Good morning traders!

In Asia today, the Hang Seng ended the morning up 20.44 points at 22,766.04,
while the Nikkei was recently down 34.43 points at 13,907.65.

New York's main oil futures contract, light sweet crude for August delivery, was 29
cents higher at $135.65 per barrel.

Happy trading!

G.

OUTLOOK UK smaller company results for two weeks to July 4OUTLOOK AstraZeneca early Seroquel outcome unclear, boost if positiveTFN economic and business calendar to Friday July 4Thomson Financial Europe AM at a glance share guide: Shares lower, oil surges

OUTLOOK UK smaller company results for two weeks to July 4

Morning all. Friday's market reports:

Telegraph
The Times
FT
The Guardian
The Independent
This is Money

Satuday

The threat of up to $10bn (5bn) in further banking writedowns on the back of serious downgrades to the world's two largest bond insurers sent shares in New York tumbling to levels not seen since March. Credit ratings agency Moody's decision to remove MBIA and Ambac's prized Aaa ratings saw the shares values of the two "monoline" insurers fall by 13pc and 6pc respectively.
Dow Jones tumbles on threat of new $10bn banking writedowns

The International Monetary Fund (IMF) has warned Americas central bank that it might have to raise interest rates quickly to contain inflation. The US Federal Reserve meets next week to decide whether to leave the cost of borrowing unchanged at 2 per cent or to increase rates.
IMF warns the Fed it must be ready to act on inflation

Japan's finance houses emerged unscathed from the credit crunch and are now turning their attention to the outside world.
Japan offers a helping hand to world banks

Five investors are in talks to back a 4bn cash injection in Barclays to shore up the UK bank's balance sheet, with a deal expected to be announced some time next week.
Five investors in talks to back 4bn cash injection in Barclays

Andy Hornby, chief executive of HBOS, is embarking upon a fresh charm offensive of big City investors as the bank's 4bn cash call comes under continued pressure.The bank's shares dipped for a time below the 275p rights prices yesterday as gloom descended over the stock after Thursday's trading update when the country's biggest mortgage lender predicted house prices would fall 9% this year.
HBOS shares put rights issue price to test

The number of house builds has sunk by nearly 60% in 12 months as tighter mortgage lending puts off buyers. The National House Building Council, with 20,000 registered housebuilders on its books, said there were 6,890 starts in the private sector in May, compared with 15,713 last year. This is a drop of 56%.
Housebuilders suffer 60% slump in starts as mortgage market tightens

NEW YORK (CNNMoney.com) -- Saudi Arabia this weekend will convene a special summit on oil prices that could lead to cheaper crude on the world market. But a Saudi decision to produce more crude likely won't come without a demand: The Kingdom is expected to press the U.S. government to impose greater controls on oil trading and take steps to strengthen the dollar.
Saudi summit aims at oil prices

Oil prices surged as some members of the Opec producers' cartel rejected demands to increase output ahead of tomorrow's meeting in Saudi Arabia to discuss soaring fuel costs. The president of Opec, Chakib Khelil, said yesterday that it would be "illogical and irrational" for it to increase output.
Oil prices soar as leaders gather for Saudi Arabia summit

A supplier to Blacks Leisure, the camping and outdoorwear retailer, has become the latest company to have its credit insurance reduced, in a sign of growing jitters in the insurance market. The fact that the world's largest credit insurance company is reducing its cover across the retail sector reflects a steep downturn in confidence surrounding the consumer economy.
Insurance fears hit Blacks Leisure supplier

Sunday

THE Bank of Englands message on interest rates in recent days was intended to be neutral, sources say, and not a signal that the monetary policy committee (MPC) is contemplating early rate rises.
Bank of England denies rate hikes are in the offing

The City regulator has conceded defeat in its efforts to find a 'smoking gun' as part of its probe into share dealings which saw the stock price of HBOS, Britain's biggest mortgage-lender, plunge by almost 20 per cent on one morning in March. Despite the failure to take decisive action against any orchestrators of the HBOS share price fall, the FSA believes the comprehensive nature of its investigation will have a 'prophylactic' effect on those tempted to spread false rumours about a company's financial health.
FSA admits defeat after HBOS probe

A SENIOR member of the Qatari royal family has thrown Barclays fundraising efforts into jeopardy after raising legal claims against the bank over an alleged 50m (40m) fraud. The billionaire sheikh, a member of Qatars ruling Al Thani family, claims that gross negligence by Barclays allowed an employee to siphon off sums of about 4m a month from a personal account in Marbella.
Sheikhs 40m claim hits Barclays

Barclays shareholders are questioning whether this week's 4bn placings with four strategic investors will be big enough to strengthen its finances. One top 10 shareholder pointed out that it will still leave Barclays as the world's weakest bank. 'Do they really want that?' he asked.
Investors say Barclays needs more than 4bn

LLOYDS TSB has made a tentative approach to buy Germanys Dresdner Bank, which has been put up for auction by its parent company, the insurance giant Allianz.
LloydsTSB eyes up 6 billion Dresdner Bank bid

CHINAS secretive sovereign wealth funds will help its state-owned companies to expand overseas in a shift of strategy after economic talks with America, according to analysts in Shanghai. The negotiations, led on the American side by Treasury secretary Henry Paulson, ended with an agreement to open Chinese capital markets further to institutional investors by reducing the lockup period for investments. Chinas aim is to secure reciprocal treatment to smooth the way for its own companies to build up their foreign holdings.
China's sovereign wealth funds set for global spending spree

MEMBERS of the Organisation of Petroleum Exporting Countries (Opec) could raise output after todays emergency meeting in Jeddah of oil producers and consumers, according to reports from the Gulf.
Opec prepares to boost oil output after emergency meeting in Jeddah

Top City trader Lex Van Dam is set to do for equities what Sir Alan Sugar has done for enterprise with The Apprentice. Mr Van Dam, a "long-short" trader who used to work for Goldman Sachs and the hedge fund GLG Partners, is to star in a new real-time TV show called Traders. The programme, commissioned by BBC2 and made by Century Films, is to be aired early next year.
City wannabes to be told: 'You're fired!'

Monday

Fears that the price of oil could reach new highs in the coming weeks have intensified following the emergency meeting of the world's oil powers in Saudi Arabia.
Opec rift fuels new fears for oil prices

Emergency talks to address the high global oil price broke up in disarray last night as ministers traded accusations over the cause of the increase and reports of fresh rebel attacks in Nigeria threatened to overwhelm a Saudi pledge to pump more oil.
Fears of oil price rises as attacks in Nigeria offset gains at summit

James Hansen, one of the world's leading climate scientists, will today call for the chief executives of large fossil fuel companies to be put on trial for high crimes against humanity and nature, accusing them of actively spreading doubt about global warming in the same way that tobacco companies blurred the links between smoking and cancer.
Put oil firm chiefs on trial, says leading climate change scientist

Bond insurers such as Ambac, MBIA and FGIC are talking to banks about wiping out $125bn of insurance on risky debt securities, in what could be the only way to limit the financial damage surrounding the so-called monolines.
Bond insurers seek to wipe out contracts

The head of Nakheel, the $80 billion Dubai property business, gave warning yesterday that the real-estate recession in America is far from over and will deteriorate rapidly should the price of oil reach $200 a barrel.
Nakheel chief Chris O'Donnell says US real estate yet to hit the bottom

A leading MP has called on the Financial Services Authority to be given new powers after the revelation that it will not take action against those involved in a "bear raid" on HBOS.
MP calls for new FSA powers after probe fails

There is a dark side to Aim that gets much less coverage than it ought to. This is the murky world of alleged investor dis-information, share ramping, market manipulation and insider trading. While allegations of such shady dealings frequently fly around, most are little more than scurrilous gossip.
Misleading Meridian oiled wheels of rumour

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

TFN UK calendar and forecasts for today

Thomson Financial UK at a glance share guide - weekend

The Monday Press RoundupLondon shares outlook - higher after Friday falls; FTSE 100 rejig take effectRPT Thomson Financial UK at a glance share guide - weekend

BROKERWATCH Hammerson, Great Portland Estates, Shaftesbury upgraded at JP Morgan

Thomson Financial UK at a glance share guide

Tokyo shares close lower on profit-taking mostly in exporters, banks

BROKERWATCH Compass started as 'buy', Sodexo as 'sell' at SG Secs

Australian shares close slightly lower, retailers weigh

BROKERWATCH Total upped to 'buy', StatoilHydro cut to 'sell' at ABN AmroSTOCKWATCH Sanofi-Aventis may rise after FDA approves Pentacel

BROKERWATCH Shire upgraded to 'buy' from 'neutral' at Goldman Sachs

BROKERWATCH Land Securities cut to 'underweight' from 'neutral' at HSBCUK smallcap opening - Netplay TV lower on reported scratch cards probe

Tokyo shares close lower on profit-taking mostly in exporters, banks - UPDATE

UK smallcap opening - Christie slides of FY trading profits warningAustralian shares close slightly lower, retailers weigh - UPDATE

UK smallcap opening - Claimar plunge a third on FY EPS warningLondon shares open higher after Friday falls; oil stocks gain on rising prices