Morning all. Market reports:

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

Tuesday

Leading Western stock markets are set to rebound in the new year from a lacklustre 2007 that saw most eke out only meagre gains, eclipsed by the stellar performance of Chinese and other emerging market shares.
Forecasters predicting a brighter dawn in the West

The pound suffered its weakest annual performance for 15 years in 2007, as markets bet that 2008 will be a miserable one for the British economy.
Biggest drop for sterling since '92

Business faces a slowdown of uncertain depth and duration this year, amid big challenges from the global economy, the CBI gives warning today.
CBI chief warns UK Plc to brace itself for full impact of credit crisis, but hopes for soft landing

Bank writedowns and thousands of job cuts put a dampener on celebrations as the financial sector faces a spell in recovery.
City faces tough times as recession threat grows and era of easy money comes to an end

London Scottish Bank, the debt collection and finance group, is threatening to scrap its dividend and launch an emergency rights issue to repair its capital base after breaching regulatory rules due to escalating bad debts.
London Scottish may scrap dividend

Mortgage bank Alliance & Leicester held takeover talks with Grupo Santander, the Spanish owner of Abbey National. Grupo Santander is understood to have held tentative discussions with A&L in early December about a possible deal that is likely to have valued the British mortgage bank at more than 2.7bn.
Alliance & Leicester held talks with Santander

Wednesday

An overhaul of the way banks are regulated threatens to make the financial sector even more vulnerable to recessions, the Bank of England has warned.
Overhaul 'increases risk of recession'

Alliance & Leicesters weak share price has made the mortgage bank a likely takeover target, as it emerged yesterday that the bank held talks with Spains Grupo Santander last month. Those discussions are not active, although Santander has been careful not to rule out another approach.
Share price weakness left A&L open to approach by Spanish raider

A year after Fidelitys Anthony Bolton famously complained that it was difficult, as a fund manager, to find value ideas, the opposite now would appear to be the case: value is everywhere, or so it would seem.
The Smiths offer reasons to be cheerful in the top ten

The average home will lose 8,000 or more of its value this year, experts have warned. Research for The Daily Telegraph forecasts house prices will drop by up to four per cent in 2008 - the first annual fall in 15 years.
House prices to fall for first time in 15 years

Commercial property prices have slid for the first time in 15 years but many see it as a correction, not a catastrophe.
Optimists stand tall as tremors hit office market

Gold is set to continue its record run this year after finishing 2007 at its highest level in nearly three decades. Analysts predicted that its value would continue its unprecedented upswing, now seven years running, amid continuing economic and geopolitical turmoil.
Golden year predicted as yellow metal closes in on all-time high

In putting together our portfolio for next year, we have taken the view that in the round 2008 will be another lacklustre year for share prices in mature Western economies. But we don't think there will be a recession, and are equally confident there won't be a crash.
Share tips: Natural resource firms likely to thrive in challenging year

TFN economic and business calendarAustralian shares close higher led by Centro PropertiesThomson Financial Europe AM at a glance share guide: Stocks dip, oil rises

Australian shares close higher led by Centro Properties - UPDATE

Good morning traders!

In Asia today, the Hang Seng index ended the morning down 240.43 points at
27,572.22. Markets in Japan remain closed fpr a public holiday.

New York's main oil contract, light sweet crude for February delivery, was recently
at $96.34 a barrel.

Happy trading!

Thomson Financial UK at a glance share guide - New Year's Day

TFN UK calendar and forecasts for today

London shares outlook - lower on first day's trading in 2008; NY drop hampers

Thomson Financial UK at a glance share guide

The Wednesday Press Roundup

AUSTRALIA	SHANGHAI	HANG SENG

BP. has settled its Alaskan tax dispute for $379m. Alliance & Leicester (AL.) has emerged as Santander's aborted bid target from early December, but the FT says they might yet come back to the table.

RAB Capital (RAB) have increased their stake in Northern Rock (NRK) to 7.59%.

Among the small-caps, a director of Chinese solar-cell manufacturer Jetion Holdings (JHL) has been buying stock after a five-month long slide, putting her holding up to almost 59% of the company.

FTSE is currently being called down 43 at 6414 by CMC. Dow futures are down 55 at 13,210 after their 101 point on Monday.

BROKERWATCH McBride price target cut to 114 p, estimates cut by Goldman SachsLondon shares open higher, investors hope volatility eases off in 2008

UK smallcap opening - Oilex says Oman drilling programme commences

BROKERWATCH Europe retail sector price targets cut by Credit Suisse

UK smallcap opening - SCi Entertainment weak on negative weekend press commentUK smallcap opening - AssetCo, Proximagen lifted by New Year press share tips

BROKERWATCH Marks & Spencer tipped as 'Christmas winner' at Goldman Sachs

UK small caps weak on first session of 2008, bucking brighter trend for FTSE 350Metals - Gold rises as geopolitics, weak dollar lend support

Metals - Copper edges up on bargain hunting but rising inventory caps gains

STOCKWATCH A&L soar on Santander bid talk

Metals - Gold rises as geopolitics, weak dollar lend support UPDATE

STOCKWATCH Ladbrokes shares higher on Turf TV deal; Investec reiterates 'sell'

London shares - midmorning features

STOCKWATCH A&L soars on Santander bid talk UPDATEFOCUS AstraZeneca, GSK Oil-for-Food fine unlikely, more health cos to be probed

Metals - Copper edges up on bargain hunting but rising stocks cap gains UPDATE

STOCKWATCH Drax dips as Goldman Sachs cuts price target and trims forecasts

STOCKWATCH Eni outperforms on hopes for share buyback, Kashagan deal on Jan 11

US futures search for direction

London shares - midday features

WALL STREET OUTLOOK Slightly higher opening likely, manufacturing data in focusUK small caps turn higher at midday; Pantheon Resources up as new CEO is named

Midday Market Roundup

Precious Metals Summary - London AM Fixings

STOCKWATCH Ladbrokes, Wm.Hill weak; DK cuts targets, estimates on TurfTV victory

OUTLOOK Next kicks off Christmas updates with expected LFL sales decline UPDATE

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

Metals - Copper eases from day highs as US ISM, construction data comes in mixed

TFN economic and business calendar to Wednesday Jan 16

End-of-day Market Roundup

Greystone, Kyoto at al, thanks very much for the info provided on this thread. I hope 2008 brings you luck and Kyoto, I hope that this is the year that you triumph over bureaucracy.

Steve