Monday, September 19, 2011

Trader's Highlight

DJI-NEW YORK , Sept 16 (Reuters) - Global equities rose for a fourth straight day on Friday, but the euro slid as hope Europe was finally getting a grip on the region's debt crisis was offset by lingering fears Greece is still at risk of default.

The Nasdaq stock market posted its biggest weekly advance since July 2009, and gains elsewhere in global equity markets suggested risk aversion has dissipated.

The euro EUR= headed for its best week in eight against the U.S. dollar, even as it slipped 0.7 percent to $1.3785 on Friday. The announcement on Thursday that the world's leading central banks will boost short-term dollar funding for European banks facing a dollar shortage buoyed the euro.

The Dow Jones industrial average .DJI closed up 75.91 points, or 0.66 percent, at 11,509.09. The Standard & Poor's 500 Index .SPX gained 6.90 points, or 0.57 percent, at 1,216.01. The Nasdaq Composite Index .IXIC added 15.24 points, or 0.58 percent, at 2,622.31.

NYMEX-NEW YORK, Sept 16 (Reuters) - U.S. crude futures fell more than 1 percent on Friday as uncertainties surrounding the euro zone debt crisis and gloomy consumer outlook in the United States prompted pre-weekend selling.

As the euro dropped on a spate of negative news in Europe, the dollar rose, encouraging investors to unwind some risky bets in oil futures.

On the New York Mercantile Exchange, crude for October delivery CLV1 settled at $87.96 a barrel, dropping $1.44, or 1.61 percent, after trading from $87.00 to $89.78.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended narrowly mixed as spillover pressure from weaker U.S. crude oil prices and a firmer dollar offset support from short-covering, traders said.

Trading volume in soybean futures was down about 10 percent from the 30-day average.

Spot soybean futures Sc1 ended the week down 4.6 percent, their biggest weekly drop since early May, amid fund long liquidation.

FCPO-JAKARTA, Sept 15 (Reuters) - Malaysian palm oil futures hit+ a near six-week high on Thursday, boosted by currencies and firmer crude prices, although concerns over falling exports and lingering economic uncertainty capped gains.

Benchmark November palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange added 0.4 percent to close at 3,078 Malaysian ringgit ($999) per tonne, off an earlier low of 3,036 ringgit.

REGIONAL EQUITIES-BANGKOK, Sept 16 (Reuters) - Some Southeast Asian stock markets gained on Friday as financials bounced back, with global sentiment reviving on hopes European policymakers would finally come up with a bold plan to combat a deepening debt crisis.

Still, trading volume was relatively light as a long-term solution to the euro zone's sovereign debt issues remained uncertain, and stocks in the region suffered their worst weekly loss this month.

The battered region lured some bargain hunters as the healthy outlook for domestic consumption boded well for some sectors, such as consumer, property and banks, brokers said.

Singapore's Straits Times Index .FTSTI edged up 0.8 percent, extending gains for a third session. Philippine stocks .PSI ended nearly flat, erasing early gains, while Thai shares .SETI eased 0.3 percent, after an early climb.