GLOBAL MARKETS-Shares steady on sustained policy hopes, eyes on RBA
TOKYO, Aug 7 (Reuters) - Asian shares steadied on Tuesday as investors maintained hope that Europe will take further action to tackle its debt crisis and the United States and China will adopt stimulus measures to boost growth.
"The bid to risk is likely to be sustained in coming weeks on the back of attractive valuations and market anticipation of policy action out of Europe, China and even the U.S.," Morgan Stanley said in a research note.
COMMODITIES-Markets up broadly, counting on ECB action; soy down
NEW YORK, Aug 6 (Reuters) - Oil prices climbed a second straight day on Monday and most other commodities rose too on investor hopes the European Central Bank would act on its pledge to help the euro zone.
Stocks on Wall Street hit three-month highs and the euro gained against the dollar as borrowing costs in Spain and Italy fell on hopes the ECB would buy short-dated bonds in Europe's most battered economies.
OIL-Oil hits 11-week high on strong equities, weak dollar
NEW YORK, Aug 6 (Reuters) - Oil prices rose for a second straight session on Monday, closing at the highest level in 11 weeks, as U.S stock markets rallied to a three-month high and as traders eyed ongoing turmoil in the Middle East.
"Equities moved higher and the dollar is a little lower and that may have been enough to stop the early profit taking after Friday's big jump," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.
POLL-US crude stocks forecast down on lower refinery activity
Aug 6 (Reuters) - U.S. crude oil stockpiles were forecast down last week for a second straight time on lower refinery activity, a preliminary Reuters poll showed on Monday ahead of industry and government data due this week.
Crude inventories were projected to have fallen by 500,000 barrels in the week to Aug. 3, according to the survey of seven analysts.
NATURAL GAS-US natural gas futures end up, first gain in 5 sessions
NEW YORK, Aug 6 (Reuters) - U.S. natural gas futures reversed course and ended higher on Monday, their first gain in five sessions, as technical buying after last week's steep slide offset early selling on milder weather forecasts and fading concerns about a Caribbean storm.
"We came down pretty hard after the recent high. Weather forecasts have turned bearish and there are no immediate storm threats, but it looked like some technical support today," said Steve Mosley at SMC Advisory Services in Arkansas.
EURO COAL-Prices rise by $1/T with oil, weak dollar
LONDON, Aug 6 (Reuters) - Physical prompt coal prices rose by around $1.00 a tonne on Monday in line with oil's gains and supported by expectations that strikes in Colombia would tighten supply into Europe, further boosting prices.
"A price of $91 a tonne is not a great number for a lot of producers still," one trader said.
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