Morning all. Market reports:

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

David Blanchflower, the former Bank of England policymaker, has accused Mervyn King of keeping "vital" information from him at the height of the financial crisis. Professor Blanchflower, a member of the Monetary Policy Committee (MPC) until May this year, said he did not know about the 61.6bn in emergency loans granted to Royal Bank of Scotland and HBOS last autumn until the Bank's Governor revealed them last week.
BoE Governor Mervyn King kept me in dark on economy, says David Blanchflower

Bonds in the company, which owns some of Dubais most ambitious projects as well as stakes in Merlin Entertainments and Sony, have slumped in value and are trading at just over 55 cents in the dollar, reflecting a lack of confidence that the debt will be repaid in its current form.
City traders bet against Dubai Holding repaying its debts

According to CB Richard Ellis (CBRE), the property agent, 27pc of the 280bn of debt outstanding on UK commercial property should be identified as problematic. Most of these loans were issued in 2006 and 2007 - the height of the boom - and are backed by properties that are unlikely to rise significantly in value and will be difficult to re-let if they become vacant.
Banks warned over 79bn of 'poor quality' property debts

Thats the surprising conclusion of the latest Popular Delusions note from Soc Gen strategist Dylan Grice. He has been using an updated version of Ben Grahams Appraisal Method, to identify stocks worth at least 50 per cent more than their market value. It has thrown up just 11 names, which suggests the market is pricey, according to Grice. But three of the companies on the list are British: Aviva, AstraZeneca and Standard Chartered -leading Grice to conclude that the UK is the only market trading below its intrinsic value.
Bargain Britain

European economies have seen the worst of the recession off, although they face a "very shallow recovery next year," credit ratings agency Standard & Poor's warned on Wednesday.
Standard & Poor's predicts weak EU economic recovery

The Chinese authorities have given the clearest indication to date that they view the surge in gold to an all-time high of $1,217 (730) an ounce as a speculative frenzy.
China wary of gold 'bubble danger after quietly doubling its reserves

Halifax Bank of Scotland was finished before its takeover last year, a director of the company that swallowed up the ailing institution has confirmed. Archie Kane, of Lloyds Banking Group, said HBOS effectively shut down to business customers in 2008 as the banking crisis intensified.
HBOS was 'finished' before Lloyds takeover

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

SENSEX

Good morning trader!

In the US last night, the Dow closed down 19 points at 10,453, the Nasdaq added
9 points at 2,185 and the S&P500 was flat at 1,109.

In Asia today, the Nikkei was up 329.22 points at 9,938.16, while the Hang Seng
ended the morning ahead 137.45 points at 22,427.02.

Crude oil traded at $76.90 a barrel on Nymex.

Gold settled at $1,218 an ounce.

Happy trading!

G.

End-of-day Market Overview

Sorry the market summary is not available tonight.

G.