Hello traders!

In the US tonight, the Dow ended up 319.54 points at 13,307.09, while the S&P500
added 41.52 points at 1,480.7 with the Nasdaq Composite ahead 89.52 points at
2,673.65.

See you in the morning with the latest thrilling instalment....

G.

Morning all. Market reports:

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

Goldman Sachs, the feted investment bank and the only major Wall Street firm to have avoided giant losses from the credit crisis, is betting that the chaos in the American mortgage market will continue to get worse. As some of the finance industry's most powerful executives gathered for an industry conference in Manhattan, Lloyd Blankfein, the chief executive of Goldman Sachs, said his firm was still holding to its lucrative bets that the value of mortgage-backed securities will fall.
Goldman Sachs bets credit crisis will worsen

HSBC will reveal more bad debt losses in its US sub-prime mortgage business today. Analysts expect the bank to book another $1bn (480m) when it reports third-quarter figures for its US division on top of the $1.8bn it set aside in March, which triggered the first profits warning in its 142-year history.
HSBC to reveal bad debt losses

Bank of America has become the latest institution to take a massive hit from plunging mortgage bond valuations with the announcement that it will take a $3 billion (1.45 billion) writedown on its portfolio of home loan-backed securities this quarter.
Bank of America to take $3bn hit on mortgages

The dollar has slumped again on fears that the oil-rich Gulf states will ditch their US currency pegs, setting off a massive realignment of the global currency system and a flight from dollar assets across Asia.
Dollar dives on fears Gulf will abandon link

Fears that the US sub-prime crisis and a resurgent yen would squeeze its exports saw Japanese shares post an eighth successive decline yesterday. The benchmark Nikkei 225 index has fallen 15pc over the past month and stocks in Tokyo have fallen more than 20pc since the Japanese market hit a seven-year high in July.
Japan battered by credit whirlwind

Saudi Arabia's oil minister, Ali Al-Naimi, told the world that its dependence on crude will increase and that the race to develop alternative energies will not dim demand for fossil fuel.
Opec confident global oil addiction will grow

The London Stock Exchange yesterday signalled a crackdown on hedge funds and other speculators that break the rules by short-selling Nothern Rock shares without ensuring that they have the stock to sell in the first place.
Stock exchange to crack down on speculators as Rock is lined up for disposal

Macquarie is to set up a London-based stockbroking arm as the Australian financial group seeks to expand its range of activities in Europe. The division will have about 70 staff, including 35 analysts, in the UK and Europe offering what Macquarie executives describe as a research-led service to institutional investors.
Macquarie bets on equity research

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Hang Seng ended the morning up 1,023.63 points at 28,826.98,
while the Nikkei was recently up 334 points at 15,460.39.

Happy trading!

G.

OUTLOOK BoE Inflation Report to cut growth outlook but stay hawkish on inflationOUTLOOK HSBC trading update to throw spotlight on sub-prime exposureOUTLOOK Scottish and Southern Energy H1 seen higher, boosted by G&S earningsOUTLOOK Lonmin FY EBIT to decline as lower sales outweigh higher platinum pricesOUTLOOK Sainsbury has chance to 'rally cause' after collapse of Delta talksTFN UK calendar and forecasts for todayAustralian shares close higher as credit market concerns ease - UPDATETFN economic and business calendar

London shares outlook - up, after rally on Wall Street; Sainsbury, HSBC in focus

The Wednesday Press Roundup

Thomson Financial UK at a glance share guide

BROKERWATCH Rio Tinto cut to 'market-perform' vs 'outperform' at BernsteinBROKERWATCH Wolseley assumed as 'equal weight' at Morgan Stanley; target 650p

UK smallcap opening - Intercede ticks up on speculation of immigrant benefits

STOCKWATCH Friends Provident up on strategic review news, Cazenove 'outperform'

London shares open higher, after Wall Street surge; miners, Sainsbury upUK smallcap opening - Johnson Service higher on Industri Kapital bid talk

STOCKWATCH HSBC climbs after update as mortgage impairments smaller than feared

UK smallcap opening - Consolidated Minerals up as Palmary cranks up offer

STOCKWATCH Land Securities up after results, demerger news; brokers mixed

UK smallcap opening - Nipson Digital off on FY alert; nine-month losses

Metals - LME inventory data (Wednesday)

STOCKWATCH Lonmin higher as FY results beat expectationsSTOCKWATCH J Sainsbury down after results, property JV, Landsbanki 'reduce'UK small caps open sharply higher; Star Energy strong on Petronas bid

Metals - Copper up as equity market strength allays weak demand fears

TFN economic and business calendar UPDATE