A Brief Look At The Week Ahead

With little in the way of numbers from the majors this week, it will be left for the ongoing stories from last week to point the direction. The mining sector will remain in focus with stubborn rumours that BHP Billiton is facing a counter-bid for Rio Tinto. However unlikely it seems, it is worth keeping an eye on developments. With investor interest in these companies stretching from the US to Australia, it is a good idea to keep tabs on both early and late news flow. The fall-out from the approaches for all (or parts) of Northern Rock's business will take up a few column inches. Stories that the BoE support for the bank could go on indefinitely will raise a few eyebrows. Scottish & Newcastle seems more determined than ever to fight off the overtures of Carlsberg and Heineken. The S&N trading statement slated for Tuesday will need to show some strength if investors are to be persuaded that independence is the best option for them. Also on the cards this week are numbers from easyJet (Tuesday) and from Kesa Electricals and Morrison Supermarkets on Thursday. Hope you find some cherries worth picking. Good hunting! Greystone Thanks, as always to Supermum, Kyoto and Digger for their invaluable input to the Traders Thread (Greystone is Alan English, City Editor at MoneyAM.)

Friday's market reports:

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

Goldman Sachs has sent a shudder through the debt markets, warning that sub-prime mortgage losses could force banks to slash lending by $2,000bn (980bn) and push the United States into a deep recession.
Goldman warns of a substantial US recession

Nervous Western governments are looking to Saudia Arabia where the organisation's leaders meet today.
The oil world in their hands

Talk of 'soft landings' or a 'happy handover' of growth from America typifies end-of-bull-market wishful thinking, says Tom Stevenson
An economy on the brink of snapping

Among the winner of the volatility are the 'hedgies' - but not everyone thinks they are playing fair. Helen Power investigates
Hedge funds not selling themselves short

Critics say that hedge funds are responsible for exaggerating the movements of share prices, which can distract management and put a brake on decision-making. While there is nothing illegal about the practice - enthusiasts point out that short-selling adds to liquidity in the market - some have been sailing close to the wind. One analyst says: 'The problem comes when speculators spread rumours that lead to exponential falls in a company's share price, enabling them to collect even more money. Peddling malicious gossip for financial gain is tantamount to market abuse, but, like insider dealing, it is difficult to prove.'
Beware naked short-sellers streaking into the bank

The boss is bullish about Barclays Capital's exposure to 'toxic loans' and predicts a rosy future, but the City doesn't share his optimism, writes Heather Connon
Investors take the shine off BarCap's Diamond

Do high oil prices matter? Isn't the world now less dependent on oil? You'd think so, if you listened to conventional wisdom.
We face a crude awakening over oil prices

The world's largest oil producer could soon find itself over a barrel, reports Tim Webb in the Gulf
Can Saudi square the oil circle?

Credit jitters are beginning to hit heavily indebted companies snapped up by private equity at the height of the buyout frenzy.
Property fears send price of debt plummeting

BRITAINs economy could be heading for its worst year for 15 years, analysts warn. They say growth in 2008 could be weaker than at any time since the long upturn began in 1992.
UK heads for worst growth in 15 years

Leading analysts are warning that the stock market will run out of steam next year and say that its time to bank those profits, writes Kathryn Cooper
Quit shares for cash, investors told

I'm off to Seoul for a couple of days so probably no more postings from me until Wednesday. I'm afraid this means I (i.e. my computer) won't be posting any news links here Monday and Tuesday. Sorry to anyone who reads them - if anyone does :-) Good luck everyone with the trading in the meantime.

I for one will miss your reports but enjoy your stay i hope you miss the rain ///but enjoy the food/

Here here, have a good one K.

One for the UPS

EEL - Mid 10.875p (10.75 - 11p)

Reason - News last Friday of Peak Petroleum had signed a memorandum of Understanding with FLEX LNG Ltd.for the joint development of the Bilabri gas field, where EEL has a 12.50% should be good news for the shares languising at the bottom

One for the UPS

MXP - Mid 85.75p

Reason - Have lost 30% since returning from suspension just short of 3 weeks ago, after ousting its chief executive, now rumours are that Roger Tucker, the former Yukos Oil managing director is thought to be poised to filled the vacant position

Good morning traders!

In Asia today, the Hang Seng was recently down 241.6 points at 27,373, while
the Nikkei closed the session down 112.05 points at 15,042.56.

Crude oil for December delivery added as much as 61 cents to $94.45 a barrel in
electronic trading, after climbing $1.67 to $95.10 a barrel on the New York
Mercantile Exchange Friday.

Happy trading!

G.

Midday Market Roundup

So where's everyone off too if this site were to fold then? hope it doesn't may I add.

End-of-day Market Roundup

Stan - I'm sure we're here to stay... :)

I'll take your word for it then G -):