Good morning traders!

In the US last night, the Dow was up 19 points at 8,741 with the Nasdaq 8 points
higher at 1,822 and the S&P500 up 2 points at 945.

In Asia today, the Nikkei was up 60.7 points at 9,765.01 and the Hang Seng
ended the morning up 419.69 points at 18,808.77.

Crude oil traded at $68.65 a barrel on Nymex.

Happy trading!

G.

Morning all. Market reports:

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

There was fresh evidence on Tuesday that the UK housing market has turned a corner. Data showed residential construction almost stopped declining in May and business expectations in the sector were the highest since August 2007.
Record jump for housing construction

Lending to British companies and individuals fell during April, data published yesterday revealed, suggesting that the Bank of Englands programme of quantitative easing may have had little impact to date.
Lending to companies falls and puts dent in Banks moves to boost economy

A leading building society commentator reckons that at least five mutuals will fail within 12 months and 15 will be forced to merge.
'Five building societies to fail within a year'

Who is going to come out of the economic crisis stronger and with the whip hand - China or America, asks Niall Ferguson.
The trillion dollar question: China or America?

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

BP. JPMorgan: overweight, tp raised to 610 from 600
BWNG Goldman: upgraded to neutral from sell
DRX Morgan Stanley: upgraded to equalweight
KGF ING: reiterated buy, tp raised to 220 from 210
KGP Goldman: downgraded to neutral from buy
LSE Goldman: upgraded to conviction buy, tp 1000
MSLH Goldman: upgraded to buy from neutral
OPTS Goldman: upgraded to buy from neutral
RDSA JPMorgan: upgraded to neutral from underweight, tp raised to 1940 from 1900
SHI Goldman: upgraded to buy from neutral
UMC UBS: upgraded to buy from neutral

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End-of-day Market Overview