Hello traders!

In the US, late in the session, the Dow Jones was up 160.56 points at 11,399.84,
with the S&P500 ahead 10.33 points at 1,255.69 and the Nasdaq Composite
23.99 points better at 2,308.84.

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

G.

Good morning traders!

In Asia today, the Hang Seng was recently up 87.28 points at 21,822, while the
Nikkei was up 50.34 points at 12,938.29.

New York's main oil contract, light sweet crude for August delivery, rose $1.02 to
$130.31 a barrel.

Happy Friday!

G.

Morning all. Market reports:

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

Merrill Lynch heaped further disappointment on its investors last night as the US brokerage reported that another $9.75 billion hit from the credit crunch had driven it to a larger-than-expected $4.6 billion (2.3 billion) group loss in its second quarter.
Merrill Lynch loss reaches a larger-than-expected $4.6bn

JP Morgan Chase released some rare good news from the banking sector as it revealed better-than-expected second-quarter profits. Profit fell by more than half after a $1.1bn (550m) writedown but analysts had predicted a bigger fall and shares rose 4pc in pre-market trading.
JP Morgan profits beat forecasts to cheer sector

The extent of Wall Streets nervousness about how far the US downturn is eroding American corporate profits was laid bare yesterday after Google shares sank by as much as a tenth despite a 35 per cent rise in earnings. At the same time, traders flinched at warnings from Microsoft, the software group, about a tough environment and a difficult internet advertising market.
Google and Microsoft hit by fears over consumer spending

The International Monetary Fund has signalled that Britain is likely to avoid recession, upgrading its economic forecast for both this year and the next. The surprise move came as the Washington-based institution updated its closely-watched economic projections - also sharply increasing its forecast for the US. The Fund raised its estimate for 2008 UK growth from 1.6pc to 1.8pc, and lifted its 2009 projection by 0.1pc points to 1.7pc.
IMF lifts its forecast for UK economic growth over next two years

The global downturn this year and next is set to be less brutal than was previously feared, but dangers to the world economy from faltering growth and mounting inflation still leave it in a tough spot, the International Monetary Fund said yesterday.
IMF plays down fear of global slump

Gordon Brown and Alistair Darling are to attempt to borrow their way out of Britains economic problems by drastically revising the rules that have governed Labours stewardship of the economy for 11 years.
Gordon Brown and Alistair Darling throw prudence to the wind

The Financial Services Authority has provisionally fined Winterflood Securities 4 million, the biggest penalty for market abuse imposed on a regulated financial firm, it emerged yesterday. Winterflood, which is owned by Close Brothers, the investment bank, was fined over share dealings in an AIM-listed company called Fundamental E Investments (FEI) that took place in 2004.
FSA fines Winterflood 4m over market abuse

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

VIX

The Friday Press Roundup

London shares outlook - Lower after Asia turnaround

BROKERWATCH Antofagasta upgraded to 'buy' from 'neutral' at UBS

BROKERWATCH Havas, Prisa cut to 'hold'; WPP upped to 'buy' in Citi media noteThomson Financial UK at a glance share guide

Tokyo shares close lower on caution ahead of U.S. session

BROKERWATCH Unilever & Danone upped to 'hold' in Consumer Goods review at RBS

Tokyo shares close lower on caution ahead of U.S. session - UPDATE

UK smallcap opening - TurfTrax runs back as administrators appointed to unit

London shares open lower after Asia turnaround; banks weigh

UK smallcap opening - ILX rises on upbeat Q1 statement

BROKERWATCH Atos & Dassault 'Least Preferred' in Tech List initiation at UBS

UK smallcap opening - T Clarke higher after trading update

UK smallcap opening - Earthport moves up on Conister Financial deal

UK smallcap opening - Angle adrift as bid talks with Braveheart end

UK small caps open lower; Angle adrift as Braveheart bid talks end

London shares - mid-morning features