Hello traders!

In the US tonight, heading for the close the Dow was down 70.36 points at
12,584.00, while the S&P500 was off 4.97 points at 1,365.21 and the Nasdaq
Composite had dropped 8.29 points to 2,354.46.

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

G.

Morning all. Market reports:

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

The head of the US Federal Reserve has for the first time publicly raised the prospect that the American economy may enter a recession - but stopped short of saying that a recession is already underway.
US recession is possible, admits Fed chairman Ben Bernanke

European Central Bank governor Axel Weber warned that further financial turbulence is likely after banking stocks jumped on hopes that the sector could be turning the corner.
ECB chief Axel Weber warns of more shocks to resurgent banks

The Bank of England's financial markets chief has issued a clarion call for banks and investors to buy up the troubled asset-backed securities at the heart of the financial crisis. It is a "serious puzzle" that no one is buying this "supposedly undervalued" paper, Paul Tucker said, adding that unless these frozen markets restarted soon, the credit crisis would reach a new intensity.
Bank of England urges banks to buy 'frozen' securities

Paul Tucker, a Bank of England monetary policy committee member, moved last night to dampen speculation that the MPC was prepared to cut interest rates sharply.
We must keep inflation genie in the bottle, says MPC member

Price pressures in the manufacturing sector soared in March, with cost inflation at a 13-year high and companies increasing prices at record rates, dampening hopes for an interest rate cut this month.
Higher manufacturing costs depress hopes of interest rate cut

Cash-strapped consumers are raiding their savings accounts and embarking on a borrowing spree as the credit crunch puts household disposable incomes under massive pressure.
Householders in a rush to the bank as big price rises empty their wallets

About 100,000 poeple who bought homes last year with little or no deposit are likely to find themselves in negative equity as soon as September.
Thousands of families at risk of negative equity

Buy-to-let risks being the brick that knocks the housing market down as the one-time can't-lose route to millionaire status unravels. Amateur landlords are facing big jumps in mortgage repayments - assuming they can find a loan as the credit crunch forces lenders out of the market.
Landlords' agony could be contagious

The UK housing market is facing a "painful and severe" fall in value as a lack of bank financing, record low affordability and the prospect of unemployment combine to hit the market.
UK Housing market 'faces painful future'

Polygon, one of London's biggest and best known hedge funds, has introduced special measures to cope with the large number of investors who have asked to withdraw their money. The $8bn (4bn) fund, which has in recent weeks been hit by redemptions, yesterday held a conference call with investors to reassure them that they will not be stopped from redeeming their funds.
Polygon acts over mass redemptions

Pension schemes for the UK's biggest companies had a record surplus at the end of March, figures have shown. The defined benefit schemes of FTSE 100 companies collectively had 40.4bn more than they needed to meet their liabilities at the end of last month, compared with a surplus of 29.2bn in February.
Pension surplus in UK funds tops 40bn

Imperial Energy shares have plummeted after the company conceded it has been forced to embark on an emergency rights issue because the debt markets have seized up. Imperial must make a bullet repayment of its entire $200m loan facility with ABN Amro by November. The company's chairman, Peter Levine, blamed Imperial's inability to secure a refinancing deal on the credit crunch.
Imperial resorts to emergency rights issue

The Office of Fair Trading is expected to impose multimillion-pound fines on 150 construction companies after a bid-rigging investigation into local council contracts worth 3 billion.
Construction companies face OFT bid-rigging fines

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

OUTLOOK Barry Callebaut H1 net seen supported by fresh outsourcing contractsThomson Financial Europe AM at a glance share guide: Stocks, oil mixedTFN economic and business calendar

Good morning traders!

In Asia today, the Hang Seng ended the morning session up 297.06 points at
24,169.49. The Nikkei was recently up 0.9% at 13,313.12.

New York's main oil futures contract, light sweet crude for delivery in May, dropped
22 cents to $104.61 per barrel.

Happy trading!

G.

TFN UK calendar and forecasts for today

Australian shares close higher for fourth day; resources lead

The Thursday Press Roundup

Australian shares close higher for fourth day; resources lead - UPDATE

London shares outlook - flat as Asian gains temper US falls; airlines in focusThomson Financial UK at a glance share guide

BROKERWATCH UK real estate sector cut to 'neutral' vs 'positive' at Lehman

BROKERWATCH Smith & Nephew cut to 'add' at Dresdner Kleinwort, target 730p

BROKERWATCH HBOS upped to 'buy' at Goldman Sachs, Lloyds TSB cut to 'sell'Tokyo shares close higher on easing U.S. worries, Nikkei at 5-week high

UK smallcap opening - Works Media ticks up as director Barker buys more stock

UK smallcap opening - Formjet hardens on narrowing FY losses

STOCKWATCH Severn Trent up as Morgan Stanley upgrades, downgrades Northumbrian

UK smallcap opening - Spiritel lifted by earnings-enhancing dealUK smallcap opening - Image Scan up on China contracts win

UK smallcap opening - Eurasia Mining edges up encouraging drilling results

UK smallcap opening - Inion higher on interim management statementLondon shares open flat as Asian gains temper US fallsLondon shares open flat

STOCKWATCH Sage Group slides as Deutsche Bank cuts to 'hold' on U.S. concerns