RAMSEY CROOKALL 8th July    Morning Report The FTSE 100 up 0.2% maintaining small gains after June PPI. The focus remains on US nonfarm payrolls and the unemployment rate later today. Meanwhile, investors are keeping an eye on media stocks following the closure of News Of The World. Prime Minister David Cameron announced a public inquiry into phone hacking and a second inquiry into the 'culture' of the British press

Banking peers Barclays, Lloyds and RBS are among the best performers. Following suit are insurers Old Mutual, Aviva, Resolution, Prudential and RSA Insurance.

Both Hammerson and British Land have announced deals. Property company British Land is to buy a portfolio of 17 freehold and leasehold racket clubs from French bank Societe Generale for £179m. The clubs will be let on new 25-year leases to Virgin Active pending Virgin's acquisition of the Esporta business..

Meanwhile, real estate investment trust Hammerson edged higher after acquiring a 999-year leasehold interest in 99 Bishopsgate, in the heart of London's financial district, for £100m, including costs.

House builder Bovis was also higher on the FTSE 250 after completing marginally fewer sales in the first half of this year than last, although the average sales price increased by around 3%. Completions eased to 801 from 803 in the first half of last year, but net private reservations in the first half of the year rose 16% to 802 from 691 the year before.

However, Daily Mail and General Trust, the Daily Mail publisher, is one of the best performers on the FTSE 250 after News Corp's decision to close the News of the World, the newspaper that has been a feature of Sunday morning breakfasts in Britain for 168 years. Analysts expect other Sunday circulars to benefit from News of the World’s exit from the Sunday newspaper market.

THE FTSE 100  at 10:00            Up             13         @    6068

THE DOW JONES closed                 Up            93         @    12719                                 NASDAQ COMP closed                   Up             36         @    2872    Exchange Rates GBP – USD           1.5970 GBP - EURO         1.1161