Tuesday, March 22, 2011

Trader's Highlight

DJI-NEW YORK, March 21 (Reuters) - U.S. stocks ended higher on Monday as the biggest proposed merger of the year enticed buyers into the market, though crises in Japan and the Middle East and North Africa assured continued market volatility.

Based on the latest available data, the Dow Jones industrial average <.DJI> jumped 178.01 points, or 1.50 percent, at 12,036.53. The Standard & Poor's 500 Index <.SPX> was up 19.15 points, or 1.50 percent, at 1,298.35. The Nasdaq Composite Index <.IXIC> advanced 48.42 points, or 1.83 percent, at 2,692.09.

NYMEX-NEW YORK, March 21 (Reuters) - U.S. crude oil futures ended up more than 1 percent on Monday as U.N.-mandated air strikes in Libya and growing unrest in the Middle East sparked more worries about supply disruptions.

Libyan rebels, emboldened by support through the air strikes, said they aimed to capture Tripoli, and force out Muammar Gaddafi.

On the New York Mercantile Exchange, crude for April delivery settled at $102.33 a barrel, gaining $1.26, or 1.25 percent. It traded on thin volume from $101.66 to $103.35.

CBOT-CHICAGO, March 21 (Reuters) - Chicago Board of Trade soybeans last traded higher on Monday in tandem with gains in corn, with new-crop November rising nearly 1percent.

CBOT-SOYMEAL - May last trades down $1.70 at $366.20 per ton. Support from soybeans.

CBOT-SOYOIL - May last trades up 0.09 cent at 55.86 cents per lb.

FCPO-KUALA LUMPUR, March 21 (Reuters) - Malaysia's palm oil futures hit a ten-day high on Monday as traders hunted for bargains after a temporary easing of the nuclear crisis in quake-hit Japan.

But gains were limited by lower Malaysian export data for the first 20 days of March, underscoring fears that global economy will still slow with this month's earthquake and tsunami hitting the world's No.3 economy.

The benchmark June 2011 crude palm oil contract on Bursa Malaysia Derivatives rose as much as 1.2 percent to 3,489 ringgit ($1,143) a tonne, a level unseen since March 11. By midday the contract stood at 3,457 ringgit. Overall volume stood at 7,492 lots at 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, March 21 (Reuters) - Southeast Asian stock markets rose on Monday as worries about Japan's nuclear problems eased a little, but volume was thin as investors remained concerned about oil prices after Western powers launched air strikes on Libya.

Investors bought shares in what were seen by some as oversold markets in the region, driving the Thai SET index <.SETI> and Singapore <.FTSTI> to a one-week high.

Singapore <.FTSTI> gained 1.6 percent, as did Vietnam <.VNI>, Indonesia <.JKSE> rose 0.7 percent, Malaysia <.KLSE> closed 0.3 percent firmer and the Philippines edged up 0.1 percent.