Hello traders!

Up more than 180 points early on, the Dow Jones Industrial Average was more
recently ahead 146.9 points, or 1.1%, to 13,395.6.

The S&P 500 gained 14.32 points, or 1%, to 1,477.11 while the technology-heavy
Nasdaq Composite advanced 40.13, or 1.5%, to 2,659.96.

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

G.

Morning all. Market reports:

Telegraph
The Times
FT
The Guardian
The Independent
This is Money

The pound has had its worst day in three-and-a-half years, after a double-whammy of bad economic news led economists to conclude an interest rate cut is now an odds-on probability.
Sterling plunges as markets bet on rate cut

The Bank of England is under intense pressure from home owners, economists and business leaders to cut interest rates today following the third successive monthly fall in house prices.
Fall in house prices adds to rate cut calls

President George W Bush is set to announce a landmark plan today aimed at bailing out hundreds of thousands of US homeowners who are struggling to meet mortgage repayments. The plan, which sees the Bush administration working hand-in-hand with the mortgage industry, will essentially freeze interest rates on certain sub-prime loans for the next five years in a bid to halt the rise in mortgage deliquencies and subsequent write-downs at some of the world's largest banks.
President Bush plan for credit crunch victims

MBIA, the world's largest bond insurer, is at a greater risk of a capital shortfall than previously believed, according to a review by ratings agency Moody's Investor Services. Shares in MBIA, which guarantees $652bn (322bn) of state, municipal and structured finance bonds, tumbled on the warning, down almost 16pc to close off $5.15 at $27.48, its biggest fall in more than 20 years.
MBIA 'likely to have capital shortfall'

The combined loss suffered by Wall Street banks on bonds backed by high-risk sub-prime mortgages could more than double to about $110 billion (54 billion) after Moodys, the ratings agency, gave warning that Americas biggest bond insurers were somewhat likely to run short of funds.
Wall Street's sub-prime loss could soar as bond insurers face shortfall

Royal Bank of Scotland has been dragged into an investigation into whether underwriters of mortgage-backed bonds turned a blind eye to the possibility that many of the securities underlying home loans were facing default. Andrew Cuomo, the New York attorney-general, has subpoenaed RBS and about 15 of Wall Streets biggest sub-prime mortgage bond underwriters, such as Bear Stearns and Merrill Lynch, requesting information that will help to determine how much due diligence was conducted on the home loan-backed securities that they issued.
RBS named as inquiry into sub-prime bonds gathers pace in America

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

Good morning traders!

In Asia today the Nikkei was last up 266.48 points at 15,875.36, while the Hang
Seng was ahead 255.73 points at 29,601.18 at the midpoint.

New York's main oil contract, light sweet crude for January delivery fell 69 cents to
$86.80 a barrel from $87.49 in late US trades Wednesday.

Happy trading!

G.

FOCUS Alitalia unlikely to attract Air France-KLM, Lufthansa bidsOUTLOOK Royal Bank of Scotland to disclose credit crunch impactTFN economic and business calendarAustralian shares close sharply higher on hopes of US subprime crisis easingThomson Financial Europe AM at a glance share guide: Stocks rise, oil mixed

TFN UK calendar and forecasts for today

Tokyo shares close higher on weaker yen, Wall Street gains; Nikkei at 4-wk highAustralian shares close higher on hopes of US subprime crisis easing - UPDATE

The Thursday Press Roundup

London shares outlook - firmer ahead of key BoE rate decision, RBS to update

Thomson Financial UK at a glance share guide

BROKERWATCH Hammerson upped to 'overweight' in Lehman UK real estate outlookBROKERWATCH Carphone Warehouse cut to 'hold' in Deutsche Bank sector review

Tokyo shares close up on weak yen, Wall St gains; Nikkei at 4-week high - UPDATE

UK smallcap opening - IncaGold slides on trading warning, seeking funds

STOCKWATCH RBS charges ahead, write-downs less than expected

STOCKWATCH Fortis rises as analysts welcome RBS trading updateUK smallcap opening - Alexon retreats on FY profits warningLondon shares open higher, RBS surges after reassuring on write downs

UK smallcap opening - Avanti Screenmedia down on swing to FY losses

UK smallcap opening - Bionostics soars on agreed 30 pence a share cash offer

Metals - Gold dips as dollar firms, oil falls

STOCKWATCH BskyB lower, target cut to 750p from 800 at ABN AmroSTOCKWATCH Dassault Aviation higher on talk of Rafale order from LibyaBROKERWATCH Bradford & Bingley cut to 'sell' from 'neutral' at Goldman SachsUK smallcap opening - Theo Fennell climbs on H1 profits increase; new CEO

UK smallcap opening - International Ferro up on operations update