India Morning Call-Global Markets

Thu Jun 26, 2014 10:57pm EDT

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EQUITIES

NEW YORK - U.S. stocks ended slightly lower on Thursday after the president of the Federal Reserve Bank of St. Louis said interest-rate increases should come sooner rather than later.

The Dow Jones industrial average fell 21.38 points or 0.13 percent, to end at 16,846.13. The S&P 500 slipped 2.31 points or 0.12 percent, to 1,957.22. The Nasdaq Composite dipped 0.71 of a point or 0.02 percent, to 4,379.05

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LONDON - Britain's top share index ended flat on Thursday as a rally in housebuilders on Bank of England comments was offset by a fall in banks, including Barclays after it was hit by a lawsuit from the New York Attorney General.

The FTSE 100 ended flat at 6,735.12 points, as gains in housebuilders were counterbalanced by a sharp decline in shares of some major banks.

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TOKYO - Japan's Nikkei share average slipped on Friday as concerns about U.S. economic growth hurt sentiment and as the stronger yen pulled down exporters.

The Nikkei dropped 0.6 percent to 15,216.73 points by late morning, but still not so far from a five-month high of 15,442.67 marked early this week.

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HONG KONG - Hang Seng Index set to open up flat.

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FOREIGN EXCHANGE

SYDNEY - The New Zealand dollar hovered at its highest in nearly three years early on Friday, having taken on a starring role in a subdued currency market as investors sought higher-yielding currencies.

The kiwi rose as far as $0.8790, a high not seen since early August 2011, before edging back to $0.8780. It was near a post-float high of $0.8842.

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TREASURIES

NEW YORK - U.S. Treasuries yields dropped on Thursday as traders eyeing a possible slowing of American economic growth drove up prices for a fourth straight day.

Yields of 10- and 30-year Treasuries touched three-week lows as investors, already surprised on Wednesday by data showing the U.S. economy contracted more than previously thought in the first quarter, reacted to data showing short-of-forecast increases in U.S. consumer spending.

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COMMODITIES

GOLD

SINGAPORE - Gold was little changed early in Asian trading on Friday but looked likely to fall as concerns grew over weak physical demand and discovery of $15 billion of loans tied to falsified gold deals in top consumer China.

Spot gold was flat at $1,316.54 an ounce by 0029 GMT, after losing 0.1 percent in the previous session.

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BASE METALS

SYDNEY - London copper on Friday remained on track to post small gains for the second month in a row, underpinned by a shortfall in supply that has helped push prices close to their highest since early March.

Three-month copper on the London Metal Exchange had eased 0.3 percent to $6,934 a tonne by 0130 GMT, after small gains in the previous session.

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OIL

NEW YORK - Crude oil on both sides of the Atlantic fell on Thursday as fears eased over export disruptions from war-ravaged Iraq, allowing market participants to take some profit off the table.

Brent crude lost 79 cents to settle at $113.21, its lowest settlement since June 16. U.S. crude lost 66 cents to settle at $105.84, the lowest settlement since June 11.

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