Tuesday, June 15, 2010

Trader's Highlight

DJI-NEW YORK, June 14 (Reuters) - U.S. stocks ended little changed in a low-volume session on Monday after a downgrade of Greece's debt took the wind out of the market's sails.

Equities have been sensitive to debt problems in Greece and other European nations in recent months on concerns the euro zone's fiscal problems will hamper a global economic recovery.

The Dow Jones industrial average <.DJI> slipped 20.18 points, or 0.20 percent, to 10,190.89. The Standard & Poor's 500 Index <.SPX> shed 1.97 points, or 0.18 percent, to 1,089.63. But the Nasdaq Composite Index <.IXIC> inched up just 0.36 of a point, or 0.02 percent, to 2,243.96.

NYMEX-NEW YORK, June 14 (Reuters) - U.S. crude oil futures ended almost 2 percent higher on Monday, as risk appetite improved on economic recovery optimism after data showed that euro zone industrial production rose, boosting the euro and causing the dollar to decline.

But a credit downgrade of Greece by Moody's Investor Service sparked caution and limited the day's gains.

On the New York Mercantile Exchange, crude for July delivery settled $1.34 higher, or 1.82 percent, at $75.12 a barrel, trading from $74.04 to $75.99.

CBOT-CHICAGO, June 14 (Reuters) - Chicago Board of Trade grains and soy complex close higher on Monday.

CBOT-SOYBEANS - July up 5-1/4 cents at $9.51-1/2 per bushel; new-crop November up 7 at $9.16-1/4. Boosted by weak dollar, higher crude oil and strength in wheat. Front-month July gaining on new-crop November as spreads narrowed.

CBOT-SOYOIL - July up 0.49 cent at 37.39 cents per lb. Following strength in soybeans and crude oil market. Additional support from concern about weather problems curtailing canola production in Canada; canola oil competes with soyoil.

FCPO-KUALA LUMPUR, June 14 (Reuters) - Malaysian crude palm oil futures gained more than 1 percent on Monday, boosted by China's aggressive buying of soyoil.

Palm oil rivals and tracks soyoil as both vegetable oils compete for use in the food and industrial sectors. The tropical oil has been trading at a premium to soyoil due to weak Malaysian production and a bumper soy crop from South America.

In a sign the global economy is growing, the U.S. reported last week that China had bought 80,000 tonnes of soyoil, lifting Chicago futures <0#BO:> in Asian trade on Monday.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 24 ringgit higher at 2,410 ringgit ($734.1) a tonne. Last week, the market fell to more than seven-month lows.

REGIONAL EQUITIES-BANGKOK, June 14 (Reuters) - Thai stocks rose 1.5 percent on Monday as higher consumer confidence boosted appetite for companies reliant on the domestic economy, while energy shares in the region got a lift from a strong oil market.

The Thai index <.SETI> ended at its highest level since May 11, rising for a fourth session as investors bought shares likely to benefit from the improving economy and as political tension eased after the end of disruptive protests in the capital.

Singapore <.FTSTI> rose 0.8 percent, Malaysia <.KLSE> edged up 0.2 percent and Vietnam <.VNI> added 0.8 percent. The Philippines <.PSI> was shut for a market holiday.

Resource shares in the region were higher with Malaysia's Tenaga Nasional up 0.12 percent, Indonesian coal firm Adaro Energy up 1.1 percent and Singapore's palm plantation firm Wilmar International up 1.4 percent.