Monday, July 9, 2012

20120709 1116 Global Market & Commodities Related News.

GLOBAL MARKETS-Shares, euro slump on growth worry after weak US jobs
TOKYO, July 9 (Reuters) - Asian shares slumped after sluggish U.S. jobs data deepened worries about slowing global economic growth, and reinforced risk aversion ahead of China inflation figures and a meeting aimed at defining steps to shore up Europe's banks.
"The focus has clearly shifted to economic fundamentals," said Park Suk-hyun, an analyst at KTB Securities, noting that the market will likely face pressure with a raft of Chinese data due throughout the week.

COMMODITIES-Oil, metals crumple on US jobs data; grain rally stalls
NEW YORK, July 6 (Reuters) - Commodities tumbled on Friday by their most this year, eroding their second successive weekly gain after dismal U.S. jobs data fueled worries about the global economy and raw materials demand.
"Overall, it was another lackluster report but should not change forecasts for Fed action in any meaningful way," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington D.C.

OIL-Oil falls as tepid US jobs growth disappoints
NEW YORK, July 6 (Reuters) - Brent crude prices fell sharply o n F riday after a report showing tepid U.S. jobs growth in June reinforced concerns that a sluggish global economy will curb demand for petroleum.
"People were looking for something better, some indicator that may show we're crawling out of this trough," said Nigel Gault, chief U.S. economist at IHS Global Insight. "But everything here says we're still in it."

NATURAL GAS-US natural gas drops nearly 6 pct, recoils from $3
NEW YORK, July 6 (Reuters) - U.S. natural gas futures fell nearly 6 percent on Friday after briefly hitting $3 for the first time since January as pressure from a forecast for cooler weather and reduced power demand outweighed a bullish government storage report.
"After an initial spike in prices, the prompt contract appeared to have hit very strong resistance at $3 (per million British thermal units) and the August contract in turn fell by 10 cents an hour after the (storage) data release," Citi analysts said in a note.

EURO COAL-Physical prices ease with oil, gas, power
LONDON, July 6 (Reuters) - Physical prompt coal prices fell on Friday as energy markets responded to weak economic data, losing momentum that had driven  a rally earlier in the week.
September coal deliveries to Europe (ARA) were trading $1.5 a tonne below levels seen at the peak of this week's rally.

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