Hello traders!

In the US tonight, the Dow was last trading up 337.44 points at 13,296, while the
S&P500 was ahead 40.77 points at 1,469 and the Nasdaq Composite gained 82.11
points at 2,662.91.

See you in the morning for another exciting episode....

G.

Morning all. Market reports:

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

Companies in Britain and Europe have failed to place a single high-yield bond since the credit crunch kicked off in August, and may now have to wait until next year before the credit market reopens for business.
Temperature falls to freezing for junk bonds

Hopes of an imminent interest rate cut appeared to fade last night after Andrew Sentance, member of the Bank of England's monetary policy committee, sounded caution over the inflationary pressure of the rising oil price.
Rate cut hopes fade on inflation warning

Fears are growing that Alliance & Leicester will resort to a fire sale of assets to shore up its funding position as the credit crisis escalates. Analysts claim to have spotted "warning signs" that indicate the high street bank is suffering from a liquidity squeeze.
Fears of fire sale at Alliance & Leicester

Britains 700 billion commercial property market will have lost about 12 per cent of its value between September and the new year, marking the bottom of the market and triggering a new wave of buyers next year, one of Britains largest property fund managers said yesterday.
Schroders calls bottom of property market

House prices in Britain are overvalued by about 30 per cent, the HSBC said yesterday, sounding the alarm that the property market could suffer a similar slump next year to that experienced in the US.
Bubble to burst for 30% overvalued homes

Fears that the credit squeeze will hit the housing market were reignited on Wednesday after a warning that rising borrowing costs are leaving banks struggling to find the money to fund new mortgages.
New fears for UK housing in credit collapse

The weak dollar used to be an economic issue. But the greenback has now dropped so far, and has so much further to fall, that its decline is of profound political importance.
Bet your bottom dollar tensions will follow

Opec said yesterday that it was planning to pour $150 billion (72.4 billion) over the next five years into more than 120 projects intended to boost oil output.
Opec plans to spend $150bn over five years to raise output

OUTLOOK Bradford & Bingley to reassure on fundingOUTLOOK United Utilities H1 ordinary dividend cut seen after latest asset saleOUTLOOK Kingfisher Q3 retail profit seen 3 pct lowerOUTLOOK Mitchells & Butlers to update on progress of property plansTFN economic and business calendarAustralian shares close higher on expectations of US rate cut - UPDATEThomson Financial Europe AM at a glance share guide: Stocks surge; gold mixed

Good morning traders!

In Asia today, the Nikkei closed up 359.96 points at 15,513.74, while the Hang
Seng ended the morning up 1,121.83 points (4.1%) at 28,493.07.

New York's main oil contract, light sweet crude for January delivery, rose 91 cents
to $91.53 from $90.62 in late US trades Wednesday.

Happy trading!

G.

TFN UK calendar and forecasts for today

The Thursday Press Roundup

London shares outlook - slightly higher, after US rally, Kingfisher update due

Thomson Financial UK at a glance share guide

BROKERWATCH Corp Dermoestetica downgraded to 'neutral' from 'buy' at UBSSTOCKWATCH Fortis seen opening higher on Ping An deal

BROKERWATCH Wolseley upgraded to 'neutral' at Credit Suisse; cuts target to 610p

STOCKWATCH MLP up pre-bourse after investor Harris raises stake above 10 pct

UK smallcap opening - Erinaceous slides amid share dilution fears

STOCKWATCH Fortis opens sharply higher on Ping An deal UPDATEUK smallcap opening - SkyePharma dips on Ebsworth resignation

STOCKWATCH Alliance & Leicester sharply higher after liquidity reassurancesUK smallcap opening - Photo-Me plunges on FY profits warning

STOCKWATCH Bradford & Bingley higher post update; remains 'in-line' at CazenoveLondon shares open higher, after Wall Street surge, Kingfisher and banks riseUK smallcap opening - Network Data adrift on FY results warning

UK smallcap opening - Delcam drops on FY profits warning

FOCUS Heineken, Carlsberg hostile bid on S&N possible; BBH spat random elementUK smallcap opening - IQ Holdings makes satisfactory AIM debut

UK smallcap opening - Nature Technology up on proposed sale of Gibraltar JV

BROKERWATCH HSBC cut to 'sell' from 'hold' by ABN Amro; target cut to 700 pence

UK smallcap opening - Alba higher as H1 losses narrowUK smallcap opening - AssetCo boosted by bullish H1 statement