DJI- NEW YORK, Feb 10 (Reuters) - The S&P 500 posted its biggest daily percentage decline thus far in 2012 on Friday after an about-face on Greece's long-awaited debt deal ended a five-week streak of gains for equities.
All but one of the 30 Dow components ended lower while all 10 S&P sectors fell, with cyclical sectors such as energy, financials and materials the biggest losers.
The Dow Jones industrial average was down 89.23 points, or 0.69 percent, at 12,801.23. The Standard & Poor's 500 Index was down 9.31 points, or 0.69 percent, at 1,342.64. The Nasdaq Composite Index was down 23.35 points, or 0.80 percent, at 2,903.88.
NYMEX- NEW YORK, Feb 10 (Reuters) - U.S. crude oil futures fell on Friday for the first time in four sessions after a far-right party in Greece refused to sign off on austerity measures, denting the country's efforts to secure an EU-IMF bailout package to avoid a crippling debt default.
But late in the day, the Greek cabinet approved a draft bill commiting Greece to reforms the EU and the IMF require in return for the bailout package. A parliamentary vote was set for Sunday, keeping hopes alive that the country would not fall into default.
On the New York Mercantile Exchange, crude for March delivery settled at $98.67 a barrel, falling $1.17, or 1.17 percent. For the week, U.S. front-month crude rose 83 cents, or 0.85 percent from the $97.84 close on Feb. 3.
CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade closed firm on Friday after spending most of the session in the red, with the market rallying into the closing bell on a late flurry of buying.
Traders attributed the late-day rally variously to worries about hot and dry conditions in southern Brazil, traders buying soybeans against corn on intermarket spreads, and talk of Brazil increasing its biodiesel mandate later this year.
Soyoil gained relative to soymeal. Soybeans and other commodities were pressured for most of the session by a surge in the U.S. dollar as the euro fell after another snag in negotiations for a financial bailout package for Greece.
CBOT soybeans unofficially ended the week down 0.3 percent, snapping a three-week advance.
FCPO- SINGAPORE, Feb 10 (Reuters) - Malaysian crude palm oil fell on Friday on the back of a bearish U.S. crop report and prospects of slowing demand, although losses were capped by a long-awaited bailout deal for Greece which has yet to be
approved.
The U.S Department of Agriculture on Thursday forecast larger-than-expected soybean supplies in its monthly report even as a severe drought curbed yields in Brazil and Argentina, putting pressure on palm oil prices, which track soybean oil closely.
The market's a little bearish because it expects a steeper production drop in the South American crop," said a dealer with a foreign commodities brokerage in Kuala Lumpur.
However, the low production season in the first quarter and improving demand from China and India should support crude palm oil prices in the range of 3,000 to 3,200 ringgit in the near term," added the dealer.
Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange lost 0.5 percent to close at 3,131 ringgit ($1,034) per tonne. The futures market has lost 1.4 percent so far this year. Traded volumes were thin at 22,375 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITY- BANGKOK, Feb 10 (Reuters) - Southeast Asian stock indexes were mostly weaker on Friday as investors, awaiting a rescue package for Greece, trimmed positions in risky assets.
Jakarta's Composite Index shed 1.67 percent, falling at one point to the lowest since Jan. 16. One factor dragging it down was banks, hit by Bank Indonesia's unexpected decision on Thursday to cut the benchmark interest rates.
Some analysts said the rate cut dampened margin outlooks of banks and broad sentiment of the sector. Still, there was some optimism about the selling of bank shares did not signal the end of a bull market.
In Singapore, property developer CapitaLand Ltd and commodities firm Olam International pulled back after recent gains. CapitaLand fell 3.1 percent while Olam was down 2.9 percent.
Among weak spots, palm plantation firm Sime Darby Bhd edged down 0.3 percent and Thai petrochemical firm PTT Global Chemical Pclfell 1.4 percent. They had rallied early this week.
All but one of the 30 Dow components ended lower while all 10 S&P sectors fell, with cyclical sectors such as energy, financials and materials the biggest losers.
The Dow Jones industrial average was down 89.23 points, or 0.69 percent, at 12,801.23. The Standard & Poor's 500 Index was down 9.31 points, or 0.69 percent, at 1,342.64. The Nasdaq Composite Index was down 23.35 points, or 0.80 percent, at 2,903.88.
NYMEX- NEW YORK, Feb 10 (Reuters) - U.S. crude oil futures fell on Friday for the first time in four sessions after a far-right party in Greece refused to sign off on austerity measures, denting the country's efforts to secure an EU-IMF bailout package to avoid a crippling debt default.
But late in the day, the Greek cabinet approved a draft bill commiting Greece to reforms the EU and the IMF require in return for the bailout package. A parliamentary vote was set for Sunday, keeping hopes alive that the country would not fall into default.
On the New York Mercantile Exchange, crude for March delivery settled at $98.67 a barrel, falling $1.17, or 1.17 percent. For the week, U.S. front-month crude rose 83 cents, or 0.85 percent from the $97.84 close on Feb. 3.
CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade closed firm on Friday after spending most of the session in the red, with the market rallying into the closing bell on a late flurry of buying.
Traders attributed the late-day rally variously to worries about hot and dry conditions in southern Brazil, traders buying soybeans against corn on intermarket spreads, and talk of Brazil increasing its biodiesel mandate later this year.
Soyoil gained relative to soymeal. Soybeans and other commodities were pressured for most of the session by a surge in the U.S. dollar as the euro fell after another snag in negotiations for a financial bailout package for Greece.
CBOT soybeans unofficially ended the week down 0.3 percent, snapping a three-week advance.
FCPO- SINGAPORE, Feb 10 (Reuters) - Malaysian crude palm oil fell on Friday on the back of a bearish U.S. crop report and prospects of slowing demand, although losses were capped by a long-awaited bailout deal for Greece which has yet to be
approved.
The U.S Department of Agriculture on Thursday forecast larger-than-expected soybean supplies in its monthly report even as a severe drought curbed yields in Brazil and Argentina, putting pressure on palm oil prices, which track soybean oil closely.
The market's a little bearish because it expects a steeper production drop in the South American crop," said a dealer with a foreign commodities brokerage in Kuala Lumpur.
However, the low production season in the first quarter and improving demand from China and India should support crude palm oil prices in the range of 3,000 to 3,200 ringgit in the near term," added the dealer.
Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange lost 0.5 percent to close at 3,131 ringgit ($1,034) per tonne. The futures market has lost 1.4 percent so far this year. Traded volumes were thin at 22,375 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITY- BANGKOK, Feb 10 (Reuters) - Southeast Asian stock indexes were mostly weaker on Friday as investors, awaiting a rescue package for Greece, trimmed positions in risky assets.
Jakarta's Composite Index shed 1.67 percent, falling at one point to the lowest since Jan. 16. One factor dragging it down was banks, hit by Bank Indonesia's unexpected decision on Thursday to cut the benchmark interest rates.
Some analysts said the rate cut dampened margin outlooks of banks and broad sentiment of the sector. Still, there was some optimism about the selling of bank shares did not signal the end of a bull market.
In Singapore, property developer CapitaLand Ltd and commodities firm Olam International pulled back after recent gains. CapitaLand fell 3.1 percent while Olam was down 2.9 percent.
Among weak spots, palm plantation firm Sime Darby Bhd edged down 0.3 percent and Thai petrochemical firm PTT Global Chemical Pcl
