GLOBAL MARKETS-Shares rise on euro zone bank relief, data in focus
TOKYO, July 2 (Reuters) - Asian shares rose with sentiment brightening at the start of the third quarter after Europe agreed to shore up the region's banks, while investor attention is turning to the health of the U.S. economy.
"The agreement by euro zone leaders gives relief especially for the banking sector and supports the euro," said Yuji Saito, director of foreign exchange at Credit Agricole Bank in Tokyo.
China HSBC PMI hits 7-mth low of 48.2 in June
BEIJING, July 2 (Reuters) - China's factory activity shrank in June at the fastest pace in seven months as new export orders tumbled to depths last seen in March 2009, a private sector survey showed, underlining the risk of a lurch lower for the Chinese economy.
The HSBC Purchasing Managers' Index (PMI) fell to 48.2 after seasonal adjustments, its lowest since November 2011, and little changed from a flash, or preliminary, estimate of 48.1.
COMMODITIES-Biggest 2012 rally as EU acts, but Q2 in red
NEW YORK, June 29 (Reuters) - Commodity markets posted their biggest rally for the year o n F riday, with oil prices rocketing 9 percent, as a long-awaited debt deal in Europe pushed buyers back into a sector that had logged few gains since May.
"Only when you have structural fixes can you think about a third quarter that will look a lot more positive," said Pau Morilla-Giner, who runs London & Capital's $280 million Global Commodities Fund.
OIL-Oil posts fourth biggest daily gain on record
NEW YORK, June 29 (Reuters) - Oil surged on Friday in heavy trading to the fourth biggest daily gain on record, as a deal by European leaders to shore up euro zone banks triggered frantic short-covering by funds that had been riding crude's price collapse over the last quarter.
"The NYMEX just went wild. It never looked back. Just up, up and away." said John Troland, an independent energy advisor in Houston, referring to the New York Mercantile Exchange where benchmark U.S. crude oil futures trade.
Iraq oil exports fall to 2.403 mbpd in June -govt
BAGHDAD, July 1 (Reuters) - Iraq's oil exports fell to 2.403 million barrels per day (bpd) on average in June compared with 2.452 million bpd in May, the oil ministry said on Sunday.
Exports from southern Basra were 2.085 million bpd in June while shipments from northern Kirkuk were 318,000 bpd, including 6,000 bpd by truck through Jordan, ministry spokesman Asim Jihad said.
Norway oil strike into second week, unions to meet Tues
OSLO, July 1 (Reuters) - A strike by offshore workers in Norway's oil sector entered its second week on Sunday with labour unions bracing for a long conflict and possible escalation to further lower output from the eighth largest oil exporter.
Operator Statoil said the strike had cut production of oil and natural gas liquids by 230,000 to 250,000 barrels per day, or up to 13 percent of Norway's capacity. Some natural gas output has also been affected.
US Congress eases way for BP oil spill settlement
WASHINGTON, June 29 (Reuters) - The U.S. Congress on Friday removed an obstacle to settling legal claims emerging from the 2010 BP Gulf of Mexico oil spill, when it approved a spending plan for the billions of dollars it expects the government to collect.
The plan, which President Barack Obama is expected to sign, directs 80 percent of Clean Water Act penalties related to the spill to a new trust fund for restoration efforts in five states along the Gulf coast.
NATURAL GAS-US natgas futures end up 4 pct, backed by heat
NEW YORK, June 29 (Reuters) - U.S. natural gas futures shrugged off bearish production data and ended higher on Friday supported by a vast heat wave that should extend into next week and force homeowners and businesses to crank up air conditioners.
"There's still a lot of heat around, and it looks like we're in for some peak power gen (generation) load next week," a New York-based analyst said.
EURO COAL-S.African rebounds above $90/T FOB
LONDON, June 29 (Reuters) - Prompt South African FOB physical coal prices continued the rally begun last week to trade at $90.00 a tonne FOB Richards Bay on Friday, over $10.00 higher than prices seen a few weeks ago amid the panic over widespread Chinese cargo defaults.
"The market does seem to have bottomed-out - for now - $90 is the number for Richards Bay and DES," one trader said.
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