Good morning traders!

In Asia today, the Nikkei was up 86.52 points at 10,044.96, while the Hang Seng
is closed for a public holiday.

Crude oil traded at $70.68 a barrel.

Happy July!

G.

Morning all. Market reports:

Telegraph
The Times
FT
The Guardian
This is Money

The recession has been longer and deeper than previously thought, says the Office for National Statistics. Fresh estimates reveal that the British economy endured its sharpest drop in output in more than half a century earlier this year, and that the recession began as early as the second quarter of 2008, some months earlier than had been assumed.
Deeper, longer recession raises fears for the recovery

Inflation in the 16 countries using the euro turned negative in June for the first time on record, with prices falling 0.1pc over 12 months, according to an official estimate on Tuesday.
Eurozone suffers deflation for first time

Global stock markets were heading on Tuesday for their best quarterly performance in more than 20 years, with a sharp rally from March lows. The FTSE All-World Developed Market index was on course for its best performance since 1987, having gained more than 21% since end-March.
Stellar quarter for stock markets

Half of the 5.8 trillion yuan (522bn) of stimulus loans issued by Chinese banks have flowed into the country's stock and property markets, inflating new bubbles, according to senior Communist officials.
Chinese stimulus cash is inflating new stock market bubble, officials warn

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

The Hang Seng is closed today.

HMV Investec: upgraded to buy from hold, tp reiterated 130
HSV UBS: downgraded to neutral from buy, tp raised to 1600 from 1425
ITL UBS: reiterated buy, tp raised to 80 from 70
SDR Credit Suisse: upgraded to neutral from underperform

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