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GLOBAL MARKETS-Stocks, oil fall as investors seek safe havens

Published 05/05/2011, 09:11 AM
Updated 05/05/2011, 04:26 PM
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* US new jobless claims unexpectedly jump to 8-month high

* Stocks, oil add to losses after US data

* Treasuries, yen rise as investors seek safe havens

(Updates with reaction to U.S. data)

By Walter Brandimarte

NEW YORK, May 5 (Reuters) - World stocks and crude oil prices fell on Thursday after a report showed U.S. jobless claims unexpectedly jumped to an eight-month high last week, fueling demand for safe-haven assets.

U.S. crude oil prices plunged 3.3 percent to 105.58 per barrel while the benchmark MSCI All-Country Stock index <.MIWD00000PUS> fell 0.68 percent.

Wall Street was poised to open lower, with S&P 500 futures falling 8.5 points, while Dow Jones industrial average futures dropped 76 points. Nasdaq 100 futures lost 12 points.

Among the safe-havens benefited by the data, 10-year U.S. Treasury notes jumped 11/32 in price, its yield at 3.181 percent. The Japanese yen gained around 1 percent against the U.S. dollar, at 79.70.

The euro fell against the dollar after European Central Bank President Jean-Claude Trichet, speaking at a monthly news conference, was less hawkish than some had expected on future rate hikes.

The euro fell to a session low of $1.4708 EUR= from around $1.4815 after Trichet mentioned upside risks on prices but did not use the phrase 'strong vigilance,' which traders said suggests the ECB won't hike rates again in June. (Additional reporting by Steven C. Johnson and Angela Moon;)

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