REFILE-NYMEX-Crude firms towards $88 after Greek debt deal
(Corrects date to Nov 27)
SINGAPORE Nov 27 (Reuters) - U.S. crude futures edged up on Tuesday, closing in on $88 a barrel after euro zone finance ministers and the International Monetary Fund agreed a new debt target for Greece, calming the immediate fears of investors and boosting the euro.
* U.S. crude for January delivery rose 12 cents to $87.86 a barrel by 0022 GMT.
* Euro zone finance ministers and the International Monetary Fund clinched agreement on a new debt target for Greece on Monday in a breakthrough towards releasing an urgently needed tranche of loans to the near-bankrupt economy, officials said.
* Republicans in the U.S. Congress on Monday called on President Barack Obama to detail long-term spending cuts to help solve the country's fiscal crisis, while holding firm against the income tax rate increases for the wealthy that Democrats seek.
* Egypt's ruling Islamists tried to defuse a political crisis on Monday, with President Mohamed Mursi backing a compromise over his seizure of extended powers and his Muslim Brotherhood calling off a planned demonstration.
The euro hit a one-month high in early Asian trade on Tuesday after officials said global lenders reached a deal on new debt targets for Greece, key to freeing up the next installment of emergency aid.
0700 Germany Import prices Oct
0745 France Consumer confidence Nov
1245 U.S. ICSC weekly chain store sales
1330 U.S. Durable goods orders Oct
1330 U.S. Chicago Fed Midwest Manufacturing Oct
1400 U.S. CaseShiller home price index Sep
1500 U.S. Consumer confidence Nov
2130 U.S. API weekly crude stocks (Reporting by Luke Pachymuthu; Editing by Ed Davies)
- Tweet this
- Share this
- Digg this
- U.S. nurse quarantined over Ebola calls treatment "frenzy of disorganization"
- Wall Street finally turning on Amazon as Bezos magic fades
- Former Cream frontman Jack Bruce dies aged 71
- São Paulo running out of water as rain-making Amazon vanishes
- Iraqi security forces and Kurds gain ground against Islamic State
The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article