Tuesday, April 3, 2012

20120403 1127 Global Market & Commodities Related News.

GLOBAL MARKETS-Shares rise on growth hopes after firm U.S. data
TOKYO, April 3 (Reuters) - Asian shares rose on Tuesday, riding on the back of strong gains in global equities overnight after solid manufacturing data from the United States and leading Asian exporters offset signs of mild recession in Europe.
"The U.S. stock rally will definitely lend a hand," said Bae Sung-young, an analyst at Hyundai Securities in Seoul. "Worries of a slowdown in China's economy are starting to settle, helping recently laggard, China-related issues to post a strong recovery."

COMMODITIES-Strong start to new qtr; US oil up most in 6 weeks
NEW YORK, April 2 (Reuters) - Commodities got off to a rousing second quarter start on Monday, with oil gaining its most since February in New York trade and copper and soybeans rallying on encouraging U.S. economic data and supply-demand trends.
"The U.S. is an important market, and with the economic outlook there brightening, demand is also likely to surprise to the upside," Eugen Weinberg, a commodities analyst at Frankfurt-based Commerzbank, said.

OIL-Oil rises 2 pct on N.Sea delays, U.S. data
NEW YORK, April 2 (Reuters) - Oil prices rose a second day o n Monday, gaining 2 percent as loading delays for North Sea crude cargoes added to concerns about global supply disruptions and as supportive U.S. manufacturing data countered disappointing economic figures from Europe.
"Oil prices rose on the better-than-expected ISM manufacturing reading as the strength of the U.S. economy continues to offset deteriorating conditions in Europe and concerns over China's slowdown," said John Kilduff, partner at Again Capital LLC in New York.

NATURAL GAS-US natgas futures end up, first gain in 6 sessions
NEW YORK, April 2 (Reuters) - U.S. natural gas futures ended higher on Monday for the first time in six sessions, backed by some short-covering after record-high supplies and tapering spring demand drove the front-month contract to a 10-year low early in the session.
"This was just a little modest short-covering, and we could see a little more tomorrow, but there's not a lot of support in the market. I think it's highly probable that futures will trade below $2 this month," said Dominick Chirichella at Energy Management Institute in New York, adding that forecasts of slightly cooler weather may have triggered some of the buying.

EURO COAL-Prices remain firm with oil, gas markets
LONDON, April 2 (Reuters) - Coal prices for physical prompt delivery saw little movement on Monday morning but bid/offer ranges remained at firm levels amid tense oil and gas markets.
"The further CO2 prices drop, the more attractive coal-fired power generation becomes than gas production and utilities will burn as much coal to generate electricity as they can," one coal trader said.

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