Morning all. Market reports:

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

UK markets rallied to a 12-month high, driven by growing confidence about the economic outlook and signs that interest rates will stay low for the next five years.
Pound plunges as UK markets rally to year high

Sterling at six month low, FTSE 100 at year high. Explain. One answer to that teaser could be that bouts of sterling weakness are often good news for the UK stock market.
Sterling and the UK stock market

PwC says the damage to the economy from the recession means fiscal tightening will need to be more aggressive.
Britain must raise taxes by 26bn a year to repair the economy, accountants warn

Britain is on the brink of emerging from recession but the recovery is "fraught with danger", says the British Chambers of Commerce (BCC).
UK economic recovery 'fraught with danger'

Interest rates will stay at rock bottom for some years as the government tackles its economic woes, according to the Centre for Economics and Business Research.
Interest rates set to stay low for five years

FT Alphaville heard a bit of talk on Monday about unusual call-option activity in the market for WTI crude. The figures do suggest that theres an incrementally larger open position in December options than any other near month.
Crude options

Comments by an analyst at Standard & Poors - which has warned before about Dubais finances - suggest the emirate is running out of cash, and fast.
Dubai, cash-crunched and scandal-hit

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

SENSEX

Good morning traders!

In the US last night, the Dow added 21 points at 9,886, while the S&P500 gained 5
points at 1,076 and the Nasdaq Composite ended unchanged at 2,139.

In Asia today, the Nikkei was up 92.58 points at 10,108.97, while the Hang Seng
ended the morning ahead 379.8 points at 21,679.15.

Crude oil traded at $72.87 a barrel on Nymex.

Happy trading!

G.

Twitter Updates
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WTB and BWY both beat consensus views say Reuters. UK inflation data at 0830 - CPI September seen +0.2% YoY +1.3% down from +1.6%. Intel after the US close.

Citigroup cuts food retail sector to underweight from neutral, cuts pharma sector to neutral from overweight, raises real estate to neutral from underweight, raises software sector to overweight from neutral.

ASC SocGen: initiated buy, tp 485
DPH Seymour: initiated buy, tp 515
IHG Goldman: tp raised to 800 from 650
MGGT UBS: reiterated buy, tp raised to 325 from 200
MLC Goldman: downgraded to neutral from buy, tp raised to 400 from 280
NWG Credit Suisse: downgraded to neutral from outperform, tp cut to 256 from 310
PNN Credit Suisse: downgraded to neutral from outperform, tp cut to 520 from 593
SRP Numis: buy, tp 577
SVT Credit Suisse: reiterated neutral, tp cut to 1045 from 1210
TATE Credit Suisse: upgraded to outperform from neutral, tp raised to 550 from 300
UU. Credit Suisse: reiterated outperform, tp cut to 550 from 593
VED Cazenove: hold
VTG UBS: downgraded to neutral from buy, tp raised to 600 from 550
WTB Goldman: tp raised to 1400 from 1350
WTB Merrill: buy, tp raised to 1425 from 1300
WTB Seymour: buy

Midday Market Overview

               LUNCH TIME FUN

'Naked' scanner in airport trial

A trial of a scanner that produces "naked" images of passengers has begun at Manchester Airport.

The authorities say it will speed up security checks by quickly revealing any concealed weapons or explosives.

But the full body scans will also show up breast enlargements, body piercings and a clear black-and-white outline of passengers' genitals.

The airport has stressed that the images are not pornographic and will be destroyed straight away.

                     

OIL prices

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End-of-day Market Overview