Good morning traders!

In the US last night, the S&P500 added 16 points at 919.5, the Dow Jones Industrial Average gained 102 points at 8,512.3 and the Nasdaq Composite was up 5 points at 1,759.

In Asia today, the Nikkei was up 308.69 points at 9,358.06, while the Hang Seng ended the morning up 132.47 points at 16,967.04.

Crude oil traded at $56.56 a barrel on Nymex.

Happy trading!

G.

Morning all. Market reports:

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

China has given its clearest warning to date that emergency monetary stimulus by Western governments risks setting off worldwide inflation and undermining global bond markets.
China fears bond crisis as it slams quantitative easing

Bank of America, Citigroup and Wells Fargo will have to collectively find $55bn in fresh ordinary capital as a result of the US Treasury's financial stress tests, details of which are due to be announced today.
US banks thought to need $55bn in capital

American banking stocks jumped on Wall Street last night after the results of the US Governments bank stress tests were leaked, giving investors some certainty over cash-calls to come.
American stocks surge after leaked results of banking stress tests bring relief to investors

The economy will shrink 4.3 percent this year, its sharpest decline since the aftermath of World War II, before staging a moderate export-driven recovery in 2010, a leading academic thinktank forecast today.
Economy may shrink 4.3% in 2009

The British economy may already have passed through the worst of the downturn, according to the latest economic indicators. Though output and house prices seem set to continue to fall for some months, the pace of decline appears to be easing considerably, raising expectations that stabilisation and even growth may return to the economy by the end of the year.
House prices and business confidence raise hopes of recovery

The question is on quite a few lips right now. The Footsie is up 25 per cent in the space of two months, as has S&P 500 has risen some 34 per cent from its March 9 low. James Montier at SocGen says he doesnt have a clue. So hes buying insurance - to protect on the downside.
A suckers rally or the real deal?

Europes central banks are $40bn poorer than they might have been after they followed a British move 10 years ago to shrink the Bank of Englands gold reserves, according to an FT analysis.
Gold sales cost Europe $40bn

MF Global, the brokerage spun off from Man Group, the London-listed hedge fund, has been ordered to pay as much as 20 million in compensation to a day trader who says he was deceived about the value of his investments.
MF Global faces 20m bill for defrauding client

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

BBAY Citigroup: downgraded to sell from buy
CSR RBS: upgraded to buy from hold
EMG Citigroup: downgraded to hold from buy
FCAM Citigroup: initiated hold
KAZ BarCap: upgraded to equalweight
MKS Nomura: upgraded to buy from neutral
NXT Nomura: downgraded to neutral from buy
STAN BOCI: upgraded to buy from hold
ULVR Shore: buy
VED Cazenove: underperform

End-of-day Market Overview