Wednesday, April 21, 2010

Trader's Highlight

DJI-NEW YORK, April 20 (Reuters) - U.S. stocks rose on Tuesday as oil prices lifted energy shares and investors were upbeat about the overall profits recovery, even as some high-profile results fell short of lofty expectations.

Goldman Sachs earnings trounced forecasts, but its stock slipped 2.1 percent to $159.98. UK regulators launched a probe into alleged fraud by the company, adding to worries caused by U.S. fraud charges.

The Dow Jones industrial average <.DJI> added 25.01 points, or 0.23 percent, to 11,117.06. The Standard & Poor's 500 Index <.SPX> rose 9.65 points, or 0.81 percent, to 1,207.17. The Nasdaq Composite Index <.IXIC> gained 20.20 points, or 0.81 percent, to 2,500.31.

NYMEX-NEW YORK, April 20 (Reuters) - U.S. crude oil futures edged up in post-settlement trading on Tuesday after industry data showed that crude stocks fell more than expected last week.

Heating oil and gasoline futures also inched up, after data from the American Petroleum Institute showed that inventories of those petroleum products fell, against forecasts that they increased.

On the New York Mercantile Exchange, June crude was up 93 cents, or 1.12 percent, at $84.06 a barrel. It had settled up 72 cents, or 0.87 percent, at $83.85, trading from $83.17 to $84.52.

CBOT-CHICAGO, April 20 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - May up 7-1/4 cents at $9.84 per bushel; November up 7-1/4 at $9.63-1/4. Short-covering bounce after the sharp decline on Monday. Strong export demand and firm crude oil prices lend support.

CBOT-SOYOIL - May up 0.14 cent at 39.07 cents per lb. Short-covering, gains in soybeans and firm crude oil lift soyoil futures.

FCPO-KUALA LUMPUR, April 20 (Reuters) - Malaysian palm oil futures climbed 1.1 percent on Tuesday, recovering from an 11-week low in the previous session due to better export data and rising crude prices.

The ringgit , Asia's best performing currency so far this year, rose against the U.S. dollar and curbed further gains in palm oil markets. A stronger ringgit makes crude palm oil more expensive for refiners and eats into their margins.

The benchmark July crude palm oil futures on Bursa Malaysia Deravatives Exchange settled up 28 ringgit to 2,498 ringgit ($776.7) per tonne. On Monday the contract fell to 2,455 ringgit the previous session, a level unseen since Feb. 2.

Overall traded volume rose to 17,814 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-COLOMBO, April 20 (Reuters) - Thai stocks rose more than 5 percent on Tuesday, turning round from a three-session fall as some investors took the view the authorities were ready to take action to end protracted anti-government protests in the capital. Foreigners returned as valuations remained cheap, analysts said.

Regional markets that had been hurt by worries over the fraud allegations against Goldman Sachs recovered some poise, with Singapore <.FTSTI> rising 0.7 percent, Indonesia <.JKSE> 1.8 percent and Malaysia <.KLSE> 0.7 percent, led by banking shares.

In Singapore, Oversea-Chinese Banking Corp gained 0.4 percent and United Overseas Bank added 0.8 percent. Bucking the trend, top lender DBS Group Holdings fell 0.4 percent.