Hello traders!

In the US tonight, the DJIA closed down 65.03 points at 12,200.10, while the
S&P500 was off 10.19 points at 1,326.45 and the Nasdaq Composite shed 11.78
points to 2,297.79.

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

G.

Morning all. Market reports:

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

Hopes of aggressive interest rate cuts faded yesterday after two key surveys showed the UK economy holding up relatively well in the face of the global slowdown.
Surveys hit hopes of UK interest rate cuts

The quandary facing the Bank of England today over how to respond to growing fears of a recession in the United States and a global downturn is highlighted this morning by sharp divisions in The Times Monetary Policy Committee over how aggressively the Bank should react.
Times panel divisions betray problems facing Bank's MPC

The Bank of England is widely expected to cut the cost of borrowing costs for the second time in three months on Thursday at the end of its latest two-day meeting. Economists polled by Reuters were unanimous in expecting a quarter-point reduction in Bank rate, taking it to 5.25%.
Weak consumer data puts more pressure on Bank of England

The average family's mortgage burden has now equalled the peak it scaled during the last housing crash almost two decades ago, according to research by a key adviser to Gordon Brown.
Home loans pain 'worst since 1990'

The US Federal Reserve flexibility to cut interest rates has increased after the release of key data showing that inflation appears to be under control.
US rate cuts possible as inflation eases

A Northern Rock-style disaster would cause "chaos" if it happened in the Eurozone, the European Commissioner for Internal Markets admitted last night. In a speech to the Society of Business Economists, Charlie McCreevy warned that with 44 financial regulatory institutions on the Continent it was almost impossible to conceive of how they would unite to combat a potential Europe-wide bank run.
Northern Rock-style crisis 'would cause chaos in Eurozone'

Billionaire Warren Buffett has accused major investment banks of creating their own downfalls through the collapse in the US sub-prime mortgage market.
Warren Buffett blames banks for meltdown

Ben Bernanke, chairman of the US Federal Reserve, yesterday acknowledged that the bank is worried about the impact of an impending implosion of bond insurers on the US economy.
Fears for bond insurance market put Federal Reserve on red alert

China has the money and the motivation to mount a bid for Rio Tinto, but actually doing so would mark a U-turn in the recent going out strategy of the country's state-owned companies.
China's hunger for resources has banished any fears of rejection

Fears that the China Development Bank (CDB) may be poised to back a counterbid for Rio Tinto have sparked Japanese demands for a global rule book to control sovereign wealth funds (SWFs).
Japan calls for curbs on sovereign wealth funds

Listed property companies have failed to match the performance of the property they invest in or to do as well as commercial property funds over the last 17 years, according to recent figures from Investment Property Databank and the Association of Real Estate Funds (Aref).
Commercial property funds return less

Vulnerable regions of the world face the risk of famine over the next three years as rising energy costs spill over into a food crunch, according to US investment bank Goldman Sachs.
Why the price of 'peak oil' is famine

NIKKEI	AUSTRALIA

The Hang Seng and Shanghai markets are closed for Chinese New Year.

Good morning traders!

In Asia today, the Nikkei closed up 107.91 points at 13,207.15, while the
Hong Kong markets are closed for Chinese New Year.

New York's main oil futures contract, light sweet crude for delivery in March, was
22 cents lower at $86.92 a barrel.

Happy trading!

G.

London shares outlook - lower, caution ahead of BoE rate decision, earnings news

*BG SEES 'STRONG OUTLOOK FOR EARNINGS POTENTIAL' TO 2009BROKERWATCH Centrica upped to 'buy' vs 'hold' at Deutsche Bank, tgt 370p vs 340p

The Thursday Press Roundup

Thomson Financial UK at a glance share guide

BROKERWATCH Givaudan, Clariant cut to 'sell' in Goldman chemicals review

Tokyo shares close higher on bargain hunting - UPDATE

STOCKWATCH BT falls as FY disappoints, Global Services margins offer some cheer

UK smallcap opening - ViaLogy advances on US product approval

UK smallcap opening - Bateman Engineering lower as chief financial officer goes

London shares open lower; caution ahead of BoE rate decision; Yell down

STOCKWATCH Unilever gains as analysts cheer full-year results, guidanceUK smallcap opening - Central African Mining climbs on Prairie link-up

UK smallcap opening - Meridian Petroleum up on bid approachesUK smallcap opening - Corporate Services advances on Carlisle merger move

STOCKWATCH BG Group gains on forecast beating Q4 and dividendSTOCKWATCH Galp surges after BG says Brazil's Tupi could hold up to 30 bln boeSTOCKWATCH Rolls-Royce falls on share buyback disappointment; Merrill keeps buySTOCKWATCH InBev outperforms declining market; analysts mull Anheuser merger

UK smallcap opening - Titan Europe soars on confirmation of bid approach

London shares open lower; caution ahead of BoE rate decision; Yell down

STOCKWATCH Yell falls after it cuts revenue forecasts; Merrill cuts to 'neutral'