Friday, June 18, 2010

Trader's Highlight

DJI-NEW YORK, June 17 (Reuters) - U.S. stocks fell on Thursday as slowing regional factory activity and jobless claims underscored worries about the pace of the economic recovery.

Shares of manufacturers fell, including 3M Co , which was down 0.6 percent at $80.43, while the consumer discretionary sector also dragged the market lower. The S&P retail index <.RLX> declined 1.5 percent.

NYMEX-NEW YORK, June 17 (Reuters) - U.S. crude oil futures fell on Thursday amid a rise in jobless claims, a report showing factory growth plummeted in the U.S. Mid-Atlantic region and the expiration of July crude options.

Brent front-month crude finished higher, holding on to some of its early gains on optimism tied to a Spanish bond auction. NYMEX refined products also ended higher on refinery glitches and signs of improving demand, also pushing up heating
oil product crack spreads.

On the New York Mercantile Exchange, July crude fell 88 cents, or 0.88 percent, to settle at $76.79 a barrel, trading from $76.17 to $77.79.

CBOT-CHICAGO, June 17 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - July down 5-3/4 at $9.52 per bushel; new-crop November up 1/2 at $9.25. Spot July weighed down by low soy number in USDA's weekly export sales report, including a cancellation by Japan. Other months held relatively firm versus July on wet weather in Canada that was trimming canola output prospects.

CBOT-SOYOIL - July down 0.08 cent at 38.05 cents per lb. Pressure from lower crude oil and weak close in spot July soy.

FCPO-KUALA LUMPUR, June 17 (Reuters) - Malaysian palm oil futures gained 0.8 percent on Thursday on technical buying as crude oil prices bounced off lows as investor risk appetite revived following a successful Spanish bond auction.

Crude oil, a barometer for commodity markets trimmed earlier losses and was trading above $77 a barrel on Thursday.

The benchmark September crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 18 ringgit higher at 2,398 ringgit ($736.9) a tonne. The contract had hit a fresh seven-month low the previous day.

Traded volume rose to 13,435 lots of 25 tonnes each from the usual 10,000 tonnes.

REGIONAL EQUITIES-BANGKOK, June 17 (Reuters) - Indonesian shares gained more than 1 percent on Thursday and most other Southeast Asian bourses edged higher as optimism about the region's growth prospects bolstered appetite for shares reliant on domestic economies.

In Bangkok, the index hit its highest since May 4, with Total Access Communication climbing 2.8 percent on expectations the country's second-largest mobile phone firm would win a bid for 3G mobile licences scheduled for August.

Indonesia's benchmark stock index <.JKSE> rose for a fifth session, closing at its highest level since May 5, with state lender Bank Mandiri up 2.7 percent and number six lender Bank Danamon up 5.9 percent.

Malaysia <.KLSE> inched up 0.1 percent, led by financial firms, with AMMB Holdings up 1.2 percent and Hong Leong Bank 1.8 percent higher.

Singapore's main share index <.FTSTI>, bucking the regional trend, edged down 0.1 percent, turning lower after a 1 percent gain on Wednesday to its highest in almost five weeks.