India Morning Call-Global markets
EQUITIES NEW YORK - U.S. stocks climbed on Monday, with the Dow and S&P 500 advancing to all-time highs as a distribution deal by Apple Inc with China Mobile boosted the technology sector. Apple rose 3.8 percent to $570.09, its biggest percentage gain in three months, after the tech titan said on Sunday it had signed a long-awaited agreement with China Mobile Ltd to sell iPhones through the world's biggest network of mobile phone users, a deal that could add billions of dollars to its revenue. The Dow Jones industrial average rose 73.47 points or 0.45 percent, to end at 16,294.61, a record high. The S&P 500 gained 9.67 points or 0.53 percent, to finish at a record 1,827.99. For a full report, double click on - - - - LONDON - Britain's shares rose for a fourth straight day on Monday as chip designer ARM was boosted by the prospect of more orders from key client Apple, while optimism about U.S. growth underpinned the broader market. The FTSE 100 closed up 72.03 points, or 1.1 percent, at 6,678.61, posting its longest winning run since October. For a full report, double click on - - - - TOKYO - Japan's Nikkei share average sped to a six-year peak on Tuesday morning, edging closer to the 16,000-mark, driven by buying from long-only investors after Wall Street racked up more records. The Nikkei was up 0.5 percent at 15,955.94 in mid-morning trade, adding to the previous four sessions' 4.8 percent rise. For a full report, double click on - - - - HONG KONG - The Hang Seng index gains 0.79 percent. For a full report, double click on - - - - FOREIGN EXCHANGE SYDNEY - The U.S. dollar continued to give back a bit of its recent hefty gains on Tuesday in a market lacking conviction with many investors having already closed their books for the year. The dollar last traded at 104.19 yen, struggling to make any headway after peaking at a five-year high of 104.64 on Friday. The very slim 103.77/104.125 range on Monday showed clearly how torpid the market was. The euro bought $1.3695, holding off a two-week low of $1.3625 plumbed Friday. Against the yen, the common currency stood at 142.63, not far from a five-year high of 142.90 set last week. For a full report, double click on - - - - TREASURIES NEW YORK - U.S. Treasuries prices slipped on Monday on light volume as medium-term issues weakened for a fourth straight session due to concerns the Federal Reserve might raise interest rates sooner than it signalled last week if the economy strengthens. Five-year note yields hit a three-month peak and seven-year yields hovered near their highest level since mid-September as investors exited bets that medium-term yields would stay low. Benchmark 10-year Treasury notes fell 11/32 in price to yield 2.926 percent, up 4 basis points from late on Friday. For a full report, double click on - - - - COMMODITIES GOLD SINGAPORE - Gold was hovering below $1,200 on Tuesday and looked likely to fall to its lowest in six months in thin year-end trade, with strong U.S. spending data denting the metal's safe-haven appeal. Spot gold had eased 0.06 percent to $1,198.10 an ounce by 0011 GMT, after dropping 0.3 percent in the previous session. For a full report, double click on - - - - BASE METALS SINGAPORE - London copper futures steadied above $7,200 a tonne on Tuesday with tighter near-term supplies underpinning prices amid thin liquidity. Three-month copper on the London Metal Exchange was little changed at $7,244 a tonne by 0116 GMT, with a lean 58 lots traded on LME Select. For a full report, double click on - - - - OIL NEW YORK - Crude oil futures slipped on Monday in light volume as traders booked profits after three days of gains ahead of the Christmas holiday, though refinery strikes in France and internal strife in producers Libya and South Sudan checked losses. Brent crude ended 21 cents lower at $111.56 per barrel, after touching a two-week high of $111.93. U.S. crude oil futures for February delivery fell 41 cents to $98.91 a barrel, off a two-month high of $99.40 reached in the previous session. For a full report, double click on (Compiled by Himank Sharma)
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.