Tuesday, October 9, 2012

20121009 1131 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares rise, growth worries cap
TOKYO, Oct 9 (Reuters) - Asian shares rose but were capped by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings.
"Asian equities markets are feeling the positive effects from the recent global easing, prompting investors to buy the region's stocks which have remained undervalued," said Hirokazu Yuihama, a senior strategist at Daiwa Securities.

OIL-Oil dips on growth concerns; Middle East fears support
Oil prices eased on Monday in choppy trading on concerns that slower economic growth in China and the debt crisis in Europe will curb demand for petroleum, while the potential for Middle East turmoil to disrupt supplies limited losses.
"The situation between Turkey and Syria and some German export data, that was unexpectedly supportive, helped pull prices off lows hit because of concerns about China's slowing and Europe's debt crisis," said Phil Flynn, analyst at Price Futures Group in Chicago.

NATURAL GAS-US natural gas futures end slightly up on early cold
NEW YORK, Oct 8 (Reuters) - U.S. natural gas futures ended higher on Monday, backed by forecasts for mostly chilly U.S. weather this week that should stir more heating demand despite concerns about record high supplies and an outlook for milder mid-month forecasts.
"We ended up a little on the day because there's some cold weather around this week that is impacting demand, but expectations for above-average temperatures (in the extended forecasts) were weighing on the market," said Eric Bickel, analyst at Summit Energy in Kentucky.

EURO COAL-Swaps rally on strike fears, boosting physical
LONDON, Oct 8 (Reuters) - Prompt physical coal prices rose slightly by 25-75 U.S. cents a tonne on Monday, in line with stronger coal swaps values that were supported by concerns about possible strike action in South Africa.
"The possibility of the strikes spreading has been mentioned in some broker reports, it's a factor in the swaps market rather than physical," one European trader said.

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