India Morning Call-Global Markets

Mon Jan 20, 2014 10:12pm EST

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EQUITIES

NEW YORK - The S&P 500 and Nasdaq declined on Friday as results from Intel and General Electric GE.N were the latest to dampen the view on fourth-quarter earnings.

Volatility picked up late in the session, thanks in part to selling related to options expiration, analysts said.

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LONDON - Britain's FTSE 100 stalled near an eight-month high on Monday, held back by weak banking shares as a surprise loss at Germany's Deutsche Bank was seen as a bad omen for UK lenders' results.

Britain's main share index, however, was expected to resume its uptrend soon and hit highs not seen since 1999, boosted by a continued flow of money into European shares as the region's economy improves.

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TOKYO - The Nikkei average rose more than 1 percent on Tuesday morning after three days of losses, as investors bought back stocks on expectations that Japanese corporate earnings will be strong.

A weaker yen, always a key catalyst for the Japanese market, also supported sentiment and lifted currency-sensitive exporters like Toyota Motor Corp.

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HONG KONG - Hong Kong's Hang Seng to open 0.5 percent higher.

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FOREIGN EXCHANGE

SYDNEY - The New Zealand dollar shot out of the starting block early on Tuesday after inflation data strengthened the case for higher interest rates at home, leaving behind many of its major peers that are still struggling for inspiration.

The kiwi dollar rallied over half a U.S. cent to $0.8340 NZD=D4 after fourth-quarter consumer price index rose 0.1 percent, confounding forecasts for a 0.1 percent fall.

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TREASURIES

NEW YORK - U.S. Treasuries prices rose on Friday as economic data was largely as expected and as trading volumes were light before a long holiday weekend.

The bonds have held in a relatively tight range this week, after a weaker-than-expected employment report last Friday led benchmark 10-year yields to fall from the near the 3 percent level to a range between 2.82 percent and 2.92 percent.

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COMMODITIES

GOLD

SINGAPORE - Gold was just below a six-week high on Tuesday amid subdued activity in the stock markets and on the data front, while platinum was near the strongest in 2-1/2 months as strikes were set to begin this week at the top producers.

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BASE METALS

SYDNEY - London copper was steady on Tuesday with buying contained due to seasonally slow demand in top consumer China and a port strike in Chile exacerbating a shortage of the metal.

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OIL

NEW YORK - Brent crude dipped below $106 per barrel on Monday, weighed by data showing China's oil demand growth slowed further in 2013 and by news Iran had started implementing a nuclear deal with world powers, which could eventually allow more oil exports.

Implied oil demand in China, the world's second-biggest oil consumer, rose just 1.6 percent last year, or 150,000 bpd on the year, according to Reuters calculations based on preliminary government data and unrevised 2012 figures.

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