Hello traders!

In the US tonight, the Dow Jones Industrial Average fell 109.74 points to end at
12,422.86. The S&P 500 fell 11.86 points to 1,341.13, while the Nasdaq Composite
shed 16.69 points to 2,324.36.

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

European Central Bank chief Jean-Claude Trichet warned that global markets were in the midst of a major correction which recalled the 1997-98 Asian financial crisis and the first global oil shock.
Worst may be yet to come, warns European Central Bank chief

US Treasury Secretary Henry Paulson has revealed his department is working on a "blueprint for regulatory reform" in an effort to avert further market turmoil in the wake of investment bank Bear Stearns' collapse.
US Treasury plans banking reform after turmoil

The Bank of England Governor has promised to work with banks to find a lasting solution for the credit crunch after London interbank borrowing rates broke the 6pc barrier for the first time since December.
Mervyn King pledges to help banks fight crisis

The Bank of Englands Governor paved the way yesterday for it to take more radical steps to ease mounting financial stresses on British banks as he admitted that the credit squeeze had entered a new and difficult phase.
Mervyn King offers little comfort as squeeze enters 'a new phase'

In his testimony to the Treasury Select Committee, the Bank of England Governor said, variously, that the banks must be the ones to pay the price for the risky lending which led to the credit crunch; that those running financial institutions were guilty of hubris and that another financial crisis would follow once their collective memory faded.
Hubris brought crisis, says Mervyn King

MPs, lawyers and bankers 'amazed' by catalogue of blunders as the FSA admits its failings in handling of Northern Rock.
Regulator that missed bank's collapse

A group of six financial institutions including the Royal Bank of Scotland are facing a lawsuit demanding they press ahead with a $26bn (13bn) private equity buyout of the US media company Clear Channel.
Clear Channel sues banks over 13bn deal

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Nikkei closed down 102.05 points at 12,604.58, while the Hang
Seng ended the morning 88.65 points higher at 22,705.66.

New York's main oil contract, light sweet crude for May delivery rose 43 cents to
$106.33 dollars a barrel.

Happy trading!

G.

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UK smallcap opening - Ardana rebounds on bid approaches

STOCKWATCH Compass higher after trading statement ahead of co's expectations

STOCKWATCH Sodexo climbs, buoyed by strong trading update from Compass

UK smallcap opening - Allied Gold up as Barrick injects capital

STOCKWATCH 3i Group higher as pre-close update reassures

UK smallcap opening - Xploite lower as possible offer talks cease

STOCKWATCH Sodexo climbs, buoyed by strong trading update from Compass UPDATE

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Metals - Gold comes off one week high as dollar steadies

CORRECTION STOCKWATCH Eramet up on bid speculation after Vale drops Xstrata bid

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Metals - Gold comes off one week high as dollar steadies UPDATE

BROKERWATCH Safran, Zodiac, others cut, Finmeccanica upped in Exane sector note