India Morning Call-Global markets
EQUITIES NEW YORK - Nasdaq unofficially closes up 15.14 points, or 0.37 percent, at 4,059.89. For a full report, double click on - - - - LONDON - UK-listed financial stocks advanced in relatively thin trading on Friday after the country's banking regulator relaxed a new rule determining the quality of assets banks must hold to cover risks from pension liabilities. UK banks rose 0.5 percent to top the leaderboard, after the Prudential Regulation Authority (PRA) said at least 56 percent of supplementary capital to cover mainly pension risks should be in top quality assets, not all of it, as originally proposed. For a full report, double click on - - - - TOKYO - Japanese stocks edged down in choppy trade on Monday morning as investors turned cautious over the market's recent rapid pace of gains, while trading was thin ahead of major U.S. economic data due this week. The Nikkei stock average was down 0.2 percent at 15,638.91 points in midmorning trade. The benchmark was trading 5.2 percent above its 25-day moving average of 14,872.71, suggesting it has reached overbought territory in a short period of time. For a full report, double click on - - - - HONG KONG - HK'S Hang Seng index to open up 0.2 percent. For a full report, double click on - - - - FOREIGN EXCHANGE SYDNEY - Commodity currencies were the star performers early in Asia on Monday in what would otherwise have been a featureless start to a heavy week of central bank policy meetings. Investors bought both the Australian and New Zealand dollars after a survey on Sunday showed China's factory growth held at an 18-month high in November, an outcome that was slightly ahead of expectations. Both Australia and New Zealand are highly leveraged to China's economic cycle. For a full report, double click on - - - - TREASURIES NEW YORK - U.S. Treasuries ended flat after a choppy, shortened trading session on Friday as month-end buying offset some earlier weakness and investors turned their focus to economic data next week expected to bring new clues over Federal Reserve policy. Treasuries had weakened earlier in light trading volumes with many traders off on Friday. The market closed early after being closed on Thursday for the U.S. Thanksgiving holiday. For a full report, double click on - - - - COMMODITIES GOLD SINGAPORE - Gold dropped on Monday, with investors jittery ahead of key U.S. data this week that could provide clues on when the Federal Reserve will begin scaling back its monetary stimulus. Spot gold had fallen 0.3 percent to $1,247.73 an ounce by 0028 GMT, after posting its biggest monthly loss since June. For a full report, double click on - - - - BASE METALS SINGAPORE - London copper started December trade on a softer footing after last month logging its biggest monthly loss since June, as traders waited to see if a key private sector report would reinforce signs of steady factory growth in top consumer China. Three-month copper on the London Metal Exchange was trading at $7,043.50 a tonne by 0126 GMT, down 0.16 percent after a half-percent gain the previous session. For a full report, double click on - - - - OIL CALGARY - Brent oil dropped by more than $1 on Friday while U.S. crude rose in thin, volatile trade ahead of the weekend as traders continued to weigh supply outages in Libya against U.S. inventory levels. Brent crude found some early support from the ongoing supply disruptions in Libya before falling into negative territory in a bout of late selling ahead of the settlement. For a full report, double click on (Compiled by Abhishek Vishnoi)
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