New Zealand/Australia Morning Call-Global markets

Sun May 11, 2014 3:17pm EDT

-----------------------(07:15 / 1915 GMT)----------------------- Stock Markets S&P/ASX 200 5,460.84 -15.93 NZSX 50 5,152.67 -8.74 DJIA 16,583.34 +32.37 Nikkei 14,199.59 +35.81 NASDAQ 4,071.87 +20.37 FTSE 6,814.57 -24.68 S&P 500 1,878.48 +2.85 Hang Seng 21,862.99 +25.87 SPI 200 Fut 5,455.00 +0.00 TRJCRB Index 304.57 -1.58 Bonds AU 10 YR Bond 3.823 -0.007 US 10 YR Bond 2.623 +0.000 NZ 10 YR Bond 4.275 +0.000 US 30 YR Bond 3.465 +0.000 Currencies (Prev at 7pm NZST) AUD US$ 0.9360 0.9354 NZD US$ 0.8610 0.8644 EUR US$ 1.3757 1.3825 Yen US$ 101.84 101.70 Commodities Gold (Lon) 1291.25 Silver (Lon) 19.250 Gold (NY) 1289.02 Light Crude 99.99 ---------------------------------------------------------------- Overnight market action with latest New York figures.

EQUITIES

NEW YORK - The Dow ended at a record high on Friday, boosted by IBM, while a rebound in high-growth momentum names helped the broader market.

The Dow Jones industrial average rose 32.37 points or 0.2 percent, to 16,583.34, the S&P 500 gained 2.85 points or 0.15 percent, to 1,878.48 and the Nasdaq Composite added 20.374 points or 0.5 percent, to 4,071.869.

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LONDON - Britain's top share index slipped from a 10-week high on Friday, led lower by Petrofac, as a profit warning by the energy services group added to signs of poor corporate earnings that have kept the market's rally in check.

The broader FTSE 100 index closed down 24.68 points, or 0.4 percent, at 6,814.57 points. It had risen to a high of 6,840.37 on Thursday, its highest since late February.

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TOKYO - Japanese stocks rose on Friday in choppy trade as the likes of Mitsubishi Heavy Industries Ltd and Toshiba Corp gained on strong growth prospects, while concerns about the Ukraine crisis kept investors on edge.

The Nikkei stock average ended 0.3 percent higher at 14,199.59 after slipping in early trade. It shed 1.8 percent this week.

The broader Topix gained 0.5 percent to 1,165.51, while the new JPX-Nikkei Index 400 added 0.5 percent to 10,610.37.

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FOREIGN EXCHANGE

NEW YORK - The euro extended its sharp decline from a 2-1/2-year high against the dollar on Friday, a day after European Central Bank chief Mario Draghi did his best to sap the currency's strength by threatening more monetary stimulus.

The euro lost 0.67 percent to trade at $1.3747, more than 2 cents below highs reached on Thursday and its weakest level in a month. For the week, the euro is off 0.89 percent.

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TREASURIES

NEW YORK - U.S. Treasuries ended mixed on Friday despite substantial drag from a drooping 30-year long bond trying to find footing following an unexpectedly costly $16 billion government auction of new 30-year debt.

Yields on 30-year Treasuries, which posted strong returns in recent months amid rumors of steady buying by pension funds, stood at 3.47 percent, reflecting a price decline of 23/32 on Friday.

On Friday, other Treasuries were mostly little changed or flat in price. Ten-year Treasury notes yielded 2.6179 percent, reflecting a price decline of 4/32.

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COMMODITIES

GOLD

NEW YORK - Gold dropped on Friday, notching its second consecutive weekly drop, with selling triggered by a sharp rise in the U.S. dollar and analysts' expectation that the Federal Reserve could raise interest rates next year.

Spot gold was down 0.1 percent at $1,287.51 an ounce by 3:16 p.m. (1916 GMT). Solid support at its 100-day moving average of $1,287 an ounce kept gold from falling further, dealers said.

U.S. COMEX gold futures for June delivery settled down 10 cents an ounce at $1,287.60, with trading volume in line with its 30-day average, preliminary Reuters data showed.

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BASE METALS

LONDON - Nickel hit its highest price in more than two years on Friday as persistent fears of a shortage were compounded by a suspension of Vale's nickel operations in New Caledonia.

Three-month nickel on the London Metal Exchange (LME) surged 6 percent to a session high of $20,500, its highest level since late February 2012.

It later pared gains to close at $19,905 a tonne from Thursday's close of $19,400.

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OIL

NEW YORK - U.S. crude futures fell modestly in range-bound trade on Friday as the market balanced support from a drawdown in domestic crude stockpiles against technical sell points that have kept oil from rallying, while Brent was lower as traders awaited developments in the Ukraine crisis.

U.S. crude oil settled 27 cents down at $99.99 per barrel, and edged 0.24 percent higher over last week after U.S. government data on Wednesday showed crude supplies fell last week for the first time since late March, though overall supplies are still at record highs.

Brent futures fell 15 cents to settle $107.89 per barrel, and was on track to shed about half a percent over last week.

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