DJI-NEW YORK, Oct 12 (Reuters) - Oil and other commodity prices rose on Monday on renewed optimism over the pace of economic recovery and a weak U.S. dollar, which helped lift the benchmark S&P 500 Index to its highest close in a year.
The Dow Jones industrial average <.DJI> closed up 20.86 points, or 0.21 percent, at 9,885.80. The Standard & Poor's 500 Index <.SPX> added 4.70 points, or 0.44 percent, at 1,076.19. The Nasdaq Composite Index <.IXIC> slipped 0.14 points, or 0.01 percent, at 2,139.14.
NYMEX-NEW YORK, Oct 12 (Reuters) - U.S. crude oil futures ended at a seven-week high on Monday, rising for a third day in a row as a weak dollar attracted buyers. Cooler temperatures and optimism about an economic recovery
added support.
On the New York Mercantile Exchange, November crude
closed up $1.50, or 2.09 percent, at $73.27 a barrel, the highest settlement since Aug. 24's $74.37. It traded from $72.05 to $73.84, the highest since the intraday high of $75 on Aug. 25, which was the year's high and highest since the intraday prices hit $75.69 on Oct. 21, 2008.
CBOT-SOYBEANS - November up 35 cents at $9.99 a bushel. Slow U.S. harvest this week due to rain and snow combined with a freeze over the weekend that likely harmed some of the immature U.S. crop lifted soybean futures. Added strength from lower dollar, higher crude oil and gains in equities. Nearby contract reaches $10.00-3/4, highest level since Sept. 3.
CBOT-SOYOIL - October up 1.39 cents at 36.30 cents per lb; December up 1.35 cents at 36.55. Spillover support from gains in soy, higher crude oil and a weak dollar.
FCPO-KUALA LUMPUR, Oct 12 (Reuters) - Malaysian palm oil futures jumped 3.2 percent to a two-week high on Monday as sentiment improved on strong export data and concern adverse weather could hit rival soyoil production. The benchmark December contract on the Bursa Malaysia Derivative Exchange rose as much as 67 ringgit to 2,152 ringgit ($631.6) a tonne, a level unseen since Sept. 25. The contract then settled up 62 ringgit at 2,147 ringgit. Trade volumes more than doubled to 21,479 lots of 25 tonnes each, signalling fresh buying.
REGIONAL EQUITIES-BANGKOK, Oct 12 (Reuters) - Singapore stocks climbed to their
highest in almost two weeks on Monday after surprisingly third quarter economic growth sprked buying in banking shares, the Thai index scaled a fresh 15-month high.
Singapore's benchmark Straits Times Index <.FTSTI> ended up 1.1 percent at its highest level since Sept. 30, with DBS Group , Southeast Asia's biggest lender, up 0.8 percent, after the central bank announced no change in its monetary policy stance and better-than-expected GDP growth in the third quarter. Singapore Exchange gained 0.8 percent ahead of its earnings release scheduled for Thursday.
Malaysia <.KLSE> inched down 0.04 percent, after a three-day rise, Indonesia <.JKSE> fell for a fourth day, sliding 0.7 percent while the Philippines <.PSI> lost 0.4 percent, adding on a 0.9 percent decrease on Friday.
In Kuala Lumpur, palm plantation firm IOI Corp was down 0.4 percent, erasing some early losses after Moody's Investors Service changed the outlook of IOI Corp to stable from negative.
