20121009 1604 Global Markets & Commodities Related News.

STOCKS: Asian shares rose but gains were moderated by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings. European stock index futures pointed to a higher open, with shares set to rebound from the previous session's sell-off on mounting expectations of further stimulus measures from China. U.S. stocks slipped in light trading on Monday, pulling back from recent five-year highs ahead of an earnings season expected to be weak. (Reuters)

IMF warns global economic slowdown deepens, prods U.S., Europe (Reuters)
The IMF said the global economic slowdown is worsening as it cut its growth forecasts for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump.

FOREX: The euro was on the back foot as uncertainty about Spain persisted after euro zone ministers said the country did not need a bailout yet, dashing investors' hopes they might inch closer to a resolution of the debt problems of the region's fourth largest economy.  (Reuters)

FOREX-Euro under pressure on Spain bailout uncertainty
TOKYO, Oct 9 (Reuters) - The euro was on the back foot on Tuesday as uncertainty about Spain persisted after euro zone ministers said the country did not need a bailout yet, dashing investors' hopes they might inch closer to a resolution of the country's debt problems.
Caution on company earnings also kept risk assets, including the euro, in check, as investors weighed the impact of the global slowdown on corporate earnings due out this week.

Commodity ETP assets hit record $207 bln in Q3 (Reuters)
Assets in exchange-traded products (ETPs) in the commodity sector reached a record of $207 billion in the third quarter, driven by gold products as central banks launched new stimulus programmes, ETF Securities said on Monday.

GRAINS: U.S. corn rose for the first time in three sessions as the market readied for a U.S. Department of Agriculture report this week that is expected to show further cuts in yield projections, reducing harvest pressure that had squeezed prices.  (Reuters)

Ideal growing conditions mark start of Ivory Coast cocoa harvest (Reuters)
Sunny skies and abundant rainfall across most of Ivory Coast's main cocoa regions accompanied the start last week of the 2012/13 harvesting season in the world's top grower, farmers and analysts said on Monday.

California gasoline prices set to plunge as spike ends (Reuters)
The unprecedented price spike that added more than 50 cents a gallon to California pump prices last week ended as quickly as it began, market analysts said, and consumers should see prices fall dramatically in the coming week.

OIL: Brent crude futures rose towards $113 a barrel after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand.   (Reuters)

BHP to cut iron ore jobs as mining slowdown bites (Reuters)
Top global miner BHP Billiton said it plans to shed an undisclosed number of jobs in iron ore, its most profitable business, as it battles weaker demand and higher costs, adding to mining job losses in Australia.

BASE METALS: London copper bounced off one-week lows, boosted by expectations that top metals consumer China could roll out more pro-growth policies, ahead of a key leadership congress next month, to stabilise its economy.  (Reuters)

PRECIOUS METALS: Gold inched up after two days of decline, but persistent worries about the euro zone debt crisis and global growth could weigh on bullion, as these concerns keep the dollar strong.  (Reuters)

METALS-London copper rises from one-week low, China equities boost
SHANGHAI, Oct 9 (Reuters) - London copper bounced off one-week lows, boosted by expectations that top metals consumer China could roll out more pro-growth policies, ahead of a key leadership congress next month, to stabilise its economy.
Still, copper prices are likely to stay in a tight range ahead of a slew of key economic data releases from China this week, while nagging euro zone debt woes and a gloomy report from the OECD on the world's major economies is set to cap gains.

PRECIOUS-Gold inches up after two-day slide; growth worries weigh
SINGAPORE, Oct 9 (Reuters) - Gold inched up after two days of decline, but persistent worries about the euro zone debt crisis and global growth could weigh on bullion, as these concerns keep the dollar strong.
Speculative interest in gold remained strong, as stimulus measures launched by key central banks in September drive investors to gold, a hedge against inflation and currency debasement caused by looser monetary policy.