DJI- March 23 (Reuters) - The euro rose and world stocks rebounded on Friday, lifted by shares in energy and basic materials, as concerns about global growth were set aside by investors who saw further gains in this year's rally.
Commodity prices ticked higher on the belief a sell-off on Thursday, triggered by slower-than-expected manufacturing data from China and the euro zone, was overdone.
Copper rebounded from a two-week low the previous session, helped by a weaker dollar, falling inventories and an outlook for above-historical consumption levels from Chile's Codelco, the world's top producer.
European shares trimmed losses and Wall Street rose on rebounding energy and material shares. Rising crude oil prices helped the energy sector.
The Dow Jones industrial average <.DJI> closed up 34.59 points, or 0.27 percent, at 13,080.73. The Standard & Poor's 500 Index <.SPX> rose 4.33 points, or 0.31 percent, at 1,397.11. The Nasdaq Composite Index <.IXIC> added 4.60 points, or 0.15 percent, at 3,067.92.
NYMEX- NEW YORK, March 23 (Reuters) - U.S. crude oil futures rose more than 1 percent on Friday, on news that some buyers have stopped or scaled back imports of Iranian oil due to Western sanctions that seek to rein in Tehran's disputed nuclear
program.
Crude exports from Iran appear to have dropped this month to around 300,000 barrels per day, or 14 percent, estimates by UK industry consultant Petrologistics and a large European oil company show.
Oil futures also rose on rumors that Israel was mobilizing its forces. Israel later denied any such move.
A mixed report on U.S. housing, in which single family home sales fell in February while prices jump to an eight-month high caused crude futures to pare gains.
On the New York Mercantile Exchange, crude for May delivery settled at $106.87 a barrel, gaining $1.52, or 1.44 percent. For the week, front-month crude fell 19 cents, or 0.18 percent.
CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade closed 1.3 percent higher, buoyed by worries about drought-hit crops in South America and possible insufficient U.S. soy seedings, traders said.
Firm cash markets supported, with more U.S. old-crop soy sales to China expected amid South America's crop woes. Traders said China bought a cargo of U.S. soybeans on Thursday for April shipment from the Pacific Northwest.
Strength in crude oil lended support. U.S. and Brent crude futures advanced on news that Iranian oil exports have fallen significantly this month amid tightening Western sanctions.
FCPO- SINGAPORE, March 23 (Reuters) - Malaysian palm oil futures rose to a nine-month high on Friday, as an upbeat demand outlook for the edible oil supported prices and investor optimism returned after earlier fears of a slowdown in global growth and commodity demand.
Palm oil fell to a nine-day low on Thursday after data showed China's economic momentum slowed in March as factory activity shrank for a fifth straight month, leaving investors fretting about the risks to global growth.
But palm oil traders are betting on increased buying interest from the other major palm oil importers, Europe and India, to support the tropical oil, lifting futures to notch a yearly gain of 8 percent this year.
Benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange gained 2.5 percent to close at 3,426 ringgit ($1,097) per tonne, lifting futures to post a gain of 0.8 percent this week.
Traded volumes stood at 32,759 lots of 25 tonnes each, higher than the usual 25,000 lots as traders were short covering ahead of the weekend.
REGIONAL EQUITY- BANGKOK, March 23 (Reuters) - Most Southeast Asian stocks recouped early losses to end modestly higher on Friday, helped by late buying in beaten-down blue-chips and resource-related shares.
Sentiment in the region turned more positive as European equity markets steadied following four straight sessions of losses sparked by concerns over the global growth outlook.
Among bright spots on Friday, Genting Singapore PLC surged almost 7 percent after Singapore's move to license two casino junket operators, and analysts said it could help the firm attract more big gamblers to its casino and lower
credit risk.
Malaysia-listed Genting Bhd which controls Genting Singapore, gained 2.2 percent.
