Friday, July 1, 2011

Trader's Highlight

DJI-NEW YORK, June 30 (Reuters) - U.S. stocks ended a volatile quarter on Thursday with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece's debt crisis indicated further gains in July.

Midwest business activity showed surprising strength this month, lifted by a jump in new orders, the Institute for Supply Management-Chicago said. That helped calm concerns about the economy that have weighed on markets for two months.

The Dow Jones industrial average .DJI was up 152.92 points, or 1.25 percent, at 12,414.34. The Standard & Poor's 500 Index .SPX was up 13.23 points, or 1.01 percent, at 1,320.64. The Nasdaq Composite Index .IXIC advanced 33.03 points, or 1.21percent, at 2,773.52.

NYMEX-NEW YORK, June 30 (Reuters) - U.S. crude futures ended higher for a third straight day on Thursday, but finished 7 percent lower on the month and the quarter down more than 10 percent, the biggest quarterly loss since the end of 2008.

End-of-quarter trading made the session volatile, traders and brokers said. A weak dollar, Greece's passage of an austerity plan and supportive Midwest manufacturing data lent support to crude prices, along with a higher finish by expiring July refined products contracts.

Uncertainty about the effect of consumer nations' release of oil reserves and lingering worries about slowing economic growth limited price strength.

On the New York Mercantile Exchange, crude for August delivery CLQ1 ended up 65 cents, or 0.69 percent, at $95.42 a barrel, having traded from $93.88 to $95.82.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 2 percent, led by a limit drop in corn and several wheat contracts and bearish data in reports from the U.S. Department of Agriculture, traders said.

CBOT soybeans Sc1 ended down 5.1 percent for June, the biggest monthly drop since May 2010.

CBOT soybeans ended the second quarter down 7.4 percent, the worst performance since the first quarter of 2010, and fell 6.3 percent for the first half of 2011.

FCPO-KUALA LUMPUR, Jun 30 (Reuters) - Malaysian palm oil futures fell 1.2 percent on Thursday as traders booked profit on concerns that lower-than-expected exports data and high production could lead to record stocks.

Although cargo surveyors reported Malaysia's palm oil exports in June rose above 1.4 million tonnes -- representing a six percent growth from May -- output is likely to rise at much faster pace thanks to favourable weather.

The benchmark September crude palm oil contract KPOc3 on Bursa Malaysia Derivatives fell 37 ringgit to 3,072 ringgit ($1,012.024) a tonne. Overall traded volume stood at 22,711 lots of 25 tonnes each, lower than the usual 25,000 lots.

REGIONAL EQUITIES-BANGKOK, June 30 (Reuters) - Southeast Asian stock markets pushed higher on Thursday amid a broad rebound in risky assets helped by the Greek parliament's initial vote for an austerity package to tackle debt problems, spurring demand for big-caps at the end of the quarter.

Foreign money flowed into the region, sending stocks in Indonesia .JKSE and Malaysia .KLSE to all-time highs, with shares elsewhere making strong gains.

Half-year window-dressing particularly helped lift blue-chips and boosted turnover in several markets, including Singapore, which saw volume rising to 1.7 times the 30-day average.

Singapore's blue chips posted strong gains on the day, including a 1.8 percent rise in top lender DBS Group Holding DBSM.SI and a 2.3 percent climb in Singapore Telecommunications STEL.SI, the city state's top telecom firm.