India Morning Call-Global markets
-----------------------(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)
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.