Morning all. Friday's market reports:

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

Saturday

The psychology of global markets has shifted hugely over recent days as it becomes clear that Europe, Australasia and parts of Asia are sliding into recession. The US dollar has launched its best rally in half a decade, reflecting a recognition that half the world is in even worse shape than the US. In fact, America is the only G7 country to eke out modest growth this summer.
US dollar rallies as extent of worldwide recession becomes clearer

The pound is poised to dip below $1.90 against the dollar for the first time in almost two years, as the greenback stages a major comeback against the ailing UK currency.
Sterling heads for $1.90 as dollar mounts a recovery

The number of buy-to-let mortgages has plummeted by 93 per cent in the past year leaving tens of thousands of novice landlords struggling to find affordable deals. Figures revealed to The Daily Telegraph show there were 4,384 mortgages available to landlords 12 months ago compared with just 307 deals today.
Buy-to-let mortgages plummet 93pc in a year

The number of people losing their homes through repossessions leapt by almost half during the first six months of this year to its highest level for 12 years, it emerged yesterday.
Home repossessions by aggressive lenders surge

The possibility of a US government takeover of Fannie Mae, the mortgage finance giant, moved a step closer yesterday after the company said it may not have enough capital to make it through next year.
Fannie Mae admits it may need fresh capital

The US economy is in recession. Period. And it has been in a recession since January. This is the mantra of David Rosenberg, the first Wall Street economist to predict America's current economic woes, back in January, and perhaps one of the most bearish in the economic fraternity.
Americans need radical surgery to revive country's economy

UBS has reached a deal with American financial regulators that will see it buy back up to $22bn (11bn) of illiquid auction-rate securities in a bid to settle claims that it misled investors.
UBS agrees to buy back 11bn illiquid securities

Sunday

Russian financial markets are likely to be thrown into turmoil this week following the outbreak of fighting between Russian military and Georgian government forces in South Ossetia. "When we get one reason to sell after another, people start throwing in the towel," said Ronald Smith, chief strategist at Alfa Bank.
Georgia war sparks Russian market fears

In its much-awaited quarterly Inflation Report, the Bank is expected to slash its economic growth forecast for this year and next to the lowest level since it was granted independence in 1997. It will simultaneously warn that inflation will rise uncomfortably high, giving it no leeway for major interest rate cuts.
Bank of England to slash forecast and warn of recession

Mervyn King, Governor of the Bank of England, is expected to reveal this week that inflation in Britain has surged to a 16-year high of 4.5 per cent 2.5 per cent higher than the target level prescribed by the Government. Mr King will once again be forced to write a letter to Chancellor Alistair Darling explaining why prices have leapt so high.
Inflation could reach 16-year high of 4.5 per cent, warns City

Monday

A full-scale evacuation of the Georgian city of Gori has started as fears rose that Russia would soon advance its troops across the border from the breakaway republic of South Ossetia into the main body of Georgia itself.
Georgia: Gori evacuated as fears of Russian advance into Georgia grow

BP is facing a second front in the former Soviet Union after Russian jets were reported to have launched a bombing raid on its main pipeline in Georgia, raising fears that Moscow was moving to increase its stranglehold on Europe's energy supplies. The oil giant is the biggest of more than 100 British companies operating in Georgia that have unwittingly become embroiled in the war between Russia and its neighbour.
BP on alert as Russian jets attack pipeline in Georgia

Traders are braced for heavy falls in oil and commodity prices this week, heralding the end of the so-called commodities boom, after the US dollar posted its biggest one-day gain against the euro for eight years on Friday.
Stronger dollar pushes commodities lower

Flushed with the success of securing $40 billion of settlements from Merrill Lynch, UBS and Citigroup, US state regulators are expected to turn up the heat on banks accused of mis-selling auction rate securities (ARS).
Banks braced for more bond mis-selling action

It might not sound like the best way to make money on Aim, but betting that the value of smaller shares will fall further is a practice that is starting to occur on the junior market.
Hungry bears start prowling among the juniors

The chairman of the International Accounting Standards Board is increasingly confident that the US is poised to adopt similar accountancy practices to the rest of the world. The inclusion of the US in the long list of countries using IFRS would be a major coup for the IASB.
US will adopt global accountancy model

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

BROKERWATCH Intercontinental Hotels cut to 'neutral' vs 'buy' at UBS, tgt 790pTokyo shares close sharply higher on weaker yen, Nikkei at 2-week highThomson Financial UK at a glance share guideLondon shares outlook - higher after Wall St, Asian gains; CPI, BoE reports key

BROKERWATCH Aquarius Platinum upgraded to 'overweight' at HSBC, to 'buy' at UBSBROKERWATCH Marks & Spencer downgraded to 'neutral' from 'overweight' at HSBC

BROKERWATCH Experian cut to 'sell' vs 'neutral' at Goldman Sachs, tgt 375 pence

Tokyo shares close sharply higher on weaker yen, Nikkei at 2-week high - UPDATE

UK smallcap opening - Costain rises after contract awardLondon shares open flat after Wall St, Asian gains; CPI, BoE reports keyUK smallcap opening - Management Consulting rises despite reporting loss

STOCKWATCH BAE Systems higher on reports Saudi Arabia may buy Eurofighters

UK smallcap opening - Interactive Prospect Target plunges on profit warningUK smallcap opening - Ennstone falls after updating on covenants

UK smallcap opening - Ultima higher on solar deal

BROKERWATCH BT Group kept as 'buy' at Investec, target 230 pence vs 300 pence

UK smallcap opening - Next Fifteen higher on upbeat updateUK smallcap opening - European Nickel on Turkish forestry permit progress

BROKERWATCH Bellway upgraded to 'neutral' by Goldman Sachs in sector review

UK small caps open higher; Costain higher on award contract

London shares - midmorning features

London shares - midday features

UK small caps up at midday; Ultima Networks rises on distribution agreement

Midday Market Roundup

Precious Metals Summary - London AM Fixings

London shares - midafternoon features