STOCKS: European stock index futures pointed to a higher open, with a sharp decline in the previous session prompting some investors to buy cheaper stocks, although gains are likely to be limited. Asian shares extended losses tracking U.S. markets which fell over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles. (Reuters)
FOREX:The safe-haven yen touched a one-month high versus the euro and the dollar slipped as worries about a looming U.S. fiscal crisis dampened investors' risk appetite. (Reuters)
FOREX-Yen hits 1-month peak vs euro on risk aversion
SINGAPORE/SYDNEY, Nov 8 (Reuters) - The safe-haven yen touched a one-month high versus the euro on Thursday and the dollar slipped as worries about a looming U.S. fiscal crisis dampened investors' risk appetite.
"The increase in risk aversion will help support the yen on the crosses as well as the dollar," said Mitul Kotecha, head of global foreign exchange strategy for Credit Agricole in Hong Kong.
ECB seen holding rates steady as it waits to unlock bond plan (Reuters)
The European Central Bank is expected to leave interest rates on hold on Thursday, waiting instead to show its mettle with a new bond-purchase programme that is ready for use as soon as Spain asks for help.
Russia says grain sales from state stock efficient (Reuters)
Planned grain sales from Russian state stocks will be enough to keep domestic prices stable, Agriculture Minister Nikolai Fyodorov was quoted as saying on Wednesday.
GRAINS: U.S. wheat slid 0.6 percent as the market took a breather after climbing for three consecutive sessions to a five-week top on concerns over global supplies as dryness hurts U.S. crops and rains threaten the Australian harvest. Soy lost more ground to trade near its lowest since mid-October, with expectations of higher supplies from the United States and favourable crop weather in South America weighing on the market. (Reuters)
U.S. oil stocks rose despite Hurricane Sandy - EIA (Reuters)
U.S. crude and refined product stocks rose last week in spite of inventory drops on the East Coast, where Hurricane Sandy interrupted imports, refining activity and fuel supply chains.
OIL:Brent crude rose above $107 a barrel in Asia as a slump of almost 4 percent in the previous session, its biggest fall in about a year, lured in some buyers, although worries on the U.S. fiscal cliff and Europe's woes kept a lid on gains. (Reuters)
Obama to weigh energy boom, climate change in 2nd term (Reuters)
President Barack Obama will face a two-fold challenge in energy policy in his second term: make good on his promise to act on climate change, while at the same time foster growth in oil and gas production that has spurred jobs and manufacturing.
China base metal buys will hardly dent ample supply -trade (Reuters)
China's plan to buy base metals for state reserves in an effort to cushion domestic smelters from slowing economic growth would support prices but would not significantly reduce bulging stockpiles, traders and analysts said on Wednesday.
BASE METALS: London copper edged up from a two-month low hit the day before, but worries about the fiscal crisis in the United States will likely cap gains. (Reuters)
PRECIOUS METALS: Gold traded little changed below the 2-1/2-week high hit in the previous session after U.S. President Barack Obama was re-elected, as a strong dollar largely put off buyers. (Reuters)
METALS-LME copper inches up from 2-mth low, US fiscal woes weigh
SHANGHAI, Nov 8 (Reuters) - London copper rose from the previous session's two-month low, but prices are likely to stay subdued by slack Chinese demand and worries over U.S. fiscal measures that, if enacted, may tip the world's largest economy into recession.
"London copper is back up again today mostly on short-covering after investors' worries over the U.S. fiscal cliff led to a steep fall late in yesterday's session," said a Shanghai-based trader.
PRECIOUS-Gold flat as US fiscal worries support dollar
SINGAPORE, Nov 8 (Reuters) - Gold traded little changed below the 2-1/2-week high hit in the previous session after U.S. President Barack Obama was re-elected, as a strong dollar largely put off buyers.
"The dollar serves as a barometer of overall global risk," said Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong.
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