India Morning Call-Global Markets

Thu Jun 19, 2014 10:44pm EDT

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EQUITIES

NEW YORK - The S&P 500 ended at another record high on Thursday, extending gains for a fifth day on investors' optimism that the Federal Reserve will keep interest rates low for a long period of time.

The Dow Jones industrial average rose 14.84 points or 0.09 percent, to end at 16,921.46. The S&P 500 gained 2.50 points or 0.13 percent, to close at 1,959.48. The Nasdaq Composite fell 3.51 points or 0.08 percent, to 4,359.33.

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LONDON - Britain's top share index climbed on Thursday to trade just below a record high, helped by a rally in aircraft engines maker Rolls-Royce and after the U.S. Federal Reserve reassured investors over monetary policy.

The blue-chip FTSE 100 ended 0.4 percent higher at 6,808.11 points, not far from a record 6,950.60 set in 1999.

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TOKYO - Japan's Nikkei share average was flat in choppy trade on Friday as investors booked profits from the previous day's rally, but the mood remained upbeat on lingering optimism the U.S. Federal Reserve will keep interest rates low for some time to come.

The Nikkei was flat at 15,360.63 in mid-morning trade after opening lower and flirting with positive territory.

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

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FOREIGN EXCHANGE

SYDNEY - The dollar remained under pressure on Friday but managed to win back some lost territory after upbeat U.S. data helped temper the fallout from the Federal Reserve's surprisingly dovish policy outlook.

Data offering more evidence the U.S. economy was recovering from a disastrous first quarter helped lift the dollar index to 80.256 from a one-month trough of 80.147. Still, it was down 0.25 percent on the week, its biggest decline in two months.

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TREASURIES

NEW YORK - U.S. Treasuries prices fell on Thursday after the government had to pay more to sell $7 billion in new 30-year Treasuries Inflation-Protected Securities (TIPS).

Prices also dropped as investors reworked positions, a day after the Federal Reserve struck a more dovish tone than expected at its June meeting.

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COMMODITIES

GOLD

SINGAPORE - Gold eased on Friday after posting its biggest one-day rise in nine months but the safe-haven metal was still trading near April highs and was on track to post its best week in two months, boosted by technical buying and geopolitical tensions.

Spot gold fell 0.4 percent to $1,314.30 an ounce by 0022 GMT, after jumping 3.3 percent in the previous session, when it hit mid-April highs of $1,321.70. The metal has gained about 3 percent for the week.

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BASE METALS

SYDNEY - London zinc futures climbed to their highest in 16 months on Friday and were set to post their biggest weekly gain this year, boosted by falling global supply.

Three-month zinc on the London Metal Exchange hit a high of $2,162.25 per tonne, its highest level since Feb. 20, 2013. It was up 0.4 percent at $2,161 by 0102 GMT and has gained 3.5 percent for the week.

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OIL

NEW YORK - Brent crude hit a nine-month high of more than $115 a barrel on Thursday as the United States said it would send military advisers to Iraq, raising concerns about the escalating conflict.

Brent rose 80 cents to $115.06 a barrel to settle at its highest since Sept. 9. It had reached a high of $115.71 earlier in the session

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