Good morning traders!

In Asia today, the Nikkei was recently down 26.43 points at 13,823.13, while the
Hong Kong markets are closed as the area faces a severe storm warning.

New York's main oil futures contract, light sweet crude for August delivery, fell 19
cents to $136.81 a barrel after rising 26 cents to close at $137.00 per barrel in
New York on Tuesday.

Happy trading!

G.

Morning all. Market reports:

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

Barclays may release the details of its planned 4bn fundraising as early as today after sounding out shareholders on the proposal since the weekend. An announcement is expected by tomorrow night to remove conflicts from shareholders who have been brought inside on the deal as soon as possible.
Barclays to unveil detail on cash call

Bradford & Bingley, the embattled mortgage bank, looks close to agreeing to open its books to Resolution it emerged late last night, after Clive Cowderys investment vehicle tabled a revised 400 million bailout proposal.
Bradford & Bingley ready to open the books

Credit rating agencies face a threat to their global stranglehold this afternoon when America's Securities and Exchange Commission (SEC) will propose rule changes to allow US money market funds to invest in short-term debt without regard to official ratings.
SEC plans rule change that will curb agency power

House prices in the US have fallen by almost 23 per cent over a three-month period and a decline in American consumer confidence is seen as signalling the biggest drop in consumption to occur since 1974.
Fears for US consumption as houses fall 23%

The Federal Reserve began its two-day meeting to decide on the next move for US interest rates, amid some of the worst consumer confidence and house-price data on record.
Fed stymied on rates by price rises and faltering economy

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

BROKERWATCH Rexam upped to 'outperform' by Credit Suisse; target cut to 535pLondon shares outlook - lower after U.S., Japan losses; anxiety ahead of FOMCThe Wednesday Press Roundup

BROKERWATCH Rentokil cut to 'neutral' from 'buy' at UBS; target 110p from 105p

BROKERWATCH Genmab downgraded to 'underperform' from 'neutral' at Merrill LynchBROKERWATCH B&B, Alliance & Leicester upped to 'equal-weight' at Morgan StanleyThomson Financial UK at a glance share guideTokyo shares close down but off lows on short covering

10:00 EU Industrial New Orders April (MoM consensus -0.5%, YoY 2.7%)
12:00 US MBA Mortgage Applications
13:30 US Durable Goods Orders May (consensus 0%, ex-transport consensus -0.9%)
15:00 US New Home Sales May (consensus 512K, MoM -2.7%)
15:30 US DoE Oil Inventories
19:15 US FOMC Rate Decision (consensus 2%, no change)

Australian shares close lower on profit-taking in miners

Tokyo shares close down but off lows on short covering - UPDATEFirst Day of Dealings (of the

BROKERWATCH BP upgraded to 'overweight' from 'equal-weight' at Morgan Stanley

Australian shares close lower on profit-taking in miners - UPDATE

London shares open higher, fuelled by banks, overshadowing falls in NY, Japan

UK smallcap opening - Sareum ticks up on a trio of repeat business dealsUK smallcap opening - Invocas higher on FY results, upbeat statement

BROKERWATCH Seat PG's EBITDA forecast, target price cut at KeplerRPT BROKERWATCH Publicis removed from 'selected list' at Cheuvreux

STOCKWATCH Stallergenes up sharply after Oralair approval in Germany - UPDATEUK smallcap opening - Ariana Resources up on Kiziltepe upgrade potentialUK smallcap opening - HML hardens after robust FY numbers

UK smallcap opening - Murchison United adrift on Areva joint venture

OUTLOOK DSG International to confirm 31 percent FY profit slump

UK small caps open higher; Invocas top performer after FY results

STOCKWATCH Barclays jumps 5 percent as rights issue news removes uncertainty

STOCKWATCH Deutsche Postbank climbs helped by rumours Lloyds to bid 11 bln eur