Afternoon all. Friday's market reports:

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

Saturday

This Government has now presided over a bigger devaluation of the pound than was seen under Harold Wilson or James Callaghan, after sterling plummeted in the wake of figures confirming the economy is entering recession.
Pound suffers worst fall in 41 years

One of the world's biggest hedge fund managers, Citadel, told clients last night that two of its main funds have lost 35% of their value this year after rumours swept the market about its financial position.
US hedge fund admits 35% plunge in value since downturn

The troubled insurance giant American International Group already has consumed three-quarters of a federal $123 billion rescue loan, a little more than a month after the government stepped in to save the company from bankruptcy.
AIG Has Used Much of Its $123 Billion Bailout Loan

Sunday

Federal reserve chairman Ben Bernanke is poised to slash American interest rates to just 1 per cent this week, the lowest level since the depths of the dotcom crash, as government figures reveal the US has joined Britain on the cusp of recession.
America joins UK on brink of recession

The financial crisis spreading like wildfire across the former Soviet bloc threatens to set off a second and more dangerous banking crisis in Western Europe, tipping the whole Continent into a fully-fledged economic slump.
Europe on the brink of currency crisis meltdown

Sterling is caught up in a currency market tsunami as money pours out of emerging markets and into the dollar and the yen, experts said yesterday.
Sterling caught up in 'currency market tsunami'

There will be a 50 per cent increase in business failures in the UK this year as the crunch bites into the real economy, according to the head of Euler Hermes, the world's biggest credit insurer.
UK business failures 'will rise by 50pc'

But talk in the City is about how massive hedge fund redemptions are helping to push world stock markets to new depths as investors bail out in a desperate bid to turn their holdings into hard cash. One industry insider says: 'Some have already ceased to exist as nervous investors sell and highly leveraged funds face margin calls from banks, which want more collateral to take account of plummeting values.'
Bloodbath in Mayfair as half of all hedge funds face termination

The worlds biggest hedge fund is undertaking a radical restructuring amid a shake-up of the multi-trillion dollar industry which spells the end for thousands of its smaller rivals.
Worlds biggest hedge fund restructures amid turmoil

Barclays is set to unveil a 2bn-plus rescue package that will see the Qatar Investment Authority boost its investment in the British bank where it already owns an 8 per cent stake.
Qatar comes to Barclays' aid again

AEGON, the giant European insurance group, is in weekend talks with the Dutch government about the possibility of joining a 20 billion (16 billion) state recapitalisation scheme.
Insurers next for state bailout

Good morning traders!

In Asia today, the Hang Seng ended the morning down 532.11 points at 12,086.27,
while the Nikkei was down 6.36% at 7,162.9 at its unofficial close.

US light crude for December delivery was down 35 cents at $63.80 a barrel.

Happy trading!

G.

Monday's newspapers:

Currency and stock trading in Tokyo lurched through a morning session of extreme volatility as speculation mounted on dealing floors that the Japanese government may be preparing to intervene to weaken the yen.
Nikkei crashes to 26 year low

Stock markets across Asia have continued their nervous decline, apart from in Japan, where rumours of an enormous government bail-out steadied the Nikkei.
Asian markets drop again amid global turmoil

Pressure is mounting on the Bank of England for an emergency interest rate cut this week as the severity of the global downturn wreaks more havoc.
Bank of England under pressure for early cut in interest rate

The US Federal Reserve is expected to cut interest rates again this week amid mounting speculation of a new round of coordinated international action to halt the panic that has swept the world's financial markets.
Fed expected to lead round of rate cuts

When this man predicted a global financial crisis more than a year ago, people laughed. Not any more...
Nouriel Roubini: I fear the worst is yet to come

British insurance companies will not be bailed out by the United States,The Times has learnt. It is understood that, although Henry Paulson, the US Treasury Secretary, was prepared to listen to appeals for cash from British and American insurers, he is adamant that US bailout funds will go only to federally regulated financial institutions that lend money.
Henry Paulson closes door on hopes of bailout for UK insurers

European companies are set to issue a wave of profit warnings in coming months as earnings are expected to fall by about 40 per cent by the end of 2009.
Wave of profit warnings expected

The European commission has given leading players in the 380tn derivatives market until the end of the year to come up with "concrete proposals" to reduce the risks these complex products pose to the financial system.
Brussels begins crackdown on complex trading

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX

UK AT A GLANCE UK Stocks -- Factors to watch on Oct 27

UK AT A GLANCE UK Stocks -- Factors to watch on Oct 27

STOCKS NEWS EUROPE-Kontron seen up on Q3 results

STOCKS NEWS EUROPE-European futures points to lower open

US futures point to falls as recession woes deepen

STOCKS NEWS EUROPE-Rentokil Initial slips as Panmure cuts target

STOCKS NEWS EUROPE-F&C falls on share disposal fears

Midday Market Overview

Precious Metals Summary - London AM Fixings

Precious Metals Summary - London PM Fixings

*RECKITT WILL NOT COMMENT ON OUTLOOK FOR 2009 UNTIL JANUARY/FEBRUARY

END_OF_DAY MARKET OVERVIEW