India Morning Call-Global markets

Mon Jan 6, 2014 10:12pm EST

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EQUITIES
    NEW YORK - U.S. stocks slipped on Monday after a mixed batch
of economic reports, which showed a slowdown in growth in the
U.S. services sector and a rebound in new orders for factory
goods.
    Two measures of activity in the services sector indicated
slower growth in December, indicating the economic recovery
remains modest, while a separate report showed factory orders
rose as expected in November. 
    - - - -
    LONDON - London-listed mining equities fell on Monday as new
signs of economic weakness in China, the world's top metals
consumer, prompted investors to dump resources shares at the
start of the first full week of 2014.
    The UK mining index fell 1.9 percent, the
biggest one-day drop in more than a month, after surveys showed
growth in Chinese service sector activity slowed in December,
mirroring the trend seen in manufacturing.
    For a full report, double click on 
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    TOKYO - Japan's Nikkei share average dropped on Tuesday
morning after economic data showing a slowdown in growth in the
U.S. services sector made investors wary of taking on risk.
    The Nikkei fell 0.6 percent to 15,807.86 in choppy
mid-morning trade. After opening lower, it briefly flirted with
positive territory. On Monday, the index ended 2.4 percent
lower.
    For a full report, double click on 
    - - - -
    HONG KONG - Hong Kong's Hang Seng index to open flat.
 
    - - - -
    FOREIGN EXCHANGE
    SYDNEY - The yen firmed across the board early in Asia on
Tuesday as investors took aim at the greenback in the wake of
disappointing U.S. data, although many currencies remained in
familiar ranges in still thin market conditions.
    Trading is usually lacklustre in the first full trading week
of the year as investors trickle back to their desks, with
position adjustments dominating trade. That helped give some
support to the yen, the worst performing major currency in 2013
due to Japan's ultra-loose monetary policy.
    For a full report, double click on 
    - - - -
    TREASURIES
    NEW YORK - U.S. Treasuries prices rose on Monday after
weaker-than-expected data on the U.S. services sector raised
hopes the Federal Reserve would slow its reduction of bond
purchases, spurring bids for government debt.
    The early 2014 losses on Wall Street after its stellar run
last year rekindled some safe-haven appetite for U.S. government
debt, analysts and traders said.
    For a full report, double click on 
    - - - -
    COMMODITIES
    GOLD
    SINGAPORE - Gold held its ground near a three-week high on
Tuesday as weaker equities and robust physical demand in China
supported prices, while U.S. gold futures also steadied after
unusually sharp movements the session before.
    Spot gold was little changed at $1,237.19 an ounce by
0010 GMT. 
    For a full report, double click on 
    - - - -
    BASE METALS
    SYDNEY - London copper was little changed on Tuesday, mired
near two-week lows as worries about cooling economic growth in
top metals consumer China crimped expectations of demand.
    Three-month copper on the London Metal Exchange was
little changed at $7,328.25 a tonne by 0119 GMT from the
previous session when it sank to a near two-week low of
$7,278.75 a tonne. 
    For a full report, double click on 
    - - - - 
    OIL
    NEW YORK - Oil prices seesawed on Monday, ending the session
slightly lower, as traders weighed reports of production
resuming at a Libyan oilfield against new threats to shipments
from a port controlled by protesters.
    Brent and U.S. crude dipped on a day of mixed messages,
including a shipping drama off Libya's shore and a deep freeze
across the United States that threatens to disrupt oil
production but also curtail demand.
   For a full report, double click on 

 (Compiled by Abhishek Vishnoi)
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