Morning all. Market reports:

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

The cost of insuring against a potential default on western Europe's debt hit a new record as officials failed for a third consecutive day to reassure investors about the ability of southern European countries to pay their bills.
Cost of insuring European national debts hits new high

After weeks of wild speculation about Greece defaulting or leaving the euro, and dogged assaults on the common currency by pundits and amateur economists alike, the Greek prime minister has chosen to cut the Gordian knot - or at least to announce that he will.
An epic task for Greece

The PIGS (Portugal, Italy, Greece and Spain) are old hat. The new acronym on trading floors for possible dominoes if Greece should fall is STUPID (Spain, Turkey, UK, Portugal, Italy, Dubai).
The UK mustn't be STUPID

Sterling tumbled to an eight-and-a-half-month low against the dollar yesterday as investors, worried about the continuing fiscal difficulties of some eurozone countries, fled to the safety of the greenback.
Sterling weakens as eurozones problems unsettle the markets

The high street suffered its worst January in at least 15 years last month as snow storms, higher VAT and anxious consumers all took their toll on sales, the British Retail Consortium reports today.
High street feels the January chill as shoppers stay away

We believe that we now have a bubble in many cities, particularly the big ones. The central government is trying to deflate these bubbles gently, rather than pop them. The fact that prices have been at these levels before suggests this can be accomplished, as it was last time. But this does not mean that the land market will not experience pain during 2010-11.
Chinas metropoli bubble fear

The Dongria Kondh say plot of James Cameron's blockbuster reflects their plight as they struggle to stop company from opening bauxite mine on sacred mountain.
Indian tribe appeals for Avatar director's help to stop Vedanta

NIKKEI 225	AUSTRALIA ASX200	HANG SENG	SHANGHAI COMPOSITE

KOSPI	SENSEX
NYMEX CRUDE	GOLD	VIX

BARC Goldman: reiterated neutral, tp cut to 347 from 391
RBS Goldman: reiterated neutral, tp cut to 37 from 41
RDSA HSBC: upgraded to overweight from underweight, tp 1955
VOD BarCap: upgraded to overweight from equalweight, tp 175
XTA BMO: upgraded to outperform from market perform, tp 1200

Morning guys.
Had expected to be mauled at the open again as the Dow fell off after we closed. And the FTSE is way up. Must have missed something!?
TT

Futures were down 46 at one point overnight, so it was a lucky escape for the FTSE this morning. Corporate results good, UBS good, even Toyota up, and Trichet returning from a meeting in Australia a day earlier than scheduled leading to some speculation that it might be to do something.

Thanks Kyoto. Closed my LLOY right now and waiting for prices to drift lower before I buy back in. Sods law says that today will be the day it continues to rise just to be contrary!