Philip Chua Business Blog

Posts Tagged ‘contract’

THE Singapore Exchange (SGX) will launch an oil futures contract in the first quarter of next year, said the exchange’s new chief executive Magnus Bocker yesterday.
This comes as the trading of instruments linked to commodities hots up here, with another commodities exchange set to start operations soon.
The new SGX contract – effectively a bet on the future price of oil – will be linked to bunker… more

STOCKS here started the holiday-shortened week on a bullish note yesterday, propelled by major contract wins at some firms and renewed optimism for the economic recovery boosting banks and commodities-related stocks.

The Straits Times Index (STI) finished 36.34 points or 1.3 per cent higher at 2,797.88, the highest closing level since Aug 14 last year.

Elsewhere in Asia-Pacific yesterday, othe… more

A 70-POINT rise in the December futures contract on the Dow Jones Industrial Average, a 1.7 per cent rise in Hong Kong’s Hang Seng index and a firm opening Europe-wide yesterday led traders here to bet heavily on Wall Street opening the week with a bang. The subsequent buying targeted mainly banks and propelled the Straits Times Index up 56.62 points to 2,783.85 in moderate volume of 1.85 billion … more

SOME of the excitement which has been missing from the local stock market during the first two days of this week returned yesterday with a bang when investors bought in anticipation of an earnings-driven Wednesday rise on Wall Street. They formed this view based on developments on two fronts – a 2 per cent jump in the Hang Seng Index and a 90-point rise in the December futures contract on the Dow … more

Reuters – The chief regulator of U.S. commodities markets, Gary Gensler, is serious about limiting speculation in energy futures trading and will move to provide details about managed funds’ contract positions in an attempt to make markets more transparent.

Reuters – Citigroup Inc energy trader Andrew Hall is proposing to modify his contract in an effort to avoid a confrontation with the Obama administration’s pay czar, The Wall Street Journal reported on Thursday, citing sources familiar with the situation.

Reuters – Citigroup Inc may give control of its Phibro commodities business to Andrew Hall, the energy trader making headlines for demanding a $100 million payday under his contract, The New York Times said on Thursday, citing a person with knowledge of the negotiations.

AFP – Oil prices closed mixed Thursday, with a late rally in Wall Street stocks firing up enthusiasm for the New York benchmark contract.