India Morning Call-Global markets

Mon Jul 15, 2013 11:25pm EDT

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-----------------------(0848 a.m. India time)------------------
    
                           LEVEL   NET/CLOSE  PCT/YIELD
 DJIA                   15484.26       19.96       0.13
 S&P 500                  1682.5        2.31       0.14
 FTSE                    6586.11       41.17       0.63
 MSCI Asia-Pac Ex-JP      440.92         0.5       0.11
                                              
 Nikkei                  14568.2       61.95       0.43
 Euro                      1.307      1.3062           
 Japanese Yen              99.78       99.85           
 U.S. Crude               106.11       -0.21           
 Brent                     108.9       -0.19           
 Gold                    1279.28     1281.99           
 Silver                    19.76       19.89           
 Copper-LME              6942.25       25.25       0.37
 UST 10-YR              93.09375                 2.5484
 UST 30-YR                86.875                 3.5986
 Updates with the latest figures

    EQUITIES
    NEW YORK - Citigroup's strong earnings helped the S&P 500
end higher on Monday for an eighth straight day, the longest
such streak since mid-January, though weak retail sales limited
gains in a session with the lowest volume of the year. 
   The Dow Jones industrial average and the S&P 500 finished at
record closing highs for the third consecutive session. The
Nasdaq scored its highest close since September 2000.
    For a full report, double click on 
    - - - -
    LONDON - Britain's blue-chip stock index recorded a six-week
closing high on Monday, with banks leading the advance after
strong results from U.S. bank Citigroup improved investors'
outlook on the financial sector. 
   The Citigroup results added to the positive mood
established following GDP data from China, where economic growth
eased to 7.5 percent in the second quarter, in line with
forecasts. This was a relief for investors who had expected even
weaker readings after a surprise fall in exports in June.
   
     For a full report, double click on 
    - - - -
    TOKYO - Japan's Nikkei share average rose to a 7-1/2-week
high on Tuesday morning, helped by gains in Wall Street and
Asian equities, while a weaker yen also provided a boost to
blue-chip exporters. 
    The benchmark Nikkei rose 0.8 percent to 14,621.16,
a level not seen since May 24, in midmorning trade. The broader
Topix advanced 0.7 percent to 1,210.52. 
    For a full report, double click on 
    - - - -
    HONG KONG - Hong Kong shares may start modestly higher on
Monday, tracking Wall Street gains with weaker-than-forecast
growth in U.S. retail sales likely to further calm jitters that
the Federal Reserve will reduce its bond-buying stimulus anytime
soon. 
   On Monday, the Hang Seng Index closed up 0.1 percent
at 21,303.31, hovering around one-month highs. The China
Enterprises Index of the top Chinese listings in Hong
Kong rose 0.1 percent.   
    For a full report, double click on 
    - - - -
    FOREIGN EXCHANGE
    TOKYO - The dollar held on to a moderate recovery path on
Tuesday, with investors sticking to the view that the Federal
Reserve is still likely to be the first among major central
banks to move away from ultra-loose monetary policy. 
   Many traders were cautious about being too long in the dollar
ahead of testimony on Wednesday by Fed Chairman Ben Bernanke,
whose surprisingly dovish tone last week caused panic selling in
the U.S. currency. 
    
    For a full report, double click on 
    - - - -
    TREASURIES
    NEW YORK - U.S. Treasury debt prices rose Monday as
weaker-than-forecast retail sales growth led to expectations of
disappointing second-quarter economic growth and raised bets the
Federal Reserve might stick its current rate of bond-purchase
stimulus. 
    The U.S. government said on Monday retail sales increased
0.4 percent last month, half of the rise economists polled by
Reuters had forecast. The slowdown led Wall Street to now expect
the economy likely expanded at a meagre 1 percent clip in the
second quarter. 
 
    For a full report, double click on 
    - - - -
    COMMODITIES
    GOLD
    SINGAPORE - Gold was little changed on Tuesday as investors
awaited Federal Reserve Chairman Ben Bernanke's congressional
testimony later this week for clues on when the U.S. central
bank would begin tapering its monetary stimulus.
    Spot gold was down 0.01 percent at $1,281.84 an ounce
by 0011 GMT, after falling slightly on Monday. 
    For a full report, double click on 
    - - - - 
    BASE METALS
    SINGAPORE - London copper firmed on Tuesday after
weaker-than-expected U.S. retail sales backed the view the
Federal Reserve will hold off reducing monetary support anytime
soon. 
    Markets are waiting for Fed Chairman Ben Bernanke to testify
to Congress this week for further signals on when he U.S. plans
to scale back its huge bond-buying programme, which has been
bolstering demand for commodities. 
    For a full report, double click on 
    - - - - 
    OIL
    NEW YORK - Crude oil futures edged up slightly on Monday in
thin trade, reversing earlier losses, as the market digested
mixed economic and industry data from the United States and
China, the world's biggest oil consumers.   
   China's annual GDP growth slowed to 7.5 percent in the second
quarter of 2013, the ninth quarter in the last 10 that the rate
has fallen, official data showed. However, China's implied oil
demand rebounded in June to the highest in four months as
refineries returned from maintenance. 
   
    For a full report, double click on 

 (Compiled by Abhishek Vishnoi)
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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.