Morning all. Friday's market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent

Saturday

A glimmer of hope for the global economy has been offered by finance chiefs from the world's G7 economic powers - including Timothy Geithner, the US Treasury Secretary.
US Treasury Secretary Timothy Geithner says he is "encouraged" by slowdown in recession

Finance officials are pledging to keep the momentum going in their efforts to combat a severe global downturn but have hit a stumbling block in differences over how to boost the resources of the International Monetary Fund.
Finance officials at odds over IMF funding plan

Alistair Darling's Budget forecasts for economic growth have been all but shattered after official GDP figures indicated the worst six months since records began in 1948.
Economy suffers worst 6 months since 1948, dashing Alistair Darling's forecasts

Sunday

American banks could be forced to raise $70bn (48bn) in new capital as a result of new rules being introduced by financial regulators.
US banks face $70bn shortage

The world is running out of capital. We cannot take it for granted that the global bond markets will prove deep enough to fund the $6 trillion or so needed for the Obama fiscal package, US-European bank bail-outs, and ballooning deficits almost everywhere.
The capital well is running dry and some economies will wither

THE Bank of England is preparing a lifeboat to rescue Britains troubled building societies, amid worries for the financial health of the sector.
Lifeboat for building societies

THREE of Britains biggest water companies have received emergency cash injections from their buyout backers to keep them from breaching debt agreements. Southern Water, Anglian Water and South East Water were bought in debt-fuelled deals totalling more than 7 billion at the top of the private equity boom in 2006.
Water firms bailed out

Monday

Americas economy is likely to continue shrinking for some time to come, Larry Summers, the director of the White House National Economic Council, warned yesterday, predicting further rises in unemployment.
US economy to continue down, says Summers

During the panic about Asian bird flu in 2005 and 2006, airline, hotel groups, insurers and oil companies stocks fell heavily, while shares in drug, healthcare and cleaning product businesses soared.
Drugs companies prepare for swine flu epidemic

Travel and hotel groups are braced for a turbulent ride today as stock markets react to fears over the strain of swine flu that was reported to have killed up to 71 people and closed much of public life in Mexico at the weekend.
Swine flu fears may hit airline, hotel shares

Cracks have opened up in the united front maintained by the leading world economies in trying to combat the global recession. Tensions flared at talks between finance ministers over how to carry through key elements of the pact sealed at this months London summit of the Group of 20 nations.
Bargaining fails to break deadlock over IMF

Oil could approach the record prices of last July as the global recession halts investment in exploration and energy projects, the Organization of Petroleum Exporting Countries (Opec) warned last night.
Oil will hit peak after recession, says OPEC

Sterling could strengthen in the longer term despite the dire post-Budget predictions for the currency, experts have suggested.
Sterling 'to strengthen in longer term' despite gloom

Insolvencies in the retail sector soared in the first quarter as businesses teetering on a cliff edge before Christmas finally yielded to deteriorating consumer sentiment and a formidable financing environment.
Insolvencies soar 60pc in retail sector

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

AZN UBS: upgraded to buy from neutral, tp raised to 2625 from 2400
CBRY UBS: upgraded to neutral from sell, tp 490
DEB UBS: upgraded to buy from neutral, tp raised to 115 from 60
ROR UBS: downgraded to neutral from buy

* Credit Suisse global equity strategy: upgrades UK to overweight from market weight
* Credit Suisse global equity strategy: cuts US to market weight from overweight
* Credit Suisse global equity strategy: upgrades UK on policy conditions, earnings momentum, cheap sterling, attractive valuations
* Credit Suisse global equity strategy: downgrades US as US stocks expensive relative to their peers, earnings momentum middling

Midday Market Overview

        LUNCH TIME FUN

Rare blue diamond may set new record
A rare blue diamond that could set a record price per carat went on
display in London on Monday, ahead of its sale in Geneva on May 12.

The diamond weighs 7.03 carats and is slightly smaller than a 1p piece.
It is estimated to be worth 3.9m - 5.8m.

Diamond prices have been hit particularly hard and, although it is a
rare and special stone, the auction in Geneva should provide an
interesting insight into the current market.

After plunging since August, diamond prices are now stabilising,
according to data from the International Diamond Exchange (IDEX).
Polished diamond prices in March were just 0.6pc lower than in
February, although this represented a 7.3pc fall compared with March 08.

     

UPS

PDF
mid - 2.20p

Reason - Moving up from a long flat bottom, today volume is picking up. Polished diamond prices are no longer falling and expected to stabilize in 2009. Has recently raise cash to strengthened balance sheet and to get back to the business of diamond development and mining.

GPC

is on the move up this afternoon

ROS 69p +10p
is moving well ahead today after a week of rising, does this mean the end for the moment being?

The Forward Diary link has now been corrected. Apologies for the delay. G.

End-of-day Market Overview