Kelvin Blacklock, CIO at Eastspring Investments says the markets that have moved up recently are those that have seen strong earnings growth. He says these defensive markets are looking expensive while the cyclicals appear cheap.» Read More
*Gold still trading near 2- year lows. SINGAPORE, May 22- Gold rose on Wednesday on strong Chinese demand and after Federal Reserve officials allayed investor concerns that the U.S. central bank will soon exit its bullion-friendly bond purchases.
SINGAPORE, May 22- Asian stocks rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a fresh 5-1/ 2 year high and clinging to its gains as the Bank of Japan stood pat after unleashing massive stimulus last month.
*Gold still trading near 2- year lows. SINGAPORE, May 22- Gold edged higher on Wednesday due to strong Chinese demand and after Federal Reserve officials allayed investor concerns that the U.S. central bank will soon exit its bullion-friendly bond purchases.
*Coming Up; Fed's Bernanke testifies to Congress; 1400 GMT. SINGAPORE, May 22- London copper held near a two week-high on Wednesday, supported by indications the U.S. For that we need to see a resumption in demand, "analyst Dominic Schnider at UBS in Singapore said.
SINGAPORE May 22- Singapore state investor Temasek Holdings Pte Ltd has paid $500 million for a stake of around 10 percent stake in financial data provider Markit Group, a person familiar with the transaction said.
SINGAPORE, May 22- London copper on Wednesday held below two week-highs hit the session before after Federal Reserve officials suggested the central bank would continue its bond-buying scheme. *Copper pushed to its highest since May 8 at $7,450 a tonne on Tuesday.
SINGAPORE, May 22- Gold edged higher on Wednesday, buoyed by a weaker dollar after Federal Reserve officials dampened expectations that the U.S. central bank may soon exit its bullion-friendly bond purchases.
*Gold's appeal hurt by fears the Fed will ease stimulus. (Recasts, updates prices, adds comments, adds byline, changes dateline NEW YORK/ LONDON, May 21- Gold trimmed its losses on Tuesday as the euro regained strength against the dollar, but the metal remained lower on weak chart signs and fears the U.S.
ANCHORAGE, Alaska-- The grounding of a Royal Dutch Shell PLC drill barge off a remote Alaska island began with a bracket connected to a tow line being ripped off the vessel in heavy Gulf of Alaska weather, a Shell official testified Monday.
*U.S. Senate subcommittee says Apple paid no tax on $29.9 bln dividends. CORK/ DUBLIN, May 21- Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries.
LONDON, May 21- Gold, down in seven of its last eight sessions extended earlier losses on Tuesday on a firm dollar, weak technical signals and speculation that the U.S. Gold has been hit by a shift in investment into higher-yielding equities since the start of the year on signs of an improving global economic outlook, particularly in the United States.
LONDON, May 21- Gold, down in seven of its last eight sessions, was off by around one percent on Tuesday morning on a firm dollar, weak technical signals and speculation that the U.S. Gold has been hit by a shift in investment into higher-yielding equities since the start of the year on signs of an improving global economic outlook, particularly in the United States.
*U.S. Senate subcommittee says Apple paid no tax on $29.9 bln dividends. DUBLIN, May 21- Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments after the U.S. Senate said the company paid little or nothing on tens of billions of dollars in profits stashed in Irish subsidiaries.
NEW DELHI/ SEOUL, May 21- India has slashed Iranian oil imports by almost a fifth since December, the sharpest cut among Asian buyers, in a move that should increase its chances of winning a new U.S. waiver next month on sanctions targeting oil trade with Iran.
*Gold briefly reclaims $1,400 on Chinese buying interest. SINGAPORE, May 21- Gold climbed off session lows on Tuesday as Chinese buyers picked up the metal, easing some pressure on bullion which has been hit by persistent outflows from exchange-traded funds and has lost nearly a fifth of its value this year.
*Fresh conflict in Syria supports prices. CHENNAI, India, May 21- Brent crude futures steadied near a two-week high on Tuesday, holding around $105 per barrel as rising Middle East tensions offset concerns about moderating demand growth to keep prices in a tight range.
*MSCI Asia Pacific ex- Japan slips 0.2 percent. The dollar inched higher versus a basket of currencies on Tuesday but stayed below a three-year high, as investors ponder if Bernanke might reveal the timing of any wind-down at his appearance before the Joint Economic Committee before Congress takes its Memorial Day recess.
SINGAPORE, May 21- London copper recouped early losses on Tuesday, underpinned by confidence in the U.S. economy, although gains were kept in check ahead of a slew of factory data this week that may point to softer global growth.
*Fresh conflict in Syria supports prices. Reports of fresh skirmishes in Syria suggest the civil conflict is at this year's peak, triggering fears it may spread to neighbouring key oil producers, while a weakening dollar added to the support.
SINGAPORE, May 21- London copper edged lower on Tuesday as traders focused on slowing demand growth in top consumer China against a background of a flagging global economy and ahead of key factory figures this week. *The most-traded September copper contract on the Shanghai Futures Exchange climbed 0.87 percent to 53,100 yuan a tonne.