Tuesday, May 29, 2007

Pre Market

Indices in Asia continue to move higher as Shanghai soars to new record highs. Europe is mixed probably waiting to see which way the US opens.

A Royal Bank of Scotland led consortium makes a hostile bid for ABN Amro trumping Barclays previous bid.

URS makes $2.6 billion bid to buy engineering and construction company Washington Group International. Stock of construction and engineering companies such as JEC SAI FWLT FLR KBR TTEK should do well as a result.

Shares of Vodafone are at 5 year highs after the worlds second largest mobile phone company announces solid earnings combined with postive forward guidance. NTT DT VZ T FTE DCM are all good long plays based on the VOD news.

Alcan shares rose once again due to takeover speculaton involving Norsk Hydro and Rio Tinto. ACH CENX NX TG KALU are some potential long plays in the aluminum sector on the back of this news .

Pre market futures are pointing to a strong open in the US markets.I expect this strong momentum to continue throughout the day.

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