Hello traders!

In the US tonight, the Dow closed off 20.4 points at 13,892.54, while the S&P500
was up 2.71 points at 1,541.24 and the Nasdaq Composite ahead 28.76 points
at 2,792.67.

See you in the morning with more....

G.

Morning all. Market reports:

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

The credit crunch could easily persist for months even if the Bank of England takes drastic action to pump more cash into the financial system, the International Monetary Fund has warned.

IMF says credit crunch may persist for months

A rate cut in November is a "genuine possibility" say economists, after it emerged one member of the Bank of England's Monetary Policy Committee voted for a cut earlier this month.

November rate cut on the cards

For the first time in modern history, China will next year contribute more to global economic growth than the United States.

Chinese growth 'to overtake US'

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

OUTLOOK - DSG International H1 focus on PC World, UniEuro woesOUTLOOK Synthes Q3 sales seen higher yr-on-yr on spine, trauma demandTFN economic and business calendarThomson Financial Europe AM at a glance share guide: Shares, oil trade mixed

TFN UK calendar and forecasts for today

London shares outlook - firmer as Dow closes off lows; M&A talk reignited

Thomson Financial UK at glance share guide

BROKERWATCH Liberty upped to 'overweight' vs 'underweight' at Morgan Stanley

CITE could be a flyer today, forced seller saw a plunge yesterday but they started recovering quickly and finished 14-15p. Panmure has a price of 40p on the stock or 3 times current value!! More below:

Citel was also a notable faller, off 22-1/2 pence at 14-1/2 after the group said it is unlikely to meet full year market forecasts, prompting Panmure Gordon to lower its target price on the stock to 40 pence from 56 pence, while keeping its 'hold' rating on the internet-telephony provider.
In a trading update published today, Citel said its full year results warning was prompted by the difficulty in predicting the timing of benefits of its selling efforts.
Panmure Gordon noted that while traction has been demonstrated with Citel's Portico Telephone VoIP Adapter product in the first half, revenue came in behind its expectations



"a sudden plunge in the shares of telephony tiddler Citel had dealers perplexed. The shares which had fallen 3 pence earlier in the day following a trading statement suddenly fell 75% before bargain hunters moved in. Panmure Gordon has a fair value price of 40 pence on the stock against a current price of just 14 1/2 pence and maintains its 'hold' recommendation".

Tokyo shares close up on bargain hunting, Nikkei returns to 17,000 level

Australian shares close sharply higher with BHP Billiton at record high

First Day of Dealings

BROKERWATCH BG Group cut to 'neutral' from 'overweight' at JP Morgan

BROKERWATCH Accor, InterContinental Hotels started 'overweight' by Lehman

UK smallcap opening - Tribal Group up as profit rises, debt fallsUK smallcap opening - Mothercare up as sales rise, boosted by ELC

London shares open firmerAustralian shares close sharply higher with BHP Billiton at record high - UPDATELondon shares open firmer after Dow pares losses; oils and metals pace gainers

Tokyo shares close up on bargain hunting, Nikkei returns to 17,000 - UPDATEUK smallcap opening - Media Corporation up on return to profit

UK smallcap opening - SMC dives after offer talks end

STOCKWATCH Inbev lower after yesterday's rise on M&A talk

UK smallcap opening - Trading Emissions up as profit surgesUK smallcap opening - Accuma rallies despite profit dip