India Morning Call-Global Markets

MUMBAI, April 16 Tue Apr 15, 2014 11:01pm EDT

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MUMBAI, April 16 (Reuters) -

EQUITIES

NEW YORK - U.S. stocks ended a volatile session higher on Tuesday, lifted by gains in such blue-chip names as Coca-Cola and Johnson & Johnson, though persistent weakness in momentum names limited the Nasdaq's advance.

Coke and J&J, both Dow components, climbed after their results while recent outperformers fell, a sign that investors were rotating from growth stocks into value ones. In recent weeks, high-growth stocks have been under pressure after a meteoric rise in their prices took valuations to levels that appeared unsustainable.

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LONDON - Britain's top share index edged down in cautious trading on Tuesday, led down by miners on concerns about rising supply and slowing demand for metals, with poor retail sales data also weighing on the market.

The UK mining index fell 1.2 percent, the biggest sectoral decliner, as prices of major industrial metals fell 0.6 to 2.8 percent. Copper fell further on worries that increased supplies and slowing growth in China would hurt demand in the world's biggest metals-consuming country.

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TOKYO - Japan's Nikkei share average rose on Wednesday after a better performance on Wall Street overnight, with index heavyweight SoftBank soaring after a strong earnings report from its Chinese e-commerce affiliate Alibaba Group Holding Ltd.

The Nikkei share average rose 1.8 percent to 14,246.65, extending its rebound from a six-month low around 13,885 hit earlier this month. The benchmark suffered its worst weekly performance in three years last week

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HONG KONG - Hang Seng Index set to open up 0.1 percent.

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FOREIGN EXCHANGE

SYDNEY - Commodity currencies nursed heavy losses early on Wednesday, while the other major currencies struggled for clear direction as investors kept a nervous eye on developments in Ukraine and ahead of a slew of Chinese economic data.

The market is braced for China to report its slowest growth in five years in the first quarter at a time when Beijing appears to be resisting pressure to inject fresh stimulus into the economy

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TREASURIES

NEW YORK - U.S. Treasury debt prices gained on Tuesday as rising tensions in Ukraine sparked a safety bid for U.S. bonds, and a weak manufacturing survey for New York state pointed to sluggish economic momentum.

Geopolitical tensions were high as Russia declared Ukraine on the brink of civil war on Tuesday as Kiev said an "anti-terrorist operation" against pro-Moscow separatists was under way, with troops and armored personnel carriers seen near a flashpoint eastern town

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COMMODITIES

GOLD

SINGAPORE - Gold was struggling near $1,300 an ounce on Wednesday, after sliding overnight on technical selling and fears of slackening demand in top consumer China.

The metal's losses come despite heightened geopolitical tensions in Ukraine. Safe-haven bids for gold failed to emerge even after Kiev began an operation against separatist militia in the Russian-speaking east.

Spot gold was steady at $1,303.25 an ounce by 0027 GMT, after closing down 1.8 percent on Tuesday. At one point it fell to a low of $1,290.34..

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BASE METALS

SINGAPORE - London copper rose around half a percent on Wednesday to recoup some of last session's losses, but trading was subdued ahead of Chinese data that could show the extent of slowdown in the world's top consumer of industrial metals.

Nickel was largely unchanged after falling from its highest in 14 months in the last session.

Three-month copper on the London Metal Exchange had added 0.4 percent to $6,566.50 a tonne by 0100 GMT. The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 lost 1 percent to 46,120 yuan a tonne.

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OIL

NEW YORK - Benchmark Brent oil rose slightly on Tuesday after news that Ukrainian armed forces launched military operations in the east of the country, though gains were limited by the prospect of a resumption of oil exports from Libya.

Russia declared Ukraine on the brink of civil war as Kiev began a "special operation" against pro-Russian separatists in the eastern town of Kramatorsk and retook a main airfield there.

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