Monday, May 14, 2012

20120514 1120 Global Market & Commodities Related News.

GLOBAL MARKETS-Shares pressured by deepening Greece turmoil
TOKYO, May 14 (Reuters) - Asian shares eased on Monday as investors saw more reasons to cut risk after talks in Greece to form a new government failed, a German vote pointed to growing opposition to austerity steps and China took further steps to support its fragile growth.
"It's risk-off everywhere you look," said Yuji Saito, director of the foreign exchange division at Credit Agricole Bank in Tokyo.

COMMODITIES-Markets tumble on JPMorgan, China and Greece
NEW YORK, May 11 (Reuters) - Commodities fell on Friday, notching the biggest two-week loss of 2012 after top U.S. bank JPMorgan Chase & Co shocked the market by reporting huge trading losses, fueling risk aversion among investors already worried about the global economy.
"This is certainly not helping the bull case," said Michael Gross, a commodity futures analyst at in Tampa, Florida.

OIL-Oil dips as China data outweighs upbeat US consumers
NEW YORK, May 11 (Reuters) - Oil fell on Friday and posted a second straight weekly loss as pressure from weak industrial growth in China countered news that U.S. consumer confidence hit a four-year high.
"The complex was pushed and pulled in both directions today by the opposing forces of risk aversion related to the losses in the banking segment and support that spun off of the early rebound in the equities," Jim Ritterbusch, president at Ritterbusch & Associates, said in a note.

NATURAL GAS-US natgas futures end up for 5th day, hit 2-mth high
NEW YORK, May 11 (Reuters) - U.S. natural gas futures ended higher on Friday for a fifth day, backed by supportive industry data this week that showed a tighter supply-demand balance despite some early selling as investors took profits ahead of a mild weekend.
"I can say all day that the contract is looking toppy -- it surely does. Yet the chart is telling me to stay out of the way of this trend," Gelber & Associates analyst Pax Saunders said, adding milder weather could soon pressure prices.

EURO COAL-Prices stable, S.African supply tight
LONDON, May 11 (Reuters) - European prompt physical coal prices were little changed on Friday with no fresh trades reported.
"The market in Europe is miserable, it is a disaster, there are very few niches in which we can do some small spot business," one European trader said.

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