Natural gas gains as markets price in mild temperatures

Investing.com - Investing.com - Natural gas futures rose on Friday after investors priced in losses stemming from mild U.S. temperatures and snapped up nicely-priced positions in the commodity.

Longer-range forecasts suggesting a return of colder weather supported the commodity as well.

On the New York Mercantile Exchange, natural gas futures for delivery in January were up 3.32% at $3.770 per million British thermal units during U.S. trading. The commodity hit a session low of $3.650, and a high of $3.822.

The January contract settled down 4.10% on Thursday to end at $3.649 per million British thermal units.

Natural gas futures were likely to find support at $3.638 per million British thermal units, Thursday's low, and resistance at $4.529, the high from Nov. 26.

Mild U.S. temperatures hovering over the U.S. have sent natural gas prices plunging in recent sessions by fueling concerns that households and businesses across the country have been scaling back on their heating.

By Friday, investors had felt the commodity had fallen far enough, with bottom fishers sending prices up into positive territory, especially after long-range computer models couldn't rule out a return of colder weather later in December.

"We still expect a few fairly cold weather systems next week that will track into the Midwest and Northeast with sub-freezing temperatures December 8-10th, and this has only been reinforced by the latest weather data and will result in a surge in heating demand," Natgasweather.com reported in its Friday midday update.

While shots of warmer air will also trek across the country on the Pacific jet stream, through the middle of December, colder temperatures may make their return.

"This mild and moist U.S. pattern should last through around December 20th, or right up to the start of winter. There will be stronger potential for colder air to arrive after December 21st if the Pacific jet fizzles or shifts offshore and will need close monitoring," Natgasweather.com added.

Investors continued to digest Thursday's weekly U.S. supply report, which revealed that natural gas storage in the week ending Nov. 28 fell by 22 billion cubic feet, less than expectations for a decline of 41 billion and well below a drop of 162 billion in the week before.

The five-year average change for the week is a decrease of 50 billion cubic feet. Stockpiles fell by 141 billion in the same week a year earlier.

Total U.S. natural gas storage stood at 3.410 trillion cubic feet. Stocks were 227 billion cubic feet less than last year at this time and 372 billion cubic feet below the five-year average of 3.782 trillion cubic feet for this time of year.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in January were down 1.26% at $65.97 a barrel, while heating oil for January delivery were down 0.22% at $2.1130 per gallon.

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Dollar jumps up on robust U.S. jobs report

Investing.com - Investing.com - The dollar firmed against most major currencies on Friday after official data revealed the U.S. economy added way more payrolls in November than investors were expecting.

In U.S. trading on Friday, EUR/USD was up 0.72% at 1.2289.

The Labor Department reported earlier that the U.S. economy added 321,000 jobs in November, well past expectations for a 225,000 reading. October's figure was revised up to 243,000 from a previously estimated 214,000, pointing to underlying strength in the labor market.

The U.S. unemployment rate remained unchanged at 5.8% last month, in line with expectations, and the numbers fueled expectations that the Federal Reserve will raise interest rates in 2015, possibly earlier than once anticipated.

A separate report showed that the U.S. trade deficit hit $43.40 billion in October, down from $43.60 billion in September, whose figure was revised from a previously estimated deficit of $43.00 billion. Analysts had expected the trade deficit to narrow to $41.20 billion in October.

Data also showed that U.S. factory orders fell 0.7% in October compared to expectations for a 0.2% slip. Factory orders in September were revised to a 0.5% decline from a previously estimated 0.6% fall.

In the euro zone, official data earlier showed that German factory orders rose 2.5% in October, exceeding expectations for a 0.6% gain. Factory orders in September were revised to an increase of 1.1% from a previously estimated 0.8% rise.

The single currency had strengthened broadly on Thursday after European Central Bank President Mario Draghi indicated that the bank would not embark on quantitative easing for now, saying the bank would reassess its stimulus program in the first quarter of 2015.

The dollar was up against the yen, with USD/JPY up 1.37% at 121.43, and down against the Swiss franc, with USD/CHF up 0.71% at 0.9783.

The yen remained under pressure after Japanese media outlets reported on Thursday that Prime Minister Shinzo Abe's coalition government could retain its majority in the lower house of parliament in elections due to be held on December 14.

The greenback was up against the pound, with GBP/USD down 0.62% at 1.5576.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.43% at 1.1434, AUD/USD down 0.67% at 0.8328 and NZD/USD down 0.89% at 0.7712.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.79% at 89.36.

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Dollar falls as euro shines on ECB decision to hold off on stimulus

Investing.com - Investing.com - The dollar dropped against most major currencies on Thursday after the European Central Bank decided to hold off on implementing fresh stimulus measures, which sparked demand for the euro and other higher-yielding currencies.

In U.S. trading on Thursday, EUR/USD was up 0.58% at 1.2382.

The European Central Bank left interest rates on hold at their current record lows of 0.05% earlier Thursday, in a widely anticipated decision.

The single currency rose after Draghi said the ECB would reassess the success of its existing stimulus programs and the impact of weak oil prices on the euro area economy in the early part of next year.

He said the bank could potentially change the size, scale and composition of its existing stimulus programs. The governing council remains unanimous that it will take further measures if necessary, he added.

The ECB's current stimulus program includes purchases of asset-backed securities and covered bonds, though markets have been keeping a close eye out for plans to announce purchases of government debt, and the bank's decision to remain in a wait-and-see mode gave the euro support, which came at the dollar's expense.

The ECB substantially revised down its forecasts for growth and inflation and warned that the latest forecasts do not take into account the recent steep drop in oil prices.

The bank now expects the euro zone economy to grow by just 0.8% this year, 1.0% in 2015 and 1.5% in 2016. It cut its inflation forecast for this year to just 0.5% from 0.6% and to 0.7% in 2015 from 1.1%.

Meanwhile in the U.S., the Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Nov. 29 decreased by 17,000 to 297,000 from the previous week's revised total of 314,000, in line with expectations, though the European Central Bank served as the dollar's chief steering current.

The dollar was down against the yen, with USD/JPY down 0.06% at 119.73, and down against the Swiss franc, with USD/CHF down 0.66% at 0.9711.

The greenback was up against the pound, with GBP/USD down 0.05% at 1.5678.

The Bank of England's monetary policy committee earlier left U.K. interest rates on hold at their current record low of 0.5% and maintained the size of its asset purchase program at £375 billion.

The minutes of the meeting are to be published on December 17.

The minutes of the BoE's November policy meeting showed that two policymakers voted in favor of 0.25% hike in the benchmark rate for the fourth consecutive meeting, and Thursday's decision to keep policy on hold softened the pound.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.08% at 1.1376, AUD/USD down 0.24% at 0.8383 and NZD/USD up 0.28% at 0.7784.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.39% at 88.65.

On Friday, the U.S. is to round up the week with the closely watched government report on nonfarm payrolls, the unemployment rate and average earnings, as well as a report on factory orders.

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Forex - Yen flat, Aussie weaker in Asia as U.S. jobs data in focus

Investing.com - Investing.com - The yen held flat and the Aussie dipped slightly on Friday in early Asia with the focus on key U.S. jobs data ahead.

JPY/USD traded at 119.82, up 0.03%, while AUD/USD changed hands at 0.8378, down 0.07%.

A relatively light data with Australia's November AI Grp/HIA Construction Index fell 8.0 points to 45.4, dropping from expansion territory in October. In Japan, at 1400 (0500 GMT) the October preliminary indices of leading coincident indicator is due and expected at 104.2.

Overnight, the dollar dropped against most major currencies on Thursday after the European Central Bank decided to hold off on implementing fresh stimulus measures, which sparked demand for the euro and other higher-yielding currencies.

The European Central Bank left interest rates on hold at their current record lows of 0.05% earlier Thursday, in a widely anticipated decision.

The single currency rose after Draghi said the ECB would reassess the success of its existing stimulus programs and the impact of weak oil prices on the euro area economy in the early part of next year.

He said the bank could potentially change the size, scale and composition of its existing stimulus programs. The governing council remains unanimous that it will take further measures if necessary, he added.

The ECB's current stimulus program includes purchases of asset-backed securities and covered bonds, though markets have been keeping a close eye out for plans to announce purchases of government debt, and the bank's decision to remain in a wait-and-see mode gave the euro support, which came at the dollar's expense.

The ECB substantially revised down its forecasts for growth and inflation and warned that the latest forecasts do not take into account the recent steep drop in oil prices.

The bank now expects the euro zone economy to grow by just 0.8% this year, 1.0% in 2015 and 1.5% in 2016. It cut its inflation forecast for this year to just 0.5% from 0.6% and to 0.7% in 2015 from 1.1%.

Meanwhile in the U.S., the Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Nov. 29 decreased by 17,000 to 297,000 from the previous week's revised total of 314,000, in line with expectations, though the European Central Bank served as the dollar's chief steering current.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.04% at 88.69.

On Friday, the U.S. is to round up the week with the closely watched government report on nonfarm payrolls, the unemployment rate and average earnings, as well as a report on factory orders.

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U.S. stocks gain on service sector data; Dow rises 0.18%

Investing.com - Investing.com - An upbeat U.S. service-sector report sent U.S. stocks rising on Wednesday by stoking hopes that a more upbeat economy will bolster top and bottom lines down the road.

At the close of U.S. trading, the Dow 30 rose 0.18%, the S&P 500 index rose 0.38%, while the Nasdaq Composite index rose 0.39%.

The S&P 500 VIX index, which measures the outlook for market volatility, was down 2.72% at 12.50.

The Institute of Supply Management reported earlier said that its non-manufacturing purchasing managers' index rose to 59.3 in November from 57.1 in October.

Analysts had expected the index to inch up to 57.5 in November, and the better-than-expected report kept expectations firm that the U.S. economy continues to recover.

The data came after payroll processor ADP reported that the U.S. private sector created 208,000 jobs in November, falling short of expectations for jobs growth of 223,000 and down from 233,000 in October.

Still, the number topped 200,000, which allayed fears that Friday's official November jobs report may indicate that the labor market may be softening.

Later in the session, the Federal Reserve released is Beige Book that pointed to an expanding economy.

Leading Dow Jones Industrial Average performers included General Electric Company (NYSE:GE), up 1.32%, United Technologies Corporation (NYSE:UTX), up 1.18%, and International Business Machines (NYSE:IBM), up 1.03%.

The Dow Jones Industrial Average's worst performers included American Express Company (NYSE:AXP), down 1.90%, Wal-Mart Stores Inc (NYSE:WMT), down 1.69%, and Coca-Cola Company (NYSE:KO), down 1.67%.

European indices, meanwhile, ended the day largely higher.

After the close of European trade, the Euro Stoxx 50 rose 0.29%, France's CAC 40 rose 0.08%, while Germany's DAX 30 rose 0.38%. Meanwhile, in the U.K. the FTSE 100 fell 0.38%.

On Thursday, the U.S. is to release the weekly report on initial jobless claims.

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Crude gains as U.S. stockpiles take unexpected dive

Investing.com - Investing.com - Crude futures rose on Wednesday after data revealed U.S. oil inventories fell last week, defying market calls for an increase, though global supply concerns and a stronger dollar kept gains at bay, sending the commodity dipping into negative territory at times.

A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.

In the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded up 0.40% at $67.15 a barrel during U.S. trading, up from a session low of $66.89 a barrel and off a high of $68.20 a barrel.

The January contract settled down 3.07% at $66.88 a barrel on Tuesday.

Support for the commodity was seen at $63.72 a barrel, Monday's low, and resistance at $73.56 a barrel, Friday's high.

The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories declined by 3.7 million barrels in the week ending Nov. 28, confounding expectations for an increase of 1.3 million barrels.

Total U.S. crude oil inventories stood at 379.3 million barrels as of last week.

The report also showed that total motor gasoline inventories increased by 2.1 million barrels, above expectations for a gain of 1.1 million, while distillate stockpiles rose by 3.0 million barrels.

Oil prices rose on the news, though ongoing concerns that the world is awash in crude while supply remains soft and output unaffected by conflicts in the Mideast and Eastern Europe capped gains.

The Organization of Petroleum Exporting Countries said last week that it would keep its official production target unchanged at 30 million barrels a day, disappointing hopes the oil cartel would lower output to support the market.

Markets have assumed that Saudi Arabia championed letting prices fall in hopes less cost-effective U.S. shale producers would halt operations.

A stronger dollar put a ceiling on the commodity's uptick as well.

The Institute of Supply Management reported earlier said that its non-manufacturing purchasing managers' index rose to 59.3 in November from 57.1 in October.

Analysts had expected the index to inch up to 57.5 in November, and the better-than-expected report kept expectations firm that the Federal Reserve will move to hike interest rates next year, which gave the greenback a boost.

The data came after payroll processor ADP reported that the U.S. private sector created 208,000 jobs in November, falling short of expectations for jobs growth of 223,000 and down from 233,000 in October.

Still, the number topped 200,000, which allayed fears that Friday's official November jobs report may indicate that the labor market may be softening.

Separately, on the ICE Futures Exchange in London, Brent oil futures for January delivery were down 1.18% at US$69.71 a barrel, while the spread between Brent and U.S. crude contracts stood at $2.56.

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Crude drops as dollar regains ground, supply concerns weigh

Investing.com - Investing.com - Crude futures dropped on Tuesday after an upbeat construction gauge boosted the U.S. dollar, while ongoing concerns that supply will remain ample while demand soft pushed prices lower as well.

A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.

In the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded down 2.35% at $67.38 a barrel during U.S. trading, up from a session low of $66.74 a barrel and off a high of $69.40 a barrel.

The January contract settled up 4.31% at $69.00 a barrel on Monday.

Support for the commodity was seen at $63.72 a barrel, Monday's low, and resistance at $73.56 a barrel, Friday's high.

The Census Bureau reported earlier that U.S. construction spending rose 1.1% in October from a month earlier, beating market estimates for a 0.6% gain after a 0.1% contraction in September.

It was the largest gain since May, and the report boosted the dollar by cementing expectations for the Federal Reserve to hike benchmark borrowing costs in 2015, which sent oil prices dropping in a selloff exacerbated by supply concerns.

The Organization of Petroleum Exporting Countries said last week that it would keep its official production target unchanged at 30 million barrels a day, disappointing hopes the oil cartel would lower output to support the market.

The 12-member group is responsible for approximately 40% of global supply.

Concerns over weakening global demand combined with indications that OPEC producers will not cut output have weighed on prices in recent months as have the realizations that conflicts in the Mideast and in Eastern Europe have not disrupted supply as once feared.

Markets have assumed that Saudi Arabia championed letting prices fall in hopes less cost-effective U.S. shale producers would halt operations.

Still, concerns that less shale out flowing out of the U.S. will take a while to chip away at a global supply glut dampened prices on Tuesday.

Separately, on the ICE Futures Exchange in London, Brent oil futures for January delivery were down 2.17% at US$70.97 a barrel, while the spread between Brent and U.S. crude contracts stood at $3.59.

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Forex - Aussie, yen steady ahead of Australia Q3 GDP, China services

Investing.com - Investing.com - The yen and Aussie were steady in early Asia on Wednesday with GDP data due out of Sydney and China services from Beijing expected to set the tone.

AUD/USD traded at 0.8448, down 0.03%, while USD/JPY changed hands at 119.24, down 0.01%. EUR/USD traded flat at 1.2383.

China's less-closely watched services PMI for November from the CFLP is due at 0900 local/0100 GMT. In October, it dipped to 53.8 from 54.0 in October, while HSBC's (0945/0145 GMT) slipped to 52.9 from 53.5. Both indexes have been largely range bound for months.

Elsewhere, Australia's November AIGroup services index rose 0.2 point to 43.8, rebounding slightly from October when the index fell for the eighth month in a row to the lowest reading since August 2013.

At 1130 (0030 GMT) is the release of Australia's third quarter GDP data, with a gain of 0.7% expected quarter-on-quarter.

Overnight, the dollar firmed against most major currencies on Tuesday after a U.S. construction barometer beat expectations and fueled hopes for sustained recovery, while uncertainty ahead of the European Central Bank's Thursday announcement on monetary policy fueled safe haven demand for the greenback as well.

The Census Bureau reported earlier that U.S. construction spending rose 1.1% in October from a month earlier, beating market estimates for a 0.6% gain after a 0.1% contraction in September.

It was the largest gain since May, and the report boosted the dollar by cementing expectations for the Federal Reserve to hike benchmark borrowing costs in 2015.

Investors were keeping an eye towards Friday, when the Bureau of Labor Statistics will release its November jobs report.

Meanwhile across the Atlantic, the European Central Bank will announce its latest decision on monetary policy this Thursday, and investors avoided the euro ahead of time on uncertainty as to whether monetary authorities will announce fresh stimulus measures.

Data released last Friday revealed that the annual rate of euro area inflation slowed to a five-year low of 0.3% last month from 0.4% in October.

Sentiment on the single currency also remained vulnerable after data on Monday showed that the euro zone's manufacturing purchasing managers' index slowed to 50.1 from a preliminary reading of 50.4 last month, just barely above the 50 level separating growth from contraction.

The ECB's current stimulus program includes purchases of asset-backed securities and covered bonds, though markets are keeping a close eye out for plans to announce purchases of government debt, a stimulus tool known as quantitative easing that weakens paper currencies by suppressing interest rates.

Elsewhere on Tuesday, Spain reported that the number of unemployed people declined by 14,700 in November, compared to expectations for an increase of 57,300, after a 79,200 rise in October.

In the U.K., construction activity expanded at the slowest rate in more than a year in November, dampening optimism over the country's economic outlook, according to industry data.

Market research firm Markit Economics and the Chartered Institute of Purchasing & Supply reported that their U.K. construction purchasing managers' index declined to a seasonally adjusted 59.4 in November from 61.4 in October. Economists had expected the index to fall to 61.2 in November.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% at 88.70.

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Dollar softens on mixed U.S. factory reports

Investing.com - Investing.com - A mixed bag of U.S. factory barometers weakened the dollar against most major currencies on Monday by prompting investors to rethink when the Federal Reserve will hike interest rates next year.

The U.S. currency has seen hefty demand in recent sessions as markets prepare for U.S. monetary to tighten while Europe and Japan move in the opposite direction.

In U.S. trading on Monday, EUR/USD was up 0.19% at 1.2476.

U.K.-based Markit Economics reported earlier that U.S. manufacturing activity in November expanded at its slowest pace since January, as new export orders fell.

The Markit U.S. manufacturing purchasing managers' index ticked down to 54.8 in November from 55.9 in October. Economists had forecast a decline to 55.0.

Meanwhile in the U.S., the Institute of Supply Management reported earlier that its manufacturing PMI dipped to 58.7 from 59.0 in October, though still better than expectations of 57.9, though the dollar cooled its rally after posting strong gains on expectations for diverging global monetary policies.

The Federal Reserve has been taking steps to make U.S. monetary policy less accommodative while Europe and Japan have moved in the opposite direction.

Meanwhile in Europe, Markit Economics reported that factory activity in the euro zone slowed to a near standstill last month.

The euro zone's manufacturing PMI slowed to 50.1 from a preliminary reading of 50.4 last month, just barely above the 50 level separating growth from contraction.

Germany's manufacturing PMI entered contraction territory for the first time in 17 months, falling to 49.5, as new orders fell at the fastest rate in nearly two years.

The French manufacturing PMI remained in contraction territory at 48.4, while Italy's factory PMI came in at 49.0.

The reports came after data on Friday showed that the annual rate of euro area inflation slowed to a five-year low of 0.3% in November, down from 0.4% in October.

The dollar was down against the yen, with USD/JPY down 0.26% at 118.30, and down against the Swiss franc, with USD/CHF down 0.10% at 0.9642.

The yen rose on demand from bottom fishers after falling on news that Moody's downgraded Japan's sovereign debt rating by one notch to A1, citing 'heightened uncertainty' over Japan's ability to cut its fiscal deficit following a decision by Prime Minister Shinzo Abe to delay a planned sales tax hike.

"Fiscal consolidation will become increasingly difficult to achieve as time passes given rising government spending, particularly for social programs associated with a rapidly ageing population," the rating agency said.

The greenback was down against the pound, with GBP/USD up 0.64% at 1.5740.

The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.83% at 1.1321, AUD/USD up 0.05% at 0.8507 and NZD/USD up 0.55% at 0.7885.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.46% at 88.000.

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U.S. stocks dip on data, holiday concerns; Dow falls 0.29%

Investing.com - Investing.com - U.S. stocks fell on Thursday after data revealed U.S. manufacturing activity grew less than expected in November, while concerns that holiday sales may come in flatter than once hoped pushed share prices down as well.

At the close of U.S. trading, the Dow 30 fell 0.29%, the S&P 500 index fell 0.68%, while the Nasdaq Composite index fell 1.34%.

The S&P 500 VIX index, which measures the outlook for market volatility, was up 7.20% at 14.29.

U.K.-based Markit Economics reported earlier that U.S. manufacturing activity in November expanded at its slowest pace since January, as new export orders fell.

The Markit U.S. manufacturing purchasing managers' index ticked down to 54.8 in November from 55.9 in October. Economists had forecast a decline to 55.0.

Meanwhile in the U.S., the Institute of Supply Management reported earlier that its manufacturing PMI dipped to 58.7 from 59.0 in October, though still better than expectations of 57.9, stocks fell anyway as investors sold and jumped to the sidelines to await fresh signs U.S. recovery continues to gain steam.

Elsewhere, concerns that Black Friday sales came in soft ruffled feathers on Wall Street as well.

Black Friday, which follows the U.S. Thanksgiving holiday, typically sees heavy shopping demand at retail outlets, though uncertainty whether disappointments here and there may reflect more online shopping taking place elsewhere kept investors at bay on Monday.

Leading Dow Jones Industrial Average performers included Chevron Corporation (NYSE:CVX), up 2.63%, Exxon Mobil Corporation (NYSE:XOM), up 2.30%, and Microsoft Corporation (NASDAQ:MSFT), up 1.78%.

The Dow Jones Industrial Average's worst performers included General Electric Company (NYSE:GE), down 1.74%, Nike Inc (NYSE:NKE), down 1.61%, and Caterpillar Inc (NYSE:CAT), down 1.59%.

European indices, meanwhile, ended the day lower.

After the close of European trade, the Euro Stoxx 50 fell 0.55%, France's CAC 40 fell 0.29%, while Germany's DAX 30 fell 0.17%. Meanwhile, in the U.K. the FTSE 100 fell 0.99%.

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Clincial City crush Southampton, Spurs beat Everton

By Michael Hann

LONDON (Reuters) - Champions Manchester City galvanised their pursuit of Premier League leaders Chelsea on Sunday with an emphatic 3-0 victory over a Southampton side who have surprisingly come between the leading title protagonists.

With table-topping Chelsea held to a 0-0 draw against Sunderland on Saturday, victory for City at fortress St Mary's took them above Southampton into second place with 27 points from 13 matches, six behind Jose Mourinho's pace setters.

Tottenham Hotspur came from a goal down to beat Everton 2-1 with goals from Christian Eriksen and Roberto Soldado moving Spurs up to seventh with 20 points.

After a less than convincing start to the attempted defence of their title, City's display against Southampton saw them back to their free-flowing best as goals from Yaya Toure, Frank Lampard and Gael Clichy condemned Ronald Koeman's high-flying side to a first home defeat of the season.

"We beat a very good team," City manager Manuel Pellegrini, speaking to Sky Sports, said. "They were second in the table and deserved that position.

"It was important to have a clean sheet again, they had just one chance in the 90 minutes and that is important for the trust in our team.

"It was close in the first 45 minutes and we continued working as a team in defence and attack until we scored."

SCREAMING CITY

City screamed for a penalty for a foul on Aguero in a goalless first half when Jose Fonte's hefty challenge wiped the Argentine out in the box. Incredibly Aguero, making his 100th Premier League appearance, was booked for diving.

But Ivorian midfielder Toure, so often City's go-to man on their way to the title last season, put his side in front after 51 minutes when his low shot from the edge of the area flicked off Saints defender Toby Alderweireld and past Fraser Forster.

When French defender Eliaquim Mangala received a second yellow for a foul on Shane Long it seemed Southampton had a lifeline but that was snatched away when Lampard ghosted through into space and buried his shot low into the corner after being picked out by James Milner. Clichy hammered the final nail into Southampton's coffin when he turned the ball home in the 88th minute.

"I'm disappointed because in the second half the beginning was a bit better than the start of the game," Koeman told Sky Sports after his side dropped to third.

"You know that if you do some mistakes you are punished for that. It was not good enough today and we have to realise that. The difference was the quality."

SPURS FIGHTBACK

Everton's Kevin Mirallas produced a stunning strike from 20 metres to open the scoring at White Hart Lane in Sunday's clash between the two Europa League representatives.

Tottenham equalised six minutes later when Everton goalkeeper Tim Howard palmed Harry Kane's shot into the path of Eriksen, who kept his composure to score.

In first half stoppage time, Soldado scored his first league goal since March when he raced on to Aaron Lennon's astute pass and powered a shot past Howard.

Everton applied pressure late on but Spurs stayed strong to avoid their third consecutive league defeat at home.

(Reporting By Michael Hann; editing by Martyn Herman)

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Mother of MH17 plane crash victim sues Ukraine in European court - paper

UKRAINE-CRISIS-CRASH-GERMANY:Mother of MH17 plane crash victim sues Ukraine in European court - paper

BERLIN (Reuters) - The mother of a German woman killed when Malaysia Airlines flight MH17 was downed over eastern Ukraine in July is suing the Ukrainian authorities at the European Court of Human Rights for failing to close their airspace, a German paper reported.

The mother of the victim named as "Olga L." was seeking $1 million in compensation from Kiev for manslaughter by negligence and had begun proceedings in the past week, Bild am Sonntag newspaper said on Sunday.

According to the indictment, Ukraine should have closed its airspace to civil air traffic because of fighting with pro-Russian separatists.

It accuses Ukraine of failing to do so because it wanted to continue to profit from the fees paid by transit flights - which at the time numbered 700 per day and would have earned it several million dollars a month, the newspaper reported.

The victim's mother is represented by aviation lawyer Elmar Giemulla who has argued that under international law Ukraine should have closed its air space if it could not guarantee the safety of flights.[ID:nL6N0RM03H]

Giemulla said in September he was representing three families of German victims of the crash.

The airliner crashed in Ukraine in pro-Russian rebel-held territory on July 17, killing 298 people, two-thirds of them from the Netherlands. Four Germans died in the crash.

Ukraine has accused the rebels of shooting the plane down with an advanced Russian-made missile. Russia has rejected accusations that it supplied the rebels with SA-11 Buk anti-aircraft missile systems.

European governments have so far refrained from openly attributing blame.

(Reporting by Alexandra Hudson; Editing by Rosalind Russell)

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