Good morning traders!

In Asia today, the Nikkei was recently up 235.14 points at 14,576.26, while the
Hang Seng was up 195.33 points at 24,450.62.

New York's main oil futures contract, light sweet crude for July delivery, rose 31
cents to $128.10 a barrel.

Happy Friday!

G.

Morning all. Market reports:

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

There were fears yesterday that the Bank of England could raise interest rates after the European Central Bank issued a surprise warning that surging inflation could force it to lift eurozone rates as early as next month.
City stunned by European Central Bank's warning on eurozone rates

Oil prices rose back above $128 a barrel Thursday after the dollar fell in response to comments by European Central Bank President Jean-Claude Trichet suggesting the bank could raise interest rates.
Oil surges more than $5

Mr King, the Governor, is adamant that the job must go to a leading economist and insiders say that he is pressing hard for Charles Bean. Responding to questions about the appointment in the Commons yesterday, the Chancellor made no mention of economic skills and instead would reply only that the Bank's priority had to be maintaining financial stability.
Alistair Darling likely to reject Mervyn King's choice for deputy

The Bush administration's $168bn (86bn) economic stimulus package has encouraged Americans to indulge in a modest shopping spree, according to figures from leading retailers that show a slight rally in high street takings.
Tax refunds for 130m households help warm up US economy

The housing market is deteriorating at a much faster rate than it did during the recession of the early 1990s, Bellway said, as expectancy grew in the City that some UK housebuilders could be forced to raise capital to shore up their balance sheets.
UK housing market falling faster than last recession, says Bellway

Bradford & Bingley directors last night sought to bolster support for the ailing mortgage lender when they revealed the board purchased more than half a million shares at a cost of more than 350,000.
Directors back B&B with 350,000 buying spree

The world's top economic powers have launched a last-ditch effort in Paris to save a deal on global trade as the public mood turns increasingly protectionist in both rich and poor societies.
Crisis trade talks in Paris as protectionism looms

The price war among the exchanges in Europe intensified yesterday as the transatlantic powerhouse NYSE Euronext slashed its fees to help repel competition from three rival markets preparing to launch this year.
NYSE Euronext challenges rivals with 30% cut in trading fees

Viren Rastogi, the businessman behind a global metals trading fraud that duped 20 banks - including West LB, JP Morgan Chase and Dresdner Bank - out of $750m (383m), has been jailed for nine and a half years.
From Piccadilly to Indian cowshed: conmen jailed for $750m fraud that fooled top banks

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

10:00 EU German Industrial Production April (YoY consenus 6.1%, MoM 0.2%)
13:30 US Nonfarm Payrolls May (consensus -60K)
13:30 US Unemployment Rate May (consensus 5.1%)
13:30 US Manufacturing payrolls May (consensus -40K)
15:00 US Wholesale Inventories April (consensus 0.5%)

BROKERWATCH Standard Life cut to 'sell' from 'neutral' at Deutsche BankTFN UK calendar and forecasts for todayTFN economic and business calendarLondon shares outlook - higher, after Wall Street surges; Signet to report

CORRECTION BROKERWATCH Standard Life cut to 'sell' from 'hold' at Deutsche BankThe Friday Press Roundup

BROKERWATCH Scottish & Southern Energy upped to 'overweight' at Morgan Stanley

Thomson Financial UK at a glance share guide

hmTokyo shares close higher, led by exporters and oil-related stocks

Tokyo shares close higher, led by exporters and oil-related stocks

UK smallcap opening - Sport Media slides on FY profits warning

BROKERWATCH European Basic Resources cut to 'neutral' - ABN Amro strategy reviewBROKERWATCH Vedanta, Norilsk Nickel cut to 'neutral' vs 'buy' at Merrill Lynch

UK smallcap opening - Patsystems runs back on H1 profits warning

London shares open higher, after Wall Street surge; miners and oils gainUK smallcap opening - Genosis dips on move to de-list from AIM

Tokyo shares close higher, led by exporters and oil-related stocks - UPDATEUK smallcap opening - Finsaga rises on 13.7 million pounds capital return move

UK smallcap opening - Flomerics up on confirmation of Autodesk bid talks

UK smallcap opening - Camco gains on directors' share buying

UK small caps open higher, with Finsaga top dog on the capital return move

BROKERWATCH Rentokil Initial cut to 'sell' from 'hold' by Panmure GordonSTOCKWATCH ASMI surges as Applied Materials offer sparks break-up scenario

KEEP an EYE

RXP 13.25 / 13.50p
reason - Moving up since yesterday with volume, rumours that funding is being already arranged, Level 2 has improved on the last few minutes again 2 v 2 on a narrow spread