Good morning traders!

In Asia today, the Nikkei was down 252.4 points at 9,787.27, while the Hang
Seng ended the morning down 555.56 points at 17,943.4.

Crude oil traded at $70 a barrel on Nymex.

Good hunting!

G.

Morning all. Market reports:

Telegraph
The Times
FT
The Guardian
The Independent
This is Money

Markets around the world tumbled on Monday as Dominique Strauss-Kahn, managing director of the International Monetary Fund, said the worst of the global recession was yet to come.
Markets tumble as IMF warns worst of crisis could be ahead

The European Central Bank has given its starkest warning to date on growing strains in the eurozone credit markets.
ECB warning on banks rattles global markets

The worst of the recession is yet to come, European finance chiefs warned today. And there is still "something rotten" in the banking system in Europe, despite the spate of recent state bailouts. Erik Berglof, chief economist at the European Bank for Reconstruction and Development, and EU Competition Commissioner Neelie Kroes were speaking at the Forbes CEO Forum in Gleneagles today.
European recession will worsen, says economist

Cheaper prices for food is expected to have driven down inflation in May, returning prices to the Bank of England's target.
UK inflation expected to have eased in May

Investors' appetite for British government debt will be tested today with the first gilt sale of its kind in four years. The Debt Management Office (DMO), the executive agency of the Treasury that manages sales of government bonds, is expected to raise up to 5 billion through the sale of 25-year gilts.
Government tries out taste for debt with 5bn gilt sale

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

AU. Nomura: initiated neutral
BLND JPMorgan: upgraded to overweight from neutral
BT.A Morgan Stanley: upgraded to overweight from equalweight, tp raised to 150 from 130
HMSO JPMorgan: upgraded to overweight from neutral
HOME HSBC: upgraded to neutral from underweight
KAZ UniCredit: reiterated buy
PNN UBS: downgraded to neutral from buy
RSL Morgan Stanley: initiated overweight
SGE Nomura: initiated buy
SRP UBS: upgraded to buy from neutral

Twitter Updates
more >>

Midday Market Overview

        LUNCH TIME FUN


BA Staff Asked To Work For Free

British Airways is asking its staff to work for one month for
absolutely nothing as the cash- strapped airline resorts to
desperate measures to cut costs.

Chief Executive, Willie Walsh, who last week declared that
he would forego his salary in July, is asking staff to
volunter for between one and four weeks of unpaid leave
or unpaid work as part of "a fight for survival".



No thank you, I have to pay my bills.........

End-of-day Market Overview