Good morning traders!

In the US last night, the Dow fell 106 points at 15,303, the Nasdaq lost 21 points at
3,468 and the S&P500 shed 12 points at 1,648.

In Asia today, the Nikkei was recently down 452 points at 13,874 and the Hang Seng
off 110 points at 22,444.

WTI crude oil traded at $92.79 a barrel and Brent crude at $102.43.

Gold settled at $1,391 an ounce.

Good hunting!

G.

Nikkei currently down over 5%.

Nikkei leads Asian share tumble, dollar slips on QE jitters

TOKYO | Thu May 30, 2013 7:24am BST
(Reuters) - Japanese equities led a tumble in Asian shares as the dollar slipped to fresh lows against the yen on Thursday, as investors worry what might happen if the U.S. Federal Reserve's winds back its massive stimulus programme.

"The rising yen is just a minor reason that triggered further selling. The fundamental concern that's been in investors' heads is the possibility that the Fed is exiting
from quantitative easing," said a fund manager at a U.S. hedge fund.

Despite the slide in Asian shares, European stock markets are expected to edge higher, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open as much as 0.4 percent higher. A 0.1 percent drop in U.S. stock futures pointed to a more sober tone at Wall Street open.

The Nikkei stock average tumbled more than 5 percent to a five-week low, dragged lower by the dollar's decline to its lowest since May 10 against the yen, which weighed on exporters.

The Nikkei's rally had been driven by bets for a weakening yen as a result of the Bank of Japan's bold reflationary measures to help Japan regain strength.

FTSE 100 slightly higher in early deals as gold recovers

EUR Retail PMI 46.8 44.2

Assad says Syria has received Russian missile shipment - Lebanese media

BEIRUT | Thu May 30, 2013 9:00am BST
(Reuters) - Syria has already received the first shipment of an advanced Russian air defence system and will soon get the rest of the S-300 missiles, President Bashar al-Assad was quoted as saying on Thursday.

"Syria has received the first shipment of Russian anti-aircraft S-300 rockets," Lebanese newspaper al-Akhbar newspaper quoted Assad as saying in an interview due to be broadcast later in the day. "The rest of the shipment will arrive soon."

An interview with Assad will be released on Al Manar, a television station linked to Assad's ally, the Shi'ite Muslim militant group Hezbollah.

Italian 10-y Bond Auction 4.14|1.4 3.94|1.4

FTSE100 remains higher midday as miners advance

USD Prelim GDP q/q 2.4% 2.5% 2.5%

USD Unemployment Claims 354K 342K 340K

USD Prelim GDP Price Index q/q 1.1% 1.2% 1.2%

CAD Current Account -14.1B -15.3B -17.3B

CAD RMPI m/m -2.2% -0.7% -1.7%

CAD IPPI m/m -0.8% 0.1% 0.1%

Credit returns to Portugal economy, more to be done-bankers

(Reuters) - After three years of the worst recession since the 1970s, credit is finally flowing back into the Portuguese economy but more must be done to stimulate growth in the bailed-out country, bankers said on Thursday.

"I am sure that we are entering a phase of greater supply of credit to Portuguese companies and even adjustments to its price," Nuno Amado, chief executive officer of the country's largest listed bank, Millennium BCP (BCP.LS), told a conference hosted by Reuters and TSF radio.

"We will be more active in lending to companies," he added.

Exclusive - Europe plans major scaling back of financial trading tax

BRUSSELS | Thu May 30, 2013 12:59pm BST
(Reuters) - European countries plan to scale back a proposed financial transactions tax drastically, initially imposing a tiny charge on share deals only and taking much longer than originally intended to achieve a full roll-out.

While yet to be formally proposed, the sweeping revisions would mark a victory for banks and trading organisations which have lobbied furiously against a scheme aimed at making them contribute to the costs of the financial crisis.

But the move also reflects big practical problems in collecting the revenue and political divisions over the tax, which has encountered legal challenges from London and caused concern even among the 11 euro zone countries backing it.

FTSE 100 ends firmly higher with Kingfisher topping the list