Good morning traders!

In Asia today, the Nikkei ended the morning up 71.07 points at 13,405.83, while
the Hang Seng was recently up 119.16 points at 22,859.87.

Oil rose towards $124 a barrel, rebounding from a seven-week low.

Happy trading!

G.

Morning all. Friday's market reports:

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

Saturday

Halifax, the country's biggest mortgage lender, will make cuts of up to 0.3 percentage points on 16 of its home loan products today and Bank of Scotland (BoS), its sister company, is reducing rates on 29 products by up to 0.45 points.
Halifax and Bank of Scotland cut loan rates for third time this month

The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. The banks, owned by Scottsdale, Arizona-based First National Bank Holding Co., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said.
Federal regulators close 2 more banks

Analysts suspect the days are numbered for BP's Russian venture.
The retreat from Moscow

Inflation in Japan is rising at its fastest pace in 15 years, reducing the prospect of any serious decoupling from American and European woes and pushing the world's second-largest economy closer to the brink of stagnation.
Japan faces surge in prices amid export gloom

Key trade talks aimed at pulling millions out of poverty and improving the standard of living for Britons are on the brink of collapse. The World Trade Organisation's seven-year old round of talks are said to be a "hair's breadth" from implosion as rich and poor countries failed to agree on a plan to pull down their trade barriers.
WTO trade barrier talks on brink of collapse

Sunday

The Treasury is preparing a radical rescue plan for the housing market which may involve pumping billions of pounds into the stricken mortgage markets. Alistair Darling, the Chancellor, has asked his leading advisers to investigate a plan to provide government support for lenders until the financial crisis has abated.
Treasury plan to rescue mortgage lenders

More than half of Britain's employers plan to lay off staff in the coming months, according to a new survey, which underlines fears that a major shakeout in the labour market is looming.
Staff face axe at over half of companies in UK

Hard-pressed companies across the country are scrambling for cash, putting extra pressure on banks' already battered balance sheets, according to City insiders. Just like consumers using up their overdraft limits to see them through a rough patch, Britain's businesses are drawing down credit deals, which were sometimes arranged months or years ago, to bolster their finances.
Firms go to credit limit to stay afloat

ANY hope that the ailing 2 billion-plus Dawnay Day empire might recover evaporated this weekend as administrators swooped on the remainder of its assets.
End of the line for Dawnay Day

Not since the arrest of Yukos proprietor Mikhail Khodorkovsky in 2003 - perhaps not even since the rouble crash of 1998 - have foreign investors been so dejected about Russia.
Russia reaches investors' tipping point after BP affair sours

THE subprime meltdown is proving Karl Marx right once again. History really does repeat itself, the first time as tragedy, the second as farce. The last time Wall Street was brought to its knees, you may recall, it was the analysts wot did it. Or at least, thats what some on Wall Street would have you believe.
Wall Street: Save analysts from cry babies

Monday

Global private equity giant Kohlberg Kravis Roberts is finally set to go public, in spite of the depressed state of the financial markets and a year after first signalling its intention to do so.
KKR is finally ready to go public with tag of up to $15bn

World markets are poised for a major relief rally today after the US Congress met in a rare weekend session to pass the most far-reaching rescue package for America's financial system since Franklin Roosevelt's New Deal.
Fannie Mae and Freddie Mac: Congress backs rescue package

Wall Street executives expect the Securities and Exchange Commission to extend the temporary limits it has placed on short-selling and expand them to cover additional stocks beyond the 19 financial companies it targeted two weeks ago.
SEC Intensifies Efforts To Rein In Short Selling

The SEC is focusing on four rumours that circulated about Wall Street bank Lehman Brothers in recent weeks, as the commissions investigation into potential market manipulation heats up, reports the WSJ. In subpoenas sent to dozens of hedge funds and others, the SEC asks the investment funds for transcripts of phone calls, messages and payroll documents that mention or include the Federal Reserves lending facility, Barclays, hedge fund SAC Capital and bond-fund house Pimco, say people familiar with the matter.
SEC focuses on Lehman rumours

The credit quality of Western European corporate borrowers has deteriorated to its lowest level since 2003, and could worsen as European economies grapple with rising inflation and slowing growth, exacerbated by the credit crunch.
Moodys warns on European credit quality

British banks' profits are predicted to more than halve in the interim reporting season that starts on Wednesday as credit-crunch writedowns and rising bad debts take a toll on the record profits reported a year earlier.
Bank profits to fall by half as Britain's big seven feel the pain

A damning report by MPs claims the six biggest energy companies conspire to keep charges high as many households struggle.
Energy firms conspire to raise prices

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

VIX

The Monday Press Roundup

*NATIONAL GRID SAYS OUTLOOK FOR 2008-2009 IS IN LINE WITH EXPECTATIONSBROKERWATCH Sage Group cut to 'underweight' vs 'neutral' at JP MorganTokyo shares close firmer on Wall St gains, but trade cautious ahead of earnings

BROKERWATCH BG Group upped to 'overweight' by HSBC; target upped to 1,350 penceBROKERWATCH Marks & Spencer started 'sell' by ING; target price 200 pence

UK smallcap opening - MTI Wireless Edge lower as H1 operating profit slumpsUK smallcap opening - AT Communications soars 15 percent on MBO talk

UK smallcap opening - Cains Beer slumps, posts wider H1 pretax loss

BROKERWATCH Aviva cut to 'neutral' from 'buy' in UBS UK insurance note

UK smallcap opening - William Sinclair slides on profit caution

London shares open lower as banking weakness offset gains in Reckitt Benckiser

UK smallcap opening - Wilmington Group up on preliminary approachTokyo shares close firmer on Wall St gains, but capped by caution - UPDATE

STOCKWATCH Compass lower post trading; Seymour Pierce keeps 'hold', 320p target

London shares open lower; airlines weak as Ryanair disappoints UPDATE

UK small caps open slightly higher; SMC Group climbs after revenue reassurance

STOCKWATCH Pearson higher on strong H1 results, positive outlook

BROKERWATCH Anglo American, BHP Billiton & Xstrata 'outperform' at Chevreux