GLOBAL MARKETS: Italy woes hit stocks, euro, boost bonds
NEW YORK, July 11 (Reuters) - Stocks and the euro fell as fears the euro zone debt crisis could spread to Italy caused investors to sell risky assets and snap up safe-haven debt, pushing the yield on the benchmark 10-year U.S. Treasury note below 3.0 percent.
"Italy has a more realistic financial plan than Greece and is much better equipped to meet their debt obligations," said Kathy Lien, director of currency research at GFT Forex in New York.
OIL: Oil falls on concerns about demand slowing
NEW YORK, July 11 (Reuters) - Oil fell for a second consecutive day as fears of a widening euro-zone debt crisis and a drop in Chinese crude imports rekindled concerns about a demand slowdown.
"Concerns about Europe keep getting ratcheted up and demand expectations lower, and China's inflation and worry about slowing growth add to worries about demand," said Phil Flynn, analyst at PFGBest Research in Chicago.
NATURAL GAS: Natural gas ends up 2 pct, heat backs gains
NEW YORK, July 11 (Reuters) - Front-month U.S. natural gas futures ended higher as hot weather across much of the nation this week boosted demand despite concerns about ample supplies that continue to limit the upside.
"This (rally) was heat driven. It's hot everywhere, and the physical market has been really strong," a Houston-based trader said, noting Henry Hub cash was trading 8 cents above futures.
EURO COAL: Prices drop $1/T with oil 2 pct fall
LONDON, July 11 (Reuters) - Prompt physical coal prices fell by around $1.00 a tonne in line a 2 percent drop in oil and in the absence of fresh buying from end-users in Asia and Europe.
"The Indians and Chinese are nowhere in the market right now, for any quality of coal, it seems, they're under no pressure to take prompt cargoes," one Europe-based market source said.
COMMODITIES: Down broadly as euro zone fears bump up dollar
NEW YORK, July 11 (Reuters) - Oil, copper and grains markets tumbled as worry that the euro zone debt crisis could spill over into Italy bumped the dollar up against the euro, hurting prices of dollar-denominated commodities.
"A default by Greece would be enough to set off a widespread sell-off in the financial market but a default by Italy would be worse than Lehman," said Kathy Lien, director of currency research at GFT Forex in New York.
GLOBAL MARKETS: Italy woes hit stocks, euro, boost bonds
NEW YORK, July 11 (Reuters) - Stocks and the euro fell as fears the euro zone debt crisis could spread to Italy caused investors to sell risky assets and snap up safe-haven debt, pushing the yield on the benchmark 10-year U.S. Treasury note below 3.0 percent.
"Italy has a more realistic financial plan than Greece and is much better equipped to meet their debt obligations," said Kathy Lien, director of currency research at GFT Forex in New York.
China crude imports to recover in July on steady demand
BEIJING, July 11 (Reuters) - China's crude imports will recover in July from a downward blip as refiners crank up production to meet rising demand after a heavy maintenance program led to the first decline in shipments at the world's second-largest oil consumer in six months in June.
The nation's demand growth is expected to slow this year from last, as monetary tightening measures pare consumption. But China will continue to provide the majority of the world's increased crude use, at 40 percent in 2011, the International Energy Agency forecasts.
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