India Morning Call-Global Markets

Wed Jul 30, 2014 10:56pm EDT

Related Topics

EQUITIES

NEW YORK - The S&P 500 and Nasdaq ended higher on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.

The Dow Jones industrial average fell 31.75 points, or 0.19 percent, to 16,880.36, the S&P 500 gained 0.12 points, or 0.01 percent, to 1,970.07, and the Nasdaq Composite added 20.20 points, or 0.45 percent, to 4,462.90.

For a full report, click on

- - - -

LONDON - Britain's top equity index finished lower on Wednesday as weaker mining stocks, dragged down by Chilean miner Antofagasta, outweighed a rally in banking stocks spurred by Barclays.

The FTSE 100 index ended 0.5 percent weaker at 6,773.44 points.

For a full report, click on

- - - -

TOKYO - Japan's Nikkei share average rose to a fresh six-month high on Thursday after solid U.S. growth buoyed sentiment and as the weakening yen lifted exporters, while Sumitomo Mitsui Financial Group's 8316.T earnings boosted the banking sector.

The Nikkei rose 0.7 percent to 15,759.66 points in mid-morning trade, the highest since Jan. 23.

For a full report, click on

- - - -

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

For a full report, click on

- - - -

FOREIGN EXCHANGE

SYDNEY - The dollar held below a 10-month peak against a basket of major currencies on Thursday after soaring on upbeat U.S. growth data, with mixed views from the Federal Reserve tempering the rally.

The dollar index last traded at 81.386 after rising as far as 81.545 - a high last seen in mid-September.

For a full report, click on

- - - -

TREASURIES

NEW YORK - - U.S. Treasuries yields surged on Wednesday and two- and three-year note yields rose to their highest in three years after data showed solid U.S. economic growth, though the Federal Reserve said it is in no rush to raise interest rates.

The U.S. central bank pressed ahead with its plan to wind down its bond-buying stimulus and upgraded its assessment of the U.S. economy

For a full report, click on

- - - -

COMMODITIES

GOLD

SINGAPORE - Gold held overnight losses to trade below $1,300 an ounce on Thursday and looked likely to extend declines to a fourth day as optimism over U.S. economic growth curbed safe-haven appetite for the metal.

Spot gold was flat at $1,295.20 an ounce by 0021 GMT, after dropping 0.3 percent in the previous session.

For a full report, click on

- - - -

BASE METALS

SYDNEY - - London copper was underpinned on Thursday by indications that the U.S. Federal Reserve is not hurrying to raise interest rates, even as the world's top economy logged robust second quarter growth that brightened the outlook for demand.

The U.S. economy rebounded sharply in the second quarter as consumers stepped up spending and businesses restocked, putting it on course to close out the year on a solid footing.

For a full report, click on

- - - -

OIL

NEW YORK - - Oil prices tumbled on Wednesday, with Brent leading the decline weakened by excess supplies in Europe and Asia while U.S. crude followed suit despite a larger-than-expected drop in nationwide stockpiles.

Brent crude fell $1.21 to settle at $106.51 a barrel.

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

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.