India Morning Call-Global markets

Sun Dec 22, 2013 10:30pm EST

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EQUITIES
    NEW YORK -  U.S. stocks rose on Friday, capping the best
week for major indexes in months as unexpectedly strong data on
economic growth increased confidence that the recovery was
accelerating.
    Gross domestic product grew at an annual rate of 4.1 percent
in the third quarter, the fastest pace in almost two years, and
exceeding the 3.6 percent reported earlier this month. Business
spending was also stronger than previously estimated.
    For a full report, double click on 
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    LONDON - Britain's top share index posted its biggest weekly
gain since July after rising for a third straight session on
Friday, boosted by strong U.S. data and a rally in cruise
operator Carnival.
    
    For a full report, double click on 
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    TOKYO - Japan's Nikkei share average closed a choppy session
at its highest level in six years on Friday, with traders citing
futures buying by funds ahead of the long weekend for the
rebound from morning losses.
    The market has been underpinned by a soft yen after the U.S.
Federal Reserve this week finally announced it would start
dialing back its massive stimulus, sending the dollar broadly
higher.
    The Bank of Japan, meanwhile, kept monetary policy steady on
Friday, encouraged by growing signs the benefits of its massive
stimulus are spreading through broader sectors of the economy. 
    For a full report, double click on 
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    HONG KONG - The Hang Seng index is UP 0.71 percent.
For a full report, double click on 
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    FOREIGN EXCHANGE
    TOKYO - The U.S. dollar got off to a sluggish start in Asia
on Monday, having slipped late last week as investors took some
profits although analysts still expect its longer-term uptrend
to stay intact.
    The dollar bought 104.01 yen, having stepped back
from a five-year peak of 104.64 scaled on Friday. The euro,
which slid to a two-week trough of $1.3625, last stood at
$1.3670.
    Trading could be choppy this week as liquidity dries up with
many markets across the globe shut on Wednesday for the
Christmas holiday. Japanese financial markets are closed on
Monday for the Emperor's Birthday.
    .
    For a full report, double click on 
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    TREASURIES
    NEW YORK - Longer-dated Treasury debt prices rose on Friday
as yields near the upper end of their recent range drew buyers
and the market adjusted to the idea that the Federal Reserve
would begin to trim its bond purchases at the start of the new
year.
    In late trade, the 30-year bond rose 1-11/32 in
price to yield 3.82 percent, while the U.S. benchmark 10-year
Treasury note was up 11/32 for a yield of 2.89
percent.
    For a full report, double click on 
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    COMMODITIES
    GOLD
    SINGAPORE - - Gold ticked up Monday after its biggest weekly
loss in a month, but the metal was still at the risk of falling
back below $1,200 an ounce as investors fretted over the impact
of a U.S. stimulus tapering.
    Spot gold edged up 0.1 percent to $1,203.91 an ounce
by 0018 GMT. It rose 1 percent on Friday on short-covering after
losing 4 percent in the previous three sessions. 
    For a full report, double click on 
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    BASE METALS
    SINGAPORE - London copper futures edged higher on Monday,
helped by a weaker dollar after holding steady last week as
investors largely took the Fed's decision to start cutting its
monetary stimulus in stride.
    Three-month copper on the London Metal Exchange 
gained 0.2 percent to $7,255.25 a tonne by 0125 GMT.  
    For a full report, double click on 
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    OIL
    NEW YORK - Oil prices rose and gasoline futures hit a
three-month high on Friday, fueled by spread trading and supply
concerns.
    A string of glitches at U.S. refineries and strikes at four
Total refineries in France lifted U.S. RBOB gasoline
futures 1.5 percent, and they touched the highest level since
early September.
    For a full report, double click on 

 (Compiled by Himank Sharma)
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