Tuesday, November 10, 2009

Trader's Highlight

DJI-NEW YORK, Nov 9 (Reuters) - A broad U.S. stocks rally sent the Dow industrials to a 13-month high on Monday, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors' desire for risk.

The Dow Jones industrial average <.DJI> jumped 203.52 points, or 2.03 percent, to 10,226.94. The Standard & Poor's 500 Index <.SPX> rose 23.78 points, or 2.22 percent, to 1,093.08. The Nasdaq Composite Index <.IXIC> gained 41.62 points, or 1.97 percent, to 2,154.06.

NYMEX-NEW YORK, Nov 9 (Reuters) - U.S. crude oil futures ended 2.6 percent higher on Monday, lifted by the weak dollar and on shut-in oil and natural gas production as Tropical Storm Ida approached the Gulf Coast.

Tropical Storm Ida has shut 29.6 percent of oil production and 27.5 percent of gas output from the Gulf of Mexico, the U.S. Minerals Management Service said Monday.

On the New York Mercantile Exchange, December crude rose $2, or 2.58 percent, to settle at $79.43 a barrel, trading from $77.77 to $80.19.

CBOT-SOYBEANS
- November up 16-1/4 cents at $9.64-1/4 per bushel; January up 17 at $9.72.

Falling dollar, strong gains in crude oil, gold and equities boost soy futures, countering bearish impact of much better harvest weather in the U.S. Midwest. Strong export inspections number adds support.

CBOT-SOYOIL - December up 1 cent at 37.77 cents per lb. Support from gains in soybeans and crude oil as the dollar falls.

FCPO-JAKARTA, Nov 9 (Reuters) - Malaysian crude palm oil futures rose 0.9 percent on Monday, bouncing back from early losses, supported by talk of a rise in exports and a bullish price outlook from an influential industry analyst, traders said.

There was speculation that an estimate by cargo surveyor Intertek Testing Services (ITS), due out on Tuesday, will show Nov. 1-10 Malaysian palm oil exports at 394,000 tonnes against 339,195 tonnes shipped between Oct.1-10, traders said.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange rose 20 ringgit to 2,266 ringgit ($670.81) per tonne, after going as low as 2,215 ringgit. Overall volume was about average at 9,955 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 9 (Reuters) - Stock indexes in Singapore,
Indonesia and Thailand climbed to their highest in almost two weeks on Monday on buying in resource and commodity companies such as Wilmar International, Astra Agro and PTT.

Singapore's benchmark Straits Times Index <.FTSTI> rose 1.3 percent, with Wilmar , the world's largest listed palm oil producer, jumping 3.2 percent, Noble Group shooting up 6.2 percent and Olam International up 2.8 percent.

Malaysia <.KLSE> hit a two-week high, ending up 0.6 percent, with palm plantation firm IOI Corp surging 4.5 percent and Sime Darby adding 1.1 percent.