Good morning traders!

In Asia today, the Nikkei was recently down 350.80 points at 11,398.99, while
the Hang Seng ended the morning down 1,301.05 points (7.38%) at 16,336.14.

US light crude futures for October delivery shed $1.04 to $96.12 a barrel.

Happy trading!

G.

PRESS DIGEST - Washington Post Business - Sept. 18UK Stocks -- Factors to watch on Sept 18

Morning all. Market reports:

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

A 12bn takeover of Britain's biggest lender, HBOS, failed to halt the deepening crisis in world financial markets last night, as a wave of fresh speculation on global stock markets saw two of Wall Street's most prestigious investment banks targeted as the latest victims of the credit crunch.
Rescue: Lloyds pulls HBOS out of the fire with 12bn merger

Leading institutional shareholders in HBOS have threatened to block Lloyds TSB's 12.2bn rescue bid for the embattled lender. Their opposition comes despite Government support for the deal amid fears that HBOS risks collapse without a rescue.
Investors balk at 12bn HBOS rescue

HBOS has suffered staggering losses in its share price this year, as fearful investors reacted to the market turmoil by selling off their holdings in the banks. These losses have been exacerbated by the controversial practice of "shorting" the stock, predominantly carried out by wealthy hedge funds traders.
The Mayfair mafia who helped to bring down a banking giant

As Halifax Bank of Scotland finalised an emergency takeover by Lloyds TSB, two of Wall Streets most powerful investment banks were scrambling to survive. Shares in Morgan Stanley and Goldman Sachs, once the stormtroopers of global capitalism, tumbled,prompting fears for their future.
Fear stalks Morgan Stanley and Goldman Sachs as HBOS finalise takeover

Shares in investment bank Morgan Stanley crashed as much as 44pc as it became the latest victim of Wall Street's army of short-sellers looking for their next prey. Shares in Morgan slumped as low as $16.08 in morning trading in New York before rallying slightly to trade down $10.60 at $18,10, a 37pc decline. The bank has seen $57bn wiped off the value of its shares since last October.
Short-sellers move on to Morgan Stanley

Morgan Stanley is losing hedge-fund clients who are concerned that a record drop in the New York- based investment bank's stock threatens its finances, investors and industry executives said.
Morgan Stanley Loses Hedge-Fund Clients as Stock Tumbles 42%

Morgan Stanley is holding talks with American retail and mortgage bank Wachovia about a possible merger. The investment bank, whose shares fell as much as 44pc yesterday, is keen to find a commercial bank with a significant deposit base in order to increase its access to capital in light of the continued credit crunch.
Morgan Stanley and Wachovia in $44bn merger talks

ohn Mack, Morgan Stanleys chief executive, on Wednesday contacted Hank Paulson, Teasury secretary, and Christopher Cox, SEC chairman, accusing short sellers of targeting Morgan Stanley and urging them to take action.
MSs John Mack hits at short-sellers

US securities regulators were Wednesday night preparing to subpoena hedge funds and other investors for their trading records amid growing claims that abusive short-selling was helping push troubled financial groups over the edge.
SEC clamps down on short trading

The global credit system came close to total seizure yesterday. Key parts of the derivatives market shut down and a panic flight to safety depressed the yield on three-month US Treasury bills to almost zero for the first since the Great Depression in 1934.
Global credit system suffers cardiac arrest on US crash

The US Treasury is to take the surprise step of selling debt specifically for the purpose of bolstering the balance sheet of the Federal Reserve in the wake of its $85bn (47bn) rescue of American International Group.
Treasury bill sales will give Fed 'extra bazooka shells'

In a statement yesterday, the Bank said the "window" for the banks to come to the Bank to swap unmarketable mortgage-backed securities for gilts would be extended to 30 January, because of "the current disorderly market conditions" and "to provide additional time for banks to plan their access to the scheme in an orderly fashion".
Bank of England surprises City by extending Special Liquidity Scheme

AIGs woes reverberated through commodity markets on Wednesday, triggering a wave of selling and forcing two exchanges to make an extraordinary intervention in the markets. The insurer acts as a counterparty to a substantial portion of the $30bn invested in the Dow Jones AIG Commodity Index, the second top benchmark for commodities investors.
AIG fears spark commodities sell-off

Hector Sants, the chief executive of the Financial Services Authority, has warned consumers they could face "severe implications" during the current economic downturn, as the credit crisis deepens throughout the world.
Hector Sants in credit crisis warning to consumers

The number of Britons claiming unemployment benefit is rising at its sharpest rate since December 1992, as the economy teeters on the edge of recession. Official figures out yesterday show that the claimant count in August jumped by 32,500 - higher than the 22,300 forecast by analysts - piling more pressure on the Bank of England to cut interest rates.
Unemployment reaches highest rate for 16 years

Russia halted trading on its two main exchanges yesterday as shares continued to plummet one day after the country's markets posted their biggest losses since its 1998 financial collapse.
Russian exchanges closed to stem panic-selling

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

VIX

PRESS DIGEST - Wall Street Journal - Sept 18

The Thursday Press Roundup

PRESS DIGEST - New York Times business news - Sept 18

STOCKS NEWS EUROPE-European indexes seen opening mixed

PRESS DIGEST - Russia - Sept 18

Base and Precious Metals Summary

STOCKS NEWS EUROPE-Kingfisher up on plans to offset tough mktsSTOCKS NEWS EUROPE-Arcador up; refinancing talks to end soon

STOCKS NEWS EUROPE-Hiscox surges as A.M. Best upgrades to 'A'

Asian stock market summary

STOCKS NEWS EUROPE-Genus up as China unit to boost capacitySTOCKS NEWS EUROPE-SMALL CAP INDEX OPENS FLAT

TFN NEWS BRIEFING: Pharmaceuticals and chemicals highlights to 09:10 BSTTFN NEWS BRIEFING: TMT highlights to 09:10 BSTTFN NEWS BRIEFING: Aerospace and transportation highlights to 09:10 BST

TFN NEWS BRIEFING: Consumer and retailing highlights to 09:15 BSTTFN NEWS BRIEFING: Oil and utilities highlights to 09:15 BSTTFN NEWS BRIEFING: Banking and insurance highlights to 09:15 BST

TFN NEWS BRIEFING: Mergers and acquisitions highlights to 09:20 BST

STOCKS NEWS EUROPE-Allianz, Commerzbank fall on Dresdner talk

STOCKS NEWS EUROPE-Pernod down as traders doubt growth targetTFN NEWS BRIEFING: Macroeconomics highlights to 10:10 BST

LLOY 293p +13p

Has recovered all the losses earlier, is worth 242p for HBOS now 212p +65p

HBOS is a buy on the idea of buying LLOY on the cheap for the PORTFOLIO

               
                moneyam charts , still with the 15 minutes delay

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