance 08:30 BBA March net sterling lending 08:30 CML March mortgage lending 08:30 March PSNCR 08:30 BSA March mortgage lending

American Express, AT&T, Caterpillar, Amgen, BellSouth,Edison, Freddie Mac, Kellogg, Kimberly-Clark, MBNA, Merck , Microsoft, Office Depot, Reebok International Limited, Sara Lee, Viacom

13:30 Initial Claims 04/17 - 335K

SAP AG, Comdirect Bank AG

Lafarge SA, Sanofi-Synthelabo

Shell Transport (AGM)08:30 March motor vehicle production 08:30 March retail sales 08:30 Q1 prelimiary GDP estimate

Xerox, R.J. Reynolds Tobacco

13:30 Core PPI Mar 0.1% 13:30 Durable Orders Mar 0.7% 13:30 PPI Mar 0.3%

Provisional Calendar For Equities  The Week Following  19th - 23rd April

Bede (F), Coliseum Group (F), Hansard Group (F), Ocean Wilson (F)Arm Holdings (AGM)

Ferraris Group (I). Game Group (F), Robotic Technology (F), Solitaire Group (F), Westbury (F)Aviva (AGM), Benfield Group (AGM), Finsbury Technology Trust (AGM) HBOS (AGM), Northern Rock (AGM),Personal Group Holdings (AGM), Rank Group (AGM), Royalblue (AGM), Singer and Friedlander (AGM), UK Coal (AGM)

Imperial Tobacco (I), European Motor Holdings (F)Countrywide Assured (EGM), Entertainment Rights (EGM), Xaar (AGM), Aggreko (AGM), Atlantic Global (AGM), Estates and General (AGM), Harrier Group (AGM), Henderson High Income (AGM), Kidde (AGM), Legal & General (AGM), Reed Elsevier (AGM),Tarsus Group (AGM), Travis Perkins (AGM), Wilson Bowden (AGM), Wyevale Garden Centres (AGM)

Ex Dividend: BDEV Barratt Developments 6.9(p), James Halstead 6(p), McBride 1.2(p), PM Group 1(p), AGA Foodservice Group 5(p), Balfour Beatty 3.4(p), Belgravium Technologies 0.3(p), Cadbury Schweppes 8.35(p), Candover Investments 26.5(p), Carillion 3.48(p), Centrica 3.7(p), Cox Insurance Holdings 1(p), 4imprint Group 3(p), GKN 7.8(p), Gowrings 1(p), Holders Technology 2.5(p), Highcroft Investments 7.25(p), International Energy Group 3.6(p), Irish Life & Permanent 28.37(p), James Halstead 6(p), Kidde 1.81(p), Kiln 0.4(p), Kerry Group 6.78(p), Litho Supplies 1.75(p), Marlborough Stirling 0.5(p), Mayborn Group 4.3(p), Mersey Docks & Harbour Company 16(p), Maiden Group, 4(p), Northern Rock 15.8(p), Novar 6.6(p), Peterhouse Group 4(p), PSD Group 3(p), Reed Elsevier 8.7(p), RMC Group 21.8(p), Rutland Trust 0.8(p), Singer & Friedlander 26(p), Senior 1.35(p), Systems Union Group 1(p), Thompson Clive Investments 7.83(p), Torday & Carlisle 1(p), TDG 8.75(p), Telemetrix PLC 2.15(p), TOMK Tomkins 7.4(p), Tesco, Weir Group 9.05(p), Wilson Bowden 25.5(p), Xstrata 13(p)

Proactive Sports (I), Punch Taverns (I), Body Shop (F), Sportingbet (F), Surgical Innovations (F)Alvis (AGM), Barclays (AGM), RMC (AGM), Scottish and Newcastle (AGM),Tikit (AGM), Zotefoams (AGM)

Pearson (AGM), TF & JH Braime (AGM)

Trading Thoughts For The Week Ahead   Sunday 18th April

In the U.S. next week we have a flood of corporate earnings with 178 of the S&P 500 companies set to issue quarterly figures. This could go a positive boost to the World markets as so far more than 75% of results have beaten expectations with only 10% falling short. Highlights will come from Motorola, Lucent Technologies, eBay, Microsoft, Pfizer, American Express, J.P. Morgan & Coca-Cola. In the U.K highlights will come from Tesco, ARM Holdings, Autonomy, WH Smith & Reuters MondayITV holds its AGM and will update on how well the advertising recovery is doing. The Royal Institution of Chartered Surveyors updates on the housing market after saying last month that first time buyers are being squeezed out of the markets by buy to-let purchases.

Tuesday

Tesco's tills should be ringing with an expected profit increase of 22% over last years figures. Look for profits of 1.6 billion following a 15% rise in sales growth over Christmas. The market will be interested to find out its plans for the 1.5bn cash it raised in a share placing and leaseback deals. ARM Holdings are expected to show a rise of 16% to $57m benefiting from royalty revenue during the four months to March

Wednesday

Reuters looks set to report a 9% drop in first-quarter core subscription revenues. The company said in February that it does not expect a pickup in revenue until next year. Reuters also holds its AGM on ThursdayAutonomy release first-quarter results after it reported a recovery in activity in all its business areas in the three months to December.The Bank of England releases the minutes for the Monetary Policy Committee meeting earlier this month U.S. new mortgage applications from the Mortgage Bankers Association, Higher rates have led to a fall in new applications for the last four weeks. The Fed issues its "beige book" report where the central bank's releases its view on the U.S. economy and clues to the direction of interest rates. All the good news boosting the DOW will probably be reversed after Alan Greenspan testifies on the U.S. economy

Thursday

WH Smith issued a profit warning in January will be lucky to report flat first-half sales and margins. This is partly due to the encroachment on its stationery lines by cut price retailers such as Asda and Tesco. However it has just been reported that Permira may bid 700m for the companyAllied Domecq should report strong half year sales of its core spirits brands which should offset weakness from its Spanish wine sales. It has also been restructuring its Dunkin Donuts which should lift margins & profits from its food division.Brown & Jackson are not expected to report a profit for the year following poor Christmas sales.U.S weekly jobless claims after last months strong gains are expected to slip to 340,000 from 360,000

Friday

An update on retail sales in March could be key to next month's BoE interest rate decision following rising levels of personal debt and the surging housing market U.S Durable goods should show that orders for manufactured goods rose 0.8 percent in March following a 2.5 percent gain.

Thoughts

The market's are still looking very strong with the 10 day and 12 month charts both positive. The 10 day chart shows the FTSE rising at 4537 with support at 4512 and ceiling at 4560 over the next few days. It also show how the trackers such as Lloyds are following the FTSE. Currently the bank is a possible BUY with it trading towards the bottom of its range at 415p and good 10% rise on the cards.

The FTSE 1 year chart is shows that the index has been peaking every 60 days with the rise consistently being at the same angle. If this pattern is maintained the FTSE should reach 4625 within the next 2 weeks!

As always I look forward to your thoughts and comments on the week ahead! 

All the above comments are purely a personal opinion and no investment advice is intended.  Please do your own research.

Sunday Newspapers 

Marks & Spencer's disastrous trading results have prompted prospective bidders to start circling the troubled retail chain, The Business newspaper reports.

WH Smith the troubled business is understood to be the target of a takeover move by Permira, the private-equity group known for investments in retailers such as New Look and Homebase, reports the Sunday Times. It has confirmed it is to axe 300 jobs.

UK Economic growth to top 3%, Figures to be released this week will confirm that the British economy continues to recover, despite the continuing stagnation of European economies, according to The Business newspaper. WH SmithTESCO has taken the increasingly hostile supermarket price war to new levels as it unveiled price cuts worth 70 million across a full range of products. Fears that the UK property market is developing a dangerous pricing bubble and buyers are ignoring rate rises will be reinforced this week with the publication of three reports showing that house prices are booming again, the Observer reports.

SUNDAY TIMES GKN may bid $3bn for Boeing factories Shell finance chiefs role in doubt Unilever, Birds Eye whips the Captain into shape BAE Systems. Air tanker deal in jeopardy WH Smith, Permira plots 700m swoop on WH Smith Allied Domecq, Showing them whos boss

Stumbling Merrion still a safe bet, Eircom Corus Group, Why you should buy the top shares - and then sell them Corus Group : City grandees take on the boardroom bullies Allied Domecq, Sir Gerry Robinson's working day Sharewatch:Babcock International

Working Space, Allied Domecq

A reward from Abbey will not make you richer M&S chief comes under pressure as takings fall again Should you buy shares in Manchester United? Keeping on track, FirstGroup Vital Statistics: Allied Domecq BSkyB Freeview makes inroads into Irish digital TV with UK boxes Directors' Deals: Rentokil boss cleans up in 9m sale Allied Domecq, Robinson can still show them whos boss Sharewatch: Peterhouse Group Footsie hits a five-week high, Burren Energy Allied Domecq, City grandees take on the boardroom bullies  

Marks & Spencer, Uh oh, Vittorio! M&S launches counter offensive M&S investors should quake

The battle for Baltimore WH Smith faces bid 27m offer for Canary Wharf warrants

MAIL ON SUNDAY Shell finance chief faces axe, Lawyer negotiates a 1m pay-off Equitable not to sue regulators, Compensation hopes dashed Tesco rules with 1.6bn profit WH Smith targeted for takeover, Permira wants to take the reins SNCF in daring Eurotunnel move

Bidders shop for Marks & Spencer, Prospective buyers line up Iceland stores rocked by sales slump, Easter profits worse than first thought Shell's Boynton named in lawsuit Cadbury in 'tainted' deal row, Facing lawsuit over schools contract

INDEPENDENT Usmanov threat to Corus chief Swann to cut 300 jobs in head office cull at ailing WH Smith Investors hand May deadline to M&S boss

After the Easter eggs, the City is ready for a feast at Tesco M&S - put a knitter in charge of the knitting

SCOTLAND ON SUNDAY Environmental awareness is dish of the day for BSkyB HBOS Intelligent Finance boss keen on foreign expansion Tesco on course for record profits, as price war ignites Anglo American Seize the initiative in improving communication UA Group to cash in with 65m sale of Stirling land 3i downgrade misses 'mini-boom' British Energy moves HQ for second time in four years

Lloyds TSB, Going to bat for Scottish Cricket

Celtic Old Firm's goal is to promote safe drinking Philip Green may be tempted to bid for troubled M&S Group Allied Domecq looks set to be in high spirits as profits rise to 270m Market wary as WHSmith set to announce slump in profits ITV Dyke rumours to be answered

INVESTORS CHRONICLE Six of the best AIM newcomers: RAB Capital (RAB) - Moneybox (ATM) - Torex Retail (TRX) - Offshore Hydrocarbon Mapping (OHM) - European Nickel (ENK) - Omega International (OME).Income Shares Feature: Shell (SHEL) - BAT's (BAT) - Diageo (DGE) - T Clarke (CTO) - Bradford & Bingley (BB).Tips: Buy Royal Bank of Scotland (RBS) at 16.88 - SHL (SHL) at 107p - Hyder Consulting (HYC) at 127p - Bisichi Mining (BISI) at 104.5p - Corpora (CP) at 39.5p. Sell Reuters (RTR) at 401p.Updates: Buy Surfcontrol (SRF), BAA (BAA) and Top Ten Holdings (TTH).Sell Reliance Security (RSG).Company Results:Buy AB Foods (ABF).

SHARES MAGAZINE Running recommendations - 4Imprint (FOUR), WSP (WSP), Pennant International (PEN), DDD (DDD), BioProgress (BPRG), Dimension Data (DDT), Premier Direct (PDR), Abbeycrest (ACR), Berkeley Berry Birch (BBB), Jubilee Platinum (JLP), CMS Webview (CWV), Clarkson (CKN).The Analysis Section: Lok'N'Store (LOK) vs. Big Yellow (BYG) and Mentmore (MEN).The Small Shares Section: Buy International Brand Licensing (IBL) at 27.5p.

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