LONDON (Thomson Financial) - Leading shares look set to open higher as Wall Street closed firmer yesterday and, with a quiet day expected on the corporate earnings front, investors' attention will be turned to US non-farm payroll due out later today.
Spread bettors IG Index expect the FTSE 100 index to open up 25 points at 5,916 after closing 24.6 points weaker at 5,891.3.
MARKETS
FTSE 100 5,891.3, down 24.6
FTSE 250 10,177.2, down 194.8
DJIA 12,626.03, up 20.2
Nasdaq Comp 2,363.30, up 1.9
S&P 500 1,369.31, up 1.78
Tokyo: Nikkei closes at 13,293.22, down 96.68
Hang Seng closed
Gold 906.75 usd (891.05 usd)
Oil - Brent May 102.52 usd (103.75 usd)
TODAY'S PRESS
* Squeeze on credit poised to intensify; Bank of England's survey reveals crackdown on lending; likelihood of an April interest rate cut grows - FT
* Former UBS chief pushes for bank's break-up - FT
* Bear Stearns says traders' false rumours took bank to brink - Times
* Influential analyst Jim Prevor raises fresh doubts over Tesco's U.S. venture - Times
* Heathrow operator apologises for distress caused by Terminal 5; new BAA boss pledges an 'impeccable service'; British Airways puts cost of debacle at 16 million pounds - FT
* Citigroup merger a 'mistake'; deal mastermind says outcome is a 'sad story'; John Reed cites flaws at managerial level - FT
* BT Group, British Sky Broadcasting and Carphone Warehouse considering offers for the UK arm of Tiscali - FT
* The body that manages most of China's $1,650 billion in foreign exchange reserves buys a 1.6 percent stake in France's Total - FT
* Co-operative Bank, which prides itself on its ethical lending policies, has lost 31.8 million pounds on its investments in so-called structured investment vehicles - FT
* BAE to shed nearly 600 jobs in wake of failed bid for jet contract - Independent
* Car dealers are heading for a crash, report warns - Guardian
PRESS COMMENT
FT
THE LEX COLUMN comments on UBS (UBS should invite Luqman Arnold in for a chat), UK Bank lending (a sharp pull back from unsecured lending over the next few months will be a warning that banks really fear the worst), Nomura (if Nomura cannot get its overseas act together now -- at a time when good bankers and indeed good banks can be picked up on the cheap -- then it probably never will) Recession and markets (with short-term earnings a key driver of share prices, there is plenty of room for disappointment over the coming months) - MARKETS - LONDON: Cadbury Schweppes (slimmed-down confectionery group could be a takeover target once it has completed the demerger of its soft drinks arm - Cazenove), FKI (rumours that counter-bidders are circulating); SMALL CAPS: Wolfson Microelectronics (Garmin forecasts a 50 percent drop in quarterly revenue)
Independent
THE INVESTMENT COLUMN: Marston's (hold for now), Scottish Media Group (cautious hold), Ambrian Capital (hold)
Times
Tempus: Marston's (worth hanging on to), Mothercare (investors may wish to take profits), Afren (buy on weakness) - Rumour of then day: Hampson Industries (talk of a 15 million pounds contract win for its automotive arm) - Deal of the day: Summit Germany (director buys 1.4 million shares at 0.63 euros each)
Express
SHARE WHISPER: Coal International (company received a takeover approach in January; gossips reckon its 34 pct shareholder Cambrian Mining could be lining up a 50 pence-a-share bid)
Merchant House (Its Merchant Capital subsidiary is about to be joined by a team of stockbrokers who apparently come with a good track record)
Telegraph
QUESTOR: Mothercare (buy), Rank (avoid), Afren (buy)
Investors Chronicle
Best new issues: Animalcare, London & Stamford Property, Darwen Holdings, All Leisure Group - TIPS - LARGE COMPANIES: Royal Dutch Shell (sell), Dimension Data (sell), Fenner (buy); TIPS - SMALLER COMPANIES: Begbies Traynor (buy), Nautilus Minerals (buy), Photo-Me (sell); TIPS - UPDATES: Trading Emissions (buy), Invensys (buy), Merorio (buy), Mitchells & Butlers (sell), Stratex (buy), Wolfson Microelectronics (high enough)
FORTHCOMING EVENTS
FRIDAY APR 4
INTERIMS None scheduled
FINALS Direct Wonen NV Elephant Loans Metalrax Group Public Service Properties Investments
AGMs None scheduled
EGMs None scheduled
ECONOMICS No UK data expected
MARKET EXPECTATIONS
* Metalrax Group. Arden Partners forecasts year to December pretax profit 2.0 million pounds vs 6.5 million; final dividend no expected making total 1.65 pence tf.TFN-Europe_newsdesk@thomson.com fjb/hjp COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
