20121002 1629 Global Markets & Commodities Related News.

STOCKS: Asian shares rose after a surprising expansion in U.S. factory activity helped investors override concerns about weak overall global growth, and some market players said riskier assets should continue to find support. European stock index opened lower. Wall Street started a new quarter with a modest rally on Monday, lifted by a surprising expansion in U.S. manufacturing in September.

FOREX: The euro edged higher and held above a three-week low against the dollar, but its outlook was clouded by concerns over Spain's fiscal woes and uncertainty over the timing of a possible aid request by Madrid.

FOREX-Euro claws higher; Aussie falls after RBA rate cut
SINGAPORE, Oct 2 (Reuters) - The euro edged higher and held above a three-week low against the dollar on Tuesday, but its outlook was clouded by concerns over Spain's fiscal woes and uncertainty over the timing of a possible aid request by Madrid.
"If Spain requests proactively, I think the euro would have a lot more upside, perhaps to $1.33," he said.

U.S. manufacturing grows but Europe, Asia wilt
U.S. manufacturing grew slightly last month for the first time since May but euro zone factories suffered their worst quarter since early 2009, suggesting the region may struggle to avoid recession.

Spain ready for bailout, Germany signals "wait"-sources
Spain is ready to request a euro zone bailout for its public finances as early as next weekend but Germany has signalled that it should hold off, European officials said on Monday.

GRAINS: Chicago soybeans slid to a three-month low as the record pace of the U.S. harvest and evidence of better-than-expected yields weighed on the market, while corn ticked higher amid tightening supplies.

U.S. farmers more than halfway done with corn harvest
U.S. farmers notched their best crop-gathering week of a record-fast year as dry weather helped them push past the halfway mark in the corn harvest and cut down 19 percent of their soybean crop, government data released on Monday showed.

POLL-U.S. crude inventories seen up on higher imports
U.S. crude oil inventories are expected to have risen last week as imports increased, a preliminary Reuters poll of analysts showed on Monday.

OIL: Brent crude futures steadied near $112 a barrel as investors weighed a weaker demand outlook amid a sluggish global economy against the continuing potential for supply risks.

COLUMN-Is copper supply cycle starting to turn?
--Andy Home is a Reuters columnist. The opinions expressed are his own--
LONDON, Oct 1 (Reuters) - Whisper it softly but copper supply may finally be turning some sort of corner.This is a market that has been characterised by supply shortfall for almost as long as anyone can remember.
A chronic lack of investment in new mine capacity coupled with a litany of labour unrest, technical problems and falling grades has helped keep the copper price  trading significantly above the cost of production, in stark contrast to just about every other industrial commodity.

METALS-Copper slips after 3 days of gains, U.S. data cushions
SINGAPORE, Oct 2 (Reuters) - London copper eased on Tuesday after gaining for three sessions with holidays in top consumer China this week keeping trade thin, although an unexpected glimmer of expansion from the U.S. manufacturing sector cushioned prices.
"Last month was quite good for base metals but for the wrong reasons -- more free money from the Federal Reserve," said Matt Fusarelli, an analyst at Australia-based consultancy AME Group.

BASE METALS: London copper eased after gaining for three sessions with holidays in top consumer China this week keeping trade thin, although an unexpected glimmer of expansion from the U.S. manufacturing sector cushioned prices.

PRECIOUS METALS: Gold was little changed, crawling back towards an 11-month high hit in the previous session, supported by a slightly weaker dollar and investor hopes for further central bank action to battle the grim outlook for global economic growth.

PRECIOUS-Gold inches up as more cbank action eyed
SINGAPORE, Oct 2 (Reuters) - Gold inched up on Tuesday,  crawling back towards an 11-month high hit in the previous  session, supported by a slightly weaker dollar and investor  hopes for further central bank action to battle the grim outlook for global economic growth.
"We believe that expanding monetary conditions globally will provide the catalyst for higher gold prices over the near-medium term," Deutsche Bank said in a research note.