GLOBAL MARKETS-Shares gain as strong debt sales ease risk aversion
TOKYO, Jan 12 (Reuters) - Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong demand for Spanish and Italian debt sales tempered risk aversion ahead of another auction from Rome later in the day. "Market risk appetite continues to be stable despite the more mixed news that has emerged over the past 24 hours," largely owing to the ECB and the auctions, analysts at Barclays Capital said in a research note.
COMMODITIES-Oil dives on delayed Iran embargo news, grains sink
NEW YORK, Jan 12 (Reuters) - Commodities fell broadly on Thursday, with oil tumbling in a late sell-off on the latest report that Europe would phase in a ban on imports of Iranian crude, while grains slumped on disappointing U.S. supply and planting estimates. "The trade was coming in looking for some pretty bullish numbers for the corn market. We did not get that," said Terry Roggensack, analyst with The Hightower Report, referring to the crop estimates released by the U.S. Department of Agriculture.
Oil falls on Iran embargo phase-in plan
NEW YORK, Jan 12 (Reuters) - Oil prices tumbled on Thursday in a late sell-off sparked by a report that a proposed European Union ban on imports of Iranian crude would be phased in over six months, reinforcing news already published by Reuters. "It's not surprising to me that the European Union would delay the Iranian embargo as doing it now would have come at the worse possible time, amid austerity measures being taken as they have a lot of economic problems," said Peter Beutel, president of trading consultants Cameronhanover.com in New Canaan, Connecticut.
Natural gas settles lower, prices hit 28-month low
NEW YORK, Jan 12 (Reuters) - U.S. natural gas futures ended lower on Thursday, as mild winter weather and record high supplies drove the front-month contract down for a fourth day to another 28-month low in spite of a weekly inventory draw that beat consensus expectations. "We're looking at record storage at the end of winter, and as inventories approach 4 tcf by next winter, we could see problems handling all that gas," said Teri Viswanath, director of commodity research at BNP Paribas in Houston.
Euro Coal-Prices dip $1, ignoring oil's rise
LONDON, Jan 12 (Reuters) - Prompt South African physical coal prices dropped by around $1.00 a tonne on Thursday on weak buying in Europe and Asia and a loosening of the South African supply tightness see earlier this month. "Renewables are providing more power in countries where they can make a difference, apart from Spain and Italy where the burn has been good and everybody's sitting on stockpiles of coal," one European utility source said.
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