JUST STOCK NEWS

[asp42001]

Microsoft Dot Net Connection Since 2005

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[jbrooks4002]

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[Raggedy Man]

PDOS: IM Global and Platinum Studios, Inc Partner to Bring 'Hero By Night' to TV
Friday November 14, 9:00 am ET
Comic Book Series won the 2006 Comic Book Challenge(R)

LOS ANGELES, Nov. 14 /PRNewswire-FirstCall/ -- IM Global a worldwide financing, sales and distribution outfit for big-budget genre movies and specialty films and Platinum Studios, Inc. (OTC Bulletin Board: PDOS - News), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media, announced today that they will develop a live action television series based on the Comic Book Challenge® winner "Hero By Night".

Under the agreement, IM Global will handle worldwide distribution for the project and will produce Hero By Night through their IM Global Television banner run by television veteran Gavin Reardon, who brokered the deal along with the Rigberg Entertainment Group.

Hero By Night, created by 2006 Comic Book Challenge® winner, DJ Coffman, tells the story of young landlord, Jack King, who uncovers the lair of the legendary Hero by Night. Determined to make a little extra cash, Jack auctions the Hero's journal on eBay. His plans backfire when he attracts the attention of Hero by Night's old arch-enemy. Jack must now embrace a buried legacy to stop a madman from completing his diabolical schemes.

Platinum Studios' Chairman and CEO Scott Mitchell Rosenberg and IM Global's Stuart Ford and Gavin Reardon are set to executive produce the series along with Rigberg Entertainment Group's Glenn Rigberg. Platinum Studios' vice president of Film and TV Rich Marincic will co-produce and former Universal Pictures' senior executive, Randy Greenberg, of The Greenberg Group, who negotiated the deal, would co-executive produce.

"We are very happy to be working with Stuart and IM Global -- Stuart is one of those rare entertainment executives who has a keen understanding of the business of entertainment and what makes for compelling entertainment," said Rosenberg. "Hero By Night is a wonderful young adult weekly adventure series."

"Hero By Night provides a wonderful opportunity to make action-adventure wish-fulfillment weekly television," said Ford. "Platinum Studios' depth of story and characters is unparalleled and presents a fantastic opportunity for IM Global and we are pleased to be working on this project with them."

About Platinum Studios, Inc. (http://www.platinumstudios.com)

Platinum Studios (OTCBB: PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, tv, online, mobile/wireless, gaming, and merchandising. Platinum Studios' library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as Drunk Duck (www.DrunkDuck.com), the industry's preeminent webcomics community and Wowio (www.wowio.com), the world's leading e-book distributor. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms.

About IM Global (www.imglobalfilms.com)

IM Global is a major international sales and distribution company headed by CEO Stuart Ford. IM Global's current slate of theatrical films includes SHELTER starring Julianne Moore and Jonathan Rhys Meyers; A SINGLE MAN starring Colin Firth, Julianne Moore, and Matthew Goode; BUNRAKU, starring Josh Hartnett, Demi Moore, Woody Harrelson and Ron Perlman; RELIGULOUS, from Larry Charles, the director of Borat; and Oren Peli's acclaimed supernatural chiller PARANORMAL ACTIVITY; In 2007, IM Global created IM Global Home Entertainment, headed by former Showtime executive Catherine Quantschnigg, and and IM Global Television headed by industry veteran Gavin Reardon.

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward- looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.

[SmokingUSA]

Reports: Chrysler, GM discuss merger, acquisition
20 minutes ago
http://news.yahoo.com/s/ap/20081011/ap_on_bi_ge/gm_chrysler_merger_talks DETROIT - Published reports say General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM.



The Wall Street Journal, citing people it described as familiar with the discussions, says Cerberus Capital Management, the private equity firm that owns 80.1 percent of Chrysler and 51 percent of GMAC Financial Services, proposed trading Chrysler's automotive operations to GM. The Journal says Cerberus would receive GM's remaining 49 percent stake in GMAC.

The New York Times, also citing people familiar with the talks, says the automakers were discussing a merger. The Times did not mention GMAC, a traditional auto lender hit hard by the housing market downturn.

Messages seeking comment left with GM and Chrylser by the The Associated Press were not immediately returned late Friday.


Disclaimer-my stocks are per the advice of my lucky eight ball, please seek your own professional consultant ......................................
"If you cannot treat your quest to get rich as a game, you will never be rich" (Felix Dennis)
-----------

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
07 Aug 2008 09:58:53




London

London shares open down, hit by weak earnings news, ahead of BoE meeting

LONDON - Leading shares opened lower Thursday, shrugging off another session of gains on Wall Street, as earnings news from a number of blue-chips disappointed the market, while investors remained cautious ahead of the Bank of England interest rate decision.

At 8:54 a.m., the FTSE 100 index was down 12.8 points at 5,473.3, having closed up 31.6 points at 5,486.1 Wednesday, while the FTSE 250 index lost 57.7 points at 9,073.8.

U.S. stocks managed to reverse earlier losses to close moderately higher overnight, as a drop in oil prices and a better-than-expected profit report from technology bellwether Cisco Systems helped offset fears of bad home loans after mortgage financier Freddie Mac reported a larger-than-expected second quarter loss.

The Dow Jones Industrial Average closed 40.3 points firmer at 11,656.1, while the technology-laden Nasdaq Composite index added 28.54 at 2,378.37 and the S&P 500 index ticked up 4.31 at 1,289.19.

Hong Kong shares were also buoyant Thursday, with the Hang Seng up 129.76 points at 22,079.51 by midday, but Japanese shares closed down amid profit-taking after the previous session's rally. Tokyo's Nikkei 225 index lost 129.90 points at 13,124.99.

Oil prices were back on the up in Asian deals, rising $0.26 per barrel to $118.84 at last check, having eased off in U.S. trade after the government reported a jump in domestic inventories. Oil is now down about $30 from its record high of $147.27 reached July 11.

The MPC is widely expected to keep interest rates on hold at 5 percent as they continue to grapple with the twin evils of soaring inflation and a flagging economy.

The European Central Bank is also expected to leave its refinancing rate unchanged at 4.25 percent today.


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On the corporate front, Friends Provident was the main blue-chip casualty in early deals, down 5.5 percent, or 5 pence, at 86.7, after the insurer posted a 20 percent drop in first-half profit -- at the low end of expectations -- to 211 million pounds.

Cazenove said the shortfall reflects the slightly lower than consensus F&C Asset Management result and a deterioration in protection margins. Peer Standard Life slipped 7-1/4 pence at 236 in sympathy. Sticking with financials, banks were under pressure after Barclays reported a 33 percent drop in first half profits, in line with expectations, as it took a 2 billion pound writedown on the value of risky assets.

But profits at the bank's Barclays Capital business fell 68 percent to 524 million pounds, and Barclays Capital CEO said he sees challenging conditions lasting throughout 2008.

Barclays was 6 weaker at 363 following the results, while Lloyds TSB eased 3-1/2 at 310-3/4, Royal Bank of Scotland was off 1-1/2 at 232-3/4 and HSBC dipped 5 at 846-1/4.

International Power also fell back following the release of its interim figures, which revealed plant outages going forward.

The UK power generator posted a 19 percent rise in first half operating profit, but said second half operating profit is expected to be dented by 45 million pounds because of an extended outage at the company's Rugeley plant in the UK.

International Power shares lost 24-1/4 pence at 396-3/4. And Hammerson was out of favour after its own figures showed the retail REIT swung to a pretax loss in the first half. In reaction, Citigroup said the results contain some of the same worrying issues seen in Liberty International's numbers, released on Wednesday.

Hammerson slipped 34-1/2 lower at 954-1/2, while Liberty followed, also down 34-1/2 at 865-1/2, and British Land also felt the pinch, sliding 17 at 720.

Not all results led to share price declines, however. RSA Insurance Group added 1.4 pence at 140.6 after the commercial insurer posted a better-than-expected 9 percent increase in first-half operating profit to 440 million pounds.


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And Cobham gained 2 at 219-1/4 after also reporting numbers that came in ahead of market forecasts, with underlying first-half profit up 24 percent to 107 million pounds. The aerospace group said it expects to perform slightly ahead of its growth targets in 2008.

Away from earnings news, oil heavyweights ticked up on the back of rising crude prices, with BP 7-3/4 higher at 528-3/4, Royal Dutch Shell taking on 9 at 1,786 and BG Group up 15 at 1,085.

Moving to the second line, Debenhams and Mothercare bucked the blue-chip trend for retailer strength in early deals, dropping 2-3/4 at 54-3/4 and 2-1/4 at 397-3/4 respectively, after Altium Securities downgraded the two while also cutting its recommendation on small-cap JJB Sports.

Altium cut Debenhams to 'hold' from 'buy' and downgraded its trading recommendation to 'neutral' from 'buy', and reduced Mothercare to 'sell' from 'hold' while reducing its trading recommendation to 'sell' from 'neutral', on valuation grounds.

Among mid-cap risers, Aquarius Platinum jumped up 22-3/4 at 474-1/4 following its full-year results and with the stock also riding on the back of sector consolidation hopes after Lonmin rejected a $10 billion unsecured bid from Xstrata Wednesday.

Aquarius today said it is "on a strong footing to recover from the production set-backs of 2008 and pick up again with the march for value driven growth in the new financial year", and hiked up its total dividend by 43 percent to $0.20.

On the broker front, Dana Petroleum rose 45 at 1,322, helped by Goldman Sachs upgrading its recommendation to 'buy' from 'neutral' as it reviewed its exploration and production coverage. And Interserve was lifted 9 at 385 after UBS upgraded the stock to 'buy' from 'neutral' and reiterated its target at 500 pence, saying the shares look oversold.


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Forex

Forex - Euro firms ahead of ECB rate decision

LONDON - The euro was higher ahead of the European Central Bank's interest rate decision, supported by figures showing a bumper German trade surplus and anticipation the bank may release a fairly hawkish statement to accompany its decision.

The ECB is widely expected to leave rates at 4.25 percent, but analysts believe that president Jean-Claude Trichet will continue to issue a firm warning about the threat of rising inflation despite the recent evidence that the 15-nation single currency zone is entering an economic slowdown.

"Whilst very weak euro zone data continues to signal problems ahead for the GDP outlook the Bank's sole focus on inflation implies that it will be difficult for Trichet to alter his rhetoric too much without risking undermining his credibility," said Stuart Bennett, currency strategist at Calyon.

However there was one piece of good news this morning for the ECB after figures showed Germany's trade surplus surged to 18.1 million euros in June, supported by a strong month-on-month rise in exports.

"The euro has rebounded as traders laud the bumper German trade surplus and anticipate the possibility of a hawkish message accompanying the ECB's rate decision later in the session," said Gary Thomson, head of sales trading at CMC Markets.

At 0730 GMT the euro was trading at $1.5451 compared to $1.5429 at 0400 GMT. Against the pound the euro had climbed to 0.7933 pence compared to 0.7921 pence at 0400 GMT.

Meanwhile the pound was steady ahead of the Bank of England's interest rate announcement at midday, with economists unanimously forecasting the Monetary Policy Committee will leave interest rates on hold at 5.00 percent.

The latest data on the UK economy, including the service sector PMI surveys and the Nationwide consumer confidence figures, both came in on the downside but inflation remains at an elevated level. "Today's BoE rate announcement will be a non-event as the Bank is forced to keep rates high in order to fight inflation," said analysts at BNP Paribas.

However sterling may come under pressure ahead of the decision when the UK's largest mortgage lender HBOS releases its monthly house price index. Analysts expect the index to register a 1.4 percent month-on-month fall during July, meaning prices will be 8.6 percent lower than a year earlier.

At 0731 GMT the pound was trading at $1.9488 compared to $1.9475 at 0400 GMT.


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Frankfurt

German shares TFN market data at 10:24 a.m.

DAX up 26.43 points, or 0.40 percent, at 6,587.82
MDAX up 91.49 points, or 1.10 percent, at 8,407.91
TecDAX up 2.31 points, or 0.30 percent, at 775.96
DAX futures down 8.00 points, or 0.12 percent, at 6,620.00

MAJOR GAINERS
ThyssenKrupp, up 0.81 euros, or 2.27 percent, at 36.51 Commerzbank, up 0.48 euros, or 2.20 percent, at 22.10, after HSBC raised its price target for the bank to 33 euros per share from 32 and reiterated its
'overweight' rating

Deutsche Telekom, up 0.210 euros, or 1.85 percent, at 11.565, after the telecom giant released second-quarter numbers, which analysts and traders said were largely in line with market expectations and it reiterated its 2008 outlook

MAN, up 1.20 euros, or 1.83 percent, at 66.71
RWE, up 1.01 euros, or 1.33 percent, at 76.69

MAJOR DECLINERS
Adidas, down 0.71 euros, or 1.63 percent, at 42.92, correcting from recent gains. Munich Re, down 1.51 euros, or 1.34 percent, at 111.42, after Citigroup lowered its target to 122 euros per share from 140

Allianz, down 1.44 euros, or 1.27 percent at 111.54, after the insurer said it is abandoning its 2009 profit target because of difficult markets as it delivered slightly better-than-expected quarterly results

Lufthansa, down 0.16 euros, or 1.02 percent, at 111.54, after the airline said around 360 flights were cancelled Thursday as a result of a 36-hour strike launched by pilots at the company's regional unit CityLine.

EON, down 0.38 euros, or 0.94 percent at 40.43, under pressure from easing oil prices and Credit Suisse cut it rating on the European utilities sector to 'market weight' from 'equal weight'

OTHER STOCKS IN THE NEWS
MDAX-listed GAGFAH, up 0.49 euros, or 4.95 percent, at 10.39, after the real-estate company reported inline figures but reiterated its full-year guidance

MDAX-listed Altana, down 0.10 euros, or 0.96 percent, at 10.30, after the company reported second-quarter results that missed analyst expectations and cut its full-year guidance, citing sliding economic growth

TecDAX-listed Aixtron, up 0.41 euros, or 6.93 percent, at 6.33, after the semiconductor tools company reported solid second-quarter results, which should a consensus-beating bottom line


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Milan

Milan shares TFN market data at 10:12 a.m.; Saipem, oils higher; insurers down

Main indices:
Mibtel up 1.00 percent at 22,388 points
S&P/Mib up 1.03 percent at 29,313 points

Main S&P/Mib gainers:
Geox up 3.10 percent at 7.81 euros Saipem up 2.34 percent at 24.05 euros, after Cazenove upgraded the stock to 'outperform' from 'in-line', saying that after strong quarterly results the full-year consensus forecasts for the oilfield services company look achievable

Enel up 1.72 percent at 6.38 euros

Tenaris up 1.65 percent at 19.48 euros, after second-quarter EPS rose 99 percent to $0.84 and with oil-sector shares supported by stronger crude prices. Eni up 1.51 percent at 21.53 euros

Main S&P/Mib losers:
Fondiaria-SAI down 2.07 percent at 20.83 euros, as insurance sector stocks were sold after German group Allianz warned that it would not reach its 2008 profits target

Mondadori down 1.04 percent at 4.03 euros, in a weak media sector L'Espresso down 0.72 percent at 1.64 euros Lottomatica down 0.52 percent at 21.01 euros Alleanza down 0.53 percent at 6.55 euros

Other stocks in the news:
Saras up 3.47 percent at 3.11 euros, after first-half results beat analysts' expectations, a dealer said

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
01 Aug 2008 09:44:32



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London

London shares open weaker after DJIA overnight drop; U.S. jobs report key

At 9:14 a.m., the FTSE 100 index was 26.8 points weaker at 5,385.1, after closing 8.8 points lower Thursday at 5,411.9. The FTSE 250 index was down 27.8 points at 8,828.9.

Overnight on Wall Street, the DJIA closed 205.67 points weaker at 11,378.02, while the broader S&P 500 index fell 16.88 points to 1,267.38, and the Nasdaq Composite lost 4.17 points at 2,325.55.

Asian markets were also lower today, with Japan's Nikkei 225 index closing down 282.22 points at 13,094.59, while Hong Kong's Hang Seng ended 131.50 points lower at 22,862.60

Meanwhile oil prices in Asian trade fell further back towards $123 a barrel on Friday, as sluggish U.S. economic data prompted fund selling on fears of eroding demand in the world's top energy user.

All eyes Friday will be on the release of key U.S. July payroll numbers. This month the U.S. economy is expected to have lost 72,000 jobs, following a 62,000 cut in June, with the unemployment rate expected to have increased to 5.6 per cent in July, up from 5.5 per cent in June.

U.S. average hourly earnings are expected to have increased by 0.3 per cent in July, the same rate of change as the previous month.

In other U.S. data due Friday, North American construction spending is expected to have dipped by 0.4 per cent, the same decline as the previous month. And the U.S. Institute of Supply Management's Manufacturing index is expected to have dipped to 49.2 from 50.2.

In London, on the corporate front, British Energy shares topped the FTSE 100 fallers board, down 5 percent in value with a 36-1/2 pence drop to 693 after the firm said it had not agreed a takeover agreement with an unidentified suitor, which sources familiar with the matter have said is France's EDF.


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The UK company, which owns eight active power stations in the UK, did not say that discussions were at an end but added there was no certainty an offer would be made. Earlier EDF revealed in a statement released overnight that conditions allowing for a "major development" in the UK were "not met".

The French company made no reference to British Energy but had been widely expected to announce a bid for its UK peer on Friday morning when it released H1 results.

The main drag, however, on blue chip sentiment early Friday was a further drop back by mining stocks as commodity prices retreated once more, with Kazakhmys losing 50 pence at 1,449, Vedanta shedding 62 pence at 1,956, BHP Billiton down 50 pence at 1,643, and Rio Tinto off 147 pence at 5,193.

Elsewhere among the blue chip fallers, Centrica dropped back after Thursday's results, losing 9-1./2 pence at 305-1/4 with JP Morgan downgrading its rating to 'neutral from 'overweight'.

Meanwhile Unilever shares shed 32 pence at 1,356 after ING downgraded its stance on the group's Dutch-listed stock to 'hold' from 'buy' and lowered its price target to 20 euros from 22 as it fears a tough second-half of the year following the firm's second-quarter results on Thursday.

And British Airways shares dipped 3 pence lower to 252-1/4 following a first-quarter trading update today, with Panmure Gordon saying the results were towards the bottom end of forecasts. BA saw its pretax profit for the three months to the end of June fell to 37 million pounds, compared with 298 million pounds in the same period last year.

But on the upside after results Friday, shares in BAE Systems added 3-3/4 pence at 453-1/4 after Europe's biggest defence company posted a 26 percent rise in first-half earnings on Friday and said its full-year results would benefit from strong demand for armoured wheeled vehicles.

Meanwhile Alliance & Leicester shares firmed 0-1/4 pence at 340-3/4 as investors assessed an expected drop in first-half profits after treasury losses of 143 million pounds and higher funding costs.


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The UK's seventh-biggest bank reported core operating profit for the six months to June 30 of 22 million pounds, down from 295 million pounds in the same period last year. Stripping away impairment charges and funding costs, the bank reported a core operating profit of 301 million pounds.

The bank has agreed to a 317 pence per share takeover from Spain's Banco Santander, the owner of Abbey National, with the transaction expected to complete in October 2008.

Among other banking blue chips, HBOS shares gained 6-3/4 pence at 297-1/4 in a further reaction to Thursday's first-half results which saw write-downs at the group come in less than expected.

Kingfisher was the top FTSE 100 gainer, however, up 5 pence to 123.4 Kingfisher, Europe's biggest home improvement retailer, said Friday, it has moved to cut its 1.5 billion pounds debt burden by agreeing to sell its 31-store Castorama Italy business to Groupe Adeo SA, the privately owned French DIY group, for 560 million euros.

In reaction, Landsbanki said it looked a very good price for a business where recent sales trends have been weak.

On the second line, Trinity Mirror was the top performer, rallying 8-1/4 pence higher at 94-1/2 after both Morgan Stanley and Merrill Lynch raised ratings for the newspaper group.

On the downside, GKN was the biggest mid cap casualty, losing 11 pence at 202-1/4 as the automotive components group fell back in sympathy with sharp falls by European carmakers following bad news from the sector overnight from BMW and for U.S. giant General Motors.


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Milan

Milan shares TFN market data at 9:37 a.m.; Luxottica, Fiat lead decline; Enel up

Main indices:

Mibtel down 0.54 percent to 21,657 points
S&P/Mib down 0.51 percent to 28,187 points

Main S&P/Mib losers:

Luxottica down 2.86 percent at 15.28 euros, after Cheuvreux downgraded the eyewear company to 'underperform' from 'outperform' following the release of its first-half results on Thursday

Fiat down 2.34 percent at 10.88 euros
Buzzi Unicem down 2.05 percent at 13.31 euros

Eni down 1.47 percent at 21.42 euros. Credit Suisse reduced its target on the oil firm to 30 euro from 31.30 euro and kept its 'neutral' rating

Tenaris down 1.29 percent at 19.34 euros

Main S&P/Mib gainers:

Lottomatica up 1.59 percent at 20.41 euros, after higher-than-expected results on Thursday Enel up 1.43 percent at 6.03 euros, after the energy company released an above-consensus set of first-half results earlier on Friday

BPMS up 1.09 percent at 1.85 euros BPM up 0.70 percent at 6.50 euros, helped by an upgrade to 'buy' from 'hold' by Deutsche Bank in a review on Italian banks Terna up 0.30 percent at at 2.68 euros


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Vienna

Vienna shares TFN market data at 10:00 a.m.

Main Indices

ATX down 0.55 percent or 20.11 points at 3,639.63
ATX Prime down 0.45 percent or 7.67 points at 1,704.12

Main Losers

OMV down 2.48 percent at 43.30 euros, as oil prices drop around $3/bbl
EVN down 2.39 percent at 20.46 euros

Intercell down 1.88 percent at 31.90 euros, on profit-taking Schoeller Bleckmann Oilfield down 1.69 percent at 58.15 euros

Wienerberger down 0.92 percent at 17.14 euros, inline with construction sector movement voestalpine down 0.71 percent at 42.05 euros, on profit-taking

Main Gainers

Andritz up 2.96 percent at 39.64 euros, on inline second quarter earnings, reiterated full year sales outlook

RHI up 0.72 percent at 30.97 euros, after target upped to 39 euros from 35 at Deutsche Bank, 'buy' maintained

Zumtobel up 0.95 percent at 11.63 euros, on bargain-hunting

Verbund up 0.76 percent at 51.51 euros


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Amsterdam

Amsterdam shares TFN market data at 9.48 a.m. - lower, but Ahold bucks trend

MAJOR INDICES

AEX 396.08 points, down 3.87 points or 0.97 percent
AMX 545.81 points, down 0.62 points or 0.11 percent
Government bonds higher

MAJOR DECLINERS

kzoNobel down 2.38 percent at 36.03 euros Unilever down 2.09 percent at 17.37 euros; cut to 'hold' at both ING and SNS after second-quarter results on Thursday ArcelorMittal down 1.69 percent at 56.27 euros SBM Offshore down 1.66 percent at 14.19 euros; cut to 'hold' from 'buy' at ING

ASMI down 1.01 percent at 17.56 euros; reported 24 percent fall in second-quarter net profit, made no comment on joint bid for Front-end business from Applied Materials AMG down 1.85 percent at 52.01 euros Vopak down 0.26 percent at 38.46 euros; joint venture acquires 2 terminals in Japan

MAJOR GAINERS

Ahold up 5.87 percent at 7.76 euros; allays fears as it reports better-than-expected second-quarter sales Randstad up 0.82 percent at 18.38 euros Reed Elsevier up 0.66 percent at 10.72 euros; extends Thursday's gains Imtech up 2.66 percent at 14.67 euros; wins industrial orders worth 88 million euros in the Netherlands

Nutreco up 0.94 percent at 42.80 euros; ING ups price target to 41 euros from, 40, keeps 'hold' rating. Rabo keeps 'buy' rating and 59 euros price target after first-half results on Thursday Fugro up 0.39 percent at 45.94 euros; acquires companies in India and Australia for undisclosed sum

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
29 Jul 2008 09:43:12


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London

London shares lower in early trade after Wall Street slump

At 8:59 a.m., the FTSE 100 was down 11.3 points lower at 5,301.3, having been down as much as 51.2 earlier in the session. On Monday, the FTSE 100 fell 40 points to close at 5,312.6. The FTSE 250 was down 101.6 points at 8,615.1.

In the United States on Monday, Wall Street again surrendered to investors' anxiety about the financial sector, sending the Dow Jones industrials back into bear market territory.

Financials that had rallied in recent weeks after logging huge declines suffered from the same worries about souring debt that caused an abrupt end to their run-up late last week. Wall Street is concerned a further withering of the housing and credit markets will damage bank balance sheets.

The Dow Jones Industrial Average fell 239.61, or 2.11 percent, to 11,131.08. Broader stock indicators also declined. The Nasdaq composite index also fell into bear market territory, shedding 46.31, or 2 percent, to 2,264.22. The Standard & Poor's 500 index, has been in bear territory for the past few weeks, declined 23.39, or 1.86 percent, to 1,234.37.

The downbeat mood continued in Asia this morning. Japan's Nikkei 225 Stock Average ended the day down 194.33 points, or 1.5 percent, at 13,159.45. Hong Kong's Hang Seng Index ended its morning session down 537.89 points, or 2.4 percent, at 22,149.32.

Back in the United Kingdom, banks were the biggest losers, following the trend set in tbe United States on Monday, when several heavyweights fell back, including Citigroup, down 7.5 percent on the day.

The declines for UK banks came despite HSBC raising its target for several of them. HSBC pointed to the weakness of the shares in the sector. It said the capital raising was nearly done.


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It upped its target on Royal Bank of Scotland to 260 pence, from 240, and retained its 'overweight' rating. It said the groups exposure to the mortgage market is minimal, adding that what really matters is the health of the corporate sector and, with the exception the housebuilding sector, this has held up reasonably well so far. It reiterated its 'underweight' on Barclays, while raising its target to 310 pence, from 270.

Barclays fell 23-1/2 pence to 315-1/4; HBOS was down 15-1/2 at 272, and Royal Bank of Scotland was down 11.65 at 194.6.

On the upside, index heavyweight BP was the top riser, up 11-1/2 at 531, after the company reported increased profits in the second quarter, buoyed by strong oil and gas prices.

Clean net profit, which strips out non-operating items, for the quarter to June rose to $8.628 billion from $5.515 billion, ahead of the consensus figure of $7.6 billion and forecast range of between $7.0 billion and $8.2 billion.

Production was 3.830 million barrels of oil equivalent per day, up from 3.804 million a year ago. Cazenove kept its 'outperform' on BP shares, noting "another unexpected quarterly dividend increase". With oil prices picking up slightly, other energy companies were also on the rise. Royal Dutch Shell, which reports on Thursday, was up 21 at 1,854.

Meanwhile, shares in Vedanta Resources were up 18 at 1,870 after the company's first-quarter results came in ahead of expectations. The company reported EBITDA of $739 million for the three months to June, up from $695.4 million in the corresponding period last year, despite lower zinc prices and rising energy and related costs


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It also achieved record first-quarter production of 4.6 million tonnes of iron ore, up 57 percent. Morgan Stanley said the EBITDA number was 4 percent ahead of consensus, adding the main reason for the results beating forecasts was better-than-expected performance in the iron ore division. The broker retained its 'overweight' rating the shares.

Most other miners were also higher, as metals prices rose. Antofagasta was up 7-1/2 at 547-1/2. Anglo American was 36 higher at 2,786.

Among the midcaps, several companies found their results were badly received by the market.

Chip maker CSR was sharply lower after it reported a drop in pretax profit to $22.7 million for the second quarter of 2008 from $44.0 million a year earlier, in line with expectations.

The company said it expects "no alleviation in macro economic pressures". The shares fell 16-1/4 to 223.

Wealth management group St. James's Place was 12-1/4 lower at 197-1/4 after it reported that operating profit for the six months to June 30 came in at 114.2 million pounds, down from 120.7 million pounds in the same period last year.

Car dealership company Inchcape fell 14-1/4 to 281-1/2, despite reporting that first-half pretax profit rose to 130.3 million pounds, from 124.8 million.

Specialty chemicals company Croda International bucked the trend and was 14-1/2 higher at 675 after reporting a 64.1 percent rise in first-half profit before tax and exceptionals, including discontinued activities, and saying it was confident of making further progress in the rest of the year.


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Paris

Paris shares TFN market data; Alcatel-Lucent rises on management departures

CAC-40 down 45.62 points or 1.05 percent at 4,278.83

Major gainers:

Alcatel-Lucent up 0.16 or 4.18 percent at 3.99 as investors welcomed the resignation of chief executive Patricia Russo and chairman Serge Tchuruk, offsetting a negative impact from a wider than expected second quarter net loss.

Cap Gemini up 0.98 or 2.53 percent at 39.71
Total up 0.725 or 1.48 percent 49.715 as oil prices rose

Major losers:

Credit Agricole down 0.78 or 5.65 percent at 13.02, Societe Generale down 3.03 or 5.11 percent at 56.28, BNP Paribas down 2.34 or 3.69 percent at 61.07 and Dexia down 0.31 or 3.65 percent at 8.18 as renewed financial fears hit U.S. stocks

Most active stocks:

Alcatel-Lucent; 1.2 billion shares traded
Credit Agricole; 4.65 million shares traded


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Amsterdam

Amsterdam shares TFN market data at 10.26 a.m. - lower; Akzo plunges, DSM shines

MAJOR INDICES

AEX 390.05 points, down 2.93 points or 0.75 percent
AMX 529.11 points, down 0.53 points or 0.10 percent
Government bonds higher

MAJOR DECLINERS


AkzoNobel down 12.12 percent at 37.71 euros; no longer expects to meet its full-year EBITDA target and reports a 6 percent fell in second quarter net profit before fair value adjustments

Fortis down 3.34 percent at 8.97 euros; leads financials lower SNS Reaal down 3.52 percent at 9.87 euros as the midcap financial tracked blue chip peers lower Heijmans down 2.80 percent at 13.90 euros

MAJOR GAINERS


DSM up 9.77 percent at 39.20 euros; raised its full-year operating profit guidance to around 970 million euros with potential upside as it reported a strong second-quarter result

ArcelorMittal up 1.51 percent at 51.68 euros
Shell up 1.70 percent at 23.64 euros

Nutreco up 6.48 percent at 41.76 euros as the animal nutrition business is pulled higher by the strong second quarter result at DSM's vitamins business Fugro up 2.66 percent at 42.50 euros; wins $137 million joint contract in Brazil from Petrobras


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Brussels

Brussels shares TFN market data at 10:09 a.m.; Colruyt outperforms

Main index
Bel 20 down 30.23 points or 1.01 percent at 2,969.54

Bel 20 fallers

Agfa-Gevaert falls 0.20 euros or 3.94 percent to 4.87 Fortis down 0.34 euros or 3.66 percent at 8.94 Dexia down 0.30 euros or 3.53 percent at 8.20 KBC off 2.09 euros or 3.23 percent at 62.60 Delhaize down 0.46 euros or 1.25 percent at 36.48

Cofinimmo inches down 0.30 euros or 0.25 percent to 117.50; group expected to post a slight drop in first half net profit Tuesday after market close due to a second quarter boosted by income from recent acquisitions which will offset a weaker first quarter result

Bel 20 gainers

Colruyt rises 5.43 euros or 3.21 percent to 174.50 after forecast-beating Q1 sales; KBC raises target to 200.00 euros vs 180.00; JP Morgan lifts target to 200.00 euros vs 192.00; Petercam ups target to 195.00 euros vs 192.00; Citigroup lifts target to 180.00 euros vs 170.00

GDF Suez inches up 0.15 euros or 0.37 percent to 40.55; Suez Energy has valid acceptances for 94.4 percent of Econergy Bekaert up 0.51 euros or 0.54 percent at 94.09; analysts expect good H1 results on Friday before the market opens

Outside the Bel 20

OncoMethylome Sciences drops 0.60 euros or 7.41 percent to 7.50 Van de Velde down 0.52 euros or 1.95 percent to 26.21; KBC downgrades EPS 09/10 forecasts by 9 percent on lower-than-expected H1 sales

[Raggedy Man]

PDOS: Gale Anne Hurd's Valhalla Motion Pictures, Platinum Studios and Top Cow Productions Have Attached Jenna Dewan & Luke Goss to "Magdalena"
Wednesday July 23, 6:00 am ET

LOS ANGELES--(BUSINESS WIRE)--Gale Anne Hurd’s Valhalla Motion Pictures, producer of Marvel Studios’ summer hit release “The Incredible Hulk,” and Platinum Studios, Inc. (OTCBB: PDOS - News), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media, and Top Cow Productions, an entertainment company specializing in building intellectual properties through comic book and graphic novel publication like Universal’s summer box office hit “Wanted,” have attached Jenna Dewan and Luke Goss to star in the feature film “Magdalena” based on Top Cow’s comic book character “Magdalena,” which is currently in development.

Jenna Dewan is set to play Patience, a young woman who discovers that she is a part of the lineage of female warriors descended from Mary Magdalene. Patience must accept her destiny in time to save the world from a supernatural evil. Dewan’s other film credits include her breakout role in “Step Up,” “Take the Lead,” “The Grudge 2” and “Love Lies Bleeding.”

Luke Goss is set to play Kristof, an agent sent by the ultra secret organization that has been the guardian of the lineage of Magdalena. Goss co-stars in the blockbuster film “Hellboy II: The Golden Army” from director Guillermo Del Torro and the upcoming science fiction thriller “Tekken” based on the popular video and arcade game. Goss was part of the multi-platinum-selling British band BROS. and wrote a bestselling autobiography on his experiences with the group.

Gale Anne Hurd and Platinum Studios’ Chairman and CEO Scott Mitchell Rosenberg are set to produce. Gary Ventimiglia, President of Production at Valhalla Motion Pictures, who was instrumental in bringing Dewan and Goss to the project, is set to executive produce. Top Cow’s CEO Marc Silvestri (“Witchblade,” “Darkness”) would serve as executive producer as would former Universal Pictures senior executive Randy Greenberg of The Greenberg Group, who helped negotiate the deal. Matt Hawkins, President of Top Cow Productions, is set to co-produce.

Gale Anne Hurd and Valhalla Motion Pictures most recently produced the blockbuster feature The Incredible Hulk for Marvel Studios. Valhalla is continually developing a broad range of projects, including Marvel’s Punisher: War Zone for Lionsgate and Sony Pictures Entertainment which stars Ray Stevenson and is scheduled for release on December 5, 2008. Hurd has produced more than two dozen feature films that have generated billions of dollars of revenue. Her other credits include The Terminator, Aliens, Armageddon, Aeon Flux, The Punisher, Terminator 2: Judgment Day and Terminator 3: Rise of The Machines among others.

Platinum Studios’ film and TV division has various other properties in development at major film studios, including “Atlantis Rising” at DreamWorks with Kurtzman/Orci (“Transformers”) set to produce, “Cowboys and Aliens” also at DreamWorks with Kurtzman/Orci partnering with Universal Pictures and Imagine Entertainment, and “Unique” at Walt Disney Pictures.

Valhalla and Platinum Studios are currently co-developing a feature film based on the soon-to-be-published action thriller comic book Final Orbit. The graphic novel is slated for release by Platinum Studios Comics in 2009.

Top Cow has turned Wanted, an award-winning series created by Mark Millar and JG Jones and published by Top Cow from 2003-2005, into a major motion picture that was released on June 27, 2008 by Universal Pictures. The film stars Angelina Jolie, James McAvoy, and Morgan Freeman and was directed by Timur Bekmambetov.

About Platinum Studios, Inc.

Platinum Studios (OTCBB: PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile/wireless, gaming, and merchandising. Platinum Studios’ library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as www.DrunkDuck.com, a webcomics community. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms. Platinum Studios - Comics Fueling Media EVERYWHERE!

To learn more about the company and to sign up for our newsletter, please visit our website at http://www.platinumstudios.com/news/index.php

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.


Contact:

Platinum Studios, Inc.
Media Requests:
Randy Greenberg, 310-807-8100
[e-mail]
or
Investor Requests:
Thomas Becker, 702-478-7363
[e-mail]

Source: Platinum Studios, Inc.

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
11 Jul 2008 09:49:59




London

London shares open higher as NY closes firmer; commodity stocks gain

LONDON - Leading shares opened firmer on Friday after Wall Street closed higher overnight with commodity stocks the major gainers on the FTSE 100 as metal and oil prices rose.

At 8:45 a.m., the FTSE 100 index was 31.3 points higher at 5,438.1 after closing Thursday down 122.80 points at 5,406.80, while the FTSE 250 index was ahead 14.7 points at 8,535.2. "Its a quiet day on the market with the miners keeping the FTSE up.

There is no real news or companies reporting earnings to drive the market today," said Mark Priest, head of equity sales at Tradindex.

Overnight in the United States, Wall Street stumbled through another volatile session but ended with a respectable gain Thursday after a multi-billion-dollar deal between Dow Chemical Co. and rival Rohm and Haas Co. helped offset concerns about the financial sector and energy costs.

The DJIA index finished up 81.58 points at 11,229.02. Separately, the S&P 500 index gained 8.70 points to 1,253.39 and the Nasdaq composite rose 22.96, or 1.03 percent, to 2,257.85.

Friday in the United States will see the release of the latest U.S. trade figures and the University of Michigan preliminary consumer climate index for July.

Economists are expecting May's trade deficit to edge up to $62.1 billion, from $60.9 billion the previous month.

Elsewhere, the University of Michigan index is expected to ease slightly from 56.4 to 56.0 in July. The mood in Asia was mixed, the Nikkei 225 index closed down 27.52 points at 13,039.69, while the Hang Seng index ended the morning session 303.41 points higher at 22,125.19.


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Meanwhile, oil prices held steady on Friday following a sharp jump overnight driven by concerns about global crude supplies and tensions with Iran.

New York's main oil futures contract, light sweet crude for August delivery, rose 13 cents to $141.78 dollars a barrel after a jump of $5.60 to close at $141.65 Thursday at the New York Mercantile Exchange.

Brent North Sea oil futures for August delivery fell eight cents to $141.95. The contract leapt $5.45 to settle at $142.03 on Thursday in London.

Turning to the UK blue chips, miners and oil stocks were the major gainers on the FTSE 100 as metal and oil prices rose.

Out of the miners Kazakhmys was up 39 at 1,449, Vedanta Resources gained 52 at 2,059, Eurasian Natural Resources was 26 higher at 1,073, Antofagasta ticked up 12 at 591-1/2 and BHP Billiton firmed 35 at 1,763.

In the oil sector, BG Group gained 32 at 1,168, BP was up 9-1/4 at 549-1/2 and Royal Dutch Shell was 22 higher at 1,931, while exploration companies Cairn Energy was 63 firmer at 2,805 and Tullow Oil ticked up 20 at 862.

Away from commodities, Thomas Cook Group edged 3.4 higher at 187 after the group and Air Berlin informed the German Bundeskartellamt that they are withdrawing their current application for approval of the proposed merger of Condor Flugdienst GmbH and Air Berlin.

And, Lloyds TSB was up 4 at 296-1/2 following reports the group had abandoned its pursuit of a German banking deal after concluding that neither of the acquisitions it was considering would make sense for its shareholders. Turning to the downside, British Airways and Carnival continued to be hurt by the higher oil price.


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British Airways fell back 7 at 203-3/4 and Carnival lost 31 at 1,490.

Looking at the midcaps, house builders continued their rally following Barratt Developments positive trading update Thursday.

Barratt Developments was up 4-1/2 at 71-1/2, Taylor Wimpey gained 2-1/2 at 37-1/2 and Bovis Homes was 11-1/4 higher at 341-1/4.

After a broker upgrade, Mitchells & Butlers edged up 7-1/2 at 197 as UBS upgraded the group to 'buy' from 'neutral' ahead of its trading statement on 25 July.

And, Domino's Pizza gained 7-1/4 at 187 as Investec Securities initiated the group with a 'buy' stance with a price target set at 228 pence.

Turning to the downside, Tate & Lyle fell back 5-1/4 at 390-1/4 after Morgan Stanley reiterated its 'underweight' stance on the group.

And Sports Direct continued to fall, down 2-3/4 at 60-3/4 after Thursday's disappointing trading update.

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Paris

Paris shares TFN market data at 10:07 a.m.; oil rises hit auto, aviation stocks

Major indices:

CAC-40 up 13.96 points or 0.33 percent at 4,245.52
SBF-80 up 27.88 or 0.59 percent at 4,765.03
SBF-120 up 9.26 or 0.30 percent at 3,065.21

Major gainers:

Carrefour, up 0.57 or 1.81 percent at 32.07, recouping some of yesterday's losses Total, up 1.185 or 2.38 percent at 51.03, benefitting from an increase in oil price Casino up 1.30 or 1.91 percent at 69.20, after solid first half sales reassured investors

Major losers:

Michelin, down 1.29 or 2.70 percent at 44.65, and Peugeot, down 0.66 or 2.09 percent at 30.91, hit by rising crude prices Air France-KLM, down 0.48 or 3.23 percent at 14.39 percent on fuel price fears

Most active stocks:

Alcatel-Lucent, down 0.05 or 1.22 percent at 3.65; 2.8 million shares traded France Telecom, down 0.225 or 1.13 percent at 19.63


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Frankfurt

German shares TFN market data at 10.14 a.m.

DAX, down 10.95 points, or 0.17 percent, at 6,294.05
MDAX, up 13.43 points, or 0.16 percent, at 8,602.31
TecDAX, up 2.86 points, or 0.40 percent, at 724.18
DAX futures, down 33.00 points, or 0.52 percent, at 6,344.50

MAJOR DECLINERS
Continental, down 1.74 euros, or 2.98 percent, at 56.66, after Merrill Lynch lowered its stance on the stock to 'neutral' from 'outperform' Lufthansa, down 0.35 euros, or 2.48 percent, at 13.78, as a large-scale wage dispute with union ver.di during the upcoming holiday season looms, and as the oil price bounced.

TUI, down 0.22 euros, or 1.47 percent, at 14.70
Volkswagen, down 2.42 euros, or 1.42 percent, at 167.52
BMW, down 0.40 euros, or 1.34 percent, at 29.46

MAJOR ADVANCERS
Postbank, up 1.50 euros, or 3.03 percent, at 50.97, as Deutsche Bank can now concentrate on its bid for the bank, after it walked away empty-handed from its bid for Citigroup's German retail banking unit, that was sold to France's Credit Mutuel instead

Adidas, up 0.66 euros, or 1.77 percent, at 38.00 ThyssenKrupp, up 0.48 euros, or 1.41 percent, at 34.46, after Lehman Brothers raised their steel prices target

Bayer, up 0.64 euros, or 1.16 percent, at 55.90
Commerzbank, up 0.19 euros, or 0.98 percent, at 19.62

OTHER STOCK IN THE NEWS
MDAX-listed Norddeutsche Affinerie, down 1.29 euros, or 3.67 percent, as traders cited media reports saying Salzgitter is not interested in acquiring a stake in the company as previously speculated

MDAX-listed Heidelberger Druck, down 1.10 euros, or 9.05 percent, at 11.06, burdened by negative broker notes on the stock by JP Morgan and Cheuvreux following the company's weak first-quarter earnings released Thursday.


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Forex


London 0835 GMT London 0415 GMT
U.S. dollar
yen 107.17 unchanged 107.17
Swiss franc 1.0289 up from 1.0286
Euro
U.S. dollar 1.5773 down from 1.5778
pound 0.7982 up from 0.7979
Swiss franc 1.6229 down from 1.6232
yen 169.04 down from 169.05
Pound
U.S. dollar 1.9762 down from 1.9770
yen 211.81 down from 211.93
Swiss franc 2.0328 down from 2.0346
Australian dollar
U.S. dollar 0.9616 up from 0.9607
pound 0.4866 up from 0.4858
yen 103.05 up from 102.88

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
10 Jul 2008 09:53:18




London

London shares tumble in early trade after US slump; BoE decides on rates

LONDON - Leading shares opened sharply lower after Wall Street slumped late on Wednesday, with Associated British Foods slipping after a trading statement, with traders eyeing the Bank of England's monthly announcement at 12 noon which is likely to see the base rate held at 5 percent.

At 8:59 a.m., the FTSE 100 was down 93.8 points at 5,435.8, having risen 89.1 points to close at 5,529.6 on Wednesday. The FTSE 250 index was down 140.3 points at 8,514.3.

Wall Street tumbled on Wednesday as investors grappled with renewed worries about the soundness of the financial sector.

The Dow Jones Industrial Average fell 236.77, or 2.08 percent, to 11,147.44 a day after rising more than 150 points.

The Standard & Poor's 500 index fell 29.01, or 2.28 percent, to 1,244.69, while the Nasdaq composite index fell 59.55, or 2.60 percent, to 2,234.89.

The pullback again left the indexes in bear market territory, having logged declines of more than 20 percent since their October highs.

In Asia this morning, Japan's Nikkei 225 closed 15.08 points, or 0.1 percent, higher at 13,067.21. Hong Kong's Hang Seng finished its morning session up 172.15 points, or 0.8 percent, at 21,977.96, as investors snapped up Chinese banks on hopes of better first-half earnings.

Back in the UK, the Bank of England will announce its monthly decision on the base rate. The Monetary Policy Committee is likely to hold the rate at 5 percent, according to most pundits.


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The Bank is having to balance the need to keep inflation in check against the need to avoid a recession. Inflation was 3.3 percent in the year to May, compared with the Bank's target of 2 percent. On the other hand, the downturn in the housing market and on the High Street suggests that the next move in rates may be downwards.

In company news, Associated British Foods was 35 pence lower at 733 despite a mostly upbeat third-quarter trading statement. Sales at discount clothing retailer Primark were up 14 percent on the same period last year.

But it warned profits in its sugar division will continue to be impacted by European Union regime reform, with currency having a positive effect in the year due largely to the continued strength of the euro against sterling.

London Stock Exchange was 53 lower at 687, giving back some of the gains from Wednesday, when it reported sharply higher revenues.

B&Q owner Kingfisher fell 4.5 to 100 to after Goldman Sachs added it to its

'Pan-Europe sell list'. The broker, extremely downbeat on retailers, said the company had high exposure to France and big ticket items, a leveraged balance sheet and an unattractive valuation.

Next, which was downgraded to 'neutral' from 'buy' by the same broker, fell 31-1/2 to 869. Goldman cut midcaps Debenhams, Signet and Burberry, to 'sell' from 'neutral', and the shares fell 5 to 29-3/4, 2 to 45-1/4 and 22 to 407-1/2 respectively.

Among the few FTSE 100 risers, credit checking company Experian Group was up 10-3/4 at 372 after it said revenue was up 21 percent in the three months to June.


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Among the midcaps, Barratt Developments was up 9-1/4, at 63-1/4, extending gains from Wednesday, as it reported weaker trading but gave welcome news of breathing space on its debt position

The company said it had agreed, subject to final documentation, a restructuring of its covenant package with its banks and private placement note providers well in advance, as an appropriate, prudent response to current market conditions.

Specifically, under this agreement, the interest cover covenant is replaced with a cashflow covenant and the gearing and minimum tangible net worth covenants are relaxed.

The housebuilder said underlying private selling prices, referring to to those not classified as social housing, fell 5 percent in the year to June. The company is cutting 1,200 jobs.

Rivals gained. Taylor Wimpey rose 3-1/4 pence to 33-1/2. Bovis Homes rose 3-1/4 to 326-1/4.

On the downside, F&C Asset Management was 29-1/4, or 21.6 percent lower, at 106-1/2, on talk of a major placing of shares.

Sports Direct International was 4 lower at 67-3/4 after the sports retailer reported a 29.9 percent slump in full year underlying earnings and said it does not expect earnings to grow in its new financial year.

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Paris

Paris shares TFN market data at 10.05 a.m.; Carrefour falls as sales disappoint

Major indices:
CAC-40 down 73.86 points or 1.70 percent at 4,265.80
SBF-80 down 93.29 or 1.90 percent at 4,778.64
SBF-120 down 54.26 or 1.73 percent at 3,080.89

Major gainers:
Thomson SA up 0.29 or 10.32 percent at 3.10 after releasing a trading update predicting a smaller than expected decline in second half sales and that it expects to meet the terms of financial covenants

Major losers:
EADS down 0.16 or 1.32 percent at 11.93 after the Pentagon confirmed it is reopening a competition to supply tankers to the U.S. Air Force, scrapping the $35 billion contract it won with partner Northrop Grumman in February

Carrefour down 2.85 or 8.27 percent at 31.60 after disappointing first half sales and a downgrade by Cazenove Danone down 3.13 or 6.98 percent at 41.69 after major customer Carrefour said name brand sales volumes fell

Most active stocks:
Carrefour; 2.93 million shares traded Alcatel-Lucent, down 0.08 or 2.11 percent at 3.72; 2.50 million shares
traded


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Frankfurt

German shares TFN market data at 10:29 a.m.

DAX, down 59.74 points, or 0.94 percent, at 6,326.72
MDAX, down 84.95 points, or 0.98 percent, at 8,576.37
TecDAX, down 12.43 points, or 1.68 percent, at 726.40
DAX futures, up 39.00 points, or 0.62 percent, at 6,379.00

MAJOR DECLINERS
Continental, down 1.74 euros, or 2.88 percent, at 58.76, Infineon, down 0.30 euros, or 2.70 percent, at 4.690 as the chipmaker's stock corrected from recent gains and came under pressure from losses on tech
stocks in the U.S. over night

Henkel, down 0.62 euros or 2.42 percent, at 24.95, as shares in the household goods company saw their recent gains evaporate ThyssenKrupp, down 0.77 euros, or 2.22 percent at 33.88

Hypo Real Estate, down 0.31 euros, or 1.87 percent, at 16.25, as the worst of several hard-hit financials after investors's worries last night on Wall Street over prolonged fallout from the credit crisis sent financial titles to the bottom of the indices.

MAJOR ADVANCERS
Commerzbank, up 0.35 euros, or 1.82 percent, at 19.56, as the bank bucked Thursday's negative trend in the financial sector

Fresenius Medical Care, up 0.43 euros, or 1.22 percent, at 35.71 as trader said investors were looking to the stock defensive characteristics

Merck, up 0.08 euros, or 0.10 percent, at 82.08
Allianz, up 0.24 euros, or 0.21 percent, at 112.77

OTHER STOCK IN THE NEWS
TecDAX-listed Versatel, down 0.32 euros, or 2.24 percent, at 13.95, after Goldman Sachs downgraded its stance to 'sell' from 'neutral' and reduced its price target to 13.3 euros per share from 15.5.

MDAX-listed Heidelberger Druckmaschinen, down 0.96 euros, or 7.20 percent at 12.37, after the printing-machine specialist reported figures for the first quarter of its 2008/09 business year that show an operating loss and a gloomy near-term outlook.

MDAX-listed Tognum, down 1.31 euros, or 7.88 percent, at 15.31, after Deutsche Bank downgraded its stance on to 'hold' from 'buy' and cut its price target recommendation to 18.5 euros per share from 24. MDAX-listed Suedzucker, up 0.22 euros, or 1.95 percent, at 11.50


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Milan

Milan shares TFN market data at 9.46 am; Impregilo outperforms

Main indices
Mibtel at 21,932, down 1.23 pct
S&P/Mib at 28,459, down 1.08 pct

Main S&P/Mib gainers
Luxottica down 3.42 percent at 14.29 euros after Deutsche Bank cut rating to 'hold' from 'buy' Atlantia down 3.19 percent at 18.41 euros

Seat PG down 2.38 percent at 0.069 euros as UBS cut to 'neutral' from 'buy' L'Espresso down 2.59 percent at 1.47 euros on weak publishing sector Lottomatica down 2.03 percent at 19.35 euros after reports of mistakes at Kansas lottery that could impact concession renewal

Intesa Sanpaolo down 0.49 percent at 3.65 euros after Cheuvreux raised to 'outperform' vs 'underperform'

Main S&P/Mib gainers
Impregilo up 6.18 percent at 3.43 euros after being suspended limit up

Other stocks in news
Benetton down 3.91 percent at 6.81 euros after Goldman Sachs removed it from Buy list Tiscali down 6.63 percent at 1.77 euros after denying reports its sale could be decided by mid-August

Forex
London 0828 GMT London 0300 GMT
U.S. dollar
yen 107.12 up from 106.78
Swiss franc 1.0311 up from 1.0289
Euro
U.S. dollar 1.5715 down from 1.5723
pound 0.7954 up from 0.7935
Swiss franc 1.6205 up from 1.6182
yen 168.38 up from 167.90
Pound
U.S. dollar 1.9758 down from 1.9811
yen 211.67 up from 211.54
Swiss franc 2.0366 down from 2.0387
Australian dollar
U.S. dollar 0.9590 down from 0.9594
pound 0.4854 up from 0.4842
yen 102.73 up from 102.45

[Raggedy Man]

PDOS: Comic Creators Set to Win Big in Platinum Studios' The Comic Book Challenge 2008
Wednesday July 2, 10:00 am ET
Top 50 Announced Along with Prizes from Fandango, Genius Products, MashOn, Corel & Wacom

LOS ANGELES--(BUSINESS WIRE)--Platinum Studios, Inc. (OTCBB:PDOS), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media, today announced the Top 50 contestants, as well as the first wave of prizes, for this year’s The Comic Book Challenge™ (www.comicbookchallenge.com), Platinum Studios’ international contest for aspiring comic book writers and artists. Prizes from Fandango, Genius Products, Inc. (OTCBB:GNPI - News), Planetwide Media’s MashOn.com, Corel and Wacom will be awarded to the Top 50 entrants selected in this year’s contest. The complete list of the Top 50 can be found on The Comic Book Challenge website.

The Top 50 entrants, who include people from as far away as India, Singapore and Argentina, will now submit video pitches which will be judged by a celebrity panel of industry and Hollywood insiders at a secret location in early August. Platinum Studios will sign the winner to a publishing deal, which will include print, online and mobile. In addition, the company will seek opportunities both to develop the property for film and television as well as to create a licensing and merchandising program.

“Moving the contest completely online this year opened it up to many more people, truly making this a worldwide event in which anyone can participate,” said Scott Mitchell Rosenberg, Chairman and CEO of Platinum Studios. “And the wide geographic diversity of the Top 50 is a testament to that.”

“It’s well-known that comic fans are among the most passionate moviegoers – so Fandango is excited to be a part of The Comic Book Challenge™,” says Fandango Vice President of Marketing Ted Hong. “Fans have told us that the summer’s most anticipated films have comic book origins - IRON MAN, THE INCREDIBLE HULK, HELLBOY 2, WANTED and THE DARK KNIGHT. We hope that we are contributing to discovering the next great comic book talent.”

"We're very excited and proud, once again, to be sponsors of Platinum Studios' The Comic Book Challenge™ 2008," said Philippe Benoliel, CEO of MashON.com. "The Comic Book Challenge™ brings together the best and brightest comic artists and gives them an opportunity to become the next generation's comic book stars. With our MashON Comic Book Creator, we hope to attract more talent to the vibrant world of comic books by making the creation process accessible to people of all ages and backgrounds and helping them to share their creation."

“Wacom is excited to be a sponsor of this year’s The Comic Book Challenge™,” said Don Varga, Senior Product Manager for Wacom. “Our Intuos pen tablets and Cintiq interactive pen displays are the tools of choice for many of today’s top comic artists and animators, allowing them to creatively sketch, ink and color in a digital format.”

The winning entry from last year’s The Comic Book Challenge™, Gunplay by Jorge Vega, was released by Platinum Studios Comics as a graphic novel in April 2008 to critical review and fanfare.

Please visit www.ComicBookChallenge.com for full details on the Top 50 entrants, the prize packages and all of the updates on The Comic Book Challenge™ 2008.

About Platinum Studios, Inc. (http://www.platinumstudios.com)

Platinum Studios (OTCBB:PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile/wireless, gaming, and merchandising. Platinum Studios' library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as www.DrunkDuck.com, the industry's preeminent webcomics community. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms.

To learn more about the company and to sign up for our newsletter, visit www.platinumstudios.com.

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectation of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.

About Corel Corporation (www.corel.com)

Corel is at heart a creative company. We believe in the power of choice, the freedom of self-expression. By offering a comprehensive choice of Photo, Video & DVD, Illustration & Design and Office & Utilities software, we put the tools at your fingertips to help you creatively express yourself. Corel market leading product for illustrators is Corel Painter™ X, which mimics traditional painting and illustration better than any other software. Its unique digital brushes, art materials and textures help artists achieve the perfect composition, color palette and brush stroke. Ideal for professional artists, designers and photographers, it's a complete digital art studio.

About Planetwide Media’s MashOn (www.mashon.com)

MashOn.com is an exciting and unique web based suite of tools which allows users of all ages to combine their own photos, videos and sounds with premium licensed content, to easily create engaging, multimedia comic strips and animated novels. The resulting mashup can be shared with friends via email or posted to popular social networks using the MashON widgets, thereby maximizing brand awareness through exposure of the content and creating an immersive advertising environment.

About Wacom (www.wacom.com)

Founded in 1983, Wacom® revolutionized the nature of digital creativity when it introduced the world’s first cordless, battery-free, pressure-sensitive pen. Today, Wacom’s Cintiq® 21UX interactive pen display and its Intuos®3 family of pen tablets provide photographers, designers, and artists with the ultimate platforms to enhance creative control, comfort, and productivity.

About Genius Products

Genius Products, Inc. (OTCBB:GNPI - News), along with The Weinstein Company Holdings LLC, together owns Genius Products, LLC, a leading independent home-entertainment distribution company that produces, licenses and distributes a valuable library of motion pictures, television programming, family, lifestyle and trend entertainment on DVD and other emerging platforms through its expansive network of retailers throughout the U.S. Genius handles the distribution, marketing and sales for such brands as Animal Planet, Asia Extreme™, Discovery Kids, Dragon Dynasty™, Dimension Films™, Entertainment Rights group companies (Entertainment Rights, Classic Media and Big Idea), ESPN®, IFC®, RHI Entertainment™, Sesame Workshop®, TLC, The Weinstein Company® and WWE®. Genius Products, Inc. is the managing member of Genius Products, LLC, in which it holds a 30% equity interest.

Contact:
Platinum Studios
Randy Greenberg, 310-807-8100
[e-mail]

[SmokingUSA]

FRGY Frontier Energy Corp. Signs Letter of Intent for Purchase of Assets of Cancen Oil Processors
Friday June 27, 5:09 pm ET

NORTH LAS VEGAS, NV--(MARKET WIRE)--Jun 27, 2008 -- Frontier Energy Corporation ("Frontier" or the "Company")(Other OTC:FRGY.PK - News) is pleased to announce it has signed a letter of intent for the purchase of all assets and on-going business of Cancen Oil Processors, Inc. ("Cancen") (www.cancenoil.com), a private company. Cancen's assets include a refinery, multiple disposal wells and an existing operating business with experienced staff.

Frontier CEO Bob Genesi comments, "All parties are very excited about what this potential purchase could mean for Frontier and for Cancen. Discussions have been swift and only minor details remain. We hope to announce a completion of this purchase in the near term."

The Letter of Intent includes provisions whereby the two parties will use their best efforts to move forward to execute and deliver a definitive purchase and sale agreement within a short period of time. Additional information will be forthcoming as it becomes available.

About Frontier Energy Corp.

Frontier is an exploratory oil and gas business headquartered in Las Vegas, Nevada. Our goal is to build a solid portfolio of assets through the acquisition of leases and explore and develop the opportunities on our leases.

Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the oil and gas industry, competitive pricing pressures, completion of possible acquisitions, success at integrating and operating any acquired operations and the availability of necessary financing. These statements speak only as of above date, and Frontier disclaims any intent or obligation to update them.


Contact:

Contact:
Frontier Energy Corporation, Las Vegas
Robert Genesi
702-648-5849


Source: FRONTIER ENERGY

[SmokingUSA]

PMID Magic Hat Brewing Company Affiliate to Acquire Pyramid Breweries for $2.75 Per Share
Friday June 27, 7:12 pm ET

SEATTLE & BURLINGTON, Vt.--(BUSINESS WIRE)--Independent Brewers United, Inc., the parent of Magic Hat Brewing Company & Performing Arts Center, Inc. (“Magic Hat”), and Pyramid Breweries Inc. (NASDAQ:PMID - News) (“Pyramid”) today jointly announced the execution of a definitive merger agreement that contemplates, among other things, a tender offer to purchase all of Pyramid’s outstanding common stock for $2.75 per share in cash, or approximately $25.7 million in total purchase price. The all-cash offer represents a premium of 56.3% over the closing price of Pyramid’s common stock on April 28, 2008, the trading day prior to the public announcement of the execution of a Letter of Intent between Pyramid and Magic Hat regarding the proposed merger. The transaction received approval by the respective boards of directors of the merger parties. A newly formed merger subsidiary of Independent Brewers United expects to commence the tender offer for all outstanding shares of Pyramid common stock on July 2, 2008 or promptly thereafter.

Completion of the tender offer will be subject to the receipt of valid tenders for at least 66 2/3% of Pyramid’s common stock on a fully diluted basis, subject to waiver by Independent Brewers United if valid tenders for at least 51% of Pyramid’s common stock on a fully diluted basis have been received, and the satisfaction of other customary conditions. It is contemplated that the tender offer will be followed by a merger in which all common shares not acquired in the offer will be converted into the right to receive the offer price.

Martin Kelly, President and Chief Executive Officer of International Brewers United and its subsidiary Magic Hat, said, “We believe the combination makes sense for both companies and positions Independent Brewers United to be competitive in a fast changing beer industry. We look forward to consummating this transaction, which provides both strategic and financial benefits to our stakeholders.”

“This agreement marks yet another major milestone in Pyramid’s long history and a significant development in the craft beer category in general. The combination of Pyramid and Magic Hat should allow both brands to continue to grow rapidly and better compete in an ever competitive and consolidating industry,” said Scott Barnum, Pyramid’s President and CEO. “The agreement is a very positive strategic development for both companies, and we believe it is in the best interests of our shareholders,” he added.

About Pyramid Breweries Inc.

Pyramid Breweries Inc. is a leading brewer of specialty, full-flavored beers produced mainly under the Pyramid and MacTarnahan’s brand names. Pyramid’s family of unfiltered wheat beers continue to be honored by beer drinkers and judges, earning the most craft beer medals in the last decade at the prestigious Great American Beer Festival (“GABF”). Pyramid owns two alehouse restaurants adjacent to its full production breweries under the Pyramid Alehouse and MacTarnahan’s brand names in Berkeley, California and Portland, Oregon, respectively, and three alehouse restaurants in Walnut Creek and Sacramento, California and Seattle, Washington. For more information, visit www.PyramidBrew.com.

About Magic Hat Brewing Company & Performing Arts Center, Inc.

Magic Hat Brewing Company & Performing Arts Center, Inc., headquartered in Burlington, VT, is one of the largest craft brewers on the east coast and ranks among the fastest growing companies in the category nationwide. For more information, visit www.magichat.net.

Important Legal Information

The tender offer described herein has not commenced. The description contained herein is neither an offer to purchase nor a solicitation of an offer to sell shares of Pyramid Breweries Inc. At the time the tender offer is commenced, an affiliate of Magic Hat Brewing Company & Performing Arts Center, Inc. intends to file a Tender Offer Statement on Schedule TO containing an offer to purchase, forms of letters of transmittal and other documents relating to the tender offer, and Pyramid Breweries intends to file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. These documents will contain important information about the tender offer that should be read carefully before any decision is made with respect to the tender offer. These materials will be made available to the shareholders of Pyramid at no expense to them. Investors and security holders will be able to obtain the documents (when available) free of charge at the Securities and Exchange Commission’s (“SEC”) web site, www.sec.gov. In addition, such materials (and all other documents filed with the SEC) will be available free of charge at www.pyramidbrew.com and www.magichat.net. In addition, Pyramid shareholders may obtain free copies of the documents filed with the SEC when available by contacting Pyramid’s Investor Relations at 206-682-8322. Such documents are not currently available. You may also read and copy any reports, statements and other information filed by Pyramid or Magic Hat and its affiliates with the SEC at the SEC public reference room at 100 F Street N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 800-732-0330 or visit the SEC’s website for further information on its public reference room.

This press release contains certain forward-looking statements. These forward-looking statements could address future economic performance, restaurant openings, various financial parameters, or similar matters. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to materially differ from those anticipated in the statements. The most significant of these uncertainties as regards to Pyramid Breweries Inc. are described in Pyramid Breweries Inc’s Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). These risks and uncertainties include successful completion of the proposed acquisition on a timely basis, the impact of regulatory review on the proposed acquisition, the ability to achieve synergies following completion of the proposed acquisition, the impact of intense competition, changing economic or business conditions, the price and availability of ingredients and utilities, labor and insurance costs, increased advertising and marketing costs, litigation, unfavorable publicity, a lack of suitable locations, government regulations, a failure to achieve growth objectives, and other factors and uncertainties discussed from time to time in reports filed by Pyramid Breweries Inc. with the Securities and Exchange Commission.


Contact:

Pyramid Breweries Inc.
President and CEO
Scott Barnum, 206-682-8322
or
Magic Hat Brewing Company & Performing Arts Center, Inc.
President and Chief Executive Officer
R. Martin Kelly, 802-658-2739

Source: Pyramid Breweries Inc.

[SmokingUSA]

HJHO Halcyon Jets Announces Intent to Acquire Jet One Jets
Friday June 27, 4:01 pm ET
Second Pending Company Acquisition Continues Aggressive Roll-up Strategy to Significantly Increase Growth Opportunities

NEW YORK--(BUSINESS WIRE)--Halcyon Jets Holdings, Inc. (OTCBB:HJHO), pioneering elite concierge services for the private air travel services industry, announces that the Company has executed a letter of intent, subject to due diligence and Board approval, to acquire the business and assets of Woodbury Long Island-based Jet One Jets, an innovative private aviation services provider.


This potential acquisition is the second to be announced since Mitchell Blatt was appointed the new Chief Executive Officer of Halcyon Jets. The first targeted acquisition, Beverly Hills-based A-List Jets, is still pending. This strategic roll-up strategy is intended to cement the Company as a leader in the private air travel services industry.

Much like Halcyon, Jet One is a prominent private travel services firm that arranges private jet charter services to a select group of clients that include top celebrities, professional athletes, executives of leading entertainment firms and Fortune 500 companies. Jet One’s record of success, with special expertise in the travel requirements of high-end clientele, would complement Halcyon’s already impressive clientele base.

“When presented with the opportunity to acquire the Jet One business we felt the deal was extremely attractive on a number of fronts,” said Mitchell Blatt, Chief Executive Officer of Halcyon Jets. “The acquisition fits perfectly into our strategy of growth through strategic acquisition as a means to further expand our customer base and create new opportunities to build long-term shareholder value.”

Halcyon intends to expand its sales force to better serve its growing clientele with the first-in-class service that is the hallmark of both companies. Halcyon also intends to continue Jet One’s philanthropic endeavors as a contributor to non-profit groups such as the Corporate Angel Network, which eases the financial burden of travel for cancer patients by arranging free flights to treatment centers in the empty seats of corporate jets.

Halcyon has experienced exceptional growth as the Company continues to execute on its aggressive business plans. That growth was recently evidenced by the Company’s Q1 2009 reported revenues of $10.2 million which equaled 83% of revenues for its entire prior fiscal year. The Company saw bookings in Q1 2009 rise to 341 trips compared to 17 in Q1 2008. Halcyon has experienced uninterrupted organic quarterly growth since inception.

About Halcyon Jets Holdings, Inc.

Halcyon Jets Holdings, Inc. (“Halcyon Jets” or “the Company”), operating through its wholly owned subsidiary Halcyon Jets Inc., is a world-class broker of on-demand aircraft services, serving as agent of its customers in arranging for their transportation needs. Halcyon Jets capitalizes on the highest-margin segment of the aviation industry: elite business and luxury travelers who demand the highest levels of service, professionalism and comfort. The Company is committed to building revenues and shareholder value through organic growth as well as possible acquisitions. To serve this growing market, Halcyon has developed a luxury service unique in its ability to create a comprehensive White Glove-Red Carpet travel experience. Halcyon Jets takes pride in having the most flexible card program in the industry, with the lowest cost of entry, as well as the highest level of service. Halcyon Jets has access to a fleet of aircraft reaching thousands of airports, large and small, nationally and internationally. Halcyon Jets does not own or operate the aircraft on which our customers fly but through business partnerships with the aircraft operators, Halcyon is able to focus exclusively on providing the industry’s most exemplary service. All Halcyon-arranged flights are operated by Federal Aviation Administration certificated Part 135 air carriers that have the highest independently determined safety ratings.

For more information, please visit http://www.halcyonjets.com.

For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/hjho.

To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/hjho/quote.html.

To read the Company’s Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/hjho/factsheet.html.

Safe Harbor for Forward Looking and Cautionary Statements

Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors; government regulation, market demand and other factors disclosed in Halcyon’s Form 10-KSB filed on May 15, 2008 with the Securities and Exchange Commission.


Contact:

Financial Communications:
Trilogy Capital Partners
Ryon Harms, 800-592-6067 (toll-free)
[e-mail]

Source: Halcyon Jets Holdings, Inc.

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
26 Jun 2008 09:58:20




London

London shares lower in early trade after US gains fade

Leading shares were lower in early trade, after Wall Street lost most of its earlier gains and closed only marginally higher on Wednesday.

At 8:59 a.m, the FTSE 100 was down 26.7 points at 5,639.4, having risen 31.4 points on Wednesday to close at 5,666.1. The FTSE 250 was down 58.5 points at 9,262.7.

In the U.S. on Wednesday, Wall Street ended an erratic day with a modest gain after the Federal Reserve left interest rates unchanged and issued a mixed assessment of the economy.

The central bank said after a two-day meeting it is keeping the benchmark federal funds rate at 2 percent.

The market had also reacted positively to oil prices diving after U.S. Government data showed inventories having fallen. However, crude prices recouped some of the loss and closed $2.45 lower at $134.55 a barrel in the US.

The Dow Jones industrial average closed up 4.40, or 0.04 percent, to 11,811.83, after rising more than 100 points shortly after the Fed announcement. The Dow had been up about 70 points as the time of London's close. Trading is often erratic after a rate decision as the market assesses the central bank's statement.

Broader stock indicators managed to log stronger gains than the blue chips. The Standard & Poor's 500 index rose 7.68, or 0.58 percent, to 1,321.97, and the Nasdaq composite index rose 32.98, or 1.39 percent, to 2,401.26.

In Asia today, Hong Kong's Hang Seng index ended the morning up 97.93 points or 0.4 percent at 22,733.09.

Japan's Nikkei 225 fell 7.6 points, or 0.1 percent, to close at 13,822.32.

Back in London, British Sky Broadcasting was an early casualty after JP Morgan downgraded the company to 'underweight' from 'overweight' and cut its target to 560 pence, from 700. The broker cited concern about the company's advertising revenue. The shares fell 17-1/4 to 477-1/2.

Asian-focused bank Standard Chartered was 49 lower at 1,520, ahead of its trading update at 09:30 BST.


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Other banks were also mostly lower, giving up gains from Wednesday. Barclays was 15-1/2 lower at 315-1/2, despite Morgan Stanley upgrading it to 'overweight' from 'equal-weight'. HBOS was down 10 at 282, 7 pence above the 275 pence price at which it is selling shares to raise 4 billion pounds.

The top faller was London Stock Exchange, down 49-1/2 at 902-12/ giving back some of the 14 percent gain it enjoyed on Wednesday, after traders said it may still form some sort of partnership in Qatar.

Merrill Lynch reiterated its 'underperform' rating on LSE, and cut the target to 880 pence, from 920.

Today's news about a pan-European equities platform, created jointly by LSE and Lehman Brothers, has not impressed the market.

Miners helped to limit the FTSE 100's losses, as metals prices, notably gold and copper, rose. Anglo American was 44 higher at 3,329; Vedanta Resources, which Thursday also announced plans to raise $1.25 billion via bond offer, was up 17 at 2,268; Antofagasta was 3-1/2 higher at 656-1/2.

The recovery for oil prices late yesterday helped index heavyweight BP rise 6-1/4 to 580 in early trade today; Royal Dutch Shell was up 21 at 2,005.

Among the midcaps, oil services company Wellstream Holdings was the biggest loser, off 54, at 1,251, despite an upbeat trading statement. The shares have nearly tripled in the last year.

Packaging company DS Smith was 5-1/2 lower at 119-1/2 after it reported higher annual profit but warned of tougher times ahead.

On the upside, Currys and PC World owner DSG International was up 2-1/2 at 47-1/2. As expected, the company reported a 30 percent decline in full-year underlying profit. It also said it was "cautious" on the outlook.

Numis upgraded DSG to 'hold' from 'reduce'.

UK Diary of Events

For a diary of key financial and corporate events in the UK this week, click here


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Paris

PARIS - Market data at 10:35 a.m.:

Major indices:

CAC-40 down 39.76 points or 0.88 percent at 4,496.48

SBF-80 down 66.39 or 1.26 percent at 5,214.00

SBF-120 down 30.61 or 0.93 percent at 3,262.87

6 CAC-40 stocks up

34 CAC-40 stocks down

Major gainers:

ArcelorMittal up 0.80 euros or 1.25 percent at 64.55

Veolia Environnement up 0.30 or 0.83 percent at 36.35, recouping a little of its recent losses as investors turned to defensive stocks

Major losers:

Financials stocks were sharply lower as Fortis' surprise announcement of a capital increase reignited fears about the sector. Dexia was down 0.62 or 5.28 percent at 11.12, and Axa down 0.58 or 2.82 percent at 50.01.

Carrefour down 2.07 or 4.98 percent at 39.48 after the food retailer disappointed the market with the size and timing of synergies from the rebranding of its Champion supermarket chain in France. Merrill Lynch and JP Morgan cut their recommendations to 'neutral'.

EADS down 0.43 or 3.32 percent at 12.52. According to one dealer, the group remains under pressure from a weak dollar. Boeing, meanwhile, said the U.S. Government Accountability Office's full report on the award of a $35 billion contract to EADS and Northrop Grumman Corp. validated its challenge.

Most active stocks:

Alcatel-Lucent, up 0.02 or 0.37 percent at 4.05; 3.7 million shares traded

Carrefour, 2.5 million shares


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Milan

MILAN - Market data at 10:03 a.m.:

Main indices

Mibtel at 23,048 points, down 0.58 percent
S&P/Mib at 29,783 points, down 0.75 percent

Main S&P/Mib losers

Luxottica down 3.43 percent at 15.73 euros, after Wednesday's strong gains and ahead of a conference call in which the eyewear maker is expected to confirm its fiscal 2008 earnings target of 1.29 euros to 1.32 euros per share at constant exchange rates. The current mean estimate of analysts polled by Thomson
Reuters is a per-share profit of 1.19 euros for the year

Fiat down 2.86 percent at 10.83 euros

UniCredit down 2.50 percent at 4.02 euros as its 2008-2010 business plan, currently being presented, failed to give investors the positive catalyst they were hoping form in terms of earnings growth

Impregilo down 2.41 percent at 3.0225 euros

Banca Monte dei Paschi di Siena down 2.15 percent at 1.774 euros

Main S&P/Mib gainers

Tenaris up 5.84 percent at 22.83 euros

Buzzi Unicem up 2.08 percent at 16.18 euros

Saipem up 0.45 percent at 28.79 euros

Generali up 0.32 percent at 24.74 euros as UBS upgraded the stock to 'neutral' from 'sell' while trimming the price objective to 27 euros from 28 euros

A2A up 0.28 percent at 2.3325 euros

Other stocks in the news

Finmeccanica down 1.42 percent at 16.63 euros, retracing after Wednesday's gains. According to reports, the board will decide on the capital hike necessary, expected to reach up to 1.4 billion euros, to partly fund the acquisition of DRS Technologies

Telecom Italia down 1.59 percent at 1.30 euros as its CEO Franco Bernabe in an interview with daily la Repubblica said that his group is closely watching and evaluating the situation with Tiscali. When asked about a possible interest in Germany's Versatel, he said the group wants to create value in Germany and that it will not stay still in a market that is integrating

Tiscali up 4.41 percent at 2.1175 euros


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Frankfurt

FRANKFURT - Market data at 10:22 a.m.

DAX down 48.61 points, or 0.73 percent, at 6,569.23
MDAX down 41.68 points, or 0.45 percent, at 9,305.01
TecDAX down 8.87 points, or 1.09 percent, at 806.82
DAX futures down 32 points, or 0.34 percent, at 6,642.50

Major Decliners:

Hypo Real Estate, down 0.91 euros, or 4.44 percent at 19.59, after a tender offer for up to 24.9 pct of the company from a group led by J.C. Flowers ended with 46.7 percent of the shares in the commercial real estate financier having been tendered.

Adidas, down 1.37 euros, or 3.20 percent, at 41.45, in the wake of sluggish U.S. sales numbers from U.S. sports equipment manufacturer Nike Inc yesterday.

MAN, down 1.55 euros, or 1.95 percent, at 77.90

BMW, down 0.54 euros, or 1.69 percent at 31.35. WestLB lowered its price target to 31 euros per share from 33 and reiterated its 'reduce' rating.

Commerzbank, down 0.31 euros, or 1.54 percent at 19.79

Major gainers

Thyssenkrupp up 0.45 euros, or 1.13 percent, at 40.32, rebounding from yesterday's losses caused by pressure on the steel sector from higher iron ore prices

EON up 0.12 euros, or 0.09 percent, at 126.45, helped by the stock's defensive characteristics

Deutsche Postbank, up 0.04 euros, or 0.07 percent, at 57.94, adding to yesterday's gains on increased M&A speculation after media reports have said that Lloyds TSB has entered into the race for acquiring the Deutsche Post banking unit


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Brussels

BRUSSELS - Market data at 9:48 a.m.

Main index

Bel 20 drops 81.52 points or 2.42 percent to 3280.13

Bel 20 fallers

Fortis plummets 1.25 euros or 9.88 percent to 11.05 after the group announced a number of solvency measures and analysts warned might not be enough to protect the company against any further downturn in market conditions. Bank Degroof roughly estimates that the move will cost the Fortis shareholders 2.0 euros per share. The broker reduces its price target to 19.0 euros per share, maintains 'buy'. KBC cuts its target to "towards 20 euros" from 24.

Dexia down 0.68 euro or 5.80 percent at 11.05; ING analysts expect the group to be next in line to announce a capital increase

KBC drops 1.45 euros or 1.95 percent to 72.80

Omega Pharma 0.12 euro or 0.45 percent lower at 26.54

UCB drops 0.20 euro or 0.86 percent to 23.58

Suez down 0.49 euro or 1.13 percent at 43.00

Bekaert loses 1.06 euros or 1.03 percent to 101.50, announces closure of plant in Lanklaar, Belgium and job cuts

Inbev falls 0.47 euro or 1.02 percent to 45.83 amid press reports that Anheuser-Busch will reject Inbev's takeover offer

Belgacom edges 0.14 euro or 0.50 percent lower to 27.66 after announcing that it has acquired Tele2Luxembourg for 207 million euros, expects to achieve synergies or at least 25 million euros. Bank Degroof says the price is "fair" and adds that it should not stand in the way of the expected interim dividend. Dexia's Rob Goyens says the impact of the deal is "minimal", maintains 'neutral' stance.

Bel 20 risers

Colruyt up 1.93 euros or 1.19 percent at 164.01

Cofinimmo gains 0.11 euro or 0.09 percent to 118.60

Forex
London 0719 GMT Hong Kong 0500 GMT
U.S. dollar
yen 108.07 down from 107.93
Swiss franc 1.0374 up from 1.0353
Euro
U.S. dollar 1.5648 down from 1.5674
yen 169.13 down from 169.22
Swiss franc 1.6238 down from 1.6231
pound 0.7932 down from 0.7940
Pound
U.S. dollar 1.9720 down from 1.9736
yen 213.22 up from 213.09
Swiss franc 2.0455 up from 2.0432
Australian dollar
U.S. dollar 0.9577 down from 0.9590
pound 0.4856 down from 0.4858
yen 103.55 up from 103.53

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
24 Jun 2008 09:46:58




London

London shares up early on as Rio Tinto news aids miners; NY ends mixed

At 8:48 a.m., the FTSE 100 index was up 13.4 points at 5,680.6, while the FTSE 250 index rose 12.6 points to 9,333.2.

In the U.S., stocks stalled Monday, ending mostly lower after rising oil prices and ongoing worries about the financial sector gave investors little reason to buy a day ahead of a Federal Reserve meeting.

The Dow Jones Industrial Average closed down 0.33 points, or less than 0.01 percent, to 11,842.36. The Standard & Poors 500 edged up 0.07, or 0.01 percent, to 1,318.00, and the Nasdaq composite index fell 20.35, or 0.85 percent, to 2,385.74.

Today in Asia, Japan's Nikkei 225 index closed down 7.91 points at 13,849.56, while Hong Kong's Hang Seng Index ended its morning session down 116.04 points at 22,598.92.

In early equity moves, Rio Tinto was up 135 to 6,109, given a boost by news overnight that it has agreed an average 85 percent increase in iron ore prices for the contract year starting April 1, 2008.

ING analysts said this increase beats the previously announced settlements by competitors and greater than the 71 percent increase the analysts had been modelling.

Sector peers followed suit with Antofagasta the top FTSE 100 riser, up 24 at 669, aided further by Credit Suisse raising its stance to 'outperform' from 'neutral' Tuesday morning, while BHP Billiton climbed 39 to 1,947 and Vedanta Resources rose 40 at 2,344.

In earnings news, Thomas Cook Group was up 9-1/2 to 243-3/4, after the travel group announced a 15 percent narrowing of its first half losses and reaffirmed full-year targets, while announcing that chief financial officer Ludger Heuberg is standing down for personal reasons.


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TUI Travel added 5 to 210-3/4 in sympathy.

The banking sector performed well early on, after the surprise news Monday evening that Resolution is discussing a 400 million pound capital injection into the troubled UK mortgage lender Bradford & Bingley, which would replace TPG's offer and the group's rights issue.

B&B shares surged 8 pence higher, or 12.12 percent, at 74, while blue chip peers also rose. HBOS added 6 to 276-1/4, RBS added 3-1/2 at 218 and Barclays climbed 2-3/4 higher to 302-1/2.

Meanwhile, a pleasing trading statement from Bunzl lifted shares 17 higher at 682-1/2, while Seymour Pierce offered support, upgrading the stock to 'buy' from 'hold' Tuesday.

On the downside, Liberty International fell 26 to 854, after Citigroup downgraded its recommendation to 'sell' from 'hold' as it feels investors are losing confidence in the property sector.

Other property stocks fell after Citigroup cut its price targets, with Land Securities down 8 at 1,267 and Hammerson losing 3-1/2 at 899.

Meanwhile, investors were unimpressed by Petrofac's trading statement, as shares fell 5 to 732-1/2. On the second line, Debenhams soared 8-1/2, or 12.88 percent, at 74-1/2, after it brought its trading statement forward in a successful attempt to reassure investors.

The retailer said like-for-like sales were down 0.6 percent for the 42 weeks to June 21 but up 1 percent over the past 10 weeks since its last update.

In reaction Citigroup said it expects the share price to benefit from the positive news of further market share gains and peer group outperformance.

FTSE 100 retailers also rallied early on, with Next up 25 at 1,020, Marks & Spencer adding 4-3/4 at 344-1/4 and Kingfisher 2 higher at 116.4.


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Also benefiting from well received results was Ashtead Group, up 2-3/4 at 74-1/2. Earlier the company reported a 51 percent increase in full-year underlying pretax profit and higher revenue.

RPS Group rose 13-1/4 at 309-1/2 after it said the strong trading it experienced in the first quarter of the year has continued into the second quarter and it expects to report "excellent" first-half results.

On the 250 downside, Kesa Electricals fell 2-1/2 at 172, after it said consumer confidence is continuing to fall as it reported a 3.1 percent increase in full year retail profit, prompting Panmure Gordon to downgrade its stance to 'sell' from 'buy'.

However, sector peer DSG International, which reports numbers Thursday, added 2 at 48-1/2.

Following first-half results Chemring Group lost 48 at 2,274. Chemring also said it has conditionally agreed to buy Martin Electronics Inc. (MEI) for $70.0 million.

Elsewhere, shares in Aveva Group were down 15 at 1,490 early on after Investec downgraded its recommendation to 'sell' from 'neutral'.

In macro news, investors will be interested in the monthly mortgage lending survey from the British Bankers' Association, which is set to show the UK housing market retreating further in May.

Analysts expect the number of loans for house purchase approved during the month to have fallen 1,000 to 37,500.

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Milan

Milan shares TFN market data at 9:51 a.m.: Tenaris slides; refiners soar

Main indices:
Mibtel at 23,009 points, down 0.22 percent
S&P/Mib at 29,674 points, down 0.18 percent

Main S&P/Mib losers
Tenaris down 2.35 percent at 21.60 euros, continuing on Monday's slide Fiat down 2.50 percent at 11.29 euros Luxottica down 2.09 percent at 15.33 euros

Banco Popolare down 1.33 percent at 11.12 euros. BPER said it will launch a takeover offer on Meliorbanca, in which Banco Popolare is the second largest shareholder, at 3.2 euros per share, with the aim of extracting cost and revenue synergies and to delist it

Enel down 1.26 percent at 6.215 euros

Main S&P/Mib gainers
Seat Pagine Gialle up 3.09 percent at 0.0733 euros, recovering after Monday's slump. The yellow-pages publisher CEO Luca Majocchi told daily la Repubblica that the group will need to consider renegotiating its debt from 2011. The CEO reiterated that the group expects to close 2008 with an EBITDA of 610 million euros, which is 10 percent higher than the guarantee made with the group's creditor bank, Royal Bank of Scotland Group Plc.

Telecom Italia up 1.99 percent at 1.279 euros as Sanford Bernstein upgraded the stock to 'outperform' from 'market-perform' on valuation grounds.

Finmeccanica up 1.73 percent at 16.20 euros Unipol up 1.37 percent at 1.551 euros Saipem up 1.11 percent at 1.547 euros after announcing that it signed a contract worth more than 1 billion euros to lay the Nord Stream gas pipeline linking Russia to Germany across the Baltic Sea

Other stocks in the news
Mediaset down 0.68 percent at 4.3175 euros as dealers said Goldman Sachs removed the stock from its 'conviction sell list' while keeping the 'sell' rating Buzzi Unicem up 0.90 percent at 16.09 euros as dealers said Dresdner Kleinwort upgraded the stock to 'buy' from 'hold'

Saras up 5.27 percent at 3.9675 euros after the refiner announced its 2008-2011 business plan, which foresees investments of about 1.23 billion euros, mainly to further upgrade its diesel-focused Sarroch refinery in Sardinia and cut fuel oil output

ERG up 3.4 percent at 15.85 euros, after being briefly suspended limit up, after announcing it is selling a 49 percent stake of its refining operations to Lukoil for 1.348 billion euros, valuing the business at 2.750 billion euros


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Amsterdam

Amsterdam shares TFN market data at 10:34 a.m. - lower, but ASML shines

MAJOR INDICES
AEX 436.45 points, down 0.99 points or 0.23 percent
AMX 591.11 points, down 5.11 points or 0.86 percent
Government bonds mixed

MAJOR DECLINERS
TomTom down 4.52 percent at 18.38 euros TNT down 2.30 percent at 22.50 euros; pressured after U.S. Peer UPS issued a profit warning overnight

Corio down 1.68 percent at 49.30 euros

ING down 0.35 percent at 21.06 euros amid reports it will stop selling investment-based insurance products in the Netherlands and news it has won an extended payments traffic contract from health insurer Menzis

CSM down 3.08 percent at 22.36 euros

Wavin down 2.98 percent at 5.87 euros; Lehman Brothers cuts target to 8.0 euros from 11.5 and reiterates 'equal-weight' rating

ASMI down 2.30 percent at 19.52 euros; agrees with shareholders to postpone EGM in order to pursue talks with interested buyers for Front-end operations

AMG down 0.62 percent at 57.82 euros; off early gains after it was upped to 'buy' vs 'hold' at ING with a target of 72 euros compared with previous 60

MAJOR GAINERS
ASML up 3.54 percent at 16.40 euros; upped to 'buy' from 'neutral' at Goldman Sachs

Unibail-Rodamco up 1.26 percent at 145.91 euros
SBM Offshore up 0.90 percent at 23.51 euros
USG People up 2.22 percent at 11.97 euros

Imtech up 1.45 percent at 15.40 euros; wins 100 mln euro technology contract at Gazprom Arena, Saint Petersburg

OPG up 2.29 percent at 14.27 euros; upped to 'hold' from 'reduce' at SNS


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Paris

Paris shares TFN market data at 10:18 a.m.; hesitant trade ahead of Fed meeting

Major indices:
CAC-40 down 8.52 points or 0.19 percent at 4,502.85
SBF-80 down 17.85 or 0.34 percent at 5,215.08
SBF-120 down 6.95 or 0.21 percent at 3,266.84

10 CAC-40 stocks up
30 CAC-40 stocks down

Major gainers:
Dexia up 0.17 euros or 1.50 percent at 11.52 and Credit Agricole up 0.09 or 0.70 percent at 12.87 after falling sharply on Monday amid ongoing concerns about the financial sector's troubles.

Sanofi-Aventis up 0.58 or 1.40 percent at 42.12

Total up 0.57 or 1.07 percent at 53.29, as oil prices remained around $136 a barrel after surging Monday in reponse to the latest disruption to Nigerian production and disappointment with the outcome of the Jeddah oil summit.

Major losers:
Michelin down 1.24 or 2.73 percent at 44.26 and Renault off 0.86 or 1.61 percent at 52.70 as auto stocks remained under pressure from oil prices

Veolia Environnement down 0.82 or 2.27 percent at 35.23 as the group continued to lose ground after warning last Thursday it will struggle to meet its target for 10 percent growth in net profit this year.

LVMH down 1.28 or 1.88 percent at 66.84, PPR 0.69 or 0.92 percent lower at 74.70, and Hermes International off 2.24 or 2.28 percent at 95.80, as luxury stocks were out of favour.

Most active stocks:
Credit Agricole, 7.1 million shares traded
Axa, down 0.14 or 0.70 percent at 19.98; 1.7 million shares

Forex
London 0745 GMT Hong Kong 0500 GMT
U.S. dollar
yen 107.92 down from 108.08
Swiss franc 1.0409 down from 1.0449
Euro
U.S. dollar 1.5568 up from 1.5515
yen 168.07 up from 167.72
Swiss franc 1.6208 down from 1.6218
pound 0.7905 up from 0.7895
Pound
U.S. dollar 1.9691 up from 1.9650
yen 212.51 up from 212.37
Swiss franc 2.0498 down from 2.0532
Australian dollar
U.S. dollar 0.9550 up from 0.9518
pound 0.4847 up from 0.4841
yen 103.07 up from 102.86

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
20 Jun 2008 09:54:37


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London

London shares turn lower in early deals, ahead of triple-witching

UK blue chips turned lower in early morning deals, reversing opening gains after reversals in Asia and amid caution ahead of triple-witching futures and options expiring across equity markets Friday.

At 9:20 a.m., the FTSE 100 index was 8.8 points lower at 5,699.6, having closed 48.5 points lower at 5,708.4 on Thursday. The FTSE 250 index was down 20.3 points at 9,426.3.

Overnight on Wall Street, the DJIA ended 34.03 points higher at 12,063.09, having reversed earlier falls, while the broader S&P 500 index finished up 5.02 points firmer at 1,342.83 and the Nasdaq composite index jumped 32.35 points to end at 2,462.06.

U.S. stocks were volatile on Thursday as a sharp drop in the price of crude oil helped counter renewed concerns about the strength of the world's biggest economy and worrisome comments from Citigroup, which warned a "substantial" amount of writedowns on bad debt are still to come.

Oil fell nearly $5 a barrel on Thursday after China announced plans to raise caps on gasoline and diesel fuel prices and Saudi Arabia confirmed late on the day it plans to increase daily oil output by 200,000 barrels per day.

Crude prices were easier in Asia trade on Friday, with New York light sweet crude for July delivery around 56 cents lower at $131.37 per barrel.

Asian equity markets, however, ended lower today. Japan's Nikkei 225 index ended 188.09 points lower at 13,942.08, knocked by a fall from banking stocks in reaction to the Citigroup comments.

And in Hong Kong, the Hang Seng Index lost its early strength to end 52.01 points lower at 22,745.60

In London, housebuilders were the main positive feature today, bouncing back on bargain hunting and option expiries-related factors after sharp falls yesterday which followed a prediction from mortgage bank HBOS that UK house prices would drop by 9 percent this year.

Persimmon topped the FTSE 100 leaders board, up 21-1/5 pence at 386-1/2, while among the dominant mid caps Barratt Developments was the top performer, ahead 14-1/2 pence at 92-3/4. Landsbanki repeated its 'buy' stance on Barratt Developments today noting comments from trade journal 'Building' indicating that the groups banks are willing to waive its loan covenants if Barratt were to breach them.

The broker said while it would not place too much on emphasis on the story "it does concur with comments made by Mark Pain the FD of Barratt when we had discussions with the group on the debt profile on June 11".


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Landsbanki added that whilst this is a high risk investment, the 'Building' report is the sort of news that may draw some of the shorts out of the market and encourage some revival in the share price.

Other mid cap housebuilders were encouraged as well, with Redrow adding 15-3/4 pence at 170, Taylor Wimpey ahead 7 pence at 73-1/2, Bovis Homes up 16-1/2 pence at 362-1/4, and Bellway gaining 23 pence at 499.

Otherwise, in the absence of almost any corporate news, broker comment offered the main interest this morning.

G4S was a big blue chip riser, up 6-1/4 pence to 212-1/2 after being upgraded to 'overweight' from 'equal-weight' by Morgan Stanley, with its price target raised to 240 pence from 225, implying 16 percent upside potential.

Morgan Stanley told investors in a research note it views G4S recent share price weakness as a good entry point following the broker's recent visit to the company in the United States, which has made it more positive on growth, margins, acquisition strategy and valuation.

Meanwhile Chilean copper miner Antofagasta jumped 16-1/2 pence higher to 651-1/2 after Merrill Lynch upped its rating to to 'neutral' from 'underperform' on valuation grounds. However, Merrill Lynch said that Antofagasta did not deserve a 'buy' rating as it is cautious on the very near term outlook for copper.

Other mining blue chips were a drag on blue chip sentiment, however, reflecting weaker commodity prices, with Anglo American losing 124 pence at 3,394, Xstrata off 87 pence at 4.171, Lonmin down 64 pence at 3,126, and BHP Billiton dropping 36 pence at 1,914.

Plumbing group Wolseley was the biggest FTSE 100 casualty, shedding 22-1/4 pence at 448 after being been downgraded to 'underweight' from 'equal-weight' by Morgan Stanley, with its price target slashed to 380 pence from 530.

Morgan Stanley cited four reasons for its downgrade: a more negative outlook on the Nordic business; the trough of U.S. housing starts pushed out to the second quarter of the current 2009 year; no group organic revenue growth until full-year 2011; and net debt to EBITDA exceeding its debt covenant.

Meanwhile the Financial Times Market report today also suggested that Wolseley may require a rights issue.


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Elsewhere, weakness in banking issues was also a feature among the blue chip fallers, with the sector unnerved again by Citigroup's warnings over right downs overnight and HBOS's gloomy trading update yesterday.

HBOS shares dropped another 12-1/4 pence to 284-1/2 with both Credit Suisse and Lehman chopping back its target on the mortgage bank today, while peer Royal Bank of Scotland lost 5-1/2 pence at 219-1/4, Alliance & Leicester shed 6 pence at 298-1/4, and Lloyds TSB dropped 7-1/2 pence at 324-1/2.

Barclays also fell back, off 6-1/4 pence at 309-1/2 shrugging aside reports that Japan's Sumitomo Mitsui Banking Corp is in the final stages of negotiations with to provide a $926.3 million capital infusion to the UK bank.

On the second line, Bradford & Bingley was the biggest faller, down 4-1/4 pence at 67-3/4.

Elsewhere, shares in Rightmove dropped 11-1/4 pence to 308-3/4 after being cut to 'hold' from 'buy' by Citigroup.

The broker said following the deteriorating UK housing market outlook and the increased rate of estate agent closures it is cutting its 2009 and 2010 forecast for Rightmove.

But on the upside, eaga shares added 1-3/4 pence at 11-1/2 after the same broker upped its stance to to 'buy' from 'hold', while reducing its target to 140 pence from 160 pence.

Citigroup said as fuel poverty becomes more of an issue, the climate change bill should focus investor attention on the renewable energy CERT market, where eaga has potential to grow its market share.


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Milan

MILAN - Market data at 9:40 a.m.:

Main indices:

Mibtel at 23,642 points, up 0.44 percent

S&P/Mib at 30,477 points, up 0.27 percent

Main S&P/Mib gainers

Tenaris up 6.62 percent at 23.20 euros, after being briefly suspended limit up, touching record highs. Since the start of the year the stock has risen more than 30 percent, the biggest gainer on the blue-chip S&P/Mib index, which in the same period lost more than 20 percent

UniCredit up 1.06 percent at 4.0625 euros

Mondadori up 1.06 percent at 3.9525 euros

Buzzi Unicem up 1.04 percent at 16.56 euros

Lottomatica up 0.97 percent at 18.69 euros

Main S&P/Mib losers

Impregilo down 2.86 percent at 3.225 euros

Fastweb down 1.34 percent at 20.68 euros

Fiat down 1.27 percent at 12.41 euros. Late Thursday, CEO Sergio Marchionne said that car sales in the Italian market will be "the same kind of disaster we have seen in May" when car registrations fell 19 percent

A2A down 1.00 percent at 2.475 euros. Cazanove initiated the stock with a 'neutral' stance and a 2.65 euros fair value. The broker said the utility has lower growth and higher multiples than other more regulated Italian local utilities

Geox down 0.91 percent at 6.845 euros

Other stocks in the news

Telecom Italia up 0.87 percent at 1.281 euros. According to reports, the group's board approved late Thursday measures to open up its fixed line network to third parties and presented the package to communications regulator AGCOM

Tiscali down 1.95 percent at 2.115 euros. According to reports the group so far has failed to attract bids from British groups. The group is due to decide on its sale by the end of this month


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Frankfurt

FRANKFURT - Market data at 9:56 a.m.

DAX up 11.96 points, or 0.18 percent, at 6,733.13
MDAX up 33.90 points, or 0.36 percent, at 9,544.09
TecDAX up 2.07 points, or 0.25 percent, at 826.67
DAX futures down 21 points, or 0.31 percent, at 6,734.00

Major gainers

ThyssenKrupp up 1.11 euros, or 2.70 percent, at 42.28, continuing yesterday's gains, helped today on higher sector valuation on reports that major Chinese steelmakers have joined with sovereign wealth fund China Investment Corp to bid for a stake in the iron ore unit of Brazilian steelmaker Companhia Siderurgica Nacional (CSN)

Lufthansa, up 0.21 euros, or 1.41 percent, at 15.15, aided by easing oil price

Daimler up 0.49 euros, or 1.11 percent, at 44.83, perhaps also helped by easing oil prices

Merck, up 0.96 euros, or 1.09 percent, at 88.99, after it announced that it has submitted an application to the EMEA for Erbitux in the first-line treatment of patients with recurring and/or metastatic squamous cell carcinoma of the head and neck

Continental up 0.81 euros, or 1.28 percent, at 118.91. The company is examining the possibility of acquiring the Indian subsidiary of Spain's Metro Tyres Europe.

Major decliners

TUI down 0.30 euros, or 1.94 percent, at 15.17

Deutsche Boerse down 1.54 euros, or 1.87 percent, at 80.94, on continued pressure after Credit Suisse lowered its price target on the shares to 135 euros from 150, and reiterated its 'outperform' rating.

Hypo Real Estate down 0.23 euros, or 1.08 percent, at 21.01

MAN down 0.59 euros, or 0.72 percent, at 81.21

BMW down 0.21 euros, or 0.64 percent, at 32.72

Other Stocks

MDAX-listed Kloeckner & Co up 1.23 euros, or 3.22 percent, at 39.47, after the steel-and-metals distributor gave strong 2008 targets and said it expects solid profit and revenue gains due to "massive price increases".


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Amsterdam

AMSTERDAM - Market data at 10:23 a.m.

Major indices

AEX 446.71 points, up 0.03 points, or 0.01 percent
AMX 613.09 points, down 4.72 points, or 0.76 percent
Government bonds higher

Major gianers

Heineken up 1.37 percent at 33.24 euros; rebounding from Thursday's losses amid worries over its first-half results. SNS cuts its target to 35 euros from 37, but keeps the stock at 'hold'

ASML up 1.04 percent at 16.56 euros; recovering from yesterday's sell-off sparked by rumours of a possible downgrade on its second-quarter margin target

TNT up 0.43 percent at 23.62 euros on positive broker response to TNT's statement that its business is not impacted by the recent fuel cost hikes

Heijmans up 0.77 percent at 17.00 euros

Major losers

SBM Offshore down 2.60 percent at 23.94 euros; downgraded to 'neutral' at Goldman Sachs on valuation

Fortis down 1.17 percent at 12.69 euros

Reed Elsevier down 1.01 percent at 10.80 euros

Wavin down 3.36 percent at 6.32 euros; warns first-half EBITDA margin will be 11 percent compared with 13 percent last year. Petercam cuts rating to 'sell' from 'reduce'

AMG down 3.22 percent at 56.80 euros; owns 79,52 percent of Graphit Kropfmuehl after public tender offer

Aalberts down 2.46 percent at 12.70 euros

Forex
London 0758 GMT Tokyo 0400 GMT
U.S. dollar
yen 107.68 down from 107.86
Swiss franc 1.0397 down from 1.0430
Euro
U.S. dollar 1.5557 up from 1.5509
yen 167.55 up from 167.33
Swiss franc 1.6180 down from 1.6181
pound 0.7882 up from 0.7869
Pound
U.S. dollar 1.9733 up from 1.9704
yen 212.47 down from 212.57
Swiss franc 2.0516 down from 2.06551
Australian dollar
U.S. dollar 0.9532 up from 0.9502
pound 0.4830 up from 0.4819
yen 102.66 up from 102.48

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
19 Jun 2008 09:49:38


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London

London shares flat early on as weakness among banks offset oil gains

At 9:04 a.m. the FTSE 100 index was off 1.7 points at 5,755.2, having closed down 105.0 points at 5,756.9 Wednesday, while the FTSE 250 index was down 101.4 points at 9,433.4.

Wall Street sank Wednesday for the second straight day on renewed concerns about the financial sector and FedEx Corp.'s warning that weakening demand and surging fuel costs would weigh on its profits in the coming year.

All three major stock indexes finished lower, as oil and bond prices jumped. The DJIA fell 131.24 points to 12,029.06, the S&P 500 index dropped 13.12 points to 1,337.81, and the Nasdaq composite index fell 28.02 points to 2,429.71.

In Asia, the mood was also subdued, with the Hang Seng index ending its morning down 432.69 points at 22,893.11, and the Nikkei 225 index closing down 322.65 points at 14,130.17.

In London, weakness among banks weighed on the FTSE 100. HBOS was the worst off, down 12-3/4 pence at 306, with Barclays falling 8-1/2 pence to 317-3/4, Alliance & Leicester, down 8 pence at 314-3/4, and Lloyds TSB, off 8 pence at 33-1/4.

"The banks are down after some weakness in U.S. financials overnight, and although news from HBOS was broadly reassuring, it did talk about house prices being down about 9 percent over the course of this year, which is more than they said a few months ago," said Keith Bowman from Hargreaves Landsdown.

A rise in oil price Wednesday translated into weakness among big fuel users, with cruise operator Carnival slipping 58 pence to 1,665, British Airways down 6 pence at 219-3/4, and midcap easyJet shedding 11 pence to 290-3/4.

Conversely, oil stocks were in demand, tracking the oil price gains, and after a European Energy sector review from Goldman Sachs, in which the broker increased its oil price forecasts to reflect a continued tightening of global crude oil supply/demand fundamentals and the resulting higher oil prices.

Cairn Energy, which Goldman Sachs upgraded to 'buy' from 'neutral' was the top FTSE 100 riser, up 112 pence at 3,334, with Royal Dutch Shell adding 16 pence to 2,031-1/2, BP adding 5 pence to 584-3/4, and BG Group, helped by a Sanford Bernstein upgrade to 'outperform' from 'market perform', taking on 27 pence to 1,261.


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Meanwhile, Cadbury added 4 pence to 629, after the group's trading statement which, as anticipated, pointed to the group's ongoing strong performance.

Earlier, the confectionery group said its first like-for-like revenue growth is expected to be above its 4-6 percent target range after it said its second quarter performance was modestly higher than the 7 percent growth reported for the first quarter.

Citigroup said the trading update was largely 'as expected' and said Cadbury looks well positioned for a strong full-year performance and margin progression materially in excess of 100 basis points. Also gaining after a trading statement was Centrica, adding 2 pence to 308, after the UK energy supplier said that it continues to trade in line with the guidance provided in its Interim Management Statement on May 12.

In its update, Centrica added no further information to the interim statement which said that overall operating profit in the first half would be slightly lower because of lower profits in its retail business.

Meanwhile, Vodafone ticked up 0.6 pence to 150.7. The company has pulled out of the Tiscali auction because of a disagreement over the Italian Internet company's valuation, say people close to the deal, according to the Financial Times.

On the second tier, a bullish trading update propelled Go-Ahead to the top of the leaderboard, up 9 percent or 137 pence at 1,660, with the train and bus operator saying its expectations on its prospects for the full year are ahead of April's view. Citigroup repeated its 'buy' recommendation and said it would lift its earnings estimates for both the current year and 2009.

Elsewhere, GW Pharmaceuticals took on 4 pence to 51-3/4, after the company, which develops cannabinoid medicines, said its first-half pretax loss narrowed sharply as revenues rose on the back of the company's agreements with Otsuka.

Meanwhile, strength was seen from Redrow and Bovis Homes, as Citigroup lifted its ratings on the companies to 'buy' from 'sell', and to 'hold' from 'sell', in a review of the UK housebuilding sector in which the broker said the near-term looks ugly, but there are opportunities for longer-term investors.


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Redrow took on 6-1/4 pence to 144, and Bovis Homes added 1-1/4 pence to 344. A broker upgrade also provided the impetus for a rise in Pennon's share price, up 16-1/2 pence to 640-1/4, as Morgan Stanley lifted its rating to 'overweight' from 'equal-weight', while raising its price target to 730 pence from 645 pence, as it reviewed its water utilities coverage.

In the note, the broker said it thinks UK regulated utilities should provide a safe haven and perform well as inflation persists.

Elsewhere in the sector, Severn Trent added 2 pence to 1,361, despite being downgraded by Morgan Stanley to 'equal-weight' from 'overweight', following the stock's good performance since its full-year results earlier this month.

On the macro front, May retail sales are predicted to have held up despite the prevailing gloom, with no change seen between May and April. The annual rate is seen at a 4.2 percent rise in May. April saw a monthly fall of 0.2 percent but an annual gain of 4.2 percent. Public finances for May are seen weakening after a strong start to the fiscal year in April, in figures released tomorrow.

PSNB is seen at 9.5 billion pounds in May after a 9.0 billion pound reading in the same month the previous year. PSNCR is seen growing to 7.0 billion from 6.0 billion in May 2007. Also due out Thursday is UK May provisional M4/M4 lending, and UK CML May mortgage lending.

In the U.S., the Labor Department will release its weekly jobless claims numbers Thursday. The number of people filing first-time claims for unemployment insurance is expected to total 375,000 in the week ending June 14.

That is below the 384,000 reported in the previous week. The number of individuals continuing to file claims for unemployment is expected to total 3.150 million in the week ending May 31. That is above the previous week's over four year high of 3.139 million. The Philadelphia Fed survey of manufacturing conditions is expected to improve in June, to a level of -10.0 from -15.6 in the previous week.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here


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Milan

Milan shares TFN market data at 9:24 a.m.: Tiscali slumps; Prysmian, Tenaris up

Main indices:
Mibtel at 23,520 points, down 0.34 percent
S&P/Mib at 30,366 points, down 0.32 percent

Main S&P/Mib losers
Seat Pagine Gialle down 4.08 percent at 0.0822 euros, a record low. Since the start of the year the share has lost almost 66 percent of its value

Gruppo Editoriale l'Espresso down 2.61 percent at 1.645 euros
Finmeccanica down 2.24 percent at 17.08 euros
Mediolanum down 2.11 percent at 2.9975 euros
Telecom Italia down 1.54 percent at 1.28 euros

Main S&P/Mib gainers
Prysmian up 1.19 percent at 17.30 euros
Tenaris up 1.13 percent at 20.16 euros
Terna up 0.53 percent at 2.84 euros

Saipem up 0.29 percent at 27.85 euros
Snam Rete Gas up 0.47 percent at 4.28 euros

Other stocks in the news
Tiscali down 6.61 percent at 2.0975 euros, returning to lows not seen since April, after reports that Vodafone had abandoned the auction to buy the Italian Internet service provider on a disagreement over its valuation

Alleanza down 0.20 percent at 7.385 euros. Daily Il Sole 24 Ore quoted the insurer's chairman Amato Luigi Molinari as saying that the insurer's new premiums rose at a double digit rate in the first five months of the year

Generali down 0.24 percent at 25.07 euros. Generali controls Alleanza


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Paris

Paris shares TFN market data 10.30 am; shares lower on high oil prices

Major indices:
CAC-40 down 20.33, or 0.44 percent, at 4,603.43
SBF-80 down 59.27, or 1.09 percent, at 5,357.25
SBF-120 down 17.99, or 0.54 percent, at 3,338.95

6 CAC-40 stocks up
34 CAC-40 stocks down

Major gainers:
Vallourec, up 5.36 or 2.66 percent at 205.61, benefiting from high oil prices Total, up 0.17 or 2.27 percent at 52.76 after upgrade to 'buy' from 'neutral', addition to Goldman Sachs' conviction buy list EDF up 0.78 or 1.25 percent at 63.24

Major losers:
EADS, down 0.35 or 2.58 percent at 13.20 after the U.S. GAO upheld Boeing's protest at the award of a U.S. Air Force contract for 179 tanker aircraft to EADS and Northrop Grumman

Unibail-Rodamco, down 5.47 or 3.51 percent at 150.24 after UBS downgrade to 'neutral' from 'buy' Renault, down 2.01 or 3.53 percent at 54.88 and Peugeot, down 0.97 or 2.66 percent at 35.55 as high oil prices weigh on automobile stocks

Most active stocks:
Credit Agricole, down 0.27 or 2.03 percent at 13.04; 6.3 million shares traded Total, 2.7 million shares traded


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Amsterdam

Amsterdam shares TFN market data at 10.02 a.m. - lower

MAJOR INDICES
AEX 448.27 points, down 2.30 points or 0.51 percent
AMX 623.75 points, down 9.78 points or 1.54 percent
Government bonds mainly higher

MAJOR DECLINERS
Property stock Unibail-Rodamco led blue chips lower, off 3.69 percent at 149.90 euros, after UBS cut the group to 'neutral' from 'buy'

Heineken fell 2.86 percent to 33.57 euros

Fortis was off 1.52 percent at 12.97 euros on reports it is mulling the sale of its 49 percent stake in Chinese investment bank ABN Amro Teda

Midcap issue CSM dropped 2.02 percent to 24.26 euros. Petercam downgraded its rating on the stock to 'hold' from 'buy', but upped its target to 30 euros from 28.50

MAJOR GAINERS
Unilever gained 1.33 percent to 19.47 euros after saying it has agreed to sell its Ivory Coast edible oil business together with its interests in local oil palm plantations Palmci and PHCI

ASMI added 0.38 percent to 21.0 euros. Company founder Arthur del Prado met privately with Applied Materials in April, apparently encouraging the company to make a bid for certain front-end operations. The bid upped the value of these operations in the eyes of the market, helping in the fight against activist shareholders, Dutch daily Het Financieel Dagblad reported on Thursday

Shell climbed 0.98 percent to 25.80 euros. The oil producer said it has shut down production at a Nigerian oil field that produces about 200,000 barrels per day after a militant attack.

Forex
London 0756 GMT Hong Kong 0500 GMT
London 0756 GMT Hong Kong 0500 GMT
U.S. dollar
yen 107.59 down from 107.67
Swiss franc 1.0377 up from 1.0336
Euro
U.S. dollar 1.5539 down from 1.5561
pound 0.7920 down from 0.7942
yen 167.20 down from 167.56
Swiss franc 1.6125 up from 1.6096
Pound
U.S. dollar 1.9616 up from 1.9599
yen 211.05 up from 210.93
Swiss franc 2.0354 up from 2.0256
Australian dollar
U.S. dollar 0.9465 down from 0.9471
pound 0.4827 down from 0.4830
yen 101.82 down from 101.91

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
13 Jun 2008 09:51:51


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London

London shares lower in early trade after U.S. gains scaled back

At 9:02 a.m., The FTSE 100 index was 53.6 points lower at 5,736.9, while the FTSE 250 was down 75.1 points at 9,479.1. On Thursday, the FTSE 100 rose 67.2 points to close at 5,790.5.

In the U.S., stocks wobbled as another rise in oil prices - to more than $136 a barrel - sapped a big rebound that followed upbeat retail sales data and a buyout bid for Anheuser-Busch Cos.

By the close, the Dow was up 57.81 points, or 0.48 percent, at 12,141.58. The Dow had been up by as much as 185 points earlier in the session. The Standard & Poor's 500 index closed up 4.35 points at 1,339.85, while the Nasdaq composite index rose 10.34 points at 2,404.35.

In Asia today, Hong Kong's Hang Seng index finished the morning down 172.80 points or 0.75 percent at 22,851.06. But Japan's Nikkei 225 ended the day up 85.13 points, or 0.6 percent, at 13,973.73.

Back in London, British Airways was the biggest FTSE 100 faller, down 9 pence at 231, a victim of the higher oil price.

Brewer SABMiller was down 30 at 1,170, on fading hopes of attracting an offer, in the wake of InBev's bid for Anheuser-Busch Cos. Miners were generally lower, despite metals prices holding up reasonably well. Lonmin was down 83 at 135.8; Kazakhmys was 33 lower at 1,654.

On the upside, Carphone Warehouse recovered a little of the ground lost yesterday after its full-year results. Citigroup has upgraded the shares to 'hold' from 'sell', while cutting the target to 235 pence, from 290. Carphone edged up 1-1/4 to 203-3/4.


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Banks continued to rebound from recent weakness. HBOS was the biggest gainer, up 16 at 299, building on Thursday's 25 pence gain. The company is raising 4 billion pounds, with a rights issue at 275 pence.

Alliance & Leicester, which will be relegated to the FTSE 250 at the end of next week, was up 11-1/2 at 317. Barclays was up 4-1/4 at 319.

Royal Bank of Scotland rose 2 to 231 after announcing the 3.6 billion pounds sale of train-leasing business Angel Trains to a consortium led by Australian infrastructure group Babcock & Brown.

Among the midcaps, auto products retailer Halfords was down 5-1/4 at 263-3/4 after HSBC downgraded it to 'neutral' from 'overweight' and cut its price target to 285, from 380.

Budget airline easyJet was 4 lower at 291-1/4. As well as higher oil prices, it suffered a downgrade to 'sell' from 'buy' at Goldman Sachs, which slashed its target to 223, from 420.

Recruiter Michael Page International was 4 lower at 262, after small cap rival Hydrogen warned on profits due to a weaker market in investment banking. Altium reiterated its 'sell' on Michael Page with a 200 pence target.

On the upside, Johnston Press rose 14-3/4 to 72-1/2, after recent weakness. Housebuilders also continued to bounce from recent falls. Taylor Wimpey was up 6-3/4 at 67-3/4; Barratt Developments was up 6-3/4 at 83.


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US Summary:
For a summary of US stocks at yesterday's close of trade, Click here

Milan

Milan shares TFN market data at 9.21 a.m.: l'Espresso, Tenaris lead fall

Main indices:
Mibtel at 23,783 points, down 0.56 percent
S&P/Mib at 30,685 points, down 0.66 percent

Main S&P/Mib losers
Gruppo Editoriale l'Espresso down 2.36 percent at 1.699 points
Tenaris down 2.03 percent at 20.27 euros
Mondadori down 1.82 percent at 4.21 euros
Pirelli down 1.54 percent at 0.4785 euros
Enel down 1.49 percent at 6.745 euros

Main S&P/Mib gainers
Fastweb up 2.81 percent at 20.25 euros as Goldman Sachs upgraded the stock to 'buy' from 'neutral' but cut the target to 25.5 euros from 28.8 euros Seat Pagine Gialle up 2.21 percent at 0.088 euros

Snam Rete Gas up 1.35 percent at 4.3025 euros as Morgan Stanley upgraded the stock to 'overweight' from 'equal-weight' and raised the target to 4.75 euros from 4.60 euros

Fiat up 1.01 percent at 12.82 euros as Goldman Sachs raised its price objective to 21 euros from 19 euros while keeping its 'buy' stance on the stock. European car registration figures for May earlier showed a 7.8 percent drop while for the Fiat group the contraction was limited to 4.5 percent

Other stocks in the news
Terna off 0.14 percent at 2.82 euros as Morgan Stanley raised its price objective to 3.2 euros from 3.0 euros saying that it prefers Italian utilities over their Spanish peers.

Impregilo down 0.30 percent at 3.4625 euros. According to reports the construction group is in pole position to win a project to carry out infrastructure in Tripoli, Libya


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Paris

Paris shares TFN market data at 10.40 am; EDF leads shares lower

Major indices:
CAC-40 down 42.76 points or 0.92 percent at 4,629.54
SBF-80 down 54.38 or 0.99 percent at 5,426.38
SBF-120 down 34.23 or 1.01 percent at 3,361.52

5 CAC-40 stocks up
35 CAC-40 stocks down

Major gainers:
Michelin, up 1.61 euros or 3.35 percent at 49.62. Peugeot, up 0.51 or 1.42 percent at 36.42. Goldman Sachs upgraded Michelin to 'buy' from 'sell' and Peugeot to 'buy' from 'neutral', and added both groups to its 'conviction buy' list

Veolia Environnement, up 0.78 or 2.00 percent at 39.80. Cheuvreux raised its recommendation on the water and waste group to 'outperform' from 'underperform' after the recent fall in the share price

Club Med, 0.21 or 0.62 percent ahead at 33.86, off earlier highs. First half results were more or less in line, but analysts are sceptical the group can keep up the trend

Eiffage, 1.31 or 2.57 percent higher at 52.26. SG Securities raised its recommendation to 'buy' from 'hold'

Major losers:
EDF, down 1.95 or 3.00 percent at 63.05, amid ongoing concerns that electricity tariffs may be liberalised later than expected, weighing on profits. The Financial Times also claimed Friday that EDF is prepared to raise its bid for British Energy Group but only if the board of the UK nuclear group moves quickly to recommend the offer

Credit Agricole, down 0.34 2.40 at 13.83; Societe Generale, down 1.08 or 1.85 percent at 57.22; BNP Paribas, down 1.10 or 1.79 percent at 60.19. Bank stocks are shedding Thursday's gains. In a note Friday, Citigroup analysts said the capital deficit for European banks has now increased by a further 20 percent and stands at over 250 billion euros

Most active stocks:
Credit Agrciole, 4.35 million shares traded Alcatel-Lucent, down 0.07 or 1.66 percent at 4.15. 2.44 million shares traded


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Frankfurt

German shares TFN market data at 9:38 a.m.

DAX down 26.54 points, or 0.40 percent, at 6,687.98
MDAX down 31.90 points, or 0.33 percent, at 9,493.68
TecDAX down 3.58 points, or 0.44 percent, at 808.50
DAX futures flat at 6,692.50

MAJOR DECLINERS:
BMW, down 0.72 euros or 2.14 percent at 32.95, as Goldman Sachs cut the stock to 'neutral' from 'buy' and reduced its 12-months price target to 44 euros versus 49 previously. The brokerage also downgraded its coverage view of the European automobiles sector to 'neutral' from 'attractive' as it believes the auto sector will trade within a 'fat and flat' range, with near-term consumer-driven risks and input cost risks balanced by fundamental value upside.

ThyssenKrupp, down 0.83 euros or 1.99 percent at 40.87. Deutsche Lufthansa, down 0.28 euros or 1.79 percent at 15.35, weighed down by persistent caution about high crude oil prices. Daimler, down 0.64 euros or 1.46 percent at 43.09, following Goldman's European automobiles sector review

TUI, down 0.20 euros or 1.26 percent at 15.69

MAJOR ADVANCERS
Infineon, up 0.095 or 1.51 percent at 6.38.
Continental, up 0.93 euros or 1.45 percent to 64.95.

Siemens, up 1.00 euros or 1.38 percent to 73.52, after Goldman Sachs added the stock to its 'conviction buy' list as it sees it offering "an attractive opportunity-risk profile" to investors.

Allianz, up 0.26 euros or 0.23 percent at 112.94, following reports that said it is currently granting several potential bidders for its Dresdner Bank detailed insight into the institute's financial accounts.

MAN, up 0.13 euros or 0.15 percent to 88.04.


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Forex
London 0745 GMT Hong Kong 0500 GMT
U.S. dollar
yen 108.00 up from 107.80
Swiss franc 1.0448 up from 1.0420
Euro
U.S. dollar 1.5409 down from 1.5435
yen 166.44 up from 166.40
Swiss franc 1.6105 up from 1.6088
pound 0.7922 down from 0.7926
Pound
U.S. dollar 1.9446 down from 1.9467
yen 210.04 up from 209.87
Swiss franc 2.0325 up from 2.0292
Australian dollar
U.S. dollar 0.9373 down from 0.9394
pound 0.4819 down from 0.4825
yen 101.27 up from 101.26

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
10 Jun 2008 10:00:28


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London

London shares lower early on; Asia overshadows DJIA rally; banks weigh

UK blue chips opened were lower in early trade, after falls in Asian markets overshadowed an attempt at recovery from the DJIA, with banks weighing in London after worrying news from Lehman Brothers. At 9:04 a.m., the FTSE 100 index was off 44.7 points at 5,832.9, while the FTSE 250 index lost 91.3 points to 9,650.0.

Overnight in the U.S., stocks closed mixed Monday, with Wall Street exhausted from last week's drop and still nervous about the effect of bank losses and energy costs on the economy. The DJIA rose 70.51 points to 12,280.32 after Friday's rout, which was the worst tumble on Wall Street in 15 months.

Broader stock indicators finished mixed. The Standard & Poor's 500 index rose 1.08 points to 1,361.76, while the Nasdaq composite index fell 15.10 points to 2,459.46.

"Despite the rally on the Dow, it is nowhere near to repairing the damage done last week," said Matt Buckland from CMC Markets.

Over in Asia, the mood was gloomy, with the Hang Seng index down 1,011.27 points, at 23,390.89, and the Nikkei 225 index 160.21 points lower at 14,021.17.

Hong Kong shares fell, tracking the Shanghai market which dropped by more than 5 percent, after mainland authorities unexpectedly raised the reserve requirement on deposits of banks, hurting sentiment for mainland lenders and insurers.

Back with UK equity movements, banks were out of favour, after Lehman Brothers said Monday that wrong-way trading moves and risky mortgage-backed securities plunged it into a nearly $3 billion second-quarter loss, marking the first time Lehman was unable to post a profit since going public in 1994.

The bank also revealed plans to raise $6 billion to strengthen its balance sheet.

HBOS was the worst off, shedding 11 pence to 296, while Barclays slipped 10-1/4 pence to 308-1/4, Royal Bank of Scotland dropped 6-3/4 pence to 227, and Lloyds TSB lost 8-1/2 pence to 348-1/4.

Housebuilders were also among the morning's casualties.

Persimmon was the top FTSE 100 faller, down 27 pence at 401-3/4, as Goldman Sachs downgraded its rating on the company to 'sell' from 'neutral', saying it does not expect it to remain insulated from an accelerating housing downturn and potential land writedowns, despite its positive view of the company's disciplined management team and high-quality strategic land assets.


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Midcap Redrow also suffered after a downgrade, with its shares off 16-3/4 pence at 180-3/4, as Goldman Sachs cut its stance to 'sell' from 'neutral'. The broker said that given the market's aversion to housebuilders with high gearing, it expects Redrow to underperform in the current environment.

Away from the housebuilders, but also on the back foot after a broker downgrade was ICAP, down 10 pence at 580-3/4, as Credit Suisse cut its recommendation 'underperform' from 'neutral', while lowering its price target to 535 pence from 610 pence.

The broker said it believes ICAP will not be immune from the slowdown in volumes across various product areas which has hit exchanges and investment banks since the start of ICAP's new financial year in April 2008.

In results news, Tesco shares fell 11.3 pence to 390.6, as the retailer reported Tuesday a slowdown in UK underlying sales as its first-quarter progressed as consumers cut back on spending in non-food areas.

Responding, Merrill Lynch repeated its 'neutral' recommendation.

On the M&A front, British Energy slipped 4-1/2 pence to 716-1/4, with the Independent reporting that the auction of the company has plunged into doubt as EDF refuses to increase its offer.

On the upside, good gains were seen among oil companies, as crude oil prices rose in Asian trade Tuesday, and as Citigroup said it was raising its price forecast for oil to $117 a barrel in 2008 and $123 in 2009, and its long-term forecast to $100 from $75.

The broker added Royal Dutch Shell to its existing Buys, lifted its target to 2,400 pence from 2,000, while upgrading BP to 'hold' from 'sell', and hiking its target to 600 pence from 540.

Oil majors Royal Dutch Shell and BP took on 14 pence to 2,101 and 1-1/2 pence to 596-1/4, respectively.

Tullow Oil, meanwhile, added 15-1/2 pence to 934-1/2, as Citigroup lifted its target to 1,100 from 910, and as the company said it has agreed to sell its 51.7 percent stake in the offshore Hewett Unit fields in the North Sea to Italian energy group Eni for 210 million pounds in cash.

Miners were also in demand, with Eurasian Natural Resources the top FTSE 100 riser, adding 90 pence to 1,415, as Kazakhmys, the largest copper producer in Kazakhstan, said it will acquire a further 7.66 percent stake in ENRC from the government of Kazakhstan, but added that it has no current intention of making a full offer for the company.

Kazakhmys shares took on 23 pence to 1,650.


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ENRC shares were also helped by comment from Morgan Stanley, which named the company, alongside Vedanta Resources, its top pick.

Vedanta Resources climbed 69 pence to 2,352, as Morgan Stanley initiated coverage as 'overweight' with a 3,500 pence price target.

On the second tier, a Goldman Sachs downgrade helped send shares in Northern Foods lower, off 3-1/2 pence at 71-1/4, as the broker cut its rating to 'neutral' from 'buy' as part of a European food producers note in which the broker remains 'neutral' on the sector.

In a research note published Tuesday morning, Goldman Sachs told investors that despite stocks trading on depressed valuation multiples, it does not see the current sector situation as a buying opportunity, but rather it believes a potential value trap is emerging and could remain in place until there is an alleviation in the commodity or utility cost backdrop.

On a brighter note, a number of midcaps were lifted by broker upgrades.

Soco International added 107 pence to 1,973, as Citigroup raised its recommendation to 'buy' from 'hold'.

Also gaining after a broker upgrade was Misys, which added 7-1/2 pence to 151-1/2, as UBS raised its recommendation on the stock to 'neutral' from 'sell'.

And finally, Cookson Group added 14 pence to 745, as Goldman Sachs upped its rating to 'buy' from 'neutral'.


UK Diary of Events:
For a diary of key financial and corporate events in the UK today, click here

US Summary
For a summary of US stocks at yesterday's close of trade, click here


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Paris

PARIS - Market data at 10.45 am:

Major indices:

CAC-40 down 56.54 points or 1.18 percent at 4,742.84

SBF-80 down 74.09 or 1.33 percent at 5,517.21

SBF-120 down 41.12 or 1.18 percent at 3,443.75

1 CAC-40 stocks up

39 CAC-40 stocks down

Major gainers:

France Telecom, up 0.30 euros or 1.68 percent at 18.21, extending Monday's rebound as investors see a decreasing likelihood that the group will bid for Teliasonera

Iliad, 0.03 or 0.05 percent higher at 63.48. SG Securities upgraded the stock to 'Buy' from 'Hold' and raised its price target to 72 euros from 66 after the group's bid for Telecom Italia's Alice

Major losers:

Dexia, down 0.35 or 2.56 percent at 13.32. Exane BNP Paribas downgraded the stock to 'underperform' from 'outperform'. Bank stocks are under pressure across the board after the recent run of negative newsflow, including Lehmans' announcement Monday of an unexpectedly large quarterly loss and $6 billion capital increase

Veolia Environnement, down 2.18 or 4.76 percent at 43.65. Merrill Lynch reinstated coverage of the stock with an 'underperform' recommendation

Sanofi-Aventis, down 1.18 or 2.70 percent at 42.57, amid market talk that Total is looking to sell its 12.64 percent stake in the pharmaceuticals group

Seloger.com, 1.77 or 8.05 percent lower at 20.23. Cheuvreux downgraded the group to 'underperform' from 'outperform'

Most active stocks:

France Telecom, 4.49 million shares traded

Credit Agricole, down 0.06 or 0.43 percent at 13.95. 4.40 million shares traded


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Frankfurt

FRANKFURT - Market data at 10:18 a.m.

DAX down 69.73 points, or 1.02 percent, at 6,745.90
MDAX down 114.18 points, or 1.19 percent, at 9,454.31
TecDAX down 14.19 points, or 1.69 percent, at 823.89
DAX futures down 67.00 points, or 0.98 percent, at 6,755.00

Major decliners

ThyssenKrupp, down 1.34 euros or 2.13 percent at 61.54, currently the worst performer in low-volume trade, which has shown many changes in the leaderboard this morning

Deutsche Bank, down 1.34 euros, or 2.13 percent at 61.54 following a general slump in financial stocks this morning

Deutsche Boerse, down 1.74 euros, or 2.08 percent, at 82.06, perhaps due to pressure from the company's announcement earlier announcement of a 15 percent drop in May settlement transactions in its Clearstream unit

Commerzbank, down 0.40 euros, or 2.06 percent, at 19.00, also down due to low demand for financials

Deutsche Post, down 0.39 euros, 2.02 percent, at 18.91

Major advancers

Volkswagen, up 0.46 euros, or 0.26 percent, at 176.08, continuing gains from yesterday on reports the automaker has concluded several contracts with U.S. suppliers as part of plans to increase the company's exposure in the U.S.-dollar denominated region and will cut costs on its next-generation VW Golf
by about 1,000 euros per vehicle.


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Forex


London 0855 Hong Kong 0500 GMT
U.S. dollar
yen 106.69 unchanged yen 106.69
Swiss franc 1.0339 up from Swiss franc 1.0294
Euro
U.S. dollar 1.5559 down from U.S. dollar 1.5579
yen 166.00 down from yen 166.47
Swiss franc 1.6088 up from Swiss franc 1.6067
pound 0.7935 up from pound 0.7924
Pound
U.S. dollar 1.9614 down from U.S. dollar 1.9692
yen 209.19 down from yen 210.06
Swiss franc 2.0266 down from Swiss franc 2.0274
Australian dollar
U.S. dollar 0.9483 down from U.S. dollar 0.9494
pound 0.4835 up from pound 0.4820
yen 101.10 down from yen 101.25

[Raggedy Man]

PDOS: "Shrek" Producer John H. Williams and Platinum Studios, Inc. Create Comic Book Imprint: Vanguard Comics
Friday June 6, 6:00 am ET
The New Imprint is Looking for Fantastic Worlds and Great Characters.

LOS ANGELES--(BUSINESS WIRE)--Platinum Studios, Inc. (OTCBB:PDOS - News), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media and Vanguard Animation, the film production entity created by the producer of the Shrek franchise, announced the creation of a new comic book imprint called Vanguard Comics. Vanguard Animation is 30% owned by Starz Media, LLC, which in turn is a wholly owned subsidiary of Liberty Media Corporation that is attributed to Liberty Capital Corp (NASDAQ:LCAPA - News)(NASDAQ:LCAPB - News).

This co-run imprint, which began life when Platinum Studios Chairman and CEO, Scott Mitchell Rosenberg, invited Vanguard Animation Chairman, John H. Williams, to be a judge at last year’s Comic Book Challenge™ (www.ComicBookChallenge.com), enables Vanguard Animation to develop properties that can simultaneously launch as comic books or graphic novels and as feature films.

The venture has acquired its first property, “Illegal Aliens”, which was one of the Top 50 finalists in last year’s Comic Book Challenge™. The story concerns a skeptical tabloid news reporter sent down to a border town in Texas to investigate cattle mutilations. The reporter inadvertently taps into a myth that dates back to Mayan times: the terrifying, primeval Chupacabra monster.

A film version of the project is being developed simultaneously.

“When Scott asked me to be a part of The Comic Book Challenge™, I thought that it would be a great way to hear story concepts,” said Williams. “Scott and I both immediately agreed that ‘Illegal Aliens’, which is a full throttle horror thriller in the spirit of Aliens and Predator, had franchise potential.”

Added Vanguard’s Williams: “Out of that enthusiasm, was born Vanguard Comics, where fantastical worlds are grounded in great character based dramatic-action story telling."

“When I asked John to be a part of last year’s Comic Book Challenge™, I was hoping that something like this would come out of it,” said Platinum Studios’ Rosenberg.

‘Illegal Aliens’ was created by Kevin MacDougall, a freelance illustrator, who has done comic book work and commercial art for many companies over the past 12 years. He currently lives in Mooseheart, IL.

Submissions for The 2008 Comic Book Challenge™ close on June 14, 2008.

About Platinum Studios, Inc.

Platinum Studios (OTCBB:PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile / wireless, gaming, and merchandising. Platinum Studios’ library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as www.DrunkDuck.com, the industry’s preeminent webcomics community. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms. Platinum Studios - Comics Fueling Media EVERYWHERE!

To learn more about the company and to sign up for our newsletter, please visit our website at http://www.platinumstudios.com/news/index.php.

About Vanguard Animation (http://www.vanguardanimation.com)

Vanguard Animation is a producer of animated and live action feature films (through its sister skein Vanguard Films), with tie-ins to video games and marketing. Current projects in or nearing production include ON THE ROAD, in co-production with Zoetrope Studios and to be directed by Walter Salles; THE TWITS in collaboration with Universal Pictures and Working Title, Ltd.; and the upcoming animated feature film SPACE CHIMPS, which Fox will release theatrically in the U.S. on July 19, 2008.

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios.

Contact:
Media Requests:
Platinum Studios, Inc.
310-807-8100
[e-mail]
or
Vanguard Animation
Rob Moreland, 310-360-8039
[e-mail]
or
Platinum Investor Requests:
Platinum Studios, Inc.
Thomas Becker, 702-478-7363
[e-mail]

--------------------------------------------------------------------------------
Source: Platinum Studios, Inc.

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
05 Jun 2008 09:58:31


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London

London shares higher in early deals; NY, Asia mixed; rate decisions key

LONDON - UK blue chips pushed higher in early deals, rallying after mixed performances overnight in New York and Asia, with banks, housebuilders and retailers in the vanguard of the advance and any underlying caution ahead of key interest rate decisions in the UK and Europe shrugged aside.

At 9:20 a.m., the FTSE 100 index was 28.7 points lower at 5,999.8, having closed 87.6 points weaker on Wednesday.

Overnight on Wall Street, the DJIA ended 12.37 points lower at 12,390.48, while the broader S&P 500 index was down 0.45 points at 1,377.20, but the Nasdaq composite index ended 22.66 points firmer at 2,503.14.

The mood was also mixed in Asia. Japan's Nikkei 225 index closed 94.45 points higher at 14,341.12, but Hong Kong's Hang Seng Index ended 132.04 points firmer at 24,255.29.

All eyes in London will be on the lunchtime interest rate decisions. The Bank of England is expected to keep borrowing costs unchanged following the latest monthly Monetary Policy Committee meeting as concerns over the inflation outlook dominate amid mounting evidence of a sharp UK economic slowdown.

And the welter of evidence showing the UK housing market is faltering continued to mount after another key survey revealed a steep fall. HBOS unit Halifax's housing market survey showed a 2.4 percent fall in May. Prices were forecast to fall 1.0 percent after a 1.3 percent decrease in April.

The annual rate in May fell 3.8 percent against predictions of a 3.5 percent drop. The latest drop was also far worse than the 0.9 percent fall in April.

And the European Central Bank is also expected to keep its interest rates unchanged after Thursday's Governing Council meeting, with a rate cut now looking unlikely before the fourth quarter of this year, according to a poll of economists by Thomson Financial News and Agence France-Presse.


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In London, a rally by banking issues provided the main fuel for the early FTSE 100 advance, with the sector attracting some bargain hunters after recent sharp falls helped by recent talk private equity firm Texas Pacific Group could look to take further stakes in the banks after news it is to acquire a stake in mid cap Bradford & Bingley on Monday.

Royal Bank of Scotland was a top performer, up 8-1/2 pence at 258 ahead of the close on Friday of its mammoth 8 billion pounds rights issue and amid recent vague talk of hedge fund stake building. HBOS recovered 9-3/4 pence at 350-1/4, having confirmed the timetable for its own rights issue, while Barclays took on 10 pence at 362 and Bradford & Bingley firmed 1-3/4 pence to 70-1/2.

Housebuilders also rebounded after sharp falls over the past few sessions amid some bargain hunting ahead of the UK interest rate decision despite the depressing Halifax house price survey and a further dull trading update in the sector.

Mid cap Bellway said the deterioration in the market since Feb. 1 has resulted in the construction firm's net reservations being down 31 percent, adding there has been no sign of the normal spring selling surge since March 26.

But with the gloomy statement much as expected, Bellway shares managed to rally 14 pence higher at 608, with Landsbanki reiterating its 'buy' stance on the stock, while mid cap peer Bovis Homes added 12 pence at 400, Redrow gained 9-1/2 pence at 223-1/2, Taylor Wimpey firmed a penny at 79 and blue chip Persimmon took on 13-3/4 pence at 468-1/2.

Retailers also recovered, with Kingfisher taking on 2.4 pence at 138.3 after Thursday's reassuring sales news with its first-quarter results, while Home Retail Group added 9-3/4 pence at 248-1/4 helped by a recent Seymour Pierce upgrade, and Marks & Spencer took on 6-1/4 pence at 386-3/4.

But not everything was rosy on the high street, with food retailer Wm.Morrison shedding 8 pence to 284-1/4 after it reported continuing robust but slower sales growth over its first quarter.

The Bradford-based group said like-for-like sales, excluding fuel, increased 7.0 percent for the 13 weeks to May 4. This compares with analyst forecasts of a rise of 6.5 percent to 8 percent for the 370-store group. In reaction, Numis Securities cut its stance for Wm.Morrison to 'hold' from 'buy'.


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Among the other blue-chip fallers, miners were once again the main casualties, suffering from weaker metal prices and some negative sector comment.

Lonmin was the worst off, down 98 pence at 3,356 after Goldman Sachs cut its stance to 'neutral' from 'buy' and reduced its target after reducing earnings forecasts for companies with exposure to the South African rand in a metals review.

Anglo American also fell, losing 72 pence at 3,329 although Goldman Sachs raised its target for the stock, while BHP Billiton shed 35 pence to 1,865 and Rio Tinto dropped 95 pence to 5,909. Meanwhile specialty chemicals and precious metals group Johnson Matthey was also a faller, shedding 39 pence at 2,000 on profit taking following its full-year results.

The firm said its prospects remained "very encouraging" despite the slowdown in the U.S. market as it reported a 16 percent increase in annual pretax profit to 265.4 million pounds, up from 229.3 million previously and ahead of the consensus forecast of 258.7 million pounds.

On the second line, however, the day's results were taken more positively. Premier Farnell was the top riser, adding 8-1/2 pence at 176-1/2 after reporting a 37 percent rise in first-quarter pretax profit and said it is confident of further progress in the current year.

Meanwhile, Halfords added 8 pence at 274-1/2 and fellow mid cap retailer WH Smith firmed 3-1/2 pence at 403 after well-received numbers from both. On the macro front, ahead of the interest rate decisions, no key economic pointers are due for release on Thursday so the main data focus will be across the Atlantic on U.S. weekly initial jobless claims numbers.

The number of individuals filing first-time claims for unemployment is expected to total 374,000 in the week ending May 31, up from 372,000 in the previous week.

After Wednesday's above-forecast ADP employment survey, Thursday's figures will be an indicator for Friday's key May U.S. non-farm payrolls, always a closely watched and volatile barometer of the health of the world's biggest economy.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here


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Milan

Milan shares TFN market data at 9.45 a.m.; Atlantia, Telecom Italia lead gains

Main indices:
Mibtel at 25,130 points, up 0.14 percent
S&P/Mib at 32,554 points, up 0.14 percent

Main S&P/Mib gainers
Lottomatica up 2.16 percent at 18.43 euros as JP Morgan upped the stock to 'overweight' from 'neutral' while keeping unchanged its price objective of 25 euros

Telecom Italia up 2.08 percent at 1.421 euros after announcing an efficiency plan that envisages about 5,000 job cuts in Italy by 2010 and a subsequent reduction in costs of about 300 million euros per year

Atlantia up 1.71 percent at 23.19 euros after the Senate approved Wednesday the tariff convention between motorway regulator ANAS and Atlantia's main operating unit Autostrade per l'Italia

STMicroelectronics up 1.56 percent at 8.39 euros
Autogrill up 1.53 percent at 9.43 euros

Main S&P/Mib losers
Saipem down 1.89 percent at 27.99 euros
Tenaris down 1.15 percent at 19.19 euros

Intesa Sanpaolo down 0.74 percent at 4.0975 euros
Mediolanum down 0.68 percent at 3.51 euros
UBI Banca down 0.25 percent at 16.20 euros

Other stocks in the news
Fiat up 1.48 percent at 13.81 euros after CEO Sergio Marchionne late Wednesday confirmed that the group will meet its full-year targets despite weak car sales in some European markets


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Paris

Paris shares TFN market data 10.35 am; Credit Agricole, France Tel fall sharply

Major indices:
CAC-40 up 13.29 points or 0.27 percent at 4,928.36
SBF-80 up 2.42 or 0.04 percent at 5,748.54
SBF-120 up 8.55 or 0.24 percent at 3,579.11

9 CAC-40 stocks up
31 CAC-40 stocks down

Major gainers:
Michelin, up 1.48 euros or 2.72 percent at 55.87; Renault, up 1.24 or 1.89 percent at 66.90; Peugeot, up 0.66 or 1.66 percent at 40.45. Auto stocks are recovering from steep losses earlier in the week

Major losers:
Credit Agricole, down 0.78 or 4.68 percent at 15.90. Wednesday evening, the banking group announced the terms of its 5.9 billion euro rights. The group is offering one new share for every three existing shares held, at a subscription price of 10.6 euros per share

France Telecom, down 0.77 or 4.00 percent at 18.46. The telecoms operator said Thursday it has launched a "friendly" and "indicative" 63 crown per share cash and stock offer for TeliaSonera

EADS, down 0.35 or 2.31 at 14.78. Exane BNP Paribas downgraded the aeropsace and defence group to 'underperform' from 'neutral'

Ipsen, 3.99 or 9.22 percent lower at 39.28. The French pharmaceuticals group said it has reached agreement with the board of Tercica Inc to buy the 74.7 percent it does not already own in its U.S. partner for $9.0 per share, or a total of about $404 million

ADP, down 0.85 or 1.19 percent at 70.79. SG Securities reinitiated coverage with a 'Sell' recommendation and 63 euros target, citing uncertainties about the company's business mode

Most active stocks:
France Telecom, 16.81 million shares traded


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Madrid

Madrid shares market data at 10:10 a.m. - blue chips up in tentative rebound

IBEX-35 index 13,378.10, up 36.9 points

Major gainers:
Selected heavyweights, with Telefonica up 0.05 euros at 18.04 and BBVA 0.03 higher at 14.08. Constructors, with Ferrovial up 0.65 at 50.65, FCC up 0.51 at 43.72 and ACS 0.26 higher at 37.30.

Inditex, up 0.35 at 32.69 after Industry Minister Miguel Sebastian said the government is considering relaxing restrictions on store hour openings.

Major losers:
Fenosa, down 0.08 at 41.71 after Spanish Primer Minister Jose Luis Zapatero appeared to back away from earlier calls for the creation of a national energy champion in an interview with the FT.

Iberia, down 0.02 at 2.03 on profit-taking after yesterday's 4 percent gain fuelled by easing oil prices and revived hopes of a bid from Lufthansa. Acerinox, down 0.15 at 16.71.

Forex
London 0752 GMT Hong Kong 0500 GMT

U.S. dollar
yen 105.85 up from 105.54
Swiss franc 1.0449 down from 1.0457

Euro
U.S. dollar 1.5437 up from 1.5402
yen 163.42 up from 162.52
Swiss franc 1.6133 up from 1.6101
pound 0.7907 up from 0.7891

Pound
U.S. dollar 1.9513 up from 1.9506
yen 206.57 up from 205.93
Swiss franc 2.0390 down from 2.0393

Australian dollar
U.S. dollar 0.9565 up from 0.9532
pound 0.4901 up from 0.4885
yen 101.25 up from 100.62

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
04 Jun 2008 10:16:01


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London

London shares open lower after falls on Wall St; ex-divs drag FTSE down

At 8:54 a.m., the FTSE 100 index was down 66.6 points at 5,991.1, while the FTSE 250 index lost 65.7 points at 9,921.2. In the U.S. markets, the DJIA fell 100.97 points, or 0.81 percent, to 12,402.85, after being down more than 160 points earlier.

Broader market indexes were also lower. The Standard & Poor's 500 index dropped 8.02, or 0.58 percent, to 1,377.65, while the Nasdaq composite index fell 11.05, or 0.44 percent, to 2,480.48.

Today in Asia, Japan's Nikkei 225 index closed up 226.40 points at 14,435.57, while Hong Kong's Hang Seng Index ended its morning session down 58.90 points at 24,316.86.

And oil prices fell in Asian trade after Fed boss Ben Bernanke said the U.S. central bank was being "attentive" to the sagging dollar because of its potential impact on inflation.

New York oil prices had fallen a hefty $3.45 Tuesday, while London's Brent North Sea crude for July delivery lost 43 cents to $124.15 a barrel.

In London, stocks trading ex-dividend took 14.8 points off the FTSE Wednesday, including National Grid which fell 24 to 724-1/2, Enterprise Inns, down 13 at 446-3/4 and Vodafone, the biggest blue chip faller, down 6.55 to 156.2.

Blue chip oilers fell back, tracking crude price falls. BP fell 12-1/2 to 592 and Royal Dutch Shell gave away 39 at 2,045. It was a similar story with miners, as metals prices dropped. Vedanta Resources lost 40 to 2,384, Antofagasta fell 16 at 673 and Xstrata gave away 75 to 3,970.

Elsewhere, the housebuilders performed poorly, primarily due to a bearish note from UBS. Persimmon shares fell 16 pence to 440 after being downgraded to 'sell' from 'neutral' at UBS this morning, while midcap peers Redrow and Bellway lost 15-1/4 to 208 and 25-1/2 at 577-1/2 respectively, following the same downgrade.


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Continuing in broker related movements, Man Group fell 10-1/2 to 614 after Investec cut its rating to 'hold' from 'buy'. It was a mixed picture for banks, with sentiment hit by a 10 percent drop in Lehman Brothers share price on talk it needs to raise capital.

HBOS shares fell 11-3/4 pence at 340 after saying trading in its rights issue nil-paid shares is expected to begin on June 27.

Sector peer Barclays was 7 lower at 353-1/4. However a Morgan Stanley upgrade sparked buying in Royal Bank of Scotland as the broker raised its view to 'overweight' from 'underweight', on valuation grounds. RBS shares were up 2 at 246-3/4.

Elsewhere on the upside, Kingfisher rose 0.9 at 139.7 after the company reported Wednesday a better-than-expected 8.9 percent increase in first quarter retail profit, with Seymour Pierce upgrading its stance to 'hold' from 'sell' in reaction.

Ahead of May traffic figures due at 2:15 p.m British Airways added 1-3/4 to 232-1/2. On the second line, away from the housebuilders, a bullish trading statement from IG Group couldn't stop shares falling 10 to 380, dragged down with the weak performing financial sector.

The top midcap riser was Cattles, adding 5 to 177-1/4 as investors reacted positively to news it received valid acceptances in respect of about 157.92 million new Cattles shares in its rights issue.

In macroeconomic news, Nationwide data showed consumer confidence in the UK plumbed new depths in May as worries about the outlook for the economy continued to mount, Nationwide building society said.

Nationwide's consumer confidence survey for May fell to 69, the lowest figure since polling began in May 2004. The previous all time low was set last month, at 70.


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UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here

Brussels

Brussels shares TFN market data at 10.00 a.m.

Main index
Bel 20 down 17.6 points or 0.47 percent at 3,717.96

Bel 20 fallers
Umicore down 0.42 euro or 1.17 percent at 35.60 euros
Suez down 0.27 euro or 0.57 percent at 47.47 euros

KBC Group down 0.81 euro or 1.05 percent at 76.51 euro
Fortis down 0.15 euro or 0.97 percent at 15.30 euros
Dexia down 0.10 euro or 0.67 percent at 14.75 euros
Delhaize down 0.34 euro or 0.67 percent at 50.55 euros

Bel 20 gainers
Agfa-Gevaert was up 0.14 euro or 2.63 percent at 5.26 euro. Shareholder activist group Deminor has entered into the share capital of the group. It can acquire up to a 0.80 percent stake

InBev down 0.95 euro or 2.07 percent at 46.75 euros

Outside the Bel 20
CMB down 1.11 euros or 2.49 percent at 43.39 euros
Tessenderlo down 0.23 euro or 0.64 percent at 35.47 euros. The chemical


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Paris

Paris shares TFN market data at 10:40 am; shares tumble, led by banks, autos

Major indices:
CAC-40 down 92.37 points or 1.85 percent at 4,891.34
SBF-80 down 65.69 or 1.14 percent at 5,719.03
SBF-120 down 63.58 or 1.76 percent at 3,553.34

3 CAC-40 stocks up
37 CAC-40 stocks down

Major gainers:
Carrefour, up 0.22 euros or 0.48 percent at 45.60, extending Tuesday's gains

Major losers:
Bouygues, down 2.82 or 5.48 percent at 48.63 after posting in-line first quarter earnings. Exane cut its stance on the stock to 'neutral' from 'outperform'

Societe Generale, down 3.03 or 4.68 percent at 61.70; BNP Paribas, down 1.58 or 2.45 percent at 62.79; Credit Agricole, 0.42 or 2.49 percent lower at 16.45. Traders highlighted a report by Fitch saying SocGen, BNP Paribas and Barclays will need to raise additional capital. Rumours also emerged of an additional $10 billion of writedowns at Merrill Lynch

Michelin, down 1.75 or 3.19 percent at 53.16. Societe Generale downgraded the tyre-maker to 'hold' from 'buy' Renault, down 1.31 or 2.02 percent at 63.42; Peugeot, down 0.89 or 2.22 percent at 39.16. Societe Generale cut Renault to 'hold' from 'buy' and Peugeot to 'sell' from 'buy'

Most active stocks:
Alcatel-Lucent, down 0.10 or 2.04 percent at 4.80. 3.70 million shares traded Total, down 1.34 or 2.40 percent at 54.57. 2.70 million shares traded


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Frankfurt

German shares TFN market data at 9:37 a.m.

DAX - down 69.60 points, or 0.99 percent, at 6,949.53
MDAX - down 63.73 points, or 0.66 percent, at 9,664.43
TecDAX - down 8.94 points, or 1.02 percent, at 870.08
DAX futures - down 20.00 points, or 0.29 percent, at 6,962.00

MAJOR DECLINERS:
Continental down 2.09 euros or 2.76 percent at 73.70 after Societe Generale Securities downgraded the automotive parts and tyre maker to 'sell' from 'buy.'

The broker pointed out costs look set to rise significantly after a sudden 50 percent surge in the steel spot price in euro terms over the last two months.

Thyssenkrupp down 0.88 euros or 1.99 percent at 43.27, after Lehman Brothers reinitiated the stock with an 'overweight' rating.

Linde down 1.85 euros or 1.92 percent at 94.42 as the stock traded ex-dividend, after Linde paid out 1.70 euros per share to its stockholders.

SAP down 0.52 euros or 1.46 percent at 34.99 as the stock also traded ex-dividend, after SAP paid out 0.50 euros per share to its stockholders. Daimler down 0.62 euros or 1.29 percent at 47.37.

MAJOR GAINERS:
Lufthansa up 0.05 euros or 0.31 percent to 16.26, as oil prices eased slightly. Merck up 0.15 euros or 0.17 percent at 89.55.

OTHER STOCKS IN THE NEWS:
MDAX-listed K&S up 6.73 euros or 2.13 percent at 322.89 to lead to the MDAX, after Credit Suisse raised its stance to 'outperform' from 'neutral' and lifted its target to 388 euros per share from 276 euros on the back of the fertilizer and industrial salts specialist increasing its 2008 EBIT guidance.


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Amsterdam shares TFN market data at 10.41 a.m. - lower, led by Shell, financials

MAJOR INDICES
AEX 476.57 points, down 7.33 points or 1.51 percent
AMX 670.39 points, down 9.62 points or 1.41 percent
Government bonds mixed

MAJOR DECLINERS
Royal Dutch Shell down 2.74 percent at 26.30 euros, tracking the decline in the price of crude Aegon down 2.47 percent at 9.59 euros to lead financials down amid continued credit crisis worries

Akzo Nobel down 0.35 percent at 51.72 euros; off early gains as Rabo Securities said the profit warning from peer Sherwin-Williams on Tuesday has a limited readthrough. Amsterdam trader said Akzo Nobel's losses on Tuesday were "overdone"

Corporate Express down 0.11 percent at 8.92 euros; cut to 'sell' from 'buy' at ING, which sees Staples likely winning the bidding war for the company

Fugro down 2.98 percent at 56.56 euros
AMG down 2.74 percent at 62.55 euros

ASMI down 1.99 percent at 16.26 euros amid reports it will re-enter talks with activist shareholders on Wednesday and Thursday

MAJOR GAINERS
KPN up 0.09 percent at 11.60 euros
Nutreco up 0.23 percent at 48.05 euros

Forex
London 0815 GMT Hong Kong 0500 GMT

U.S. dollar
yen 104.86 down from yen 105.10
Swiss franc 1.0414 up from Swiss franc 1.0413

Euro
U.S. dollar 1.5442 down from U.S. dollar 1.5458
yen 161.93 down from yen 162.52
Swiss franc 1.6082 down from Swiss franc 1.6098
pound 0.7894 up from pound 0.7873

Pound
U.S. dollar 1.9561 down from U.S. dollar 1.9631
yen 205.08 down from yen 206.41
Swiss franc 2.0371 down from Swiss franc 2.0440

Australian dollar
U.S. dollar 0.9589 up from U.S. dollar 0.9566
pound 0.4902 up from pound 0.4871
yen 100.42 down from yen 100.56

[Raggedy Man]

PDOS: Gale Anne Hurd's Valhalla Motion Pictures and Platinum Studios Partner to Bring ''Final Orbit'' to the Big Screen
Tuesday June 3, 4:26 pm ET

LOS ANGELES--(BUSINESS WIRE)--Gale Anne Hurd’s Valhalla Motion Pictures, producer of Marvel Studios’ (NYSE: MVL - News) Summer release The Incredible Hulk, and Platinum Studios, Inc. (OTCBB: PDOS - News), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media, today announced a deal to co-develop and produce a feature film based on the soon-to-be-published action thriller comic book Final Orbit. The graphic novel is slated for release by Platinum Studios Comics in early 2009.

Final Orbit tells the story of some lottery winners who are vacationing on the International Space Station but when it is damaged, the vacation becomes a nightmare, trapping the tourists alone in a crippled module with no astronauts to help them.

Hurd and Platinum Studios’ Chairman and CEO Scott Mitchell Rosenberg are set to produce. Former Universal Pictures’ senior executive, Randy Greenberg, of The Greenberg Group, will executive produce. Gary Ventimiglia, President of Production at Valhalla Motion Pictures, will co-produce.

“Final Orbit has all of the classic cat-and-mouse, edge-of-your-seat elements to be a fantastic white-knuckle thriller,” said Hurd, Chairman of Valhalla Motion Pictures. “Being able to develop the motion picture alongside the comic book allows for the cross pollination of creative ideas that benefit both avenues.”

“I believe that Gale has the unique sensibility to pull out the core essence of these comic characters and events to make an extremely satisfying and entertaining motion picture,” said Platinum Studios’ Rosenberg.

Gale Anne Hurd and Valhalla Motion Pictures most recently produced the highly anticipated The Incredible Hulk for Marvel Studios (NYSE: MVL - News) which is being released by Universal Pictures (NYSE: GE - News) on June 13. Valhalla is continually developing a broad range of projects and recently wrapped Marvel’s Punisher: War Zone for Lionsgate (NYSE: LGF - News) and Sony Pictures Entertainment (NYSE: SNE - News). Hurd has produced more than two dozen feature films that have generated billions of dollars of revenue. Her other credits include The Terminator, Aliens, Armageddon, Aeon Flux, The Punisher, Terminator 2: Judgment Day and Terminator 3: Rise of The Machines among others.

Platinum Studios’ film and TV division has other properties in development at major film studios, including Unique at Walt Disney Pictures (NYSE: DIS - News) with “Harry Potter” producer David Heyman, Atlantis Rising at DreamWorks with Kurtzman/Orci (“Transformers”) and Cowboys and Aliens, written by “Iron Man” screenwriters Mark Fergus & Hawk Ostby, also at Dreamworks in association with Universal Pictures and Imagine Entertainment. Platinum Studios also recently announced it’s partnering with Hyde Park Entertainment to co-produce Dead of Night, based on the beloved Italian comic book series, Dylan Dog and a partnership with Top Cow Productions and Arclight Films to co-produce Witchblade, based on the best-selling independent comic book title.

About Platinum Studios, Inc.

Platinum Studios (OTCBB: PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile / wireless, gaming, and merchandising. Platinum Studios' library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as www.DrunkDuck.com, the industry's preeminent webcomics community. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms. Platinum Studios - Comics Fueling Media EVERYWHERE!

To learn more about the company and to sign up for our newsletter, please visit our website at http://www.platinumstudios.com/news/index.php

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectation of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.

Contact:
Media Requests:
Contact for Valhalla Motion Pictures
Chasen & Company
Jeff Sanderson, 310-274-4400
[e-mail]
or
Platinum Studios, Inc.
Randy Greenberg, 310-807-8100
[e-mail]
or
Platinum Investor Requests:
Platinum Studios, Inc.
Thomas Becker, 702-478-7363
[e-mail]


--------------------------------------------------------------------------------
Source: Platinum Studios, Inc.

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
29 May 2008 09:53:21


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London

London shares higher early on; gains in NY, Asia; Man Group, miners up

At 9:14 a.m., the FTSE 100 index was up 57.1 points at 6,126.7, while the FTSE 250 index was 94.5 points higher at 10,151.8.

Overnight on Wall Street, the DJIA rose 45.68 points to 12,594.03, the S&P 500 index climbed 5.49 points to 1,390.84, and the Nasdaq composite index added 5.46 points to 2,486.70.

U.S. stocks managed to finish what was an erratic session with a moderate advance Wednesday as investors found some comfort in the upbeat data on durable goods orders. Oil prices, however, remain a big focus on Wall Street. Crude's recovery from its lows Wednesday ate into some of the stock market's enthusiasm over the durable goods data.

Key on Thursday is the release of U.S. GDP numbers. First-quarter GDP growth is expected to be upwardly revised to 1.0 percent from 0.6 percent, with most of the revision taking place in the trade sector.

In Asia, the mood was buoyant, with the Nikkei 225 index closing up 415.03 points at 14,124.47, and the Hang Seng index closing 134.48 points higher at 24,383.99.

In London, Man Group was among the top blue-chip risers, up nearly 3 percent, or 17-1/2 pence to 606, as the hedge fund manager reported an expectation-beating 60 percent increase in full-year profit, driven by a strong fund performance, and said it had made a robust start to the new financial year.

In reaction, Credit Suisse lifted its target to 670 pence from 640 pence, while repeating its 'outperform' stance. The broker said it is raising its net inflows forecasts for 2009 and 2010.

Sticking with results, Antofagasta experienced good gains early on, up 13 pence at 710, ahead of its first-quarter numbers Thursday, scheduled for release at 10:00 a.m. Sales are expected to rise from the $830.4 million reported in the year-earlier quarter on better output and prices.


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Rio Tinto, meanwhile, added 126 pence to 6,263, as it said it expects compound annual production growth to be 8.6 percent through to 2015 and that it is well-placed to take advantage of an expected doubling of world demand for its metals and minerals by 2022.

Sector peers also rallied. BHP Billiton added 38 pence to 1,997, Eurasian Natural Resources Corp was up 25 pence at 1,435, Lonmin rose 40 pence to 3,388, and Xstrata was 44 pence higher at 4,060.

Elsewhere among commodities, good gains were seen among oil stocks, as world oil prices retreated but stayed above $130 in Asian trade on Thursday amid growing jitters about falling U.S. gasoline consumption due to skyrocketing pump prices.

Oil majors BP and Royal Dutch Shell were up 7-1/2 pence at 613, and 22 pence at 2,176, respectively, while Tullow Oil was 23-1/2 pence firmer at 921.

BG Group, meanwhile, took on 11 pence to 1,301, as the Financial Times reported that the oil and gas exploration company is expected to sweeten its original bid for Origin Energy with a cash offer of at least A$13.2 billion for Australia's second largest retail energy supplier.

Turning to the casualties, a broker downgrade helped push shares in Standard Life lower, off 2 pence at 240-1/4, with JP Morgan lowering its recommendation to 'underweight' from 'neutral' as it feels the company is exposed to weaker sales in the United Kingdom. The broker also reduced its target to 230 pence from 245 pence.

Weakness was also seen among banks, with ABN Amro saying in a note Thursday that it expects a strong reversal in both earnings yield and leverage, which have driven up sector returns in recent years. The broker highlighted that capital market banks appear most at risk, notably Deutsche Bank.

HBOS slipped 7 pence to 424, Lloyds TSB fell 5 pence to 379-3/4, Barclays was off 4-1/4 pence at 383, and Royal Bank of Scotland lost 1-1/4 pence to 236-3/4.


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On the second tier, Caledonia Investments added 31 pence to 2,032-1/2, in the wake of its final results. Earlier, the investment company said that as the economic situation further unfolds, it expects a number of particularly good investment opportunities to arise, and may well put in place term bank facilities for up to 100 million pounds.

Caledonia Investments reported a 4.6 percent fall in full-year diluted net asset value. Meanwhile, Carpetright took on 13-1/2 pence to 794-1/2 pence, as it emerged that billionaire founder of MicroSoft Corp, Bill Gates, has bought a 3 percent stake in the company.

Looking at the downside, Shanks Group was the top faller, off over 5 percent or 13-1/4 pence at 242, after the waste management company reported a 10 percent fall in full-year pretax profit. In reaction, Altium Securities repeated its 'hold' view as it feels the stock is fully valued.

Elsewhere, Capital & Regional shed 13 pence to 289-3/4. The Financial Times reported that a 2.9 billion pounds shopping centre investment fund managed by Capital & Regional is to raise 300 million pounds through a deeply discounted rights issue to prevent a breach of a key debt covenant.

A broker downgrade hit Speedy Hire, with its shares falling 10-1/2 pence to 666-1/2, with UBS cutting its rating to 'neutral' from 'buy', while lowering its target to 750 pence from 850, in the wake of full-year results on Wednesday.

The broker said while it retains its belief Speedy Hire's business model will prove more resilient than the market may be expecting, it struggles to see any catalysts for a re-rating in the near term.

Finally, LogicaCMG was 1-1/2 pence weaker at 327 as Investec cut its recommendation on the software group to 'sell' from 'hold' citing headwinds.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here


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Paris

Paris shares TFN market data at 10:15 a.m.

Major indices:
CAC-40 up 34.21 or 0.69 percent at 5,005.32
SBF-80 up 48.22 or 0.84 percent at 5,803.55
SBF-120 up 24.52 or 0.68 percent at 3,631.02

33 CAC-40 stocks up
7 CAC-40 stock down

Major gainers:
ArcelorMittal up 1.20 or 1.90 percent at 64.41; Total up 0.90 or 1.62 percent at 56.51; Vallourec up 4.31 or 2.23 percent at 195.78, all benefitting from continuing high oil prices

Danone up 0.80 or 1.46 percent at 55.67 after Citigroup added it to its most favoured stock list, replacing Pernod Ricard after its downgrade earlier in the week Alcatel-Lucent up 0.05 or 1.05 percent at 4.83 after Goldman Sachs upgraded it to 'neutral' from 'sell'

Major losers:
St Gobain down 0.72 pr 1.36 percent at 52.09 after Merrill Lynch downgraded the stock to 'neutral' from 'buy' at Merrill Air France-KLM down 0.19 or 1.13 percent at 16.65, on fears over ongoing
high oil prices

EDF down 0.94 or 1.36 percent at 68.01 after a report in French daily Les Echos suggesting the French state is preparing to sell part of its stake in the utility

Most active stocks:
France Telecom; 3.8 million shares traded
Alcatel-Lucent; 2.2 million shares traded


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Frankfurt

German shares TFN market data at 10:22 a.m.

DAX - up 45.90 points, or 0.65 percent, at 7,079.74
MDAX - up 101.71 points, or 1.06 percent, at 9,657.53
TecDAX - down 3.46 points, or 0.41 percent, at 836.75
DAX futures - up 24.50 points, or 0.35 percent, at 7,097.50

MAJOR GAINERS:
RWE shares up 1.70 euros, or 2.08 percent, at 83.30 after UBS upgraded its stance on the utility to 'buy' from 'neutral' and lifted its price target to 115 euros per share from 87.

Deutsche Telekom up 0.17 euros, or 1.59 percent, at 10.89

EON up 1.80 euros, or 1.36 percent, at 134.46, also benefiting from the bullish note from UBS in which it said it still prefers EON over RWE based on a better power generation mix, greater strategic clarity and little risk to stockholders.

Siemens up 0.93 euros, or 1.29 percent, at 73.00, after it sold five business parks to Dawnay, Day Sirius Ltd for 98 million euros. Bayer up 0.56 euros, or 0.99 percent, at 56.96

MAJOR DECLINERS:
Infineon down 0.55 euros, or 8.80 percent, at 5.70, after the German chipmaker said it expects revenues in its communications unit in the third quarter to be about flat from the previous quarter and expects EBIT for the unit to suffer accordingly.

Volkswagen down 2.53 euros or 1.39 percent lower at 179.69, after Deutsche Bank downgraded its stance on the automaker to 'sell' from 'hold' saying they trade at an unjustified bid premium.

Deutsche Post down 0.27 euros or 1.32 percent at 20.15 as pressure on the stock continues after the mail carrier announced an agreement with United Parcel Service Inc. Wednesday to help bolster its failing U.S. operations which disappointed investors, who had been expecting more.

Adidas, down 0.25 eur or 0.54 percent at 46.23
Deutsche Boerse down 0.57 euros or 0.61 percent at 92.40

OTHER STOCK IN THE NEWS:
TecDAX-listed Solarworld down 1.37 euros or 4.31 percent at 30.42, after Merrill Lynch cut its rating on the company to 'sell' from 'neutral'.


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Milan

Milan shares TFN market data at 9.50 a.m.; Oil stocks, Atlantia rebound

Main indices:
Mibtel at 25,347 points, up 0.28 percent
S&P/Mib at 32,852 points, up 0.29 percent

Main S&P/Mib gainers
Tenaris up 1.80 percent at 19.42 euros

Saipem up 1.55 percent at 29.47 euros, rebounding after Wednesday's weakness Eni up 1.01 percent at 26.11 euros

Atlantia up 1.00 percent at 23.21 euros after the lower house of parliament Wednesday approved a government amendment which paves the way for the clearing of last October's tariff convention between the group and motorway agency ANAS

Fiat up 0.68 percent at 14.60 euros. Wednesday, Moody's raised Fiat's long-term senior unsecured ratings to 'Baa3' from 'Ba1' and all short-term ratings to 'Prime-3' from 'Not Prime', citing the group's continued strong financial performance despite a more challenging competitive landscape and the economic weakening in some markets

Main S&P/Mib losers
Banca Popolare di Milano down 1.88 percent at 6.985 euros
Fondiaria-SAI down 1.31 percent at 23.28 euros
Geox down 0.79 percent at 8.12 euros
Mediolanum down 0.73 percent at 3.54 euros

A2A down 0.70 percent at 2.4725 euros

Other stocks in the news
Mediaset down 0.42 percent at 5.205 euros as the government Wednesday withdrew an amendment that would have frozen the current allocation of television frequencies and allowed the group's Rete 4 channel to continue using its terrestrial analogue band wave until the switchover to digital broadcasting, scheduled for 2012.

Enel up 0.42 percent at 7.195 euros with UBS upping the price target on the stock to 9.50 euros from 9.0 euros and keeping its 'buy' stance.

Forex
London 0749 GMT Tokyo 1.00 p.m. (0400 GMT)

U.S. dollar
yen 104.98 up from 104.84
Swiss franc 1.0412 up from 1.0390

Euro
U.S. dollar 1.5600 down from 1.5634
yen 163.78 down from 163.94
Swiss franc 1.6246 down from 1.6248
pound 0.7908 up from 0.7902

Pound
U.S. dollar 1.9729 down from 1.9780
yen 207.14 down from 207.32
Swiss franc 2.0546 down from 2.0551

Australian dollar
U.S. dollar 0.9614 up from 0.9595
pound 0.4871 up from 0.4851
yen 100.91 up from 100.61

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
28 May 2008 09:55:37


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London

London shares open higher; NY closes firmer; RBS, Friends Provident gains

London shares open firmer after Wall Street closed higher following a retreat in oil prices with positive broker comment helping shares in Royal Bank of Scotland, Friends Provident and WM Morrison gain.

At 8:52 a.m., the FTSE 100 index was 11.4 points higher at 6,069.9 after closing down 28.8 points at 6,058.5 on Tuesday, while the FTSE 250 index was off 19 points at 10,015.2.

"There has been a little bit of bounce today following oil having a weak day yesterday, although a couple of points have been knocked off by stocks going ex dividend," said Mark Priest, head of equity sales at Tradindex. "However, generally it is a pretty quiet day today," added Priest.

In the United States, Wall Street advanced after a drop in oil prices and an unexpected gain in new home sales encouraged investors to put money back into the market.

The DJIA rose 68.72 to 12,548.35, while the S&P 500 index rose 9.42 to 1,385.35 and the Nasdaq composite index rose 36.57 to 2,481.24.

Looking at U.S. economics, U.S. durable goods data is expected to show a fall of 1.1 percent in April following a 0.3 percent decline in the previous month.

Excluding transportation, durable goods are expected to have fallen by 0.7 percent in April after a 1.5 percent increase in the previous month.

Asia markets were lower as the fall in oil price prompted a sell-off in resource stocks. The Nikkei 225 index was down 177.42 points at 13,715.89 while the Hang Seng index ended the morning 78.94 points weaker at 24,203.10.

Oil prices in Asian trade fell further from record levels on profit-taking after fresh data triggered concerns the U.S. economy will slow down markedly, dampening oil demand.

New York's main oil futures contract, light sweet crude for July delivery, shed 5 cents to $128.80 per barrel. The benchmark contract had closed at $128.85 on Tuesday, down $3.34 from Friday, the last trading day before the U.S. Memorial Day holiday on Monday.

London's Brent North Sea crude for July slipped 12 cents to $128.19 per barrel, after settling $4.06 lower at $128.31 on Tuesday.


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Turning to the UK blue chips on the upside, Royal Bank of Scotland gained 4-3/4 at 246 after Credit Suisse upgraded the group to 'neutral' from 'underperform' in a banking review.

However peer, Lloyds TSB retreated 3-3/4 at 389-3/4 as Credit Suisse downgraded the group to 'underperform' from 'neutral' in the same review.

Elsewhere in financials, insurer Friends Provident ticked up 2.1 at 118 as JP Morgan raised its recommendation on the group to 'overweight' from 'neutral'. Its peer Prudential was 8 firmer at 652.

Sticking with broker news, WM Morrison was up 6-1/4 at 291-1/2 after Credit Suisse upgraded the group to 'outperform' from 'neutral', while raising its price target to 340 pence from 320 pence. Its peer J Sainsbury was 7 higher at 292-1/4.

Turning to the downside, around 30 points were knocked off the FTSE with stocks trading ex dividend including Marks & Spencer, Next, Cobham and British Energy.

Meanwhile, after earning news, British Energy fell back 10 at 727 after reporting a slump in full year EBITDA from 1.2 billion pounds last year to 882 million pounds, the result of lower full year nuclear output as well as lower achieved power prices.

Elsewhere, commodity stocks were lower following the sell off in Australia and the retreat in oil prices.

Oil heavyweight BG Group was down 7 at 1,283 and Royal Dutch Shell was off 8 at 2,144, while exploration and production groups Tullow Oil fell back 4-1/2 at 905-1/2 and Cairn Energy was 1 weaker at 3,370.

Out of the miners, BHP Billiton was down 15 at 1,957, Eurasian Natural Resources was 26 weaker at 1,384, Vedanta Resources lost 23 at 2,575 and Kazakhmys fell back 8 at 1,670.

Looking at the midcaps, in earning news QinetiQ Group gained 4-1/2 at 200 after it reported higher revenues and underlying pretax profit for the full year, reflecting the benefits of the highly differentiated business in the United Kingdom and North America, even as pretax profit fell.

The defence and security technology company said pretax profit for the full year to March 31 fell to 51.4 million pounds from 89.3 million pounds last year, while revenues rose to 1.37 billion pounds from 1.15 billion pounds.


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And, Intermediate Capital Group was 32 higher at 1,496 as it posted a 2 percent higher full year pretax profit and said it is confident of achieving its objective to double in size every five years.

The company said pretax profit for the year to end-March 2008 rose to 229.5 million pounds from 224.0 million pounds, and said 36 million pounds of the pretax profit relates to fair value movements on derivatives held for hedging purposes. Funds under management increased 25 percent to 7.3 billion pounds.

Meanwhile, Speedy Hire ticked up 13 at 694-1/2 as it reported a profit -- before tax, amortisation and exceptional integration costs -- of 48.1 million pounds for the year to March 31, 2008, compared with 40.5 million a year earlier.

The group also said it has bought Carillion Asset Management Ltd.'s accommodation business for a total 12.5 million pounds as part of a new partnership agreement with Carillion.

Turning to the downside, Shaftesbury lost 17-1/4 at 472-3/4 after the group said its adjusted diluted net asset value per share for the first half to end-March was down 10.5 percent to 5.78 pounds. The property investment group said its first-half adjusted pretax profit was up 7.4 percent to 7.2 million pounds compared with the year-ago period.

And, Electrocomponents was off 3 at 170 as it said it has maintained its final dividend at 18.4 pence a share in line with its prior commitment and reported a 9 percent increase in its full-year reported pretax profit on a 12 percent rise in its headline pretax profit for the period.

The company posted a pretax profit of 95.4 million pounds for the year to March 31, 2008, from a restated pretax profit of 87.2 million pounds earlier. Headline pretax profit rose to 96.4 million pounds for the year from 86.4 million pounds reported a year ago.

Finally, Northgate fell back 30 at 558-1/2 after Citigroup cut its stance on the group to 'hold' from 'buy', also reducing its price target on the stock to 640 pence from 870 pence.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, click here

US Summary
For a summary of US stocks at yesterday's close of trade, click here


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Milan

MILAN - Market data at 9.32 a.m.:

Main indices;

Mibtel at 25,295 points, up 0.26 percent
S&P/Mib at 32,855 points, up 0.34 percent

Main S&P/Mib gainers

Assicurazioni Generali up 1.34 percent at 26.50 euros with reports saying that Italy's largest insurer pulled out of the race to buy the insurance assets of Royal Bank of Scotland as it considers the asking price to be too high. WestLB upgraded the stock to 'add' from 'hold

STMicroelectronics up 1.03 percent at 8.205 euros, still benefiting from comments made at Tuesday's shareholders meeting in which the group confirmed its guidance of doing better than the market this year

Fiat up 0.87 percent at 14.41 euros recovering from recent weakness. The auto group will start producing its Alfa Romeo brand in North America by 2011 and is in talks to choose a partner for the process

Tenaris up 0.85 percent at 18.87 euros

Geox up 0.71 percent at 7.84 euros, recovering from recent weakness. Since the start of the year, the share has lost almost 42 percent of its value, with only two shares faring worse in the period

Main S&P/Mib losers

Seat Pagine Gialle down 3.01 percent at 0.1064 euro as Citigroup downgraded the stock to 'sell' from 'hold' and trimmed the price objective to 0.1 euros from 0.15 euros

Impregilo down 0.93 percent at 4.07 euros, recovering from earlier lows. The stock is still weak after news Tuesday that the CEO and other employees and former employees of its Fibe and Fibe Campania units were arrested in a new probe over waste management activities in the Campania region, where the city of
Naples is located

A2A down 0.30 percent at 2.5075 euros

Eni down 0.35 percent at 25.91 euros

Banco Popolare down 0.34 percent at 13.03 euros


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Frankfurt

FRANKFURT - Market data at 10:14 a.m.

DAX - up 26.35 points, or 0.38 percent, at 6,985.01
MDAX - up 46.25 points, or 0.49 percent, at 9,475.30
TecDAX - down 5.42 points, or 0.64 percent, at 836.44
DAX futures - down 13.50 points, or 0.19 percent, at 7,005.00

MAJOR GAINERS:

SAP up 0.90 euros, or 2.70 percent, at 34.25, as traders pointed to a boost from an upgrade from Cheuvreux to its 'selected list' from 'underperform' and said the stock was being supported on technical grounds.

Deutsche Boerse up 1.14 euros, or 1.22 percent at 94.66, recovering some of its recent losses as market trading activity appeared to be picking up

Lufthansa up 0.19 euros, or 1.0 percent at 16.04, helped as oil prices eased

Deutsche Post up 0.20 euros, or 0.93 percent, at 21.79

Deutsche Bank up 0.53 euros, or 0.74 percent, at 72.62

MAJOR DECLINERS:

Hypo Real Estate down 0.38 euros or 1.77 percent at 21.08 as the shares trade ex-dividend after it paid out 0.50 euros per share to investors

TUI down 0.16 euros, or 0.95 percent, at 16.62

Deutsche Postbank down 0.53 euros, or 0.86 percent, at 60.81, easing slightly as excitement over a possible sale of the Post unit in autumn seemed to wane

Volkswagen, down 1.52 euros, or 0.84 percent, at 179.50

Metro down 0.36 euros, or 0.75 percent, at 47.57, continuing Tuesday's drop after a 0.7 points drop in GFK consumer sentiment survey for May showed a lowered willingness of German consumers to buy.

OTHER STOCK IN THE NEWS:

MDAX-listed Vossloh down 2.89 euros, or 3.18 percent, at 88.11 after Societe Generale initiated its coverage on the rail infrastructure and rail technology specialist with a 'sell' rating and a price target of 79 euros per share


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Amsterdam

AMSTERDAM - Market data at 10.31 a.m.

MAJOR INDICES

AEX 477.06 points, up 3.22 points or 0.68 percent
AMX 659.88 points, up 3.35 points or 0.51 percent
Government bonds lower

MAJOR GAINERS

Aegon up 1.92 percent at 9.67 euros to lead peer financial higher

Randstad up 1.38 percent at 27.22 euros

Corio up 1.31 percent at 55.61 euros

ArcelorMittal up 0.42 percent at 61.96 euros; UBS ups its price target to 75 euros from 67

Ordina up 3.76 percent at 11.59 euros

Logica up 2.61 percent at 1.57 euros; to cease trading on OMX Nordic Exchange in summer 2008

OPG up 0.34 percent at 14.82 euros as ABN Amro speculates in broker note company could be target of future M&A

Nieuwe Steen Investments up 0.80 percent at 17.71 euros as it said CEO Anka Reijnen has decided to take up the role of chief financial officer. NSI to seek new CEO externally

MAJOR DECLINERS

TomTom down 0.91 percent at 22.89 euros

Royal Dutch Shell down 0.65 percent at 26.87 euros

KPN down 0.35 percent at 11.49 euros; pressured by reports telecoms watchdog Opta will investigate whether regulation is needed to ensure competition in the business sector, where KPN holds a large majority market share

Heijmans down 1.20 percent at 19.00 euros

Arcadis down 1.02 percent at 14.49 euros

Forex
London 0835 GMT Tokyo 0400 GMT

U.S. dollar
yen 104.27 up from 104.05
Swiss franc 1.0304 down from 1.0313

Euro
U.S. dollar 1.5718 up from 1.5692
yen 163.90 up from 163.28
Swiss franc 1.6198 up from 1.6189
pound 0.7939 down from 0.7943

Pound
U.S. dollar 1.9792 up from 1.9750
yen 206.36 up from 205.49
Swiss franc 2.0397 up from 2.0368

Australian dollar
U.S. dollar 0.9595 down from 0.9605
pound 0.4848 down from 0.4862
yen 100.06 up from 99.90

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
27 May 2008 09:52:18


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London

London shares higher early on after a rally in Asia; SABMiller up on M&A talk

At 9:01 a.m., the FTSE 100 index was up 21.5 points at 6,180.8, although the FTSE 250 index fell 10.6 points at 10,067.0.

With Wall Street also closed yesterday for the Memorial Day holiday, pre-weekend the DJIA ended down 145.99, or 1.16 percent, to 12,479.63 Friday. Broader stock indicators also declined. The Standard & Poor's 500 index fell 18.42, or 1.32 percent, to 1,375.93, and the Nasdaq composite index slid 19.91, or 0.81 percent, to 2,444.67.

Today in Asia, Japan's Nikkei 225 index ended up 203.12 points or 1.5 percent at 13,893.31, while Hong Kong's Hang Seng Index ended its morning session up 147.31 points or 0.6 percent at 24,274.62. And oil prices in Asian trade was trading around $133 in early Asia on Tuesday after news of more violence in key African exporter Nigeria.

New York's main oil futures contract, light sweet crude for July delivery, climbed 81 cents to $133.00 per barrel after the U.S. Memorial Day holiday on Monday.

The benchmark contract had settled at $132.19 a barrel on Friday. London's Brent North Sea crude for July delivery was trading 49 cents higher at $132.86 a barrel. The rise in prices aided oil stocks, with Cairn Energy up 71 at 3,514, Tullow Oil 14 higher to 935-1/2 and BG Group up 15 to 1,325.

Miners helped to underpin gains, rallying after a weak performance last week, and as metals prices remained steady. Vedanta Resources added 66 to 2,643, Anglo American added 81 to 3,453, Antofagasta rose 17-1/2 to 711 and Rio Tinto gained 107 to 6,406.

However, SABMiller was the top riser, up 62 at 1,286, after various weekend press reports suggested Inbev is weighing moves to consolidate its share of the global beer market, with Anheuser-Busch and SABMiller cited as possible targets.


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The brewer was given a further boost as ING raised its price target to 1,550 pence from 1,500.

Following results today Vodafone added 3.2 at 166.5, earlier the group posted group revenue of 35.5 billion pounds for the year ending March 31, an increase of 14.1 percent and organic growth of 4.2 percent coming in slightly higher than the market consensus, while Merrill Lynch offered support by repeating its 'buy' view this morning.

The group also said its chief executive Arun Sarin is to leave the group after five years at the helm and will be replaced by deputy chief executive Vittorio Colao.

Meanwhile, Cable & Wireless added 2.8 pence at 165.8 after Goldman Sachs raised its stance to 'buy' from 'hold' following recent results. Compass Group rose 5-1/2 to 367-1/4, aided by Credit Suisse upping its price target to 425 pence from 415 following the group's results earlier this month.

On the downside, GlaxoSmithKline fell 10-1/2 pence to 503-1/2 as Morgan Stanley cut its stance to 'underweight' from 'equal-weight' and its price target to 1,060 pence from 1,161 today, as the broker believes there is significant risk to expectations for US Cervarix approval in 2009.

The retailers suffered this morning, as a miserable Bank Holiday Weekend weather wise dampened sentiment.

Home Retail Group lost 6-1/4 at 225, Kingfisher dropped 1.9 at 138.1, Next lost 15 at 1,188 and M&S gave away 2-1/2 at 391. On the second line, Northern Foods added 2-1/4 at 88-1/4 after well received numbers.

Full-year pretax profit hit 50.1 million pounds compared with 40.0 million in 2006/07 as the group continued its strategy of eliminating low margin business, while Numis said it was encouraged by the margin expansion and repeated its 'add' stance.


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On the 250 downside, Aricom fell 4-3/4 pence to 89 after it confirmed this morning it will need in excess of $1 billion in external funds to develop its K&S and Garinskoye iron ore projects in Russia.

Full year results from the engineering data and design IT systems provider Aveva failed to impress investors, as shares fell 34 to 1,228.

And, independent reinsurance and risk intermediary Benfield Group Ltd. fell 5 to 259 after it said it has invested $50 million cash into Juniperus Insurance Opportunity Fund, managed by Juniperus Capital Ltd.

On the macro front, the UK CBI service sector survey was released overnight, with the UK services sector taking a knock over the last three months as profitability fell at a record pace for some parts of the sector.

UK BBA April mortgage lending numbers are due later today, and these are expected to bring more bad news on the housing front with mortgage lending and approvals seen weaker than the previous month.

Although of more interest will be Thursday's May Nationwide UK house price survey, seen dropping 0.5 percent from April and by 1.9 percent from a year ago.

Across the Atlantic, after Friday's US existing home sales numbers, April US new homes sales will be a focus today together with May consumer confidence figures.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here




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Paris

Paris shares TFN market data at 10.30 a.m.; autos slide again

Major indices:
CAC-40 down 35.02 points or 0.71 percent at 4,902.82
SBF-80 down 23.52 or 0.41 percent at 5,708.24
SBF-120 down 24.58 or 0.69 percent at 3,559.05

6 CAC-40 stocks up
24 CAC-40 stocks down

Major gainers:
Suez up 0.56 or 1.27 percent at 45.16 as path clears for merger with GDF Gaz de France up 0.08 or 0.19 percent at 41.87

France Telecom up 0.19 or 0.93 percent at 20.61 NRJ Group up 0.09 or 1.47 percent at 6.20, press report says has several candidates to buy Towercast unit

Major losers:
ArcelorMittal down 1.23 or 1.93 percent at 62.65 Michelin down 0.85 or 1.47 percent at 58.62 amid persistent gloom on sector

Renault SA down 1.15 or 1.85 percent at 60.94 Valeo down 0.45 or 1.79 percent at 24.74, adding to a string of losses

Most active stock
Credit Agricole SA, 2.8 million shares trade as stock goes ex-div


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Milan

Milan shares TFN market data at 9.41 a.m.: Fiat, Intesa rebound, BPM weak

Main indices:
Mibtel at 25,387 points, up 0.29 percent
S&P/Mib at 32,860 points, up 0.29 percent

Main S&P/Mib gainers
Intesa Sanpaolo up 1.44 percent at 4.2025 euros Fiat up 1.03 percent at 14.33 euros, recovering after several days of weakness

Pirelli up 1.01 percent at 0.5485 euros. The group does not rule out new tyre price increases in the third and fourth quarters if the price of raw materials continues to rise and said it aims to increase tyre sales in Germany to 1 billion euros in 2010 from 850 million euros in 2007

Buzzi Unicem up 0.98 percent at 18.72 euros Telecom Italia up 0.85 percent at 1.424 euros after better-than-expected results for Vodafone

Main S&P/Mib losers
Banca Popolare di Milano down 1.42 percent at 7.06 euros
Geox down 1.13 percent at 7.90 euros
Seat Pagine Gialle down 0.80 percent at 0.1118 euros
Finmeccanica down 0.52 percent at 19.25 euros.
A2A down 0.47 percent at 2.525 euros

Other stocks in the news
Credem up 0.65 percent at 6.805 euros with reports saying the Maramotti family is ready to hike its stake in the bank by subscribing to 73 percent of a 250 million euros capital increase

Atlantia up 0.22 percent at 22.90 euros on the day parliament is expected to vote on an amendment which clears last October's tariff convention between the group and motorway agency ANAS


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Amsterdam

Amsterdam shares TFN market data at 10.26 a.m. - lower, early gains reversed

MAJOR INDICES
AEX 473.26 points, down 5.03 points or 1.05 percent
AMX 662.34 points, down 3.18 points or 0.48 percent
Government bonds mainly lower

MAJOR DECLINERS
ArcelorMittal down 1.91 percent at 62.64 euros
Randstad down 1.29 percent at 26.81 euros

Aegon down 1.29 percent at 9.37 euros to lead financials lower Heijmans down 1.84 percent at 19.19 euros USG People down 1.71 percent at 14.41 euros as Petercam cut its price target to 17.50 euros from 18.50 euros and maintained its rating at 'hold' keeping a cautious stance due to the uncertainty of how staffing markets will develop

Wereldhave down 0.94 percent at 77.83 euros; started as 'hold' by Citigroup, with a target 81 euros as it sees sees little upside in the short-term

VastNed Offices/Industrial down 0.24 percent at 20.95 euros; Rabo maintained its 'hold' rating as it said the company's relatively sizeable acquisition in Germany does not change its cautious stance on the stock

MAJOR GAINERS
SBM Offshore up 1.05 percent at 25.11 euros'; upped to 'buy' from 'hold' at ING with a raised price target of 30 euros versus 22. The broker believes the Dutch oil services company is on the verge of winning orders in excess of $2 billion

Ahold up 0.32 percent at 9.49 euros KPN up 0.09 percent at 11.60 euros as peer Vodafone results pleased and amid reports Capgemini is interested in acquiring parts of Getronics that KPN is planning to divest

Vopak up 1.32 percent at 45.40 euros Ten Cate up 1.38 percent at 23.50 euros; Petercam raised its price target to 28.5 euros from 27 to better reflect the long-term upside, but kept the stock at a 'hold'

Forex
London 0810 GMT Tokyo 0400 GMT

U.S. dollar
yen 103.84 up from 103.32
Swiss franc 1.0269 up from 1.0234

Euro
U.S. dollar 1.5748 down from 1.5786
yen 163.56 up from 163.09
Swiss franc 1.6175 up from 1.6158
pound 0.7978 up from 0.7964

Pound
U.S. dollar 1.9743 down from 1.9816
yen 205.00 up from 204.73
Swiss franc 2.0273 down from 2.0279

Australian dollar
U.S. dollar 0.9593 down from 0.9613
pound 0.4859 up from 0.4850
yen 99.59 up from 99.30

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
22 May 2008 09:52:14


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London

London shares flat in early deals after New York drop; UK retail sales key

At 9.11 a.m., the FTSE 100 index was 3.0 points firmer at 6,201.1, after closing 6.5 points firmer on Wednesday 6,198.1. The FTSE 250 index, however, was down 43.7 points at 10,122.1.

Overnight on Wall Street, the DJIA ended 227.49 points lower at 12,601.19, after falling nearly 200 points on Tuesday, while the S&P 500 index closed 22.69 points weaker at 1,390.71, and the Nasdaq composite index shed 43.99 points to finish at 2,456.09.

Wall Street dropped sharply for the second straight session as oil prices set new record highs and a bleak economic assessment from the Federal Reserve deepened investors' worry about rising costs and a shaky employment picture.

Minutes from last month's FOMC meeting revealed that while policymakers expected sharply lower economic growth and higher unemployment later this year, inflationary risks are likely to keep the central bank from cutting rates again.

Oil prices smashed past the $135 a barrel level for the first time in Asian trade Thursday, continuing its astonishing rise following unexpected drops in U.S. crude and gasoline stocks yesterday.

But in Asian stock markets, the Nikkei 225 index ended 52.16 points higher 13,978.46, recovering earlier sharp falls, thanks to a late bargain-hunting rally. Hong Kong's Hang Seng Index, however, ended 417.17 points lower at 25,043.12, with property issues among the biggest fallers.

In London, weakness in financials was the main early drag on sentiment, reflecting the fresh drop on Wall Street following indications from the Fed that further interest rate cuts are unlikely, and that a hike might even be possible in the fall.

Barclays was the biggest banking faller, losing 10 pence at 388, while Royal Bank of Scotland shed 4-3/4 pence at 236-3/4, and Lloyds TSB fell 5-3/4 pence to 389.


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Insurers and fund managers suffered as well, with Standard Life down 5-1/2 pence at 237 and Legal & General off 2.2 pence at 118, while Schroders dropped 22 pence to 1,006 and Old Mutual shed 2.1 pence at 111.3.

London Stock Exchange was, however, the biggest FTSE 100 casualty, losing 65 pence at 1,023 with its fairly in-line full year results failing to impress and its outlook statement cautious. LSE reported a 56 percent rise in full-year profit, buoyed by high levels of trading activity, and said it was confident of further growth this year.

The LSE said its operating profit for the year to March 31 came in at 289 million pounds, up from 186 million pounds the previous year, and marginally ahead of the 279 million pounds penciled in by analysts.

Away from financials, British Airways was also a big faller, down 4.85 pence at 197.9, knocked again by spiraling oil prices as well as a profit warning from peer Air France-KLM.

And the record crude prices continued to weigh on cruises operator Carnival, down 25 pence at 1,828. But, once again, the strong crude prices gave a boost to heavyweight oil majors, with BP adding 4-3/4 pence at 654-1/2, while Royal Dutch Shell gained 12 pence at 2,254, helped by an upgrade to 'buy' from 'hold' by ING in a review of the sector, which raised target across the board following a hike in its long term oil price forecast.

Meanwhile, solid commodity prices and positive broker comment lent support to heavyweight mining issues as well, with both Goldman Sachs and Sanford Bernstein raising target in sector reviews today.

Xstrata gained 61 pence at 4.198, while Anglo American added 45 pence at 3,560, and Rio Tinto gained 68 pence at 6.790. Vedanta Resources missed out though, losing 52 pence at 2,660 after Goldman Sachs downgraded its rating to 'neutral' from 'buy' on valuation grounds, while raising its target to 3,000 pence from 2,660.

Telecom carrier Cable & Wireless was, however, the top blue chip riser, taking on 2.9 pence at 155.4 after forecast beating full year results.

C&W saw its full year EBITDA rise to 605 million pounds, up from 492 million pounds last year, beating consensus figures provided by the international telecommunications operator of 601 million pounds.


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Repeating its 'outperform' rating, Cazenove said C&W delivered a solid set of results supported by very strong cash flow. Telecom incumbent BT Group benefited in C&W's wake, adding 1-1/2 pence at 227-1/4.

On the second line, newspaper publisher Daily Mail & General was the worst performer, shedding 16-1/4 pence at 389-3/4 after its interims disappointed.

DMGT reported an 83 percent fall in first-half pretax profit to 22.6 million pounds, down from 132.8 million pounds a year earlier, while revenue rose to 1.17 billion pounds from 1.11 billion pounds a year ago.

Mid cap peer Johnston Press suffered in sympathy, losing 3 pence at 113-3/4. Among the mid cap gainers, Lloyd's underwriter Catlin stood out, taking on 8-3/4 pence at 398-1/4 after Goldman Sachs upped its rating to 'buy' from 'neutral' on valuation grounds, while leaving its 520 pence price target unchanged.

The broker noted that the property and casualty insurance underwriter has underperformed the sector by around 15 percent amid concerns of its exposure to catastrophe losses and the fall in 2009 consensus as a result of falling yields.

On the macro front, UK April retail sales figures, which are expected to back up recent survey and anecdotal evidence showing the high street is feeling the pinch of the credit crunch. Analysts polled by Thomson Financial News forecast sales to have fallen 0.5 percent in April from March following a 0.4 percent drop the previous month.

On a year-on-year basis, sales are expected to be up 4.1 percent in April compared to up 4.6 percent in March. Aside from the April retail sales numbers, UK Q1 business investment figures are also due out this morning. Analysts are expecting Q1 growth to drop to 0.3 percent, from 1.9 percent in the final quarter of 2007, though the annual rate is seen edging up to 5.4 percent from 5.3.

And the latest CBI monthly industrial trends survey is set to show the manufacturing sector is still struggling, although the falling pound is providing some support by making exports cheaper. Across the Atlantic, the latest US weekly jobless claims numbers are the only pointers of note due today.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here


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Milan

Milan shares TFN market data at 9:21 a.m.; Financial stocks, Fiat leads losers

Main indices:
Mibtel at 25,411 points, down 0.38 percent
S&P/Mib at 32,889 points, down 0.52 percent

Main S&P/Mib losers
Banca Monte dei Paschi di Siena down 2.76 percent at 1.937 euros. According to the Finanza & Mercati daily, FRM-Clessidra and Credit Suisse-Investitori Associati are the two consortia that remain in the race to buy some 66 percent of the bank's asset management operations.

Fiat down 2.24 percent at 14.47 euros, continuing Wednesday's decline Mediolanum down 1.92 percent at 3.5425 eurosFondiaria-SAI down 1.80 percent at 23.55 euros Mediobanca down 1.60 percent at 12.09 euros

Main S&P/Mib gainers
Telecom Italia up 1.53 percent at 1.392 euros

Impregilo up 1.42 percent at 4.28 euros. Wednesday, Italian prime minister Silvio Berlusconi said work on the waste-to-energy (WTE) plant at Acerra, near Naples, will re-start immediately with the plant operative by year-end. In 2000 Impregilo won the tender to manage waste disposal in the Campania Region, where Naples is located, which envisaged the construction of the Acerra WTE plant. In 2005 the tender contract was dissolved but no new operator was identified to manage waste disposal in the area.

Eni up 1.23 percent at 27.20 euros
Saipem up 1.15 percent at 30.83 euros

A2A up 0.94 percent at 2.47 euros. According to the Finanza & Mercati daily, the Northern Italian utility is seen as the favourite to obtain the waste management contract in the Campania region

Other stocks in the news
Banco Popolare down 1.02 percent at 12.95 euros. According to the Finanza & Mercati daily, the bank is ready to sell its 13.29 percent stake in consumer credit group Delta, in a bid to strengthen its capital position

Mediaset down 0.40 percent at 5.205 euros. According to the Corriere della Sera daily the Italian parliament will propose a bill to allow the broadcaster, owned by the family of prime minister Silvio Berlusconi, to keep analogue frequencies for its Rete4 channel


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Frankfurt

German shares TFN market data at 9.15 a.m.

DAX - down 33.73 points, or 0.48 percent, at 7,007.10
MDAX - down 86.47 points, or 0.89 percent, at 9,612.98
TecDAX - down 7.60 points, or 0.88 percent, at 859.22
DAX futures - up 29.50 points, or 0.42 percent, at 7,032.00

MAJOR GAINERS:
EON up 0.91 euros or 0.68 percent at 135.25

Bayerische Motoren Werke up 0.11 or 0.32 percent at 34.86 as Morgan Stanley upgraded it to Overweight.

RWE, up 0.34 or 0.43 percent at 79.82
Deutsche Telekom, up 0.01 or 0.09 percent at 10.73
Merck KgaA, up 0.17 or 0.19 percent at 90.08

MAJOR DECLINERS:
Allianz, down 5.74 euros or 4.62 percent at 118.63 as it went ex-dividend with payment of 5.50 euros per share dividend.

Deutsche Boerse, down 3.88 or 3.90 percent at 95.51 as it went ex-dividend at 2.10 euros per share

Lufthansa, down 0.53 or 3.29 percent at 15.60

Volkswagen, down 3.65 or 1.95 percent at 183.53. Bild newspaper said Germany will let Lower Saxony keep its 20 percent blocking minority vote at AGMs of Volkswagen.

Continental, down 1.17 or 1.48 percent at 78.03


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Amsterdam

Amsterdam shares TFN market data at 10.09 a.m. - AEX off, financials down

MAJOR INDICES
AEX 484.93 points, down 2.69 points or 0.55 percent
AMX 675.28 points, down 0.81 point or 0.12 percent
Government bonds mainly flat

MAJOR DECLINERS
ING was off 1.97 percent to 24.37.

Aegon was down 1.83 percent to 9.65 following a downgrade to 'hold' from 'buy' at Theodoor Gilissen.

Philips shed 1.47 percent to 24.43 after the company agreed to sell Medquist stake to CBay Systems for $287 million. SNS Securities said the sale is positive, as Medquist mostly represented a risk factor. SNS Securities rates Philips at 'buy' with a 32.50 euro price target.

Fortis lost 1.22 percent to 16.18 after the bank said it sees the divestment of ABN's Dutch commercial banking operations by year end, with the general merger on track.

Corio slid 0.34 percent to 58.55 after the company came out with first quarter results late Wednesday. Rabo Securites said the indirect result of 10.2 million euro at first seemed weak but the broker added it had not accounted for the 14.9 million euro negative revaluation result on discontinued activities. Including the one-off, the indirect result met the broker's expectations. Rabo has Corio at 'hold'.

Heineken edged 0.24 percent lower to 37.60 after the brewer said it will acquire Rechitsa brewery in Belarus for an undisclosed amount.

MAJOR GAINERS
Corporate Express was up 2.0 percent to 8.15 after Staples Wednesday said it was'considering all options' after Corporate Express' bid for France's Lyreco.

SBM Offshore rose 1.15 percent to 26.50 after the company sold its FPSO unit to Agip Energy and Natural Resources.

Royal Dutch Shell added 0.91 percent to 28.25 after an upgrade to 'buy' from 'hold' from ING and following news it, Petrobras and Galp have struck oil in Brazil's Santos Basin.

KPN lifted 0.88 percent to 11.49 after the telecom company said it was changing its sale process for its real estate portfolio, selling individual buildings instead of the portfolio in one deal. "Apart from a minor delay in concluding the sale this year, the change in the selling process of real estate does not have an impact in our view," SNS Securities said, rating KPN at 'buy'.

Unibail-Rodamco lifted 0.45 percent to 173.02 after the company said its Vienna shopping center acquisition cost 607 mln euros.

Imtech was up 0.44 percent to 18.14 after the company won build, maintenance contracts in Spain worth a total of 46 mln euros.

Forex
London 0815 GMT Hong Kong 0500 GMT

U.S. dollar
yen 103.34 up from yen 103.09
Swiss franc 1.0279 up from Swiss franc 1.0272

Euro
U.S. dollar 1.5756 down from U.S. dollar 1.5763
yen 162.83 up from yen 162.59
Swiss franc 1.6195 down from Swiss franc 1.6197
pound 0.7991 down from pound 0.7996

Pound
U.S. dollar 1.9717 up from U.S. dollar 1.9708
yen 203.84 up from yen 203.30
Swiss franc 2.0267 up from Swiss franc 2.0238

Australian dollar
U.S. dollar 0.9606 down from U.S. dollar 0.9626
pound 0.4872 down from pound 0.4882
yen 99.22 down from yen 99.29

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
21 May 2008 09:52:31


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London

London shares up early on; commodities gain; FTSE 100 boosted by IFO

UK blue chips were higher early on, driven by strength among commodity stocks and given a fillip by better-than-expected IFO figures out of Germany, with weakness in Asia and Wall Street shrugged aside.

Investors are likely to be slightly cautious ahead of the release of the minutes from this month's Bank of England Monetary Policy Committee meeting.

At 9:09 a.m., the FTSE 100 index was 38.9 points ahead at 6,230.5, while the FTSE 250 index had added 20.2 points to 10,270.5.

"The German IFO is the kind of news the market is looking for at the moment after yesterday's sell-off," said Mic Mills of tradindex.com.

Overnight on Wall Street, the DJIA closed 199.48 points weaker at 12,828.68, while the S&P 500 index shed 13.23 points to 1,413.40 and the Nasdaq composite index dropped 23.83 points to 2,492.26.

U.S. stocks tumbled on Tuesday after oil prices spiked to a fresh record and stronger-than-expected wholesale inflation numbers, which look to have dashed many vague hopes of further U.S. rate cuts.

In Asia, the mood was mixed, with the Nikkei 225 index closing 233.79 points lower at 13,926.30, with the Hang Seng index turning higher, closing up 290.83 points at 25,460.29.

Centre stage on Wednesday's UK economics calendar are the minutes to the last meeting of the Bank of England's rate-setting Monetary Policy Committee, which are likely to show a fairly resounding 8-1 vote in favour of leaving interest rates on hold at 5.00 percent in May.

Arch-dove David Blanchflower is likely to be the only dissenter among MPC members in calling for a second successive cut in rates.

The U.S. Federal Reserve will also release on Wednesday minutes from its last FOMC meeting.

Back with UK equity movements, oil majors lent their considerable support to the FTSE 100 index, as oil stayed above $129 a barrel in Asian trade on Wednesday, driven by concerns over tight global supplies amid strong demand.

Royal Dutch Shell added 30 pence to 2,142 while BP was 10 pence firmer at 638. Tullow Oil, meanwhile, took on 22-1/2 pence to 956, while Cairn Energy was up 89 pence at 3,608.


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And mining issues were helped by firm metals prices. Vedanta Resources was the best off in the sector, adding 51 pence to 2,688, buoyed also by a UBS price target hike to 3,100 pence from 2,600 pence, with Kazakhmys climbing 31 pence to 1,823, Xstrata ticking up 26 pence to 4,183, BHP Billiton rising 23 pence to 2,046, and Rio Tinto 29 pence ahead at 6,625.

In M&A news, Tesco added 0.5 pence to 423.4, as the UK's largest retailer made a 1,200 pence a share cash offer for Dobbies Garden Centres. The supermarket giant, which already owns 65.5 percent of Dobbies, said its offer values the AIM-listed Edinburgh-based garden centre retailer at 124.5 million pounds.

Turning to the fallers, Wolseley lost half a penny to 535-3/4, after the plumbing and building materials distributor issued an interim trading update that Landsbanki said revealed growing pressure in the UK and Europe.

Meanwhile, the world's largest credit checking company Experian reversed initial gains made after reporting full-year figures that topped expectations, with London-based traders pointing out it refused to give a full-year forecast in a conference call.

The shares slipped nearly 2 percent, or 7-3/4 pence to 391, having risen over 2 percent in opening deals after FY numbers which Seymour Pierce said were ahead of expectations, buoyed by acquisitions, which offset the rapid slowing of growth in core markets.

On the second tier, Britvic gained in early deals as investors cheered the soft drinks producer's first-half results, which also showed improving growth trends in the early weeks of the second half, with Altium Securities reiterating its 'buy' recommendation. The shares added 8 pence to 332-1/2.

Meanwhile, Unite Group climbed 4 pence to 305-1/4 after announcing the planned sale of assets for 54 million pounds Wednesday, with Landsbanki offering support by repeating its 'buy' stance in reaction.

And QinetiQ took on 2 pence to 191, as HSBC initiated coverage on the defence contractor with an 'overweight' rating and 230 pence price target, saying it thinks near-term concerns in Europe, the Middle East and Africa mask a wealth of long-term growth opportunities.

Turning to casualties, there were a number of companies trading ex-dividend Wednesday, including Taylor Wimpey, down 11 pence at 110-1/2, Bellway 24-1/2 pence weaker at 665, Inchcape 12-1/4 pence lighter at 427-1/2, and WH Smith off 9 pence at 392-1/2.


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UK Diary of Events:
For a diary of key financial and corporate events in the UK today, click here

US Summary
For a summary of US stocks at yesterday's close of trade, click here

Milan

MILAN - Market data at 9.48 a.m.:

Main indices:

Mibtel at 25,485 points, down 0.07 percent
S&P/Mib at 33,084 points, down 0.10 percent

Main S&P/Mib losers

Unipol down 2.92 percent at 1.66 euros

Fiat down 1.79 percent at 14.97 euros. CEO Sergio Marchionne said Tuesday that the Italian car market was weak in May but that his group is maintaining its market share. According to dealers, Merrill Lynch has confirmed its 'buy' stance on the stock but cut the price objective to 18 euros from 21 euros

Buzzi Unicem down 1.45 percent at 18.83 euros

Mondadori down 1.33 percent at 4.9275

Impregilo down 1.27 percent at 4.42 euros. Wednesday prime minister Silvio Berlusconi will hold a first cabinet meeting in Naples that should also address the waste emergency. Impregilo currently has waste management facilities in the area, from which it plans to exit, which are being carried out under the supervision of a government appointed commissioner

Main S&P/Mib gainers

Seat Pagine Gialle up 1.83 percent at 0.1167 euros. Standard & Poor's Tuesday affirmed its 'BB' long-term corporate credit rating on the Italian directory publisher and kept it on negative outlook

Saipem up 1.45 percent at 30.11 euros

Eni up 1.15 percent at 26.45 euros

Pirelli up 0.99 percent at 0.5625 euros

Parmalat up 0.59 percent at 1.875 euros


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Paris

PARIS - Market data at 10:21 a.m.:

Major indices:

CAC-40 up 11.55 points or 0.23 percent at 5,066.43

SBF-80 up 18.82 points or 0.32 percent at 5,894.27

SBF-120 up 8.54 points or 0.24 percent at 3,678.12

20 CAC-40 stocks up

19 CAC-40 stocks down

1 CAC-40 stock unchanged

Major gainers:

Total up 0.93 euros or 1.63 percent at 57.88 after oil hit fresh record highs on Tuesday

Veolia Environnement up 0.59 or 1.28 percent at 46.73, and Sanofi-Aventis up 0.45 or 0.94 percent at 48.15, as defensive stocks outperformed.

Broadcasters TF1, up 0.69 or 4.95 percent at 14.63, and M6, up 0.43 or 2.85 percent at 15.50

Major losers:

Peugeot down 0.81 or 1.85 percent at 43.00, Renault down 0.80 or 1.19 percent at 66.15. In a review of the auto sector, Merrill Lynch stressed pressures on earnings due to higher material costs. The broker cut its targets for all its 'buy' recommendations in the sector, reducing its Renault target to 90 euros per share from 100.

Pernod Ricard, down 1.56 or 2.13 percent at 71.47

Theolia, down 0.97 or 4.17 percent at 22.29, after SG Securities downgraded the stock to 'sell' from 'hold' on valuation grounds, saying the speculative appeal of the renewable energy producer looks priced in at current levels.

Most active stocks:

Alcatel-Lucent, unchanged at 4.65; 2.7 million shares traded

France Telecom, up 0.13 or 0.65 percent at 20.17; 2.3 million shares


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Brussels

BRUSSELS - Market data at 10.01 am

Main index

Bel 20 down 3.29 points or 0.09 percent at 3,793.56

Bel 20 fallers

Nyrstar drops 0.13 euros or 0.93 percent to 13.90

Mobistar down 0.85 euros or 1.55 percent at 53.95

Fortis falls 0.14 euros or 0.84 percent to 16.56 after it said on Tuesday that it is in talks to take over Delta Lloyd's 51 percent stake in an insurance joint venture with ABN Amro. The full acquisition of the insurance the joint venture "should result in higher than expected revenue synergies from the ABN AMRO deal", says Bank Degroof's Ivan Lathouders.

Agfa-Gevaert loses 0.07 euros or 1.36 percent to 5.43

KBC 0.56 euro or 0.69 percent lower at 80.53

Dexia slides 0.06 euros or 0.37 percent to 16.04

Bel 20 gainers

UCB up 0.43 euros or 1.66 percent at 26.56 after it said fresh data reaffirms long-term effectiveness and safety of Cimzia in treating Crohn's disease

Omega Pharma gains 0.44 euros or 1.54 percent at 28.99

Suez up 0.32 euros or 0.71 percent at 45.56

Outside the Bel 20

Telenet adds 0.07 euros or 0.44 percent to 16.08; Liberty Global, which owns a 51.7 pct stake in the company and is its largest shareholder, has no plans to bid for Mobistar, says Liberty Global CEO Mike Fries in an interview with Belgian daily De Tijd


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Zurich

Swiss shares market data at 10:10 a.m.

Major Indices:

Swiss Market Index 7,609.03 points, down 17.55

Swiss Performance Index 6,401.35 points, down 4.25

Major losers:

Swatch down 4.50 or 1.5 percent at at 288.50, in line with a weak luxury goods sector

Richemont down 0.90 Swiss francs at 65.50, still affected by a Morgan Stanley downgrade on Tuesday

ABB down 1.12 at 32.32 francs on profit-taking

Major gainers:

Novartis up 0.40 at 54.90 francs, still benefiting from recent positive trial results

Forex
London 0741 GMT Hong Kong 0500 GMT

U.S. dollar
yen 103.29 up from 103.17
Swiss franc 1.0367 up from 1.0360

Euro
U.S. dollar 1.5656 down from 1.5665
yen 161.71 up from 161.62
Swiss franc 1.6232 up from 1.6227
pound 0.7965 up from 0.7955

Pound
U.S. dollar 1.9650 down from 1.9680
yen 202.97 up from 203.09
Swiss franc 2.0375 down from 2.0392

Australian dollar
U.S. dollar 0.9586 unchanged 0.9586
pound 0.4877 up from 0.4870
yen 99.03 up from 98.93

[Raggedy Man]

PDOS: Platinum Studios to Receive Ongoing Coverage in the Hollywood Stock Review.

Tuesday May 20, 6:00 am ET

LOS ANGELES--(BUSINESS WIRE)--Platinum Studios Inc. (OTCBB: PDOS - News) announced today that it has engaged Institutional Analyst Inc. (IAI) to provide ongoing coverage of the company, to be distributed to its database of institutional investors specializing in investments within the Entertainment sector. IAI is an independent research and financial relations consulting firm. Coverage will be delivered via "The Hollywood Stock Review" (HSR) newsletter, which provides coverage for publicly-traded entertainment companies. Established in 1995, the Hollywood Stock Review is a wholly owned publication of IAI. The universe of entertainment stocks which IAI analyzes includes large cap companies such as Disney (DIS), Marvel (MVL) and Viacom (VIA) and additionally encompasses small cap companies stocks such as Lions Gate (LGF) National CineMedia (NCMI) and Stereo Vision (SVSN).

"With the recent announcement of our fifth property being optioned, three of which are with a major movie studio, and this being only our fourth month of being a publicly traded entity, we felt this was the opportune time to initiate a relationship with Institutional Analyst Inc," stated Scott Mitchell Rosenberg, Platinum Studios' Chairman and CEO.

"Platinum Studios is a small entertainment company with big plans and great ambitions," stated Roland Perry, editor of the HSR. "Despite its low share price and small-cap market valuation, Platinum Studios, in our opinion, has quickly assembled one of the most impressive, focused and powerful teams of entertainment industry executives we have come across. During the 13 years we have been covering companies in the entertainment business, we have come to understand that despite the 'creative element,' companies have to be rough and tough in Hollywood to survive. After meeting with management in Los Angeles, it is our impression that they are well positioned to emerge as one of the front-runners in the creation of new content across all media platforms around the world. As part of their plan for achieving this, they have set a goal of creating a library valued north of $250 million. The company has built and continues to build its intellectual property portfolio, which currently contains more than 5,600 characters spanning a full range of genres and styles and which we believe is a gold mine of unexploited properties."

"Equally impressive has been the ability of the company’s Filmed Entertainment division to navigate treacherous Hollywood waters and enter into agreements with heavy hitters such as Disney and DreamWorks Studios, in partnership with Universal Pictures and Imagine Entertainment, as well as the producing team of Kurtzman/Orci (“Transformers”). Additionally, they are forging a parallel path with independently financed films, partnering with Ashok Amritraj’s Hyde Park Entertainment (“Street Fighter”) and Arclight Films (“The Bank Job”). Also noteworthy, is the company’s nascent Print Publishing Division which has already secured agreements with HarperCollins (“Cowboys and Aliens”) and Random House a division of Bertelsmann, AG (“Unique”)," he added. "Finally, in light of all the foregoing, with a market valuation under $30 million, and with the example of Marvel’s ‘Iron Man’ grossing $350 million in its first 10 days, the upside for this company’s stock is understandably attractive for aggressive investors."

Brian Altounian, President and COO of Platinum Studios stated, "Platinum employed an alterative method of 'going public' by utilizing the direct registration process after raising $5 million in a private equity offering. While these types of corporate financings are gaining in popularity, they do not possess the same level of publicity and build up of momentum associated with traditional IPOs, thereby resulting in significantly lighter trading activity post effectiveness. Independent research firms such as Institutional Analyst were formed to bridge this market 'awareness gap' by proactively contacting institutional investors -- and in our case, those investors who currently own shares in other entertainment related companies."

"While Platinum hasn't yet gained the attention of Wall Street, it has received considerable coverage in the press from industry sources such as The Hollywood Reporter, Weekly Variety and Daily Variety to full articles in mainstream media including The Los Angeles Times and the New York Times to televised coverage on EXTRA! and CNBC," continued Mr. Perry. "We are in the process of preparing a detailed research report on Platinum Studios covering its various operating divisions including Filmed Entertainment, Print Publishing, Digital Publishing and Merchandising, which will include detailed information on its impressive management team and their goals and aspirations. Platinum's business model does not require it to own every property it represents, only to control the rights to develop it in other media. With the surging wave of worldwide interest in comic books and graphic novels as source material for new content – as evidenced by Iron Man's $200 million worldwide debut weekend for Marvel Entertainment – and the fact that Platinum's CEO Rosenberg was instrumental in bringing the billion-dollar film and television franchise 'Men in Black' to Hollywood, we do not anticipate having any difficulty in attracting a large audience, to begin following the progress of Platinum, as it continues to monetize its current library and build on its considerable intellectual property portfolio."

Investors wishing to be added to the Hollywood Stock Review mailing list can subscribe at http://www.hollywoodstockreview.com or at the Hollywood Stock Review Network site at http://hollywoodstockreview.ning.com/.

About the Hollywood Stock Review:

The Hollywood Stock Review is part of the Industry Stock Review family of Industry specific newsletters covering the top performing companies within Technology, Biotech, Solar, Entertainment, industries. The Internet Stock Review, its flagship letter which was launched in December of 1998, is one of the oldest investment newsletters specializing in the companies which derive benefits from Internet related technologies.

News Links to Platinum Studios:

La Repubblica (Italy):

http://www.platinumstudios.com/news/article.php?article=202

Screen International Daily:

http://www.platinumstudios.com/news/article.php?article=203

Variety:

http://www.platinumstudios.com/news/article.php?article=202

Screen International Daily:

http://www.platinumstudios.com/news/article.php?article=202

Variety:

http://www.platinumstudios.com/news/article.php?article=201

The Hollywood Reporter

http://www.platinumstudios.com/news/article.php?article=201

CNBC: http://www.platinumstudios.com/video/cnbc/

EXTRA: http://www.platinumstudios.com/video/extraKISS/

New York Times:

http://www.platinumstudios.com/news/article.php?article=157

New York Times:

http://www.platinumstudios.com/images/news/142_142_large.jpg

Los Angeles Business Journal:

http://www.platinumstudios.com/news/article.php?article=186

Archive of All News Coverage:

http://www.platinumstudios.com/news/archive.php

About Platinum Studios, Inc.

Platinum Studios (OTCBB:PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile/wireless, gaming, and merchandising. Platinum Studios' library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as www.DrunkDuck.com, the industry's preeminent webcomics community. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms.

To learn more about the company and to sign up for our newsletter, please visit our website at http://www.platinumstudios.com/news/index.php.

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.

Contact:
Platinum Studios, Inc.
Media Requests:
Randy Greenberg, 310-807-8140
[e-mail]
or
Investor Requests:
Thomas Becker, 702-478-7363
[e-mail]

[Raggedy Man]

PDOS: Arclight Films, Platinum Studios, Inc. and Top Cow Productions Partnering to Bring ''Witchblade'' to the Big Screen
Tuesday May 13, 6:00 am ET

LOS ANGELES--(BUSINESS WIRE)--Platinum Studios, Inc. (OTCBB: PDOS - News), in conjunction with Top Cow Productions and Arclight Films, today announced a deal to co-produce a feature film based on the action fantasy thriller “Witchblade.” The best-selling comic book franchise created by Top Cow, has sold over 100 million units worldwide since its #1 debut in 1995.

ADVERTISEMENT
It is anticipated that the film would be shot on location in Australia later this year. The exact story line and nature of the script is being kept under wraps but will stay true to the “Witchblade” mythology which centers around an ornate, jewel-encrusted gauntlet that gives superpowers to the wearer, a chosen female bearer of each generation, who possess it.

Arclight CEO Gary Hamilton, Arclight Production Operations Head Nigel Odell, Platinum Studios’ CEO Scott Mitchell Rosenberg and Steve Squillante of Havenwood Media are all set to produce. Top Cow’s CEO Marc Silvestri and President Matt Hawkins would serve as executive producers as would Platinum Studios’ Rich Marincic. Former Universal Pictures senior executive Randy Greenberg of the Greenberg Group would also executive produce.

The ‘Witchblade’ comic book has been published in over 21 languages and distributed in over 55 countries. Most recently, “Witchblade” was licensed to Gonzo Digimation Holding and made into a Japanese anime TV show. The first season’s 26 episodes ran in 2006 and was the highest anime debut of an American property ever. In 2007, FUNimation released the anime DVD in the U.S. where it became the #1 Anime DVD debut of 2007. The success of the comic book also led to a TV movie in 2000, which spawned TNT series. The property has been licensed and merchandised all over the world into trading cards, posters, lithographs, skateboards, lunch pails, soundtracks, novelizations, and multiple toy lines among many others.

Platinum Studios’ film/TV division has various properties in development at major film studios, including “Atlantis Rising” at DreamWorks and Kurtzman/Orci (“Transformers”) set to produce, “Cowboys and Aliens” again at DreamWorks with Kurtzman/Orci partnering with Universal Pictures partnering with Imagine Entertainment, and “Unique” at Walt Disney Pictures. Platinum Studios also recently announced its partnering with Hyde Park Entertainment to co-produce “Dead of Night”, based on the beloved Italian comic book series, Dylan Dog.

About Platinum Studios, Inc.

Platinum Studios (OTCBB: PDOS - News) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile / wireless, gaming, and merchandising. Platinum Studios' library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such as www.DrunkDuck.com, the industry's preeminent webcomics community. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms. To learn more about the company and to sign up for our newsletter, please visit our website at http://www.platinumstudios.com/news/index.php.

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.


Contact:

Media Requests:
Platinum Studios, Inc.
Randy Greenberg, 310-807-8140
[e-mail]
or
Platinum Investor Requests:
Platinum Studios, Inc.
Thomas Becker, 702-478-7363
[e-mail]

Source: Platinum Studios, Inc.

[SmokingUSA]

UDHC Ulysses Diversified Holdings Corp. Sets Final Tender Date for the Share Exchange With SecureNetView
Thursday May 15, 1:07 am ET

JACKSONVILLE, NY--(MARKET WIRE)--May 15, 2008 -- Ulysses Diversified Holdings Corp. (Other OTC:UDHC.PK - News) today announced that it has set a final date for all SecureNetView Shareholders to tender their shares.

The final tender date will be May 30, 2008 for all SecureNetView Shareholders to tender their shares, at that time all shares will be tabulated and new shares issued per the Ulysses/SecureNetView contract.

The company has set this final tender date as another step in gaining a complete accounting of its outstanding share count. As Ulysses Shareholders are aware the Company has already changed its cusip number, corporate name and trading symbol (to UDHC) as part of the ongoing accounting process of the Company's Securities.

SecureNetView Shareholders have already tendered a majority interest thus Ulysses already has control of SecureNetView, this process is intended to enable the company to complete its ongoing audits.

"As we move forward with the growth of our Company I have issued several directives regarding acquisitions and pending acquisitions to my attorneys and accountants pertaining to Company Shares, 'that they are the same as money and we will protect both in the interest of the Company and its Shareholders,'" said Clayton Young, President of UDHC.

Mr. Young also added, "As we move forward I am determined to know exactly where every share issued is and that they are accounted for, it is my intent to eliminate any shorting or other illegal activities regarding this Company's Securities and I believe we are zeroing in on it."

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.


Contact:

Contact:
Ulysses Holding Corp.
Investor Relations
Tel: [phone]
Website: http://www.ulyssesholding.com


Source: Ulysses Diversified Holdings Corporation

[SmokingUSA]

KOPN Kopin Reports First Quarter 2008 Financial Results

Business Wire via COMTEX

May 6, 2008 4:11:01 PM

Revenue Increases 61% on Strong Performance of III-V and
CyberDisplay

TAUNTON, Mass., May 06, 2008 (BUSINESS WIRE) --

Kopin Corporation (NASDAQ: KOPN) today announced financial results for the first quarter of 2008.

Total revenues for the first quarter of 2008 increased 61% to $29.2 million from $18.1 million for the comparable period of 2007. Display revenue increased 89% to $17.1 million from $9.0 million for the first quarter of 2007, while revenue from III-V products increased 33% to $12.1 million from $9.1 million in the same period of 2007.

Net income for the first quarter of 2008 was $1.0 million, or $0.01 per diluted share, compared with a net loss of $3.3 million, or $0.05 per share, for the three months ended March 31, 2007.

Cash and marketable securities as of March 29, 2008 totaled $88.7 million and the Company had no long-term debt.

"We delivered another quarter of robust top-line growth, powered by momentum from both our III-V and CyberDisplay product lines," said Kopin President and Chief Executive Officer Dr. John C.C. Fan. "In our III-V business, our strategy to improve efficiency, quality and cost by significantly expanding our 6-inch HBT wafer capacity drove strong year-over-year performance in the quarter. In our CyberDisplay product line, demand across our customer end-markets drove year-over-year growth in all three product categories, as revenue from consumer electronics, military and eyewear display applications each posted double-digit percentage growth in revenue during the quarter.

"Our bottom line improved as a result of a favorable sales mix during the quarter which featured the sale of higher margin products. In addition, the first quarter was favorably impacted by lower bad debt expense of approximately $270,000 and foreign exchange gains of approximately $400,000, which were partially offset by higher expenses of approximately $225,000 associated with our 2006 and 2007 SEC filings," Dr. Fan said.

Comments on CyberDisplay Business

"The quality of our displays has positioned Kopin as the premier technology developer and supplier of high-performance transmissive AMLCDs to the U.S. military," Dr. Fan said. "Display product revenue from military applications was $7.3 million in the first quarter of 2008, compared with $4.2 million in the first quarter of 2007, reflecting our successful participation in the U.S. Army's ongoing weapon sight programs. Research and development revenue from contracts for the development of displays for military applications was $1.9 million in the first quarter of 2008 compared with $0.1 million in the first quarter of 2007."

"The weapon sight programs are emblematic of the Army's focus on technology innovation, and Kopin's products have become an important part of the military's investment," Dr. Fan said. "To support these as well as future programs, this month we completed construction and installation in Taunton of a 2,800-square-foot clean room, equipped with specialized instruments, that will be used for High-Level Assembly of eyepieces for military applications."

"Kopin also is working closely with its military partners on the next generation of night vision systems," Dr. Fan said. "In April, we received the first of an anticipated three-phase, $4.2 million award as part of the Army's Manufacturing Technology Program (ManTech) to accelerate our production capability and enhance the performance of our CyberDisplay SXGA LVR microdisplay. As the world's highest resolution microdisplay, Kopin's SXGA LVR together with multi-spectral imaging sensors, provides the highest quality night vision."

"Demand also was very strong on the consumer side of our display business, as revenue from consumer electronics products increased 51% to $5.7 million in the first quarter of 2008 compared with $3.8 million in the first quarter of 2007, and revenue from the sales of displays for video eyewear applications increased to $2.1 million as compared to $1.0 million in the first quarter of 2007," Dr. Fan said. "In the digital still camera market, we are continuing to focus on more advanced models, which offer the potential for higher margins and a larger addressable market. In the video eyewear market, design activity continues to accelerate. The combination of our newly installed 8-inch display manufacturing line and our expertise in volume manufacturing of the world's highest resolution AMLCDs positions us well as the video eyewear category builds momentum."

Comments on III-V Business

"The future of our III-V business is bright," Dr. Fan said. "In April, we announced the extension of our HBT purchase and supply agreement with our long-time customer, Skyworks Solutions, an established leader in RF solutions for mobile communications. Kopin has contracted to fulfill all of Skyworks' 4-inch-diameter and the vast majority of its 6-inch-diameter HBT wafer requirements through July 2010. To accommodate III-V product demand, we recently completed the installation of three new advanced MOCVD reactors at our Taunton facility. These systems enhance our capability to process 6-inch GaAs wafers for HBTs used in both power amplifiers and for a number of new wireless and optoelectronic applications."

Business Outlook

"We are off to an excellent start in 2008, and we are optimistic that our momentum will continue in the quarters ahead," Dr. Fan said. "We are seeing strong growth from all market segments within our CyberDisplay product line, and we are particularly excited about the opportunities in the military and video eyewear markets as we go forward. The outlook for III-V is also very positive. In addition to our extended purchase and supply agreement with Skyworks, we are excited about the longer-term opportunities for our III-V products in areas such as solar cells and wireless broadband. We have installed new capacity and capability for all of our product lines and we are actively improving the performance of our products as well as developing exciting new products. Although we are seeing some indications of a softening in the consumer electronics market segment, based on the strength in other market segments we believe we are on track to achieve our revenue guidance of $105 million to $115 million for 2008."

"We look forward to seeing shareholders at our annual meeting on May 20, 2008. For additional details please visit our website, www.kopin.com," Dr. Fan concluded.

Company Announces Dismissal of Derivative Lawsuits

Kopin today announced that the Massachusetts Superior Court has dismissed two derivative lawsuits filed against Kopin, as a nominal defendant, and certain officers and directors, in connection with the Company's historical stock option granting process, the accounting for past stock options, and historical sales of stock. The plaintiffs may appeal the decision.

First-Quarter Conference Call

In conjunction with its first-quarter 2008 financial results, Kopin will host a teleconference call for investors and analysts at 5:00 p.m. ET today. To hear the conference call, please dial [phone] (U.S. and Canada) or [phone] (International). The call will also be available as a live and archived audio webcast on the "Investors" section of the Kopin website, www.kopin.com.

About Kopin

Kopin Corporation produces lightweight, power-efficient, ultra-small liquid crystal displays and III-V heterojunction bipolar transistors (HBTs) that are revolutionizing the way people around the world see, hear and communicate. Kopin has shipped more than 20 million displays for a range of consumer and military applications including digital cameras, personal video eyewear, camcorders, thermal weapon sights and night vision systems. The Company's HBTs, which help to enhance battery life, talk time and signal clarity, have been integrated into billions of wireless handsets as well as into WiFi, VoIP and high-speed Internet data transmission systems. Kopin's proprietary display and III-V technologies are protected by more than 200 global patents and patents pending. For more information, please visit Kopin's website at www.kopin.com.

CyberDisplay and The NanoSemiconductor Company are trademarks of Kopin Corporation. Kopin - The NanoSemiconductor Company(TM)

Safe Harbor Statement

Statements in this news release may be considered "forward-looking" statements under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These include statements relating to Kopin's expectation that it is positioned as the premier technology developer and supplier of high-performance transmissive AMLCDs to the U.S. military; our expectation that the digital still camera market offers the potential for higher margins and a larger addressable market; our expectation that our expertise in volume manufacturing of the world's highest resolution AMLCDs positions us well as this emerging category builds momentum; our expectation that our future III-V business is bright; our expectation that we are off to an excellent start in 2008, and that we are optimistic that our momentum will continue ahead; our expectation that the outlook for III-V is also very positive; and our expectation that we are on track to achieve our revenue guidance of $105 million to $115 million for 2008. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, manufacturing, marketing or other issues that may prevent either the adoption or rapid acceptance of products; competitive products and pricing; the risk that new product initiatives and other research and development efforts may not be successful; the loss of significant customers; the potential that costs to produce the Company's microdisplay and HBT products will increase significantly, or that yields will decline; the potential that the Company's revenue guidance and product forecasts will turn out to be wrong; the potential that military programs involving Kopin's products will be delayed or cancelled; the potential that the Company's military and commercial customers might be unable to ramp production volumes of their products; market acceptance of video eyewear, digital still cameras, toys, military systems, cellular phones or other products in which Kopin's products are integrated; manufacturing delays, technical issues, economic conditions or external factors that may prevent the Company from achieving its financial guidance; potential claims or liability that could arise as a result of the Company's restatement of its financial statements; and other risk factors and cautionary statements listed in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the 12 months ended December 29, 2007, and the Company's subsequent filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no responsibility to update any of these forward-looking statements to reflect events or circumstances occurring after the date of this report.


Kopin Corporation
Condensed Consolidated Statements of Operations
(Unaudited)

Three Months Ended
-------------------------

March 29, March 31,
2008 2007
------------ ------------

Revenues:
Product revenues $27,015,881 $17,876,493
Research and development revenues 2,149,291 252,988
------------ ------------
29,165,172 18,129,481
Expenses:
Cost of product revenues 20,332,271 15,230,103
Research and development 5,033,374 2,435,833
Selling, general and administrative 3,843,278 4,913,755
------------ ------------
29,208,923 22,579,691
------------ ------------

Loss from operations (43,751) (4,450,210)
Other income and (expense):
Interest and other income 1,391,665 1,280,946
Interest and other expense (9,100) (35,192)
------------ ------------
1,382,565 1,245,754
------------ ------------

Income (loss) before income taxes, minority 1,338,814 (3,204,456)
interest in income of subsidiary and equity
loss in unconsolidated affiliate

Provision for income taxes (211,000) (45,179)
------------ ------------

Income (loss) before minority interest in 1,127,814 (3,249,635)
income of subsidiary and equity loss in
unconsolidated affiliate

Minority interest in income of subsidiary (153,718) (3,582)
Equity loss in unconsolidated affiliate (23,861) (45,608)
------------ ------------

Net income (loss) $ 950,235 $(3,298,825)
============ ============

Net income (loss) per share:
Basic $ 0.01 $ (0.05)
============ ============
Diluted $ 0.01 $ (0.05)
============ ============

Weighted average number of common shares
outstanding:
Basic 67,741,957 67,467,996
============ ============
Diluted 67,746,937 67,467,996
============ ============




Kopin Corporation
Condensed Consolidated Balance Sheets
(Unaudited)

March 29, December 29,
2008 2007
------------ ------------
ASSETS
Current assets:
Cash and marketable securities $ 88,737,890 $ 93,304,317
Accounts receivable, net 20,704,789 15,127,408
Inventory 16,919,219 16,732,060
Prepaid and other current assets 3,272,708 1,981,958
------------ ------------

Total current assets 129,634,606 127,145,743

Equipment and improvements, net 22,239,522 21,927,061
Other assets 12,131,373 11,981,173
------------ ------------

Total assets $164,005,501 $161,053,977
============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 14,758,596 $ 12,652,594
Accrued expenses 6,757,853 6,370,958
Billings in excess of revenue earned 173,851 173,851
------------ ------------

Total current liabilities 21,690,300 19,197,403

Lease commitments 839,839 805,797
Minority interest 3,356,079 3,549,369
Stockholders' equity 138,119,283 137,501,408
------------ ------------

Total liabilities and stockholders' equity $164,005,501 $161,053,977
============ ============

SOURCE: Kopin Corporation

Kopin Corporation Richard Sneider, 508-824-6696 Chief Financial Officer [e-mail] or Sharon Merrill Associates, Inc. Scott Solomon, 617-542-5300 Vice President [e-mail]
Copyright Business Wire 2008

[Polaroid]

Buyer Group Announces Shareholder Update
Tuesday May 6, 1:05 pm ET

MCKINNEY, Texas--(BUSINESS WIRE)--Buyer Group International, Inc. (Pink Sheets:BYRG - News) President & CEO is happy to announce the company has achieved trading status on the Pink Sheets with ticker BYRG.PK as of May 1, 2008.

The company has retained Paradise Capital of Boca Raton as its investor relations firm to manage press releases and investor questions. If you have any questions about the stock, please contact Jason DeOliveira at Paradise Capital. Buyer Group International, Inc. continues to invest and take positions in profitable companies with real estate add-ons that are in need of capital expansion.

The Company’s Objectives for 2008

* Grow Net Investment Equity to $4,000,000 in 2008
* Establish relationships with strategic investors
* Establish mortgage company operations to leverage banking relationships enhancing real estate owned (REO) inventory prospects
* Acquire property in 2008 to add to inventory development base

Executive Leadership - David Bryant is the current President and CEO of Buyer Group International, Inc. He holds a B.A. degree from The University of Texas at Austin, M.B.A. from The University of Texas at Dallas and holds the Harvard Square Chartered LIFA financial analyst designation. He identified a need in the marketplace to return properties to occupancy, whether lease residence or homes that cycle into a steadily growing pool of buyers.

The need for a clearinghouse type of company that reduces bankruptcy and foreclosure in the marketplace creates win-win situations for the stakeholders involved, owners, investors, and bankers. Prior to developing his real estate investing career, David contracted project management for Fortune 500 companies Motorola, Applied Materials, Apple Computer, Dell Computers, and formerly as a Senior Sales for a public telecom company.

[SmokingUSA]

CSPUF Canadian Spirit Resources Inc. Announces Licencing of First Joint Venture Well

Canadian Corporate News via COMTEX

May 6, 2008 6:00:10 AM

CALGARY, ALBERTA, May 6, 2008 (Marketwire via COMTEX News Network) --

Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI) (OTCBB:CSPUF) announces receipt of a drilling licence for the first well in a two well program to evaluate the Montney and other deep formations on its lands at Farrell Creek in northeast British Columbia. This Montney appraisal well, to be located at 5-5-83-24 W6M, will be drilled pursuant to a joint venture arrangement (see News Release dated March 19, 2008) at no cost to the Company. The well is expected to spud in June 2008 immediately following the removal of weight limits on public access roads in the area. Drilling to target depth is expected to take approximately seven weeks.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 tcf of natural gas from unconventional resource plays in western Canada. The Company has identified a 1.8 tcf discovered resource play (see News Release dated May 8, 2007), assembled a unique, 100 percent working interest land position in approximately 40,000 gross acres in northeast British Columbia and is currently evaluating the productive capability of its principal resource property at Farrell Creek, British Columbia.

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

Don Gardner, Chief Executive Officer

The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.

SOURCE: Canadian Spirit Resources Inc.

Canadian Spirit Resources Inc. Don Gardner Chief Executive Officer [phone] [phone] (FAX) Email: [e-mail] Canadian Spirit Resources Inc. Phil Geiger [phone] [phone] (FAX) Email: [e-mail] Website: www.csri.ca
Copyright (C) 2008 Marketwire. All rights reserved.

[SmokingUSA]

CLRT Clarient Partners With Joint Venture Hospital Laboratories to Offer Pathologists Wide Array of Cancer Assays

PR Newswire via COMTEX

May 6, 2008 6:00:00 AM

Agreement Generates New Diagnostic Opportunities at 120 Hospital-Affiliated Labs Nationwide

ALISO VIEJO, Calif., May 6, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --

Clarient, Inc. (Nasdaq: CLRT), a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the pharmaceutical industry, today announced that it has signed a one-year agreement with Joint Venture Hospital Laboratories (JVHL) to provide a wide-range of cancer testing to its 120 hospital-affiliated labs. JVHL is located in Allen Park, Michigan and the agreement is renewable after the first year.

"This partnership provides more testing options for the pathologists and hospitals in the JVHL network," said Paul Valenstein, M.D., President of JVHL. "We are encouraged by this new relationship with Clarient and are pleased to provide our doctors with the benefit of Clarient's cancer assays."

"Working with JVHL and its network hospitals enables Clarient to compete directly with other large laboratories in the managed care markets and gives Clarient access to many new physicians and their patients," said Ron Andrews, CEO of Clarient. "Our agreement compliments our goal to work closely with community pathologists, who through this association will be able to enjoy the benefits of collaborating with a first-class cancer laboratory. We look forward to building upon this impactful association with JVHL for years to come."

About JVHL

The 120 hospital-affiliated laboratories comprising the JVHL Network are committed to providing managed care plan members and participating physicians with the highest quality, convenient and efficient laboratory services. Lab testing is one of the most vital diagnostic tools for all segments of health care. Through JVHL, and its success in contracting with managed care plans, hospital affiliated laboratories can provide their testing and consultative services to hospital and community based physicians and their patients. JVHL holds agreements with 19 managed care companies on behalf of its 120 network affiliated hospitals to provide outpatient and outreach laboratory services to more than 2 million managed care members. http://www.jvhl.org

About Clarient

Clarient combines innovative technologies with world class expertise to assess and characterize cancer. Clarient's mission is to provide the services, resources and critical information to improve the quality and reduce the cost of patient care as well as accelerating the drug development process. The Company's principal customers include pathologists, oncologists, hospitals and biopharmaceutical companies. The rise of individualized medicine as the new direction in oncology has created the need for a centralized resource providing leading diagnostic technologies such as flow cytometry and molecular testing. Clarient is that resource, having created a state-of-the-art commercial cancer laboratory providing the most advanced oncology testing and drug development services available both onsite and over the web. Clarient is a Safeguard Scientifics, Inc. partner company. http://www.clarientinc.com

About Safeguard

Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE) provides growth capital for entrepreneurial and innovative technology and life sciences companies. Safeguard targets technology companies in Software as a Service (SaaS), Technology-Enabled Services and Internet-based Businesses, and life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with capital requirements between $5 and $50 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. http://www.safeguard.com

The statements herein regarding Clarient, Inc. contain forward-looking statements that involve risks and uncertainty. Future events and the Company's actual results could differ materially from the results reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to: Clarient's ability to continue to develop and expand its diagnostic services business, Clarient's ability to expand and maintain a successful sales and marketing organization, Clarient's ability to maintain compliance with financial and other covenants under its credit facilities, the continuation of favorable third party payer reimbursement for laboratory tests, unanticipated expenses or liabilities or other adverse events affecting cash flow, uncertainty of success in identifying and developing new diagnostic tests or novel markers, Clarient's ability to compete with other technologies and with emerging competitors in novel cancer diagnostics and dependence on third parties for collaboration in developing new tests, and risks detailed from time to time in the Company's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Recent experience with respect to laboratory services, revenues and results of operations may not be indicative of future results for the reasons set forth above.

The company does not assume any obligation to update any forward-looking statements or other information contained in this document.

Contact: Matt Clawson Allen & Caron, Inc. [phone] [e-mail]

SOURCE Clarient, Inc.

http://www.clarientinc.com
Copyright (C) 2008 PR Newswire. All rights reserved

[SmokingUSA]

EPGNF Epigenomics AG Reports First Quarter 2008 Financial Results

PrimeZone via COMTEX

May 6, 2008 2:56:09 AM

Key Figures, May 6, 2008 (PrimeNewswire via COMTEX News Network) --

Revenue: EUR 0.9 million in Q1 2008, up by 12% (Q1 2007: EUR 0.8 million) -- EBIT: EUR -3.0 million in Q1 2008, improved by 13% (Q1 2007: EUR -3.4 million) -- Net loss: EUR -2.9 million in Q1 2008, improved by 12% (Q1 2007: EUR -3.3 million) -- Liquid assets: Strengthened at EUR 21.2 million as of 31/03/2008 (31/12/2007: EUR 10.0 million) Highlights of the First Quarter 2008 -- All key financials within expectations: Revenue, EBIT and net loss improved -- Successful capital increase secures funding and provides financial framework for further strategy execution -- Launch of "Epi 2010", a management initiative to extend cash resources: Focus entirely on cancer screening products and further streamlining of organization -- Strategic partnership signed with Quest Diagnostics -- Licensed key technologies to OncoMethylome Sciences -- Launch of first RUO products with partner TIB MOLBIOL -- Optimized assay for colorectal cancer screening test clinically validated and novel biomarkers in prostate cancer program identified -- Final preparation of major colorectal cancer screening study PRESEPT to start in Q2 2008

BERLIN and SEATTLE, May 6, 2008 (PRIME NEWSWIRE) -- Epigenomics AG (Frankfurt:ECX) (Prime Standard), a cancer molecular diagnostics company developing tests based on DNA methylation, today reported financial results for the first quarter of 2008, which ended March 31, 2008.

"We have started with great confidence into 2008 and are very excited about the progress we made in our product development and our commercial partnerships in the first quarter. With the additional liquidity provided by the capital increase in early 2008 and continued financial discipline, we remain committed to delivering on our goals and milestones, and in the process, to building shareholder value. This year will be dedicated to further speed up our key value drivers and set the path for commercialization," commented Geert Nygaard, Chief Executive Officer of Epigenomics, on the first quarter 2008.

Financial Review

Overall, all key financials for the reporting period were fully in line with expectations.

Revenue in Q1 2008 increased by 12% to EUR 916 thousand from EUR 820 thousand in the comparable period of 2007. This increase was due to higher licensing revenue and reimbursements, which are a result of new partnerships, closed in Q1 2008 and successful execution of several ongoing R&D collaborations. With EUR 620 thousand the licensing business contributed 68% to the total revenues, significantly more than in the same period of the previous year (Q1 2007: EUR 61 thousand). The Diagnostics business contributed EUR 106 thousand (Q1 2007: EUR 498 thousand) to total revenues while the contribution of Biomarker Solutions business amounted to EUR 190 thousand (Q1 2007: EUR 260 thousand) mainly through execution of projects partnered with Centocor, Johnson & Johnson, Pharmion, and Pfizer.

Cost of sales amounted to EUR 160 thousand in the reporting period (Q1 2007: EUR 357 thousand) and a more than 63% higher gross profit of EUR 756 thousand (Q1 2007: EUR 463 thousand) was generated. R&D costs decreased from EUR 2.5 million in the first three months of 2007 to EUR 2.4 million in Q1 2008.

Marketing and business development costs decreased from EUR 474 thousand in Q1 2007 to EUR 225 thousand in Q1 2008, and general and administrative costs of EUR 917 thousand by 16% compared to EUR 1,092 thousand in Q1 2007. Other expenses increased to EUR 303 thousand in Q1 2008 from EUR 1 thousand in Q1 2007 mainly due to foreign exchange rate effects.

In Q1 2008, EBIT amounted to EUR -3.0 million, 13% better than the Q1 2007 EBIT of EUR -3.4 million. Net loss for the first three months in 2008 has been reduced by 12% from Q1 2007 (EUR 3.3 million) to EUR 2.9 million in the reporting period. The improvement is mainly explained by the decrease in operating costs, which resulted from the continued strict financial discipline.

Epigenomics' balance sheet total increased from EUR 22.9 million as of December 31, 2007, to a total of EUR 31.7 million as of March 31, 2008. This increase was due to a successful capital increase completed in February 2008 strengthening Epigenomics' cash flow and financial position and overcompensating the continued net cash consumption from operations. In Q1 2008 Epigenomics successfully completed a capital increase initiated in 2007 despite a very difficult market environment. Epigenomics placed the maximum number of 8,458,062 new shares at a price of EUR 1.60 each. As a result of issuing the new shares Epigenomics' subscribed capital as of March 2008 amounted to EUR 26.7 million and the equity ratio rose from 77.8% to 82.8%.

In sum, the financial position has improved in line with expectations with liquid assets amounting to EUR 21.2 million as of March 31, 2008, compared to EUR 10.0 million as of December 31, 2007. Total net cash flow in Q1 2008 was positive at EUR 11.3 million, due to the gross proceeds of EUR 13.5 million resulting from the capital increase. Cash outflow from operating activities in Q1 2008 amounted to EUR 1.7 million.

Operational Highlights

In the first quarter of 2008 Epigenomics successfully completed a capital increase initiated in 2007. The resulting liquidity position provides the financial framework for the years 2008 to 2010. Consequently, Epigenomics' management will assign the highest priority on the clinical development and commercialization of the cancer screening tests as key value drivers and allocate resources accordingly. To secure appropriate funding of the respective product development programs, the management has launched the initiative "Epi 2010" with the goal of extending the Company's cash to reach well into 2010. As a result of an initial review, immediate focus will be set entirely on the development of body-fluid based cancer screening tests, in particular the most advanced colorectal cancer blood test. To reflect this focus, the Company has started to adapt its R&D organization accordingly. Total staff was reduced to 104 at March 31, 2008 from 112 at year-end 2007 as responsibilities of positions vacated mainly by natural fluctuation were reassigned to existing staff. In the process, Christian Piepenbrock, formerly COO, has decided to resign from his Executive Board position and to leave Epigenomics to pursue other career opportunities, effective on April 30, 2008. Dr. Kurt Berlin, CSO, has assumed overall responsibility for all R&D operations with immediate effect.

In line with its non-exclusive licensing and partnering model Epigenomics entered into a further key strategic collaboration with a diagnostics industry partner in Q1 2008. Quest Diagnostics Inc., the leading provider of diagnostic testing, information, and services in the U.S. has obtained the rights to commercialize Epigenomics' Septin 9 biomarker as a laboratory-developed test to aid in the early detection of colorectal cancer. The agreement with Quest Diagnostics complements Epigenomics' licensing agreement with Abbott Molecular, Inc. closed in September 2007 for worldwide non-exclusive IVD rights for colorectal cancer blood testing based on Septin 9.

Further, Epigenomics licensed certain non-exclusive rights to several proprietary core technologies for body fluid and tissue testing to OncoMethylome Sciences S.A. and entered into a strategic cross-licensing agreement with DxS Ltd for their proprietary Scorpions(r) technology. This licensing strategy provides Epigenomics with revenues through down-payments and could provide mid to long term upside through participation in the partners' commercial success via significant royalties on product sales.

All R&D programs for Epigenomics' cancer test products progressed with good success in the first quarter of 2008.

R&D efforts in the colorectal cancer screening test development in Q1 2008 focused on the clinical validation of the technically improved assay and an enhanced testing algorithm for the detection of colorectal cancer with Epigenomics' biomarker Septin 9 in two independent clinical case control studies. The studies were successfully completed in April 2008 and confirmed that the assay optimized for routine molecular diagnostic laboratory use detects colorectal cancer in blood plasma statistically equivalent to the previously used research assay. The improved assay marks a significant milestone towards the development and commercialization of Septin 9 DNA methylation biomarker assays, as it provides a reference for the development of Septin 9 based diagnostic products for colorectal cancer.

As an important next step in the development of Epigenomics colorectal cancer screening test, the Company is in preparation of its PRESEPT study, a multi-center study that aims at demonstrating that Septin 9-based colorectal cancer blood testing satisfies latest U.S. screening guideline requirements and provides a health economic benefit. In Q1 2008, the PRESEPT study protocol was finalized in collaboration with Epigenomics' Medical Advisory Board that was recently strengthened by the appointment of Richard Wender, M.D., Alumni Professor and Chair of the Department of Family and Community Medicine at Thomas Jefferson University in Philadelphia, PA.

During Q1 2008, Epigenomics also made progress in its prostate and lung cancer screening programs. As an interim result from Epigenomics' prostate cancer development program the company reported on the validation of 26 novel biomarkers in a tissue study. Clinical results from further body fluid studies in prostate and lung cancer are expected for the second half of 2008.

In addition, Epigenomics further leveraged its proprietary biomarker and technology-portfolio in the research market in collaboration with TIB MOLBIOL, a high quality German research products company. First test kits were recently launched into the research market in order to encourage ancillary studies by academic and clinical researchers using Epigenomics proprietary biomarkers. Further product launches are scheduled to follow throughout the year.

Outlook

Throughout the year 2008 Epigenomics' most advanced colorectal cancer blood test and key value driver will remain the focus of the Company's development and commercialization efforts.

Epigenomics expects doctors and patients in the U.S. to get first access to Septin 9 blood testing for colorectal cancer through a laboratory-developed test (LDT) to be launched by Quest Diagnostics in the second half of 2008. In Europe, the Company expects to launch a LightMix(r) research product for Septin 9 testing in collaboration with TIB MOLBIOL in Q2 2008.

To further support the market introduction of Septin 9-based colorectal cancer tests, Epigenomics now dedicates significant resources to the PRESEPT study. The qualification of initial clinical sites is already in progress with the recruitment of the first participant scheduled for Q2 2008. First results of an interim analysis may be available as early as Q1 2009 while the final results are to be presented at major conferences later in 2009.

After the recent successful clinical validation of the optimized blood assay for methylated Septin 9 DNA, detailed clinical performance data will be presented at several conferences in Q2 2008.

Throughout 2008, additional clinical data on Epigenomics' test development programs in prostate and lung cancer are expected.

As Epigenomics is in discussions with potential future IVD partners it expects to close another IVD licensing and partnering deal in 2008. Apart from the company's focus on screening products it anticipates closing further deals with biotechnology and pharmaceutical partners throughout the year.

As part of its initiative "Epi 2010", the company will continue to review operations and alternative options to leverage assets outside its clear cancer screening focus and plans to implement potential measures throughout 2008.

Epigenomics' management expects full-year 2008 revenue to grow to EUR 3 to EUR 4 million compared to 2007 revenue of EUR 2.6 million. EBIT for 2008 is also expected to improve and range between EUR -11.5 to EUR -12.5 million compared to 2007 EBIT of EUR -13.5 million. Net cash consumption for 2008 is expected to stay below EUR 10 million and thus be significantly better than the 2007 cash burn of EUR 12 million.

Further Information

The full 3-Months Report 2008 can be obtained from Epigenomics' website at:

http://www.epigenomics.com/en/investor_relations/Financial_Information/

About Epigenomics AG

Epigenomics is a molecular diagnostics company with a focus on the development of novel products for cancer. Using DNA methylation biomarkers, Epigenomics' tests can potentially diagnose cancer at an early stage and thereby may reduce mortality from this dreaded disease.

The company develops diagnostic screening tests for the early detection of cancer. Based on body fluid samples (e.g. blood and urine), these tests are aimed at finding cancer at an early stage before symptoms occur. Epigenomics' product pipeline contains a validated biomarker for the early detection of colorectal cancer in blood plasma, and further proprietary DNA methylation biomarkers at various stages of development for prostate and lung cancer detection in body fluids. For development and global commercialization as in vitro diagnostic test kits, Epigenomics pursues a non-exclusive partnering strategy with diagnostics industry companies. As a first strategic partner, Abbott Molecular Inc. licensed the worldwide non-exclusive IVD rights to Epigenomics' proprietary Septin 9 biomarker for colorectal cancer. Epigenomics also aims at giving patients and doctors early access to these biomarkers through reference laboratory testing services. As a first reference laboratory partner, Quest Diagnostics Inc., the leading provider of diagnostic testing, information and services, obtained the license to commercialize a laboratory-developed test (LDT) for Septin 9 in the U.S.

Partners in the health care industry and the biomedical research community can access Epigenomics' portfolio of proprietary DNA methylation technologies and biomarkers protected by more than 150 patent families through research products, Biomarker Services, IVD Development Collaborations, and Licensing. The company is headquartered in Berlin, Germany, and has a wholly owned subsidiary in Seattle, WA, U.S.A. For more information, please visit Epigenomics' website at www.epigenomics.com.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: Epigenomics AG

Epigenomics AG Dr. Achim Plum, SVP Corporate Development [phone] Fax: [phone] [e-mail] www.epigenomics.com
(C) Copyright 2008 PrimeNewswire, Inc. All rights reserved.

[SmokingUSA]

Curb Records Signs Exclusive Contract With Play MPE(TM)

PR Newswire via COMTEX

May 6, 2008 4:00:00 AM

Agreement Includes Digital Delivery of Releases to Radio and other Industry VIPs

VANCOUVER, British Columbia, May 6, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --

Destiny Media Technologies (OTC Bulletin Board: ) is pleased to announce the signing of an exclusive agreement with Curb Records to use the Play MPE(TM) system to deliver music to trusted recipients. This deal constitutes the continued dominance of Play MPE(TM) as the digital delivery system of choice for the music industry. Both Curb Records and imprint label Curb/Asylum Records, will utilize the Play MPE(TM) System for digital delivery of their pre-release content to radio broadcasters and other music VIPs.

"The Play MPE(TM) service is an incredible tool for us to instantly digital delivery our music to the people that need it now," said Carson James, Senior Vice President Promotion at Curb Records and Curb/Asylum Records. "Their security and the ability to customize our delivery, allows us to maximize our artists' exposure in a way that is easy to use for our clients. Play MPE(TM) is the system of choice for us here at Curb Records."

"Play MPE(TM) is honored to have this exclusive contract with Curb Records," said Dean Ernst, VP of MPE Operations. "Curb is one of the nation's largest major independent labels and one of the most respected. Their artist roster boasts some of the most recognized names in the music business today including Tim McGraw, LeAnn Rimes, Hank Williams Jr., Rodney Atkins, Jo Dee Messina, Clay Walker, Kimberley Locke, Natalie Grant and Plumb, just to name a few. Play MPE(TM) looks forward to working with the great team at Curb Records."

About Curb Records

Curb Records (http://www.curb.com) was started by Mike Curb in 1973, which includes the labels Curb Records and Curb/Asylum Records. Curb's roster includes Rodney Atkins, Bellamy Brothers, Bomshel, Lee Brice, Junior Brown, Jeff Carson, Cowboy Crush, Amy Dalley, Star De Azlan, Michael English, Natalie Grant, Ashley Gearing, Allan Hall, Steve Holy, Frankie Jordan, Cledus T. Judd, The Judds, Kaci, Brian Kennedy, Hal Ketchum, Kimberley Locke, Ronnie McDowell, Tim McGraw, Mercy Me, Jo Dee Messina, Marie Miller, Nemesis Rising, Heidi Newfield, Fernando Ortega, Jonathan Pierce, Plumb, LeAnn Rimes, Rio Grand, Nate Sallie, Sawyer Brown, Selah, Jamie Slocum, Todd Smith, Nicol Sponberg, Ray Stevens, B.J. Thomas, Mark Tinney, Trick Pony, Trini Triggs, Clay Walker, Hanks Williams Jr. and Wynonna. Curb Records also supports charitable programs through the Mike Curb Family Foundation (http://www.mikecurbfamilyfoundation.com).

About Play MPE(TM)

With almost 21,000 users and 80,000 songs from more than 1,000 record labels, including Universal Music Group, EMI Music Group, Sony BMG and Warner Music Group, Destiny's Play MPE(TM) system is the most widely used digital distribution system available to the recording and radio industries. Play MPE(TM) is a secure distribution system that features state-of-the-art encryption to protect content while delivering high definition audio to users in radio, marketing and media. A powerful promotional tool, Play MPE(TM) also allows record companies to distribute video, text and graphics including music videos, CD covers, credits, lyrics, promotions, and other content. More information on Play MPE(TM) can be found at http://www.plaympe.com

About Destiny Media Technologies

Destiny (http://www.dsny.com) is a software development company which provides tools that some of the world's largest media companies use to distribute their content on the Internet.

The MPE(TM) product line is based on two patent pending technologies which give the content owner the choice of locking content or embedding a digital trace that identifies the person that made copies. The Play MPE(TM) (http://www.plaympe.com and http://www.myplaympe.com) music preview service securely moves pre-release music for over thousand record labels to trusted third parties, such as radio stations and media outlets. PODDS(TM) (http://www.podds.ca) is an MPE(R) powered white-label software solution for securely selling music online. Destiny operates their own online store selling digital music to DJ's and online jukeboxes in Canada.

Clipstream(R) is a standards based streaming video solution which reaches more viewers than other technologies at a fraction of the bandwidth cost. Other products require the purchase and maintenance of complicated and expensive streaming servers. With Clipstream(R), content owners simply encode and upload to their existing web server. Visitors to the site don't need to download or install video software. Clipstream(R) products include on demand audio (http://www.clipstreamaudio.com) and video (http://www.clipstream.com), internet radio (http://www.radiodestiny.com), IPTV (http://live.clipstream.com), telephone audio (http://www.audio-mail.com) and solutions for adverting (http://www.clipstreamad.com/) and market research (http://surveyclip.com/) customers.

Safe Harbor Statement

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Company Contact: Steve Vestergaard, CEO Destiny Media Technologies, Inc. [phone] (ext. 222) Email: [e-mail]

SOURCE Destiny Media Technologies

http://www.dsny.com
Copyright (C) 2008 PR Newswire. All rights reserved

[SmokingUSA]

PNWIF PhotoChannel Signs Agreement with Hallmark Cards PLC

Internet Wire via COMTEX

May 6, 2008 5:00:37 AM

PhotoChannel to provide and operate Online Card site for Hallmark in the UK

VANCOUVER, BRITISH COLUMBIA, May 06, 2008 (MARKET WIRE via COMTEX News Network) --

PhotoChannel Networks Inc. (TSX VENTURE: PN)(OTCBB: PNWIF) ("PhotoChannel" or "PNI") the leading innovator in online digital media solutions for retailers announces that it has signed a three year agreement with Hallmark Cards PLC ("Hallmark"), a division of Hallmark Cards, Inc., to provide and operate an online greeting card site for Hallmark and their customers.

This new online offering combines PhotoChannel's PNI Digital Media Platform with a new Flash based greeting card builder customized for Hallmark. When the service launches later this month it will allow consumers to select from and completely customize thousands of Hallmark card templates. The consumer may also choose to add their own personal digital images or use those provided. The text edits are displayed in real-time and the size and color of the font can be changed at the user's discretion. The finished card can be quickly and easily previewed and upon completion, the PNI Platform renders the card for final output and delivers it to the Hallmark approved production facility. The printed card is then delivered to the recipient via mail. The service also includes features which allow the purchaser to create a whole years worth of cards for different occasions and the cards will automatically be created and mailed to the intended recipient on the pre-selected date.

"The new card builder we have created delivers Hallmark a best in class solution that will allow them to merchandise and sell their vast card content online," says Peter Fitzgerald, Chairman and CEO of PhotoChannel. "Once again we have leveraged the versatility of our platform to deliver a product which may or may not include photos, while allowing complete consumer input and creating an online transaction. The market is starting to understand that PNI is much more than just the front end - our underlying power is in the transport and transaction layer of our platform. We are pleased to be Hallmark's partner in the UK."

About PhotoChannel - Founded in 1995, PhotoChannel operates PNI Digital Media to provide services for major retailers, wireless carriers and content providers. The PNI Digital Media online platform, along with kiosk software provided by its wholly owned subsidiary, Pixology Software Limited, connects consumer ordered digital content with retailers that have on-demand manufacturing capabilities for the production of merchandise. PNI Digital Media generates transactions for retailers and their thousands of locations worldwide including Wal-Mart, Sam's Club, Costco, CVS/pharmacy, Tesco and Boots. For more information please visit www.pnidigitalmedia.com.

Contacts: PhotoChannel Networks Inc. Mr. Kyle Hall [phone] ext. 313 PhotoChannel Networks Inc. Ms. Niti Maini [phone] ext. 313 Email: [e-mail] PhotoChannel Networks Inc. Investor Information 1-800-261-6796 Website: www.pnidigitalmedia.com

SOURCE: PhotoChannel Networks Inc.

mailto:[e-mail] http://www.pnidigitalmedia.com
Copyright 2008 Market Wire, All rights reserved.

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
06 May 2008 09:54:44


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London

London shares edge up early on, despite NY slide; record prices aid oil stocks

At 9:01 a.m., the FTSE 100 index was up 6.9 points at 6,222.4, while the FTSE 250 index added 100.0 points at 10,390.8.

In the US, Wall Street pulled back Monday following Microsoft Corp.'s decision to withdraw its bid for Yahoo Inc.

The Dow Jones industrial average fell 88.66, or 0.68 percent, to 12,969.54. Broader stock indicators also declined. The Standard & Poor's 500 index fell 6.41, or 0.45 percent, to 1,407.49, while the Nasdaq composite index fell 12.87, or 0.52 percent, to 2,464.12.

Today in Asia, the Nikkei 225 index was closed, while Hong Kong's Hang Seng Index ended the morning up 10.76 points at 26,194.71.

Elsewhere, World oil reached a new record price above $120 a barrel on Tuesday as concerns over the United States economy eased, spurring demand for the commodity.

New York's main oil futures contract, light sweet crude for June delivery, reached an all-time high in electronic trade of $120.23 a barrel, breaking the last record of $120.20 reached during intraday trade on Monday.

Brent North Sea crude for June delivery jumped 26 cents to $118.25 a barrel.

These record prices naturally aided oil stocks, with Tullow Oil the top FTSE 100 riser, up 120 at 880, boosted further by news Tuesday it has a "significant" intersected a column of light oil at the Mahogany-2 well.

Sector peers also rose, with BG Group up 22 at 1,283 and Cairn Energy 57 higher at 3,130.


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Meanwhile, the mining sector had a strong start after Copper prices briefly surged to a new record Monday on supply concerns.

The sector was also supported by Xstrata, which said first-quarter copper, semi-soft coking coal, platinum, ferrochrome, mined zinc and lead production rose from the year-earlier period.

Xstrata added 39 to 4,230, Vedanta Resources rose 80 at 2,435 and Rio Tinto was up 194 to 6,300.

On the downside, banking stocks had a weak start to the day, after investors overlooked Lloyds TSB in-line trading update and instead focused on news of write-downs in the first quarter.

Lloyds shares lost 4-1/2 to 448, while HBOS fell 1-1/2 to 494 and Alliance & Leicester was down 8 at 532.

Meanwhile, a bearish note from Morgan Stanley knocked the property sector early on, as British Land fell 19-1/2 at 709 after a double downgrade to 'underweight' from 'overweight', while Land Securities dropped off 35 to 1,533 after being cut to 'underweight' from 'equal-weight'.

Midcap peer Brixton fell 3-1/2 pence to 301-1/2 after also being downgraded to 'underweight' from 'overweight'.

Negative broker comment also sent International Power lower, down 9-1/2 at 434-3/4, after Goldman Sachs cut its recommendation to 'sell' from 'neutral', on valuation grounds.


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Elsewhere, a bearish note from Deutsche Bank and the impact of higher oil prices hit the airlines, with British Airways the top FTSE 100 faller, down 8 to 240-3/4, while midcap peer EasyJet lost 12-3/4 to 311-1/2 after being downgraded to 'hold' from 'buy' at Deutsche.

Continuing on the second line, the top midcap riser was Taylor Nelson Sofres, up over 11 percent, or 24-3/4 to 239-3/4, after news it has rejected an unsolicited bid proposal from WPP Group.

in further M&A talk, most of the housebuilders were higher on sector consolidation hopes, as press reports suggest Bellway has approached rival Redrow with plans for a 1.3 billion pounds merger.

Redrow added 12-3/4 at 276, while Bellway added 20-1/2 to 737, however Bovis Homes dropped 15-1/2 to 455-1/2 after a disappointing trading statement.

Among the fallers, Aberdeen Asset Management lost 1-1/2 to 147-3/4 after uninspiring first half results.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here




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Paris

Paris shares TFN market data 10.40 am; shares track U.S. lower; Veolia tumbles

Major indices:
CAC-40 down 25.07 points or 0.50 percent at 5,038.29
SBF-80 down 24.34 or 0.42 percent at 5,768.35
SBF-120 down 17.53 or 0.48 percent at 3,650.01

9 CAC-40 stocks up
31 CAC-40 stocks down

Major gainers:
ArcelorMittal, up 1.62 euros or 2.79 percent at 59.70 Orpea, up 1.25 or 3.54 percent at 36.56. The nursing home operator announced a 31.6 percent jump in first-quarter sales to 160.1 million euros, with 11.7 percent organic growth

Technip, 0.80 or 1.39 percent ahead at 58.56; Total, up 0.11 or 0.19 percent at 54.58. Oil prices surged to a new record above $120 per barrel on Tuesday

NYSE Euronext, up 0.36 or 0.82 percent at 44.14. The bourse operator unveiled a 53 percent jump in first-quarter pro forma net profit to $241 million or 91 cents per share

Major losers:
Nicox, down 3.56 or 24.48 percent at 10.98. The French pharmaceuticals company said on Tuesday Pfizer Inc. has decided not to launch a phase III study for the PF-03187207 drug under the companies' joint research programme

Veolia Environnement, 2.04 or 4.44 percent lower at 43.86, after the group missed consensus estimates for first-quarter operating profit

Alstom, down 3.35 or 2.23 percent at 146.94, following a report in the Wall Street Journal claiming the engineering group is being investigated for alleged bribes to win contracts Nexity, down 1.60 or 5.28 percent at 28.72. Morgan Stanley cut the pan-European property sector to 'cautious' in a note on Tuesday


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Frankfurt

German shares TFN market data at 10:25 a.m.

DAX - down 20.80 points, or 0.29 percent, at 7,031.28
DAX - down 38.71 points, or 0.41 percent, at 9,517.63
TecDAX - up 1.42 points, or 0.17 percent, at 845.49
DAX futures - down 9.00 points, or 0.13 percent, at 7,075.00

Major Decliners:
Hypo Real Estate, down 0.62 euros, or 2.62 percent, at 23.66, after the commercial financier released first-quarter figures analysts and traders said were slightly worse than expected.

Lufthansa, down 0.26 euros, or 1.50 percent, at 17.11, as oil prices rose significantly overnight. Munich Re, down 1.33 euros, or 1.05 percent at 125.91, under pressure after reinsurance peer Swiss Re reported disappointing first-quarter numbers.

Commerzbank, down 0.25 euros, or 1.06 percent, at 23.3 Deutsche Boerse, down 1.07 euros, or 1.04 percent, at 102.03, under continued pressure after posting disappointing April numbers on Friday for its Eurex derivatives exchange and Xetra cash equities platform.

Major Gainers:
Adidas, up 1.77 euros, or 4.38 percent, at 42.17, after the sport equipment manufacturer released surprisingly strong first-quarter bottom-line figures that trounced expectations. Infineon, up 0.28 euros, or 4.43 percent, at 6.60, as dealers pointed to a boost for the chipmaker, saying there were indications that chip prices would increase in May.

RWE, up 1.29 euros, or 1.72 percent, at 76.22
MAN, up 1.64 euros, or 1.77 percent, at 94.47

Henkel, up 0.29 euros, or 1.02 percent, at 28.66, ahead of first-quarter numbers on Wednesday.

Other Stocks in the News:
MDAX-listed Hannover Re, up 1.12 euros, or 3.13 percent, at 36.91, after releasing strong first-quarter figures.


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Milan

Milan shares TFN market data at 9:52 a.m. - Fastweb, STMicro lead rebound

Main indices:
Mibtel at 26,215 points, up 0.20 percent
S&P/Mib at 34,553 points, up 0.17 percent

Main S&P/Mib gainers
Fastweb up 2.27 percent at 21.20 euros ahead of the release of first-quarter results, due out before the market opens on Wednesday

STMicroelectronics up 2.15 percent at 7.925 euros Lottomatica up 1.61 percent at 20.88 euros ahead of first-quarter results, due out later Tuesday, which are expected to show the group's Italian operations
offsetting weakness in its GTECH unit in the United States

Unipol up 1.56 percent at 2.1775 euros, with results due out Thursday Tenaris up 1.30 percent at 17.70 euros ahead of the release of first-quarter results due out Wednesday

Main S&P/Mib losers
Fiat down 0.57 percent at 14.90 euros Telecom Italia down 0.37 percent at 1.364 euros Generali down 0.31 percent at 28.59 euros. First-quarter results are due out Thursday

Geox down 0.20 percent at 9.505 euros
Mediobanca down 0.26 percent 13.33 euros

Other stocks in the news
Buzzi Unicem up 0.57 percent at 17.04 euros. Lehman Brothers initiated the stock with an 'equal-weight' stance and a 20.0 euros target which already reflects the muted outlook for 2008

Eni up 0.28 percent at 25.34 euros. According to Beglian media reports, Distrigas shares are suspended pending an announcement from its parent company Suez. Eni is in the short-list and is said to be offering the best price to buy Suez's 57.25 percent in Distrigas

Safilo up 1.78 percent at 1.89 euros ahead of the release of first-quarter results later Tuesday that are expected to be hit by the dollar's slide against the euro, a softer economy and challenging comparatives from the previous year

Forex - Pound falls sharply on weak UK services PMI data

LONDON - The pound fell sharply after news of a unexpectedly sharp drop in UK services sector activity during April.

The latest CIPS services PMI index slumped to 50.4 from 52.1 in March, taking it close to the 50 mark, below which would mark contraction in the sector. The reading is the lowest since March 2003, when the war in Iraq began.

At 9.36 a.m., the pound was trading at 1.9656 against the U.S. dollar, down from $1.9688 just prior to the release, while the euro rose to 0.7876 against the UK currency from 0.7855 previously.

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ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
30 Apr 2008 09:48:47


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London

London shares mixed early on ahead of Fed rates decision; BSkyB higher

At 9:06 a.m. the FTSE 100 was down 3.4 points at 6,086.0, while the FTSE 250 was up 44.1 at 10,051.5. On Tuesday, the FTSE 100 fell 1 point to close at 6,089.4. Wall Street turned in a mixed performance Tuesday as investors traded cautiously ahead of the Federal Reserve's Wednesday decision on interest rates.

The Fed, facing a faltering economy but also rising inflation, is expected to cut interest rates by another quarter point after its two-day meeting concludes Wednesday, after the UK market closes. Many investors believe policy makers will then signal that they are planning to hold rates steady at 2 percent for a while.

This expectation has boosted the dollar, which has helped push oils and metals prices lower. Brent has fallen back from recent record levels of above $117 a barrel and was trading at about $113.50 this morning.

The Dow Jones Industrial Average fell 39.81, or 0.31 percent, to 12,831.94.

Back among UK equities, BSkyB was up 15 pence at 555-1/2 in early trade after the company said it added 56,000 net new customers in the third quarter and saw a year-on-year improvement in the number of customers defecting to rivals.

Nine-month sales rose 10 percent to 3.706 billion pounds, while operating profit fell as the company continued to shell out for its broadband investment.

Argos owner Home Retail Group was up 8-3/4 at 251 after it reported an expected 15 percent increase in full year underlying pretax profit, but said its home improvement business Homebase has made a "weaker than anticipated" start to the new year.


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Landsbanki retained its 'hold' rating. Standard Life was 2-1/4 higher at 250 after the Edinburgh-based insurer said total sales in the first quarter increased 8 percent, beating forecasts and boosted by growth in its core UK division.

Still with insurers, Admiral Group was the top FTSE 100 riser in early trade, up 33 at 853-1/2 after Citigroup upgraded to 'buy' from 'hold', largely on valuation grounds following recent weakness in the shares.

On the downside, gas producer BG Group fell back from yesterday's record closing high and was 35 pence lower at 1,273 pence after it reported a 76 percent rise in net profit in the first quarter, buoyed mainly by its robust liquefied natural gas business and higher oil and gas prices and production.

Overnight, BG made a 6 billion pounds takeover bid for Australia's Origin Energy Ltd. Miners were lower on weaker metals prices. Rio Tinto was 149 lower at 5,861; BHP Billiton was off 34 at 1,784. Vedanta was the biggest FTSE 100 faller, down 93 at 2,257.

Kazakhmys was 27 lower at 1,621 after it reported a fall in copper cathode production due to severe winter conditions. Antofagasta was 4-1/2 lower at 778-1/2 ahead of a copper production report.

Among the midcaps, Game Group rose 7 to a 12-month high of 271-1/2 on rumours of a bid form Texas-based Gamestop.

Bodycote International was up 31-3/4 at 243-1/4 after an upbeat trading statement, in which it it said it may sell its testing unit.

Partygaming was 1-1/2 lower at 25 after the world's biggest online gaming business reported a 21 percent rise in first quarter revenues and said it was confident about its prospects for 2008.


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PartyGaming benefited from a run of favourable results during the comparable quarter in 2007 but said the first quarter of 2008 was impacted by "exactly the opposite".

In economics, UK house prices were 1.0 percent lower during April compared with a year earlier, the first year-on-year fall for 12 years, according to building society Nationwide.

Higher mortgage rates and tighter lending criteria meant buyers stayed away from the property market during April, causing the average house price to fall 1.1 percent from March to 178,555 pounds.

Finally, UK consumer confidence fell to its lowest for nearly 16 years during April as fears about a major economic slowdown continued to mount, according to a pollster.

GfK NOP's monthly consumer confidence barometer fell sharply to -24 in April from -19 in March, its lowest level since November 1992 when the country was still reeling from the UK's exit from the European Exchange Rate Mechanism two months earlier.

The fall was driven by falling confidence in the UK economy as a whole, with the index measuring sentiment about the general economic situation over the past 12 months dropping 10 points since March to -53.

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For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here


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Milan

Milan shares TFN market data at 9.51 a.m.

Main indices:
Mibtel at 25,682, up 0.27 percent
S&P/Mib at 33,938, up 0.29 percent

Main S&P/Mib gainers
Luxottica up 2.89 percent at 18.31 euros on a firm luxury sector
Italcementi up 1.77 percent at 13.92 euros

Banco Popolare up 1.91 percent at 12.82 euros after it reached an agreement with Credit Agricole to create a consumer credit joint venture in Italy. The deal will allow the bank to increase its Tier 1 ratio by 70 basis points and its core Tier 1 by 50 basis points.

Bulgari up 0.94 percent at 7.44 euros

Impregilo up 1.17 percent at 3.92 euros after announcing a consortium it leads has been awarded a 630 million euros contract to build part of the Pedemontana Lombarda motorway A2A up 0.47 percent to 2.36 euros after Morgan Stanley cut its target to 3.3 euros from 3.5 euros but maintained 'overweight'. Reports said the group is close to acquiring small local utility Aspem Varese.

Fiat up 0.42 percent at 14.65 euros on reports it could conclude a production deal today with Serbia's Zastava Intesa Sanpaolo up 0.31 percent at 4.78 euros despite reports KBW has cutting its rating to 'underperform' L'Espresso up 0.61 percent at 2.22 euros after UBS cut its target to 2.35 euros from 2.85 euros

Main S&P/Mib losers
Tenaris down 1.29 percent at 16.37 euros on a soft utility sector
BPM down 1.16 percent at 8.06 euros
Saipem down 1.45 percent at 28.45 euros

STMicroelectronics down 0.72 percent at 7.59 euros after Lehman Brothers cut its target to 8 euros from 10 euros and kept its 'underweight'

Other stocks in the news
Saras down 2.19 percent at 3.16 euros after JP Morgan cut to 'neutral'. The company said it is ready to spend up to 1 billion euros for an acquisition. Edison up 0.78 percent at 1.56 euros after Morgan Stanley cut its target to 2.6 euros but kept its 'overweight'


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Madrid

Madrid shares market data at 10:10 a.m. - broad market flat; Telefonica, BME up

IBEX-35 index 13,718.4, up 7.30 points.

Major gainers:
Telefonica, up 0.12 euros at 18.57 on hopes for growth opportunities in Italy and Germany after the company appointed former spokesperson for Spain's conservative party Eduardo Zaplana as European delegate yesterday.

BME, up 1.40, or 4.61 percent, at 31.75, boosted by forecast-beating first-quarter results and a hefty dividend announcement.

Prosegur, up 0.18 at 27.64 after solid first-quarter results yesterday after the close, leading both Deutsche Bank and UBS to reiterate 'buy' recommendations on the stock.

Itinere, up 0.40 or 7.09 percent at 6.04, extending yesterday's almost 20 percent gain on relief that its public offering, which was feared to undercut the company's value, was pulled due to market conditions.

Major losers:
Repsol YPF, down 0.18 at 25.91, extending yesterday's losses on fears that Sacyr will have to sell its 20-percent stake as it struggles to refinance debt following the failed IPO of its Itinere unit.

Main banks, with Santander down 0.05 at 13.65 and BBVA off 0.06 at 14.64.

Selected domestically focused banks with Popular down 0.06 at 10.99, Sabadell off 0.02 at 6.38 and Bankinter down 0.05 at 9.79.


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Amsterdam

Amsterdam shares TFN market data at 10.21 am - slightly higher in holiday trade

MAJOR INDICES
AEX 472.65 points, up 1.43 points, or 0.30 percent
AMX 656.48 points, up 1.31 points, or 0.20 percent
Government bonds mainly higher

MAJOR GAINERS
Reed Elsevier up 1.28 percent at 11.87 euros
ING up 1.08 percent at 24.34 euros
Unibail-Rodamco up 0.91 percent at 165.65 euros

Heineken up 0.70 percent at 37.42 euros; reinstated at 'outperform' at Credit Suisse with a target of 47 euros KPN up 0.64 percent at 11.79 euros; kept at 'buy' at ING after first quarter results yesterday

AMG up 1.64 percent at 44.10 euros
Boskalis up 1.32 percent at 39.15 euros

MAJOR DECLINERS
ArcelorMittal down 0.95 percent at 56.06 euros
Randstad down 0.77 percent at 27.05 euros
Vedior down 0.34 percent at 17.74 euros

TNT down 0.16 percent at 24.88 euros; target cut to 31 euros from 37 at SNS after market close last night

ASMI down 1.84 percent at 14.94 euros
Ordina down 0.94 percent at 10.53 euros

Forex
London 0839 GMT Hong Kong 1:00 p.m. (0500 GMT)

U.S. dollar
yen 104.17 up from 103.97
Swiss franc 1.0395 up from 1.0364

Euro
U.S. dollar 1.5533 down from 1.5582
yen 161.75 down from 161.92
Swiss franc 1.6150 unchanged
pound 0.7903 down from 0.7917

Pound
U.S. dollar 1.9659 down from 1.9680
yen 204.77 up from 204.54
Swiss franc 2.0426 up from 2.0391

Australian dollar
U.S. dollar 0.9332 down from 0.9345
pound 0.4745 down from 0.4748
yen 97.21 up from 97.10

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
25 Apr 2008 09:49:30


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London

London shares up early on after U.S. gains; UK banks rally; eyes on GDP

At 9:12 a.m., the FTSE 100 index was up 25.4 points at 6,076.1, with the FTSE 250 index 55.9 points higher at 10,030.3. "The FTSE opened firmer this morning as yesterday's rally on Wall Street carried over this side of the pond," said Mic Mills from tradindex.com.

"News from Merrill has added some more credence to the feeling that the worst of the credit crunch has been weathered," he added.

Overnight on Wall Street, the DJIA closed 85.73 points firmer at 12,848.95, while the Standard & Poor's 500 index rose 8.89 to 1,388.82 and the Nasdaq Composite index climbed 23.71 points to 2,428.92.

In Asia, the mood was mixed, with the Hang Seng index closing 164 points lower at 25,516.78, and the Nikkei 225 index ending 322.60 points higher at 13,863.47.

On the economics front, the UK economy is expected to have grown at its slowest rate in two-and-a-half years in the first quarter of the year as the credit crisis takes its toll.

Analysts reckon Friday's quarterly GDP figures will show growth dipped to 0.5 percent from the previous quarter, dragging the annual rate down to 2.6 percent from 2.8 percent.

Back with equity movements, strength was seen among banking issues on Friday, with Alliance & Leicester up 8 pence at 501, HBOS adding 10-1/4 pence to 499-1/4, Lloyds TSB taking on 8 pence to 444 and Barclays rising 5-3/4 pence to 461.


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Elsewhere, a retreat in oil prices helped lift shares in British Airways, up 3-3/4 pence at 216-1/2, TUI Travel, which gained 1-3/4 pence to 234, and Thomas Cook, 3-1/4 pence firmer at 260-1/2.

World oil prices, which had threatened to break the $120-per-barrel level, fell further in Asian trading on Friday after a strengthening U.S. dollar and rising U.S. crude stockpiles prompted traders to lock in profits.

Meanwhile, shares in Thomson Reuters continued their rally ahead of first-quarter results next week, up 39 pence at 1,598. And a broker upgrade helped bolster shares in Carphone Warehouse, which advanced 39 pence to 1,598, with Morgan Stanley lifting its rating to 'overweight' from 'equal-weight'. The broker said much of the recent share weakness appears to have been caused by concerns about Carphone Warehouse's seeming inability to turn profits into cash.

Morgan Stanley said it thinks it unreasonable to expect a company growing so fast to generate cashflow. Turning to the casualties, WPP headed the loserboard, off 5.4 percent or 34 pence at 596, after the advertising and marketing group reported weaker-than-expected first-quarter organic growth of 5 percent, with revenues affected by a slower March in western Europe.

Meanwhile, Aviva shed 11-1/2 pence to 615, as falling sales in its key UK division clouded otherwise decent results, prompting Merrill Lynch to keep a 'neutral' rating on the stock.

Earlier, the UK insurer reported sales in the UK dipped 3 percent to 2.769 billion pounds, with the company blaming reduced consumer demand for saving products amid growing economic uncertainty. Merrill Lynch said Aviva's long-term savings came in 5 percent below its expectations, albeit 1 percent above consensus.


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And shares in Pearson fell, down 1-1/2 pence at 663-3/4 on profit taking as the education and newspaper publisher said it has made a "good start" to 2008 and added it is trading in line with the expectations set out in its preliminary results announcement on March 3.

Elsewhere, Imperial Tobacco shares were 17 pence weaker at 2,524, with The Financial Times reporting the competition watchdog is expected on Friday to unveil wide-ranging allegations of cigarette price-fixing involving tobacco companies and retailers.

On the second tier, Go-Ahead was the best off, up 130 pence at 1,580, after the group said third-quarter trading was strong and added it sees its full-year performance in line with its expectations and significantly ahead of last year's record results.

Sector peers rallied in response, with Stagecoach up 9 pence at 212 and blue chip Firstgroup adding 22 pence to 550.

Among casualties, easyJet shares lost 2 pence at 286 after ABN Amro downgraded its stance to 'hold' from 'buy' as part of an airline sector review, citing recent record highs in oil, slowing premium traffic and weakening consumer confidence.

As such, it has made sharp reductions to all its airline estimates and is not surprised many investors would not want to touch airline stocks.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here


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Frankfurt

German shares TFN market data at 10:20 a.m.

DAX - up 62.70 points or 0.92 percent at 6,884.02
MDAX - up 36.93 points or 0.40 percent at 9,218.44
TecDAX - up 8.54 points or 1.01 percent at 851.80
DAX futures - up 42.00 points or 0.61 percent at 6,932.50

Major Gainers:
BMW jumped 1.12 euros or 3.34 percent to 34.70 as investors welcomed the company's move to hike risk provisions by 236 million euros to safeguard against defaulted loans and delayed payments, as well as the company's reiteration of full-year guidance.

Deutsche Boerse, up 2.68 euros or 2.93 percent at 94.10

Deutsche Lufthansa, up 0.48 euros or 2.76 percent at 17.85, after the airline said operating profit is set to at least remain flat this year, though it aims for an improvement, adding there is "nothing to fear from possible headwinds".

Hypo Real Estate, up 0.55 euros or 2.35 percent at 23.91

Major Decliners
BASF, down 3.70 euros or 3.94 percent at 90.13, mainly a technical effect, as the shares traded without the rights to a dividend of 3.9 euros per share for the first time.

Volkswagen, down 4.13 euros or 2.23 percent at 181.20, after its biggest shareholder Porsche failed Thursday night to get approval at the annual shareholders meeting for its proposal to scrap Lower Saxony state's 20 percent blocking minority in VW.

ThyssenKrupp, down 0.30 euros or 0.75 percent at 39.61
Linde, down 0.50 euros or 0.53 percent at 93.89
Metro, down 0.22 euros or 0.45 percent at 48.53

Other Stocks in the News:
MDAX-listed ProSiebenSat.1 plummeted 3.48 euros or 25.63 percent to 10.10, after the broadcaster said first-quarter recurring EBITDA dropped 25.1 percent on falling revenues from its German-language free TV operations.

TecDax-listed Software AG slid 0.14 euros or 0.32 percent to 43.87 after the stock was downgraded to "neutral" from "buy" at Merrill Lynch.

Dax-listed Bayer rose 1.12 euros or 2.09 percent to 54.81, adding to yesterday's surge, after it released first-quarter earnings that exceeded market expectations. James Knight, an analyst at Collins Stewart, lifted his price target on Bayer to 62.9 euros from 57.7 euros.


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Paris

Paris shares TFN market data at 10:35 am; shares rise, led by tech stocks

Major indices:
CAC-40 up 46.64 points, or 0.95 percent, at 4,976.19
SBF-80 up 43.38, or 0.78 percent, at 5,626.50
SBF-120 up 32.93, or 0.92 percent, at 3,598.75

33 CAC-40 stocks up
7 CAC-40 stocks down

Major gainers:
Alcatel-Lucent, up 0.31 euros, or 7.64 percent, at 4.37; STMicroelectronics, up 0.32, or 4.46 percent, at 7.39. Ericsson shares soared in Friday morning deals after the Swedish group's first-quarter results came in far better than expected, buoyed by good sales growth

Credit Agricole, up 0.52, or 2.50 percent, at 21.35. Financial stocks are rebounding in Friday's renewed market rally Seb SA, up 10.80, or 9.98 percent, at 119.00, after posting consensus-beating sales and operating profit figures for the first quarter of 2008

Valeo, 0.99, or 3.93 percent, ahead at 26.15. Net profit and operating profit for the first quarter were well ahead of consensus thanks to strong operating improvements

Major losers:
Air Liquide, down 1.24, or 1.27 percent, at 96.16. Credit Suisse downgraded the chemicals group to 'underperform' from 'neutral' following Thursday's first-quarter figures Pernod Ricard, down 0.74, or 1.00 percent, at 73.26. Dresdner Kleinwort downgraded the drinks groups to 'add' from 'buy'

Most active stocks:
STMicroelectronics, 3.54 million shares traded
Axa, up 0.53, or 2.28 percent, at 23.51. 2.13 million shares traded


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Amsterdam

Amsterdam shares TFN market data at 10.13 a.m. - Randstad up on results

MAJOR INDICES
AEX 469.76, up 3.62 points, or 0.78 percent
AMX 655.94, up 3.05 points, or 0.47 percent
Government bonds lower

MAJOR GAINERS
Randstad added 2.32 percent to 26.85 euros, as the staffing company posted first-quarter results at the top end of forecasts, saying it expects moderate revenue growth in the second quarter

TNT added 3.03 percent to 24.80 euros. Dutch media said Friday that TNT's Dutch mail competitor Sandd sees market share of Sandd, Selekt Mail at 18 percent in 2010, not the 50 percent seen by TNT to justify its Dutch wage restraint wishes

ASML gained 2.27 percent to 18.93 euros, as Samsung Electronics Co Ltd. on Friday delivered first-quarter profit that beat market expectations, easing worries about a flagging memory chip market

USG People gained 1.97 percent, buoyed by Randstad's well received figures Fugro was 0.89 percent up at 55.38 euros, as it said Friday it has acquired BKS Surveys Ltd., an aerial mapping services company based in Northern Ireland, from Amalgamated Metal Corp. for an undisclosed sum.

OPG was 0.82 percent stronger at 17.20 euros, despite reporting first-quarter results that failed to meet analysts' expectations

MAJOR DECLINERS
Wolters Kluwer was the only blue chip decliner, down 0.23 percent at 17.06 euros On the midcap, LogicaCMG fell 1.35 percent to 1.46 euros as Merrill Lynch cut its rating on the stock to 'neutral' from 'buy'

Pharming was off 3.45 percent at 0.84 euros as German rival Jerini gained European approval for its lcatibant drug. The drug is a competitor of Pharming's Rhucin, which was denied European approval earlier this year

Forex
London 0815 GMT Hong Kong 0500 GMT

U.S. dollar
yen 104.65 up from yen 104.20
Swiss franc 1.0420 up from Swiss franc 1.0353

Euro
U.S. dollar 1.5573 down from U.S. dollar 1.5678
yen 162.98 down from yen 163.25
Swiss franc 1.6215 down from Swiss franc 1.6237
pound 0.7897 down from pound 0.7938

Pound
U.S. dollar 1.9720 down from U.S. dollar 1.9741
yen 206.37 up from yen 205.51
Swiss franc 2.0532 up from Swiss franc 2.0441

Australian dollar
U.S. dollar 0.9309 down from U.S. dollar 0.9394
pound 0.4721 down from pound 0.4758
yen 97.32 down from yen 97.80

[SmokingUSA]

CYBL Air National Guard to Purchase Cyberlux BrightEye Tactical LED Lighting Systems

PR Newswire via COMTEX

Apr 24, 2008 6:39:00 PM

Aviation & Safety Division to deploy high-performance tactical lighting systems to 10 Aviation Support Facilities

RESEARCH TRIANGLE PARK, N.C., April 24, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --

Cyberlux Corporation, (OTC Bulletin Board: CYBL), a leading provider of LED lighting solutions, announced today that the Company has received a purchase commitment for 10 BrightEye Dual Lighthead Tactical Illumination Systems from the Air National Guard. The initial Air National Guard order for 10 BrightEye Systems equates to $187,412 in revenue. In December 2007, the National Guard Bureau purchased 17 BrightEye Systems, a $313,004 purchase order, to equip the Nation's emergency response CERFP teams.

Over the last year, Cyberlux has worked with select Air National Guard units to evaluate the BrightEye products in order to refine the capabilities of the Cyberlux portable visible and night-vision compatible illumination systems. The Air National Guard intends to deploy the 10 BrightEye Dual Lighthead Tactical Illumination Systems to Aviation Support Facilities across the country. The BrightEye Systems will be used for aircraft maintenance lighting, expeditionary base lighting and other high-intensity lighting applications that require rapid deployment and a small size/weight footprint.

"We are excited to see the Air National Guard make this initial purchase of BrightEye Systems. This order is a result of the level of capability and performance our BrightEye Systems will deliver to the Air National Guard's Aviation Support Facilities," said Mark Schmidt, president and chief operating officer for Cyberlux. "There are hundreds of Aviation Support Facilities that service and maintain the National Guard aircraft and we anticipate expanding the BrightEye use to each Facility over the next several years. This order is the first step in deploying our BrightEye tactical lighting solution across the Air National Guard's aviation maintenance operations."

Earlier this week, a Cyberlux team of specialists participated in the National Guard's Vigilant Guard 2008 event and demonstrated the BrightEye 4M Tower Illumination System and the BrightEye Dual Lighthead Tactical Illumination System during various disaster response exercises. Importantly, the Cyberlux team was deployed with the Air National Guard's Emergency Medical Support (EMEDS) unit to provide the remote lighting capability for the EMEDS Operations Center. The EMEDS unit used the BrightEye 4M Tower for lighting the triage operations area while the Operations Center entry check point was lit by the BrightEye Dual Lighthead System. Inside the operating room, the BrightEye Dual Lighthead System was demonstrated for the EMEDS surgical team during their emergency surgical exercises. The BrightEye systems performed flawlessly during emergency medical exercises and the EMEDS units plan to pursue the BrightEye systems for field deployment.

The Air National Guard's federal mission is to maintain well-trained, well-equipped units available for prompt mobilization during war and provide assistance during national emergencies, such as natural disasters or civil disturbances. During peacetime, the combat-ready units and support units are assigned to most Air Force major commands to carry out missions compatible with training, mobilization readiness, humanitarian and contingency operations such as Operation Enduring Freedom in Afghanistan. The Air National Guard provides almost half of the Air Force's tactical airlift support, combat communications functions, aeromedical evacuations and aerial refueling. In addition, the Air National Guard has total responsibility for air defense of the entire United States.

The BrightEye Portable Illumination Systems are designed as visible and night-vision compatible illumination system for mission-critical tactical lighting requiring rapidly deployable, high-intensity lighting capability. Using advanced optics, advanced solid-state lighting technology, and light- weight advanced battery power, all contained in easily transportable wheeled cases, the BrightEye Systems are capable of eliminating the space-consuming bulk, noise and energy consumption of the current generator-powered incandescent lighting systems. Unique to the marketplace, the BrightEye Systems provide broad area visible white lighting and night-vision compatible IR lighting capable of operating all night on an advanced battery power system, capabilities not available in traditional lighting systems.

The BrightEye Systems are available through the General Services Administration (GSA) Federal Supply Schedule 56 for Specialty Lighting products under Cyberlux GSA Contract GS-07F-9409S.

About Cyberlux Corporation

Cyberlux Corporation (OTC Bulletin Board: CYBL) has created breakthrough LED lighting technology that provides the most energy efficient and cost effective lighting solutions available today for consumer, commercial and military uses. The Military and Homeland Security products deliver unique, covert, and advanced visible lighting capability for threat detection, force and asset protection. Cyberlux uses solid-state semiconductors, trademarked as its diodal(tm) lighting elements, which consume 75% less energy than incandescent lighting elements and perform for over 20 years in contrast to 750 hours for conventional bulbs. For more information, please visit www.cyberlux.com.

Investor Contact:

Richard Brown, [e-mail] / 617-314-7379

This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors, including, but not limited to, the Company's ability to expand its financing concurrent with the Company's growth. The Company's business is subject to significant risks and uncertainties discussed more thoroughly in Cyberlux Corporation's SEC filings, including but not limited to, its report on Form 10-KSB for the year ended December 31, 2007. The Company undertakes no obligation to publicly release the result of any revisions to these forward- looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE Cyberlux Corporation

http://www.cyberlux.com
Copyright (C) 2008 PR Newswire. All rights reserved

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
18 Apr 2008 09:47:29




London

London shares higher at open, New York steady; RBS rights issue talk

UK blue chips were higher in early deals this morning, but eased off opening highs rallying after yesterday's falls thanks to a steady performance overnight on Wall Street with banking issues in focus ahead of numbers today from U.S. giant Citigroup and amid revived RBS rights issue talk.

At 9:20 a.m., the FTSE 100 index was 13.9 points firmer at 5,994.3, while the FTSE 250 index was down 2.4 points at 10,087.0.

Overnight on Wall Street, the DJIA ended 1.22 points higher at 12,620.49 after a volatile session, having been 41 points lower at London's close Thursday. The broader S&P 500 index ended 0.85 points firmer at 1,365.56, but the Nasdaq composite index shed 8.28 points to close at 2,341.83.

In Asia, the Nikkei 225 index closed 78.15 points higher at 13,476.45, while the Hang Seng index at midday was 15.76 points firmer at 24,274.72.

Oil prices continued to trade above $115 a barrel in Asian trade, boosted by a weakening U.S. dollar.

In London, UK banks were an early focus once again ahead of Citigroup's earnings news today, with big credit crunch-related write downs expected, and after a report in the Financial Times that RBS is possibly preparing to launch a massive rights issue.

Shares in RBS were 4-1/2 pence lower at 361-1/2, while HBOS Plc. lost 8-1/2 at 541-1/2, Barclays Plc. fell back 6-1/4 at 472-1/2, and Lloyds TSB Group Plc. dropped 8-1/4 at 434-1/2.

This morning, several press reports said RBS is preparing a rights issue to replenish its capital reserves. The reports come after months of speculation the bank could tap investors for up to 12 billion pounds to rebuild its balance sheet, depleted by its acquisition of parts of Dutch rival ABN Amro last year, as well as 1.6 billion pounds in write-downs as a result of the credit crunch.

In a statement today, RBS noted speculation about a possible rights issue but only confirmed it will cover trading performance and capital issues in its interim management statement on April 23.

Panmure Gordon said it thinks this would be bad news for RBS, given uncertainties about further write-downs, impairment charges and higher capital requirements. Panmure Gordon maintained its 'sell' recommendation on RBS.


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Elsewhere, real estate investment trust Liberty International was weaker after a cautious AGM update.

The commercial property firm said it expects adjusted net asset value in the three months to end March to decline 6.65 percent as commercial property valuation yields continue to rise. In reaction, Liberty International shares lost 7 pence at 1,015.

Peer Hammerson was also lower, down 14 pence at 1,035 impacted by a downgrade in stance from 'neutral' from 'buy' by UBS in a sector review looking at the retail exposure of REITs.

The same broker, however, hiked its rating for British Land to 'buy' from 'neutral' as it focused on its out-of-town operations.

Mining issues were also a feature today as metal prices steadied but sector consolidation hopes faded.

Talk that BHP Billiton could be on the brink of raising its takeover offer for peer Rio Tinto were seemingly dashed again overnight in Australia. Rio Tinto shares lost another 20 pence at 6,120, while BHP Billiton was down 7 pence at 1,808.

But after recent falls, ENRC shares rallied 26 pence higher to 1,298, Lonmin added 2 pence at 63, and Antofagasta firmed 10 pence at 798.

Tate & Lyle was the top FTSE 100 riser, adding 21 pence at 537-1/2 after the FT Market report regurgitated talk the firm could be on the brink of selling its sugar operations.

And, ahead of Q1 numbers in the drugs sector next week, vague talk again that Shire could be a bid target for AstraZeneca pulled its shares 18-1/2 pence higher to 943-1/2.

But newly-merged media group Thomson Reuters was once again the biggest FTSE 100 faller, losing another 38 pence at 1,522 after shedding over 14.5 percent on its debut yesterday.

ABN Amro initiated coverage on the group with a 'sell' stance and price target of 1,500 pence on Thursday because it foresees a material cyclical slowdown in the market data business.


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There were few features on the second line.

Expro International shares extended yesterday's strong gains, up another 48 pence to 1,493 after Thursday's news a consortium consisting of Candover Partners and Goldman Sachs made a 1,435-pence-a-share all-cash bid, valuing the energy services group at over 1.6 billion pounds.

Ferrexpo shares were also in demand again, 13 pence higher at 390, after news yesterday the company has agreed to an average price rise of more than 90 percent for its iron ore pellets with its initial group of framework contract customers.

And home shopping group Findel rallied after sharp falls yesterday following a full-year profit warning, taking on 8-1/4 pence at 288-1/4.

On the downside, housebuilders once again got a kicking following yesterday's full-year profit warning from Taylor Wimpey and as two brokers weighed in with downgrades today.

UBS downgraded its ratings for both Taylor Wimpey and Barratt Developments to 'neutral' from 'buy' in a UK housebuilding review, while Citigroup cut its stances on both Bovis Homes and Redrow to 'sell' from 'hold'. In reaction, Taylor Wimpey shares lost another 4 pence at 154-1/4, while Bovis Homes shed 13 pence at 352, Barratt Developments was off 6-1/2 pence at 352, and Redrow down 4-1/4 pence at 276-1/2.

And pubs operator Punch Taverns and Mitchells & Butlers were also lower after Punch confirmed it has ended talks with third parties in relation to a deal involving M&B. In reaction, Landsbanki downgraded its rating for Punch Taverns to 'reduce' from 'hold' with a 530-pence price target, and maintained its 'hold' rating on M&B.

Punch Taverns shares shed 26 pence at 596 and M&B shares were off 13-3/4 pence at 332, while blue-chip Enterprise Inns lost 6 pence at 406-1/4.

On the macro front, UK March public finances are expected to remain in improvement mode, with the PSNB seen at 8 billion pounds compared with 7.1 billion pounds in the same month last year. The PSNCR meanwhile is seen at 18.5 billion pounds from 17.3 billion pounds.

CML March mortgage lending data is also due for release today. No major economic data is scheduled for release across the Atlantic today.

UK Diary of Events
For a diary of key financial and corporate events in the UK today, click here

US Summary
For a summary of US stocks at yesterday's close of trade, click here


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Milan

MILAN - Market data at 9.31 a.m.:

Main indices:

Mibtel at 25,391 points, up 0.65 percent
S&P/Mib at 33,428 points, up 0.80 percent

Main S&P/Mib gainers

Prysmian up 2.43 percent at 15.39 euros

Tenaris up 1.96 percent at 16.79 euros

Banca Popolare di Milano up 1.67 percent at 7.965 euros with reports saying that its chairman wants to give investment funds a place on the internal auditors board of the bank

Banca Monte dei Paschi di Siena up 1.36 percent at 2.7975 after the bank Thursday gave the mandate to negotiate the sale of the 13 percent stake held in Finsoe. In its 2008-2011 business plan BMPS said it sees a potential book value for its Finsoe stake at some 293 million euros

UniCredit up 1.51 percent at 4.71 euros

Main S&P/Mib losers

Pirelli down 0.87 percent at 0.514 euros

Fastweb down 0.24 percent at 19.75 euros

Geox down 0.22 percent at 8.81 euros

Atlantia down 0.14 percent at 20.92 euros

Parmalat down 0.13 percent at 2.275 euros

Other stocks in the news

Banco Popolare up 0.81 percent at 11.67 after it denied earlier media reports according to which it intended to hike its stake of some 31 percent in Banca Italease




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Frankfurt

FRANKFURT - Market data at 9:50 a.m.

DAX - up 53.95 points or 0.81 percent at 6,753.76

MDAX - up 93.62 points or 1.04 percent at 9,067.19

TecDAX - up 4.9 points or 0.61 percent at 821.07

DAX futures - up 16.00 points or 0.24 percent at 6,790.00

Major Outperformers:

Fresenius Medical Care, up 0.72 euros or 2.31 percent at 31.90 euros, on vague rumours that Baxter, the world's second-largest supplier of dialysis products after FMC, is considering a 42 euro per share bid for the German dialysis giant.

TUI, up 0.41 euros or 2.28 percent at 18.36 euros

Commerzbank, up 0.39 euros or 1.79 percent at 22.21 euros

ThyssenKrupp, up 0.58 euros or 1.49 percent at 39.46 euros

Deutsche Bank, up 0.94 euros or 1.26 percent at 75.64 euros

Major Decliners

RWE, down 2.68 euros or 3.47 percent at 74.65 euros, after Merrill Lynch added the stock to its 'Least Preferred' list of utility issues, saying it sees limited earnings growth potential in the years ahead.

Munich Re, down 3.87 euros or 3.05 percent at 122.88 euros

Deutsche Boerse, down 1.82 euros or 2.03 percent at 87.68 euros

Henkel, down 0.08 euro or 0.29 percent at 27.25 euros

Deutsche Post, down 0.04 euro or 0.20 percent at 20.08 euros


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Amsterdam

AMSTERDAM - market data at 10.09 a.m

MAJOR INDICES

AEX 465.62 points, up 3.08 points, or 0.67 percent

AMX 644.26 points, up 1.58 points, or 0.25 percent

Government bonds mainly lower

MAJOR GAINERS

ASML up 2.02 percent to 17.65 euros, extending yesterday's gains. Petercam downgraded the stock to 'hold' from 'add'

TNT up 1.25 percent to 24.23 euros as ING upgraded the stock to 'buy' from 'hold'

Philips up 1.39 percent to 23.96 euros

Ahold up 1.41 percent to 9.71 euros

Spyker up 3.61 percent to 6.89 euros amid news board member board member Richard Borsboom will resign on June 1

Draka up 3.74 percent to 23.05 euros amid reports a shareholder will urge the company at next week's AGM to sell its 34.8 percent stake in Oman Cables

MAJOR DECLINERS

Randstad down 1.75 percent to 26.91 euros as Morgan Stanley double-downgraded the stock to 'underweight' from 'overweight', slashing its price target to 20 euros from 46 euros

Randstad takeover target Vedior followed suit, down 1.00 percent to 17.91 euros

Pharming down 2.27 percent to 0.86 euros after reporting a widened loss for the first quarter amid ongoing uncertainty about the company's Rhucin product

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
16 Apr 2008 09:50:23




London

London shares firmer early on after New York gains; strength among miners

At 9:11 a.m., the FTSE 100 index was up 29.6 points at 5,936.5, with the FTSE 250 index 72.6 points ahead at 9,976.8.

Overnight, Wall Street closed the session higher, after stronger-than-expected New York region manufacturing data, which helped ease concerns about the U.S. economy. Investors were also encouraged by earnings news from Johnson & Johnson and Intel Corp.

The Dow Jones Industrial Average closed up 60.41 points at 12,362.47. Broader stock indicators also advanced. The Standard & Poor's 500 index rose 6.11 points to 1,334.43, while the Nasdaq composite index added 10.22 points to 2,286.04.

Mixed signals came from Asia on Wednesday, with the Nikkei 225 index up 155.55 points at 13,146.13, while the Hang Seng reversed earlier gains, and was down 28.52 points at 23,872.81.

Oil prices eased in Asian trade ahead of a key report on U.S. energy stockpiles. In afternoon trade, New York's main oil contract, light sweet crude for delivery in May, was 20 cents lower at $113.59 a barrel. The contract earlier topped $114 for the first time, hitting $114.08 after floor trading closed on Tuesday at the New York Mercantile Exchange.

Brent North Sea crude for June delivery was 32 cents lower at $111.26 a barrel. Brent for May expired on Tuesday at a record $111.31 after reaching an intra-day high of $112.08.

Back with UK equities, miners featured on the FTSE 100 leaderboard. Rio Tinto said on Wednesday its iron ore sales reached record levels in the first quarter though production was lower than the final quarter of 2007 after its Western Australian operations were disrupted by cyclonic weather and power outages.


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The world's third-largest miner said aluminium output was at a new high during the quarter, reflecting the first full-quarter contribution from Canada's Alcan Inc., which Rio took over last year in a $38.1 billion deal.

Rio Tinto shares rallied 65 pence to 6,071, while Eurasian Natural Resources gained 40 pence to 1,300, Lonmin took on 75 pence to 3,180, Kazakhmys was up 39 pence at 1,713, BHP Billiton added 29 pence to 1,799, and Vedanta Resources was 52 pence ahead at 2,426.

Banks were also in favour, following quarterly results from U.S. banks on Tuesday, and with investors looking ahead to earnings, from the likes of JP Morgan and Citi, with all eyes on whether there will be further writedowns.

Royal Bank of Scotland added 8-3/4 pence to 357-1/4, with Barclays up 11-1/2 pence at 460-1/2, HBOS 9 pence ahead at 523-1/2, and Lloyds TSB adding 5-1/4 pence to 432-1/4.

These gains come as UK Prime Minister Gordon Brown is set to meet Wall Street bankers.

But it was Experian that led the blue chips higher, up 6.74 percent, or 24 pence at 380, after the world's largest credit checking company revealed second-half organic revenue growth of 2 percent, which Merrill Lynch said was better than expected.

Elsewhere, Morrison climbed 4-1/2 pence to 288, after Deutsche Bank upgraded its rating to 'buy' from 'hold'.

A broker upgrade also helped lift shares in AstraZeneca, up 8 pence at 2,130, as ING lifted its rating to 'hold' from 'sell', while raising its price target on the stock to 2,200 pence from 1,760 pence.


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Turning to the casualties Legal & General shares were lower, off 5.1 pence at 125.8, after the company posted first-quarter worldwide new business of 372 million pounds compared with 368 million a year ago, but warned that volatility in investment markets is causing some deferral of individual annuity purchases, and that the savings market is tougher in 2008 than in 2007.

Merrill Lynch reiterated its 'neutral' rating on L&G in reaction.

Also on the back foot was SABMiller, down 13 pence at 1,091, after the drinks giant said fourth-quarter volume growth continued to slow, particularly in China and Latin America, while full-year organic growth in lager volume growth increased 7 percent for the year.

On the second tier, Aveva was the stand out gainer, up 46 pence at 1,136, as the group said it expects full-year results to be slightly ahead of current market consensus expectations as levels of demand have remained consistent in its target markets across all geographies.

Meanwhile, strength was seen among housebuilders, with Bellway and Redrow up 20-1/2 pence at 781, and 7-3/4 pence at 285-1/2, respectively, following recent losses.

On the downside, Aquarius Platinum topped the loserboard, off 46-1/2 pence at 804, with UBS cutting its rating to 'neutral' from 'buy' following recent strong gains in the share price.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here




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Milan

Milan shares TFN market data at 9.22 a.m.; Parmalat slumps in rising market

Main indices:
Mibtel at 25,055, up 0.61 percent
S&P/Mib at 32,925, up 0.58 percent

Main S&P/Mib gainers:
Banca Popolare di Milano up 2.81 percent at 7.76 euros after reports that activist investment fund Algebris has bought a stake of nearly 2 percent in the cooperative bank

STMicroelectronics up 2.31 percent at 6.765 euros, rebounding after recent weakness and helped by better than expected first quarter results from Intel overnight Telecom Italia up 1.87 percent at 1.417 euros rebounding after recent weakness

Banca Monte dei Paschi di Siena up 1.62 percent at 2.6725
Bulgari up 1.59 percent at 6.96 euros

Main S&P/Mib losers
Parmalat down 6.11 percent at 2.23 euros after a New Jersey court judge scaled down the number of requests and damages claimed by the group against Citigroup over its alleged role in Parmalat's 2003 collapse. The trial against Citigroup will begin on May 5

Impregilo down 0.71 percent at 3.615 euros
Atlantia down 0.56 percent at 21.14 euros
Lottomatica down 0.53 percent at 3.62 euros
Prysmian down 0.49 percent at 14.64 euros

Other stocks in the news
Tiscali up 7.67 percent at 2.26 euros after setting May 5 as the deadline to present non-binding bids for the company or its assets, with bidders including News Corp.'s satellite television unit Sky. Also studying the offer is Vodafone while BT and Carphone Warehouse could be interested in the UK assets


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Frankfurt

German shares TFN market data at 9.20 a.m.

DAX - up 50.29 points, or 0.76 percent, at 6,635.34
MDAX - up 75.92 points, or 0.86 percent, at 8,974.75 points
TecDAX - up 13.93 points, or 1.74 percent, at 812.37 points
DAX futures - up 14.50 points, or 0.22 percent, at 6,690.52

Major Underperformers:
Henkel, down 0.27 euro, or 0.98 percent, at 27.42
Deutsche Boerse, down 0.17 euro, or 0.18 percent, at 93.37

Volkswagen, up 0.04, or 0.02 percent, at 180.35
RWE, up 0.07 euro, or 0.09 percent, at 77.10
Metro, up 0.06 euro, or 0.12 percent, at 49.28

Major Outperformers:
Infineon, up 0.28 euro, or 6.13 percent, at 4.85 on the back of Intel's Q2 forecasts. Hypo Real Estate, up 0.51, or 2.76 percent, at 18.98

Siemens, up 1.22 euros, or 1.77 percent, at 70.30
Adidas, up 0.65 euro, or 1.60 percent, at 41.24
Commerzbank, up 0.28 euro, or 1.36 percent, at 20.90

Other stocks in the news:
MDAX-listed Arques Industries AG. said it will not propose a dividend for 2007 and instead will retain the profit "to develop and strengthen the current portfolio".


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Amsterdam

Amsterdam shares TFN market data at 10.10 a.m. - ASML leads decliners

MAJOR INDICES
AEX 456.77 points, up 3.49 points or 0.77 percent
AMX 632.47 points, up 6.38 points or 1.02 percent
Government bonds mainly lower

MAJOR GAINERS
ArcelorMittal up 1.90 percent at 54.26 euros. The steel giant said its 50-50 joint venture with Nippon Steel Corp., I/N Kote, will spend $240 million to expand its facility in New Carlisle, Indiana

TomTom added 1.43 percent to 20.58 euros as Deutsche Bank initiated coverage with a 'hold' rating and a 20 euro price target

Fortis added 0.49 percent to 16.50 euros. Fortis Investments chairman Richard Wohanka said its Asian operations will contribute more to group profit in 2010-2012 than its European operations, Belgian newspapers report.

Corporate Express was 0.42 percent stronger at 7.09 euros. The company said Wednesday it has sold its Dutch unit Veenman to Xerox for 43 million euros in cash.

MAJOR DECLINERS
ASML was off 0.79 percent at 15.07 euros as the market reacted to weak first-quarter bookings and a lowered full-year sales outlook

Heineken fell 1.46 percent to 37.71 euros, as Keijser Capital reduced its rating to 'reduce' from 'hold' and cut its target to 34 euros from 38

Forex
London 8.37 a.m. Hong Kong 1:00 p.m. (0500 GMT)

U.S. dollar
yen 101.62 down from 101.65
Swiss franc 1.0043 down from 1.0070

Euro
U.S. dollar 1.5841 up from 1.5799
yen 160.93 up from 160.62
Swiss franc 1.5912 unchanged 1.5912
pound 0.8034 down from 0.8047

Pound
U.S. dollar 1.9722 up from 1.9622
yen 200.34 up from 199.48
Swiss franc 1.9800 up from 1.9762

Australian dollar
U.S. dollar 0.9298 up from 0.9264
pound 0.4712 down from 0.4720
yen 94.41 up from 94.18

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
09 Apr 2008 09:51:12


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London

London shares weak at open after falls in New York, Asia; HBOS drops

UK blue chips were lower in opening deals, extending yesterday's falls after weak showings overnight on Wall Street and in Asia, with HBOS the biggest early faller in reaction to a downgrade by Credit Suisse to 'underperform' from 'neutral' as part of a UK banks review.

At 9.14 a.m., the FTSE 100 index was 15.1 points lower at 5,975.1, after closing 24.6 points weaker yesterday at 5,990.2, with ex-dividend factors only knocking around 1.3 points off the blue chip index. The FTSE 250 index was 32.8 points higher at 10,141.5 as heavyweight housebuilders rallied.

Overnight on Wall Street, the DJIA closed 35.99 points lower at 12,576.44, while the S&P 500 index lost 7.00 points at 1,365.54, and the Nasdaq composite index 16.07 points at 2,348.76 after a batch of disappointing first-quarter corporate earnings, and as minutes from last month's FOMC meeting voiced concerns about the slumping economy.

Today in Asia, Japan's Nikkei 225 index ended down 138.54 points at 13,111.89, with investors taking profits on recent gains as the yen strengthened and other Asian stocks weakened. In Hong Kong, the Hang Seng index closed 327.12 points lower at 23,984.57

In London, HBOS was the top FTSE 100 faller early on, losing another 17-1/2 pence at 532 after falling back with the banking sector yesterday after depressing news on UK house prices and mortgage completions, with Credit Suisse's downgrade weighing on the stock today.

Credit Suisse said that it is downgrading HBOS as it continues to expect 10 percent house price falls in the UK in 2008 which could have a major impact on banks capital ratios.

Among other weak banking blue chips again today, RBS shares shed 8-1/2 pence at 365-3/4, with Barclays down 9 pence at 468-3/4, and Standard Chartered off 23 pence at 1,775.

Elsewhere among the blue chip fallers, news of a broker downgrade also impacted SABMiller, down 15 pence at 1,101.

Citigroup cut its rating for the brewer to 'hold' from 'buy' with its price target cut to 1,245 pence from 1,450 pence ahead of the firm's fourth-quarter volume performance on April 16 and full-year results on May 15. Citigroup said the move has been prompted by cost pressures revealed by SABMiller, with the broker slightly lowering its estimated volume growth because of macro-economic uncertainties.


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Ex-dividend factors, meanwhile, contributed to four of the blue chip fallers -- Pearson, Admiral Group, Hammerson, and Prudential.

Energy group BG Group managed to shrug off its ex-dividend shackles today, however, adding 14 pence at 1,210 as oil majors moved higher as crude prices held around the $109 a barrel level, marking time ahead of the U.S. government's weekly energy stockpiles report due later today.

Royal Dutch Shell added another 14 pence at 1,821, with BP up 2 pence at 539, while Tullow Oil gained 3 pence at 658-1/2, and Cairn Energy rallied 64 pence higher to 2,897.

Elsewhere with commodities, shares in Eurasian Natural Resources took on 18 pence at 1,113 as maiden full-year results from the recently promoted, Kazak-based miner beat market expectations.

ENRC posted a 52 percent jump in full-year EBITDA, before exceptional items to $1.91 billion, up from $1.26 billion in the year-earlier period boosted by strong demand for ferroalloys and iron ore.

Unilever shares were also in demand, taking on 10 pence at 1,735 after the Financial Times said the company has received at least two bids for its US detergents business that it put up for sale last August.

And BT Group shares continued to welcome yesterday's news of the appointment of a new CEO for the telecom incumbent, adding another 4-1/4 pence at 237-1/4.

But it was lone blue-chip housebuilder Persimmon which topped the FTSE 100 risers board, rallying 21 pence higher at 708, recouping yesterday's losses as sentiment for the sector ebbed and flowed ahead of tomorrow's UK interest rate decision.

UK housebuilders dropped sharply yesterday in reaction to the poor house price and mortgage completions data, but with at least a quarter point expected to UK interest rates on Thursday the sector revived today.

Broker upgrade on valuation grounds also helped for the second housebuilders.

Taylor Wimpey was the top mid cap riser, adding 7-1/2 pence at 177-1/2 after Goldman Sachs raised its rating 'neutral' from 'sell' with an increased price target of 163 pence, up from 130 pence following a period of share price underperformance.


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Barratt Developments shares were close behind, up 13-1/4 pence at 390-1/4 with Panmure Gordon upping its rating to 'hold' from 'sell'.

Also among the FTSE gainers, brewer and pubs operator Marston's took on 5-1/2 pence at 206 after Citigroup raised its stance to 'buy' from 'hold' in a sector review. And fellow pubs operator Mitchells & Butlers gained 8-3/4 pence at 337 after a 'resilient' trading update.

There were few features on the downside for mid caps, although ex-dividend factors weighed on IMI, Morgan Sindall, and F&C Asset Management.

On the macro front, investors have a batch of domestic data to digest today ahead of tomorrow's Bank of England interest rate decision.

First up, the Nationwide March consumer confidence report released overnight came in at the lowest level since the survey began in May 2004. Nationwide said its consumer confidence index ticked down another point to 77 in March, continuing the trend of monthly falls which started in the autumn and reflecting "weakening house price growth and ongoing uncertainty in the financial markets".

Later this morning, UK February manufacturing output figures are expected to slow to 0.1 percent, down from 0.4 percent in January, though base effects mean the annual rate is forecast to rise to 1.5 percent from 0.6 percent.

The wider measure of industrial output should rebound to show 0.2 percent growth from a 0.1 percent decline. And the March BRC shop price index will be released at 10:30 p.m. today.

Across the Atlantic, US wholesale inventories are expected to have increased 0.5 pct in February, three tenths of a point less than in the previous month.


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For a diary of key financial and corporate events in the UK this week, click here

US Summary:

For a summary of US stocks at yesterday's close of trade, click here


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Milan

MILAN - Market data at 9.40 a.m.:

Main indices:

Mibtel at 25,505 points, down 0.20 percent

S&P/Mib at 33,583 points, down 0.26 percent

Main S&P/Mib losers

Intesa Sanpaolo SpA down 1.41 percent at 4.74 euros as J.P. Morgan downgraded the stock to 'neutral' from 'overweight' and reduced the price target from 6.3 euros per share to 5.75 euros per share

STMicroelectronics NV down 1.36 percent at 7.10 euros

UniCredit SpA down 1.31 percent at 4.78 despite J.P. Morgan confirming its 'overweight stance on the stock with a 7.00 euros target

Mediolanum SpA down 1.21 percent at 4.16 euros as Dresdner Kleinwort downgraded the stock to 'sell' from 'hold and reduced its price target to 3.8 euros per share from 5.2 euros citing a tough 2008 outlook for sales, margins and earnings

Finmeccanica SpA down 1.06 percent at 21.41 euros

Main S&P/Mib gainers

Telecom Italia SpA up 3.09 percent at 1.501 euros

Fastweb SpA up 1.69 percent at 19.80 euros. In an interview with daily MF, chief executive Stefano Parisi said the first quarter went very well, with the group beginning to generate cash, and it is now able to reduce significantly its investments. He also said that if there is money to invest in Italy it is better to use it for development, while a de-listing of the group by its major shareholder Swisscom AG is not on the agenda

Parmalat SpA up 1.58 percent at 2.51 euros, continuing on yesterday's rise, as its shareholders are due to meet today and are expected to re-confirm Enrico Bondi as chief executive. Bondi is widely accredited for the turnaround of the food-and-dairy group after its collapse at the end of 2003

Lottomatica SpA up 1.15 percent at 21.10 euros

Seat Pagine Gialle SpA up 1.03 percent at 0.14 euros


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Brussels

BRUSSELS - Market data at 09.49

Main index

Bel 20 down 14.27 points or 0.37 percent at 3,843.13

Bel 20 gainers

Belgacom up 0.41 euro or 1.37 percent at 30.40, to hold AGM today to approve proposed 1.68 eur dividend and discuss share buyback, Petercam upgrades to 'buy' from 'hold'

Inbev gains 0.69 euro or 1.18 percent to 58.97, analysts cheer the group's upbeat comments on the outlook for 2008 at Monday's Dresdner Kleinwort Consumer Conference

Bel 20 fallers

Dexia drops 0.24 euro or 1.32 percent to 18.01

KBC 1.06 euro or 1.23 percent lower at 84.95

Fortis down 0.14 euro or 0.83 percent at 16.80

Agfa-Gevaert sheds 0.03 euro or 0.69 percent to 5.04, in the running for IT contract with Parisian hospitals

Ackermans & van Haaren down 0.26 euro or 0.39 percent at 66.24, Petercam expresses its confidence in the value creation process within the company, keeps a positive view towards the stock despite the outperformance recorded over the last months.

GBL edges 0.23 euro or 0.29 percent lower to 78.07, Bank Degroof reiterates its 'buy' rating on the stock after yesterday's AGM, expects the group to sell its 0.6 percent stake in Iberdrola in the next few months

Outside the Bel 20

Thrombogenics flat at 7.74, completes patient enrolment for Phase II Microplasmin in treatment of ischemic stroke - intravenous (MITI) IV study. KBC's Jan Dekerpel says "the potential of an effective product is huge and attracts the interest of the pharmaceutical world".

Innogenetics up 0.02 euro or 0.44 percent at 4.55, extends its research partnership with Solvay by another two years to the end of 2010, KBC reiterates 'reduce' rating and 3.10 euro target


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Amsterdam

AMSTERDAM - Market data at 10.10 am

Major indices

AEX 462.67 points, down 1.77 points, or 0.38 percent
AMX 640.19 points, down 1.73 points, or 0.27 percent
Government bonds mixed

Major decliners

TNT down 1.93 percent to 24.42 euros following a profit warning from rival UPS

Aegon down 2.54 percent to 10.15 euros

ING down 1.92 percent to 25.31 euros as KBW downgraded the stock to 'underperform' from 'market perform'

Philips down 0.81 percent to 24.57 euros following widely anticipated news it will exit its loss-making U.S. TV business

Aalberts down 0.29 percent to 13.62 euros. The company acquired a leading producer of multilayer tube and fittings for an undisclosed sum

Corio down 1.78 percent to 58.64 euros

Major gainers

Unilever up 0.42 percent to 21.47 euros on reports it has received at least two bids for its U.S. detergents business

KPN up 1.79 percent to 11.40 euros

Crucell up 1.75 percent to 11.63, extending yesterday's gains on news it signed a non-exclusive STAR research licence agreement with Celltrion Inc. for the production of recombinant proteins

CSM up 1.02 percent to 22.73 euros after SNS Securities upgraded the stock to 'accumulate' from 'hold'

Forex
London 0815 GMT Hong Kong 0600 GMT

U.S. dollar
yen 102.36 up from yen 102.30 yen
Swiss franc 1.0129 down from Swiss franc 1.0134

Euro
U.S. dollar 1.5708 up from U.S. dollar 1.5702
yen 160.78 up from yen 160.63
Swiss franc 1.5927 up from Swiss franc 1.5913
pound 0.7984 down from pound 0.7986

Pound
U.S dollar 1.9675 up from U.S. dollar 1.9657
yen 201.37 up from yen 201.09
Swiss franc 1.9933 up from Swiss franc 1.9920

Australian dollar
U.S. dollar 0.9274 down from U.S. dollar 0.9288
pound 0.4713 down from pound 0.4724
yen 94.90 down from yen 95.04

[SmokingUSA]

ADVFN III Morning Euro Markets Bulletin
Daily world financial news from Thomson Financial News Supplied by advfn.com
08 Apr 2008 09:52:04


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London

London shares down early on after lacklustre Wall St, UK house report

At 9:05 a.m., the FTSE 100 index was 51.5 points weaker at 5,963.3, having closed up 67.7 points on Monday at 6,014.8. The FTSE 250 index lost 131.7 points at 10,112.8.

Overnight, Wall Street started the week with a narrowly mixed performance. Stocks had initially popped higher on talk of a $5 billion private equity investment in Washington Mutual, but with the Federal Reserve issuing minutes from its March meeting on Tuesday and Alcoa due to report first-quarter results after the close, investors played its safe.

The Dow Jones Industrial Average closed just 3 points higher at 12,612.40, while the S&P 500 index took on 2.14 points to end at 1,372.54 and the Nasdaq Composite index closed down 6.15 points at 2,364.83.

Asian markets were also under pressure Tuesday morning, with the Nikkei 225 index closing down 199.06 points at 13,251.17 and the Hang Seng down 335.51 points at 24,243.25. World oil prices were slightly lower in Asian trading after comments by the OPEC cartel and an inflow of investor money helped prices surge to near-record levels overnight.

In morning trade, New York's main oil contract, light sweet crude for delivery in May, slipped 23 cents to $108.86 per barrel, having closed up $2.86 at $109.09 on Monday in New York, after touching an intraday high of $109.48.

In London, UK house prices registered their biggest monthly fall in over 15 years in March, the country's leading mortgage lender said. Halifax, which is part of the HBOS banking group, said house prices dropped 2.5 pct month-on-month, the biggest fall since September 1992 and much worse than the 0.4 percent fall analysts had expected, following February's fall of 0.3 percent.

Blue-chip housebuilder Persimmon dropped almost 4 percent, down 28 pence at 678, following the news. And mid-cap peers were also under the cosh, with Bellway sliding 38-1/2 pence at 802, Barratt Developments down 18-1/4 at 376-1/4 and Bovis Homes 24-1/2 pence weaker at 560.

Elsewhere, British Airways featured on the FTSE 100 casualty list, down 3-1/2 pence at 502, as the Heathrow Terminal 5 debacle continued and also hit by the high fuel price. The national carrier said it aims to run its full schedule of services from T5 Tuesday for the first time since the chaotic opening of the 4.3 billion pounds facility on March 27.

Financials were also out of favour amid ongoing concerns over the economic outlook, with HBOS losing 25-1/2 pence at 534-1/2, Royal Bank of Scotland 12 pence weaker at 364, Barclays down 17 pence at 469, and Lloyds TSB sliding 13-1/2 pence at 448.


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And another sector adding to index losses was the mining industry after Alcoa's numbers came in below market forecasts in after-hours U.S. deals, with first-quarter earnings dropping 54 percent year-on-year to 37 cents per share, as higher costs and a weaker U.S. dollar weighed down results.

Rio Tinto, in which Alcoa jointly owns a 12 percent stake with Aluminum Corporation of China, fell back 85 pence at 5,755, while fellow miner Antofagasta was 13 pence lower at 768, BHP Billiton dropped 25 pence at 1,660 and Vedanta Resources was down 42 pence at 2,245.

Among broker changes, shares in Tate & Lyle were hit by a downgrade to 'neutral' from 'outperform' at Credit Suisse on valuation grounds after the stock hit the broker's 520 pence price target.

Tate fell back 12 pence at 513. And a Goldman Sachs downgrade of Astrazeneca to 'neutral' from 'buy' saw Astra's shares slide 29 pence at 2,056. The broker cited a reduction in the risk-reward balance and said the recent share price move means the stock is now close to Goldman's 2,200 pence price target.

Turning to the few stocks that managed to stay above ground in early deals, BT Group was 1-1/2 pence better at 231-1/4 as industry observers said the appointment of Ian Livingstone as chief executive looks unlikely to disrupt business at the telecoms group. "The announcement should be well received," said one London-based trader.

"Ian Livingston, currently chief executive of BT Retail, was the leading internal candidate for the job. This should signal continuity in BT's strategy going forward." BT said Tuesday that Livingstone will replace Ben Verwaayen on May 31.

Elsewhere, AMEC was up 1-1/2 pence at 718-1/2 following recent weakness, with Evolution Securities saying in a research note that it thinks the stock's underperformance against the sector is overdone. The broker reiterated its 'add' advice and 900 pence price target, saying the stock is worth looking at again.

Among M&A news, British Energy Group continued to ride higher on the back of a weekend report that Centrica and France's EDF are in secret talks on a possible joint bid worth 10 billion pounds for nuclear energy company.

British Energy shares were 5 pence ahead at 718-1/2. Other outperformers included oil & gas plays following the overnight rise in oil prices, with Royal Dutch Shell up 1 pence at 1,796 pence while BP added 0-1/2 pence at 536.


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On the second line, Wellstream Holdings was the main mid-cap faller, down 102 pence at 1,215, after the manufacturer of oil and gas pipelines said private equity firm Candover Partners is selling its entire 13.8 percent stake in the company through a share placing, to take place on April 8.

On the upside, shares in 888 Holdings gained 1-1/4 pence at 148 after the online gaming firm reported full-year profits which were ahead of the consensus market forecast.

Pretax profit from continuing operations came in at $45.8 million, compared with $22.2 million the previous year. Market expectations had ranged between $40.8 and $47.4 million, with the consensus at $45 million.

In response, Numis reiterated its 'buy' recommendation and lifted its price target to 190 pence from 174. And as with the top line, utility group Drax was among the top gainers, 21-1/2 pence ahead at 580-1/2

Finally, Britvic took on 2-3/4 pence at 316-1/4 after Merrill Lynch reportedly initiated coverage of the drinks manufacturer with a 'buy' recommendation.

On the economic front, the spotlight is on the U.S. market where the main interest will be on the minutes from the March Federal Open Market Committee meeting and the latest home sales figures.

The FOMC minutes will provide some insight into the dynamic events that unfolded last month, which included the bail-out of U.S. investment bank Bear Stearns and a cut of three-quarters of a point in the Fed's key interest rate to 2.25 percent.

For the pending home sales figures, economists expect this to have improved slightly in February. They are predicting a level of 86.3 from 85.9 the previous month.

UK Diary of Events:
For a diary of key financial and corporate events in the UK today, Click here

US Summary:
For a summary of US stocks at yesterday's close of trade, Click here


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Paris

Milan shares TFN market data at 9.55 a.m.: Parmalat bucks falling trend

Main indices
Mibtel at 25,410 points, down 0.65 percent
S&P/Mib index at 33,408 points, down 0.62 percent

Main S&P/Mib losers
Fastweb SpA down 3.39 percent at 19.37 euros
STMicroelectronics NV down 3.10 percent at 7.12 euros
Banca Monte dei Paschi di Siena SpA down 2.92 percent at 2.83 euros
Prysmian SpA down 2.87 percent at 14.72 euros
Impregilo SpA down 2.07 percent at 3.4325 euros

Main S&P/Mib gainers
Parmalat SpA up 1.55 percent at 2.485 euros ahead of tomorrow's shareholders' meeting that is expect to renew the mandate of current chief executive Enrico Bondi

Snam Rete Gas SpA up 0.30 percent at 4.1425 euros
Banca Popolare di Milano Sclr up 0.20 percent at 8.03 euros

Other stocks in the news
Alitalia SpA suspended. Later today the board of the ailing airline is expected to meet. Monday Air France-KLM said it has not changed its proposal to take over the airline and that Alitalia's future depends on trade unions and employees

Lottomatica SpA down 1.49 percent at 21.10 euros. The gaming group said its U.S. unit GTECH is likely to win bid for the Kansas lottery ERG SpA down 2.22 percent at 14.00 euros as UBS downgraded the stock to 'sell' from 'neutral'


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Frankfurt

German shares TFN market data at 10.16 a.m.

DAX - down 61.16 points or 0.90 percent at 6,759.87
MDAX - down 118.88 points or 1.30 percent at 8,999.29
TecDAX - down 16.48 points or 1.98 percent at 817.23
DAX futures - down 48.00 points or 0.70 percent at 6,823.00

Major Underperformers:
Infineon, down 0.34 euros or 6.69 percent at 4.74, after Credit Suisse reduced its stance on the chip maker to 'neutral' from 'outperform' with a price target of 5.00 euros per share, Advanced Micro Devices lowered its full-year sales targets and Semiconductor equipment maker Novellus Systems Inc. said it expects its first-quarter profit to miss its forecast.

Deutsche Postbank, down 2.82 euros or 4.63 percent at 58.11, after Frank Appel, CEO of the bank's parent company Deutsche Post told Frankfurter Allgemeine Zeitung may wait until the end of the financial crisis before deciding whether to sell the banking unit.

Commerzbank, down 0.56 euros or 2.49 percent at 21.90, perhaps under slight pressure as the bank was one of those which signalled interest in Postbank. Deutsche Boerse, down 2.50 euros or 2.39 percent at 101.96. Lufthansa, down 0.36 euros or 2.03 percent at 17.39.

Major Outperformers:
Bayer, up 0.11 euros or 0.21 percent at 52.13, but outperforming the market after Credit Suisse initiated the stock with an 'outperform' stance and a target of 62 euros.

EON, up 0.15 euros or 0.19 percent at 81.10, as investors turned to the utility's defensive characteristics in a downward facing market, a day after Morgan Stanley raised its stance on the utility to "overweight" from "equalweight" and increased its price target to 167 euros per share from 148.

RWE, up 0.15 euro or 0.19 percent at 81.10, also helped by its defensive characteristics.


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Amsterdam

Amsterdam shares TFN market data at 10.04 am - lower, TomTom slumps

MAJOR INDICES
AEX 461.38 points, down 4.00 points, or 0.86 percent
AMX 640.07 points, down 6.58 points, or 1.02 percent
Government bonds higher

MAJOR DECLINERS
TomTom down 11.28 percent at 23.45 euros after it cut its full-year sales and EBIT margin forecasts Corporate Express down 0.94 percent at 7.41 euros as its first quarter trading update disappointed

ASML down 5.73 percent at 15.80 euros as semiconductor equipment maker Novellus said it expects its first-quarter profit to miss its forecast, while midcap peer ASMI fell 2.13 percent at 12.84 euros

AMG down 3.15 percent at 52.00 euros

MAJOR GAINERS
Unilever up 0.42 percent at 21.36 euros; Cap Gemini agrees to acquire and manage Unilever's financial shared services centres in Sao Paulo, Brazil, and Santiago, Chile

Akzo Nobel up 0.07 percent at 54.30 euros
VastNed Retail up 0.51 percent at 65.10 euros

Forex

Forex - Pound drops as Halifax reports biggest house price fall in over 15 yrs

LONDON - The pound fell as UK mortgage lender Halifax reported the biggest monthly drop in house prices in over 15 years during March.

HBOS PLC unit said house prices fell by a massive 2.5 percent, the worst reading since September 1992 and way below analysts' forecasts for a much smaller 0.4 percent fall.

On a quarterly basis meanwhile, house prices also fell, by 1.0 percent, the biggest quarterly decline since the second quarter of 1995. This took annual house price inflation -- measured on a quarterly basis -- to just 1.1 pct, down from February's 4.2 percent and the smallest increase since March 1996.

At 8:16 a.m. BST, the pound was trading at 1.9785 against the U.S. dollar, down from around 1.9831 just before the figures were released, while the euro rose to 0.7955 pounds from 0.7935 pounds previously.

[SmokingUSA]

UHCR Ulysses Holding Corp. Completes Acquisition of SecureNetView in Stock Swap Deal
Tuesday April 8, 1:49 am ET

FT. MOHAVE, AZ--(MARKET WIRE)--Apr 8, 2008 -- Ulysses Holding Corp. (Other OTC:UHCR.PK - News) completes acquisition of SecureNetView, an online surveillance and monitoring services provider with national and international clientele.

Ulysses has swapped 67,634,400 restricted shares (for one year) for 13,526,880 (100% of all outstanding shares) of SecureNetView.

ADVERTISEMENT
SecureNetView is valued at $10 Million, and will become a wholly owned subsidiary of Ulysses Holding Corp. The two companies will have estimated combined revenue of $5.5 Million per year immediately.

Dr. Bob Beverly will continue as the President of SecureNetView and report to the Board of Directors of Ulysses Holding Corp. and President & CEO Mr. Clayton Young.

"There is enormous potential for growth of Ulysses Holding Corp. in leveraging SecureNetView's state-of-the-art technology and management's knowledge in the online surveillance and monitoring sector on a global basis," said Clayton Young, President of Ulysses Holding Corp.

Mr. Young also stated, "Our first aggressive move will be to create a global sales force and also instituting an aggressive marketing campaign to significantly increase revenues per Dr. Bob Beverly's very accurate and realistic growth projections."

"The acquisition is continuing evidence of SecureNetView's commitment to the growth of its company and we could not be happier with Ulysses Holding Corp. as the acquirer; we have in place an aggressive growth plan that will be initiated immediately, increasing revenue to approximately $650,000.00 per month or more," said Dr. Bob Beverley, President of SecureNetView.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.


Contact:

Contact:
Ulysses Holding Corp.
Investor Relations
Tel: [phone]
Website: http://www.ulyssesholding.com


Source: Ulysses Holding Corp.