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  • *Spot gold could test resistance at $1,264 per ounce- technicals. May 26- Gold prices held steady after dipping slightly earlier in the session on Friday as Asian stocks eased following an extension of output curbs by OPEC and other producing nations that left investors hoping for bigger cuts disappointed. Spot gold was up 0.1 percent at $1,257.01 per ounce U.S....

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting Countries and...

  • BEIJING, May 26- China's structural reforms will not be enough to arrest its rising debt, and another credit rating downgrade for the country is possible unless it gets its ballooning credit in check, two officials at Moody's ratings agency said on Friday. The comments came days after Moody's Investors Service downgraded China's sovereign ratings on...

  • *China's soy crush margins drop to weakest since Sept 2014. SINGAPORE, May 26- Chicago soybean futures dropped to a more than six-week low on Friday and were poised for a third weekly fall as a deep fall in crude oil prices and plentiful world supplies put pressure on the oilseed. The Chicago Board Of Trade most-active soybean contract has declined 1.8 percent so...

  • Louis Federal Reserve President James Bullard said on Friday that he sees minimal impact on long-term bond yields from reductions in the Fed's balance sheet, which he hopes will start in the second half of this year. Bullard also said it was good to cap the amount of mortgage-backed securities allowed to run off the Fed's balance sheet, but he was indifferent to...

  • *Asia stocks slip despite Wall Street scaling new highs. SINGAPORE, May 26- Crude prices were on the defensive on Friday after an agreement by OPEC to extend existing supply curbs disappointed investors wagering on larger cuts, prompting a move away from riskier assets and depressing Asian stocks. The Organization of Petroleum Exporting Countries and some non-...

  • *Tokyo May core CPI up 0.1 pct vs f'cast flat growth. TOKYO, May 26- Japan's core consumer prices rose 0.3 percent in April from a year earlier to mark a fourth straight month of increases, offering policymakers some hope a steady economic recovery will convince consumers to start spending again. They thus try to trim costs by keeping wages low, "said Takeshi Minami,...

  • May 25- A federal judge ordered United Parcel Service Inc to pay nearly $247 million in damages and penalties for "illegally shipping" large volumes of untaxed cigarettes in New York state and City, a court filing showed on Thursday. In total, New York state is awarded $165.8 million and plaintiff New York City is awarded $81.2 million. The federal judge in March...

  • Louis Federal Reserve President James Bullard said on Friday that the Bank of Japan must communicate carefully with markets if it decides to taper its purchases of Japanese government bonds. "It's very important to get the communication right," Bullard said at lecture hosted by Keio University. "Otherwise there will be outsize reaction and cause a lot of global...

  • TOKYO— Japan's core consumer price index climbed to a two-year high in April of 0.3 percent, as costs for energy rose. Economists said the increase reported Friday was not likely to persist and that prices for imported consumer goods actually fell. The government said the cost of gasoline surged 15 percent and the cost of kerosene jumped 28 percent, as U.S....

  • *Stronger yen offsets effect of record closes on Wall Street. TOKYO, May 26- Japan's Nikkei share average remained solidly on track for a winning week on Friday, underpinned by record closing highs on Wall Street even as a firmer yen put a damper on sentiment. "The Nikkei is getting a drag today from a stronger yen, which has offset the impact of yesterday's Wall Street...

  • NEW YORK— A federal judge on Thursday ordered delivery giant UPS Inc. to pay New York City and the state nearly $247 million in damages and penalties for illegally shipping cigarettes. New York state and New York City sued Atlanta- based UPS in 2015. The lawsuit accused it of having a corporate culture that favored sales opportunities over a responsibility to...

  • Prices on Thursday tipped the highest since May 3 at $5,768.50 and have held in a wider $5,480- $5,800 range since mid-April. *SHFE COPPER: Shanghai Futures Exchange edged up by 0.1 percent to 45,970 yuan a tonne. *HOLIDAYS: The London Metal Exchange and Shanghai Futures Exchange will be closed on Monday for a long holiday weekend.

  • BEIJING, May 26- China's structural reforms will not be enough to arrest its rising debt, Marie Diron, associate managing director of Moody's Sovereign Risk Group, said on Friday. Moody's Investors Service downgraded China's credit ratings on Wednesday by one notch to A1, saying it expects the financial strength of the world's second-largest economy will...

  • TAIPEI, May 26- Taiwan stocks stayed flat on Friday in cautious trading ahead of a long weekend holiday, dampened by falls in tech heavyweights such as Taiwan Semiconductor Manufacturing Co. Taiwan's markets will be closed on Monday and Tuesday for the Dragon Boat festival holidays. The Taiwan dollar softened T $0.003 to T $30.087 per U.S. dollar.

  • SHANGHAI, May 26- China's yuan extended gains against the U.S. dollar on Friday, hitting its strongest level in more than three months. The People's Bank of China set the midpoint rate at 6.8698 per dollar prior to the market open, weaker than the previous fix of 6.8695. On Thursday, the yuan leapt to a near two-month high against the dollar, supported by major...

  • SYDNEY, May 26- U.S. soybeans edged lower to hit a six-week low on Friday as weak oil prices were set to pressure the oilseed, which is used to make ethanol, towards a third straight weekly decline. *Commodity currencies got off to a shaky start on Friday, having tracked oil prices lower, after a meeting of OPEC countries disappointed some investors who had hoped for...

  • *Tokyo May core CPI up 0.1 pct vs f'cast flat growth. TOKYO, May 26- Japan's core consumer prices rose 0.3 percent in April from a year earlier to mark a fourth straight month of increases, offering policymakers some hope a steady economic recovery will help shift consumers' sticky deflationary mindsets. They thus try to trim costs by keeping wages low, "said Takeshi...

  • May 25- United Parcel Service Inc on Thursday announced plans to form a joint venture agreement with Chinese express delivery firm SF Holdings, laying the groundwork to expand shipping services from China to the United States. SF Holdings, parent company of SF Express, is often called China's answer to UPS rival FedEx, and is the dominant package delivery...

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil markets remained weak on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting...