Monday, April 19, 2010

Trader's Highlight

DJI-NEW YORK, April 16 (Reuters) - Financial stocks plunged on Friday, ending Wall Street's six-day winning streak as fraud charges against Goldman Sachs and some disappointing earnings sent investors running for cover.

The Dow Jones industrial average <.DJI> dropped 125.91 points, or 1.13 percent, to 11,018.66, according to the latest available figures. The Standard & Poor's 500 Index <.SPX> lost 19.54 points, or 1.61 percent, to 1,192.13. The Nasdaq Composite Index <.IXIC> shed 34.43 points, or 1.37 percent, to 2,481.26.

NYMEX-NEW YORK, April 16 (Reuters) - U.S. crude oil futures tumbled nearly 3 percent on Friday, the biggest one-day percentage loss in 10 weeks, as a downturn on Wall Street on news that U.S. securities regulators were charging Goldman
Sachs Group Inc with fraud, pressured commodities markets as well.

On the New York Mercantile Exchange, May crude settled down $2.27, or 2.65 percent, at $83.24 a barrel, trading from $82.52 to $85.44.

The May crude contract's drop was the biggest one-day percentage loss since Feb. 5, when prices fell 2.7 percent. For the week, prices fell $1.68, or 1.98 percent.

CBOT-SOYBEANS - May up 1-1/4 cents at $9.85-1/4 a bushel. Fund buying amid support from bullish technical signals after May broke through resistance on Thursday at its 200-day moving average.

CBOT-SOYOIL - May down 0.27 cent at 39.80 cents per lb. Meal/oil spreading and pressure from lower crude oil.

FCPO-KUALA LUMPUR, April 16 (Reuters) - Malaysian palm oil futures ended higher on Friday after a four-day losing streak, with lower crude oil prices offset by hopes of stronger exports.

The ringgit , Asia's best performing currency this year, which has been acting as a curb to any gain in palm oil prices, eased against the U.S. dollar.

Benchmark July crude palm oil contract on Bursa Malaysia Derivatives settled down 0.3 percent, or 8 ringgit, at 2,518 ringgit ($789.1). Trade volumes stood at 10,226 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, April 16 (Reuters) - Thai stocks fell to their lowest in a month on Friday on broad selling of big-cap stocks due to political uncertainty following deadly clashes between troops and anti-government protesters in Bangkok.

The Thai SET index <.SETI> ended 3.25 percent lower, after a 3.6 percent loss on Monday before the three-day New Year holiday.

In Indonesia <.JKSE>, losses were led by a 4.4 percent fall in cigarette firm Gudang Garam . Banks fell on profit-taking, with Bank Central Asia down 0.9 percent and Bank Mandiri off 2.9 percent.

The Jakarta rally has made it one of the more expensive markets in the region, with a price-to-book ratio of 3.4 times, higher than Singapore <.FTSTI>, Malaysia <.KLSE> and Thailand at less than 2.0, according to StarMine, a Thomson Reuters company.

In Kuala Lumpur, Axiata Group fell 2.1 percent following its plan to issue $300 million in notes, with the proceeds to be used for repament of term loans.