Friday, October 1, 2010

Trader's Highlight

DJI-NEW YORK, Sept 30 (Reuters) - Wall Street wrapped up its best quarter in a year on Thursday with the S&P and Nasdaq logging in the biggest monthly gains since April 2009, as data showed the economy isn't in such bad shape.

Defying September's track record as the worst month for stocks, the S&P 500 was up 8.8 percent. In the third quarter, the index gained 10.7 percent, which was the best in a year. For factboxes on quarterly stocks performance

The Dow Jones industrial average <.DJI> slipped 47.23 points, or 0.44 percent, to 10,788.05. The Standard & Poor's 500 Index <.SPX> declined 3.53 points, or 0.31 percent, to 1,141.20. The Nasdaq Composite Index <.IXIC> fell 7.94 points, or 0.33 percent, to 2,368.62.

NYMEX-NEW YORK, Sept 30 (Reuters) - U.S. crude oil futures ended at a seven-week high near $80 a barrel on Thursday, up nearly 3 percent, and turned in the biggest monthly gain in 1-1/2 years as data painted an improved outlook for the economy.

Front-month crude also posted the strongest quarterly performance since the fourth quarter of 2009.

As the third quarter ended, heating oil futures -- used by many traders as a proxy for diesel -- emerged as the leader of the oil complex as strong demand for diesel in emerging markets and Europe propelled prices higher.

On the New York Mercantile Exchange, crude for November delivery settled up $2.11 or 2.71 percent at $79.97 a barrel after hitting a session peak of $80.18, the highest since Aug. 11.

CBOT-CHICAGO, Sept 30 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.

CBOT-SOYBEANS - November up 7-3/4 cents at $11.06-3/4 a bushel. Boosted by big number for soybeans in USDA's weekly export sales report.

CBOT-SOYOIL - October up 0.64 cent at 44.70 cents per lb. Rally in crude oil lifted soyoil as did deliveries on October near the low end of estimates.

FCPO-KUALA LUMPUR/JAKARTA, Sept 30 (Reuters) - Malaysian palm oil rose 1.19 percent on Thursday, booking its first quarterly gain in a year as a global economic recovery fueled demand and erratic weather patterns meant an uncertain grain crop outlook worldwide.

Palm oil gained 15.04 percent in the third quarter and other vegetable oil markets also gained in their first positive quarter for the same period, despite news of China getting ready to sell state reserves and higher yields from the incoming U.S. soy crop.

Benchmark December palm oil <0#KPO:> on the Bursa Malaysia Derivatives Exchange closed up 1.19 percent at 2,730 ringgit ($885) per tonne. Trading was heavy with volumes of 13,775 lots of 25 tonnes each, up from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Sept 30 (Reuters) - Southeast Asian stock markets generally eked out small gains on Thursday but most posted their biggest quarterly rise this year thanks to solid economies and strong inflows.

Foreign buying helped push markets in the region to multi-year highs in the third quarter, making Indonesia <.JKSE> the second-best among Asian markets this year and the Philippines <.PSI> number three.

However, signs that the regional rally may cool are growing because of markets' already-rich valuations and the likelihood regional economies will slow next year.

Singapore <.FTSTI> lost 0.3 percent, coming off a 27-month high hit early this week, and the Philippines <.PSI> eased 0.3 percent after hitting a record high.

Valuations in the region are stretched, with Indonesia's 12-month forward price to earnings ratio at 15.6 compared with 13.1 for all of Asia, according to Thomson Reuters StarMine.

It is followed by Malaysia's 14.9, the Philippines' 14.2, Singapore's 13.9, Thailand's 12.5 and Vietnam's 11.9, the data showed.

In Singapore, casino operator Genting Singapore fell 2.1 percent. Genting's earnings outlook sent the stock to a record high in the quarter but investors have sold the overbought stock in the past week.