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Brent Despite ConcernsTitle:
Markets extend gains on value hunt, hopes for EU summit
(Reuters) - Markets extended gains in Asia on Tuesday with investors hunting for bargains in shares beaten down to 2012 lows late last week, as hopes grew that Europe could agree on fresh action to tackle its debt crisis while promoting growth.
A Chinese media report saying Beijing will accelerate infrastructure investments to combat slowing growth lifted Hong Kong and Chinese shares by 1.2 percent .HSI and 0.6 percent .SSEC respectively.
European shares looked likely to extend gains, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open as much as 1.0 percent higher. U.S. stock futures were up 0.1 percent. .EU .L .N
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.4 percent, having recovered on Monday from a ...
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Global stocks rebound from year's lows, euro dips
(Reuters) - Global stocks rebounded from their lows for the year on Monday as world leaders emphasized their support for economic growth in the euro zone, but the euro dipped on persistent concerns that Greece could leave the bloc.
Many investors and analysts see the pause in selling of stocks and other risky assets as temporary, given the uncertainties ahead for Greece, which holds national elections on June 17.
On Saturday, leaders of the Group of Eight nations stressed that their "imperative is to promote growth and jobs" for the euro zone and expressed support for Greece to stay in the euro.
Despite calls from the United States for immediate moves to boost growth, no sign emerged that Germany would soften its stance on austerity as the cure for Europe's debt problems.
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Global stocks rise from year's lows, euro dips
(Reuters) - Global stocks rose on Monday from their lows for the year as world leaders voiced support for economic growth in the euro zone and China, but the euro dipped on persistent concerns that Greece could leave the bloc.
Many investors and analysts reckon the pause in selling stocks and other risky assets as temporary, given the uncertainties ahead for Greece, which holds national elections on June 17.
On Saturday, leaders of the Group of Eight nations stressed that their "imperative is to promote growth and jobs" for the euro zone and expressed support for Greece to stay in the euro.
But despite calls from the United States for immediate moves to boost growth, no sign emerged that Germany would soften its stance on austerity as the cure for Europe's debt problems.
"More ...
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Brent edges up toward $108, Greece weighs
(Reuters) - Oil prices edged higher on Monday, nearing $108 per barrel as worries about Greece's possible exit from the euro dominated the agenda, despite the prospect of an economic stimulus in China and concerns about Iran as talks with world leaders start this week.
A summit of the G8 at the weekend failed to deliver any signal that Europe would act quickly to address the risk of a chaotic Greek exit from the euro, leaving investors in a state of alert, curbing an upturn in oil prices.
"Gains may be short-lived as EU politicians as usual are having a hard time agreeing on anything. However an interesting week ahead with the European debt crisis posing a risk on the downside and the potential for nuclear talks with Iran to fail on the upside," said Thorbjoern Bak Jensen, oil analyst at ...
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Brent rises toward $108, China stimulus hopes aid
(Reuters) - Brent crude rose towards $108 per barrel on Monday, recovering from a 2012 low, on hopes China could take steps to stimulate growth and lift fuel demand at the world's second largest oil user, although concerns about the euro zone crisis capped gains.
China's premier called for additional efforts to support growth on Sunday, while Goldman Sachs said world oil demand was growing despite recent weak economic data. The comments proved to be a bright spot for oil markets, battered in the past weeks by fears Greece's political turmoil could spread to other countries in Europe.
Brent crude rose for the first time in four sessions, adding 68 cents to $107.82 a barrel by 0620 GMT. Front-month prices slipped to a 2012 low on Friday. In the last three weeks, Brent has shed almost 11 ...
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Dukascopy Afternoon Forex Overview : 05/18/2012
Dukascopy Fundamental Analysis
EUR
Moody's reduced credit rating of 16 Span's banks, citing a rise in bad debts in the country's financial sector and overall deterioration of the economic environment. The decision came after shares of Bankia lost another 14%. The largest banks such as Banco Santander and BBVA were downgraded while ten out of 17 banks were put on negative watch, implying that further credit rating cuts are possible.
USD
As the U.S. dollar gets stronger, investors are concerned that aggravating debt crisis in Europe will reduce demand for oil. Therefore, oil shows decline for a third week. Crude oil lost 25 cents yesterday and reached the 6-month low of $92.56. Brent oil for July delivery slid 0.5 percent to finish at $106.99.
GBP
Following a downgrade of 16 Spanish banks, ...
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Oil eases to around $113 on weak Chinese data
(Reuters) - Oil fell to around $113 per barrel on Thursday as weaker-than-expected Chinese trade data highlighted concerns over energy demand in the world's second-largest oil consumer.
Downbeat comments by the Organization of the Petroleum Exporting Countries also weighed on the market. The group's monthly report said oil supply was plentiful and in excess of market requirements.
Brent crude oil futures for June lost 10 cents to $113.10 a barrel by 07.06 a.m. EDT after settling at $113.20 on Wednesday, up 47 cents. U.S. crude fell 40 cents to $96.41 per barrel.
Brent has fallen sharply from highs of around $126 per barrel in April due to worries about political turmoil in Europe and a growing conviction that the market is well supplied.
Analysts remained downbeat about prospects for ...
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Brent rises on Greece bailout payment, technicals
Brent crude futures climbed back into positive territory in late trading on Wednesday, snapping five days of losses after approval of a bailout payment to Greece eased worries about euro zone debt.
Oversold conditions in recent days after an extended drop in prices sent crude futures down as much as 8.6 percent since May 2 also attracted bargain hunters, analysts said.
Trading was choppy all day with oil finding balancing news of a North Sea oilfield shutdown, a U.S. refinery snag and a drop in U.S. refined product inventories against concerns about a potential Greek debt deal.
The stock market pared losses and Brent crude turned positive after euro zone governments agreed to authorize a payment of 5.2 billion euros from the region's bailout fund, despite opposition from some member ...
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Saudi's Naimi says kingdom pumping 10 million bpd
Top oil exporter Saudi Arabia is pumping around 10 million barrels per day (bpd) and is storing 80 million barrels to meet any sudden disruption in supplies, Oil Minister Ali al-Naimi said on Tuesday.
Worries of a supply disruption from the Middle East due to escalating tensions between the West and Iran over Tehran's disputed nuclear program have pushed Brent prices 20 percent higher since the start of the year to a record of over $128 in March.
Prices have since eased but the more expensive crude has threatened to derail the fragile global economic recovery and strained the budgets of emerging economies. This has prompted influential Saudi Arabia, a key ally of the United States, to repeatedly stress that oil markets are well supplied.
Despite the recent declines, Naimi told reporters ...
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