Dow +2.54% at 10269, S&P +2.95% at 1080, Nasdaq +2.97% at 2177, N225 +1.52% at 9063, HK +1.28% at 20888, AUS +0.82% at 4533

US: A drastically improved tone among participants caused stocks to climb quickly and sharply early on, but the S&P 500 spent the rest of the session trending alongside its 50-day moving average. Trigger was the reading in China and the ISM manufacturing number that came in at 56.3,indicating readings of mid 50's for next few months.More than 98% of the names in the S&P 500 staged gains. Some of the biggest moves were made by financials and industrial stocks. Despite the strength, the S&P 500 could not push past its 50-day moving average but volumes picked up albeit below yesterday's month end volume of 1.2bn. Market saw large buy on close imbalances, mainly in financials. Levereged ETFs bought into the close.US closed essentially flat on Europe.Stocks:Apple +3% (new products) Netflix +7%; Alcoa +3% Freeport McMoran +5.8%; Burger King +15% (PE talk); Amazon +6.1% (online video talks); Saks -6.1% (Slim not aware of offer); Transocean +6.7% (takeover talk after Fredriksen's comments); Brown Foreman -4.5%, Joy Global +6.4% (numbers) KB Home +11% (SEC investigation over);Sectors Ooutperforming:Hotels +5.2%, Paper +5.1%, Steel +4.7%.Sectors Underperformed;Int Telecoms +1.7%, Cons Staples +1.7%, Pharma +2%.

Anglo American: said a group of mining companies in Australia plans to lodge a formal bid for Queensland state's coal freight network next week
AVIVA: may sell its 49% stake in taiwan first financial holding insurance unit
Bae Systems: says it won a $629 million contract from the U.S. Mine Resistant Ambush Protected Joint Program Office to upgrade 1700 Caiman MRAP vehicles
BP: Blowout preventer may be removed within 24-36 hour
BHP Billiton: Saskatchewan government won't support takeover attempts for Potash by sov wealth funds or Chinese state owned cos
Cap Gemini: Buys 55% stake in CPM Braxis of Brazil with an option to buy the remaining stake.
Carrefour: Total of 10 parties are interested in it's singapore and malysian assets
EADS: UK and Germany want two to three more months delay to review capacity needs before finalizing the contract for Airbus A400M
Fiat: Ferrari is recalling 458 cars after 5 fire cases.
Gazprom: Q1 results in line, Co. plans to sign an agreement to buy additional natural gas from Azerbaijan
Glaxo: Nicorette Faces FDA review on long-term Use
Hays: FY results in line, Div confirmed.
Pernod Ricard: FY results in line, Org sales +2%; Org EBIT growth +4%; aims to reduce debt in 2010-11. no 2010/11 guidance - will come at AGM on Nov. 10th.
Renault: Is planning buying back a majority stake in the Formula One team that bears its name.
Rio Tinto: CEO sees growth in demand for steel and expects a "bump" in demand for iron ore
RWE: CEO plans to restructure the company and change into a Societas Europaea
Santander: Has Highest Ratio of U.K. Banking Complaints, FT says
Swisscom: Reiterates no decision has yet been made on buying out Fastweb minorities
Total: Says has no plans to buy Cobalt International Energy, it's partner in the Gulf of Mexico
Toyota, GM, Ford: U.S. Sales Drop as car buyers stay home, post lower than estimated sales
Vivendi: CEO Levy Says SFR Deal May Not Be ‘Doable'; Vodafone not flagged interest
Xstrata: says its proposed acquisition of Noranda Income Fund has fallen through after the two companies were unable to reach an agreement,
set to sign the Las Bambas copper mine contract today
Total produce: H1 results solid: pre-tax profits up 5.5%, Revenues up 1.7%, maintains interim div at 0.54 cent per share

Asian markets: Japan +1.52%, China +1.08%, HK +1.28%, AUS +0.82%, India +0.36%, Korea +0.63%, Taiwan +0.69%;
Asian stocks rise to two-week high, led by exporters; Honda +1.6%, James Hardie +1.7%; yen retreats versus euro; Ping An Insurance +5.8% to take stake in Shenzhen Development Bank; Jiangxi Copper +2.6% leading commodity names; IMF raise S Korea GDP forecast; AUS trade surplus lower than expected.

Europe opening -0.29%, ISEQ -0.6% in early trading
Macro today: UK Nationwide House prices, ECB rate decision, French unemployment