TO FINANCE, BRITAIN'S PRIME MINISTER DAVID CAMERON SAYS MUCH MORE NEEDS TO BE DONE TO REDUCE THE COUNTRY'S ENORMOUS DEBT.

EARLIER THIS WEEK THE RATINGS AGENCY MOODY'S DOWNGRADED BRITAIN'S TRIPLE-A STATUS, FOR THE FIRST TIME.

MOODY'S SAYS BRITAIN'S ECONOMIC RECOVERY HAS PROVEN TO BE SIGNIFICANTLY SLOWER THAN EXPECTED, AND IT DOESN'T EXPECT CONDITIONS TO CHANGE.

MR CAMERON'S TOLD A ROWDY PARLIAMENT THE BLOW TO BRITAIN'S CREDIBILITY MUST BE TAKEN SERIOUSLY.

TO THE MARKETS...

THE DOW WAS UP STRONGLY, CLOSING AT A FIVE-YEAR HIGH.

THE NASDAQ ALSO CLOSED AHEAD, 44 POINTS

THE S-AND-P 500 WAS 20 POINTS UP

AND IN LONDON OVERNIGHT, THE FOOTSIE FINISHED PUT ON 55

TO COMMODITY PRICES -

WEST TEXAS CRUDE IS TRADING AT 93 U-S DOLLARS A BARREL.

TAPIS CRUDE IS TRADING AT 118 U-S DOLLARS A BARREL.

AND GOLD IS WORTH 15-HUNDRED AND 96 U-S DOLLARS AN OUNCE.

THE AUSTRALIAN DOLLAR IS BUYING 102 U-S CENTS, 78 EURO CENTS AND 67 PENCE STERLING.

 

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