India Morning Call-Global markets

Wed Feb 20, 2013 10:19pm EST

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Stock Markets          (8: 45 a.m India Time)                   
                     
DJIA          13,927.54 -108.13  Nikkei        11,376.28  -92.00
NASDAQ         3,164.41 -49.19   FTSE           6,395.37  +16.30
S&P 500        1,511.95  -18.99  Hang Seng     23,219.53  +75.62
 
 Bonds                                                          
US 10 YR Bond     2.0087  -0.002 US 30 YR Bond     3.1999 -0.001
 
 Currencies                                    
EUR US$          1.3278  1.3280  Yen US$           93.59   93.61
 
 Commodities                                                    
 Gold (Lon)      1561.66          Silver (Lon)     28.49        
 Gold (NY)       1561.5           Light Crude      94.65
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updates with Tokyo and Hong Kong numbers         


    EQUITIES
    NEW YORK -  U.S. stocks fell the most in three months and a
key gauge of market volatility spiked on Wednesday after minutes
from the U.S. Federal Reserve's most recent meeting suggested
the central bank may slow or stop buying bonds sooner than
expected. 
    The Dow Jones industrial average dropped 108.13
points, or 0.77 percent, to 13,927.54 at the close. The Standard
& Poor's 500 Index fell 18.99 points, or 1.24 percent, to
1,511.95. The Nasdaq Composite Index lost 49.19 points,
or 1.53 percent, to end at 3,164.41. 
     For a full report, double click on 
    - - - - 
    LONDON - Britain's benchmark equity index edged up on
Wednesday to touch fresh five-year highs but its failure to
close above a key technical level led some traders to expect a
minor, near-term sell-off. 
   The blue-chip FTSE 100 index closed up 0.3 percent,
or 16.30 points higher, at 6,395.37 points - its highest level
since early 2008. 
    For a full report, double click on 
    - - - - 
    TOKYO - The Nikkei average edged lower on Thursday as
exporters and construction equipment makers dropped, tugging the
market  slightly below a 52-month high tapped the previous day
following weakness on Wall Street. 
     The Nikkei dropped 0.4 percent to 11,425.25. On 
Wednesday, the Nikkei rose as high as 11,510.52, also the 
highest level since late September 2008.
    For a full report, double click on 
    - - - - 
    HONG KONG- Shares were set to open lower on Thursday, with
property stocks leading the slide following Beijing's latest
move to curb frothy real estate markets.  
   Belle International Holdings Ltd, China's top
footwear retailer, dropped 12.9 percent after saying it expected
its 2012 net profit would be marginally higher than in 2011, and
would be at the lower end of a range of estimates contained in
certain analysts' reports. 
   The Hang Seng Index was set to open down 1.2 percent
at 23,026.18. The China Enterprises Index of the top
Chinese listings was indicated to start down 1.5 percent.
    - - - - 
    FOREIGN EXCHANGE 
     SYDNEY- The U.S. dollar held firm on Thursday, having
enjoyed its biggest one-day gain in seven months against a
currency basket as commodities and U.S. equities slid on rumours
of a hedge fund in trouble.
    The resurgent dollar saw the euro skid to a one-month low of
$1.3271, well off Wednesday's session high of $1.3434. It
has broken below initial support at $1.3310, the 38.2 percent
retracement of its Nov-Feb rally. The common currency was last
flirting with its 55-day moving average at $1.3280.    

    For a full report, double click on 
    - - - - 
    TREASURIES 
    NEW YORK -  Prices on U.S. 30-year Treasury bonds briefly
turned higher on Wednesday after falling into negative territory
in reaction to the Federal Reserve minutes of its January
meeting that showed policymakers discussing slowing or stopping
the central bank's bond purchases.
    The 30-year bond was 1/32 higher in price for a
yield of 3.21 percent. The 30-year yield had risen to as high as
3.240 percent shortly after the release of the Federal Open
Market Committee minutes of its Jan. 29-30 meeting.
    For a full report, double click on 
    - - - - 
    COMMODITIES 
    GOLD
    SINGAPORE- Gold rebounded half a percent on Thursday, but
remained near a seven-month low hit in the previous session on
worries that the Federal Reserve may stop or slow its bond
buying programme. 
    Spot gold gained nearly half a percent to $1,569.26 
an ounce by 0034 GMT, after falling to $1,558.24 in the previous
session, its lowest since last July. It fell 2.6 percent on 
Wednesday, posting the biggest daily drop in a year.
    For a full report, double click on 
    - - - - 
    BASE METALS
 SINGAPORE- London copper slipped to its lowest for the year on
Thursday as technical selling took hold after minutes of a U.S.
monetary policy meeting showed some officials think bond buying
should be scaled back. Copper had been dragged on Wednesday to
its lowest levels in a month by muted buying from top consumer
China. 
    Three-month copper on the London Metal Exchange 
fell by 0.31 percent to $7,935 a tonne by 0124 GMT, adding to 
losses from the previous session when it saw its second biggest 
single-day fall for the year.
    For a full report, double click on 
    - - - - 
    OIL
    NEW YORK - Crude oil futures fell sharply on Wednesday,
joining in a sell off hitting precious metals and copper, as
selling accelerated amid market talk that a hedge fund was
forced to liquidate substantial positions.
    Brent April crude fell $2.10 to $115.42 a barrel by
1:40 p.m. EST (1847 GMT), having dropped as low as $115.05 after
reaching $117.66.
    Expiring U.S. March crude was down $2.62 at $94.04 a
barrel, having swung from $93.92 to $97.07. U.S. April crude
CLJ3 was down $2.63 at $94.47 a barrel, having slumped as low as
$94.21.
    For a full report, double click on 
    - - - -

 (Compiled by Manoj Dharra)
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