Hi traders,

Hope you all have a good week.

The weekend press suggests another winning week for the shorters....with retail
and banking the sectors in focus.

Hope you find some opportunities there.

Thanks to our stalwart regular posters. (With the exception of Supermum who is
still enjoying the dubious delights of Las Vegas....and didn't invite me!) ;)

See you Monday morning with the latest...

G.

Good morning traders!

In Asia today, the Hang Seng ended the morning session 310.4 points higher at
24,843.52, while the Nikkei was recently up 31.3 points at 14,369.84.

New York's main oil futures contract, light sweet crude for July delivery, slipped 4
cents to $127.31 per barrel.

Happy trading!

G.

Morning all. Market reports:

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

Saturday

Inflation in the European single currency area jumped to 3.6 per cent during May, up from 3.3 per cent in April. The figure matches the 16-year high seen in March and was slightly above market expectations.
Eurozone inflation at 16 year high

The system for setting the benchmark rate that underpins mortgage, bond and derivative contracts around the world will not be changed despite growing concerns about its credibility.
Libor won't be changed, says BBA

US blames 'speculation' for high oil price, but speculation is how a proper, legal, financial market works, executive says.
After US attack over oil price, traders and commodity exchanges fight back

Accusations of price manipulation in the soaring market for jet fuel are among dozens of allegations being investigated by commodities regulators in the United States, where the public and politicians have rounded on "speculators" for driving up the cost of oil and everyday inflation.
Regulator investigates 'market manipulation' by jet fuel speculators

Silverjet's chief executive has blamed City analysts rather than the rocketing oil price for the collapse of the all-business class airline.
Silverjet 'killed by analysts, not oil prices'

Northern Rock plans to double the number of staff looking after its mortgage book as it gears up to deal with more customers having trouble paying off loans in the worsening economic climate.
Northern Rock doubles debt management staff

Sunday

Two leading US politicians are pushing for tighter controls on London's oil community by handing the American Commodity Futures Trading Commission (CFTC) a remit to regulate trading on foreign energy exchanges.
US Senators seek curbs on London trading in oil futures

Oil prices could hit $200 a barrel in the next few months. How the spike changes everything.
The Coming Energy Wars

Homeowners are likely to get little respite from high borrowing costs this week, with City economists predicting that the Bank of England will keep interest rates on hold when its rate-setting Monetary Policy Committee meets on Thursday.
Bank set to keep base rate at 5% as inflation continues to rise

As banks look to shore up their balance sheets in the wake of the credit squeeze, Philip Aldrick asks whether it is all short-term trickery.
Banks' credit crisis solutions have echoes of 1929 Depression

Steven Crawshaw, Bradford & Bingleys embattled chief executive, will shock the City this week by stepping down as the bank issues a profit warning.
Bradford & Bingley's Steven Crawshaw to step down following rights U-turn

City traders are betting almost 6bn that the value of UK retail shares is set to fall, underlying just how pessimistic the outlook is for Britain's beleaguered high street chains. Short sellers have staked 5.7bn on disappointing news pushing down the share prices of the 21 retailers in the FTSE 350, which include Marks & Spencer, Tesco and Next. This means that 8 per cent of all shares in the retail sector are now held by short sellers, according to Data Explorers.
Short sellers bet 6bn against retailers

Shoppers are relying on store cards or reverting to cash as they try to keep their heads above water, says Debenhams chief executive Rob Templeman. 'We are seeing a lot more cash purchases and the number of store card transactions is moving up,' he said.
Crunch-hit consumers turning to store cards

Monday

For Britain's beleaguered banking sector, the timing could hardly have been worse. For Bradford & Bingley to turn to TPG is a stunning move considering that just a few weeks ago the UK bank was telling investors it had no need to raise cash.
Steven Crawshaw's departure from Bradford & Bingley taints banks' rights issues

The Bank of England should raise borrowing costs to 5.25pc at its meeting this week, says one of its leading former policy-makers.
MPC founder Willem Buiter calls for interest rate rise

Britain's manufacturers today provide the government with some rare good news on the economy when they report that strong growth in exports to the Middle East and China has given the sector a 10th successive quarter of growth.
Manufacturers stay upbeat as exports rise

A recorded conversation between two traders is helping to shape the rules that govern global energy futures markets.
Commodity Futures Trading Commission takes aim at oil price manipulation

After years of stagnancy, the recovering economy has avoided the sub-prime crisis.
Japan continues climb out of lost decade

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

OUTLOOK - UK companies results for 2 weeks to June 13TFN UK calendar and forecasts for todayThomson Financial UK at a glance share guide - weekendTFN economic and business calendar to Friday June 13Thomson Financial Europe AM at a glance share guide: Shares, oil mixed

The Monday Press Roundup

09:00 EU PMI Manufacturing May
09:30 UK Mortgage Approvals April
09:30 UK Net Consumer Credit April
15:00 US ISM Manufacturing May (consensus 48.5)
15:00 US Construction Spending (consensus -0.7%)

Thomson Financial UK at a glance share guideLondon shares outlook - Lower; Bradford & Bingley set to unveil TPG stake move

Australian shares close higher on gains in resources stocks

BROKERWATCH JC Decaux initiated as 'underperform' at Credit Suisse

Tokyo shares close higher; banks, financials rebound as U.S. worries ease

BROKERWATCH Oilexco started as 'overweight' at Morgan Stanley

BROKERWATCH European Telecos upped to 'neutral' vs 'underweight' at JP Morgan

STOCKWATCH Vedanta lower following Sterlite unit agreement to buy Asarco

London shares open lower; DJIA weaker; banks weigh as B&B unveils TPG stakeAustralian shares close higher on gains in resources stocks - UPDATE

UK smallcap opening - Idox up; sees H1 profit 'materially ahead' of expectations

UK smallcap opening - Ramco rises; new unit to exploit offshore wind farms

Tokyo shares close higher; banks, financials rebound as U.S. worries ease UPDATE