Hello traders!

In the US tonight, the Dow closed up just 6.26 points at 13,974.31, while the
S&P500 was ahead 3.25 points at 1,542.84 and the Nasdaq Composite fell 1.75
points to 2,727.68.

See you in the morning with the latest.......

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

HSBC, Britain's biggest bank, has warned that Britain faces a stark "de-rating" by investors in coming months as growth slows and funds begin to lose confidence in the country's economic management, triggering a mass exodus of "hot money" from the City.

HSBC warns of hot money exodus from Britain under 'siege'

For years, fixed income, the dull younger brother of the investment banking family, has brought home the bacon on an annual basis. But now, three months in to the credit crisis, the blame witch-hunt has started, and the spotlight is on the oft-ignored specialism.

Downturn hits banks' fixed-income trading

The rapid growth of sovereign wealth funds, petrodollar investors, hedge funds and private equity groups poses significant risks for the world economy, claims a report from management consultant McKinsey.

Rise of the giant fund sparks fears of a global shockwave

A major Spanish savings bank has drastically increased its cash reserves in preparation for a sharp increase in loan defaults, it emerged yesterday, adding to increasing worries that the Spanish economy is set for a fall after a decade and a half of growth.

Spanish worries mount as bank hoards cash

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

Thomson Financial Europe AM at a glance share guide: Stocks flat; oil mixedTFN economic and business calendar

Good morning traders!

In Asia today, the Nikkei was little changed at 17,093.47, while the Hang Seng
rose 2.5% to 27,633.62.

Crude oil for November delivery fell as much as 18 cents to $81.26 a barrel in
electronic trading, after rising $1.50 to $81.44 a barrel on the New York
Mercantile Exchange Thursday.

Happy Friday!

G.

TFN UK calendar and forecasts for today

BROKERWATCH Alliance & Leicester downgraded to 'sell' at Deutsche Bank

The Friday Press RoundupLondon shares outlook - slightly firmer, NY higher; US jobs data keyLondon shares outlook - slightly firmer, NY higher; US jobs data key

Thomson Financial UK at a glance share guide

BROKERWATCH HBOS cut to 'hold' from 'buy' at ABN Amro; target price 10 stg

UK smallcap opening - Petards hoisted on 1 mln stg contract win

Tokyo shares close narrowly mixed; investors await US jobs data

STOCKWATCH British Land dips after pulling Meadowhall sale due to market turmoilAustralian shares close higher on bargain hunting; key indices up on weekUK smallcap opening - Avon Rubber rises on contract news

STOCKWATCH Shire edges up after drug approval in Japan; Landsbanki keeps 'hold'UK smallcap opening - Monitise firms on NYCE deal

UK smallcap opening - Centurion Electronics advances on in-line trading update

UK smallcap opening - Waterman moves up on better-than-expected FY numbersTokyo shares close narrowly mixed; investors await US jobs data - UPDATELondon shares open up tracking higher NY close; US jobs data seen key

Australian shares close higher on bargain hunting - UPDATE

UK smallcap opening - Voller Energy up on reports of deals

UK smallcap opening - Plus Markets firms on bid talk

STOCKWATCH Yell Group up after Bear Stearns initiates with 'outperform'STOCKWATCH Beiersdorf higher on vague rumours that Henkel may bid for the co

Good morning

Keep an Eye (Added by Master RSI on Fri 05 Oct 09:14 am)

VLK - Mid 78.875p
Reason - Slowly moving higher after a chart pattern of BOUBLE BOTTOM, today is breaking from the AXIS ( last high ) Goodbody Stockbrokers reitatated a "BUY" note yesterday

Chart on a BREAKOUT today fron Double Bottom

UK smallcap opening - Cape Lambert Ore retreats after ending Ding transaction

Chart for VLK with Indicators

UK small caps open higher with Centurion Electronics strong on a positive updateMetals - Gold steady ahead of US data, palladium hits 6-week high

Metals - LME inventory data (Friday)

Metals - Copper consolidates as market awaits US data; Lead hit new record high

STOCKWATCH Sainsbury gains on vague talk of combined M&S, private Equity bidSTOCKWATCH BAT down on talk Richemont planning to sell its stakeSTOCKWATCH Cadbury Schweppes up sharply; Sanford Bernstein keeps 'outperform'

Metals - Copper consolidates as mkt awaits US data; Lead hits record high UPDATE

STOCKWATCH Infineon at bottom of DAX after peer Gartner cuts 2008 outlookMetals - Gold steady ahead of US data, palladium hits 6-week high UPDATE

London shares - mid-morning features

UPS (Added by Master RSI on Fri 05 Oct 11:06 am)

VOG - Mid 25.875p
Reason - Forming a CUP and HANDLE shape on the chart, volume picking up today with share price aswell, large volume when forming the CUP now is time for the Handle.

Chart of CUP and Handle for VOG

BROKERWATCH UK utilities' price targets reshuffled at Goldman Sachs

STOCKWATCH Deutsche Boerse higher on speculation to be included in EURO STOXX 50

BROKERWATCH UK housebuilders downgraded to 'neutral' in ABN Amro sector review

WALL STREET OUTLOOK Higher open seen ahead of September jobs report

BROKERWATCH Rio Tinto downgraded to 'hold' from 'buy' in ABN Amro mining review

OUTLOOK C&C pray for good news on H2 expectations

London shares - midday features

Midday Market Roundup

STOCKWATCH Abertis in focus as Atlantia/Italy deal seen smoothing merger plan

UK small caps hold firm at midday; Centurion Electronics up on positive updatePrecious Metals Summary - London AM Fixings

Metals - Gold falls below 730 usd after US data boosts dollar

Metals - Copper comes off day lows on better-than-expected US payroll numbers

Metals - Gold falls after US data boosts dollar UPDATE

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Friday Oct 19

End-of-day Market Roundup

Have a great weekend everybody!

G.

Friday's market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

Beleaguered investment bank Bear Stearns is the subject of a criminal investigation into the collapse of two of its mortgage-related hedge funds and the loss of $1.6bn (£800m). Federal prosecutors have launched the investigation, which comes in addition to an existing probe by the powerful Securities and Exchange Commission. The US Attorney’s Office in the Eastern District of New York is reported to have made a request for information related to the hedge funds from the bank, in connection with the fund losses.

Bear Stearns facing Federal crime probe

Global investment bank Merrill Lynch is to write off almost $5.5bn (£2.75bn) as a result of a significant series of wrong-way bets on the debt markets which were exposed due to the continuing credit crisis. The hit is one of the largest for any single investment bank to date during the crisis, and comes as a result of severe problems in Merrill's fixed income, currencies and commodities (FICC) business.

Merrill writes off $5.5bn as turmoil grows

The 12 members of the Federal Reserve may be rethinking their 0.5pc interest rate cut last month after key jobs data that their decision was partly based on was revised.

Fed based rate cut on false jobs data

Some 40,000 people work in investment banks in the City and, since the credit crunch hit in July, the people whose job it is to raise debt, parcel it up, buy it and sell it on have had very little to do.

Fear and loathing over jobs in the City