A Brief Look At The Week Ahead

The week is likely to be overshadowed by Alistair Darling's first budget presentation, although few are expecting any big surprises. From the City's point of view, it will be eager to see if the Government has re-thought its proposed treatment of "non-doms". There is a mixed bag of companies reporting numbers this week, with the highlight Sir Ken Morrison's final presentation as head of the supermarket chain that bears his name. There is wide talk of a major cash handback - with figures ranging from 500m to 1bn mooted - as Sir Ken's farewell gift to shareholders. Everyone is expecting top-end results. The share reaction will, no doubt, depend heavily on what tone any outlook statement adopts. Others to look out for this week include Antofagasta, AMEC and Friends Provident (Tuesday), Tullow Oil (Wednesday) and Prudential (Friday). Enough there to keep us all busy! Greystone Thanks, as always to Supermum, Kyoto and Digger for their invaluable input to The Traders Thread. (Greystone is Alan English, City Editor at MoneyAM.)

Evening all. Off to Seoul again tomorrow - business at the Skittish Embassy - so might not be around depending on how long things take. Friday's market reports:

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

Saturday

The global credit crisis plunged to new depths yesterday as persistent fears over the collapse of a large financial institution caused funding markets to dry up and forced the US Federal Reserve to make available up to $200 billion (99.3 billion) of emergency financing.
US Fed releases $200bn as credit crisis hits new depths

The Federal Reserve has again been forced to step in to alleviate extreme stress in the US credit markets, pledging $200bn (100bn) of emergency liquidity for the banking system.
US Fed pins economic hopes on $200bn liquidity boost

Employers in the United States cut 63,000 jobs last month, the most for five years, prompting Wall Street economists to say that the workforce was experiencing meltdown.
Job cuts shock prompts analysts to say that US workforce in 'meltdown'

One of the great myths about Freddie Mac and Fannie Mae, the mortgage bond issuers and guarantors, is that the United States Government will bail them out if they get into real trouble.
Freddie and Fannie myth starts to evaporate

Stan O'Neal and Charles Prince were forced to defend themselves against allegations that they greedily enriched themselves even as their shareholders were forced to bear the collapse of investments as their banks wrote off billions of dollars of sub-prime losses.
US Congress opens fire on banking 'fat cats'

Toshihiko Fukui ended his career as Governor of the Bank of Japan yesterday by downgrading the growth prospects for the world's second-biggest economy and admitting that his dream of normalising Japanese interest rates had stalled.
Governor of Bank of Japan closes out his tenure with gloomy forecast

What a difference a year makes. Twelve months ago companies were under pressure from investors to take on debt and gear up their balance sheets. Fast-forward to 2008 and investors are fleeing stocks with high debt levels.
Fickle investors shun debt-laden stocks

Some things have changed little in the past 19 years, with Kylie and Madonna both still topping the charts, as they did back in 1989. Now homeowners are growing increasingly concerned that a much more frightening similarity may emerge between 1989 and 2008 - a house price crash.
Pressure on homebuyers raises memories of the price crash 19 years ago

In the guidance, the City's regulator indicated to the scores of company directors who are planning share sales in order to avoid the capital gains tax (CGT) rise that it expects them to explain their actions to shareholders. A spokeswoman said: "What we don't want to see is a private investor seeing in the middle of March a lot of director share sales and say 'What is going on? Is the market going to crash?'"
FSA embroiled in Darling's CGT hike

Sunday

AMERICAs economy is definitely in recession, economists say, amid growing fears that the credit crunch is entering its most dangerous phase.
Britain shivers as US hits recession

Alistair Darling will use his first Budget on Wednesday to announce a package of up to 5bn of tax rises, designed to plug the black hole in the public finances once the worst of the global credit crisis is over.
Darling will raise taxes to plug hole in finances

Are British housebuilders heading for the abyss? As mortgage approvals dry up, house prices fall and repossessions rise, many of the country's biggest builders appear more vulnerable than at any time in the past 15 years.
Housebuilders in a hole as prices go through the floor

Europe's biggest banks could be forced to more than double their write-downs and take a further $68bn (34bn) hit as the credit crisis enters a "new phase", according to City analysts.
European banks face $68bn more write-offs

Soaring costs will wipe out some food makers' profits, says Tom Stevenson - but others will fare better.
High commodity prices are hard to swallow

Good morning traders!

In Asia today, the Nikkei ended down 250.67 points at 12,532.13, while the Hang
Seng closed the morning down 342.29 points at 22,159.04.

New York's main oil contract, light sweet crude for April delivery, fell 24 cents to
$104.91 from Friday's close of $105.15 in New York.

Happy trading!

G.

OUTLOOK BMW FY pretax 3.81 bln eur, well above co's target on higher car salesLondon shares outlook - lower, ahead of UK Budget Wednesday, US recession fearsThe Monday Press Roundup

BROKERWATCH Compass Group downgraded to 'sell' vs 'neutral' at Goldman SachsThomson Financial UK at a glance share guide

OUTLOOK Intel faces off with EU regulators, competitors at hearing over chip ops

BROKERWATCH Alliance & Leicester cut; HSBC upped by KBW in banking sector review

UK smallcap opening - Fulcrum Pharma ticks up on new CEO appointment

UK smallcap opening - Pan African firm on Manica resource increase

STOCKWATCH Bovis Homes drops on FY & weak outlook; Cazenove repeats 'in-line'London shares open weaker; ahead of UK budget Wednesday; commodity stocks lower

UK smallcap opening - ReGen Therapeutics rises on Golgi deal

UK smallcap opening - Newport Networks advances afresh on OEM deal

UK smallcap opening - Advanced Medical lifted ahead of FY results

STOCKWATCH MOL up on 1.3 bln usd Oman Oil stake deal

UK smallcap opening - Volex falls on H2 profit warning

London shares open lower; ahead of UK budget Wed; commodity stocks down UPDATE

UK small caps open lower; Volex hard-hit on H2 profit warning

OUTLOOK Home Retail Group Q4 trading update to focus on outlook for 2008

Metals - Gold edges up as dollar remains weak on concerns over US economy

STOCKWATCH Imperial Tobacco higher after disposal of 49.95 pct stake in Aldeasa

OUTLOOK Home Retail Group Q4 trading update to focus on outlook for 2008

Metals - Copper eases on slowing Chinese import fears

One for the "UPS"

RNVO 55.75 - 56.25p
REASON : Fallen last week by 60% after phase II Juvista met its primary endpoint in a scar revision trial but missed the endpoint in a breast augmentation trial. Shire has place a lot of money into those trials so if share price does not improve a bid could be a solution

WALL STREET OUTLOOK Flat open seen amid ongoing economic jittersLondon shares - midmorning features

Metals - Gold edges down, but well supported on concerns over US economy UPDATE

Metals - Copper eases on slowing Chinese import fears UPDATE

STOCKWATCH D1 Oils extends losses on review news; Dresdner Kleinwort cuts target

RNVO 56.75 - 68p +2.75p

is now well on the move up

---------------------- Intraday ----------------------------------------------- 5 days chart ----------------

STOCKWATCH Dana Petroleum lower as ABN Amro cuts output forecast, tgt 1,405pUK small caps fall further at midday; Volex stays down on H2 profit warning

London shares - midday features

Precious Metals Summary - London AM Fixings

Midday Market Roundup

Metals - Gold weakens as players take profits to cover other asset losses

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Monday March 24

Metals - Copper slips on lower Chinese demand, gloomy US economic outlook

End-of-day Market Roundup