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Crude-oil futures pushed lower in volatile action during European trading hours on Monday, as another investment bank slashed its price forecasts and investors braced for another week of potential market upheaval.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +2.66% traded at $48.17 a barrel in recent trade, down 63 cents, or 1.3%, in the Globex electronic session. March Brent crude LCOH5, -0.12% on London’s ICE Futures exchange fell 52 cents, or 1%, to $49.63 a barrel.
High-grade copper for March delivery HGH5, +1.41% fell 4 cents, or 1.5%, to $2.58 a pound.
March palladium PAH5, -0.42% rose $12.25, or 1.6%, to $766.55 an ounce, while April platinum PLJ5, +0.00% fell $5.60, or 0.4%, to $1,263.8 an ounce.
Gold prices slipped Monday, easing from a gain last week that marked the precious metal’s best weekly performance in more than a year.
Gold for February delivery GCG5, +0.93% shed $2, or 0.2%, to $1,274.90 an ounce in electronic trading. Floor trading at the CME was closed Monday for the Martin Luther King, Jr. holiday.
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Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, +1.59% ) up 1.6%
Hong Kong (Hang Seng Index HSI, +0.72% ) up 0.7%
Shanghai (Shanghai Composite Index SHCOMP, +1.81% ) up 1.8% (at break)
Sydney (S&P/ASX 200 XJO, -0.12% ) flat
Seoul (Kospi SEU, +0.72% ) up 0.7%
Mumbai (Sensex 1, +0.46% ) up 0.2%
Taipei (Taiex Y9999, +0.75% ) up 0.7%
Asia markets were mostly on the front foot on Tuesday as speculation swirled that the European Central Bank will embark on a huge stimulus programme, while China prepared to unveil economic growth data for 2014.
The euro retreated after a minor rally on Monday as traders also nervously awaited an election in Greece that some fear could lead to the country exiting the eurozone.
Tokyo shares jumped 1.02 per cent, Hong Kong added 0.25 per cent and Seoul put on 0.49 per cent but Sydney dipped 0.22 per cent. Shanghai rallied 1.10 per cent a day after slumping 7.7 per cent in Monday in response to an official crackdown on margin trading, while Hong Kong gained 0.25 per cent.
