Good morning traders!

In Japan today, the Nikkei was down 59.91 points at 10,032.28. The Hong
Kong markets are closed for Chinese New Year celebrations.

US markets will remain closed today for a public holiday.

Crude oil traded at $74.23 a barrel on Nymex.

Gold settled at $1,092 an ounce.

Happy Monday!

G.

AMEC Citigroup: upgraded to buy
BARC Citigroup: reiterated buy, tp raised to 420 from 413
GSK JPMorgan: upgraded to neutral from underweight, tp 1350
KGF Deutsche: reiterated buy, tp 350
LAM Citigroup: reiterated buy
LLOY Citigroup: reiterated buy, tp raised to 70 from 69
RBS Citigroup: upgraded to buy from hold, tp raised to 35.5 from 34
RIO Merrill: reiterated buy, tp 4800
RR. Citigroup: downgraded to hold from buy
RR. UBS: reiterated sell, tp raised to 400 from 360
WSM Citigroup: reiterated sell

Morning Kyoto. Thanks for the data.
Another week ahead and turmoil persists. Nothing changes.
It would be nice to see a positive jump in the markets as I'm fed up with all of the doom and gloom.

Opening Market Overview

I think Greece and Europe are hopeless. If they do a deal it will probably fall apart politically after a while because the voters won't stand for the austerity (Greece) and risk (Germany).

I'm fed up with the doom and gloom but that's the dish we've been served. What I really can't stand though are these journalists and bearish commentators dancing on the table in delight at the sight of Europe and the UK falling apart economically. I read the FT's Markets Live every day and they can barely disguise their glee. This is going to come down on all our heads eventually. I guess some people take more pleasure in seeing the destruction of things rather than the building of them.

I can just short everything and through necessity probably will if that's the way it's going to go, but I've realised lately I hate having these ringside seats every time the world descends into crisis, and I dispise the kind of people it brings out of the woodwork. Think I need a break :-)

I'm short a FTSE binary this morning. Hope I'm wrong. Otherwise I'm waiting until tomorrow to see if the EU can pull a rabbit out of their hat.

Kyoto, you might be right about your binary bet. 2 Way agree with you. They posted their Monday commentary as follows:
FTSE
Sell on rallies towards 5170 and target 5138. Stop above 5182.
OK they've had their stop hit already but they obviously think declines are still the order of the day.

End-of-day Market Overview