India Morning Call-Global Markets

Wed Mar 5, 2014 9:43pm EST

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EQUITIES
    NEW YORK - The S&P 500 finished almost flat on Wednesday, a
day after closing at an all-time high, as investors shrugged off
soft data on jobs and the services sector while keeping an eye
on developments in Ukraine.
    The market showed little reaction to the Federal Reserve's
Beige Book, which said severe weather across much of the United
States took a toll on shopping and consumer spending in recent
weeks. That led to slower economic growth or output in some
areas of the country, according to the Fed's report of anecdotal
information on the U.S. economy
    For a full report, double click on 
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    LONDON - Britain's top share index fell again on Wednesday
after rebounding from two-week lows in the previous session,
with updates from some companies disappointing investors and
tensions over Ukraine weighing on sentiment.
    Engineering turnaround specialist Melrose fell 7.8
percent, the top decliner on the FTSE 100 index, after
warning of challenging market conditions and saying sales growth
in 2014 would not be easy to achieve. 
    For a full report, double click on 
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    TOKYO - Japan's Nikkei share average was steady on Thursday
morning after rising to a one-week high the previous day, but
trading was subdued with investors on the sidelines before the
release of U.S. jobs data on Friday.
    In a peek at Friday's job numbers, payroll processor ADP
said U.S. private-sector employers added fewer workers than
expected in February, and the Institute for Supply Management
showed services sector growth slowed in February, although soft
data has been largely dismissed by the market and blamed on the
weather. 
    For a full report, double click on 
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    HONG KONG - Hang Seng Index set to open flat.
    For a full report, double click on 
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    FOREIGN EXCHANGE
    SYDNEY - The euro stayed on the defensive early on Thursday,
having lost ground against many of its peers as investors made
short shrift of the common currency ahead of possible policy
easing by the European Central Bank.
    Market concerns about Ukraine continued to simmer in the
background with high-level diplomatic efforts to resolve the
crisis making little apparent headway so far. 
    For a full report, double click on 
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    TREASURIES
    NEW YORK - U.S. Treasury debt prices were flat on Wednesday
as weather-clouded data sidelined investors and tensions in
Ukraine calmed.
    Yields held steady after a rally on Monday and a sell-off on
Tuesday as the European Union offered $15 billion and the United
States offered $1 billion in financial support to Ukraine, which
has been embroiled in a conflict with Russia. 
    For a full report, double click on 
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    COMMODITIES
    GOLD
    SINGAPORE - Gold was trading in a tight range on Thursday,
supported near $1,335 an ounce by weak U.S. data, with investors
waiting for developments in the Ukraine geopolitical crisis and
a key jobs report for further cues.
    Spot gold was trading nearly flat at $1,336.66 an
ounce by 0020 GMT, after rising slightly by 0.2 percent in the
previous session. 
    For a full report, double click on 
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    BASE METALS
    JAKARTA - Copper held steady on Thursday as worries over the
crisis in Ukraine eased, but with any gains capped as China
committed to reducing its pace of investment to a decade-low.
    Three-month copper on the London Metal Exchange had
edged down to $7,030 a tonne by 1855 GMT. Copper hit its highest
since March 26 at $7,068 a tonne on Tuesday, rebounding from
three-month lows below $7,000 last week. 
    For a full report, double click on 
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    OIL
    NEW YORK - Oil prices slid nearly $2 per barrel on Wednesday
as U.S. government data reflected weaker oil demand as Europe
and the United States head into spring and refiners move into
maintenance season.
    Prices also dropped as traders sold off the geopolitical
risk premium accrued on Monday on fears of escalating tension in
Ukraine. Those fears mostly subsided by Wednesday as U.S.
Secretary of State John Kerry said the related parties agreed to
resolve tensions through dialogue
    For a full report, double click on 

 (Compiled by Abhishek Vishnoi)
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