TOKYO, Jan 17 (Reuters) – Key TOCOM rubber futures rose from a one-week low on Thursday, following share prices higher on better-than-expected U.S. earnings.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for June delivery had risen 2.2 yen, or 0.7 percent, to 306.3 yen per kg as of 0053 GMT. The benchmark contract earlier climbed as high as 308.3 yen.
* The contract fell 3 percent on Wednesday to a one-week low of 302.5 yen. It hit 321 yen last week, its highest since early April.
* Shares of Goldman Sachs marked their highest since May 2011 on Wednesday as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses. JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.
TOCOM Rubber Futures Prices on Jan 17, 2013 (yen / kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jan 2013 |
289.4 |
– |
– |
– |
– |
– |
– |
|
Feb 2013 |
291.5 |
292.8 |
294.4 |
292.8 |
292.9 |
+1.4 |
8 |
|
Mar 2013 |
293.7 |
293.6 |
296.9 |
293.4 |
295.1 |
+1.4 |
49 |
|
Apr 2013 |
297.7 |
297.5 |
302.2 |
297.5 |
299.2 |
+1.5 |
60 |
|
May 2013 |
300.8 |
300.9 |
305.3 |
300.0 |
302.6 |
+1.8 |
337 |
|
Jun 2013 |
304.1 |
304.5 |
308.3 |
303.3 |
306.1 |
+2.0 |
3,249 |
|
Total |
3,703 |
||||||
MARKETS NEWS
* Japan’s Nikkei share average rebounded at Thursday’s open after suffering its biggest drop in eight months on Wednesday, with oversold stocks in demand.
* The euro struggled to regain its momentum on Thursday even after a top European central banker sounded relaxed about its recent run higher, while the yen hovered at one-week highs, still underpinned by a wave of short-covering.
* U.S. crude futures eased towards $94 a barrel on Thursday, paring a 1 percent gain a day earlier as a possible restart of Motiva’s Port Arthur, Texas, refinery offset supportive factors such as an attack on an Algerian gas field and a fall in U.S. crude inventories.
DATA EVENTS
* The following data is expected on Thursday:
1330 U.S. Housing starts Dec
1330 U.S. Building permits Dec
1330 U.S. Weekly jobless claims
1500 U.S. Philadelphia Fed index Jan (Reporting by Aaron Sheldrick; Editing by Joseph Radford)
Reuters
