Morning all. Market reports:

Telegraph
The Times
FT
The Guardian
The Independent
This is Money

Europe's debt markets are flashing danger signals after spreads on Iberian debt reached the highest level since the launch of the euro and investors rushed for safety into German notes, prompting warnings from German Chancellor Angela Merkel that the European Project itself is at risk.
Merkel plea to save Europe as contagion hits Iberia

Some analysts and politicians have suggested Greece should leave the eurozone, but such a move would neither be easy, nor even a solution to either the Republics or the currency unions woes.
Greece and the eurozone: what next?

To many, both in and outside of Greece, this stance was peculiar: billions had been spent saving big banks, but evidently saving a country of 11 million people was taboo. It was not even clear that the help Greece needed should be labelled a bailout: while the funds given to financial institutions like AIG were unlikely to be recouped, a loan to Greece at a reasonable interest rate would probably be repaid.
Reform the euro or bin it

The President of the European Commission lashed out at speculators and threatened more regulation yesterday after the euro plunged to its lowest level for 14 months and stock markets suffered another battering.
Barroso pledges to take on speculators as euro hits 14-month low

WTI front-end futures have experienced some extreme price volatility during the past two weeks due to distortions stemming from full-to-the-brim storage facilities at Cushing Oklahoma.
Oil contango intensifies as Cushing stocks soar

A broker must pay 20 million damages awarded to a financial trader he deceived and defrauded, the Court of Appeal ruled today. "This is the first time that a trader has recovered damages representing the profits he says he would have made if he had not been defrauded out of his trading capital."
Lying broker must pay 20m damages to City trader

First, Wall Streeter-turned VC Roger Ehrenberg argued for an open source approach to bond analytics. Next up, William Ackman who wants the SEC to facilitate the operation of a research database to which short sellers (among others, we presume) can post their research.
Open source finance, ratings and research edition

NIKKEI 225	AUSTRALIA ASX200	HANG SENG	SHANGHAI COMPOSITE
KOSPI	SENSEX	VIX	GBP/USD
GBP/EUR	NYMEX CRUDE	GOLD

Good morning traders!

In the US last night, the Dow lost 59 points at 10,868, the Nasdaq fell 22 points at
2,402 and the S&P500 shed 8 points at 1,166.

In Asia today, the Nikkei was down 342.21 points (3%) at 10,715.19, while the
Hang Seng ended the morning off 221.47 points at 20,106.07.

Crude oil traded at $80.13 a barrel on Nymex.

Happy trading!

G.

Opening Market Overview

one from the "UPS" a bit earlier

RKH 69p ( 68 / 70p )

News of Oil discovery on the Falklands ..."Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to announce that well 14/10-2 on the Sea Lion prospect has reached a depth of 2,744 metres. Initial data collected indicate that this well is an oil discovery, which would be the first in the North Falkland Basin. "

End-of-day Market Overview

BLACK Thursday for the US market


15 minutes delay