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The Traders Thread - Wednesday 29th October (TRAD)     

Greystone - 28 Oct 2008 21:14

Greystone - 28 Oct 2008 21:14 - 2 of 35

Hello traders!

In the US tonight, the Dow Jones closed up a staggering 889.35 points at 9,065.12,
while the S&P500 was ahead 91.59 points at 940.51 and the Nasdaq Composite
gained 143.57 points at 1,649.47.

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

G.

Greystone - 29 Oct 2008 06:37 - 3 of 35

Good morning traders!

In Asia today, the Hang Seng ended the morning up 171.47 points at 12,767.76,
while the Nikkei added 589.98 points to finish at 8,211.9.

Happy trading!

G.

Kyoto - 29 Oct 2008 06:48 - 4 of 35

Morning all. Market reports:

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

US markets bounced back to record their second-best day in history as speculation mounted that world central banks are plotting interest rate cuts.
Wall Street records second-biggest gains in history

The Financial Services Authority is assembling a team of outside advisers to deal with a possible wave of corporate crises in the insurance sector.
FSA assembles crisis team for insurers

Business failures have increased by 28pc in the past three months, with banks forcing more firms into insolvency.
Business failures rocket as banks call in the receivers

The Sports car giant Porsche has pulled off one of the greatest share killings of all time in a coup that has left some of the world's largest hedge funds nursing combined losses that could total $20bn (12.6bn).
Porsche in $20bn 'sting'

Hedge funds have lost as much as 30bn (24bn) short selling carmaker Volkswagen after the shares soared on the revelation that rival Porsche had secured 74pc of the equity and planned to seize control of its rival.
Funds lose 24bn as VW shares take off

After weeks of being buffeted by the storm of global markets, few hedge funds were expecting the shock wave that broke last weekend.
How Porsche took the wind out of the hedge funds' sails

Shares in European and US banks swung wildly today amid rumours that they could be facing huge losses after betting mistakenly on a fall in Volkswagen stock.
Banks spin over Volkswagen share surge

The International Monetary Fund, the European Union and World Bank have agreed to a $25.1 billion (15.6bn) economic rescue package for Hungary to help it cope with the global financial crisis.
IMF agrees to $25.1bn rescue deal for Hungary

The natural annual rate of output decline is 9.1 per cent, the International Energy Agency says in its annual report, the World Energy Outlook, the Financial Times reported.
World oil output declining faster than thought

Nomura, which last month bought Lehman Brothers' operations in London, was last night caught in a spiral of losses and asset write-downs, which it admitted had left the business in crisis.
Japan's largest stockbroker admits crisis as losses mount

Citigroup lowered its price target on E*Trade Financial Corp saying it sees remaining home equity portfolio losses for the U.S. discount brokerage in excess of its existing reserve and a higher probability of a dilutive capital raise. Even after exhausting its current reserve, E*Trade would need to raise close to $1.5 billion, the brokerage said.
Citigroup cuts target on E*Trade

Kyoto - 29 Oct 2008 06:52 - 5 of 35

NIKKEI 225AUSTRALIA ASX200SHANGHAIHANG SENG
t?s=%5EN225t?s=%5EAXJOt?s=000001.SSt?s=%5EHSI
KOSPIVIX
t?s=%5EKS11t?s=%5EVIX

Kyoto - 29 Oct 2008 07:09 - 7 of 35

The Wednesday Press Roundup

Kyoto - 29 Oct 2008 07:29 - 9 of 35

UK AT A GLANCE UK Stocks -- Factors to watch on Oct 29

Kyoto - 29 Oct 2008 09:14 - 13 of 35

STOCKS NEWS EUROPE-Old Mutual, Aviva lead UK gainers
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