India Morning Call-Global markets
----------------------(0825 a.m. India time)------------------ LEVEL NET/CLOSE PCT/YIELD DJIA 15494.78 118.72 0.77 S&P 500 1697.6 9.61 0.57 FTSE 6622.86 39.06 0.59 MSCI Asia-Pac Ex-JP 462.96 -1.45 -0.31 Nikkei 14417.68 13.01 0.09 Euro 1.3326 1.3333 Japanese Yen 99.29 99.05 U.S. Crude 105.87 -0.72 Brent 109.64 -0.43 Gold 1313.44 1313.39 Silver 21.9 21.7 Copper-LME 7083 -2 -0.03 UST 10-YR 96.875 2.8643 UST 30-YR 95.6875 3.8713 Updates with the latest figures EQUITIES NEW YORK - U.S. stocks advanced on Monday after former Treasury Secretary Lawrence Summers withdrew as a candidate for Federal Reserve chairman, lifting some market uncertainty about what was heading towards a contentious confirmation process. Early enthusiasm faded, however, after President Barack Obama stood firm in warning Republicans in Congress he will not negotiate over an extension of the U.S. debt ceiling as part of a budget fight. For a full report, double click on - - - - LONDON - Britain's top share index hit a 1-1/2 month high on Monday as Lawrence Summers quit the race to head the U.S. Federal Reserve, boosting prospects of a more measured scale-back in economic stimulus measures. The blue-chip FTSE 100 index ended up by 0.6 percent, or 39.06 points, at 6,622.86 points, marking its highest close since ending at 6,647.87 points on August 2. For a full report, double click on - - - - TOKYO - Japan's Nikkei average came out of a holiday on a firmer footing on Tuesday, playing catch-up to news that Lawrence Summers had dropped out of the race to head the Federal Reserve as markets brace for the U.S. central bank's decision on its stimulus programme. The benchmark Nikkei rose 0.3 percent to 14,441.54 in mid-morning trade after adding 0.1 percent to 14,404.67 on Friday. The markets were closed on Monday for a public holiday. For a full report, double click on - - - - HONG KONG - Hong Kong shares may open lower on Tuesday, pulling back from a 17-month high as investors await the outcome of the U.S. Federal Reserve's two-day policy meeting where it is widely expected to start paring its aggressive stimulus. Tenwow International is making its trading debut, while Prada is expected to report later in the day a 12 percent rise in profit for the six months ended July, largely due to an almost 12 percent growth in sales in the world's second largest economy. For a full report, double click on - - - - FOREIGN EXCHANGE TOKYO - The dollar stayed near a four-week low on Tuesday after Lawrence Summers' withdrawal from the race to lead the Federal Reserve reduced expectations of a faster pace of monetary policy tightening by the U.S. central bank. The decision by the former U.S. Treasury secretary - who is regarded by investors as relatively hawkish - left Federal Reserve Vice Chair Janet Yellen as the front-runner. Traders said the Fed is likely to continue a slow, cautious approach to tightening policy if Yellen is named to replace current Chairman Ben Bernanke. For a full report, double click on - - - - TREASURIES NEW YORK - U.S. Treasury debt prices rose on Monday after the withdrawal by Lawrence Summers for consideration as chairman of the Federal Reserve eased fears of more aggressive monetary policy tightening if he were to head the U.S. central bank. Bond yields fell to their lowest this month, led by that on the five-year note, which fell as low as 1.55 percent. The interest rate on one-month bills dipped below zero. For a full report, double click on - - - - COMMODITIES GOLD SINGAPORE - Gold hovered near a five-week low on Tuesday as traders waited for guidance on when the U.S. Federal Reserve will begin tapering its massive economic stimulus. Spot gold had risen 0.1 percent to $1,315.10 an ounce by 0015 GMT, after falling 1 percent in the previous session to a five-week low of $1,303.85. U.S. gold dropped $2.50 to $1,315.30. For a full report, double click on - - - - BASE METALS SINGAPORE - Copper edged lower on Tuesday, falling for three out of four sessions and trading close to five-week low on positioning ahead of a Federal Reserve policy meeting at which it is widely expected to begin withdrawing stimulus. Three-month copper on the London Metal Exchange had slid 0.3 percent to $7,060.50 a tonne by 0102 GMT. It fell to $7,024 a tonne on Friday, its weakest since Aug. 8. For a full report, double click on - - - - OIL NEW YORK - Global oil prices fell on Monday after U.S. and Russian officials reached a weekend deal to strip Syria of chemical weapons, easing investor worries. Also pressuring oil prices, Iran's new atomic energy chief said his country wants to settle a decade-old nuclear dispute with the West. For a full report, double click on (Compiled by Abhishek Vishnoi; Editing by supriya Kurane)
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