Hello traders!

In the US tonight, the Dow Jones Industrial Average fell 220.9 points to 13,044,
while the S&P 500 fell 21.19 points to finish at 1,447.17 and the Nasdaq Composite
shed 42.65 points to close at 2,609.63.

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

G.

Morning all. Market reports:

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

Crude oil has touched the $100 milestone for the first time in history, as a host of commodities smashed through record levels. Analysts warned that inflation and high energy prices would remain a key threat on the economic agenda throughout 2008 as gold and platinum also hit record highs.
Crude oil gushes to historic $100 mark

Gold has soared through resistance to touch an all-time high of $861.20 an ounce in New York, surpassing the record last seen at the height of the inflation crisis in 1980.
Bullion outshines record from 1980

The growth of Britain's manufacturing sector slowed sharply during December, official figures revealed yesterday, increasing the chances that the Bank of England's Monetary Policy Committee will again cut interest rates when it meets next week.
Slowdown in factory orders fuels hopes of further rate cut

The pound's slide has gathered pace, pushing the UK currency to its weakest level in well over four years and to an all-time low against the euro.
Sterling slumps to four-year low against euro

The credit crunch appears to have eased a little as money market lending rates fell to their lowest level since the crisis began. The three-month London interbank offered rate (Libor) dropped 10.375 basis points to 5.89pc - just 39 basis points above the current base rate of 5.5pc.
Libor falls to lowest level since credit crunch

Fears of a property meltdown in Spain were renewed yesterday after shares in the country's second-biggest real estate firm, Colonial, were suspended. The company had lost 40 per cent of its value in two days and more than half of its board members, including its billionaire chairman, were forced to resign.
Spain fears property meltdown as Colonial value plummets by 40%

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

OUTLOOK Next kicks off Christmas updates with expected LFL sales declineAustralian shares close lower led by banks and resources - UPDATEAustralian shares close lower led by banks and resourcesTFN economic and business calendarThomson Financial Europe AM at a glance share guide: Stocks fall, oil surgesSTOCKWATCH - Air China, China Eastern plunge despite report of counter-bid

Good morning traders!

In Asia today, the Hang Seng ended the morning down 480.52 points 27,080.

New York's main oil contract, light sweet crude for February delivery, was 43 cents
lower at $99.19 dollars a barrel.

Happy trading!

G.

London shares outlook - shares set for modest bounce after Wednesday's sell-offTFN UK calendar and forecasts for today

BROKERWATCH Persimmon cut to 'neutral' at UBS in review of UK housebuilders

*NEXT SAYS OUTLOOK FOR 2008 'EXTREMELY CAUTIOUS'

BROKERWATCH BG Group cut to 'neutral' from 'buy' at UBS; target upped to 1,240pThe Thursday Press Roundup

Thomson Financial UK at a glance share guide

BROKERWATCH Aviva named 'top pick' for Q1 at Bernstein

Goldman Sachs have said this morning that they expect around a 4% rise in European stocks in 2008 - but not before we see a 10-15% drop from where we are at the moment...

Next (NXT) has say they are trading slightly ahead of expectations, but retail sales are lower and it's the Internet and Directory side of the business that are making things positive. Cantor are calling it unchanged. DSG International (DSGI) have brought forward their statement originally scheduled for January 16th to say that they are expecting pre-tax profits £40m-£50m below expectations. DSGI have made a desperate plea for an interest rate cut and Cantor are calling the shares down 20 at 87 on the profit warning.

BG Group (BG.) has been downgraded to neutral from buy at UBS, but the price target has been raised to 1240. Persimmon (PSN) has been downgraded to neutral from buy with a 779 target by UBS. Aviva (AV.) has been named a top pick for H1 by Bernstein.

Search software group Autonomy (AU.) say they have signed an expected $70m order from an unnamed major global bank in the area of compliance and regulatory solutions - maybe they can help the bank search for the horse which has bolted.

BATM (BVC) are trading ahead of market expectations according to a statement, but that's about the limit of what they've given away. Troubled Erinaceous Group (ERG) and Regis have agreed to stop suing each other.

FTSE is currently being called flat by CMC. Dow futures are currently being called up 40 at 13,083 after their 220 point fall yesterday.

BROKERWATCH Alliance & Leicester upped to 'neutral' from 'sell' at Merrill Lynch

UK smallcap opening - John Lewis of Hungerford up on FY results, upbeat outlookUK smallcap opening - Island Oil & Gas jumps; Bluewater exercises farm-in option

UK smallcap opening - Tertiary Mineral gains on positive drilling update

STOCKWATCH DSG International crashes 17 pct on FY profit warningUK smallcap opening - Acambis up as vaccine trials show positive results

STOCKWATCH Next down on new year caution; Seymour Pierce stays 'underperform'UK smallcap opening - BATM jumps, sees FY results ahead of market expectations

STOCKWATCH BT Group shares rise; Citigroup reiterates 'buy', 360 pence targetUK smallcap opening - Max Petroleum up over 5 pct as announces new CEOFTSE opens modestly higher

BROKERWATCH Marks & Spencer upgraded to 'buy' from 'hold' at Panmure GordonUK smallcap opening - LSL Property drops on impairment charge, challenging 2008

UK smallcap opening - CRH higher on upbeat FY trading update, buyback news