India Morning Call-Global Markets

Mon May 12, 2014 10:38pm EDT

Related Topics

EQUITIES

NEW YORK - The Dow and the S&P 500 ended at record highs on Monday while the Nasdaq rallied as shares of Internet and biotech shares advanced.

The Dow Jones industrial average gained 112.13 points or 0.68 percent, to 16,695.47, a record closing high. The Dow also hit an intraday record high of 16,704.84. The S&P 500 rose 18.17 points or 0.97 percent, to 1,896.65, also a record closing high. The Nasdaq Composite climbed 71.99 points or 1.77 percent, to 4,143.859.

For a full report, double click on

- - - -

LONDON - A rise in heavyweight mining stocks lifted Britain's top equity index on Monday back towards its highest level since early 2000.

The blue-chip FTSE 100 index closed 0.6 percent or 37.18 points higher at 6,851.75 points - within touching distance of a peak of 6,867.42 reached in January, which was close to its highest levels since early 2000.

For a full report, double click on

- - - -

TOKYO - Japanese stocks jumped on Tuesday as a weaker yen and a record close on Wall Street boosted investor sentiment, while Nissan Motor and Sharp gained on hopes that their perceived conservative forecasts suggested more upside to their earnings.

The benchmark Nikkei share average was up 1.8 percent at 14,405.06 in midmorning trade, trading above its 25-day moving average for the first time since April 25.

For a full report, double click on

- - - -

HONG KONG - Hang Seng Index set to open up 0.8 percent.

For a full report, double click on

- - - -

FOREIGN EXCHANGE

SYDNEY - The euro stabilised near one-month lows against the dollar on Tuesday, although it remains under pressure as investors expect the European Central Bank to try to limit its longer-term strength in a bid to boost the euro-zone economy.

The euro fetched $1.3755, near its one-month low of $1.3745 hit on Friday, having fallen 1.2 percent since ECB chief Mario Draghi said the bank was ready to take action next month to lift economic growth.

For a full report, double click on

- - - -

TREASURIES

NEW YORK - U.S. Treasuries prices fell on Monday before a heavy week of data, including retail sales and inflation reports, which will be watched for signs of economic strength and whether price pressures are rising from levels that are far below the Federal Reserve's targets.

Government debt yields rose last week as the Treasury sold new supply and demand for Thursday's sale of 30-year bonds was muted, with price losses extending through to Monday as dealers sold bonds they absorbed during the auctions.

For a full report, double click on

- - - -

COMMODITIES

GOLD

SINGAPORE - Gold held on to overnight gains on Tuesday as simmering tensions in Ukraine stoked its safe-haven appeal, but the metal was at risk of falling back on weak physical demand and bullion-fund outflows.

Spot gold was little changed at $1,295.40 an ounce by 0013 GMT, after gaining 0.5 percent on Monday. The metal traded in a wide range in the previous session, climbing at one point to $1,303.80 before giving back some gains.

For a full report, double click on

- - - -

BASE METALS

SYDNEY - London nickel tore higher on Tuesday, hitting a 27-month peak on fears of a worsening supply shortfall, while Shanghai copper rallied 2 percent as some investors covered short positions due to tight local supply.

Three-month nickel on the London Metal Exchange surged to $21,625 a tonne - its highest since February 2012. That brought gains in the past week alone to almost 17 percent, while the rise so far this year stands at about 55 percent.

For a full report, double click on

- - - -

OIL

NEW YORK - Crude oil futures rose on Monday as tensions in Ukraine prompted the European Union to widen sanctions, while Russia reiterated that it could cut off Kiev's natural gas supplies.

Russia's state-owned Gazprom said that unless Kiev pre-paid for the next month's natural gas deliveries by June 2, it would disrupt or reduce supplies.

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

FILED UNDER: