Hello traders!

In the US tonight, the DJIA finished at a three-month low of 12,029.06, down
131.24 points. The S&P500 dropped 13.12 points to 1,337.81 and the Nasdaq
Composite was off 28.02 points at 2,429.71.

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

G.

Good morning traders!

In Asia today, the Hang Seng ended morning down 432.69 points at 22,893.11,
while the Nikkei was recently down 375.65 points at 14,077.17.

New York's main oil futures contract, light sweet crude for July delivery, fell 61
cents to $136.07 a barrel after a jump of $2.67 to a close of $136.68 Wednesday
at the New York Mercantile Exchange.

Happy trading!

G.

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

Morning all. Market reports:

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

Sir John Gieve last night dramatically quit as Deputy Governor of the Bank of England after the Treasury radically overhauled the management at the Bank, effectively transforming his job overnight. In an embarrassment for the Treasury, Sir John confirmed the decision last night, releasing a statement during Alistair Darling's Mansion House speech.
Gieve quits as Darling unveils Bank shake-up

Families will see their standard of living stagnate this year while the value of their homes will fall further, the Bank of England Governor has warned. The coming months represent the biggest challenge for the economy for two decades, Mervyn King said, adding that some households will find them "particularly difficult".
Things will get worse, warns Bank of England governor Mervyn King

Former Bank of England governor Lord Eddie George has admitted that the Bank did not anticipate how "abnormally low interest rates" would lead to the complex marketplace precipitating the credit crisis.
Eddie George: Bank did not see risk of low interest rates

The group representing Britain's social housing industry is in talks with the Government to free 1 billion of public money to help to bail out the new homes market. The funds would be used to buy tens of thousands of mostly inner-city flats and family homes at a heavy discount from beleaguered housebuilders.
Britain's social housing industry suggests 1bn spree on empty stock

The rules, due to come into force at midnight tonight, have provoked widespread anger among hedge funds, many of which lost money in the wake of the FSAs statement of intent last week as short-sellers closed out their positions and company share prices rallied strongly.
Hedge fund lobby asks for more time to accommodate short-selling rules

Morgan Stanley yesterday became the latest financial services group to fall victim to a rogue trader as it admitted that it had suspended a credit trader in London for trying to hide losses of about $120 million (61.3 million).
Rogue London trader loses $120 million

The Financial Services Authority (FSA) said that it could veto American efforts to impose regulation on the London oil market, as the City took centre stage in an escalating row over the role of speculators in driving up the global price of crude oil. Stuart Fraser, the City of London's policy chief, described the call as American imperialism and rebutted attacks on the FSA in the US Congress as unhelpful".
FSA rejects 'American imperialism' in City oil market

The world's fund managers are pulling their money out of China and India at a record pace on mounting fears of inflation and are now more pessimistic about global equities than at any time in the past decade. The latest survey of investors by Merrill Lynch shows that Europe has become the most unpopular region, while Britain is still trapped in the doldrums.
China and India watch money flood out to America over inflation fears

In a little more than six months, the benchmark Shanghai composite index doubled, passing the 6,000 mark in October. Since then it has nosedived to less than half that level - yesterday closing at 2941. Many analysts believe it would have sunk further by now had the government not intervened. Small shareholders have been badly hit; some have lost their life savings. A few have even killed themselves in despair as their losses mounted.
Chinese discover first rule of investing - what goes up must come down

MEPs yesterday threw down the gauntlet to the 27 EU governments by voting for the break-up of energy groups as the sole way of freeing up gas and electricity markets.
MEPs vote for break-up of energy groups

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

TFN UK calendar and forecasts for today

09:30 UK Retail Sales May (MoM consensus -0.1%, YoY 4.1%)
13:30 US Initial Jobless Claims (consensus 375K)
13:30 US Continuing Claims (consensus 3139K)
15:00 US Philadelphia Fed June (consensus -10)
15:00 US Leading Indicators May (consensus 0%)

The Thursday Press Roundup

BROKERWATCH Pennon upped to 'overweight' by Morgan Stanley in utilities reviewLondon shares outlook - flat; oils, miners could offset falls on Wall St, Asia

Thomson Financial UK at a glance share guide

Tokyo shares close sharply lower led by financials

BROKERWATCH European Energy review at Goldman Sachs leads to four stock changesBROKERWATCH Four view changes in European Energy review at Goldman SachsAustralian shares close lower on credit woes, high fuel costs

STOCKWATCH Cadbury gains after trading update

STOCKWATCH Tiscali shares open sharply lower on reports Vodafone abandons bidTokyo shares close sharply lower led by financials - UPDATE

UK smallcap opening - Newport Networks dips after FY losses, dilution threat

Australian shares close lower on credit woes, high fuel costs - UPDATE

BROKERWATCH BG Group upgraded to 'outperform' by Sanford BernsteinLondon shares open flat as strength among oils offsets falls in NY, Asia

STOCKWATCH Sirius Exploration jumps on agreement to buy tungsten assets in ChinaSTOCKWATCH Ranbaxy drops 5.5 pct on patent settlement with Pfizer UPDATEUK smallcap opening - Loanmakers down on swing to FY losses

UK smallcap opening - Land of Leather slumps on 13.5 million placing move

BROKERWATCH Scottish & Southern kept as 'neutral' at JP Morgan; target 1,740pCORRECTION STOCKWATCH Sirius jumps on agreement to buy tungsten assets in ChinaUK smallcap opening - Meldex lower despite reassurances on fund raising

STOCKWATCH HBOS lower; trading update points to further housing market weakness

UK smallcap opening - Oxonica higher on update

STOCKWATCH Cadbury up after trading update; Panmure Gordon stays 'buy' UPDATE

UK smallcap opening - GW Pharmaceuticals rises as H1 losses narrow

BROKERWATCH Investec names BHP Billiton top sector pick, ups earnings forecast

UK small caps open lower; Newport Networks slumps on sales drop,contract worries

STOCKWATCH SBM Offshore outperforms on undervaluation, future opportunities

STOCKWATCH HBOS lower; trading update raises concerns over arrears trends UPDATE

JRVS 29 - 29.50p +1.50p

a very strong order book on the bid side 5 extra trades at the moment

There is resistance at 30.50p but the Symmetrical triangle breakout on the way UP posted yesterday, has an UPSIDE of 19p

Symmetrical trangle

STOCKWATCH Centrica higher after in line trading update; brokers positive

London shares - midmorning features

Metals - Gold steady near $890/oz; inflation concerns offset by firmer dollar

London shares - midday features

Midday Market Roundup

Precious Metals Summary - London AM Fixings

RPT UK small caps down at midday; Newport Networks stumbles on sales slump

STOCKWATCH BG adds to earlier gains as traders note rumours of bid

STOCKWATCH BG gains as traders note talk of Royal Dutch Shell bid UPDATE

STOCKWATCH Reed Elsevier higher; upped to 'outperform' vs 'in-line' at Cazenove

Metals - Copper continues higher on Peru strike concerns

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Thursday July 3

End-of-day Market Roundup