India Morning Call-Global Markets

MUMBAI Mon Feb 10, 2014 10:13pm EST

Related Topics

MUMBAI Feb 11 (Reuters) - EQUITIES

NEW YORK - U.S. stocks ended with modest gains on Monday as investors digested recent market gains and looked ahead to new Federal Reserve Chair Janet Yellen's first testimony before lawmakers.

The Nasdaq was boosted by strength in large-cap tech and pharma names, but most market participants took a wait-and-see attitude ahead of the testimony, looking for confirmation that the Fed would not change its schedule for ending its support for the economy.

For a full report, double click on

- - - -

LONDON - Fresh political pressure on British utilities hit the sector's stocks on Monday, limiting broader gains in the UK's top equity index although it rose for the fourth straight session.

The blue-chip FTSE 100 .FTSE index closed up by 0.3 percent, or 19.87 points, at 6,591.55 points.

For a full report, double click on

- - - -

TOKYO - Japanese markets are closed on Tuesday for National Foundation Day.

On Monday, the Nikkei share average rose to a one-week high as a softer yen underpinned sentiment, with index-heavyweight stocks as SoftBank Corp 9984.T leading the gains.

For a full report, double click on

- - - -

HONG KONG - Hang Seng Index set to open up 0.2 percent.

For a full report, double click on

- - - -

FOREIGN EXCHANGE

SYDNEY - The dollar wallowed near a two-week low against a basket of major currencies early on Tuesday, following a subdued U.S. session trade as markets hunkered down ahead of congressional testimony by new Federal Reserve Chief Janet Yellen.

The dollar index .DXY last traded at 80.640, having inched down overnight to 80.590, a low not seen since Jan. 30. Against the yen, the dollar eased to 102.21 JPY= from a one-week high of 102.65.

For a full report, double click on

- - - -

TREASURIES

NEW YORK - U.S. Treasury debt prices were little changed to slightly lower on Monday in thin trading, after a rally the previous session on a weaker-than-expected U.S. non-farm payrolls report, with investors bracing for this week's heavy supply on the long end.

Markets are also awaiting the first testimony of Federal Reserve Chair Janet Yellen, who testifies in Congress on Tuesday and Thursday after a second month of weaker-than-expected U.S. jobs data.

For a full report, double click on

- - - -

COMMODITIES

GOLD

SINGAPORE - Gold was trading near its highest in two weeks on Tuesday ahead of Congressional testimony by the new chief of the Federal Reserve, on hopes that the U.S. central bank may rethink the pace of its stimulus tapering.

For a full report, double click on

- - - -

BASE METALS

SYDNEY - Shanghai copper slid to its lowest in more than two months on Tuesday, with factories in the top metals user ramping up only slowly after the Lunar new year break, curbing consumer demand. London copper was steady, ahead of a debut speech by Federal Reserve chair Janet Yellen that will be scoured for fresh signals over the central bank's monetary policy.

For a full report, double click on

- - - -

OIL

NEW YORK - Brent oil fell by nearly $1 per barrel on Monday, pressured by sinking heating oil prices as the market looked toward the end of a long and frigid winter and as supplies increased from Libya and the North Sea.

For a full report, double click on (Compiled by Indulal PM)

FILED UNDER: