Morning all. Market reports:

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

European ministers turn on Germany amid claims that it wants to exploit the weak euro instead of taking part in a bailout.
Merkel accused of making money at Greeces expense

The International Monetary Fund has warned that advanced economies such as the UK and US are facing an 'acute' challenge in reducing debt loads following the financial crisis which could in turn hamper economic growth.
IMF warns of acute debt challenges for West

The debate over Chinas prospective inflationary path continues to intensify, with worries mostly focused on the effects of a loose lending policy and the dispersion of capital spending.
Is China on the verge of a commodities unwind?

The world's oil reserves have been exaggerated by up to a third, according to Sir David King, the Government's former chief scientist, who has warned of shortages and price spikes within years.
Oil reserves 'exaggerated by one third'

There's plenty of reason to believe small businesses aren't getting the credit they need. In the last three months of 2009, business lending at smaller banks, which tend to cater to smaller companies, was down at a 13% annual rate, according to the Federal Reserve.
Banks and Small Business: The Crunch is Still Ahead

NIKKEI 225	AUSTRALIA ASX200	HANG SENG	SHANGHAI COMPOSITE

KOSPI	SENSEX
NYMEX CRUDE	GOLD	VIX

Good morning traders!

In the US last night, the Dow added 44 points at 10,786, the Nasdaq rose 21
points at 2,395 and the S&P500 gained 6 points at 1,166.

In Asia today, the Nikkei was down 55.65 points at 10,769.07, while the Hang
Seng ended the morning up 216.14 points at 21,149.39.

Crude oil traded at $81.48 a barrel on Nymex.

Gold settled at $1,104 an ounce.

Happy trading!

G.

Opening Market Overview

Yesterday's UPS share is highly up today as positive news are expected on tomorrow's budget

SEA 43p +3p

Midday Market Overview

From the BBC ................

FSA: Biggest-ever insider-trading raid
Robert Peston | 12:32 UK time, Tuesday, 23 March 2010

The Financial Services Authority has just put out the most tantalising statement about raids it has conducted this morning on 16 addresses in London, Oxfordshire and the south-east of England.

It describes these raids as it "largest-ever operation against insider dealing". And it has certainly put its resources where its mouth is: it has deployed 143 of its own investigators in the swoop and has collaborated with the Serious Organised Crime Agency.

So, first things first: if you noticed a troop of heavy-booted policeman carrying computers and files out of your premises this morning, do let me know (please forgive my blatant solicitation).

The FSA says that six men, including "two senior City professionals at leading city institutions and one City professional at a hedge fund" have been arrested. They are suspected of involvement in "a sophisticated and long-running insider-dealing ring".

The watchdog adds that it believes these City professionals passed inside information to traders who "traded based on this information and made significant profits as a result".

What's the significance of all this?

Well, there can no longer be any doubt that the FSA is serious about cracking down on City crime, especially illicit trading in shares and securities when in possession of privileged insider knowledge.

The FSA massively increased the resources it deploys on surveillance and enforcement three years ago - including installing a powerful computer system, Sabre, which analyses trading data and identifies patterns of possible illegal dealing.

That investment in policing now appears to be paying off in a stream of investigations and prosecutions. Leading City firms will be hoping that they don't have too many bad apples within their ranks.

End-of-day Market Overview