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The Traders Thread - Friday 28th November (TRAD)     

Greystone - 27 Nov 2008 21:00

Greystone - 28 Nov 2008 06:23 - 2 of 32

Good morning traders!

In Asia today, the Hang Seng closed the morning up 299.44 points at 13,851.5,
while the Nikkei gained 138.88 points to 8,512.27.

US light crude for January delivery fell to $53.61 barrel.

Happy Friday!

G.

Kyoto - 28 Nov 2008 06:58 - 4 of 32

Morning all. Market reports:

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

A forum of top economists from banks and institutes across Europe have called for drastic cuts in interest rates to head off a slump in the eurozone, slamming the European Central Bank for reacting too slowly to the fast-moving crisis.
'Shadow ECB' calls for immediate and drastic rates cuts

Eurozone official interest rates are almost certain to be slashed again next week by at least half a percentage point after a survey on Thursday showed the region facing its worst downturn since the recession of the early 1990s.
ECB set to cut rates by 50bp or more

Opec will come under pressure tomorrow to cut production for the second time in as many months. The 13-nation cartel of oil producing countries meets in a hastily convened session in Cairo ahead of its scheduled meeting in Oran, Algeria on December 17. However, a number of Opec members, led by the second-and fifth-biggest, Iran and Venezuela, are pushing for more production cuts before then.
Iran and Venezuela to link up at Opec talks in drive to push oil price back to $100 a barrel

The downturn in the Chinese economy accelerated over the past month and could lead to high unemployment and social unrest, the countrys top economic planner warned on Thursday.
Chinese official warns on downturn

JosLuis Rodruez Zapatero, Spains Socialist prime minister, announced an extra 11bn ($14.2bn) of urgent government spending on infrastructure, the auto industry and other targets, as part of a multifaceted fiscal stimulus plan he called unprecedented in its magnitude.
Spain in further emergency stimulus

Tentative signs that the sharp declines in house prices and consumer confidence may be easing emerged yesterday, only to be dismissed by most analysts and observers.
Fall in house prices may be slowing, say analysts

JJB and JD, which both sell fashion sportswear, declined to comment, but it is understood that JDs management requested a meeting through a third party believed to be Investec, its investment banking adviser with Chris Ronnie, JJBs chief executive, earlier this week to discuss JDs stakebuilding in its rival.
JD Sports weighs up bidding for rival JJB

Deloitte revealed that it has hired Hilco the restructuring specialist that failed in its bid this week to buy Woolworths' 800-store retail chain for 1 to assist in the management of the high street chain. Hilco is expected to soon begin a huge stock clearance programme that will have a major impact on the retailer's rivals over the critical Christmas trading period.
Woolworths set for huge stock clearance

Independent pensions consultant John Ralfe estimated the scheme is likely to end up with a deficit of 250m more than double initial estimates leaving about 9,000 current and former staff reliant on the government's safety net, the Pension Protection Fund (PPF).
Woolworths pension deficit 'bigger than thought'

Full-time workers have seen their salaries increase by 21 per cent or 5,561, from 25,939 in 2003 to 31,500 today, according to the findings by Halifax
Average salaries rise to more than 31,000, survey shows

Politicians searching for historical precedents for the current financial turmoil should start looking a bit further back after an Oxford University historian discovered what he believes is the world's first credit crunch in 88BC.
Oxford University historian traces first credit crunch back to Roman republic

Kyoto - 28 Nov 2008 07:00 - 5 of 32

NIKKEI 225AUSTRALIA ASX200SHANGHAIHANG SENG
t?s=%5EN225t?s=%5EAXJOt?s=000001.SSt?s=%5EHSI
KOSPIVIX
t?s=%5EKS11t?s=%5EVIX

Kyoto - 28 Nov 2008 07:44 - 6 of 32

PRESS DIGEST - Ireland - Nov 28
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