MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Fall on Manufacturing Data Amid Cliff Concern; as an unexpected contraction in manufacturing spurred concern about the potential economic toll from the so-called fiscal cliff. The S&P 500 dropped 0.5 percent to 1,409.46 at 4 p.m. in New York. The Dow Jones Industrial Average lost 59.98 points, or 0.5 percent, to 12,965.60. More than 5.6 billion shares traded hands on U.S. exchanges today, or 9.4 percent below the three- month average, according to data compiled by Bloomberg. The Institute for Supply Management's U.S. factory index fell to 49.5 in November from 51.7 a month earlier, the Tempe, Arizona-based group said today. Economists in a Bloomberg survey projected a reading of 51.4 for November, according to the median of 83 forecasts. Thedividing line between expansion and contraction is 50.

European Stocks Climb as Chinese Manufacturing Expands; as two measures of Chinese manufacturing increased and Greece offered to spend 10 billion euros ($13 billion) buying back bonds. France's CAC 40 advanced 0.3 percent and Germany's DAX added 0.4 percent, while the U.K.'s FTSE 100 increased 0.1 percent.

COMMODITIES-Oil, metals mostly up as focus turns to China growth (Reuters); and positive U.S. factory data helped markets override concerns about the U.S."fiscal cliff" that had dampened sentiment for weeks. U.S. crude oil was up 0.2 percent at above $89 per barrel, after hitting a two-week high at $90.33. The measures - known as the fiscal cliff - could push the U.S. economy into recession, economists warn. "The fiscal cliff would be a constant worry as we approach the deadline (but) I think we will have further rallies into year-end based on China in particular," said Robin Bhar, a base metals analyst in London for Societe Generale.

Source:Jupiter Securities Research, 04 December 2012