India Morning Call-Global Markets

Mon Jul 14, 2014 10:51pm EDT

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EQUITIES

NEW YORK - U.S. stocks ended higher on Monday, with the Dow Jones industrial average hitting an intraday record, lifted by Citigroup's better-than-expected earnings and more deals in the healthcare space.

The Dow Jones industrial average rose 111.61 points or 0.66 percent, to end at 17,055.42. The S&P 500 gained 9.53 points or 0.48 percent, to 1,977.10. The Nasdaq Composite added 24.93 points or 0.56 percent, to 4,440.42.

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LONDON - Britain's top equity index rose for a second straight day in thin trade on Monday, helped by rises in bid-target drugs firm Shire and retailer Sports Direct .

The FTSE 100 ended up 55.97 points, or 0.8 percent, at 6,746.14 points after trading as high as 6,760.73 points.

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TOKYO - Japan's Nikkei share average climbed on Tuesday with all sectors rising, helped by gains on Wall Street on Citigroup's strong earnings and a merger and acquisition deal in the healthcare industry.

The Nikkei gained 0.9 percent to 15,432.65 points by mid-morning after rising as high as 15,441.54, the highest since July 7.

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HONG KONG - Hang Seng Index set to open up 0.6 percent.

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FOREIGN EXCHANGE

SYDNEY - The dollar remained frozen in recent ranges in Asia on Tuesday, as investors awaited Federal Reserve Chair Janet Yellen's congressional testimony later in the session for signals to when U.S. interest rates might head higher.

The dollar was flat on the day against the yen at 101.54 yen , remaining well off last week's seven-week low of 101.06 yen. The euro was also steady at 138.30 yen, solidly above last week's five-month low of 137.50 yen.

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TREASURIES

NEW YORK - U.S. Treasuries prices edged lower on Monday on expectations that Federal Reserve Chair Janet Yellen could take a less accommodative stance on interest rates in a congressional testimony on Tuesday.

Yellen, who will go before the Senate Banking Committee Tuesday to deliver the latest report to Congress on monetary policy, could take a hawkish stance on raising interest rates in response to strong June jobs data, analysts and investors said.

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COMMODITIES

GOLD

SINGAPORE - Gold was trading close to its lowest in nearly four weeks on Tuesday, struggling to get past sharp overnight losses from profit-taking and hurt by stronger global equities that dented its safe-haven appeal.

Spot gold was little changed at $1,307.56 an ounce by 0032 GMT, after sliding 2.3 percent on Monday - the metal's biggest one-day drop since December.

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BASE METALS

SYDNEY - London zinc was steady on Tuesday as traders took profits after a four-session winning streak that pushed prices to near three-year highs on prospects of falling supply, while London copper steadied, as tight supply supported prices.

Three month zinc on the London Metal Exchange edged up 0.2 percent to $2,303 a tonne on Tuesday, having struck the highest since August 2011 at $2,325.50 on Monday.

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OIL

NEW YORK - Oil prices ended slightly higher on Monday as traders weighed renewed violence in Libya against broader signs of a global market well-supplied with crude.

Brent crude gained 32 cents to settle at $106.98 A barrel. It had dropped to $106.21 earlier in the session, the lowest intraday price since April.

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