India Morning Call-Global Markets

MUMBAI, July 22 Mon Jul 21, 2014 11:02pm EDT

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MUMBAI, July 22 (Reuters) - EQUITIES

NEW YORK - U.S. stocks slipped on Monday as investors remained cautious about instability in Ukraine and Gaza, though the three major indexes ended well off their lows, a sign that some appetite for riskier assets remained.

The Dow Jones industrial average fell 48.45 points or 0.28 percent, to end at 17,051.73. The S&P 500 declined 4.59 points or 0.23 percent, to finish at 1,973.63. The Nasdaq Composite dropped 7.44 points or 0.17 percent, to close at 4,424.70.

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LONDON - Britain's top share index fell on Monday, with tobacco stocks hit by a multi-billion-dollar fine against RJ Reynolds in the United States and retailers slipping after a profit warning from Tesco.

The blue-chip FTSE 100 index ended 0.3 percent lower at 6,728.44 points, with tobacco stocks, retailers and energy shares among the top decliners.

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TOKYO - Japan's Nikkei share average rose on Tuesday morning after a three-day weekend, with exporters pulling ahead as the strong yen trend paused although geopolitical concerns checked the upside.

The Nikkei gained 0.7 percent to 15,314.20 in mid-morning trade as investors returned after Monday's holiday.

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HONG KONG - Hang Seng Index set to open up 0.3 percent.

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FOREIGN EXCHANGE

SYDNEY - The dollar stood little changed and confined to a narrow range against the euro and yen on Tuesday, as currencies lost some momentum on a slight reduction in geopolitically-inspired risk aversion.

The dollar crept up 0.1 percent to 101.48 yen, having pulled back from a low of 101.09 hit late last week when a Malaysian airliner was downed over Ukraine and an Israeli ground offensive in Gaza began.

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TREASURIES

NEW YORK - U.S. long-term Treasury debt prices rose on Monday on safe-haven demand increased by investors' caution over turmoil in the Middle East and growing geopolitical tension following the downing of a Malaysian Airlines aircraft in Ukraine.

U.S. 30-year bond yields, which move inversely with prices, fell to their lowest in more than a year.

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COMMODITIES

GOLD

SINGAPORE - Gold stabilised near $1,310 an ounce on Tuesday as escalating tensions over conflicts in Ukraine and the Gaza strip dented global risk appetite and burnished the metal's safe-haven appeal.

Spot gold was little changed at $1,311.16 an ounce by 0009 GMT, after ending flat in the previous session.

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BASE METALS

SYDNEY - London zinc stretched its gains into a second session and hit its highest in almost three years on Tuesday while aluminium held near a 16-month peak as investors bought metals amid supply constraints and a brighter global growth outlook.

Three month zinc on the London Metal Exchange inched up to $2,345.75 a tonne by 0045 GMT, highest since August 2011. Prices have climbed by more than 14 percent this year.

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OIL

NEW YORK - Oil prices rose on Monday as the threat of escalating tension between Russia and the West over the crisis in Ukraine mounted, while August U.S. crude zoomed higher prior to its expiry.

September Brent gained 44 cents to settle at $107.68 a barrel.

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