Morning all. Market reports:

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

Greece has been warned by a top European Central Bank policymaker that it has a year to bring public finances back under control or risk having its bonds disqualified for use as collateral by banks borrowing ECB liquidity.
ECB warns Greece, eurozone weakens

Not to be outdone by its rivals at Fitch, who on Tuesday downgraded the sovereign rating of the Hellenic Republic of Greece, Standard & Poor's on Wednesday revised its outlook on the Kingdom of Spain to negative from stable.
S&P revises Spain's outlook to negative

The three global debt ratings agencies - which closely watch the UK's swelling debt mountain - stayed their hand, refraining from taking action to downgrade Britain's prized triple-A rating. Concern over Britain's deteriorating public finances pushed Standard & Poor's to change its outlook on the UK's credit rating to negative in May but, after the Chancellor's speech, the agency said it would maintain its stance until the next government set out its fiscal and spending plans.
Little to ease doubts on triple-A credit rating

Message for ratings agencies: is it not about time the UK went onto Outlook negative - why wait for the election?
UK PBR - recipe for a downgrade?

Japan has issued a huge downward revision to its latest quarterly growth figures, shattering hopes that the country can match the recoveries of other Asian economies and reinforcing fears of a prolonged battle with deflation.
Ridiculous revision of figures leaves Japanese recovery hopes in tatters

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

SENSEX

Good morning traders!

In the US last night, the Dow added 51 points at 10,337, the Nasdaq rose 11
points to 2,184 and the S&P500 was up 4 points at 1,096.

In Asia today, the Nikkei was down 123.38 points at 9,881.34, while the Hang
Seng ended the morning off 164.67 points at 21,577.09.

Crude oil traded at $70.81 a barrel on Nymex.

Gold settled at $1,126 an ounce.

Happy trading!

G.

End-of-day Market Overview