Hello traders!

In the US tonight, the DJIA ended at 11,288.54, up 73.03 points, while the S&P500
advanced 1.38 points to 1,262.9 and the Nasdaq Composite shed 6.08 points at
2,245.38.

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

G.

Good morning traders!

In Asia this morning, th Nikkei was recently down 0.3% at 13,224.53, while the
Hang Seng rose 234.55 points to 21,477.33.

New York's main oil futures contract, light sweet crude for August delivery, gained
7 cents to $145.36 a barrel from its record close of $145.29 on Thursday at the
New York Mercantile Exchange.

Happy Friday!

G.

Morning all. Market reports:

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

The US Treasury Secretary, Henry Paulson, signalled yesterday that the worst may soon be over for the American economy. global energy and food inflation, Mr Paulson nonetheless said: "We have a resilient economy, we have good productivity, we have good efficiency. I think there's a very strong possibility that we will be growing at the end of the year, we will have stronger growth at the end of the year than we have right now."
Paulson predicts US economy will pick up by end of the year

Britain is edging closer to recession, economists warned yesterday, after two bleak reports showed that activity in the country's vital services sector has slumped to its lowest level since 2001 and the credit squeeze on businesses is worsening.
Britain is edging closer to recession, economists warn

Alistair Darling dismissed speculation last night that Britain was poised for its first recession since the early 1990s as the growing threat to western economies was highlighted by a fresh surge in oil prices to within striking range of $150 a barrel.
Chancellor insists economy will grow, despite oil price nearing $150

Texas Pacific Group has walked away from a deal to inject cash into Bradford & Bingley, forcing the stricken bank to fall back on investors for an emergency cash injection. TPG decided just before 10pm yesterday evening to abandon its deal to buy 23pc of B&B for 179m after learning that the ratings agency Moody's was about to downgrade the bank for the second time in five weeks.
Banks bail out Bradford & Bingley after TPG walks away

Barratt Developments has joined the growing list of housebuilders cutting employee numbers as it struggles to cope with the effects of the credit crisis. The troubled housebuilder told staff yesterday that it was to cut 1,000 positions from its 6,700-strong workforce.
Barratt adds to housing sector woes by announcing 1,000 job losses

European Union politicians are mulling using an obscure treaty article to curb financial speculation, in an attempt to force down oil and food prices and counter the influence of hedge funds.
European politicians look to obscure article to curb speculators

Regulation of Britain's oil markets will come under political scrutiny later this month amid concerns that the spike in prices is being driven by speculators. News that the powerful Treasury Select Committee has called a hearing into the market's regulation for "mid-July" came as Brent crude rose above $145 a barrel in London - a new high - and Gordon Brown warned oil prices may keep climbing.
UK to examine oil market trading as prices soar

The former head of the brokerage firm Refco was sentenced yesterday to 16 years in prison for the $1.5bn (750m) fraud he engineered that ultimately destroyed the company.
British brokerage boss is jailed for 'depraved' fraud

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

VIX

11:00 EU German Factory Orders May (MoM consensus 0.008, YoY 0.02)

BROKERWATCH Marks & Spencer cut to 'sell' from 'buy' at Citigroup, tgt to 205pBROKERWATCH ITV cut to 'sell' from 'hold' at ABN Amro, target down to 35 penceThomson Financial UK at a glance share guide

UK smallcap opening - 1st Dental Laboratories down on H1 results warningTokyo shares close lower on rising oil prices; Nikkei down for 12th day

BROKERWATCH HBOS cut to 'sell' vs 'hold' at SG Securities, target to 230 pence

STOCKWATCH Kazakhmys higher; initiated as 'buy' at Goldman Sachs, target 2,033pUK smallcap opening - Sepura climbs on Tyco Electronics dealUK smallcap opening - Nord Anglia surges on agreed 460p a share Baring Asia bid

STOCKWATCH Bradford & Bingley shares plummet on enlarged rights issue newsSTOCKWATCH Kazakhmys higher; initiated as 'buy' at Goldman Sachs, target 2,033pBROKERWATCH HBOS cut to 'sell' vs 'hold' at SG Securities, target to 230 penceBROKERWATCH Marks & Spencer cut to 'sell' from 'buy' at Citigroup, tgt to 205pBROKERWATCH ITV cut to 'sell' from 'hold' at ABN Amro, target down to 35 penceTokyo shares close lower on rising oil prices; Nikkei down for 12th day - UPDATEUK smallcap opening - Sepura climbs on Tyco Electronics dealUK smallcap opening - Nord Anglia surges on agreed 460p a share Baring Asia bid

UK smallcap opening - Zamano slides on H1 EBITDA warning; Seymour downgrades

UK smallcap opening - Minorplanet adrift as bid talks terminated

STOCKWATCH Lloyds TSB tops risers as Cazenove sees positives; stays 'in-line'UK smallcap opening - Meridian Petroleum higher on new daily gas record

UK smallcap opening - TEP Exchange ticks up on swing to FY profits

BROKERWATCH Standard Life upgraded to 'hold' from 'sell' at Deutsche BankUK small caps open lower; 1st Dental drops on H1 profits warning

OUTLOOK Gloomy week ahead for UK housebuilders

STOCKWATCH c lower; price target cut to 468 pence vs 650 at Deutsche Bank

RPT STOCKWATCH Wolseley lower; target cut to 468 pence vs 650 at Deutsche Bank

OUTLOOK Gloomy week ahead for UK housebuilders

Metals - Gold steady near $930/oz as inflation fears offset firmer dollar

STOCKWATCH BSkyB falls as analysts see few synergies from Digital Plus dealLondon shares - mid-morning features

Metals - Copper eases on rising stockpiles, dollar strength; lead drops 4 pct

RPT Metals - Gold steady near $930/oz as inflation fears offset firmer dollar

OUTLOOK Credit crunch to hits support services cos, recruiters in particular

UK small caps at session low at midday; 1st Dental hard-hit by H1 profit warning

BROKERWATCH Gaming companies' growth expectations cut at Goldman Sachs

Midday Market Roundup

London shares - midday features

Precious Metals Summary - London AM Fixings

STOCKWATCH Sage Group higher as WestLB upgrades to 'add' from 'hold'

STOCKWATCH Morrison higher; upgraded to 'hold' from 'sell' by Shore Capital

STOCKWATCH Morrison higher; upped to 'hold' from 'sell' by Shore Capital UPDATE

OUTLOOK Britain's House of Lords to hear UK govt appeal against BAE probe ruling

London shares - midafternoon featuresLondon shares - midafternoon features

Metals - Gold steady near $930/oz as inflation fears offset firmer dollar UPDATE

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Friday July 18

End-of-day Market Roundup