Hello traders!

In the US tonight, the Dow was last down 331.17 points at 13,329.77, while the
S&P500 was off 40.8 points at 1,479.47 and the Nasdaq Composite slipped 72.47
points to 2,752.71.

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

G.

Morning all. Market reports:

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

Gold has surged to $846 an ounce on fears of a dollar collapse and signs of spreading credit crisis in the United States, coming within a whisker of the all-time high seen at the end of the 1970s inflation era.

Gold eyes all-time high on currency crisis

Fitch Ratings has threatened to downgrade a clutch of top US bond insurers in a move that could set off a fresh credit crisis and cause contagion across America's $2,400bn (1,150bn) municipal bond market.

Bond insurers set off fresh wave of credit panic

The nightmare on Wall Street intensified last night as Morgan Stanley admitted it may need to take as much as $6bn (2.85bn) in write-downs because of potential wrong-way bets on the sub-prime mortgage market. Morgan Stanley said it will definitely take a $3.7bn write-down in the fourth quarter, but said that it could lose up to $6bn if all of its sub-prime investments go bad.

Morgan Stanley sounds warning of $6bn write-off

Sterling has pushed through the $2.10 barrier for the first time in 26 years after the Chinese government indicated it is prepared to diversify some of its huge foreign-exchange reserves.

Sterling hits $2.10 as dollar is dumped

The French president, Nicolas Sarkozy, has warned the United States Congress that the US risks triggering "economic war" if it attempts to devalue its way out of trouble by allowing a relentless slide in the dollar. The stunning remarks came as the greenback plunged to a record low of $1.4731 against the euro, causing a chorus of angry protests from industrial leaders in France and Italy. The dollar breached $2.10 against sterling for the first time since the early Thatcher years in 1981. On Wall Street the Dow tumbled 246.40 to 13,414.50.

Sarkozy fears 'economic war as dollar slides

Oil prices have inched closer to $100 a barrel just as an international watchdog set out a stark warning that the rapid pace of economic growth in China and India threatened to disrupt energy supplies unless all countries took immediate action to curb demand.

Curbs needed to avoid energy crunch

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Hang Seng ended the morning session down 3.7%, giving up
1,085.44 points to 28,623.49. The Nikkei was 2.6% lower at 15,679.65.

New York's main oil contract, light sweet crude for December delivery, dropped
$1.05 to $95.32 a barrel from $96.37 in US trades Wednesday.

Happy trading!

G.

OUTLOOK International Power 9 mth pretax up on strong European performanceOUTLOOK Rentokil Q3 revenue seen up 20 pct, restructuring steaming aheadOUTLOOK Dairy Crest H1 earnings higher on strong foods performanceOUTLOOK Signet to show slowing underlying sales growth in Q3OUTLOOK BT Q2 seen solid; reorganisation in focusOUTLOOK BoE seen keeping base rate at 5.75 pct but odds of cut shorteningOUTLOOK 3i expected to report 24 pct rise in H1 NAVOUTLOOK Old Mutual nine-month sales expected to rise 11 pctOUTLOOK Man Group H1 profit seen up 15 pctOUTLOOK Siemens Q4 results determined by VDO-sale, all eyes on company structureAustralian shares close sharply lower after heavy selling on Wall StreetTFN economic and business calendar

Australian shares close sharply lower after heavy selling on Wall St - UPDATE

Tokyo shares close at 2-month lows on mounting worry about US credit crisisTFN UK calendar and forecasts for today

*RENTOKIL INITIAL SAYS FY OUTLOOK FOR 2007, 2008 REMAINS UNCHANGED

*MAN GROUP SAYS SALES OUTLOOK 'REMAINS GOOD'

Thomson Financial UK at a glance share guideLondon shares outlook - lower; NY plunges on oil price, weak dollar and GM loss

The Thursday Press Roundup

BROKERWATCH Sainsbury restarted as 'equal-weight' at Morgan Stanley; tgt 464p

Tokyo shares close at two-month lows on worry about credit crisis in US - UPDATE

UK smallcap opening - Condor up on El Cacao significant mineralisation hopesUK smallcap opening - NXT rises on 77.7 pct valid acceptances for open offer

FTSE opens session sharply lowerUK smallcap opening - Ultrasis climbs on BUPA contract winUK smallcap opening - Pure Wafer slides on full year numbers woes

UK smallcap opening - Character Group down on Bindeez toy withdrawal

IHP results

Sales up 78% to 740,557 (2006: 416,379)
Gross profit up 104% to 530,498 (2006: 259,732)
Losses for the period reduced to (149,111) (2006: (315,825))

UK smallcap opening - China Medstar gains on finance lease licence winLondon shares open sharply lower after Wall Street plunge overnight

STOCKWATCH Man Group lower as capital return plans disappointUK smallcap opening - Angel Biotech rises on contract extension boostUK smallcap opening - Delek Global down on rules breach embroilment

STOCKWATCH Rentokil Initial down, mkt weakness offsets results; brokers positiveSTOCKWATCH 3i higher as H1 results beat expectationsUK small caps open lower; Pure Wafer down on full year numbers woes