Hello traders!

In the US tonight, the Dow was down 201.1 points at 11,169.59, while the S&P500
was off 18.61 points at 1,239.15 and the Nasdaq Composite 42.36 points lower at
2,268.17.

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

G.

Good morning traders!

In Asia today, the Hang Seng was down 537.89 points to close the morning
session at 22,149.32, while the Nikkei was recently down 272.44 points at
13,081.34.

US light crude for September delivery was up 39 cents at $125.12 a barrel.

Happy trading!

G.

Morning all. Market reports:

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

The New York stock market slid more than 2 per cent last night as Wall Street took fright from a warning by the International Monetary Fund that there is no end in sight for the US housing slump. Financial stocks bore the brunt of the fall, with Lehman Bros, the Wall Street investment bank, sinking 11 per cent to $15.27.
Wall Street tumbles as IMF warns America's housing slump is not over

Global financial markets "continue to be fragile, and indicators of systemic risk remain elevated", according to the IMF's latest Global Financial Stability Report.
IMF: Credit crunch losses to hit $1trn

Merrill Lynch sought to bolster its balance sheet and reduce its risk last night when it announced moves to raise $8.5 billion (4.27 billion) and the sale of $11.1 billion worth of high-risk mortgage-backed securities.
Merrill Lynch forced to take emergency action ahead of writedown

Merrill Lynch underlined the depth of the credit crisis in a drastic move Monday night to bolster its depleted balance sheet, revealing an $8.5bn share offering and $5.7bn in writedowns linked to the sale of toxic mortgage securities.
Merrill stuns with new cash call and write-offs

Security Capital Assurance, a bond insurer that has guaranteed $155bn of bonds, has averted insolvency after XL Capital, the Bermuda-based insurance company, agreed to pay $1.78bn to SCA and Merrill Lynch agreed to cancel $3.5bn worth of CDO hedges in exchange for $500m.
SCA avoids insolvency after $1.8bn injection

Barclays was last night hit with a 170 million (134 million) legal action from a bank in the tiny republic of San Marino that claimed it had suffered losses on its investment in highly geared credit securities put together by the UK's number three bank.
San Marino bank sues Barclays for 134m

Sir James Crosby will rule out creating a permanent government-backed vehicle to help support the mortgage market in his eagerly awaited report on the financial crisis today.
Fannie Mae and Freddie Mac wrong for UK, says crisis report

Supermarket chain to offer full retail banking services after buying out RBS from Tesco Personal Finance in 950m deal.
Tesco gears up for assault on the banks

The New York Stock Exchange is responding to the sharp rise in algorithmic trading by introducing technology designed to give NYSE floor brokers the ability to trade algorithmically and to more easily locate large sources of liquidity.
NYSE responds to rise of algorithmic trades

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

VIX

09:30 UK Mortgage Approvals June
10:00 EU Key Indicators
14:00 US S&P/CaseShiller Home Price Index May
15:00 US Consumer Confidence July (consensus 50)
22:00 US ABC COnsumer Confidence

STOCKWATCH Vedanta set to rise after profit beats forecastsThomson Financial UK at a glance share guideTokyo shares close sharply lower after Wall Street falls on credit woes

Tokyo shares close sharply lower after Wall Street falls on credit woes - UPDATE

UK smallcap opening - First Artist runs back on FY EBITDA warning

London shares open lower after Wall Street slump

BROKERWATCH RBS, Barclays started as 'outperform' at Sanford Bernstein

STOCKWATCH BP higher on Q2 profit boost; Cazenove stays 'outperform'UK smallcap opening - Prestbury dips on executives ousting vote

Topped up my position in Amiad Filtration (AFS) following the (as expected) solid trading statement. But most of my gains continue to come from downbets on building supplies companies.

UK smallcap opening - Oilex slides on profit-taking after operations report

STOCKWATCH Tesco falls after buys out RBS's 50 percent stake in TPF

UK smallcap opening - Bluewater up on 2 million pounds placing; strategy change

UK smallcap opening - Thalassa Energy makes firm debut on AIM

BROKERWATCH Detica cut to 'hold' vs 'buy' at PanmureUK small caps open lower; Bateman Litwin hurt by FY profits warning

STOCKWATCH Persimmon falls as Panmure Gordon cuts to 'sell' from 'hold'

BROKERWATCH Reckitt Benckiser downgraded to 'hold' from 'buy' at Collins Stewart

Metals - Gold higher on risk aversion but resistance caps gains