Hello traders!

In the US tonight, the Dow Jones was up 176.72 points at 12,383.89, while the
S&P500 gained 23.36 points at 1,353.97 and the Nasdaq Composite added 1.72
points to 2,327.92.

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

G.

Good morning traders!

In Asia today, the Hang Seng ended the morning up 544.02 points at 24,597.63,
while the Nikkei reached the midpoint ahead 1.8% at 13,329.07.

New York's main oil futures contract, light sweet crude for delivery in March, rose
6 cents to $91.05 per barrel.

Happy trading!

G.

Morning all. Market reports:

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

The number of repossessed homes being sold at auction has soared to levels last seen during the 1990s house price crash, according to Europe's biggest residential property auction house. Allsop said nearly 40pc of all the homes it was currently putting under the hammer were properties that were being sold by banks and building societies that had repossessed them.
Repossessed homes flood auctions

Rental growth in the office markets, a key indicator of economic prosperity, continued to surge across Europe last year, according to a report from property agent Jones Lang LaSalle. Rents Europe-wide rose by more than 10pc, led by Moscow, Oslo and Athens, which saw rental growth in excess of 40pc during 2007. London, the biggest and most expensive office market in Europe, also enjoyed strong growth with rents in the West End up 21pc and in the City up 10pc.
Office rents surge in Europe

Spanish banks are issuing mortgage securities and asset-backed bonds on a massive scale to park at the European Central Bank, using them as collateral to raise money at favourable rates from the official credit window in Frankfurt.
ECB aid to Spanish banks matches Rock rescue

David Blanchflower, the leading dove on Britain's Monetary Policy Committee, has broken ranks in a rare outburst of dissent, rebuking colleagues for waiting too long to cut rates as the economy slows abruptly. "Worrying about inflation at this time seems like fiddling while Rome burns," he said, resorting to language rarely heard in the bland world of central banks.
Central bankers are fiddling as Rome burns

Ben Bernanke, Chairman of the US Federal Reserve, was facing mounting criticism last night of his handling of the crisis in world markets, raising concerns that he has lost the confidence of Wall Street before the Feds key meeting on interest rates.
Ben Bernanke under fire ahead of Fed rate meeting

The Federal Open Markets Committee may want further rate cuts but inflation fears limit their options.
Fed risks 'blood on the floor' on rate cuts

The dollar slid by more than a cent against the euro after a drop in new home sales across the US strengthened traders' expectations that the Federal Reserve will again cut interest rates tomorrow.
Dollar falls as traders anticipate rate cut

Wild fluctuations on the Chinese stock markets continued yesterday as the Shanghai Composite index of "A" and "B" shares fell by more than 7pc. Analysts blamed fears for the country's prime export market in the United States on the index's drop of 342.39 points to 4,419.29, or 7.2 pc, matching a similar drop on Tuesday last week.
Chinese shares tumble on US recession fears

A Chinese coalminer has attracted $433billion (218billion) in share applications for its flotation on the Shanghai Stock Exchange. The scramble by private investors for shares in China Coal Energy occurs as coal prices surge to record levels worldwide and Chinese power stations struggle to keep the country warm and lit in an extraordinary winter chill.
Scramble for coal shares in China reflects growing thirst for resources

Hedge funds worldwide are heading for their worst monthly performance in almost ten years amid signs that the credit crunch is claiming fresh victims across the investment markets. Industry experts predict that there will be a shakeout of the hedge fund industry this year, with a rash of collapses among funds with less than $10 billion under management.
Hedge funds suffer in volatile markets

The Chicago Mercantile Exchange (CME) is in talks with its New York rival Nymex about an $11 billion (5.5 billion) deal to create one of the worlds largest derivatives exchanges.
Chicago and New York could create $11bn derivatives giant

Je Kerviel, the French rogue trader, was freed on bail last night. He has admitted that he concealed billions of euros worth of secret deals but said that he was acting in his banks interest and that others also broke the rules, the chief Paris prosecutor said yesterday.
Rogue trader: I did it - but I only wanted a bonus

SociGale's beleaguered management has taken a further battering after it emerged that the bank was alerted to unusual trading by Je Kerviel last year. Jean-Claude Marin, the prosecutor examining the case of Mr Kerviel, who is accused of losing 4.9bn (3.7bn) through unauthorised trades, said a preliminary investigation had discovered that a German derivatives exchange had raised the alarm two months ago.
SociGale bosses warned last year on 'rogue trader'

Prosecutor Jean-Claude Marin said Kerviel, who gave himself up on Saturday, had told investigators that other irregular deals had taken place since the end of 2005. This could seriously undermine SocGen's defence that the 31-year-old trader was a one-off fraudster of genius who eluded its risk-control processes through elaborate fictitious trading, building up a huge exposure. "There were other traders who had acted in a similar way by exceeding their trading limits," Kerviel told the police, according to the prosecutor.
SociGale faces lawsuit, while Kerviel turns spotlight on fellow traders

SociGale faces legal action after it emerged that a member of the French bank's board sold shares worth 95m (71m) just days before the "rogue trader" scandal emerged.
SociGal faces legal action after share disposal

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

JAPAN'S NIKKEI INDEX ENDS UP 390.95 POINTS (3%) AT 13,478.86

OUTLOOK Johnson Matthey to give upbeat outlook in trading statementOUTLOOK Autonomy Q4 profits expected to soarAustralian shares close lower ahead of US interest rate decision - UPDATETFN economic and business calendarAustralian shares close lower ahead of US interest rate decision

TFN UK calendar and forecasts for today

*PRUDENTIAL SEES 2008 ASIA SALES BELOW 2007 LEVELS; OUTLOOK 'POSITIVE' OVERALLLondon shares outlook - higher, NY rebounds, investors await earnings news

The Tuesday Press Roundup

Thomson Financial UK at a glance share guide

BROKERWATCH TF1 to 'sell', Mediaset to 'hold', Antena3 to 'sell' at ABN AmroUK smallcap opening - ValiRx advances on Australian GeneICE patent grantUK smallcap opening - Nostra Terra Oil up on oil, gas find at Oktyabroskoe

First Day of Dealings

BROKERWATCH Teliasonera upped to 'outperform, Elisa cut at Credit Suisse

UK smallcap opening - Maghreb Minerals up after encouraging drilling results

UK smallcap opening - Kalahari Minerals higher on uranium upgrade

STOCKWATCH Prudential climbs after FY sales beat expectationsLondon shares open higher; TUI Travel gains after positive trading update

UK smallcap opening - Elixir Petroleum gains on positive drilling results

UK smallcap opening - Judges Capital higher on positive update

STOCKWATCH Mitchells & Butlers higher on update; upped to 'buy' at KBC Peel HuntUK smallcap opening - Medic Vision hardens on positive update

UK smallcap opening - Asia Resources debut at 10-1/2 pence after Lin Shoon dealLondon shares open higher; TUI Travel gains after positive trading update UPDATEUK smallcap opening - TV Commerce resumes trading lower after H1 results

STOCKWATCH Alliance & Leicester falls on charges blow; Panmure Gordon 'hold'

BROKERWATCH Shell cut to 'accumulate' from 'buy' at KBCUK small caps open higher with Nostra Oil top riser on oil & gas find

Metals - Gold, platinum off record highs but outlook remains upbeat

STOCKWATCH Diageo, Pernod Ricard gain as US drinks data brings cheer

Metals - Gold, platinum come off record highs but outlook remains upbeat UPDATE

Metals - Copper turns higher with buoyant equities

Metals - Copper turns higher with buoyant equities UPDATELondon shares - mid-morning features

STOCKWATCH National Grid higher; Dresdner Kleinwort ups target to 835p from 740

WALL STREET OUTLOOK Higher open seen on rate-cut hopes; 3M reports earnings

STOCKWATCH Kazakhmys gains as Evolution Securities started as 'buy', tgt 1,475p

Metals - Gold hits new record high amid strong fundamentals, positive outlook

London shares - midday features

Midday Market Roundup

UK small caps stay higher at midday; Judges Capital top on FY numbers hopes

Precious Metals Summary - London AM Fixings

*ARVINMERITOR GAINS 8.4% FOLLOWING 1Q EARNINGS, OUTLOOK

London shares - midafternoon features

Metals - Base Metals sharply higher amid supply outages, equity mkt rebound

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Tuesday Feb 12

OUTLOOK Vodafone to report robust Q3 KPIs; FY upgrade possible on weak sterling

Metals - Gold, platinum fall as supply worries ease, safe haven flows dry up

End-of-day Market Roundup

UK small caps close on session high; Nostra Terra soars on oil, gas find