Hello traders!

In the US tonight, the DJIA was down 150.38 points at 12,139.38 at last check,
with the S&P500 off 15.07 points at 1,343.37 and the Nasdaq Composite 37.53
points lower at 2,411.41.

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

G.

Good morning traders!

In Asia today, the Nikkei ended the morning session down 321.78 points at
13,861.7, while the Hang Seng was recently down 624.69 points at 22,702.91.

New York's main oil futures contract, light sweet crude for July delivery, was $1.12
lower at $135.26 a barrel after trading as high as $136.99 in the morning.

Happy trading!

G.

OUTLOOK Home Retail Group's Homebase Q1 sales seen slumpingTFN economic and business calendarThomson Financial Europe AM at a glance share guide: Stocks fall as oil rises

London shares outlook - weaker as NY closes lower; Carphone Warehouse in focus

BROKERWATCH BP upped to 'equal-weight' vs 'underweight' at Lehman BrothersThe Thursday Press Roundup

Morning all. Market reports:

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

Strike action by thousands of Spanish and Portuguese truckers produced ominous knock-on effects on food supplies, aviation and industry yesterday, as Lisbon airport ran out of fuel, car factories shut down and petrol stations and supermarkets reported shortages. In a worrying sign for other European countries that face rising discontent at the spiralling cost of diesel, a third day of strikes generated widespread mayhem and the mood turned ugly after the first casualties of the standoff: two strikers died in clashes on picket lines.
Factories close, supermarkets empty and jets run out of fuel as truckers' strike bites

US banking stocks hit a five-year low yesterday, as the financial markets remained jittery following Lehman Brothers news on Monday that it needs fresh capital. The market was also reacting to rumours that Goldman Sachs would report a hefty second-quarter writedown on its portfolio of mortgage-related investments on Tuesday.
US bank stocks driven down to five-year lows

Inbev, the maker of Stella Artois, has launched an audacious $46.9bn (23.9bn) takeover bid for the USs biggest brewer and Budweiser owner Anheuser-Busch.
Inbev in $46bn bid for Budweiser owner Anheuser-Busch

The world is not running out of oil and can continue to produce hydrocarbons for the next 40 years provided restrictions on where companies can operate are lifted, the head of BP said yesterday.
Production decline does not mean oil is running out, says BP

It was not clear precisely what pushed HBOS shares under water yesterday but rumours of a large hedge fund collapse were circulating. All UK bank stocks were hit by a sudden sell-off two hours before the market closed, raising speculation that a hedge fund had had to liquidate its positions.
HBOS golden boy Andy Hornby under pressure over rights issue

Morgan Stanley and Dresdner Kleinwort are facing a 4bn bill for underwriting HBOS's rights issue after shares in the Halifax owner collapsed below the price of the planned cash call yesterday.
Banks face 4bn bill after HBOS shares dive

Thousands of people will lose their jobs over the next two years as the deepening economic downturn forces more companies to cut staff, City experts said yesterday.
Fears of widespread job losses grow as unemployed figures rise sharply

High street retailers were battered yesterday as City analysts, worried that the economy is heading for recession, slashed their profit and price targets.
Gloom hovers over high street as shoppers feel the pinch

The main City watchdog yesterday signalled its concern that a third day of heavy selling of shares in Britain's housebuilders was a deliberate attempt to undermine the sector.
City watchdog to scrutinise housebuilders after third day of heavy share selling

Britain's housebuilders will soon be required to declare buyers' incentives to ensure that lenders are able to offer mortgages that reflect the true value of a property.
Housebuilders must disclose buyers' incentives

Brussels has launched disciplinary action against Britain for a deliberate breach of the EU's rules on public spending, saying the budget deficit will surge far above Maastricht Treaty limits this year. In a blistering attack on UK public accounts, the European Commission said that large liabilities are being kept off the books and warned that it was far from clear whether Gordon Brown's fiscal blitz "will actually lead to a real improvement in the efficiency of public spending".
European Commission in crackdown on 'overspending' Britain

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

BROKERWATCH Vedanta Resources upgraded to 'buy' from 'neutral' at Goldman Sachs

BROKERWATCH J Sainsbury upped to 'hold' from 'sell' at Deutsche BankThomson Financial UK at a glance share guide

13:30 US Initial Jobless Claims (consensus 370K)
13:30 US Continuing Jobless Claims (consensus 3118K)
13:30 US Import Price Index May (MoM consensus 2.5%, YoY 17.2%)
13:30 US Advance Retail Sales May (consensus 0.5%)
14:00 US Business Inventories April (consensus 0.3%)

BROKERWATCH ICAP started with 'hold' at Deutsche Bank, target 610 pence

BROKERWATCH VT Group upgraded to 'buy' from 'hold' at ABN Amro

BROKERWATCH Centrica keeps 'outperform' on Credit Suisse, target 425p vs 420pTokyo shares close sharply lower on inflation worries

BROKERWATCH HMV target price lifted to 115p from 85 at Morgan StanleyBROKERWATCH Johnson Matthey price target upped to 1,770 pence at Credit SuisseAustralian shares close at two-month low on economic concerns

STOCKWATCH Home Retail down at five-year low after Homebase Q1 sales fallAustralian shares close at two-month low on economic concerns - UPDATEUK smallcap opening - Environmental Recycling runs back on funding worries

UK smallcap opening - Meridian Petroleum up on drilling report, acquisition move

London shares open higher; banks firmer; Carphone Warehouse falls after results

UK smallcap opening - Proteome Sciences climbs on patent newsTokyo shares close sharply lower on inflation worries - UPDATE

UK smallcap opening - NXT firms on Toyota deal

BROKERWATCH Platinum miners target prices raised by Investec Securities