Natural gas dips as market prices in bullish stockpile report

Investing.com - Investing.com - Natural gas prices fell on Monday as investors locked in gains from last week's bullish U.S. inventory report sold the commodity for profits.

On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.729 per million British thermal units during U.S. trading, down 0.54%. The commodity hit session high of $4.799 and a low of $4.725.

The June contract settled up 4.51% on Thursday to end at $4.754 per million British thermal units. Markets were closed on Friday due to holiday

Natural gas futures were likely to find support at $4.487 per million British thermal units, Thursday's low, and resistance at $5.207, the high from Feb. 24.

The U.S. Energy Information Administration said in its weekly report last Thursday that natural gas storage in the U.S. in the week ending April 11 rose by 24 billion cubic feet after an increase of 4 billion cubic feet the previous week.

Analysts had expected an increase of 34 billion cubic feet last week, the lower-than-expected build sparked a rally in the market, with prices hitting 7-week highs until profit taking wiped out the buying spree.

Severely cold weather this past winter saw natural gas stockpiles fall to 11-year lows, sparking concerns that producers may not be able to refill inventories before the next heating season.

Producers typically replenish inventories between April and October, when demand is lower.

The heating season from November through March is the peak demand period for U.S. gas consumption. Approximately 52% of U.S. households use natural gas for heating, according to the Energy Department.

Spring and fall see the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in June were down 0.09% and trading at $103.28 a barrel, while heating oil for May delivery were up 0.14% at $3.0124 per gallon.

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Dollar gains on U.S., Japanese data in quiet session

Investing.com - Investing.com - A better-than-expected U.S. forward-looking indicator coupled with soft Japanese trade figures boosted the dollar on Monday in a quiet session, with many global markets closed for the Easter holiday.

In U.S. trading on Monday, EUR/USD was down 0.13% at 1.3792.

In the U.S. earlier, the Conference Board reported that its index of leading indicators, which measures future economic activity, increased 0.8% in March after a 0.5% rise in February, beating expectations for a 0.7% reading.

Elsewhere, the Chicago Fed National Activity Index decreased to 0.20 in March from 0.53 in February, in line with expectations.

The numbers reminded investors that even though the timing of rate hikes in the U.S. remains unclear, the Federal Reserve remains on track to continue tapering its monthly bond-purchasing program this year as the economy recovers.

Fed bond purchases, currently standing at $55 billion a month, weaken the dollar by suppressing interest rates, though talk of their dismantling often bolsters the greenback.

Elsewhere, Japan's March trade deficit widened to ¥1.446 trillion, outpacing a forecast for a ¥1.070 trillion figure.

Exports were up 1.8% on-year, missing a forecast of a 6.3% year-on-year gain and imports rose 18.1%, with expectations for a 16.2% increase.

The data for the full-year ended March showed the country reached a record trade deficit of ¥13.7 trillion.

Soft Japanese trade figures boosted the dollar as well in quiet trading.

The dollar was up against the yen, with USD/JPY up 0.17% at 102.60, and up against the Swiss franc, with USD/CHF up 0.18% at 0.8851.

The greenback was up against the pound, with GBP/USD down 0.04% at 1.6795.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.05% at 1.1017, AUD/USD down 0.11% at 0.9324 and NZD/USD down 0.23% at 0.8556.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.14% at 80.04.

On Tuesday, the U.S. is to release private sector data on existing home sales.

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Bangalore-bound Malaysian plane lands safely after landing gear scare

MALAYSIA-AIRLINES-LANDING-SAFE:Bangalore-bound Malaysian plane lands safely after landing gear scare

KUALA LUMPUR (Reuters) - A Malaysia Airlines passenger plane with 166 people on board landed safely at Kuala Lumpur early on Monday after being forced to abandon a flight to Bangalore because of problems with its landing gear, the airline said.

Defence Minister and Acting Transport Minister Hishammuddin Hussein said in a tweet: 'All landed safely - going there now!!"

(Reporting by Stuart Grudgings, editing by Mark Trevelyan)

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Ramsey return boosts Arsenal's top-four bid

REUTERS - Arsenal midfielder Aaron Ramsey said it was hard to watch the London club's Premier League title challenge fall away in his absence after revitalising their push for a top-four finish since returning from injury.

The Welshman underlined his importance to Arsenal's hopes of qualifying for the Champions League by inspiring them to a 3-0 win at Hull City on Sunday in a dress rehearsal for next month's FA Cup final.

Ramsey, who scored the first and was instrumental in Lukas Podolski's two goals as Arsenal ran out easy winners against Hull, made his return from injury two weeks ago having missed three months with a thigh injury.

His absence coincided with Arsenal's slump in form as they fell from being title contenders into a battle to qualify for next season's Champions League.

His return, however, has revitalised their efforts to hold off Everton in the race for a top-four finish.

Victory at Hull kept Arsenal fourth with 70 points from 35 games, a point ahead of Everton after their 2-0 win against Manchester United.

"Obviously it was a very difficult time for me to be on the sidelines for three months watching on especially after what went on at the start of the season," Ramsey told Sky Sports.

"It was a frustrating time but I'm just delighted to be back now... Hopefully, I can put in some good performances before the end of the season."

Before his injury Ramsey had been playing the best football of his career, scoring 13 goals in 27 games in all competitions.

"Aaron Ramsey is getting back to full fitness and sharpness, but everyone played well today," manager Arsene Wenger said.

"It was a good team performance as it will be when you win 3-0 away from home in a game you have to win.

"We have had to cope with five to six players all out at the same time and we have done as well as we can. You live in the real world."

Podolski scored twice for the second consecutive game and his exploits in front of goal have prompted questions about whether he is best suited as a central striker or on the left side where he has frequently been used.

The 28-year-old, however, said his focus was on winning games rather than his own role.

"When you score goals nobody speaks about where you play," he said.

"I feel well on the left side and the coach makes the decision about who plays on the left and who plays striker.

"In the end it is just important we play well and have the three points."

Arsenal face Hull again in the FA Cup final at Wembley on May 17 as they try to secure their first trophy since winning the same competition in 2005.

(Reporting By Tom Hayward, editing by Ed Osmond)

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India Inc. 'CAG'ed! Telecom Who Else?

Friday: 10.30 pm, Saturday: 11.30 am

Sunday: 9:30am & 11.00pm

Published on Sat, Apr 19,2014 | 18:15, Updated at Sat, Apr 19 at 18:19Source : CNBC-TV18 |   Watch Video :

This week the Supreme Court said that it is the duty of the Comptroller & Auditor General of India to audit all transactions of the Union & State as also to audit all receipts payable to the Consolidated Fund of India. And hence the apex court ruled that CAG's examination of the accounts of private telecom service providers in a revenue sharing contract is extremely important to ascertain whether there is an unlawful gain to the service provider and an unlawful to loss to the Union. Is it just telecom companies that can now be audited by CAG or does the application of this judgment extend to all situations where the government has a revenue share? To discuss the scope & enforcement of this order, CNBC-TV18's Menaka Doshi speaks to Rajeev Uberoi, Group General Counsel & Group Head - Legal & Compliance, IDFC and Vikram Nankani of ELP.

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Companies Act: How Will Life Change?

Published on Sat, Apr 19,2014 | 18:29, Updated at Sat, Apr 19 at 18:58Source : Moneycontrol.com |   Watch Video :

Hello & Welcome to this brand new series – Companies, Act! Over the next many weeks we will analyze the impact of the new company law on incorporation, capital raising, governance, board management, accounting and audit, M&A, litigation and bankruptcy. On this first episode we start by giving you the big picture view on how life has changed for companies, their management, their boards, auditors and their shareholders. And to that I have with Bharat Vasani, Cyril Shroff, Jamil Khatri & D M Muthukumaran.

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More rain likely in Northwest India; pre-monsoon showers to continue in south

Last night, the Western Disturbance over North Pakistan and adjoining areas of Jammu & Kashmir moved east-northeastwards and now lies over Jammu & Kashmir. This weather system is working in tandem with a cyclonic circulation over Rajasthan. According to the latest weather update by Skymet Meteorology Division in India, these weather systems will continue to bring snow in the higher reaches of Jammu & Kashmir and Himachal Pradesh and will also bring rain in Uttarakhand, Punjab, Rajasthan, Haryana and west Uttar Pradesh till Sunday. Day temperatures in northwest plains are below the normal and they are unlikely to rise during the next two days under the influence of these systems.

Satellite images show a wind discontinuity that extends from Gangetic West Bengal to Tamil Nadu across some parts of Odisha, South Chhattisgarh, Vidarbha, Madhya Maharashtra, Telangana and Karnataka.

Under the aegis of this discontinuity where warm and moist winds are colliding, isolated rain could be experienced over Gangetic West Bengal and Jharkhand in east India, Chhattisgarh and parts of Odisha in east central India, Vidarbha, Telangana and Madhya Maharashtra in central South Peninsula.

This discontinuity will also give pre-monsoon showers at isolated places in coastal Andhra Pradesh, north and south interior Karnataka. Coastal areas of Karnataka and Kerala will also receive some rain due to a trough extending from Kerala to Karnataka along the West coast. The areas that will remain dry are northern parts of the West coast (Mumbai), Gujarat and Tamil Nadu.

Isolated showers are also expected in the hills of West Bengal and Sikkim due to a cyclonic circulation over the foothills of Himalayas in West Bengal. Another cyclonic circulation over Assam will give rain at isolated placed in the Northeast region.

By: Skymetweather.com

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Heat waves could threaten global food supply

Heat waves, extreme temperatures and elevated levels of carbon dioxide could significantly reduce crop yields, according to a study by researchers at Norwich-based University of East Anglia. Global warming could threaten the supply of food, especially maize, wheat and soybean across the world if global climate change is not tackled and upturned.

Studies held earlier stated that climate change could decrease the yield of maize globally under a "business as usual" scenario for future emissions of greenhouse gases. The recent study includes heat waves, which could double the losses of the crop.

Extreme temperatures brought about by increase in global mean temperature can be dangerous to crops, particularly around the flowering period of the plant also known as anthesis. During this stage, high temperatures lead to reduced pollen sterility and seed set, thereby reducing the crop yield.

According to Skymet Meteorology Division in India, a heat wave is a prolonged period of weather condition when maximum temperature is more than 40°C and 5°C above the normal average. The impact of heat waves on wheat and soybean are less profound than maize.

Warm climate can make many crops grow quickly but surprisingly reduce yields. The reason is simple; crops tend to grow faster but for some grains faster growth reduces the amount of time that seeds have to grow and mature.

It is true that on doubling carbon dioxide levels, yields of wheat and soybeans could increase by 30 per cent and 10 per cent for corns. However, an increase in temperature, above the crop`s optimal level, may counteract the potential increase due to higher carbon dioxide concentrations.

Thus, the study concludes that future heat waves will prove to be detrimental to key global food crops if climate change is not addressed.

picture courtesy- Institute of Physics

By: Skymetweather.com

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Gold dips on U.S. data, talk of waning physical demand

Investing.com - Investing.com - Gold prices fell on Thursday after weekly U.S. jobless claims numbers and a regional factory report beat expectations, while talk of waning physical demand in Asia softened the precious metal as well.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,293.90 a troy ounce during U.S. trading, down 0.74%, up from a session low of $1,293.20 and off a high of $1,304.30.

The June contract settled up 0.25% at $1,303.50 on Wednesday.

Futures were likely to find support at $1,289.60 a troy ounce, Tuesday's low , and resistance at $1,331.30, Monday's high.

Solid U.S. economic indicators released earlier bolstered the dollar and marred gold's historical appeal as a hedge to a weaker greenback.

The Federal Reserve Bank of Philadelphia reported that its manufacturing index rose to 16.6 in April, the highest level since September, from 9.0 in March. Analysts had expected the index to tick up to 10.

Separately, the Labor Department reported that the number of individuals filing for initial jobless benefits in the week ending April 12 rose by 2,000 to 304,000, better than analysts' forecasts for a rise to 315,000.

On Wednesday, Federal Reserve Chair Janet Yellen said that monetary policy will need to remain accommodative for some time, citing slackness in the labor market and low inflation, which weakened the dollar, though Thursday's data gave the greenback some support and chipped away at gold's gains.

Elsewhere, talk of soft physical demand in China coupled with reports of funds selling gold positions softened prices as well.

Meanwhile, silver for May delivery was down 0.21% at US$19.593 a troy ounce, while copper futures for May delivery were up 0.85% at US$3.051 a pound.

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Dollar erases losses on data, Yellen comments still weigh

Investing.com - Investing.com - Upbeat U.S. regional factory and jobless claims reports erased the dollar's losses against most major currencies on Thursday, though Federal Reserve Chair Janet Yellen's dovish speech delivered on Wednesday still weighed on the currency.

In U.S. trading on Thursday, EUR/USD was up 0.01% at 1.3818.

The dollar narrowed earlier losses stemming from Federal Reserve Chair Janet Yellen's dovish speech on Wednesday and rose on cheery U.S. data.

The Federal Reserve Bank of Philadelphia reported earlier that its manufacturing index rose to 16.6 in April, the highest level since September, from 9.0 in March. Analysts had expected the index to tick up to 10.

Separately, the Labor Department reported that the number of individuals filing for initial jobless benefits in the week ending April 12 rose by 2,000 to 304,000, better than analysts' forecasts for a rise to 315,000.

On Wednesday, Fed Chair Janet Yellen said that monetary policy will need to remain accommodative for some time, citing slackness in the labor market and low inflation, which weakened the dollar, though Thursday's data gave the greenback some support.

Meanwhile in Europe, Germany's producer price index contracted 0.3% in March from a month earlier and fell 0.9% on year.

Analysts were expecting a 0.1% monthly increase and a 0.7% on-year decline.

The numbers chipped away at the euro's gains over the dollar, as a day earlier, data revealed that the annual inflation rate slowed to 0.5% in March from 0.7% the previous month, soft but in line with expectations.

Core inflation, which strips out volatile items like food and energy costs, fell to 0.7% from 1.0% in February, missing expectations for a 0.8% reading.

Euro zone inflation has now been in the European Central Bank's danger zone of below 1% for six straight months, fueling speculation that policymakers will need to implement fresh stimulus measures to shore up the fragile recovery in the euro area.

The dollar was up against the yen, with USD/JPY up 0.20% at 102.44, and up against the Swiss franc, with USD/CHF up 0.12% at 0.8828.

The yen continued to come under pressure after Japanese Central Bank Governor Haruhiko Kuroda told parliament this week that now is not an appropriate time to discuss exiting stimulus policies.

The greenback was flat against the pound, with GBP/USD down 0.01% at 1.6796.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.02% at 1.1015, AUD/USD down 0.48% at 0.9325 and NZD/USD down 0.68% at 0.8566.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.01% at 79.92.

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