Hello traders!

In the US tonight, the Dow ended up 420.41 points at 12,392.66. The S&P 500
gained 54.10 points to 1,330.70, while the Nasdaq Composite added 91.25 points
at 2,268.26.

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

G.

Morning all. Market reports:

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

The Federal Reserve has cut interest rates by three-quarters of a point to their lowest level in more than three years as the central bank intensifies its fight against a deepening slowdown in the United States.
Rate cut by Fed prompts rally on Wall Street

The Federal Reserve's cautious 75 basis point cut in interest rates cut is both a sign of confidence and of concern about the threat of inflation, experts said last night as they digested the US central bank's interest rate decision.
Fed's rate cut sends a mixed message

As 'Helicopter Ben' Bernanke continues pouring dollars into the US system, David Litterick asks if he risks running out of ammo.
All aboard the Federal Reserve cash express

The Bank of England's latest special auction of three-month funding received the biggest demand yet as banks lined up for a liquidity injection amid panicky financial markets.
Scramble for funds as Bank of England auctions 10bn

The Bank of England is in an uncomfortable dilemma over whether to cut interest rates after figures showed that inflation is at its highest level since last May.
Bank's rate-cut dilemma as inflation rises

Soaring household energy bills sparked another sharp jump in inflation last month, worsening the Bank of Englands quandary over how to respond to conflicting pressures from rising price pressures and faltering growth.
Household energy bills forcing up inflation

The warning comes after several big insurers closed commercial property investment funds to withdrawals to prevent panicking small investors trying to pull out money.
Commercial property prices could fall by a further 15% after 'unprecedented' drop ends 14-year boom

The era of cut price mortgages is over, senior Treasury officials have said, as consumers were warned that the financial crisis will affect Britain for at least another year.
Financial crisis 'to last until 2009'

Investment banks Goldman Sachs and Lehman Brothers moved to calm fears of a systemic collapse in the banking system despite both taking write-downs of up to $2bn (990m) and reporting 50pc-plus falls in first-quarter profits.
Lehman and Goldman move to calm fears about liquidity

Wall Street expects Bear Stearns to fetch a higher price than the $236 million (116 million) takeover it agreed with JPMorgan over the weekend, prompting shares in the ailing US securities firm to soar yesterday.
Bear Stearns soars on hopes of better deal

Chinese banks have been ordered to set aside record levels of reserves after Wen Jiabao, the Prime Minister, admitted that he was deeply worried by the prospect of the US sub-prime meltdown spreading around the world.
China braced for US sub-prime backlash

The futures markets seem to be saying there is a strong likelihood that demand for oil will remain high for years to come.
The $100 barrel of crude oil is here to stay

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Hang Seng ended the morning up 584.58 points at 21,969.19,
while the Nikkei was up 296.28 points at 12,260.44 in late trading.

New York's main oil contract, light sweet crude for April delivery, dropped $1.06
to $108.36 a barrel, down from $109.42 Tuesday at the close of US trades.

Happy trading!

G.

OUTLOOK Next FY pretax profit seen up 4 pct but focus on current yearOUTLOOK Imperial Tobacco rights issue, German sales focus for trading statementOUTLOOK Kesa Electricals FY pretax profit seen flatTFN UK calendar and forecasts for todayAustralian shares close sharply higher as financial stocks soar - UPDATEThe Wednesday Press Roundup

*SMITHS FOCUS ON MARGIN IMPROVEMENT, TOP LINE GROWTH

*KESA TO FOCUS ON MARGIN OPTIMISATION AND COST CONTROL*ICAP SAYS REMAINS POSITIVE ABOUT OUTLOOK FOR THE BUSINESSLondon shares outlook - higher after US rally as Fed cuts rate, BoE minutes

BROKERWATCH BG Group upped to 'hold' from 'sell' at ING, target 1,268 pence

BROKERWATCH William Hill to 'overweight', Ladbrokes to 'neutral' at JP MorganThomson Financial UK at a glance share guide

BROKERWATCH AstraZeneca upped to 'overweight' vs 'neutral' at HSBC, tgt 2,100p

STOCKWATCH - China Mobile extends gains after better-than-expected 2007 profit

BROKERWATCH British Energy reduced to 'sell' from 'hold' by Dresdner KleinwortBROKERWATCH BP downgraded to 'hold' from 'buy' at ING, target cut to 624 pence

BROKERWATCH Catlin cut to 'neutral' from 'buy' by Goldman Sachs; target 520p

UK smallcap opening - Sefton Resources up on drilling update

London shares open higher after NY rally; financials gain, ICAP rises

BROKERWATCH Smiths Group reiterated as 'neutral' by Merrill LynchUK smallcap opening - Network Technology rises on Toshiba alliance

STOCKWATCH ICAP top riser, Merrill Lynch keeps 'neutral'

BROKERWATCH HBOS started as 'hold', Lloyds TSB as 'buy' by SG Securities

STOCKWATCH Next tumbles after trading caution; Landsbanki to review estimates

UK smallcap opening - ITM Power edges up on chairman's share buying