China rates worry, Europe's stocks crawl back
London, Nov 17 (Reuters) - World stocks struggled from concerns that China will raise interest rates further, hitting emerging markets, but Europe's equity decline stopped as investors took a break from Irish debt woes.
"Chinese rate hike prospects are one thing (affecting markets), there is also the prospect of tighter measures on inflows in Asia, especially Korea," said Gaelle Blanchard, emerging markets strategist at Societe Generale.
U.S. wholesale prices fall, output flat
WASHINGTON, Nov 16 (Reuters) - Core U.S. producer prices recorded their largest fall in more than four years in October and industrial output was flat, underlining concerns at the Federal Reserve about low inflation amid moderate growth.
Economists said the data supported the U.S. central bank's Nov. 3 decision to ease monetary policy further even though the 0.6 percent drop in the core Producer Price Index largely reflected the annual introduction of new motor vehicle models.
EU, IMF to lay groundwork for Irish rescue
BRUSSELS, Nov 16 (Reuters) - Euro zone finance ministers agreed on Tuesday to lay the groundwork for bailing out Ireland's banking sector with the IMF, but said Dublin had to decide itself whether to request the aid.
Before the ministers announced their decision in Brussels, Irish Prime Minister Brian Cowen resisted pressure to request a bailout -- even though the nation's banking and budget crisis risks spreading to other weak euro zone economies and could endanger the stability of the wider currency bloc.
China's Wen says price control measures on the way
BEIJING, Nov 17 (Reuters) - Chinese Premier Wen Jiabao has said his government is preparing steps to tame price rises, adding his voice to official efforts to reassure consumers irked by a rapid rise in the price of food.
Wen made the comments during a recent visit to the country's far south, the official Xinhua news agency reported, and they fed into market expectations that China will intensify tightening policies in the coming months.
China rare earth exports near 2010 quota - data
BEIJING, Nov 16 (Reuters) - Rare earth mineral exports from China may dry up for the rest of the year, according to data cited by the Ministry of Commerce on Tuesday that indicated this year's exports have already exceeded 2010 quotas.
China produces 97 percent of the world's rare earth metals, which are used in the making of high-tech goods and defence products. It set 2010 export quotas 40 percent lower than 2009 levels, raising alarm among buyer nations about supplies.
PRECIOUS-Gold lower on strong dollar, Ireland woes
SINGAPORE, Nov 17 (Reuters) - Gold edged lower on Wednesday, as mounting fears over Ireland's fiscal health sparked a strong rally in the dollar, pressuring bullion, while worries about China tightening monetary policy weighed on sentiment.
Euro zone finance ministers agreed on Tuesday to lay the groundwork for bailing out Ireland's banking sector with the IMF, but said Dublin had to decide itself whether to request the aid.
FOREX-Euro hunkered down near 7-wk lows on Irish woes
LONDON, Nov 17 (Reuters) - The euro traded near seven-week lows versus the dollar on Wednesday, hobbled by the lack of a clear solution to Ireland's debt crisis while high-yielding currencies suffered as risky trades were unwound.
Euro zone finance ministers agreed on Tuesday to lay the groundwork for bailing out Ireland's banking sector with the IMF, but Dublin has yet to decide whether to request the aid.
Oil trades near Nov lows on China demand concerns
SINGAPORE, Nov 17 (Reuters) - Oil hovered near early-November lows as speculation mounted that China will step up efforts to cool its economy, while a sharp drop in U.S. crude inventories prevented prices from sliding further.
"World growth has been put under question and markets are nervous," said David Taylor, an analyst at CMC Markets in Sydney, adding that declines in U.S. crude inventories "may be stopping the price from sliding even further".
COMMODITY MARKETS: Markets dive second time in 3 days on dlr, China
NEW YORK, Nov 16 (Reuters) - Commodities plunged a second time in three days on Tuesday, with metals and grains falling 5 percent or more, as the dollar rocketed on Ireland's debt crisis and traders feared China may dampen growth with more aggressive tightening measures.
"It's a question of volatility more than anxiety, I think," said Nic Johnson, senior vice-president and portfolio manager who runs bond giant PIMCO's $18 billion commodities mutual fund.
GLOBAL MARKETS: Stocks, commodities sink on Irish crisis, China
NEW YORK, Nov 16 (Reuters) - World stocks fell for the seventh straight session on Tuesday as growing tensions about Europe's debt problems and expectations of tighter credit in China weighed on commodity prices and hurt investor sentiment.
"There's a global concern that if Ireland needs aid, it could become a domino effect with other countries," said Cort Gwon, director of trading strategies and research at FBN Securities in New York.
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