India Morning Call-Global markets
-----------------------(0833 a.m. India time)------------------ LEVEL NET/CLOSE PCT/YIELD DJIA 15470.52 18.67 0.12 S&P 500 1680.91 4.65 0.28 FTSE 6571.93 15.58 0.24 MSCI Asia-Pac Ex-JP 441.28 -1.31 -0.3 Nikkei 14694.53 79.49 0.54 Euro 1.3108 1.3124 Japanese Yen 99.75 99.57 U.S. Crude 106.39 -0.09 Brent 108.49 -0.12 Gold 1278.06 1275.39 Silver 19.36 19.25 Copper-LME 6905 15 0.22 UST 10-YR 93.640625 2.4832 UST 30-YR 87.3125 3.5714 Updates with the latest figures EQUITIES NEW YORK - U.S. stocks ended modestly higher on Wednesday after Federal Reserve Chairman Ben Bernanke said the timeline for winding down the U.S. central bank's stimulus programme was not set in stone. Shares of Bank of America and Yahoo rose after the companies reported quarterly results. Both ranked among the names giving the biggest boost to the S&P 500. For a full report, double click on - - - - LONDON - Britain's FTSE 100 rose on Wednesday, with miners cheered by a string of solid output numbers from the likes of BHP Billiton, and with the U.S. Federal Reserve reassuring that stimulus will only be cut if the economy is strong. Fed Chairman Ben Bernanke signalled that plans to start scaling back bond purchases this year could be altered if the economic outlook deteriorates. For a full report, double click on - - - - TOKYO - Japan's Nikkei share average rose to an eight-week high on Thursday morning after Federal Reserve Chairman Ben Bernanke said the timing of when the U.S. central bank would begin winding down its stimulus was flexible. In mid-morning trade, the benchmark Nikkei rose 0.7 percent to 14,712.12, a level not seen since May 24, while the broader Topix added 0.4 percent to 1,218.46. For a full report, double click on - - - - HONG KONG - Hong Kong shares are expected to start Thursday trade steady, with the mainland property sector in focus as China's June home price data is due around the market open. On Wednesday, the Hang Seng Index ended up 0.3 percent at 21,371.9, while the China Enterprises Index of the leading Chinese listings climbed 0.7 percent. For a full report, double click on - - - - FOREIGN EXCHANGE SYDNEY - The dollar held on to modest overnight gains early in Asia on Thursday after a choppy session that saw investors first sell then buy back the currency in reaction to comments from Federal Reserve Chairman Ben Bernanke. In the end, markets were soothed by his pledge to keep policy accommodative for the foreseeable future. Bernanke still left intact the prospect of the Fed scaling back stimulus later this year. For a full report, double click on - - - - TREASURIES NEW YORK - U.S. Treasuries yields hit their lowest levels in two weeks on Wednesday after Federal Reserve Chairman Ben Bernanke said there was no committed timetable for the U.S. central bank to scale back its bond purchase program. While sticking closely to the timeline he first announced last month that the Fed would halt its current round of bond buying by mid-2014 when unemployment was projected to be around 7 percent, Bernanke, in highly anticipated testimony before Congress, went out of his way to stress that nothing was certain. For a full report, double click on - - - - COMMODITIES GOLD SINGAPORE - Gold inched up on Thursday after falling more than 1 percent in the previous session, but the metal was still under pressure from the prospect that the U.S. Federal Reserve would eventually end its stimulus programme. Gold added $2.47 an ounce to $1,277.86 by 0035 GMT. For a full report, double click on - - - - BASE METALS SINGAPORE - London copper slipped on Thursday after Federal Chairman Ben Bernanke reaffirmed plans to curtail bond buying by the end of the year, while slow northern hemisphere demand weighed on the prices of industrial metals. Three-month copper on the London Metal Exchange eased 0.3 percent to $6,872 a tonne by 0111 GMT, adding to losses of more than 1 percent in the previous session. For a full report, double click on - - - - OIL NEW YORK - Brent futures slipped on Thursday on the back of a stronger dollar, but held above $108 a barrel as a drawdown in U.S. stockpiles for a third week buoyed hopes of a steady revival in demand growth. The U.S. dollar held on to overnight gains as Fed Chairman Ben Bernanke pledged to keep monetary policy accommodative for the foreseeable future, weighing on commodity prices. For a full report, double click on (Compiled by Abhishek Vishnoi)
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