GLOBAL MARKETS-Asia stocks fall, German bond sale shakes euro
SINGAPORE, Nov 24 (Reuters) - Asian shares fell on Thursday and the euro struggled close to a seven-week low to the dollar after a botched German bond sale raised alarm that Europe's ever-worsening sovereign debt crisis is starting to affect even the continent's economic powerhouse.
"This may no longer be the case. And that is extremely worrying. We are journeying more and more into uncharted waters here."
COMMODITIES-Oil, metals slide on German bond sale, China data
NEW YORK/LONDON, Nov 23 (Reuters) - Commodities slid on Wednesday after top raw material consumer China reported weaker factory growth and the near flop of a German bond sale raised concerns the debt crisis was threatening Europe's biggest economy.
"It is a complete and utter disaster," said Marc Ostwald, strategist at Monument Securities in London, after the Bundesbank was forced to retain almost half of a sale of 6 billion euros of debt due to a shortage of bids by investors.
Oil slides nearly 2 pct on global economic woes
NEW YORK, Nov 23 (Reuters) - Crude oil futures slumped nearly 2 percent on Wednesday as weak economic data from Europe, China and the United States painted a somber outlook for global oil demand.
"The large crude oil drawdown and low level of imports gives the report a supportive tone, but the gasoline inventory build and the continuing trend of lackluster demand trumps the crude data," said John Kilduff, a partner at Again Capital LLC in New York.
Natural gas ends higher for third straight day
NEW YORK, Nov 23 (Reuters) - U.S. natural gas futures ended higher for a third straight day on Wednesday, boosted by a much-smaller-than-expected weekly build in winter inventories and some short-covering ahead of the long Thanksgiving holiday weekend.
"For the last few weeks the actual data has been coming in below most of the expectations and that could also happen next week, especially if we get any kind of cold weather over the next few days," Chirichella said.
Euro Coal-S.African slumps to just over $100/T
LONDON, Nov 23 (Reuters) - Physical South African coal prices slipped by $3.00 a tonne to just over $100.00 a tonne on Wednesday as producers and traders struggled to sell prompt tonnes in the face of weak demand globally and in line with falls in oil and equities.
"Richards Bay is a coal without any visible means of support," one European trader said, referring to the lack of buying interest in Asia or Europe.
No comments:
Post a Comment