Tuesday, December 4, 2012

20121204 1134 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares off 9-month high on weak U.S. data
SINGAPORE, Dec 4 (Reuters) - Asian shares dipped after U.S. manufacturing activity hit a three-year low in November, while the euro hovered near a six-week high on optimism over a planned debt buy back by Greece.
"Investors are cautious about the market's sharp rise in the past few weeks, and as soon as the Nikkei hit the 9,500-mark, trading has slowed down. Investors started taking a wait-and-see mode," said Hiroichi Nishi, general manager at SMBC Nikko Securities in Tokyo.

FOREX-Euro firms against dollar, yen; RBA rate decision awaited
TOKYO, Dec 4 (Reuters) - The euro rose slightly in early Asian trading, moving back towards a six-week high against the dollar and a seven-month high against the yen marked a day earlier on upbeat news from Spain and Greece.
"Therefore the reaction of the Australian dollar to the RBA decision could hinge less on how much the RBA eases and more on whether they signal plans to ease again in the New Year," she said in note to clients.  

U.S. manufacturing contracts to weakest in 3 years
NEW YORK, Dec 3(Reuters) - U.S. manufacturing unexpectedly contracted in November, falling to its lowest level in over three years in a sign the sector may be struggling to gain traction, according to an industry report released on Monday.
The Institute for Supply Management said its index of national factory activity fell to 49.5 in November from 51.7 the month before. The reading was shy of expectations of 51.3, according to a Reuter’s poll of economists. The 50 level in the index is the line between expansion and contraction.

Brent oil falls as weak US data offsets China optimism
NEW YORK, Dec 3 (Reuters) - Brent oil prices turned lower on Monday after data showed U.S. manufacturing activity slowed to a three-year low, offsetting more optimistic figures from China.
"The ISM data took away the momentum, but crude hasn't lost that much ground," said Phil Flynn, analyst at Price Futures Group in Chicago.

POLL- US crude, refined product stocks seen higher last week
Dec 3 (Reuters) -  U.S. commercial crude oil stockpiles likely rose marginally last week while gasoline stockpiles were expected to show larger builds, a preliminary Reuters poll of six analysts showed on Monday.  
The survey ahead of weekly inventory reports from industry group American oleum Institute  and the U.S. Energy Information Administration, forecast that crude stocks would rise by 100,000 barrels on average for the week ended Nov. 30.  

Nigeria oil savings more than double, risks remain
ABUJA, Dec 3 (Reuters) - Cost-cutting has helped restore Nigeria's Excess Crude Account (ECA) to some $9 billion in oil savings, or more than double what it was a year ago, Finance Minister Ngozi Okonjo-Iweala said on Monday.
Okonjo-Iweala was addressing delegates in Abuja at the annual Nigerian Economic Summit, whose themes include reducing the high cost of governance in Africa's top oil producer.

No comments: