Hello traders!

In the US tonight, heading into the close, the DJIA was down 109.18 points at
11,533.29 with the S&P500 off 3.78 points at 1,285.81 and the Nasdaq
Composite 1.99 points lower at 2,428.62.

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

G.

Good morning traders!

In ASia today, the Nikkei was down 39.16 points at 12,983.89 at the midpoint,
while the Hang Seng ended the morning down 24.54 points at 21,268.78.

US crude was up by 91 cents to $116.91 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

Mounting fears of a full-fledged global recession have caused a profound shift in investor strategy over the last month, setting off a powerful dollar rebound and a flight to relative safety in US assets.
Big funds embrace dollar as crisis mutates into global slump

The pound has fallen to its weakest level in 12 years after the Bank of England signalled that it is no longer prepared to raise interest rates. Sterling dipped sharply against both the dollar and the euro after the Bank used its quarterly Inflation Report to slash its economic growth forecasts and predicted that inflation will dip back towards its 2pc target over the next two years.
Sterling slumps to 12-year low

The economy is now on the verge of recession, the Bank of England has warned for the first time. In his gravest assessment yet, Governor Mervyn King said the economy will start to shrink by the end of the year, the first decline since the early 1990s.
Mervyn King issues warning on economy

Tensions between the Treasury and the Bank of England mounted yesterday as Mervyn King, the Banks Governor, abruptly dismissed measures being considered by Alistair Darling to end the mortgage drought.
King opposes Treasury's liquidity plans

Alan Greenspan usually surrounds his opinions with caveats and convoluted clauses. But ask his view of the government's response to problems confronting mortgage giants Fannie Mae and Freddie Mac, and he offers one word: "Bad." "Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview.
Greenspan Sees Bottom In Housing, Criticizes Bailout

The fashionable investment tactic of the past month - buying bank stocks while selling energy companies - could already have gone too far, Merrill Lynch, the financial management group, warned clients yesterday.
Swing back to bank stocks is overdone, says Merrill Lynch

Merrill Lynch yesterday forecast that banks still need to raise 30bn in new capital to repair balance sheets shredded by the credit crunch and will be forced to write off a further 20bn in "toxic" assets.
Credit crunch: Barclays and HBOS tipped as next to raise more capital

A number of leading US regulators are close to agreeing a major settlement with at least three leading banks over their involvement in the selling of illiquid auction rate securities. The regulators, led by the US Securities and Exchange Commission and New York attorney general Andrew Cuomo, are understood to have agreed deals to buy back billions of dollars of the frozen securities with the banks, which stand accused of selling the assets under false pretences.
US regulators close to deal

U.S. regulators' emergency rule to restrict "naked" short selling in 19 major financial stocks had little impact and may have even backfired, two studies of the rule's effects showed on Wednesday.
SEC short selling rule made little impact: studies

Beleaguered investment bank UBS been left without an analyst to cover two of its FTSE 100 broking clients, Standard Life and Prudential. The bank, which announced a wide-ranging shake-up of its investment banking business on Tuesday, said yesterday it was ceasing to cover the life insurance sector.
UBS unable to cover life insurance clients after analyst retires

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

The Thursday Press Roundup

London shares outlook - Higher, rallying with commodity prices; U.S. CPI key

Thomson Financial UK at a glance share guide

Tokyo shares close lower led by real estate, financial stocks

BROKERWATCH Barclays downgraded to 'in-line' vs 'outperform' at Cazenove

BROKERWATCH Airlines reinstated at Credit Suisse as 'underperform'UK smallcap opening - Protherics gains on bid approaches; Seymour Pierce 'buy'UK smallcap opening - Frontera Resources down on drilling delay

London shares open higher, rallying with commodity prices; U.S. CPI key

UK smallcap opening - NetDimensions firms on swing to H1 profitsTokyo shares close lower, led by real estate, financial stocks - UPDATE

UK smallcap opening - EAG Ltd. advances on EAG INc.'s increased bid

UK smallcap opening - Enova Systems lower as Q2 losses widen

STOCKWATCH British Land higher with market despite fall in net asset value

UK small caps open firmer; Protherics surge on bid approaches

STOCKWATCH InBev lower following disappointing Q2

London shares open higher, rallying with commodity prices; U.S. CPI key UPDATE

STOCKWATCH UK miners rally; Merrill Lynch says UK miners look oversold

London shares - mid-morning features

STOCKWATCH Protherics soars on bid approaches; brokers mixed in views

BROKERWATCH Heineken cut to 'hold' from 'buy' at Dresdner Kleinwort

STOCKWATCH Wolseley lower after Morgan Stanley retains 'underweight'

London shares - midday features

UK small caps slightly higher at midday; Protherics soars on bid approaches

Midday Market Roundup

Precious Metals Summary - London AM Fixings

London shares - midafternoon features

Precious Metals Summary - London PM Fixings

End-of-day Market Roundup