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  • NEW YORK, Aug 28- The short-covering frenzy in global oil markets extended for a second straight day on Friday, pushing U.S. crude up as much as 5 percent in morning trade, getting extra support from a rally in gasoline futures, before both began consolidating. "A severely oversold and shorted oil market is creating a bid for covering in U.S. crude," said Chris Jarvis,...

  • BICESTER, England— The designer outlet mall of Bicester Village is set in the English countryside near Oxford, but it might as well be in China. In the Burberry store, many try on the brand's signature trench coats, which go for at least 600 pounds after discounts. He came from Shanghai to Europe with a group of about 30 colleagues to shop and do some sight-seeing.

  • *Dollar index on track for largest weekly gain in a month. NEW YORK, Aug 28- The dollar gained for a fourth straight session on Friday, buoyed by calmer financial markets and generally positive U.S. data that supported the notion that the world's largest economy was on a stable growth path. "Overall, markets are finally starting to calm down and the economic data is...

  • LONDON, Aug 28-- Copper prices extended a rally on Friday after the stock market in China recovered for a second day, but gains were capped due to continued worries about oversupply. "We are confident that not all short sales of metals in China have been already covered," said Commerzbank in a note. Copper shot up 4.2 percent on Thursday, lifted by a bounce in global stock...

  • *Europe bourses in 2015: http://link.reuters.com/pap87v. LONDON, Aug 28- European shares eased back on Friday, having already recouped nearly all their losses from a bruising eight percent drop earlier this week, with markets cooling off despite hopes of more help from central banks. Fears of a slowdown in global economic growth, which intensified after China...

  • LONDON, Aug 28- A London- based day-trader accused by the United States of market manipulation that contributed to the Wall Street "flash crash" in 2010, failed to persuade a court on Friday to postpone his extradition hearing. Navinder Sarao, who lives with his parents in a small house near London's Heathrow Airport, was arrested by British police on a U.S....

  • LONDON, Aug 28-- Copper prices dipped on Friday after a sharp rebound the day before as worries about oversupply resurfaced, but losses were modest after the stock market in top metals consumer China recovered for a second day. Copper shot up 4.2 percent on the London Metal Exchange on Thursday, lifted by a bounce in global stock markets, buoyant U.S. economic data...

  • *Bull market "ageing" but very much alive- Citi. China's central bank injected 60 billion yuan into money markets on Friday, the second such move this week, while inflation data out of Germany later on Friday is likely to set the tone for the European Central Bank's meeting next Thursday as deflationary pressures rise around the world. Although global equities are...

  • U.S. stocks ended the day little changed Friday, letting investors breathe a little easier after a week where both the highs and lows were extreme. The market gave investors a hard jolt the first two days of trading this week on concerns about the health of China's economy. "People are taking a little bit of a pause," said Paul Springmeyer, senior portfolio manager at...

  • Trend-driven funds profit on oil's slippery path Friday, 28 Aug 2015 | 12:00 AM ET

    Aug 28- The oil market's 10 percent surge on Thursday offered a visceral reminder that many of its most active participants could not care less about global oil inventories, Saudi Arabia's stressed finances or the American shale revolution. For dozens of commodity trading advisors from Rotterdam to Chicago, so-called "systematic" funds that typically use...

  • NEW YORK, Aug 28- The nearly two-month-long slide in oil prices to 6-1/ 2 year-lows has been a boon to many so-called systematic funds, which trade based on technical signals or computer algorithms rather than fundamentals. While most market commentary has focused on the persistent glut in the global market caused by unrelenting OPEC output and surprisingly...

  • SYDNEY, Aug 28- Copper edged down in Asian trading on Friday following strong gains overnight, but traders said the metal remained underpinned by a second day of resurgent Asian equities and higher oil prices. Wall Street rose sharply overnight thanks to revised U.S. gross domestic product data showing the economy grew faster than initially thought in the...

  • DIARY- Top Economic Events to Sept 10 Thursday, 27 Aug 2015 | 8:01 PM ET

    EDINBURGH, Scotland- Bank of England's Executive Director of Prudential Policy David Rule at the Credit Scoring and Credit Control XIV Conference, University of Edinburgh. REYKJAVIK- Launch of Economic Survey of Iceland 2015. NEW YORK- Federal Reserve Bank of Boston President Eric Rosengren speaks on the economic outlook before the Forecasters Club of New...

  • NEW YORK, Aug 27- Two former Rabobank traders urged a U.S. judge on Thursday to dismiss an indictment accusing them of engaging in a scheme to manipulate Libor, the benchmark interest rate at the center of a global investigation into misconduct at several banks. Lawyers for Anthony Allen and Anthony Conti told a Manhattan federal judge that prosecutors could not...

  • JOHANNESBURG, Aug 27- South Africa- focused platinum producer Lonmin Plc said on Thursday it expected full-year underlying cash costs to stay below its guidance, indicating that its deep cost-cutting measures were beginning to bear fruit. Lonmin said its unaudited cash costs were at 10,499 rand per PGM ounce at the end of July on a year-to-date basis and are...

  • NEW YORK, Aug 27- Oil rocketed more than 10 percent higher on Thursday, posting its biggest one-day rally in over six years as recovering equity markets and news of diminished crude supplies set off a short-covering scramble by bearish traders. The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell and private data indicating...

  • NEW YORK, Aug 27- The dollar rose for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy than had been thought and by gains in global equities, which benefited from improving risk sentiment. The reports, however, did little to change the view that the Federal Reserve would delay raising interest rates given recent market...

  • NEW YORK— Oil soared more than 10 percent Thursday, its biggest one-day gain since March 2009, lifted by resurgent global stock markets and a report showing the U.S. economy grew faster than previously reported in the second quarter. U.S. oil rose $3.96, or 10.3 percent, to $42.56 in New York. "One up day in a sea of consistent summer selling does not make for an imminent...

  • LONDON/ BANGALORE, Aug 27- Shell's Nigerian unit, Shell Petroleum Development Company, declared force majeure on Bonny Light crude oil exports on Thursday after shutting down two key pipelines in the country due to a leak and theft. The Trans Niger Pipeline and the Nembe Creek Trunkline are two of the biggest onshore pipelines in Nigeria, and carry Bonny Light...

  • NEW YORK, Aug 27- Oil rocketed more than 8 percent higher on Thursday, posting its biggest one-day rally in years, as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell and private data indicating more drawdowns...