Morning all. Market reports:

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

The Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words.
Fears of 'Lehman-style' tsunami as crisis hits Spain and Portugal

Portugal moved towards a political crisis on Thursday night as its finance minister appealed to opposition parties not to defeat the minority Socialist government over a regional finance bill that he said would have grave consequences for Portugals public accounts and undermine the countrys credibility.
Portugal heads for crisis

Jean-Claude Trichet, ECB president, moved on Thursday to boost confidence in eurozone public finances while maintaining pressure on southern members to bring spiralling deficits under control.
Trichet reassures on eurozone

NIKKEI 225	AUSTRALIA ASX200	HANG SENG	SHANGHAI COMPOSITE

KOSPI	SENSEX
NYMEX CRUDE	GOLD	VIX

Morning Kyoto. I hope yesterdays falls didn't hurt you too much.
I gambled on the DOW bouncing last night after our close and lost. LLOY longs now in deep water. You win some, you lose some and this time the markets won. (:-((

Hat holding time TT!

Its warm here.

.

Opening Market Overview

TT - took some losses yesterday but surprisingly they were nothing special despite the market falls. HMV long still running and a bit sick. Wasn't bothered on the whole, but more of a concern if we see Euro collapse because the UK will be targeted next. Big problem here is that most of my money is tied up in pounds and that means I'm getting progressively poorer in Korea with the strength in that currency and the weakness back home. No point working hard to make money in GBP and watching it all get wiped out by currency movements. I'm very afraid a sterling crisis is brewing.

Sorry about LLOY - not really a long market right now.

I tend to do well in trending/volatile markets, but I find they consume a lot more of my time - thinking and analysing. Having a serious think about whether I want to trade through another crisis because my wife's pregnant and I need to learn Korean quickly now otherwise I'm only going to end up understanding half of what my child says :-)

Congratulations Kyoto! and yes, you will need more than a phrasebook now!! :o)

Morning All,
Good conditions for recovery plays, they could get even better.. problem is "when is even Better"? -):

Did someone here mention being short EXPN?

Experian sued over FreeCreditReport.com

Midday Market Overview

Possible recovery plays for the brave or downright masochistic - based on deviations from the MA25 in %:

HOC-23, EMG-21, ANTO-18, XTA-16, KAZ-15, AAL-14, FRES-14, AQP-13, VED-13, RIO-12, BDEV-12, HMV-12, FXPO-11, BARC-10

on the flipside these are the only stocks on my list which are still above:

AU.+4, UU.+3, SVT+1, LAD+1

It's all going to be about the job numbers today though.

% yields I have (E&OE):

EMG+11, DRX+10.4, HMV+9.8, WMH+8.6, NFDS+7.5, RSA+6.4, GMG+6.3, CW+6.1, BP+5.8, UU.+5.6, TATE+5.6, VOD+5.4, NG.+5.4, SSE+5.3, SSE+5.3, AZN+5.1

and the Peter Snow 'just-for-a-bit-of-fun' deviations from broker price target consensus in %:

HMV-46, LLOY-44, EMG-38, BARC-35, HOC-32, KGF-24, HOME-22, AV.-21, XTA-21, AAL-20, VED-19, RBS-18, RIO-16, HSBA-16, ENRC-15, BT.A-15, PRU-12, ANTO-12, GSK-11, BLT-10

and the flipside:

UU.+8, NWR+8, AQP+5, PNN+4, RB.+4, AU.+4, BSY+2

Payrolls consensus is +15K and the whisper number - according to the FT - is +56K.

Interesting info Kyoto. Thanks. A few may have noticed the large HOC shift from MA25 this afternoon and taken full advantage, from an intra-day fall of 21p to 0.5p at close of play. Nice.

End-of-day Market Overview