Morning all. Market reports:

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

Britain is at greater risk of losing its top-tier credit rating than any other major economy, according to leading agency Fitch. The warning, which coincided with news that the biggest devaluation in the pound since the 1930s has failed to stem the rising trade deficit, is the latest blow for the UK's economic credibility.
UK more at risk than other major economies of losing top credit rating

Chinese real estate figures out on Tuesday show investment in the sector was up 18.9 per cent in October, while property sales soared 48.4 per cent year-to-date. These sort of figures obviously reinforce fears in the market that an asset price bubble is growing in China.
More on that overheating Chinese property market

New democracies that embraced the free market are facing their deepest crisis after years of rapid growth.
Rude awakening for ex-communist countries as financial crisis made in west hits hardest in east

A looming glut in supplies of natural gas will trigger sliding prices and weaken Russias grip over Europes energy supplies, the International Energy Agency (IEA) said yesterday.
World gas glut will weaken Russian grip on Europe

The economic establishment accepts the world soon won't be able to meet energy demands, but wants to keep quiet about it.
Too fearful to publicise peak oil reality

A powerful Senate committee proposed the widest-ranging reforms to US banking regulation since the financial crisis, including stripping the Federal Reserve of many of its powers.
US Senate proposes to limit power of the Fed

European Commission competition regulators have opened an investigation into Thomson Reuters, the financial data provider, amid concerns that it is breaking monopoly abuse rules by locking customers into its services.
Brussels to investigate Reuters datafeed tool

Typically, the forex trading operations offering services (and reckless leverage) to retail punters have a relationship with a wholesale forex supplier - i.e. a big bank. The bank quotes commercial rates, derived from the professional global forex market. But playthedollarandwin.com, or whoever, control the rates they quote to their customers - otherwise known as counterparties. With access to information on all customers positions, the temptation to shake the tree with a little home-grown volatility must be enormous.
Have you been forexed?

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

SENSEX

Good morning traders!

In the US last night, the Dow closed up 20 points at 10,247, the Nasdaq lost 3
points at 2,151 and the S&P500 was flat at 1,093.

In Asia today, the Nikkei was down 4.19 points at 9,866.54, while the Hang Seng
ended the morning up 153.04 points at 22,421.2.

Crude oil traded at $79.08 a barrel on Nymex.

Happy trading!

G.

HSBA Daiwa: upgraded to outperform from underperform
SDR Jeffries: upgraded to hold from underperform, tp raised to 1280 from 950
SDR Morgan Stanley: overweight, tp raised to 1395 from 1295
SL. Morgan Stanley: upgraded to equalweight from underweight, tp raised to 260 from 211
TOMK Morgan Stanley: initiated overweight, tp 230
YELL Numis: upgraded to hold from reduce, tp reiterated 43

Upgrades from Credit Suisse on BLT and RIO I believe but no further details.

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