Morning all. Market reports:

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

Germany has triggered a near-panic flight from southern European debt markets by warning that there will be no EU bail-outs, even though it fears the region's economic crisis has turned dangerous and could prove "fatal" for the entire eurozone.
Funds flee Greece as Germany warns of "fatal" eurozone crisis

Greece's embattled prime minister, George Papandreou, has said his country must solve its deep-rooted budgetary problems itself, and warned that speculators were targeting Greece as the weak link in the eurozone.
No EU bailout for Greece as PM promises to 'put house in order'

Britain's banking industry was downgraded by the international credit rating agency, Standard & Poor's, as a result of the country's "weak economic environment" and the banks' "high" dependence on state support.
UK banks downgraded by credit rating agency

Ben Bernanke has been given a second four-year term as chairman of the US Federal Reserve after weeks of uncertainty over his tenure.
Ben Bernanke given second term as Fed chaiman

Good morning traders!

In the US last night, the Dow dropped 116 points at 10,120, the Nasdaq lost 42
points at 2,179 and the S&P500 fell 13 points at 1,085.

In Asia today, the Nikkei was last down 177.65 points at 10,236.64, while the
Hang Seng ended the morning off 158.18 points at 20,198.19.

Crude oil traded at $73.95 a barrel on Nymex.

Happy Friday!

G.

KOSPI	SENSEX
NYMEX CRUDE	GOLD	VIX

looks like we may be in for another rough day, especially the miners.[based on the fact RIO down AU$3.44].
Alex

Lots of sector upgrades from Goldman though:

AAL Goldman: reiterated neutral, tp raised to 3563 from 3337
ANTO Goldman: reiterated buy, tp raised to 1373 from 1234
BARC FBR: reiterated outperform, tp cut to 395 from 470
BVS KBC: sell, tp 365
CNE Citigroup: reiterated buy, tp reiterated 420
HOC Goldman: reiterated buy, tp cut to 449 from 468
KAZ Goldman: reiterated buy, tp raised to 2022 from 1983
LGEN Numis: buy, tp 125
LMI Goldman: reiterated neutral, tp raised to 2478 from 1902
RB. HSBC: upgraded to overweight from underweight
RRS Goldman: reiterated neutral, tp raised to 6076 from 6034
SSL RBS: initiated hold
TATE UBS: upgraded to neutral from sell
VED Goldman: reiterated buy, tp raised to 3772 from 3528
XTA Goldman: neutral, tp raised to 1400 from 1324

Happy Friday he says. Let's hope so, as I could do with a bit of market bounce for a change. Too much red over the last week - can we have some blue please?
TT

Opening Market Overview

I would like to see VED at 37 instead of 24 as it is at the mo. Think Goldman got it wrong.....

Short, medium or long term, VED usually do come back.

.

End-of-day Market Overview