Energy

A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

A glance through the latest expert views and predictions about commodities, while some positive signs for oil prices, mixed views on gold and Merrills seeing little downside for uranium.

It only needed China to deny it was looking to dump the euro to release pent up buying demand last night. Dow up 284. Aussie surges three cents.

As we are not seeing anything like the credit crunch of 2008, brokers remain confident of value on offer in stock markets with Australian resources and energy highly favoured.

A glance through the latest expert views and predictions about commodities, with Barclays seeing oil price risk to the upside at current levels and the super tax impact on iron ore examined.

Wall Street opened stronger last night, but ultimately closed lower, as the rumour mill churned and the euro pushed toward previous lows. Dow down 69.

The Dow opened down nearly 300 points as Korea entered the mix before a rolling wave of buying took the average back to only down 22, and the S&P into the green.

Citi suggests China will slow its slowing while Merrill Lynch sees value in Australian banks.

RBS notes the world has been overlooking the quiet return to oil production in Iraq which could “monumentally” impact on the oil market.

Wall Street saw a nervous late sell-off as Spain moved to take over a troubled regional bank, but commodities were strong overnight. Dow down 126.