India Morning Call-Global Markets

MUMBAI Thu Feb 13, 2014 9:58pm EST

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MUMBAI Feb 14 (Reuters) - EQUITIES

NEW YORK - U.S. stocks closed higher on Thursday, with the Nasdaq rising for a sixth straight day, as investors looked past disappointing data on consumer spending, chalking the weakness up to weather instead of weaker fundamentals.

The Nasdaq is up about 5.7 percent over the past six sessions, its best six-day advance since December 2011. Both the Dow and S&P 500 rose for the fifth session out of the last six.

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LONDON - Britain's top share index fell on Thursday after six straight days of gains, its longest rising streak of the year, led down by food ingredients firm Tate & Lyle and engineer Rolls Royce, which gave disappointing outlooks.

Tate & Lyle lost most in percentage terms, down 16.1 percent after it scaled back its full-year outlook, citing weak sales volume in developed markets.

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TOKYO - Japan's Nikkei share average rose on Friday morning, tracking gains on Wall Street as investors shrugged off weak U.S. data and stayed optimistic over the long-term economic outlook.

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HONG KONG - Hang Seng Index set to open up 1 percent.

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FOREIGN EXCHANGE

SYDNEY - The U.S. dollar was pinned at three-week lows against a basket of major currencies on Friday after disappointingly soft U.S. data dealt a blow to the already struggling greenback.

The Euro brushed off news that Italy's prime minister would resign, instead focusing on the euro zone's GDP data due later in the day for near term direction.

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TREASURIES

NEW YORK - U.S. Treasury debt prices advanced on Thursday after two days of losses as weaker-than expected economic data rekindled the view that the Federal Reserve could pause in reducing its asset purchases.

Yields on U.S. 10-year notes and 30-year bonds fell to session lows after U.S. jobless claims and retail sales data came in weaker than market expectations.

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COMMODITIES

GOLD

SINGAPORE - Spot gold was holding gains near $1,300 an ounce on Friday and looked set to post its biggest weekly gain since October as more weak U.S. data raised fears about economic growth, burnishing the metal's appeal as a safe-haven.

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BASE METALS

SYDNEY - London copper climbed on Friday, underpinned by a weaker dollar and returning Chinese demand, shrugging off signs of a soft patch in the world's top economy after a bitter winter chilled retail sales in the United States.

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OIL

NEW YORK - Brent crude oil futures prices edged lower on Thursday, pressured by a forecast dip in demand during refinery maintenance season and a rise in jobless claims in the United States, the world's largest oil consumer.

The poor jobless data was compounded by weak U.S. retail sales data suggesting that consumers used their money toward heating fuel this year amid a record cold winter. The data pressured the U.S. stock market and weighed on oil prices.

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