Morning all. Market reports:

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

Oil prices surged to an unprecedented high in late trading yesterday, settling above $100 a barrel and prompting a new round of concern about the effect of high fuel costs on the health of the global economy.
Oil price breaks through $100 a barrel

Inflation fears and a weakening dollar saw commodity prices hit new records yesterday as investors moved into a broad range of hard assets as protection against rising prices.
Weak dollar pushes metal and oil prices hit record highs

The world's two largest bond insurers are taking drastic steps to close their doors to risky products involving sub-prime bonds as the latest victims of the US mortgage crisis attempt to draw up survival plans.
Bond insurers take steps to close sub-prime bonds

A member of the Bank of England's Monetary Policy Committee has indicated that further weakness in the economy caused by the credit crunch could lead the Bank of England to ease rates faster even in the face of inflation "considerably above the 2 per cent target for much of the rest of 2008".
MPC 'dove' highlights fears over falling house prices

"A prolongation of the present difficulties in accessing wholesale funds could restrict the quantity of mortgage lending during 2008. In this case the mortgage market could become less competitive and more expensive, feeding back into a decline in the housing market, somewhat lower consumer spending, and also into lenders' balance sheets, reducing lending capacity further."
BoE's housing expert warns of shock rise in mortgage bills

Thousands of borrowers on 125 per cent mortgage deals will be forced to pay hundreds of pounds more in monthly repayment bills after most of the lenders offering these loans withdrew from the market yesterday.
Borrowers on 125% home loan deals face big jump in repayments

Mortgage lenders are set to stop selling 125 per cent home loans in a move which could leave thousands of homeowners in dire straits.
A&L, Abbey, Coventry and Godiva to pull 125% mortgages

Credit Suisse, the Swiss investment bank, suspended a small group of London traders led by Kareem Serageldin yesterday after revealing a shock $2.85 billion (1.5 billion) asset writedown that will wipe $1 billion off first-quarter profits.
UK traders suspended after 1.5bn Credit Suisse loss

Barclays president Bob Diamond is preparing an assault on Wall Street's biggest investment banks after the British lender emerged relatively unscathed from the credit crunch.
Buoyant Barclays eyes Wall Street's investment banks

Barclays is planning an assault on the United States to capitalise on the vacuum left by damaged American investment banks as it revealed a sub-prime writedown that was smaller than expected yesterday.
Barclays wont flinch in plans for US assault as it contains writedowns

A row has broken out between the London Stock Exchange and accountancy giant Deloitte over foreign listings in the UK. In a new research report, Deloitte raised concerns about the financial strength of foreign companies issuing global depositary receipts (GDRs) in London.
LSE and Deloitte in foreign listing row

China's headline inflation rate continued to rise last month to an 11-year record of 7.1pc, putting more pressure on export prices as well as on the government's macroeconomic managers.
Chinese inflation surge adds to rates pressure

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

OUTLOOK Anglo American FY earnings to rise on weaker rand, higher metal pricesOUTLOOK Rexam FY underlying profit down 8.3 pct on decline in Plastics PackagingOUTLOOK Alliance & Leicester FY profit seen 29 pct lowerOUTLOOK Heineken H2 net profit growth slowed on higher costs, poor weatherTFN economic and business calendarAustralian shares close sharply lower on inflation concerns

Good morning traders!

In Asia today, the Nikkei enxed down 447.54 points at 13,310.37, while the Hang
Seng reached midway down 390.09 points at 23,733.08.

New York's main contract, light sweet crude for delivery in March was down 52
cents to $99.49 per barrel.

The contract soared to an all-time intraday high of $100.10 a barrel before closing
up $4.51 at a record $100.01 on the New York Mercantile Exchange.

Happy trading!

G.

Australian shares close sharply lower on KKR report, inflation concerns UPDATE

TFN UK calendar and forecasts for today

Tokyo shares close sharply lower on record oil price, KKR report

London shares outlook - lower after NY ends down; Alliance & Leicester FY due

The Wednesday Press Roundup

Thomson Financial UK at a glance share guide

Tokyo shares close sharply lower on record oil price, KKR report - UPDATE

BROKERWATCH Anglo American, BHP Billiton, Rio Tinto targets upped at Lehman Bros

First Day of Dealings

BROKERWATCH Home Retail Group upped to 'neutral' at JP Morgan in sector reviewSTOCKWATCH Kingfisher lower; cut to 'underweight' vs 'neutral' at JP MorganLondon shares open lower after NY ends down; Alliance & Leicester drops on FY

STOCKWATCH Millennium & Copthorne up after results; Landsbanki retains 'buy'

BROKERWATCH Wolseley cut to 'underperform' at Credit Suisse, target reducedBROKERWATCH Sesa Goa initiated with 'buy' at Motilal Oswal

STOCKWATCH Rexam up as results beat expectations; Seymour Pierce ups to 'buy'UK smallcap opening - Vernalis rises on loan settlement, management changes

UK smallcap opening - Greatland Gold moves up on exploration update

UK smallcap opening - Pan African firms on SEMS earn-in deal

STOCKWATCH Bayer lower on Novartis haemophilia drug patents lawsuitSTOCKWATCH Anglo American shares fall after results; JP Morgan keeps 'neutral'