Good morning traders!

US stocks closed sharply lower last night, in the wake of Delphi's bankruptcy filing and both the Dow Jones Industrial Average and S&P 500 Index skidding to five-month lows.

The Dow closed down 53.55 points at 10,238.76 while the S&P500 dropped 8.57 points to its five-month low of 1,187.33. The Nasdaq Composite fell 11.43 points to 2,078.92, representing a three-month low.

In Asia today, at the lunch break, the Nikkei was up 96.14 points at 13,323.88.

Oil prices rebounded in Asian trading hours ahead of the release of the weekly US government report on oil inventories. New York's main contract, light sweet crude for November delivery, was up 30 cents at $62.10 a barrel from its close of $61.80 in the US overnight, where it had slipped 0.04 cents.

Early brokers notes:

Reckitt Benckiser upgraded to 'buy' vs 'hold' at Citigroup
Informa initiated 'buy' at Deutsche Bank, price target 450p

Happy trading!

G.

Good morning all and thanks Greystone.

TESCO DOWNGRADED TO 'HOLD' FROM 'BUY' BY ING

N Brown 'neutral' at CSFB after solid H1 results

End of day market summary