Hello traders!

In the US tonight, the Dow was up 40.3 points at 11,656.07 with the S&P500
ahead 4.3 points at 1,289.19 and the Nasdaq Composite 28.54 points better at
2,378.37.

Crude for September delivery ended down 59 cents at $118.58, after news of an
unexpected increase in last week's US inventories.

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

G.

Good morning traders!

In Asia today, the Nikkei reached the midpoint down 161.00 points at 13,093.89,
while the Hang Seng added 129.76 points to end the morning at 22,079.51.

US crude rose 26 cents to $118.84 a 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 dilemma facing the Bank of England's Monetary Policy Committee as it sits down for its monthly meeting on interest rates was brought into sharp relief today by fresh data showing that the cost of food is still spiralling while the economy is slowing faster than official estimates suggest.
Food price spike adds to Bank of England's dilemma on interest rates

It said the British economy would grow by just 1.4pc this year and 1.1pc in 2009 which would be the slowest rate of growth since 1992. "We do not have a negative number for growth forecast in coming quarters, but when growth is skating so close to zero, it doesn't take much of a shock to see it turn negative," said Ajai Chopra, deputy director at the IMF.
IMF warns that UK is on the brink of recession

Citigroup is in talks over a $5bn (2.5bn) legal settlement to claims that it fraudulently foisted auction rate securities on thousands of its savers in one of the biggest mis-selling scandals of the credit crisis.
Citigroup seeks $5bn deal to end mis-selling scandal

The worlds biggest banks are proposing dramatic revisions to the securitisation and derivatives industries under reforms outlined in a study headed by Gerald Corrigan, ex-NY Fed chief and managing director at Goldman Sachs. The study contains numerous proposals aimed at curbing excessive risk-taking at financial institutions, including support for accounting reforms and devising new criteria for sophisticated investors.
US banks urge sweeping market reforms

American mortgage giant Freddie Mac has warned that the US is only halfway into its current downturn, as it slumped into the red on the back of $3.5bn (1.75bn) of writedowns and credit losses.
Freddie Mac rings alarm bell after $821m dip into red

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

The Thursday Press Roundup

London shares outlook - lower ahead of BoE rate decision, Barclays numbers

Tokyo shares close lower on poor economic outlook; banks lead fall

Thomson Financial UK at a glance share guide

UK smallcap opening - Quadrise Fuels edges up on agreement updateTokyo shares close lower on poor economic outlook; banks lead fall - UPDATE

BROKERWATCH Dana Petroleum upped to 'buy' in Goldman Sachs E&P review

STOCKWATCH Hammerson fall after uninspiring H1; Citigroup remains cautiousUK smallcap opening - QuestAir runs back on sales warning

London shares open down; Friends Provident, Barclays fall; BoE rate decision due

UK smallcap opening - Fiberweb higher on swing to H1 profitUK smallcap opening - Environmental Recycling down on share price statement

UK smallcap opening - Pan Andean gains on Texas drilling news

STOCKWATCH Friends Provident drops on H1 profits; Cazenove stays 'outperform'

STOCKWATCH Ladbrokes falls post H1; Deutsche Bank cuts to 'hold' from 'buy'

UK small caps open lower; Environmental Recycling down on share price statement

London shares open down, hit by weak earnings news, ahead of BoE meeting UPDATE

STOCKWATCH Hammerson falls post H1; downgraded to 'hold' at KBC Peel Hunt UPDATE

STOCKWATCH Barclays soars as H1 results meet top end of hopes; brokers cautious

London shares - mid-morning features

STOCKWATCH Barclays soars on top-end H1 results; KBW 'market perform' UPDATE

STOCKWATCH International Power falls; H1 profits up; Brokers stay 'buy'

STOCKWATCH RSA Insurance Group higher after H1 profits beat forecasts

Thomson Financial News at a Glance - UK, European broker recommendations

UK small caps turn higher at midday; Fiberweb gains on swing to H1 profit

London shares - midday features

Midday Market Roundup

Precious Metals Summary - London AM Fixings

OUTLOOK Royal Bank of Scotland set to announce 6 billion pounds of write-offs

*OFT ACCEPTS HOME RETAIL GROUP'S UNDERTAKINGS RE PURCHASE OF 27 FOCUS STORES

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

End-of-day Market Roundup