In fact we would say 400p would be a steal for GDF Suez – and the main reason is the poor formal reporting on International Power operations which does not allow the market to properly value or understand the assets (see pp26-28 in the section “Financial Disclosure Needs to Improve” in our May note “Living With De-Leveraging” for a rant on this).

“The biting of the nose and the fights, sure, when you’re throwing around that kind of money, people tend to lose it sometimes,” said Pringle, 42, who traded corn, soybeans, 10- year Treasury notes and 30-year bonds. “I miss the excitement.”

Chicago’s open-outcry nostalgists can now watch their slow- motion obituary on film. “Floored,” a documentary that premieres in the city tonight, captures the fading swagger of its exchange pits as electronic trading takes over.

Traders and former traders in the film recount drug-fueled road trips with prostitutes, living in mansions, and a crash that included divorce and having to take a $400-a-week job.

In a statement responding to a call from Prime Minister Nuri al-Maliki to settle a dispute between Iraq’s Arabs and Kurds over the country’s oil wealth, the Kurdish Regional Government (KRG) said it was considering publishing contracts it has signed with foreign oil companies.

b. The anticipated revenue that the Federal Government will receive from the oil production of the Kurdistan Region during the coming five years from 2010 to 2014 will be: $2.75 billion (2010), $8.23 billion (2011), $12.45 billion (2012), $18.27 billion (2013), and $25.62 billion (2014). The total cost compensation of the companies contracted in the Region for the same period will be: $1.4 billion (2010), $0.9 billion (2011), $1.05 (2012), $1.2 (2013), and $1.4 (2014). This illustrates that the Federal Government (Ministry of Finance) will receive in total more than $67 billion as net revenue from the oil produced by companies contracted in the Region in the coming five years. In return, less than $6 billion in costs will be paid to these companies.

c. By 2015 the total revenue will be more than $27 billion per year, with a cost compensation of $1.5 billion per year to the companies involved.

=>Conclusion: Due to the intraday oversold stance in the SPX future we
can see
a stronger bounce to the start of the week but given the deteriorating

picture in studies and key indicators on the daily basis we see the
risk of
starting a first stronger set back near-term.

In the light of recent press coverage concerning the ownership of Jessops, the UK’s leading independent high street photographic chain, the Board of Jessops plc would like to make it clear that Jessops plc no longer owns The Jessop Group Limited, which owns and trades the 213 high street shops and www.jessops.com.

The Board of Jessops plc would like to re-iterate its advice that voting in favour of the proposed MVL, as the Directors are doing in respect to their own shareholdings, is in the best interests of shareholders as a whole as it will result in the receipt of 9.7p per 100 shares owned. If shareholders do not vote in favour of the proposal there is no guarantee that they will receive anything at all.

Whether or not shareholders vote in favour of the proposed MVL, The Jessop Group Limited will continue to operate as an independently owned business.