GLOBAL MARKETS-Shares hit 3-mth high as policy optimism persists
TOKYO, Aug 8 (Reuters) - Asian shares rose to a three-month high on Wednesday, supported by expectations that policymakers will soon decisively address the euro zone fiscal crisis and declining global growth.
"Despite the lack of fundamental improvement, equities continue to grind higher, driven in recent sessions by cyclical sectors and small caps, which had lagged the recovery back toward the April 2012 highs," Barclays Capital analysts said in a research note.
COMMODITIES-Oil jumps on Brent supply woes; grains down on rain forecast
NEW YORK, Aug 7 (Reuters) - Oil hit 12-week highs on Tuesday on falling output, pressure on the Federal Reserve to roll out a new stimulus and Middle East tensions, while grains prices fell a second day after weather forecasters called for rain in the parched U.S. Midwest.
Supply worries aside, oil and other commodities, such as copper, also got a boost from Boston Federal Reserve President Eric Rosengren remarks that he was in favor of the Fed buying more Treasury and mortgage-backed securities until the U.S. economy got back on its feet.
OIL-Oil at 12-wk high on N.Sea output drop, stimulus hope
NEW YORK, Aug 7 (Reuters) - Oil prices jumped to a 12-week peak on Tuesday as falling North Sea output, support for more bond buying by the U.S. Federal Reserve and Middle East tensions lifted crude futures to a third straight higher settlement.
"The news about the record low North Sea loadings got Brent going early and it has lifted everything else," said John Kilduff, partner at Again Capital LLC in New York.
NATURAL GAS-U.S. natural gas futures end up for second day
NEW YORK, Aug 7 (Reuters) - U.S. natural gas futures ended higher on Tuesday for a second straight day, backed by buying ahead of Thursday's weekly inventory report and slightly warmer revisions to extended weather forecasts.
"I think we moved up today ahead of the (EIA) storage number, which should be low relative to the five-year average, and weather still looks supportive from a power generation perspective," said Eric Bickel, analyst at Summit Energy.
EURO COAL-Prices rally to $95/T, highest since April
LONDON, Aug 7 (Reuters) - Physical European prompt coal prices rallied by $1.00 a tonne on Tuesday to $95, the highest level since April 19, boosted by Colombian force majeures, utilities and traders said.
"They'll be back at work within days and there is far too much coal around, everywhere," one European trader said.
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