By ADVFN.com
ADVFN offer FREE streaming stocks and shares data form around the world. SEE

London Market Reports
Banks lead market higher

Market Movers
FTSE 100 5,705.16 +0.64%
techMARK 1,750.91 -0.04%
FTSE 250 10,854.63 +0.42%


UK shares have made a bright start to the week led by the banks after Ireland signed up to the EU/IMF bail-out at the weekend.

Royal Bank of Scotland is the best performer. It has the largest exposure of the UK banks to Ireland. Lloyds, Barclays and HSBC are all going well.

Bank of Ireland, meanwhile, vowed to raise the €2.2bn demanded under the terms of the Irish bail-out through its own efforts and without the help of the Irish state. The Irish bank has to raise the additional capital by the end of next February or else get the cash from the Irish state, which would amount to effective nationalisation.

Miner African Barrick Gold has accelerated its drilling programme at the Nyanzaga Project in Tanzania after more good in-fill results. The miner, which recently suspended 40% of the mining department at its Buzwagi mine in Tanzania following a fuel theft, said its drilling made further successful intersections on the southern extensions with several broad, higher-grade zones of gold mineralization.

BP has sold its stake in Argentina-based oil and gas firm Pan American Energy (PAE) to Bridas Corporation for $7.06bn (£4.52bn) in cash. BP’s 60% will give Bridas, which already owns 40% of the business, full control when the deal completes in 2011. It also puts BP firmly on course to hit its $30bn target of asset sales, announced in July, by the end of next year. Today’s deal pushes the total so far to $21bn.

UK smartphone users won’t rack up such huge bills when travelling in Europe after Vodafone today cut the price of sending emails and surfing the net while abroad. Occasional travellers will be able to take a domestic data plan overseas for €2 (£1.70) per day, 60% less than the company’s existing plans. It also includes an increase to the data allowance.

Oil and gas explorer Salamander has made a 'highly encouraging' gas discovery at its Angklung-1 exploration well in the Bontang PSC, East Kalimantan, Indonesia. Salmander, which is the operator with a 100% interest, says Angklung-1 well flowed gas at a commercial rate and also found a new Upper Miocene oil play, highlighting the potential value in the North Kutei basin.

Qantas on Sunday began flying its Airbus 380s for the first time since a mid-air explosion of a Rolls-Royce engine forced one of the Australian airline's jets to make an emergency landing earlier in November.

Luxury interior furnishings group Walker Greenbank said full year pre-tax profits are expected to be materially ahead of market forecasts after a robust autumn period. The group, whose brands include Sanderson, Morris & Co., Harlequin and Zoffany, said, "During the past few weeks, the company's brands have achieved their highest-ever level of sales of wallpapers and fabrics."


--------------------------------------------------------------------------------

Bet365
Financials betting is now on offer at bet365. Choose from a wide range of markets and bet types. You can bet on Financials every weekday from 08:00 until 21:00. Click here.


--------------------------------------------------------------------------------

UK Event Calendar
INTERIMS
Acal, Invista Foundation Property Trust Ltd., Iomart Group, Phoenix IT Group

INTERIM DIVIDEND PAYMENT DATE
Senior

QUARTERLY EX-DIVIDEND DATE
Schlumberger Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Household Spending (JPN)
Jobless Rate (JPN)
Industrial Production (JPN)
GFK Consumer Confidence (GER) (07:00)
PMI Retail (GER) (08:55)
PMI Retail (EU) (09:00)
Business Climate Indicator (EU) (10:00)
Economic Sentiment Indicator (EU) (10:00)
GDP Growth Estimate (EU) (10:45)
Dallas Fed Manufacturing Activity Index (US) (15:30)

Q3
X5 Retail Group NV GDR (Reg S)

GMS
Bellway, BlueBay Asset Management, Gartmore Growth Opportunities, IS Pharma, Zest Group

FINALS
Phytopharm

ANNUAL REPORT
Diploma

EGMS
Trinity Capital

AGMS
Chalkwell Investments, Creat Resources Holdings Ltd. (DI), Feedback, Fidelity Asian Values, Fidelity Asian Values 'S' Shares, Forte Energy NL, Gladstone Pacific Nickel Ltd., Global Petroleum Ltd., Leyshon Resources Ltd., Range Resources Ltd. (DI)

UK ECONOMIC ANNOUNCEMENTS
Hometrack Housing Survey (00:01)
Consumer Credit (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
PMI Retail (09:30)


--------------------------------------------------------------------------------

111% return by 2013. Invest in Gold Standard Carbon Credits.
Find out more, Click Here.


--------------------------------------------------------------------------------

European Market Reports
Irish bail-out lifts the mood

European stocks have started the week on the front foot, heartened by the rubber stamping of the €85bn bail-out for Ireland.

The Paris CAC 40 is up 30 points at 3,758 and the German DAX is up 34 at 6,883. Spain’s IBEX 35 index is 91 points to the good at 9,639.

Irish banks Bank of Ireland and Allied Irish Banks both respond positively to the Irish aid package, parts of which will go towards bolstering the banks’ core capital ratios.

Bank of Ireland, however, has vowed to raise the €2.2bn demanded under the terms of the Irish bail-out through its own efforts and without the help of the Irish state. The Irish bank has to raise the additional capital by the end of next February or else get the cash from the Irish state, which would amount to effective nationalisation.

Other European banks, such as Credit Agricole, Societe Generale, Commerzbank, Deutsche Bank, Banco Bilbao Vizcaya Argentaria, Royal Bank of Scotland and Barclays , emit a sigh of relief that the package for Ireland is now done and dusted.

Company news is thin on the ground. East European lender Raiffeisen Bank International is firmer after third quarter net income of €311m came in comfortably ahead of market expectations of €240m.

French steelmaker ArcelorMittal leads the French market higher after it said on Friday it would resume its share buyback programme.

In broker action, tool maker Sandvik has been upgraded to “overweight” from “neutral” by JPMorgan Chase.


CAC 40 - Risers
Credit Agricole (ACA) € 10.24 +1.84%
Lagardere SCA (MMB) € 30.12 +1.69%
LVMH (MC) € 121.80 +1.63%
Schneider Electric (SU) € 111.15 +1.55%
ArcelorMittal SA (MT) € 24.38 +1.52%
Societe Generale (GLE) € 38.99 +1.50%
AXA (CS) € 12.04 +1.30%
Saint Gobain (SGO) € 36.42 +1.19%
Vinci (DG) € 39.63 +1.17%
Carrefour (CA) € 36.81 +1.08%

CAC 40 - Fallers
Alstom (ALO) € 31.47 -1.12%
Essilor International (EI) € 47.71 -0.41%
EADS (EAD) € 17.40 -0.34%
Accor (AC) € 33.55 -0.33%
Technip (TEC) € 61.70 -0.31%
Michelin (ML) € 54.05 -0.09%
France Telecom (FTE) € 16.17 -0.06%
EDF (EDF) € 32.56 -0.06%
Cap Gemini (CAP) € 33.49 -0.00%


--------------------------------------------------------------------------------

Britain’s Best Investment Guarantee of 2010
An investment that gives you 100% capital security with the potential to earn unlimited returns – historically 10% per annum.

Register for your free report on a surprising and unique asset class here


--------------------------------------------------------------------------------

US Market Reports
Black Friday can't lift Dow

Wall Street finished well down on the day as tension levels in Korea rose again and European concerns moved from Ireland to Portugal.

The Dow Jones industrial average closed the day down 95 at 11,092 while the broader based S&P 500 dropped 8 points at 1,1989. Nasdaq fell 8 points to 2,534.

Early indications for the year's big retail sales day, or Black Friday, were 'good', with larger-than-expected crowds. Black Friday, the day after Thanksgiving, typically marks the start of the annual pre-Christmas retail period.

Banks held up better than expected to the prospect of Portugal following in Ireland’s wake and seeking a bail-out. Portugal’s leaders are denying the country is seeking financial assistance but the market is sceptical; bond yields in Portugal and Spain continued to climb today as investors worried over their ability to repay debts.

The only risers on the Dow were Cisco Systems and Microsoft. Commodity-related companies were lower with Freeport McMoRan Copper & Gold and Newmont Mining leading them down.

Del Monte has agreed a $19 a share takeover by private equity group Kohlberg Kravis Roberts valuing the food and pet products producer at $5.3bn.

Best known in the UK for its “man from Del Monte” adverts, the American firm makes canned vegetables, Meow Mix cat food and Milk-Bone dog biscuits.

Its shares closed at $17.99 on Wednesday, the day before KKR launched its cash bid, but the shares are up about 40% over the average closing share price during the past three months since rumours of a deal first began.

Aircraft maker Boeing has dipped after it announced further delays to the return to the air of its test fleet of six Dreamliners. The aircraft were grounded last week after a fire on one of them. Boeing is making changes to the airplane’s electrical system and software monitoring programs.

Newspaper publisher Gannett says activity on its retail advertising website is sharply higher as Black Friday shopping sparks additional interest.

S&P 500 - Risers
Monster Worldwide Inc. (MWW) $23.18 +3.67%
NASDAQ OMX Group Inc. (NDAQ) $22.10 +2.71%
Amgen Inc. (AMGN) $54.99 +2.15%
Marshall & Ilsley Corp. (MI) $4.76 +2.15%

S&P 500 - Fallers
AFLAC Inc. (AFL) $51.55 -4.50%
Eastman Kodak Co. (EK) $4.67 -3.51%
Office Depot Inc. (ODP) $4.49 -3.44%
Supervalu Inc. (SVU) $8.74 -3.00%

Dow Jones I.A - Risers
Cisco Systems Inc. (CSCO) $19.50 +0.21%
Microsoft Corp. (MSFT) $25.40 +0.12%

Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $37.58 -1.52%
American Express Co. (AXP) $42.41 -1.37%
E.I. du Pont de Nemours and Co. (DD) $46.42 -1.36%
Johnson & Johnson (JNJ) $62.43 -1.36%


--------------------------------------------------------------------------------

Open a Selftrade Dealing account...
...and pay a flat £12.50 per trade. Deal in UK and International Equities, Funds, Bonds, Covered Warrants and Listed CFDs. Instant account funding via debit card. No dealing fee on fund purchases. Annual Management Fee of £35 + VAT. Click here


--------------------------------------------------------------------------------

Newspaper Round-up
Network Rail, Ireland, BP...

Commuters into London from Essex and East Anglia and train passengers in Liverpool could be the guinea pigs in a radical break-up and part-privatisation of Network Rail.

The Department for Transport is set to consider reforms that could promote the “vertical integration” of parts of the network, allowing train operators to own the tracks and stations they use. If such a scheme were to go ahead, the National Express franchises out of Liverpool Street and Fenchurch Street, which come up for re-tender next year, could be prime candidates, the Times reports.

EU members and the IMF pledged to provide Ireland with €10bn in immediate assistance to prop up its indebted banking system and a further €25bn in "contingency" funding should the country's banks need it. The deal was agreed in Brussels after six hours of negotiation between EU finance ministers, including George Osborne, Chancellor of the Exchequer. Britain will provide €6.9bn to Ireland as part of the rescue package through a mixture of bilateral loans and as part of the larger EU bail-out fund, the Telegraph reports.

France and Germany, with the support of the European Commission and the European Central Bank, have reached agreement on the central elements of how private creditors will be involved in future eurozone debt crises. Paris and Berlin were seeking the backing of European Union finance ministers meeting in Brussels on Sunday night, as the bloc accelerated its preparations for a permanent inter-governmental financing facility in a bid to reassure financial markets unsettled by the Irish debt crisis, the FT reports.

George Osborne will publish draft plans for stimulating growth today as the new independent budget watchdog paints a more positive picture of the economy for this year.The Office for Budgetary Responsibility (OBR) is expected to revise up its June forecast of 1.2% growth for 2010 to more than 1.5%, although predictions for future years may be cut. The better prospects for this year are largely the result of a surprise increase in consumer spending in the third quarter. However, the high street splurge is being driven in large part by consumers attempting to beat the VAT increase in January, the Times reports.

Anxieties about Britain's faltering economic recovery will be heightened today by new data revealing that improvements in the key services sector appear to have stalled over the past quarter. The Confederation of British Industry's (CBI) latest snapshot of the dominant part of the economy is published on the day the Chancellor delivers his autumn statement and the Office for Budget Responsibility gives its latest forecasts for UK GDP growth. The CBI said 30% of consumer services businesses had seen the value of their work rise over the three months to the middle of November, while 38% had seen a fall, a negative balance of 8%, the Independent reports.

Huge salary rises at banks have filtered down to middle and junior level staff, leaving even the average "vice-president" – a catch-all title for mid-ranking employees – on close to six-figure salaries, according to City headhunters. The City recruitment firm Astbury Marsden said the average base salaries for City workers at vice-president level had increased by a fifth over the past year, from £81,250 to £97,500, the Independent reports.

BP has agreed to sell its stake in Pan American Energy to Bridas Corp. The $7.06bn (£4.5bn) disposal would give Bridas, which owns 40 per cent of the Argentina-based oil and gas group, complete control over the company. It is the latest in a series aimed at raising money to cover the estimated $40bn cost of the Gulf of Mexico spill. BP has agreed so far to sell about $21bn of assets since April, the Times reports.

Qantas on Sunday began flying its Airbus 380s for the first time since a mid-air explosion of a Rolls-Royce engine forced one of the Australian airline's jets to make an emergency landing earlier in November. The flight from Syndey via Singapore landed at Heathrow on Sunday morning. Alan Joyce, Qantas chief executive, joined the 453 passengers on board for the first leg of the flight, the Telegraph reports.

People wanting to live in England’s smaller market towns are having to pay £29,319 extra to buy a home, despite nationwide falls in house prices. Research published today by Lloyds TSB shows that houses in market towns cost an average £231,163 — just over seven times average annual earnings and 14 per cent more than prices across English counties. More than two thirds of market towns also command higher prices than neighbouring towns, the Times reports.