U.s. markets down on China rate shock, BoA mortgage fears

Bank of America have slipped 4 4pc after a CNBC report seeking to a consortium of eight investment firms, including PIMCO, BlackRock and the Federal Reserve Bank of New York, for to buy packaged loans in $47bn bonds.

"Wall Street is measure in real time of the crisis in mortgages, lenders loan loss" Chad Morganlander, an official money at Stifel, Nicolaus, says Bloomberg. " This additional overhang housing debacle goes to maintain financial stocks at Bay for a long period of time.»

BoA, largest in the country by assets, Bank also posted a quarterly loss United $ 7 due to changes in legislation in debit card transaction fees.

• FTSE 100 report

Blue-chip Dow Jones Industrial Average has dropped from 165.07 points, or 1. 48pc close 10,978.62 points on Tuesday, while the broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

"U.s. stocks remain solidly lower technology sector provides the lion's share of the burden on equity markets", analysts of Charles Schwab told AFP.

"Interest rate first hike in China since 2007 is also the cause of a sense of discomfort and materials are some pressure, exacerbated by a strong advance in the U.S. dollar, which is weighing on denominated products."

Losses followed the decision of the Central Bank China to increase interest rates for the first time in nearly three years in efforts to curb inflation and real estate boom.

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

Increasing verging on the global currency market and comes in advance of key data this week expected to show growth in the second world economy continued to slow in the third trimestre.Dans NY end trade, the pound sterling was extracted $1.5704 down from $1.5878 Monday.

Advance the dollar hit market commodities such as gold tumbled $31 $1,338 per ounce, wiping out the week gains dernière.Les oil prices fell too with Brent Crude for December delivery 4 10pc sliding to $81.10.

Shortly after the markets closed, Yahoo! said that net income has more than doubled in the third quarter of $396.1 m and revenues have increased 2pc to.$ 6bn.

The search engine giant said it expected revenue making $ 1 to. 53bn $1 in the current quarter.

The bond market has slightly augmenté.Le performance on the obligations of the US Treasury slipped 2 48pc 2 49pc Monday, while on the binding of 30 years of 10 years decreased from 3 3 93pc 90pc.

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Mounted world as China stock market slide raises rates Asia following United States, less Europe

Nikkei average of Japan more 2pc slipped and briefly touched a low interday a month on Wednesday as investors rushed to take profits. Photo: Reuters

Japan focused on exports was the hardest hit by the Nikkei index in Tokyo tumbling 1. 7pc tp 9371 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 6pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"China's announcement was a great surprise to the market.Attenuated sense throughout Asia as investors worried that an increase in interest rates could pressure on economic growth in China, "says Masatoshi Sato, market analyst, Mizuho investors securities in Tokyo."

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

In Europe, FTSE 100 has fallen from London, 0 6pc, DAX 0 the Germany 4pc France ACC 0 7pc.

FTSE 100 Great Britain has been opened 10 - 19 points lower on Wednesday, mirroring the weakness of global investors concerned about interest rates Chinese and cooled US mortgage bonds also viewed UK policy.

The minutes of the Bank of England is published at 9.30 a.m. and Chancellor announced review of expenditures at 1230.

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European awards for the second day, unstable by the rise of China rates slide

FTSE 100 in London slipped 0 3pc 5688 investors anticipated Bank of England minutes which are expected to show a split of three tracks between rates of setters, using figures and review the global coalition of public expenditure.

DAX edged 0 lower 2pc and ACC Germany dropped France, 0 2pc.

Mirror falls on Asian markets, due to a strong decline in u.s. stocks during the night.

Export-oriented Japan was hardest hit with the Nikkei index Tokyo drying tumble 1. 65pc tp 9381 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 7pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"Announces China was a great surprise for the marché.Sentiment mitigated throughout Asia as investors worried that an increase in interest rates could pressure on the growth of China,"says Masatoshi Sato, Mizuho investors securities Tokyo market analyst.""

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

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Spending Review 2010: George Osborne leaves markets unmoved

However, he said that markets might be watching to see if offer Chancellor 490 000 jobs in public sector cut over the next four years to a reduction in public spending to strengthen British finance £ 83bn.

Later in the afternoon, the pound sterling strengthened against the dollar to $1.5797-although this was attributed more to sell the dollar as the expenditure review or the minutes of the MPC - and FTSE 100 index of leading shares dipped 7.6 points 5695 London.

BAE Systems, defence company was one of the few companies directly influenced by the austerity measures.Shares fell 3 8pc in plans to abandon the spy plans for £ 3 6bn Nimrod project.

The greatest winners have railway operators and bus which can gather rates in detail more than 3 percentage points for four years - in detail more than 1 point pourcentage.Diligence has jumped 9pc approved has increased by 8 8pc.

Economists remain separation between those who say the drastic action is necessary and of those who claim that it will switch to UK recession.

Although almost all agreed that growth will slow and the Bank of England (BoE) will maintain the super-loose monetary policy in the foreseeable future.

Chief executives said they have understood the need for economies to tackle huge deficit United Kingdom the swingeing but strongly recommended further measures to ensure the croissance.Syndicats described sections as a "brutal assault" on public services.

David Frost, Director General of the British Columbia Colombia Chambers of commerce, said: "now that the review is complete, our message to the Government is that it is now time for a clear strategy for growth - which in turn will give enterprises and especially small and medium-sized enterprises, the confidence to invest."

He said companies and Government must work together to provide a real year of growth in 2011. " "This is the only way the private sector will be able to take over," he said.

It was taken over by John Walker, President of the Federation of small entreprises.Il said: "the community small business still has a vital role to play in the conduct of a credible recovery and take on new staff members to help combat unemployment, it is now essential Government implements a program of small business growth in action immediately."

He said small businesses were tipped and lacking in confidence on the 500,000 people who will be dismissed as a result of these reductions.

"It is up to the Government to encourage small business - community that extends from the feast of the existing businesses national insurance contribution and cutting VAT to 5MC in construction - industry to promote growth and help small businesses take new staff.

However, the decentralizaton measurne brunt would load poorest said unions.

"After review, the broadest shoulders wallets fattest will still has said Paul Kenny, secretary general of GMB.

"George Osborne accounts price is paid by the economy, in public and the private sector and the unemployed, for ten years to come"

Bob Crow, Secretary General of maritime union railway and transport, said: "these reductions represent the most brutal assault on public services, employment and living since the 1930s...".It is all-out war class with its roots firmly planted in the areas of equal opportunity of Eton.»

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Market report: FTSE 100 shares rebound after Ministers speeches

Traders has also noted that Smith & Nephew is once more the focus of speculation, support after that UBS, said the company in its "watch list", arguing that Johnson & Johnson and or private owned equity Biomet may be interested in acquiring the giant of the doctor. Actions then to 17½ to 568 p.

Overall, the FTSE 100 climbed points 25.04 to 5728.93 and FTSE 250 edged 5.65 10831.86 points.

Bus and rail companies peppered Board midrange leader in the global review of the dépenses.concessionnaires chased the highest shares after the Chancellor said rail and bus groups will be able to raise prices by 3pc more than inflation, which is much better than expected. Diligence closed to 17.6 205.1 p, approved updated 88% to £ 12.27 and FirstGroup increased 24.2 401½p.

Among the blue chips, autonomy increased 61% to £ 15.05 to some comments positive broker. Panmure Gordon, for example, updated the stock from "buy" to "hold".The broker analysts argued that the shares are worth purchase because promoting is one-piece gearmotors on broader economic recovery, it is potentially a new acquisition in the corner and two product launches new "imminent" expand the addressable market for the autonomy.

Meanwhile, Goldman Sachs, reiterated its "buy" rating on autonomy. "Key short-term catalyst is the announcement of a takeover, said Mohammed Moawalla, an analyst at Goldman Sachs.Il said: "autonomy has a solid track record as the arrival of trafficking and we would expect a similar to the previous one transaction acceleration Road book market".

Extraction of stocks was the leader board after having endured some heavy sales over the last two days.Xstrata has rebounded 42½p £ 12.91 while Rio Tinto added 108 p to £ 40.56.

Vodafone advanced 2.1 p 168,3 that Goldman Sachs from 2011 to 2013 per-share earnings forecast by 3pc and 4pc to weakness of sterling account.

Barclays donning 2¼ to 291.1 p. Wednesday, Keefe, Bruyette & Woods sellers told customers only after a meeting with the company, they left with a more positive view on the stock.

Nomura has reiterated its "buy" rating on GKN and raised its price target to 205 p.Les shares climbed 3.3 175¾p.

International Power gained 7.2% 411.6 after that Royal Bank of Scotland raised his price target to 390 p 450 p.

Cobham improved 3.9 242.8 p as dealers noted that Goldman Sachs has put the company on its list of "conviction buy", arguing that it could carry out acquisitions or be swallowed by a rival.

On a less positive tack, BG Group was under pressure in the middle of the conversation that it met serious problems for Australia coal-bed methane projects.

Macquarie Group reported by Bloomberg reportedly said that the Australian Government can delay approval for coal bed methane projects proposed in Queensland after origin energy found traces of chemicals banned in exploration wells.BG Group has fallen from 10 p to £ 11.76.

Several stocks declined after negotiation ex-dividende.Smiths Group lost 31% to £ 12.19 and BAE Systems Hangar 14 349,9 percent as they exchanged without the right of their dividends.

Dealers chewed on the implications of Tuesday, defence spending review of BAE Systems.Running noble said: "SDR UK contains some negative (by BAE Systems) such as the Harrier departures for retirement and cancellation of Nimrod."

Babcock International rallied 9½ in 573½p.Panmure Gordon analysts said: "" we believe that our thesis long-term Babcock remains intact, not bad that fears initially dépenses.Avec cuts significant downsizing confirmed among officials of the Department of Defense, we believe that this will lead to high levels of outsourcing Babcock should emerge as a key beneficiary.""

Ashtead towards more than 5.4% 121.4 continued solid results for the third quarter of United Rentals.Alex Hugh, UBS, said analyst as the figures show "rental penetration accelerating rental suggesting firms can grow even when the non-residential construction is not.

However, Kesa fell 3.7 percent 155.8 after UBS downgraded to "neutral" stock from "buy".the actions have been reinforced by recent bid speculation with UBS, pointing out that the stock has rallied 20pc month dernier.Best Buy and private equity companies were a tip as contenders possibles.Toutefois, Adam Cochrane, the UBS analyst said: "a take of" was unlikely.

Hansen Transmissions plunged 7.3 43 percent after the manufacturer of products used in wind generators and said revenues for the year cooling towers fall on 10pc.La society expected revenues grow between 5MC and 10pc.

Stobart group is 13½-143 p after it has reduced its income throughout the year forecast due to the reduction of expenditure by Network Rail and financing costs increased.

Jardine Lloyd Thompson then 16 597% in the middle of rumours, it can be taken target for Marsh & McLennan.Potins bid made for months, with Aon cited as another potential bidder tours.

However, it does not clear if the Jardine Matheson Holdings is a vendor disposé.Le Hong Kong-based conglomerate owns 30pc Jardine Lloyd Thompson, so any agreement would require its traders approbation.Certains believe that Jardine Matheson wants to sell.

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Dollar plummets on report that EDF 500bn provides $ more in the economy of the pump

The dollar fell throughout Wednesday in the middle of the signs, that the Federal Reserve will pump $500billion in the economy over the next six months. Photo: Getty Images

Beige Book survey the Fed on business regional Wednesday said the u.s. economy expanded at a "modest pace" with little sign of acceleration last month, fueling speculation that the Governors of central banks may take additional measures to support growth.

Jack Ablin, placement head to Chicago-based Harris Private Bank told Bloomberg: "the beige book reiterates call for relief quantitative.La economic growth, is simply not accelerating."It remains to be seen what finally Fed purchase obligations will be.»

A report undertaken consultation Medley Global Advisors suggested that the Fed could start with the stimulus as early as next month, costs $ per month on the binding of achats.On knows that the u.s. Federal Reserve has a commitment to do more in the next 18 months.

The dollar plummeted to its lowest level against the euro since July and a minimum of 15 years against the yen.The euro has increased by 1. 06pc to $1.395 and the dollar ended at 81.05 yen.

Camilla Sutton, Scotia capital, currency strategist says Reuters: "we believe that the dollar ends lower year, but for the moment, we will no doubt be a period of negotiation over until we have a firmer idea where makers have in their heads."

In the meantime stocks and commodity recovered after the average China surprise mardi.La interest rates increase industrial Dow Jones rose 129.35 points, or 1. 18pc 11, standard 107.97.Le and Poor 500 index has been 11.78 points, or 1. 05pc 1,178.17, with more than 20 companies scheduled to report third quarter earnings today.Nasdaq Composite index rose points 20.44, or 0 84pc, 2,457.39.

Large companies, driving change market included Boeing Company, whose shares have increased 3 35pc after displaying a quarterly profit that beat expectations Wall Street.Delta Air lines and Airways Group have also reported strong profits.

Portal Yahoo! trooping 2pc after the announcement late Tuesday, the net income for the third quarter has more than doubled $396.1 m, or 29 cents per share.

Wells Fargo, the biggest U.S. home lender climbed 4 28pc after saying it was "eager" returning cash to shareholders after a record quarterly profit.

Lawrence Creatura, a Federated Investors Inc., New York-based Fund Manager said Bloomberg: "we have a variety of reports that indicate that the sky is not tomber.Hier company gains was a dark day for the market because of macro factors today it will be business tower management teams lead once more how."

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Expenditure Review 2010: Markets unruffled by deep reductions in decades

Sterling was trade until 0 5pc against the dollar and the same amount to the euro in the wake of speech by George Osborne, leaving the relatively unchanged book net position.

"The allocation of reductions is remarkably unsavage," said Glenn Uniacke, a distributor of Moneycorp."None of the cuts will result in a particularly nasty effect on growth for the future .the book looks a little more attractive bet."

Negative reporting key has been public job losses about 490,000 said but it has been tempered by claims that it can be conditioned by natural wear and a period of four ans.Sterling edged in a short time after £ 6bn departmental administration cost cuts were revealed and low when Mr. Osborne has announced the temporary levy on bank balance sheets must be permanent.

However, Mr. Uniacke believes that most people would be based on a broad vision, instead of simple pieces of policy positions.

Fix FTSE 100 index ranged between gains and losses amounting to 1.04, or less than 0 1pc 5,704.93 in mid-afternoon.

Transport companies rallied after grants to bus drivers were not affected as bad as feared.

Gilt 10 year performance was little changed at 3pc commercially later, after having dropped earlier 2.95pc.Sentiment on gilts was not so much driven by that speculation the Bank of England may accelerate its bond purchase programme expenditure review, it has been argued.

Get free advice when sending money abroad with transfers of funds International Telegraph

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FTSE 100 rises to a maximum of six months on the strong overall compensation

Analysts Panmure Gordon retained their "buy" rating on Unilever - the company behind the parsley and Dove.

Broker said think structurally, Unilever "is in its best State ever, with an almost refocused portfolio which should start to benefit from significant acquisitions filling its organizational change is largely complete, with a great best management team), and has a very strong balance sheet and a geographical skew is the envy of his peers."

The broker has also maintained its "buy" rating on Reckitt, saying: the owner of Cillit Bang was on track to deliver its orientation throughout the year.

Diageo has also received a boost to its European peers, higher p 27 to £ 11.87 in the wake of strong gains from Pernod-Ricard. The French maker of Absolut Vodka is undertaken for second-more great minds in the world behind Diageo.He announced the sale of the first quarter increased by 10pc due to a scheduled pick-up the United States and strong growth in emerging markets.

But also generate interest was a return to the rumor that Diageo could bid for game has French luxury goods pas.Groupe Moet Hennessy 66pc LVMH has 66pc, said that she had already refused any talk of a plan to sell champagne - maker .enfin, speculation arose in April 2009 after a possible agreement would make strategic reporting purposes. Diageo has refused to comment.

Plugs, traders were also slurping shares in Britvic, which increased by 26.8% 497.3 after the manufacturer said drinks recipes for 52 weeks has increased by 14 6pc on higher volumes, which prompted Altium titles at up to "buy" to "hold" rating.

"Britvic and, in fact, the British soft drinks market proved be resilient to the recession," said the broker.

But return among blue-chip international earnings rather than domestic were mostly having an impact. The high figures contributed to lift FTSE 100 points from 28.93 5757.86 and a maximum of six months, although this is still 67.15 points high for the year of 5825.01, struck on 15 April.

International earnings side, BT took the yellow Jersey, win 6.1 156.3%, after a court backed pension Trustees of the telecommunications company in conflict with the Government on the State guarantee to cover commitments if it goes bankrupt.

Mining shares were also in demand thanks to solid metals prices with Anglo American building £ 29.43½ 72½p.

Intercontinental Hotels then up to 43 per cent to £ 12.15 as French Hotel Group Accor, raised its target profit and posted sales of third quarter slightly ahead of forecasts.This has contributed to seal positive sentiment following results from Whitbread earlier this week, which provided more evidence of a recovery in the hotel industry .the ' company behind Premier hostels and Costa Coffee gained 2 p to £ 17.31.

But the prospects were not so sunny for Tui Travel, languished at the bottom of losing Council excretion 25.4 205 percent after repeated its results 2009 and Panmure Gordon slashed finances.Analystes Director resigned their rating on big business travel Europe "hold" to "sell" taking into account the strong share price recent performance.

Join TUI among the laggards was Tullow Oil, which took a fall after a Ghana well off the coast could not find oil .the ' Explorer fell 26 percent to £ 12.27, saying encountered Onyina-1 exploration well water bearing reservoirs, which prompted the Oriel securities downgrade Tullow to "reduce" from "hold".Broker said that the result was a blow to sentiment and rating is now stretched.

But the evolution of retained their recommendation "buy", despite what they call a "disappointing result" securities analysts. ""The Campanian has tended to be less successful than the deepest Turonian where Jubilee, Owo and Twenenboa fields were discovered," said the broker.

Some retailers made an unexpected drop in sales at retail for the second month in a row in September.Brands & Spencer has increased 8.9% 418.3 after worn Bernstein analysts their price target to 460 p 410 p and maintains their "outperform"rating.""

Analysts said that the string "came, supported by cyclical rebound late"better"and senior pass.

"In the end, M & S favourable market trend seems to be related to continue and should translate into more progress like-for-like against comparative accessible," said the broker.

Plugs, Debenhams was out as well, win 5 76½p after announcing an increase in profit throughout the year and intend to restore its dividend next year.

Seymour Pierce analysts said that they believed that the company must provide earnings growth double digit growth with a more blot on acquisition opportunity.

FILLING Council head of doublures-deuxième, however, was Afren .the oil and gas company focused on Africa acquired 16½ percent 132.4 after his Nigerian unit bought a stake in an oil majors, including Royal Dutch Shell and total oil field.

"Analysts Arbuthnot, called the"transformation"agreement.""Long gestation"big deal Afren"finally arrived and it offers at all levels: reserves, exploration upside and growth of major production," said the broker, retaining their strong accession"recommendation on the stock.

Investors taking a punt on William Hill .the bookmaker has increased by 7.2% 168,9 after saying that expected throughout the year operating profit at the upper end of the forecast of analysts.

Their earnings came a day when the FTSE 250 established points 72.83 10904.69.

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FTSE 100 shares hit by taking profits on the anxieties of the g-20

Broker's lowered its rating on the producer of copper, who intends to purchase participation India of Cairn to "buy" to "neutral" control

"We see the potential for delays in the transaction proposed oil and recent rulings of the Court and the Government implement group metals growth plans in doubt," writes analysts. " We believe that investors are more concerned with strategy group and the ability of management to meet its promises.»

Society resource also lost 20 to 907 p and Lonmin slipped 30 p to £ 17.96.

However, Reckitt Benckiser was the largest manufacturer of visibility and the Cillit Bang abatteur.Le sank 164 p to £ 33.86 on the announcement that his Director of finance, Colin Day, must leave the company in March of the year next to explore other business interests.

The trend of bucking market was Tui Travel, despite of downgraded by Citigroup. Big business travel Europe has tumbled Thursday after restating its accounts and the resignation of the Director of finance, but he recovered 211½p 6½ Friday to lead the blue-chip winners.

A volume 164 pages of the European sector of hotel and leisure, Citi analysts cut TUI "bilge high risk", "buy/high risk", saying that 2010 has been "a disappointment for tour operators and we're more skeptical about long-term prospects".

"TUI Travel's still work to be done in several of its territories (France, Poland, etc.) which should help improve margins of 30 points basis for the next two years and we have as a niche group and expert operations (EBIT 30pc), but we see hardware opportunities for significant growth in the long term for the group without M & A", they added, with a price target of 275 p 220 p operator.

His counterpart grouped, Thomas Cook fared worse - fall 3.4 180½p - after Citi downgraded the "bilge high risk" group travel "buy/high risk". ""Low traffic 2010 cooled our enthusiasm for the"new"more rational dominant tour operator sector," the analyst added.

Join TUI in the ranking were retailers with Marks & Spencer to 7.9 percent 426.2 and front 39 percent to £ 23.13 more.

British Airways(BA) has been climbing even more élevé.ayant received earlier in the week strong gains posted by U.S. peers, the airline is an another boost Friday in the form of a Goldman Sachs on the British carrier optimistic note and the Spanish airline Iberia, which helped raise 2.7 percent 283.4 BA.

"BA and Iberia are fusion that we believe will produce synergies, but more interesting, in our opinion, are joint venture of BA, Iberia and American [Airlines] which should lead to a tightening of yields of premium on North Atlantic as transactions and discounts are renegotiated," said analysts.

BG Group, producer gas, ticked up to 9½ in £ 12.03 after he said that a well off the coast of Tanzania had met carrier gas sands.

Also stimulate BG is news that the Government of the Australia had given environmental approval for two coal gas projects a value of approximately $30bn (£ 19bn), led by BG and Santos.Mais green light came with 300 conditions of approval, especially dealing with protecting the water supply.

"The question remains whether these conditions are difficult or show-stoppers but would have thought you that a large number of which have pre-worked," said Morgan Stanley analyst.

Among the plugs, Micro Focus international led charge, 29-411½p's speculation that IBM could be Brig doping software company. ""We can see why Micro Focus can be an attractive asset," wrote execution of noble analysts. """ Software migration of micro focus offers an alternative to IBM for IBM mainframe can acquire from Micro Focus to defend its activity mainframe.""

Housebuilders had such step floating one day after Alastair Stewart, an analyst at Investec, all decommissioned its price target for the general public housebuilders account of what he sees as "the serious risk of a double dip the internal prices and values of the land" it added: "It has been invited by gathering evidence in recent weeks that the housing market has ground to a standstill, crystallized by Bellway negative comments on the market with its results throughout the year."

Taylor Wimpey shed 0.99 to 23.13% after cutting to "hold" to "buy" with a new price target of 25 p.et Barratt Developments dragged 3.3% 80.2 after it has been slashed to "buy" to "sell", with a new price target of 72 p.

The fall was the 250 global FTSE throw 10894.73 9.96 points.

Small caps, Vitec put on 34½ at 515 p after the provider of the camera and said lighting trade since its results for the first half were stronger than expected.

Goal Dods - parliamentarians magazine The House - tumbling 3.25 - or 32½pc editor - 6.75 percent as it suffered from reductions in government spending.

"Even though the majority of political affairs was carried out in the year and show good sales effects of cuts in public expenditure have been deeper than expected at the time of the interim report within our public service training activities" said the editor, warning that throughout the year results "materially fall earlier expectations [directors']". ""

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Singapore Fellowship and Australian merge to create award-fifth of the world

Joint statement said the agreement would create a platform extended for global opportunities in the Asia-Pacific region, the recovery of the world driver clients its worst recession since the 1930s.

Cash and shares offer should be completed in the second quarter of 2011 subject to regulatory approval, the values of the ASX A $48 per share, or a $ 8, a premium of nearly 40pc last price traded.

Magnus Bocker, Executive Director SGX to become Chief Executive of the combined group, said that "by 2020, in less than 10 years from now, more than half of global GDP be in Asia-Pacific region."

"This is an opportunity we can't let go," he said at a press conference.

In terms of total number of inscriptions, ASX - SGX will exceed Tokyo to become the largest second list in the Asia-Pacific region after Bombay, offering more than 2,700 undertakings with more than 20 countries, including 200 of greater China, said the joint statement.

Merged exchanges will provide also access to the institutional investor base outside United States with active combined under valued at 2.3 trillions of dollars, including money from sovereign wealth funds management.

"There is no doubt it's a combination of point of repère.Nous try acting ahead of the curve to be proactive in a rapidly changing world" said Mr. Bocker.

The Wall Street Journal said the merger could create an approximately 1.9 billion market.

"At the end of the day, this combination is not only on the synergies of coût.Il is really on strategically makes us an Exchange much stronger together and positioning we grow in Asia, said the Wai Kwong, Director financial SGX Seck.".

The agreement seems likely to address certain regulatory issues in Australia as Singapore Government is a major shareholder in SGX, but stock exchange officials expected to major obstacles.

"I think that we would have announced it if we do not believe that approval would be forthcoming,", said Robert Elstone, Managing Director and CEO of ASX.

Australian competition and Consumer Commission (ACCC), Graeme Samuel said "I think it's an issue between the Exchange and Singapore Australia Exchange and I do not see that raise competition issues for us," President according to the public broadcaster ABC.

The announcement comes as the ASX is on the verge of losing its monopoly long Australia after the Government gave the go-ahead for rival to implement part exchanges.

SGX President-elect Chew Choon Seng is likely to become the non-Executive Chairman of the entity merged while ASX President David Gonski should become Deputy Chairman.

The combined group will have 1,100 employees and an international jury with 15 directors of five countries.

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FTSE 100 edges closer to the level of 5800

The broker also raised his price target on Anglo American £ 43.20 £ 41. 45 M. Mallin-Jones said "provide the best combination of evaluation, unappreciated and exhibition volume growth limited products."

Antofagasta then up to 52% to £ 13.21 and Anglo American acquired 66% to £ 29.82.

Elsewhere in the sector, Xstrata climbed 34½p to £ 13.24 after that she hosted a visit Pérou.Heath Jansen, an analyst at Citigroup, copper operations analysts said: "this extremely informative briefing should greatly increase Xtrata credibility to deliver on its strategy and cost growth, who were the main concerns for investors management."

Overall, the FTSE 100 past 10.73 points to 5751.98, while the FTSE 250 points 83.41 10978.14 after 20 heads of finance group is committed to avoid "" devaluation competitive", attenuated fears of a global trade war."

Once more, bid speculation lifted Burberry, up 32% to £ 10.26.Commerçants felt that it might be the business of luxury goods next be taken target following acquisition of a significant shareholding in Hermes LVHM.RPP, another French conglomerate, has been linked with l ' Oréal in private capital passé.Groupes also touted by dealers as potential predators.

WPP makes it for classification, climbing 744½p 11, after that JP Morgan raised his price target to 860 p 775 p.

Carnival of point p 35 £ 25,54 following upgraded to "overweight" of Barclays Capital, citing benefits from price ticket move to Europe in 2011.Carnival which increases its visibility in Europe and declining in the Caribbean, will benefit from rising ticket prices and reservation curves generated by European products, said the broker.

Barclays Capital has also stated that price environment and demand if is improved in the fourth trimestre.Analystes broker said: "promotional environment which has increased over the past six weeks has not only generated sales, but sales at prices higher as Cruisers were exchanged.

On a less positive tack, Lloyd's Banking Group slipping 3.8-68 p after Credit Switzerland cut its price target to 79 p 87 p.Jonathan Pierce, an analyst at the broker said return capital short-term prospects are limited, falling property prices could have an impact and recipes for the consensus forecast 2011-2012 are too high 5MC.

Negative feelings on other banking stocks.Bank Standard Chartered is 32½p to £ 18.06 and Royal Bank of Scotland was drifting lower 45.4 percent ¾.

Pearson was struck by some making profits from his statement management provisoires.Les shares dipped 947½p 28½.

Invensys fell 8.8 percent 311,6 after a downgrade of UBS "neutral" from "buy"."We believe that the sector can have exceeded the fair value," said analyst at UBS.

Scottish & Southern Energy decreased by 11% to £ 11.17 after Citigroup cut its price target to £ 12.54 from £ 13.20.

Centrica also dragged 1.3 percent 324.2 despite a surge of Morgan Stanley, said the company should do so the new potential gouvernement.Le investment energy policy initiatives in new nuclear power and a partnership with EDF could be important, says Bobby Chada, an analyst at Morgan Stanley.He added that an aid to encourage renewable new construction would be positive.More areas that could impact Centrica are the obligations imposed on service providers to meet Green.M agreement and energy efficiency measures.Chada said: "we believe both are positive Centrica Energy efficiency and energy services, which are ahead of its peers".

One liners second, United Business Media enhanced 19-676½p Nomura raised his price target by 8pc 665% to account for the acquisition of 185 million from £ Canon Communications.

Vague bid rumours also helped Computacenter win 8 to 369 p.

Ocado online retailer had another strong day, escalation of 145.2 p 8.

However, Brit Insurance slipped 3 p to £ 10.21.Au moment where the London market shut down a formal offer of capital companies Apollo and CVC capital did not émerger.Commerçants expected offer redemption by Monday afternoon.

Popular Lloyd London insurer Group Catlin shed 1.1 for 341½p despite the fact that Collins Stewart of the company as a target in charge.Le trade shares an unjustified peer discount notes Ben Cohen, courtier.Il analyst concluded that: "If the evaluation gap persists, we believe Catlin would be interesting to private capital or a trade buyer probably outside the London market."

Small cap, Xcite Energy stir-fry 174½p 32½ after what he said that it has successfully completed the vertical field of Bentley in the North Sea britannique.Le pilot pilot hole revealed that column 40 oil thicker than expected feet 113.Valeurs feet Arbuthnot securities said the results save management expectations that there is significant potential in the reservoir is rising.

Dealers have hunted London Stock Exchange (LSE) 35 workplan of 740 p suite Announces weekend Singapore scholarship has agreed to buy the ASX Australia first major movement of trade in the Asia-Pacific consolidation.

Recently traders speculate German Stock Exchange, the London Stock Exchange has been approaches in effect passé.En Deutsche Börse could make a tilt renewed Londres.Qatar scholarship and Dubai also remain large shareholders of the London Stock Exchange.

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Cotton climb again record cold China

Fiber Monday struck $1.2471 book, increasing from 4 2pc, or 5 cents, which is the maximum allowed by the CEI scholarship in New York.

Chinese weather forecasts say that snap cold current will last at least another day.

Prices increased 9pc last week, adding to the high hit record 140 years on October 15, hail storms hit southern américain.Texas is the largest producer of cotton in America, which is the largest exporter in the world.

There are mixed views as to whether if the current high prices will remain.

"Players on the market of cotton are providing prices in the long term," said analysts of Commerzbank.Large State buyer India India, cotton company expects a correction in the coming months as well US and Indian crops have boosted .Cependant supply, prices should be capable of supporting the $1 a brand of books for the next three years to the back of robust demand growth and consumption of low storage report. »

The Department of agriculture estimates that the stock will drop by 4 3pc in the first six months of the year prochaine.fournitures were not so tight since 1995 and the prices are already 58pc place in New York this year.

Rabobank analysts believe there are six main reasons why the price of cotton is also high: tightening the Americans, the basics, the battle of arable land, a deterioration in Chinese culture, the weakness of the dollar, the Indian export ban and floods in Pakistan.

"Basic tightening global market has been extremely favourable price, but too has the weakness of the dollar and strengthening speculative interest," they said. "" """Unlike the event price in March 2008, Rabobank believes that this rally is more sustainable".

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10 shares dividend

In the middle of broader economic pessimism, fund managers say that this information shows that many British companies are in rude health. Clive Beagles, J O Hambro equity income Manager, said: "Us remain optimistic that this trend will continue."

Start-ups or recover payments of dividends to shareholders are three to those that cut or cancelled their dividends.

But not all income equity managers are also optimistic. Bill Mott, income veteran who now leads income Psigma Manager "quite prudent" rest on the Outlook for UK companies.

"I think we are pretty anemic growth years."Corporations best placed to dividends shall be stable and predictable companies who do not have to spend lots of money, maintain or increasing their position on the market, "he says it said that these tend to be companies that are already in the arena of dividend such as pharmaceuticals, telecoms, tobacco companies, and utility."

But the two fund managers agree that investors smart there were significant dividends for these pillars établis.Voici a growth opportunities list different dividend fund managers at business growth over the next few years.

Of course, those who do not venture to invest in individual stocks should consider income fund equity invests in a broad basket of companies that have the potential to pay a good dividend stream.

Mr. beagles said that this high street retailer has certainly had its problems.It has ceased to pay dividends two years ago, but since then has succeeded in reducing the debt that it carries out by about two-thirds.

On the back of the most optimistic addresses statements that he expressed optimism that payments should resume next year."If it paid only a third of its earnings, it would mean a 9 to 10 p.Sur share the current price which represent a yield of about 4 5pc dividend,", he said.""

This is another smaller company than Mr. Beagles said dividend growth potential.Company, purchased Princess P & O at the beginning of the previous decade, control on the market of the croisière.Il 60pc has developed in the last decade, but even two years ago it cut its dividend juste retour customer demand fell in the wake of the financial crisis.It is now paying a small dividend but it is only a quarter of what it had paid until payment has been reduced.

Mr. beagles said: "the company has spent less on new ships, and demand is increasing once again, so its cash position improved.""We would expect to see this definition to a growing stream of dividend again."

Investors should keep in mind that that this company has a double list in Britain and America, the dividends are paid in cents.

Most analysts expect the oil giant to restore its dividends in 2011. The question is, what niveau.Tineke Frikkee, Newton Investment Fund Manager said: "" optimists could hope that payments will resume at its previous level, on US 14 c per quarter, while the more pessimistic than commentators believe shareholders will be lucky to get half that. ""

Ms. Frikkee she sat "somewhere between the two" and expects a dividend payment of c 9 and 10 (c) the year prochaine.Cependant, although it will show a big jump in dividends, yields no are not higher than other companies.

She added that the pound to dollar exchange rate fluctuations could affect returns for British investors.

Mr. Mott says those looking good and consistent growth dividends should consider these alimentation.Les yields retailers currently vary slightly below 3pc a little more 4pc."Each of these are good defensive businesses", he said.

"And are looking to expand in various ways, both United Kingdom, thanks to our population growth and abroad it said:"they are generative businesses in cash, with a good dividend growth potential but they remain a low-risk investment especially when economic conditions deteriorate"."

The company pay is also favoured by Mr. Mott for future dividend growth.He said: "they have a very good Chief Executive Charles Wilson, who transformed the company to have a massive debt virtually no debt at all the".

The company is involved in a start-up in India Company, but also its UK.Il base stable cash flow added: "this company has the potential to increase its revenues and its dividendes.Et pricing actions today that performance seems to be interesting."

Several life, like other financial corporations, insurers reduced their dividends at the beginning of the crisis of credit, but many are now increasing these payments once again at the rear of the good growth.

Legal & General, for example, half its dividends at the end of 2008, nearly 6 percent to 3 p.Son last dividend was up 30pc. "But even with this increase is still considerable scope for further rises reach their previous levels, said Mr. Beagles.Autres life insurers is also cutting of dividends: Aviva, for example, has recently increased its dividend 10pc-15pc.

Industrial services company (who is involved in security and maintenance of the platforms, among other things) has not paid a dividend of 10 ans.Cela was largely due to carrying large debts and having a significant historical asbestos liability.

But the company has succeeded in reducing its debt and made provision for outstanding claims payable asbestos. Beagle said: "we expect this company to begin to behave as it should have been in the last decade as a 400 m £ well run on a reasonable price for the ratio of compensation trades".

Analysts expect HSBC is the Bank that provides the greatest growth dividend 2011.Mme Frikkee said: "Investors must still remember that it is paid in dollars."

Improves the balance sheets of banks, review of policy and regulatory interfere with their ability to resume dividend yields observed that seeking long-term, Lloyd said Frikkee passé.Mme's Banking Group has reviewed chances to provide a stable and consistent dividend stream but is unlikely to begin to pay the shareholders in the following year.

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Blue-chips slide as minors strike benefits

Miners suffered profits taken once executed a strong with Anglo American, BHP Billiton and natural resources of the Corporation lose 19½ 906 p, 56 percent to £ 21.96½ and 52 percent to £ 29.30 respectively.

Insurers were also favour after Bank of America Merrill Lynch downgraded its ratings on four companies in the sector, primarily citing reasons for evaluation.The broker reduces legal & General position of "buy" to "neutral", in the wake of doing well in the latest mois.Juridique & general actions fell 1.3 101½p.

Standard Life and Old Mutual "neutral" from "buy", also cut analysts by reducing its price target to 160 p 155 p but leaving the target unchanged old price 250 p.Standard Life declined by 0.7 percent 226.3 and Old Mutual dropped 3.3 1 p. Aviva, cut to "underperform" from "neutral", lost 1.2 percent 399.6.

Negative sense extended to banks, where the concerns of the own funds requirements persisted.Lost Barclays 4 p 277.35 and Standard Chartered throw 16½ £ 17.89½.

On a positive note, exploiting that Carnival cruise plot an increase of 114% to £ 27.68 upwards the leader board as counterpart listed U.S., Royal Caribbean Cruises, raised its expected benefit.

Reckitt Benckiser is are strengthened to 18 per cent to £ 34.36 after winning the conditional end EU regulatory approval Monday to buy SSL, the manufacturer of the Durex condoms and sandals Scholl.Goldman Sachs raised its rating "buy" to "neutral", adding to their list of purchase "belief" Reckitt

"The acquisition of SSL channels double us our earnings by share forecast for Reckitt Benckiser for the next five years, growth of 5mC 10pc," said analystes.Le broker added that the acquisition has also increased exposure of Reckitt growth and margin and health care personal higher classes.

However, consumer peer Reckitt, Unilever, came under pressure, falling from 44% to £ 18.12 after a cautious note of Jefferies Cup parsley manufacturer to "hold" to "buy" ahead of a trading update third quarter on 4 November."With winds, declining economies and continuous price relatively low entry-level price we cut our assumptions of average EBITDA margin basis points 45 per year," said the broker, reduce its price target for Unilever £ 20.50 of £ 20.82.

Cairn Energy, ARM Holdings was vying for the dubious honour lead league table of the losers of the.The manufacturer of the chip has lost 23 366.2% after its third-quarter results were eclipsed by a warning from one of its customers who might be weakening of the demande.Pesant on cairn, lost 29½ 382½p take the wooden spoon is a new it put an end to the drilling of a well in Greenland.

Would include stocks of oil AIM, hangar Valiant Petroleum 140 p - or 18 7pc - 610 p after saying abandon his exploration of Northern Viola as well as the dry hole.But Oriel retained their "buy" rating securities analysts"North Viola was a target high-impact and actions benefited by executing the résultat.Ils prediction will obviously take on the announcement, but must be supported by the fundamental value of Don fields continue to be very cash generative, said broker."

Desire petroleum lost investors 66¾p 4¼ ropes on the prospects for his "Rachel" despite the company saying that drilling progresses towards its depth expected.

FTSE 250 mid-cap - index that yesterday the retardataires.Il throw points 37.42 10940.72 - Fidessa lead has slipped p 138 to £ 15.84 after warning that some companies have been delay spending decisions, prompting dealers reduce their ratings on commercial software company.

Numis Securities Fidessa problem to "hold" to "buy" and KBC Peel Hunt analysts also reduced their rating. "We are a buyer long-term Fidessa, but go to a commercial sale on repeated orientation and recent actions rises, said the broker.

Other grouped stocks were also affected by broker downgrades.Regus dropped 3.05 p 83.1 after Panmure Gordon downgraded to "hold" to "buy".WS Atkins has come under pressure falling 17½ % 775 after RBS downgraded to "hold" to "buy", engineering consultancy citing concerns about the impact of global spending on public sector business revenues review too.

But having a better day was Brit Insurance reaches 24 p £ 10 h 45 after accepted a formal offer to companies Apollo Management buyout and CVC Capital Partners.

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Blue-chips slide as minors strike benefits

Miners suffered profits taken once executed a strong with Anglo American, BHP Billiton and natural resources of the Corporation lose 19½ 906 p, 56 percent to £ 21.96½ and 52 percent to £ 29.30 respectively.

Insurers were also favour after Bank of America Merrill Lynch downgraded its ratings on four companies in the sector, primarily citing reasons for evaluation.The broker reduces legal & General position of "buy" to "neutral", in the wake of doing well in the latest mois.Juridique & general actions fell 1.3 101½p.

Standard Life and Old Mutual "neutral" from "buy", also cut analysts by reducing its price target to 160 p 155 p but leaving the target unchanged old price 250 p.Standard Life declined by 0.7 percent 226.3 and Old Mutual dropped 3.3 1 p. Aviva, cut to "underperform" from "neutral", lost 1.2 percent 399.6.

Negative sense extended to banks, where the concerns of the own funds requirements persisted.Lost Barclays 4 p 277.35 and Standard Chartered throw 16½ £ 17.89½.

On a positive note, exploiting that Carnival cruise plot an increase of 114% to £ 27.68 upwards the leader board as counterpart listed U.S., Royal Caribbean Cruises, raised its expected benefit.

Reckitt Benckiser is are strengthened to 18 per cent to £ 34.36 after winning the conditional end EU regulatory approval Monday to buy SSL, the manufacturer of the Durex condoms and sandals Scholl.Goldman Sachs raised its rating "buy" to "neutral", adding to their list of purchase "belief" Reckitt

"The acquisition of SSL channels double us our earnings by share forecast for Reckitt Benckiser for the next five years, growth of 5mC 10pc," said analystes.Le broker added that the acquisition has also increased exposure of Reckitt growth and margin and health care personal higher classes.

However, consumer peer Reckitt, Unilever, came under pressure, falling from 44% to £ 18.12 after a cautious note of Jefferies Cup parsley manufacturer to "hold" to "buy" ahead of a trading update third quarter on 4 November."With winds, declining economies and continuous price relatively low entry-level price we cut our assumptions of average EBITDA margin basis points 45 per year," said the broker, reduce its price target for Unilever £ 20.50 of £ 20.82.

Cairn Energy, ARM Holdings was vying for the dubious honour lead league table of the losers of the.The manufacturer of the chip has lost 23 366.2% after its third-quarter results were eclipsed by a warning from one of its customers who might be weakening of the demande.Pesant on cairn, lost 29½ 382½p take the wooden spoon is a new it put an end to the drilling of a well in Greenland.

Would include stocks of oil AIM, hangar Valiant Petroleum 140 p - or 18 7pc - 610 p after saying abandon his exploration of Northern Viola as well as the dry hole.But Oriel retained their "buy" rating securities analysts"North Viola was a target high-impact and actions benefited by executing the résultat.Ils prediction will obviously take on the announcement, but must be supported by the fundamental value of Don fields continue to be very cash generative, said broker."

Desire petroleum lost investors 66¾p 4¼ ropes on the prospects for his "Rachel" despite the company saying that drilling progresses towards its depth expected.

FTSE 250 mid-cap - index that yesterday the retardataires.Il throw points 37.42 10940.72 - Fidessa lead has slipped p 138 to £ 15.84 after warning that some companies have been delay spending decisions, prompting dealers reduce their ratings on commercial software company.

Numis Securities Fidessa problem to "hold" to "buy" and KBC Peel Hunt analysts also reduced their rating. "We are a buyer long-term Fidessa, but go to a commercial sale on repeated orientation and recent actions rises, said the broker.

Other grouped stocks were also affected by broker downgrades.Regus dropped 3.05 p 83.1 after Panmure Gordon downgraded to "hold" to "buy".WS Atkins has come under pressure falling 17½ % 775 after RBS downgraded to "hold" to "buy", engineering consultancy citing concerns about the impact of global spending on public sector business revenues review too.

But having a better day was Brit Insurance reaches 24 p £ 10 h 45 after accepted a formal offer to companies Apollo Management buyout and CVC Capital Partners.

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