Wednesday, January 16, 2013

20130116 1615 Global Markets & Commodities Related News.

STOCKS:European stocks were set for a mixed opening and Asian shares fell after the World Bank cited global growth concerns and uncertainty about the strength of fourth-quarter earnings. The Dow and the S&P closed higher on Tuesday supported by stronger-than-expected retail data.  (Reuters)

FOREX:The yen rose for a second day after a Japanese cabinet minister warned of the potential harm of excessive yen weakness, while the euro slipped after a European official complained about its recent gains.  (Reuters)

FOREX-Dollar falls 1 percent on day versus yen
LONDON, Jan 16 (Reuters) - The dollar fell 1 percent versus the yen, extending losses as investors took profit on the Japanese currency's recent sharp rise.
The dollar fell to 87.825 yen  on trading platform EBS, with market players reporting supporting bids at 87.80 yen. The euro also retreated against the Japanese currency, falling 1.4 percent on the day to 116.53 yen .

U.S. retail sales point to firmer consumer spending(Reuters)
U.S. retail sales rose solidly in December as Americans shrugged off the threat of higher taxes and bought automobiles and a range of other goods, suggesting momentum in consumer spending as the year ended.

UK wheat imports surpass one million tonnes (Reuters)
UK wheat imports surpassed one million tonnes during the first five months of the 2012/13 season, exceeding the total for the entire previous marketing year, customs data showed on Tuesday.

U.S. gasoline and crude stocks rise-API(Reuters)
U.S. gasoline and crude inventories rose last week even as crude imports fell, data from the American Petroleum Institute showed on Tuesday.

Norway sees record demand for mature oil licences(Reuters)
Norway has awarded 51 gas and oil licences after attracting record interest from firms spurred on by high prices to renew exploration in well-developed areas of the country's continental shelf deemed uninteresting a few years ago.

OIL:Brent crude rose towards $111 a barrel after robust U.S. retail sales boosted hopes for stronger demand in the world's top oil consumer, while oil inventories there rose far less than expected. (Reuters)

Workers at S.Africa's Amplats down tools -labour leader(Reuters)
Workers at the Rustenburg operations of South Africa's Anglo American Platinum refused to go underground for overnight shifts to protest company plans to close mines, a labour leader said on Wednesday.

BASE METAS:London copper steadied around two-week lows hit in the previous session as a pick-up in U.S. consumer spending bolstered risk appetite, while prospects for renewed growth momentum from top metals buyer China also underpinned prices.   (Reuters)

PRECIOUS METALS:Gold inched up towards a near two-week high hit in the previous session on expectations easy global monetary policies will continue, while platinum took a breather after rising for six straight sessions to a three-month peak. (Reuters)

EU Commission finds China subsidises steelmakers -sources
BRUSSELS, Jan 15 (Reuters) - The European Commission has concluded China illegally subsidises steel producers and wants EU members to back punitive tariffs, which could anger the bloc's second largest trading partner, trade sources said.
The conclusion would address blame at China itself, rather than Chinese companies. China has in the past accused the European Union of protectionism and has filed its own complaints against the bloc with the World Trade Organisation.

U.S. primary aluminum output rises 4.2 percent in 2012
Jan 15 (Reuters) - Primary aluminum production in the United States rose 4.2 percent to 2.07 million tonnes in 2012, according to data released by the Aluminum Association.
Output of the metal however, fell by almost 4 percent to 171,019 tonnes in December from a year earlier, said the association, which released the data late last week.

METALS-London copper steadies on U.S. spending uptick
SINGAPORE, Jan 16 (Reuters) - London copper held steady slightly above two-week lows hit in the previous session, propped up by a pick-up in U.S. consumer spending which bolstered risk appetite and prospects of further economic growth in top metals buyer China.
"It looks as though there has been some stronger data from China and we're flagging upside risk to our forecasts. It might be that people are just holding out for confirmation," said Alexandra Knight, an economist with National Australia Bank in Melbourne.

PRECIOUS-Platinum reverses losses on Amplats; gold inches up
SINGAPORE, Jan 16 (Reuters) - Platinum reversed early losses to extend its winning streak into a seventh straight session, buoyed by rising supply concerns after staff at top producer Anglo American Platinum downed tools.
"In the short term, platinum may see more strength, boosted by news from Amplats," said Alice Chiu, assistant manager of PGM trading at Heraeus Metals Hong Kong.

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