Morning all. Friday's market reports:

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

Saturday

The price of British-made goods fell at the sharpest pace since 2001 in June as manufacturers endured dwindling demand. Factory gate prices fell by 1.2 per cent in the year to June four times larger than the 0.3 per cent decline recorded for May, suggesting that inflation is set to tumble further.
Lower factory prices point to new fall in inflation

Global demand for oil is poised to rebound sharply next year, led by booming consumption in developing countries including China, India and Indonesia, the International Energy Agency (IEA) said today.
Global oil demand to rebound sharply in 2010

We need more not fewer oil traders. The economic disruption caused by oil's volatility has been so vexing that the Obama Administration believes it can stabilize prices by regulating speculators out of the market. It can't.
Why There Should Be More Oil Speculation, Not Less

This news story contains many very important sub-plots: trading espionage, the necessity for a trading firm to have sophisticated security systems built around its technology, the requirements for risk management, and even the potential for proprietary trading software to be targeted on a wider scale for terrorist activity; but more than anything else it highlights the critical role played by high frequency prop trading in this new market.
The Cold War in high frequency trading turns hot

Sunday

In calculations that will spark further criticism over the state of the public finances, an IMF paper presented to world's leaders has laid bare how the UK's indebtedness has left it unable to provide the vital stimulus the economy could need over the next 18 months.
UK can't afford another fiscal rescue, warns IMF

Britain's economic crisis is still with us and is going to worsen. Some unpleasant medicine will have to be taken.
Britons will be poorer in coming decades

Vital sections of society could be paralysed if swine flu reaches epidemic proportions as expected, the government has been warned.
Swine flu could bring UK to a halt, Whitehall told

Pirc, the investor action group that last week tried to force the early resignation of the Marks & Spencer's chairman, has formed 100 subsidiaries to launch assaults on other quoted groups. Each vehicle will own a single share in the target groups, giving the necessary base to plant resolutions at annual shareholder meetings.
Pirc rears 100 Trojan horses to upset AGMs

Monday

UK Financial Investments (UKFI), the body that controls the Government's banking stakes in Royal Bank of Scotland (RBS) and Lloyds Banking Group, is expected to say that there will be no quick exit for the taxpayer.
UKFI to publish strategy for banks

The European Central Bank preens as the last guardian of virtue in a sinful world, yet its actions are devastating the public finances of almost every country under its care.
Europe digs its economic grave while the ECB answers to no one

The Chinese president Hu Jintao personally endorsed the investigation into Rio Tinto that led to the arrest of the mining giant's Australian iron ore executive, according to Australian media reports.
China president endorsed Rio Tinto probe

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

ABF RBS: downgraded to sell from hold, tp cut to 685 from 705
AML KBW: downgraded to underperform from market perform, tp raised to 355 from 340
AU. UBS: upgraded to buy from neutral
BEZ KBW: tp cut to 165 from 180
BRE KBW: downgraded to underperform from market perform, tp cut to 220 from 240
CGL KBW: downgraded to market perform from outperform, tp cut to 420 from 460
EMG UBS: upgraded to neutral from sell, tp raised to 245 from 212
HSX KBW: downgraded to underperform from market perform, tp raised to 345 from 335
IMI UBS: downgraded to neutral from buy
ISYS UBS: upgraded to buy from neutral
ITV UBS: upgraded to buy from neutral, tp reiterated 37
OML UBS: upgraded to buy from neutral
RBS UBS: upgraded to neutral from sell, tp raised to 40 from 35
SGRO HSBC: upgraded to overweight from underweight
VOD SocGen: reiterated sell, tp cut to 100 from 110

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