DJI- NEW YORK, Feb 1 (Reuters) - The euro rose on speculation a Greek debt deal was close at hand on Wednesday while global equity markets surged on encouraging U.S., Chinese and German manufacturing data - even though enthusiasm ebbed at the session's end.
Wall Street stocks rallied after a report showed that U.S. manufacturing activity grew at its strongest pace in seven months in January, shrugging off data suggesting Europe is struggling with fallout from its festering debt crisis.
The U.S. data helped power an almost 2 percent rise in European shares, which also got a boost from data showing that China's manufacturing output was no longer contracting.
Optimism spurred gains in U.S. industrials, financials and basic materials, which rose between 1.1 percent and 1.7 percent, on higher trading volume than has been seen in recent days.
The Dow Jones industrial average closed up 83.55 points, or 0.66 percent, at 12,716.46. The Standard & Poor's 500 Index gained 11.67 points, or 0.89 percent, at 1,324.08. The Nasdaq Composite Index climbed 34.43 points, or 1.22 percent, at2,848.27.
NYMEX- NEW YORK, Feb 1 (Reuters) - U.S. crude futures fell a fourth straight session on Wednesday as data showing larger crude oil and gasoline inventories in the United States countered support from economic data from China and ongoing tensions concerning Iran's nuclear program.
U.S. crude oil inventories rose 4.18 million barrels last week, the U.S. Energy Information Administration's weekly report said, a bigger rise than expected.
Gasoline stockpiles rose 3.02 million barrels, while distillate stockpiles fell 135,000 barrels, the EIA said. Crude stocks were expected to be up 2.4 million barrels and gasoline up by 1.0 million barrels, a Reuters survey of analysts ahead of
the weekly inventory report showed.
On the New York Mercantile Exchange, March crude fell 87 cents, or 0.88 percent, to settle at $97.61 a barrel. It traded as high as $99.49, above its 50-day moving average of $99.18, before falling as low as $97.20 in post-settlement trading.
CBOT SOYBEANS, Chicago Board of Trade soybean futures rose 1.5 percent due to rising demand on the export market and firming cash markets amid slow country movement of supplies, traders said.
The benchmark CBOT March soybean contract closed above its 100-day moving average, a key technical resistance level. Soymeal and soyoil futures also posted sharp gains.
Spot basis bids were steady to higher at U.S. Midwest elevators, processors and river terminals on Wednesday morning. Bids also firmed in the export market as exporters tried to fill vessels with supplies.
The U.S. Agriculture Department said on Wednesday that exporters sold 120,000 tonnes of U.S. soybeans to China, the world's top importer, for delivery in the 2011/12 marketing year.
Analysts were expecting the USDA's weekly report on Thursday morning to show export sales of soybeans in a range from 350,000 to 550,000 tonnes. Soymeal export sales were expected to come in between 75,000 and 150,000 tonnes while soyoil export sales were forecast in a range from zero to 10,000
tonnes.
FCPO- SINGAPORE, Jan 31 (Reuters) - Malaysian crude palm oil futures ended largely unchanged on Tuesday after falling near a six-week low as investors fretted about the prospects of weakening demand for the edible oil and uncertainty surrounding
the euro zone debt crisis.
Benchmark April palm oil futureson the Bursa Malaysia Derivatives Exchange ended 0.1 percent lower to close at 3,078 ringgit ($1,013) per tonne. Prices earlier touched3,044 ringgit, a level last seen since Dec. 21.
Traded volumes were thin at 17,183 tonnes of 25 tonnes each, compared to the usual 25,000 tonnes.
REGIONAL EQUITY- Feb 1 (Reuters) - Most Southeast Asian stock markets edged higher on Wednesday as demand for growth stocks lifted consumer and resource-related shares outperform amid a bout of profit-taking across the region following a rally in January.
Optimism that the region will keep growing more quickly than others and some hope for an improving global economy helped attract investors to Southeast Asian markets, brokers said.
Bargain hunters sought selected blue-chip shares based on the belief they will report good earnings, they said.
Singapore's benchmark Straits Times Index <.FTSTI> drifted down 0.1 percent after rising more than 9 percent in January, broadly in line with the MSCI Asia ex-Japan.
Malaysia <.KLSE> was shut for a market holiday and will reopen on Thursday. Kuala Lumpur lost 0.6 percent in January,faring worst in the region.
Some regional big caps retreated after their rally last month.
Singapore's DBS Group Holdings Ltd, which surged nearly 18 percent in January, fell 0.15 percent. Offshore marine firm Keppel Corp Ltd dropped 2.2 percent after a 16.7 percent gain of the previous month.
Singapore had been less favoured because of its relatively greater global exposure. The local index fell about 17 percent last year, Southeast Asia's second worst performer after Vietnam.
Wall Street stocks rallied after a report showed that U.S. manufacturing activity grew at its strongest pace in seven months in January, shrugging off data suggesting Europe is struggling with fallout from its festering debt crisis.
The U.S. data helped power an almost 2 percent rise in European shares, which also got a boost from data showing that China's manufacturing output was no longer contracting.
Optimism spurred gains in U.S. industrials, financials and basic materials, which rose between 1.1 percent and 1.7 percent, on higher trading volume than has been seen in recent days.
The Dow Jones industrial average closed up 83.55 points, or 0.66 percent, at 12,716.46. The Standard & Poor's 500 Index gained 11.67 points, or 0.89 percent, at 1,324.08. The Nasdaq Composite Index climbed 34.43 points, or 1.22 percent, at2,848.27.
NYMEX- NEW YORK, Feb 1 (Reuters) - U.S. crude futures fell a fourth straight session on Wednesday as data showing larger crude oil and gasoline inventories in the United States countered support from economic data from China and ongoing tensions concerning Iran's nuclear program.
U.S. crude oil inventories rose 4.18 million barrels last week, the U.S. Energy Information Administration's weekly report said, a bigger rise than expected.
Gasoline stockpiles rose 3.02 million barrels, while distillate stockpiles fell 135,000 barrels, the EIA said. Crude stocks were expected to be up 2.4 million barrels and gasoline up by 1.0 million barrels, a Reuters survey of analysts ahead of
the weekly inventory report showed.
On the New York Mercantile Exchange, March crude fell 87 cents, or 0.88 percent, to settle at $97.61 a barrel. It traded as high as $99.49, above its 50-day moving average of $99.18, before falling as low as $97.20 in post-settlement trading.
CBOT SOYBEANS, Chicago Board of Trade soybean futures rose 1.5 percent due to rising demand on the export market and firming cash markets amid slow country movement of supplies, traders said.
The benchmark CBOT March soybean contract closed above its 100-day moving average, a key technical resistance level. Soymeal and soyoil futures also posted sharp gains.
Spot basis bids were steady to higher at U.S. Midwest elevators, processors and river terminals on Wednesday morning. Bids also firmed in the export market as exporters tried to fill vessels with supplies.
The U.S. Agriculture Department said on Wednesday that exporters sold 120,000 tonnes of U.S. soybeans to China, the world's top importer, for delivery in the 2011/12 marketing year.
Analysts were expecting the USDA's weekly report on Thursday morning to show export sales of soybeans in a range from 350,000 to 550,000 tonnes. Soymeal export sales were expected to come in between 75,000 and 150,000 tonnes while soyoil export sales were forecast in a range from zero to 10,000
tonnes.
FCPO- SINGAPORE, Jan 31 (Reuters) - Malaysian crude palm oil futures ended largely unchanged on Tuesday after falling near a six-week low as investors fretted about the prospects of weakening demand for the edible oil and uncertainty surrounding
the euro zone debt crisis.
Benchmark April palm oil futures
Traded volumes were thin at 17,183 tonnes of 25 tonnes each, compared to the usual 25,000 tonnes.
REGIONAL EQUITY- Feb 1 (Reuters) - Most Southeast Asian stock markets edged higher on Wednesday as demand for growth stocks lifted consumer and resource-related shares outperform amid a bout of profit-taking across the region following a rally in January.
Optimism that the region will keep growing more quickly than others and some hope for an improving global economy helped attract investors to Southeast Asian markets, brokers said.
Bargain hunters sought selected blue-chip shares based on the belief they will report good earnings, they said.
Singapore's benchmark Straits Times Index <.FTSTI> drifted down 0.1 percent after rising more than 9 percent in January, broadly in line with the MSCI Asia ex-Japan.
Malaysia <.KLSE> was shut for a market holiday and will reopen on Thursday. Kuala Lumpur lost 0.6 percent in January,faring worst in the region.
Some regional big caps retreated after their rally last month.
Singapore's DBS Group Holdings Ltd
Singapore had been less favoured because of its relatively greater global exposure. The local index fell about 17 percent last year, Southeast Asia's second worst performer after Vietnam.
