Tips:
*Buy Dawson (DWN) at 102p - Melrose (MRO) at 171p - Asia Citrus (ACHL) at 284p - Kirkland Lake (KGI) at 650p - Kurawood (KURA) at 106p.
*Sell Carnival (CCL) at £21.67.
Updates:
*Buy Begbies Traynor (BEG) and Bellway (BWY).
*Sell FKI (FKI).
*RAB Capital (RAB) fairly priced.
The Lex Column:
*UBS's (UBS) caution - having come a cropper in the sub-prime fallout, UBS is determined to reassert its credentials for caution.
*Asian power - investors are queuing up to switch on the lights in Asia, where several power assets are on the block.
*Rentokil (RTO) profit warning - deliverance looks a long way off for the support services conglomerate.
*Lehman Bros kicks off earnings - it looks as though the same hedging skills that contained sub-prime carnage in the third quarter worked equally well in the fourth for the US broker dealer.
*UK housing - the UK property market is now unequivocally heading south and even the most bullish predictions for next year have prices remaining flat.
*Biogen retreats - the biotech company looks more like a shattered clay pigeon than a golden goose after no serious bidders emerged for its auction.
The Lombard Column:
*Shocks from the Rock (NRK) have pushed us into the mire.
*Rexam (REX) takes a bullet.
The Small Talk Column:
*Seasonal cheer from Redhall's (RHL) rapid progress by acquisition.
*Happier holidays at Western & Oriental (WEST).
*Gilttering prosperity for Baqus.
Further news:
*Glencore at the very heart of the Xstrata (XTA) matter.
The Tempus Column:
*Hold on to GKN (GKN) for now.
*There will be better times to buy TUI Travel (TUI).
*Pass on Hunting (HTG).
The Business Commentary Column:
*What if Rentokil (RTO) had taken Robinson bait?
*Credit market jitters are getting worse again.
*Take care with our Orphan Assets.
Further news:
*Sir Paul McCartney criticises EMI for becoming boring.
*Kiwara (KIW) said to be about to hire a new non executive with local mining knowledge and to transfer exploration rights.
*Spice (SPI) is to have won two new contracts.
The Comment Column:
*Higher costs for companies are bad news for everyone.
*The Decade of Debt means borrowing must cost more.
*Talent, hard graft and luck pay off for Reed Elsevier's (REL) Sir Crispin.
Further news:
*Tesco's (TSCO) tech guys aim to make IT support easy PC.
*Rumours that Johnson Service Group (JSG) might be forced into a debt-for-equity swap.
*Ministers prepare plan to nationalise Northern Rock (NRK).
*Olivant has been persuaded to remain in Northern Rock (NRK) auction after gaining reassurance it would be treated on an equal footing to rival bidder the Virgin Group consortium.
*FSA ruling cuts potential for Aviva's (AV.) inherited estate payouts.
*Which? threatens legal action over Aviva's (AV.) plan for payout to shareholders.
*Dow Jones shareholders give green light to News Corp takeover.
*NSB Retail Systems (NSB) confirms takeover talks.
*Japanese insurer Tokyo Marine and Nichido Fire Insurance close to making £430-million offer for Kiln (KIN).
*MTL Instruments (MTI) receives offer approach.
*Inspicio (INP) is to be taken private by 3i Group (III) today.
*BT Group (BT.A) acquires 68.6% stake in Net2S SA.
*Blackstone puts up $1.3-billion to buy fallout from the credit crisis.
*Paternoster has agreed to fund the pensions of 11,000 former employees of P&O in an £800-million deal.
*Lufthansa is buying a 19% stake in JetBlue Airways.
*Betbrokers (BETB) issues 3.73 million shares at 4p.
*DSG International (DSGI) signs deal to sell Dell products in 12 countries.
*Harris Associates cuts stake in Carpetright (CPR) to 6.95%.
*Aegis (AGS) buys 70% stake in China's Heartland Media for initial £4.6-million cash.
*Russia's Gazprom is eyeing a £981-million gas investment in Bolivia.
*Aberdeen Asset Management (ADN) set to launch first hedge fund vehicles.
*Sports Direct (SPD) founder Mike Ashley faces challenge over bidding for Les Ambassadeurs.
*Baqus, the quantity surveyor, comes to AIM today.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow closed up 44.06-points at 13517.96, the Nasdaq slipped 2.65-points to 2668.49, while the S&P recorded a slight rise of 1.82-points to 1488.41.
*Merry Christmas as City bonuses could see some getting £5-million.
*Business anger over changes to capital gains tax has intensified after Chancellor Alistair Darling delayed an announcement on concessions until the New Year.
*Central banks injection fails to avert recession fears.
*Public expectations of inflation have reached the highest level on record, according to Bank of England Quarterly Bulletin.
*Policyholders may lose out as FSA allows insurers to use Orphan Assets.
*Drake Management, the hedge fund, is in crisis talks with investors concerning its flagship fund, following heavy losses from bets against US treasuries.
*US November retail sales up 1.2%; ex autos and gasoline up 1.1%.
*US November PPI up 3.2%; core PPI up 0.4%.
*US October business inventories up 0.1%; retail up 0.4%.
*US weekly jobless claims down 7,000 to 333,000.
*Standard & Poor's sees strong buyback activity in fourth quarter and throughout 2008.
*Fitch rating agency believes housing contraction is expected to extend into 2008 with some ferocity.
*Lehman Bros fourth-quarter profit down but beats estimates.
*Citigroup (CGP) likely to axe tens of thousands in major review.
*Novartis (NOV) poised to axe UK jobs.
*GlaxoSmithKline (GSK) says neuroscience pipeline spans 13 different disease areas.
*Fabio Capello has been named as England's new football manager with an annual salary of up to £6 million.
Compiled in association with HB PLC and WH Ireland Ltd
