STOCKS: European stock futures pointed to a higher open, tracking Asian markets, with sentiment improving after Greece's lenders agreed on cutting the country's debt, a step towards releasing the next instalment of aid for Athens. Wall Street slipped on Monday, pulling back from last week's gains, as retailers fell on concerns about heavy discounts at the start of the U.S. holiday shopping season and the overhang of the "fiscal cliff" kept investors wary of making big bets. (Reuters)
FOREX-Euro hits 1-month high on Greece deal; yen retreats
SYDNEY/SINGAPORE, Nov 27 (Reuters) - The euro hit a one-month high versus the dollar after a deal on a new debt target for Greece but the gains proved fleeting as an agreement had been largely priced in, and some analysts said the single currency could start to lose momentum.
"It was not a huge reaction because (the deal) was already priced in," said Joseph Capurso, a strategist at Commonwealth Bank of Australia, adding that the euro could ease by around a cent by the end of the week.
Euro zone, IMF secure deal on cutting long-term Greek debt (Reuters)
Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece's debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat.
GRAINS: Wheat struck a one-week high after the USDA said the condition of the winter crop hit an all-time November low, following dry weather. Soybeans rose nearly 1 percent to a two-week high on concerns over unfavourable crop weather in Brazil, while corn also firmed. (Reuters)
China to raise hybrid rice yield by 11 pct by 2015-Xinhua (Reuters)
China, the world's top rice producer and consumer, aims to improve its super-hybrid rice yield by a further 11 percent by 2015 as part of its efforts to maintain food self-sufficiency, the official Xinhua news agency reported on Tuesday.
POLL-US crude stockpiles seen rising on higher imports (Reuters)
U.S. crude oil and gasoline inventories were forecast to have risen last week due to higher imports, a preliminary Reuters poll of four analysts showed on Monday.
High demand means world needs all of Canada's oil –IEA (Reuters)
Global demand for crude is growing so strongly that the world needs "every single drop of Canadian oil," the International Energy Agency's chief economist said on Monday, playing down fears that growing U.S. production could hit Canadian exports.
OIL: Brent crude rose above $111 per barrel as optimism coursed through financial markets after Greece's international lenders reached a deal on a new debt target, although worries about a looming U.S. fiscal crisis kept a lid on gains. (Reuters)
Italy's ILVA says faces closure over steel seizure (Reuters)
Italy's ILVA said it may have to close Europe's biggest steel plant after judges ordered the seizure of steel and semi-finished products in a corruption probe that saw several managers arrested on Monday.
BASE METALS: London copper rose near a one-month high early after lenders secured an aid deal for Greece, boosting the euro and building on confidence about global demand for the metal sparked by signs of an economic revival in top consumer China. (Reuters)
PRECIOUS METALS: Gold traded in a tight range above $1,748 an ounce as traders moved to the sidelines after initially pushing up bullion by almost $3 following a deal among Greece's international lenders. (Reuters)
METALS-Copper near one-month high on Greek debt deal
SINGAPORE, Nov 27 (Reuters) - London copper rose near a one-month high early after lenders secured an aid deal for Greece, which boosted the euro and enhanced confidence about global demand for the metal sparked by signs of an economic revival in top consumer China.
"That's absolutely the right step," said head of commodity research at UBS Wealth Management Dominic Schnider, adding that a resolution to the uncertainties overshadowing Greece and the U.S. economy by year-end should steady global growth prospects and set the stage for gains in metals prices next year.
PRECIOUS-Gold steadies around $1,750/oz after Greek debt deal
SINGAPORE, Nov 27 (Reuters) - Gold traded in a tight range around $1,750 an ounce as traders moved to the sidelines after initially pushing up bullion by almost $3 following a deal among Greece's international lenders to cut the country's long-term debt.
"There is a lot of apathy towards the Europe situation right now," said a Hong Kong-based trader, adding that many investors have chosen to sit on the sidelines as the month-end approaches, and some of them are closing books for the year.
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