Hello traders!

In the US tonight, the Dow was up 52.76 points at 12,646.79 heading into the
close, while the S&P500 was ahead 7.92 points at 1,398.76 and the Nasdaq
Composite gained 21.84 points at 2,508.54.

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

G.

Thomson Financial Europe AM at a glance share guide: Shares mixed; oil downTFN economic and business calendar to Thursday June 12

Morning all. Market reports:

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

Standard & Poors was attacked yesterday for its overoptimistic outlook for $34 billion of US mortgage bonds even after the ratings agency announced a series of downgrades.
Standard & Poor under fire for optimistic outlook

America's leading commodities regulator has launched an unprecedented investigation into possible market manipulation in the US crude oil market amid record prices which continue to cripple various parts of the global economy.
Oil prices to be probed by US regulator CFTC

Long-term private investors are pulling their money out of the eurozone at the fastest rate since the creation of the single currency, according to a report by the French bank BNP Paribas.
Euro suffering from 'reserve currency curse' as investors pull out

The decision of an anonymous group of 13 financial industry figures will get more attention than normal today when the British Bankers' Association announces changes designed to shore up confidence in its industry-standard inter-bank lending rate.
BBA fights to shore up confidence in Libor system

The authority responsible for the London Interbank Offered Rate is to rule on a proposed overhaul of the benchmark measurement as new criticisms surface about Libor's credibility.
Libor credibility questioned by Barclays strategist

The City's hopes of a cut in interest rates next week have been dampened after the largest majority of retailers for 16 years raised prices in May, the latest sign of mounting price pressures on the high street.
Hopes of bank rate cut fade as retail prices rise

The cost of borrowing wholesale money over two years has shot up to over 6pc, threatening to push fixed-rate mortgage deals sharply higher in the coming months. In the latest sign that traders are betting the credit crisis will last far longer than had been expected at first, two-year interest rate swaps rose by 14 basis points to 6.05pc yesterday.
Soaring wholesale borrowing cost threatens fixed-rate mortgages

Moody's has stamped a negative credit outlook on the UK banking sector, warning that it faces major challenges as the economy hits a downturn. Britain's banks face pressures from rising bad debts, lower lending volumes and falling profitability over the next 12 to 18 months, the credit rating agency says in a report today.
Moody's turns negative on UK bank sector

There was further pressure on the shares of Royal Bank of Scotland and Bradford & Bingley yesterday amid concern that investors would shun their rights issues.
Plunging bank share prices raise questions over take-up for cash calls

The price of a typical shopping basket of food has risen by almost 6 per cent since January and shoppers face even higher bills in the months ahead as companies are unable to absorb higher fuel costs.
Shoppers feel pinch as grocery bills rise - and theres worse to come

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

TFN UK calendar and forecasts for today

10:00 EU CPI May (consensus 3.5%)
10:00 EU Unemployment (consensus 7.1%)
13:30 US Personal Income (consensus 0.1%)
13:30 US Personal Spending (consensus 0.2%)
14:45 US Chicago Purchasing Manager May (consensus 48.5)
15:00 US Michigan Confidence May (consensus 59.5)

Oil prices fell over $4 Thursday, a day of wild price swings on the back of plummeting crude supplies, signs of a strong economy, and news the government is six months into an oil trading investigation.
Oil prices take a slide

London shares outlook - up, after Wall Street gains, InterContinental in focus

BROKERWATCH DSG upgraded to 'overweight' from 'equal-weight' at Morgan Stanley

BROKERWATCH Smith & Nephew upped to 'market perform' from Sanford Bernstein

Tokyo shares close higher on Wall St gains, softer yenThomson Financial UK at a glance share guide

Australian shares close lower, dragged down by BHP, oil stocks

First Day of Dealings

Tokyo shares close higher on Wall St gains, softer yen - UPDATEUK smallcap opening - Venteco down as FY losses widen

Good morning.

STOCKWATCH Land Securities lower; started as 'sell' at SG Secs, target 1,260p

UK smallcap opening - SDI adrift on cautious outlook

Australian shares close lower, dragged down by BHP, oil stocks - UPDATEUK smallcap opening - Wichford slides on swing to H1 lossesLondon shares open slightly lower as oils and miners fall

UK smallcap opening - Glen Group climbs as H1 losses narrow

STOCKWATCH SBM Offshore up on $700 mln order; Petercam to up target to 30 euros