India Morning Call-Global Markets

MUMBAI Wed May 7, 2014 10:52pm EDT

Related Topics

MUMBAI May 8 (Reuters) - EQUITIES

NEW YORK - U.S. stocks mostly rose on Wednesday after comments from Federal Reserve Chair Janet Yellen signalled continued support for the economy, but the Nasdaq fell for a second session as momentum names sold off.

The Dow Jones industrial average rose 117.52 points, or 0.72 percent, to close at 16,518.54. The S&P 500 gained 10.49 points, or 0.56 percent, to end at 1,878.21. The Nasdaq Composite dropped 13.085 points, or 0.32 percent, to finish at 4,067.673.

For a full report, double click on

- - - -

LONDON - Britain's top equity index made little progress on Wednesday, as a fall in the shares of HSBC bank and credit data firm Experian added to signs of weak corporate earnings that have stalled the market's rally.

The blue-chip FTSE 100 index closed down by 2.12 points - flat in percentage terms - at 6,796.44 points. The index reached a two-month closing high last Friday after five straight days of gains but has since stalled after that move up.

For a full report, double click on

- - - -

TOKYO - Japan's Nikkei share average rose on Thursday, recovering from a three-week low hit the previous day after comments by the U.S. Federal Reserve chief helped investor sentiment, but Nintendo slid after posting a wider-than-expected loss.

Nintendo Co fell 5.6 percent to 10,070 yen, its lowest since June 2013, after posting a 46.4 billion yen ($456 million) operating loss for the year ended in March. That was bigger than its previous projection of a 35 billion yen loss, due to dismal Wii U sales.

For a full report, double click on

- - - -

HONG KONG - Hang Seng Index set to open up 0.3 percent.

For a full report, double click on

- - - -

FOREIGN EXCHANGE

SYDNEY - The euro stepped back from a near two-month high against the dollar early on Thursday ahead of an interest rate review by the European Central Bank, while the greenback found a steadier footing after this week's surprisingly large pullback.

The euro last traded at $1.3911, down from a near two-month peak of $1.3952 set on Tuesday. The dollar also recouped a bit of ground against the yen, edging up to 101.88 from a three-week trough of 101.43.

For a full report, double click on

- - - -

TREASURIES

NEW YORK - U.S. Treasuries gained on Wednesday after America's top central banker said the world's largest economy remained on the mend but still required substantial monetary accommodation from Washington policymakers.

Federal Reserve Chair Janet Yellen told a congressional committee that, while America's labor markets had shown "appreciable" improvements, the U.S. expansion faced hurdles in a weak housing sector and from risks from geopolitical tensions.

For a full report, double click on

- - - -

COMMODITIES

GOLD

SINGAPORE - Gold was trading below $1,300 an ounce on Thursday, steadying at weaker levels after a fall of more than 1 percent in the previous session, when its safe-haven appeal dimmed on signs of easing tensions in Ukraine.

Spot gold edged up 0.1 percent to $1,290.53 an ounce by 0022 GMT, after losing 1.4 percent on Wednesday. U.S. gold GCcv1 also stabilized after a similar drop overnight.

For a full report, double click on

- - - -

BASE METALS

SYDNEY - London nickel pushed to hits highest in 19 months on Thursday amid heightened supply concerns as Vale halted processing at its Goro nickel plant in New Caledonia, adding to concerns over Indonesian and Russian supply.

Three-month nickel was trading up 0.8 percent at $18,790 a tonne by 0145 GMT, having earlier touched $18,849 a tonne - its highest since October 2012.

For a full report, double click on

- - - -

OIL

NEW YORK - Global oil prices rose by more than $1 a barrel on both sides of the Atlantic on Wednesday as an unexpected drop in United States inventories supported U.S. crude and escalating tensions in Libya pushed Brent higher.

The U.S. Energy Information Administration said U.S. crude inventories fell 1.8 million barrels last week, compared with analyst' forecasts for a 1.4-million-barrel build. Stocks fell 1.4 million barrels at the Cushing, Oklahoma, delivery point of the U.S. futures contract, to their lowest since 2008.

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

FILED UNDER: