13/07/07 FTSE 100 6697.7, +82.6 Dow 13861.7, +283.9 FTSE 250 11809, +142.2 Nasdaq 2701.73, +49.94 FTSE All Share 3454.05, +40.96 S&P 500 1547.7, +28.95 Nikkei 18238.9, +254.8 Hang Seng 23083.1, +274.1 Oil (Brent) $76.34 Gold $667.1 Base Rate 5.75% 10 Yr Gilt 5.497% £/$ 2.027 Euro/Gbp 0.6790 Market report  US stocks added 284 points to a record close on Thursday, posting its biggest gain in nearly 5 years, on a flurry of takeover activity and some upbeat retail sales numbers. The DJIA closed 283.9 points higher at 13861.7, its biggest one day points gain since October 15 2002 when the Dow climbed more than 378 points. The S&P500 closed 28.94 points higher at 1547.70, also finishing in record territory after climbing 1.9 percent. The Nasdaq added 49.94 points to close at 2701.73.  A bout of merger activity helped send stocks higher, as Rio Tinto said it agreed to buy Alcan in a deal valued at $38.1bn that would create the world's largest aluminium producer and thwart Alcoa's hostile bid for the company. Alcan added $8.85 to close at $98.45 on NYSE. Alcoa added $2.86 points to close at $45.29, it was the biggest gainer in the Dow up nearly 7 percent, on bets that it may too get bought out. In other takeover news, Apollo Management's Hexion Specialty Chemicals said it agreed to buy chemical maker Huntsman in an all cash deal worth $6.5bn, however the stock fell over 4 percent on the NYSE. Wal-Mart delivered some impressive results, reporting that same store sales rose 2.4 percent, almost three times higher than forecasts. Wal-Mart climbed 2 percent on the news. American Eagle Outfitters jumped over percent after the company posted a strong 8 percent jump in its June sales, beating expectations for a 4.4 percent gain. Macy's said its sales fell more than expected by 2.7 percent in June, sending its shares nearly 3 percent. In economics news, a better than expected retail sales reading for June provided a big boost for stocks as the consensus on Wall Street was that the numbers would disappoint. The trade gap widened in May, meeting economists expectations, with much of the rising gap due to oil prices. Weekly jobless claims fell more than expected to 308,000 last week, the labor department reported. Oil prices retreated as US light crude for August delivery fell 6 cents to $72.50 a barrel on NYMEX. Treasury prices eased, taking the yield on the 10 year note to 5.13 percent from 5.09 percent level reached on Wednesday. The dollar eased slightly against the euro after sliding to record lows in the previous two session's. The dollar edged higher versus the yen. COMEX gold for August climbed $6.20 to $668.30. The Nikkei average rose 254.81 points to close at 18238.95 today, led by Shin Etsu Chemical Co which jumped after a brokerage lifted its target price, while chipmakers gained following an earnings announcement by Samsung Electronics that indicated a brightened second half. A urge on Wall Street buoyed a wide range of blue chip issues including Honda Motor Co. Shares of metal companies such as Mitsubishi Materials climbed after Rio Tinto agreed to buy Alcan Inc. The FTSE100 closed 82.6 points higher at 6697.7 on Thursday, with miners rising after Rio Tinto signed a cash deal to buy Canada's Alcan, and oil stocks were lifted as crude rose to an 11 month high. Shares in mining stocks rose as Rio Tinto's $38.1bn bid for Canadian rival Alcan raised hopes for more bids in the consolidation sector. Vedanta climbed 6.5 percent, while Antofagasta added 6.4 percent, Xstrata was up 4.7 percent and BHP Billiton rose 4 percent. But Rio Tinto slipped as much as 4.6 percent. In other commodities, London Brent crude hit 11 month highs above $76 a barrel, propelled by strong fundamentals and increased flows of fund money into the world's most actively traded commodity. BP added 1 percent, while Royal Dutch Shell climbed 1.6 percent. The latter reversed earlier losses after UBS downgraded the stock to neutral from buy. With little on the economic calendar, persistent concerns over US subprime mortgages weighed on real estate stocks, with Liberty International down 0.7 percent and Hammerson falling 0.9 percent. Whitbread lost 2.5 percent as traders cited dwindling bid speculation which saw its stock rise by over 7 percent in the previous session. US property investor Starwood Capital Group was linked to 2400 pence per share bid for Whitbread on Wednesday. British Airways gained 5.3 percent to feature among the top three FTSE100 gainers, as traders said a recent two day sell off on high oil prices was overdone. In other news, the board of directors of Spain's Iberia said it will open its books to private equity firm TPG, which is bidding for the airline, but only if TPG agreed to confidentiality. So far, the consortium has only indicated it will make a E3.4bn offer. The consortium includes British Airways which owns 10 percent of Iberia. Man Group added 4.1 percent after the company said its assets under management rose to $67bn at end June, up from $67.1bn at end March and that it was upbeat on prospects. Experian Group fell 0.7 percent after it said its first quarter trading was in line with expectations despite headwinds in its key US and British markets, with sales up 8 percent at constant exchange rates. Economic report    US Retail sales (June) 13.30 gmt HSBC think that June retail sales are on track to disappoint at -0.4 percent, as auto sales came in well below expectations. Unit auto sales fell to 16.5m from 16.2m, and price incentives were added towards the end of month, so they expect auto dealer sales to fall by more than 2 percent. Ex auto sales are expected to be flat (+0.1 percent ex autos and gasoline). Building material sales may continue to drop as home sales and construction trend lowers. Redbook retail sales fell 1 percent in June, and general merchandise sales are expected to moderate to +0.4 percent. US University of Michigan confidence (15.00 gmt) July consumer sentiment is expected to increase to 87 after being revised higher to 85.3 in the second half of June. Gasoline prices have fallen for the past six weeks, while last weeks ABC/Washington Post survey improved to -7 from -12. US Business inventories (May) 15.00 bst We know that May manufacturing inventories rose 0.3 percent. Assuming a 0.4 percent increase in wholesale and a 0.3 percent increase in retail inventories, total business inventories are seen to have risen 0.3 percent. The details published in this e-mail are intended for information only and should not be construed as advice under the Financial Services and Markets Act 2000. Aventus Capital Management will not accept responsibility for any actions taken (or not taken) on the basis of information published in this e-mail. Aventus Capital Management is a trading style and ‘Aventus’ and the Aventus logo are trademarks of Rickerbys Solicitors.  Regulated by the Solicitors Regulation Authority. Authorised and regulated by the Financial Services Authority.