Morning all. Market reports:

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

Manufacturing activity in China raced ahead during January, signalling that the economy continues to expand, despite government efforts to curb booming bank lending.
Racing growth in China fuels speculation of rate increase

Last Friday, the Indian central bank surprised markets by holding rates while lifting its cash reserve ratio by 75 bps to 5.75 per cent. They had been anticipated to hike rates by 25bps while lifting the cash reserve ratio by 50 bps. The move now leaves BNP Paribas FX team, for one, convinced that Asia-wide anti-inflationary moves will follow - particularly in China.
The Asian anti-inflationary effect

Investor flight from Southern European debt markets has begun to subside as EU political leaders move closer to some sort of rescue for Greece, but it remains far from clear whether the Greek people will accept Europes increasingly draconian terms.
EU toughens demands on Greece

Sterling tumbled against the dollar and euro this morning after weak mortgage lending figures raised fears that the Bank of England might decide to extend its "money printing" operation this Thursday.
Sterling plunges on Bank's money scheme fears

President Barack Obama on Monday forecast a record budget deficit of $1.56 trillion (975 billion) for 2010 - worse even than the White House's prediction made just a week ago - as red ink threatened to submerge his leadership and reforms such as health care.
Barack Obama forecasts record US deficit of almost 1 trillion

Two big investment banks, UBS and JPMorgan, are on Monday asking themselves whether the current bear is the big one in terms of market corrections, or just a minor hiccup. Despite the jitters though, both UBS and JPM arent worried - just yet. Their strategy teams think this is a small correction along a recovery-driven rally that has much further to go.
Is this the big one?

NIKKEI 225	AUSTRALIA ASX200	HANG SENG	SHANGHAI COMPOSITE

KOSPI	SENSEX
NYMEX CRUDE	GOLD	VIX

Good morning traders!

In the US last night, the Dow ended up 118 points at 10,186, the Nasdaq
gained 24 points at 2,171 and the S&P500 added 15 points at 1,089.

In Asia today, the Nikkei was up 165.39 points at 10,370.41, while the
Hang Seng ended the morning ahead 43.56 points at 20,287.31.

Crude oil traded at $74.90 a barrel on Nymex.

Gold settled at $1,102 an ounce.

Happy trading!

G.

AAL SocGen: upgraded to buy from hold
BLND JPMorgan: reiterated overweight, tp reiterated 515
MRW JPMorgan: upgraded to overweight from neutral, tp raised to 340 from 320
RIO Citigroup: upgraded to buy from hold, tp reiterated 4000
RSA HSBC: upgraded to neutral from underweight
SSE RBS: initiated buy
STHR RBS: downgraded to hold from buy, tp 340

Twitter Updates
more >>

Good morning from a snowy Edinburgh - well it's an inch deep where I live just outside!

End-of-day Market Overview

Yipee! All our snow just melted away today. Pouring with rain instead.