OIL: Crude falls as investors offload risk
SINGAPORE, Sept 8 (Reuters) - Oil fell for a third straight session on Wednesday as the dollar jumped and Asian equities fell on investor attempts to reduce risk exposure, while U.S. crude remained depressed by brimming petroleum stockpiles.
European Brent crude for October was trading almost $4 higher than U.S. benchmark West Texas Intermediate (WTI), shedding 42 cents on Wednesday to $77.34.
GLOBAL MARKETS: Stocks, euro fall on European banking fears
NEW YORK, Sept 7 (Reuters) - World stocks pulled back from a one-month high on Tuesday, the euro tumbled and the yen hit a 15-year peak against the dollar on renewed concerns about European banks and the global economy.
"There's concern about the health about the European banking sector ... that fear kind of comes and goes," said Tom Schrader, managing director, U.S. equity trading at Stifel Nicolaus Capital Markets in Baltimore.
Obama kicks off campaign with infrastructure plan
MILWAUKEE, Sept 6 (Reuters) - President Barack Obama, scrambling to spur job creation, proposed a six-year plan on Monday to rebuild U.S. infrastructure with an initial $50 billion investment and prepared new business tax cuts.
"We are going to rebuild 150,000 miles (240,000 km) of our roads -- that's enough to circle the world six times. ... We're going to lay and maintain 4,000 miles (6,400 km) of our railways -- enough to stretch coast-to-coast," Obama told a labour rally in Milwaukee where several thousand supporters cheered his every line.
China sees factory output growth slowing to 10 pct
BEIJING, Sept 7 (Reuters) - Annual growth in Chinese factory output will slow to 10 percent in the second half of this year, a government official said on Tuesday.
Beijing's drive against property speculation will reduce demand for everything from steel and cement to furniture, Xin Guobin, a department head at the Ministry of Industry and Information Technology, told a news conference.
German industry orders fall unexpectedly
BERLIN, Sept 7 (Reuters) - German manufacturing orders unexpectedly fell in July at their steepest rate in more than a year, weighed down by weaker demand from abroad and a below-average volume of big orders.
The data sent the euro to a session low against the dollar and Bund futures to a session high.
PRECIOUS-Gold holds near $1,250/oz as firm dollar caps gains
LONDON, Sept 7 (Reuters) - Gold held near $1,250 an ounce in Europe on Tuesday, supported by remerging concerns over the European banking sector and worries about global economic growth, though strength in the dollar capped gains.
"This morning we've seen risk aversion coming back with the Wall Street journal report," said Credit Agricole analyst Robin Bhar. "That has obviously impacted on equities, we've seen safe-haven flows into the dollar, but not into gold."
FOREX-Euro slides, Europe banking issues in focus
LONDON, Sept 7 (Reuters) - The euro fell broadly on Tuesday after rekindled concerns about the European banking sector prompted investors to sell higher-risk currencies.
"For the moment, the news about the German banks and the stress tests will weigh on risk appetite," said Sven Schubert, currency analyst at Credit Suisse in Zurich.
Stocks, euro down on Europe banking concerns
LONDON, Sept 7 (Reuters) - World stocks edged down from the previous day's one-month high while the euro fell broadly as renewed concerns about Europe's banking sector encouraged investors to pause after a recent rally.
"It's shedding more light on how effective the stress tests were and how much they revealed ... bringing those fears back on the table," said Commerzbank rate strategist David Schnautz.
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