Morning all. Market reports:

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

American banks that have received a taxpayer bailout may face a new levy as President Obama tightens the political screws on financial institutions.
New levy threat for American banks

Retailers HAVE shrugged off the downturn to record their best Christmas trading figures since December 2001, but store owners are warning that the buoyant sales may offer only temporary relief on the "painful road to recovery".
Festive sales 'stronger than retailers dared hope for'

NIKKEI 225	AUSTRALIA ASX200	HANG SENG	SHANGHAI COMPOSITE

KOSPI	SENSEX
NYMEX CRUDE	GOLD	VIX

BDEV RBS: upgraded to buy from hold
BKG Credit Suisse: tp raised to 920 from 903
BKG RBS: upgraded to buy from sell
BRBY Citigroup: reiterated neutral, tp raised to 600 from 480
BVS Credit Suisse: tp raised to 774 from 750
BWY Credit Suisse: tp raised to 1256 from 1200
BWY RBS: downgraded to hold from buy
MGCR Goldman: upgraded to buy from neutral
MRW Citigroup: tp reiterated 265
PSN Credit Suisse: tp raised to 642 from 606
PSN RBS: upgraded to buy from hold
RDW RBS: upgraded to hold from sell
SIA Morgan Stanley: upgraded to overweight from neutral, tp 1800