20120904 1139 Global Markets & Commodities Related News.

GLOBAL MARKETS-Asian shares steady in range, stimulus hopes support
TOKYO, Sept 4 (Reuters) - Asian shares steadied on Tuesday as investors saw weak regional and global economic data as raising the prospect for further stimulus from central banks to underpin growth, while Europe kept hopes for some progress in tackling its debt crisis.
"Yesterday's pattern is likely to be repeated today. Traders are watching to see if (ECB President Mario) Draghi comes out holding a definite card of action," said Chung Seung-jae, an analyst at Mirae Asset Securities.

Hedge funds prepare for another oil spike
(John Kemp is a Reuters market analyst. The views expressed are his own)
LONDON, Sept 3 (Reuters) - Hedge funds and other money managers have started to ready themselves for another big spike in oil prices in the next few months, according to positioning data from the U.S. Commodity Futures Trading Commission (CFTC).
By Aug. 28, hedge funds had accumulated a net long position in WTI-linked futures and options equivalent to 207 million barrels, up from 151 million a month earlier, the largest net long position since May.

OIL-Oil rises, stimulus hopes outweigh weak Chinese data
LONDON, Sept 3 (Reuters) - Oil rose on Monday, despite Chinese data showing a deepening slowdown in the world's biggest energy consumer, as investors focused on the possibility of more stimulus measures and other moves to try to revive economic growth.
"The Chinese data is very gloomy and suggests that the world economy is slowing," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt.

EURO COAL-Prices steady, report shows coal's dominance over gas
LONDON, Sept 3 (Reuters) - Physical coal prices in Europe were steady to slightly higher on Monday, along with crude oil prices, while a report by Bank of America Merrill Lynch underlined coal's dominant position over natural gas as a feedstock for power generation.
"Coal is just hovering around the psychologically important $100 a tonne level and will continue to do that for the rest of the year," one analyst at a small trading house said.