Morning all. Market reports:

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

Falling consumer confidence in America allied to the continued drop in house prices is pointing to the lowest level of spending since the 1950s, official data showed yesterday. According to the Conference Board's consumer confidence index, the outlook of Americans last month was the most gloomy since October 1992, with expectations for the future declining even further.
Falling US house prices curb consumer spending

The annual rate of mortgage approvals fell almost 40% in April as sliding home values and tighter lending conditions put people off borrowing money to buy property, figures out yesterday showed.
Loan squeeze cuts mortgage approvals by 40%

The Treasury is struggling to find an independent valuer to calculate how much Northern Rock's former shareholders should be paid in compensation, and is now considering advertising for the post.
Treasury struggles with Northern Rock valuation for shareholders

The price of oil fell sharply tonight as the dollar strengthened, highlighting the close relationship between the American currency and the record highs of crude.
Oil takes a tumble as the dollar climbs

The International Monetary Fund no longer has the financial clout to fulfil its traditional role of lending out money to save crisis-stricken countries, a new Bank of England report has warned.
IMF 'can't bail out crisis countries'

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

12:00 US MBA Mortgage Applications
13:30 US Durable Goods Orders April (concensus -1.5%, ex-transport -0.5%)

TFN UK calendar and forecasts for today

London shares outlook - higher, NY closes firmer, British Energy FY in focusThe Wednesday Press Roundup

BROKERWATCH RBS to 'neutral' at Credit Suisse; Lloyds TSB to 'underperform'Thomson Financial UK at a glance share guide

EXPN bought last week is up over 10p.
Might get out of it to buy RBS at 242p.

Australian shares close lower as resources retreatTokyo shares close lower on gloomy U.S. economic outlook

BROKERWATCH United Utilities & Pennon upped to 'overweight' in review at HSBCBROKERWATCH Friends Provident upped to 'overweight' from 'neutral' at JP Morgan

UK smallcap opening - Matra Petroleum up as damaged well successfully treatedUK smallcap opening - Planet Payment climbs on Global Payments deal

BROKERWATCH Morrison upped to 'outperform' by Credit Suisse; target up to 340p

UK smallcap opening - Topps Tiles slide as H1 dividend cut

London shares open higher after firmer NY close; Friends Provident gainsAustralian shares close lower as resources retreat - UPDATE

UK smallcap opening - Anite dips on FY warning

one to keep an eye on, a bid target.

Tokyo shares close lower on worry over oil prices, U.S. economy - UPDATE

BROKERWATCH Generali upped to 'add' from 'hold' at WestLB on valuation grounds

UK smallcap opening - Silverdell down on swing to H1 lossesUK smallcap opening - Broca clipped by increased H1 losses

UK smallcap opening - Empyrean Energy advances on Sugarloaf update

UK smallcap opening - Central China Goldfields edges up as Nimu drilling starts