Morning all. Market reports:

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

The United States economy is growing again, confirming that Britain is likely to be the only major economy still mired in recession.
UK left behind as the United States climbs out of recession

The liquidity tide is turning. Authorities across large parts of the world have either begun to tighten the spigot or are taking steps to wean their economies off emergency stimulus. This is a treacherous moment for markets.
Central banks chill asset rally

There must be something in the air - or perhaps its as the old adage goes: when the facts change, change your mind. In any event, Moodys has joined its rating agency brethren in revising its assumptions on large swathes of its rated universe.
Ratings agencies change their mind about everything, Moodys edition

Plans to force banks and other financial companies with more than $10 billion in assets to contribute to a rescue fund to help bail out failing rivals, would help protect the financial system without putting taxpayers at undue risk, Timothy Geithner, the US Treasury Secretary, said on Thursday.
Geithner calls for banks to set up rescue fund

The US investment bank was a leading prime broker to Galleon but on Thursday denied playing any part in passing on insider information to the hedge fund. The denial follows reports suggesting that Galleon paid hundreds of millions of dollars a year to major banks for access to information the general public did not receive.
Goldman Sachs denies any Galleon insider trading wrongdoing

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

SENSEX

Good morning traders!

In the US last night, the Dow was up 200 points at 9,963, the Nasdaq Composite
added 38 points at 2,098 and the S&P500 rose 23 points to 1,066.

In Asia today, the Nikkei was up 143.64 points at 10,034.74, while the Hang Seng
ended the morning ahead 636.15 points at 21,901.14.

Happy Friday!

G.

AAL ING: buy, tp raised to 3275 from 2700
AML Morgan Stanley: initiated overweight, tp 503
BLT ING: upgraded to buy from hold
BRE Morgan Stanley: initiated underweight, tp 239
CGL ING: initiated equalweight, tp 414
HSX Morgan Stanley: initiated equalweight, tp 394
KAZ ING: buy, tp raised to 1500 from 1400
NEX Citigroup: downgraded to hold from buy, tp cut to 344 from 360
PFD Goldman: buy, tp cut to 50 from 58
PZC Goldman: neutral, tp raised to 260 from 210
RB. Goldman: neutral, tp raised to 3260 from 3225
RIO ING: buy, tp raised to 3575 from 3150
SAB Goldman: neutral, tp raised to 2026 from 1391
ULVR Goldman: neutral, tp raised to 2150 from 1721
XTA ING: buy, tp raised to 1450 from 1175

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PRL 4.35 / 4.45p

Bouncing from lows and support, large retracement lately