GLOBAL MARKETS-Shares rise as U.S. data soothes growth slowdown fears
TOKYO, May 2 (Reuters) - Asian shares edged higher and the dollar recovered against the yen on Wednesday after strong U.S. factory activity data eased concerns about a loss of momentum in the world's biggest economy.
"Moreover, the subseries of the release were pleasing, and while we caution that one month's result is not a trend, the report tentatively suggests that the recent softening in growth momentum is now stabilising," Rabinov said.
COMMODITIES-Strong US manufacturing boosts oil, copper, others
NEW YORK, May 1 (Reuters) - U.S. oil futures notched their biggest gain in two weeks on Tuesday, and copper and other commodities rose too, after the strongest U.S. manufacturing data in 10 months boosted the outlook for raw materials demand in the world's largest economy. "The ISM data pushed crude up and strong equities are helping, and when crude moved above the 50-day moving average that triggered some technical buying," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.
OIL-Oil turns higher on strong U.S. factory growth
NEW YORK, May 1 (Reuters) - Oil prices turned higher on Tuesday after data showing the U.S. manufacturing sector expanded in April at its fastest pace in 10 months eased concerns about slowing economic growth.
"The ISM data pushed crude up and strong equities are helping, and when crude moved above the 50-day moving average that triggered some technical buying," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.
NATURAL GAS-US natural gas futures end higher for 3rd day
NEW YORK, May 1 (Reuters) - U.S. natural gas futures ended higher on Tuesday for a third day, reacting to more bullish technicals and to signs that record production might finally be slowing despite fading weather demand and still-high supplies.
"Natural gas has been in a pretty strong short covering rally for the last week or so primarily driven by an increase in demand from coal to gas switching along with a growing view that the producing sector will in fact voluntarily cut production," Energy Management Institute's Dominick Chirichella said in a report.
EURO COAL-Supply glut drives Europe coal prices to 2-year lows
LONDON, May 1 (Reuters) - European coal prices slumped to a two-year low on Tuesday with market players citing growing oversupply as large shipments from the United States and Colombia aggravated a glut in the region after an unusually warm winter.
"There has been a persistent belief, a delusion, that the market couldn't fall below $100 and stay there this year, but it has to fall further - there is simply too much coal, everywhere," a source at one of Europe's largest utilities said.
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