Shares recovered from the previous day's plunge, as sentiment improved on hopes Spain would use public funds to bolster its struggling banks, although persistent wariness over Greece weighed on the euro. Investors brushed off Europe's election results, as the S&P 500 rebounded from early losses to end nearly unchanged on Monday, despite the uncertainty surrounding the euro zone's ability to tackle its debt crisis.
FOREX-Euro slips but possible short covering may lend support
SINGAPORE, May 8 (Reuters) - The euro eased on Tuesday but stayed above the previous day's three-month low, with the potential for short covering seen offering the currency some support even as worries over political uncertainty in Greece clouded its outlook.
"This seems to me like a pretty serious situation," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corp. in Singapore, referring to the election results and political uncertainty in Greece.
HKEx chief confident on buying LME; Q1 profit dips
HONG KONG, May 7 (Reuters) - Hong Kong Exchanges and Clearing Ltd said it was confident of winning an auction to take over the London Metal Exchange (LME), the world's largest metals trading market, as it looks to China to drive new business growth in the face of declining stock market activity.
Speaking after the world's second-biggest bourse operator by market value posted a 7 percent dip in quarterly profit, HKEx CEO Charles Li declined to be drawn on a timetable for bids for the 135-year-old LME, which handles about 80 percent of global metal futures trading and could cost up to $1.6 billion.
China's state soy sales at 68,328 T, largest since 2010
China sold 68,328 tonnes of soy from state reserves at a regular auction on Tuesday, the largest volume since late 2010, as lower state prices prompted crushers to stock up on the oilseed.
Argentine farmers plan 4-day sales halt over tax
Farmers in Argentina's top farming province will halt sales of grain and livestock for four days to protest a planned tax rise, but exports should not be affected, an agricultural leader said on Monday.
Corn, soy planting pace tops analysts' expectations
U.S. corn and soybean farmers kept their planters rolling during the past week -- with particular progress made in the northern states -- despite spotty rain showers could have slowed their efforts, a U.S. Agriculture Department report showed on Monday.
The euro eased but stayed above the previous day's three-month low, with the potential for short covering seen offering the currency some support even as worries over political uncertainty in Greece clouded its outlook.
U.S corn futures edged up, finding some support after succumbing in the previous session to a selloff of riskier assets over concerns about the euro zone, and brushing off strong planting data from the U.S. Department of Agriculture.
Temasek, RRJ to invest $468 mln in US LNG plant
Singapore state investor Temasek Holdings and Asia-based private equity firm RRJ Capital have agreed to invest $468 million in Cheniere Energy to help the U.S. energy firm fund the country's first liquefied natural gas export plant.
Iran accepts yuan in exchange for oil -FT
Iran is accepting yuan for some of the crude oil it supplies to China, partly due to U.S. sanctions aimed at limiting Tehran's nuclear programme, and is spending the currency on Chinese goods and services, the Financial Times reported on Monday.
Saudi oil min says kingdom pumping 10 mln bpd crude
Top oil exporter Saudi Arabia is pumping at around 10 million barrels per day (bpd), Oil Minister Ali al-Naimi told reporters on a visit to Japan on Tuesday.
Brent crude held steady above $113 a barrel, recovering slightly after four straight sessions of losses caused by fears that the slowing economies of the United States and the euro zone would reduce oil demand.
China daily crude steel output hits record in April-CISA data
China's daily crude steel output hit a new record high of 2.026 million tonnes in April, industry data showed on Tuesday, as the country's steelmakers sustained high output despite a slow recovery in demand.
China sets duties on EU and Japanese steel tubes
China has set anti-dumping duties on some stainless steel tubes imported from the European Union and Japan, the Ministry of Commerce said on Tuesday, finalising a probe launched in September after complaints from Chinese producers.
China eyes upper hand in pricing with iron ore platform
China's first physical iron ore trading platform is set to debut on Tuesday, helping the world's biggest buyer of the commodity boost its price-setting influence.
Chile April copper export revenue ebbs to $3.583 bln
SANTIAGO, May 7 (Reuters) - Chilean copper export revenue slipped 8 percent to $3.583 billion in April compared with a year ago, when it was boosted by high prices, and fell 1.1 percent from the previous month, the central bank said on Monday.
April marks the first month copper export revenue decreased month-on-month in the world's top copper producer since the start of the year.
London copper rose as the London Metal Exchange resumed trading after a one-day holiday, with sentiment improving on hopes Spain would use public funds to bolster its struggling banks.
Gold edged lower as a backlash by voters in Greece and France against austerity measures weighed on the euro, while prices are supported by bargain hunters lurking around the lower end of a recent range.
METALS-Copper boosted by hopes for Spain bank rescue
SHANGHAI, May 8 (Reuters) - London copper prices crept up on Tuesday, with sentiment improving after Spain signalled it would use public funds to bolster its struggling banks, though nagging fears about the euro zone's debt woes kept investors on edge.
"Copper's gains on COMEX helped to lift prices on the LME and SHFE today," said a Shanghai-based trader.
PRECIOUS-Gold dragged down by weak euro on political uncertainty
SINGAPORE, May 8 (Reuters) - Gold edged lower on Tuesday as a backlash by voters in Greece and France against austerity measures weighed on the euro, while prices are supported by bargain hunters lurking around the lower end of a recent range.
"The sentiment in gold is likely to remain weak for a while, after the changes in European governments again triggered worries about the bloc's debt crisis and pressure the euro," said Li Ning, an analyst at Shanghai CIFCO Futures.
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