Tuesday, March 30, 2010

Trader's Highlight

DJI-NEW YORK, March 29 (Reuters) - U.S. stocks rose on Monday as miners and energy companies advanced on dollar weakness and investors bought recent high fliers as the quarter's end approached.

The dollar's decline boosted commodities prices, including crude oil. Exxon Mobil Corp was up 1.1 percent to $67.30 and the S&P energy index <.GSPE> rose 1.8 percent.

The Dow Jones industrial average <.DJI> rose 45.50 points, or 0.42 percent, to 10,895.86 -- it's highest close since September 2008. The Standard & Poor's 500 Index <.SPX> climbed 6.63 points, or 0.57 percent, to 1,173.22. The Nasdaq Composite
Index <.IXIC> jumped 9.23 points, or 0.39 percent, to 2,404.36.

NYMEX-NEW YORK, March 29 (Reuters) - U.S. crude futures ended higher on Monday for the first time in four sessions, supported by a weaker dollar, higher equity prices and data showing consumer spending rising for the fifth straight month.

Some analysts also cited geopolitical worries arising from a suicide bombing that killed at least 38 people on packed Moscow metro trains on Monday.

On the New York Mercantile Exchange, May crude closed up $2.17, or 2.71 percent, at $82.17 a barrel, trading from $80.18 to $82.78. The day's percentage gain was the highest for a day since prices ended up 3.89 percent Feb. 16.

CBOT-CHICAGO, March 29 (Reuters) - Chicago Board of Trade grains and soy complex close on Monday.

CBOT-SOYBEANS - May up 15-1/2 cents at $9.67-1/2 per bushel. Market climbs on weak dollar, higher crude oil and concerns about ability of Argentina to ship soybeans due to spreading labor protests.


CBOT-SOYOIL - May up 0.32 cent at 39.27 cents per lb. Firm crude oil, higher soy and weak dollar combine to lift soyoil futures.

FCPO-KUALA LUMPUR, March 29 (Reuters) - Malaysia palm oil futures fell to seven-week lows on Monday due to the stronger ringgit currency against the dollar and expectations of weak export growth this month.

Palm oil futures have lost 5.4 percent so far this year on expectations of a bumper South American soybean crop and volatility in foreign exchange markets.

Benchmark June crude palm oil futures on the Bursa Malaysia Derivatives Exchange settled down 14 ringgit, or 0.55 percent, at 2,520 ringgit ($762.5) after going as low as 2,510 ringgit -- a level not seen since Feb. 8.

REGIONAL EQUITIES-BANGKOK, March 29 (Reuters) - Indonesia's stock market ended lower on Monday as bank shares fell prey to profit-taking, while Thai stocks fell for a third session as worries grew over anti-government protests in the capital.

The region overall was mixed, with Singapore and Malaysia posting small gains while the Philippines and Vietnam were flat.

Singapore's index <.FTSTI> rose for a third day, adding 0.8 percent, led by big caps and banking stocks. Singapore Telecoms rose 2.2 percent, Oversea Chinese Banking Corp gained 1.3 percent and United Overseas Bank climbed 1 percent.

In Kuala Lumpur, the index extended its gains into a fifth session, finishing 0.3 percent higher, led by Malayan Banking and Axiata Group , which rose about 1 percent each.