Good morning traders!

In Asia today, the Hang Seng ended the morning down 9.27 points at 22,523.63,
while the Nikkei reached the midpoint up 165.31 points at 12,969.01.

In early Asian trading, oil had eased slightly to $130.37 a barrel.

Happy trading!

G.

Morning all. Market reports:

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

The scale of public alarm about the economy is revealed today by a Guardian/ICM poll that shows an overwhelming majority of voters think Britain is heading into recession. As a result, 60% are trying to spend less, with clothes and fuel costs heading the list of cutbacks.
Economy: 80% fear we are heading for recession - ICM poll

The City watchdog has laid out plans to allow banks to tap the Bank of England for emergency funding without informing the market, in a move which might avoid a repeat of the run on the bank which led to the collapse of Northern Rock.
FSA unveils plans for banks to seek secret emergency funding

The investment banks underwriting HBOSs 4 billion rights issue took a 100 million paper loss yesterday after the closure of one of the Citys least popular capital-raisings. Dresdner Kleinwort and Morgan Stanley were left with about 2.5 billion of stock when existing HBOS shareholders bought only 8.2 per cent of the 1.5 billion new shares offered by the bank at 275p.
HBOS underwriters hit with 100m paper loss

Hedge funds may have made more than 1bn from shorting shares in HBOS, whose 4bn rights issue faced intense pressure from investors betting on the share price falling.
Hedge funds' 1bn HBOS killing

Paragon, the struggling UK mortgage lender, is in talks with Blackstone about a potential takeover, indicating that private equity groups are still keen to invest in the UK mortgage market, despite the crisis it has suffered.
Paragon in takeover talks with Blackstone

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

VIX

13:10 US Henry Paulson speaks
15:00 US Richmond Fed Manufacturing Index July (consensus -9)
15:00 US House Price Index May (MoM consensus -0.6%)
22:00 US ABC Consumer Confidence (consensus -42)

*VODAFONE GROUP SEES REV OUTLOOK LOWER ON ECONOMIC WEAKNESS, EQUIPMENT REV*SEVERN TRENT SAYS ECONOMIC CLIMATE REMAINS RISK TO OUTLOOK*VODAFONE GROUP SEES REVENUE AROUND BOTTOM OF OUTLOOK RANGEThe Tuesday Press RoundupLondon shares outlook - Down after Apple, American Express outlooks; NY lower

Thomson Financial UK at a glance share guide

Tokyo shares close sharply higher as credit worries ease; Nikkei above 13,000

Australian shares close slightly lower on weak banks, resources rise

UK smallcap opening - Network Data plunges on FY results warning

UK smallcap opening - Myhome slides on breach of covenants; equity issue fears

STOCKWATCH Enterprise Inns down on trading statement; Landsbanki stays 'hold'

UK smallcap opening - Supporta lower as Romac terminates offer talks

London shares open lower after Apple, Amex earnings, and oil price gains

STOCKWATCH Great Portland Estates down on NAV fall; Arbuthnot keeps 'neutral'STOCKWATCH Vodafone shares tumble after revenue warningUK smallcap opening - Nestor Healthcare down as sale of whole co looks unlikely

Tokyo shares close higher as credit worries ease; Nikkei above 13,000 - UPDATEUK smallcap opening - WIN loses 8 pence on FY profits warning

UK smallcap opening - Summit climbs on BioMarin Pharma deal

STOCKWATCH Xstrata ticks up as RBS ups to 'buy' vs 'hold'; target up to 4,600pUK smallcap opening - Velosi higher after positive update

STOCKWATCH Telefonica falls after Vodafone revenue warning

STOCKWATCH Ericsson plummets on profit-taking; in-line Q2 disappointsUK small caps open lower; Network Data hard-hit by FY warning

STOCKWATCH Tate and Lyle falls; Panmure Gordon cuts to 'sell' from 'hold'