Hello traders!

In the US tonight, the DJIA fell 108.78 points to settle at 12,160.3, while the
S&P500 was down 9.21 points at 1,350.93 and the Nasdq Composite dropped
17.05 points to 2,457.73.

See you tomorrow with the latest..

G.

Good morning traders!

In Asia today, the Hang Seng moved in and out of negative territory and was last
down 0.1% at 23,034.19, while the Nikkei ended the morning up 0.4% at 14,405.77.

New York's main oil futures contract, light sweet crude for July delivery, dropped
65 cents to $133.36 per barrel.

Happy trading!

G.

Morning all. Market reports:

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

The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks. "A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.
RBS issues global stock and credit crash alert

Britain's lonely band of monetarists fear that the Bank of England will trigger a severe crunch if it overreacts to the inflation spike and keeps interest rates too high as the downturn gathers pace.
Britain's lonely monetarists fear Bank of England may trigger severe crunch

Investors have scaled back their expectations for interest rate rises at the fastest speed in 14 years after Meryvn King indicated that borrowing costs may remain on hold for some time.
Bank of England signals interest rates will be at 5pc for some time

Deutsche Bank has been privately scolded by the Financial Services Authority for advising clients to short rights issues at Britain's embattled banks to cash in on a collapse in their shares.
FSA angered by Deutsche Bank's 'crass' short selling advice

America's leading futures watchdog will for the first time impose checks on London's oil traders as part of a series of moves to end "excessive speculation" in the oil markets. The Commodity Futures Trading Commission has reached a deal with the UK's Financial Service Authority that will allow it to police West Texas Intermediate (WTI) oil contracts traded on London's ICE Futures Europe exchange.
American watchdog to impose checks on UK oil traders

Goldman Sachs has once more escaped the deteriorating financial market conditions relatively intact, as it beat analyst expectations in the second quarter to post a $2bn (1bn) profit, a day after rival Lehman Brothers confirmed its first quarterly loss as a public company.
Goldman Sachs defies credit crunch again with $2bn profit

Northern Rock is paying back its loans to the Bank of England much more quickly than expected, new analysis shows, though the rapid repayment could mean extra pain for the mortgage market and the economy.
Northern Rock pays back BoE loans faster than expected

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

09:30 UK BoE Minutes (consensus - confused)
12:00 US MBA Mortgage Applications
15:30 US DoE Oil, Gasoline Inventories

OUTLOOK J Sainsbury underlying sales growth seen slowing in Q1

Thomson Financial Europe AM at a glance share guide: Stocks mixed, oil slips

TFN UK calendar and forecasts for today

BROKERWATCH Smith & Nephew upped to 'buy' from 'neutral' at UBSLondon shares outlook - down as NY closes weak, ahead of BoE minutes

Tokyo shares close firmer on gains in high-tech stocks

BROKERWATCH Leisure companies cut in ABN Amro review, Rank Group upped to 'hold'Australian shares close higher, led by resources on robust China dataThomson Financial UK at a glance share guide

BROKERWATCH Credit Suisse shuffles UK real estate company ratings, target prices

Tokyo shares close firmer on gains in high-tech stocks - UPDATE

UK smallcap opening - Hartest rises as FY profits jumpAustralian shares close higher, led by resources on robust China data - UPDATE

UK smallcap opening - ViaLogy hardens on Atascosa Exploration agreement

UK smallcap opening - Getech advances on Russian marketing dealsLondon shares open lower ahead of BoE minutes; banks, J Sainsbury lower

UK smallcap opening - GCM Resources climbs as Morgan Stanley ups stake

UK smallcap opening - Celsis gains on record FY revenues & profits

UK smallcap opening - London Scottish Bank slides on fundraising talk

STOCKWATCH J Sainsbury down; Q1 sales fail to excite, trading still challengingUK smallcap opening - Braemar down on widening FY losses

London shares open lower ahead of BoE minutes; banks, J Sainsbury lower UPDATE

UK small caps open lower; London Scottish weak on cash-call talk

STOCKWATCH J Sainsbury down; Q1 sales fail to excite, trading challenging UPDATE

Metals - Gold steady near $885/oz on firmer dollar, inflation concerns

London shares - mid-morning features

UK small caps down at midday; Mwana Africa drops on plans to raise funds

Midday Market Roundup

Metals - Copper higher on Peru strike concerns

London shares - midday features

Precious Metals Summary - London AM Fixings

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Wednesday July 2

End-of-day Market Roundup