April 9, 2014 / 2:57 AM / 3 years ago

India Morning Call-Global Markets

MUMBAI, April 9 (Reuters) -

EQUITIES

NEW YORK - U.S. stocks rose on Tuesday, snapping a three-day losing streak as investors bought beaten-down social media and Internet shares.

The Dow Jones industrial average rose 10.27 points or 0.06 percent, to end at 16,256.14. The S&P 500 gained 6.92 points or 0.38 percent, to finish at 1,851.96. The Nasdaq Composite added 33.234 points or 0.81 percent, to close at 4,112.986.

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LONDON - Britain's top share index hit a two-week low on Tuesday, led by Sports Direct after its founder sold a chunk of shares in the company, and financials lost ground due to concerns about valuations and earnings.

Sports Direct was the worst-performing FTSE 100 stock in percentage terms, falling by 10.7 percent after founder Mike Ashley sold 25 million shares.

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TOKYO - Japan's Nikkei share average hit a two-week low on Wednesday morning after Bank of Japan Governor Haruhiko Kuroda's comments the previous day raised doubts over whether the BOJ will ease its policy stance anytime soon, sending the yen higher.

The benchmark Nikkei shed 1.5 percent to 14,391.13, its lowest level since March 27, falling below its 200-day moving average of 14,589.51. The index lost 3.1 percent in the last three sessions and down nearly 12 percent this year.

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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 languished at three-week lows against a basket of major currencies on Wednesday, having broken decisively lower as the yen squeezed higher and even the euro gained a tailwind.

Traders said the moves were sparked in part by comments from the Bank of Japan on Tuesday that dismissed any need for additional stimulus. Recent remarks from European Central Bank officials have also suggested no urgency for any immediate policy action.

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TREASURIES

NEW YORK - U.S. Treasuries prices rose on Tuesday after the government sold $30 billion in new three-year notes to better-than-average demand, and as investors looked ahead to the release of the minutes from the Federal Reserve's March meeting on Wednesday.

The government sold the new three-year debt at a high yield of 0.90 percent, the same level where the notes were trading before the auction. Direct bidders, which includes some central banks, large fund managers and other investors, bought 24 percent of the notes, their highest share since February 2013.

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COMMODITIES

GOLD

SINGAPORE - Gold was trading near its highest in two weeks on Wednesday, holding on to sharp overnight gains, as rising geopolitical tensions over Ukraine burnished its safe-haven appeal.

However, investors continued to pull money out of gold-backed exchange-traded funds, raising the risk that the price gains would be short lived.

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BASE METALS

SYDNEY - London copper hovered near one-week highs on Wednesday, underpinned by a weaker dollar and expectations demand from top consumer China would modestly improve in the seasonally strong second quarter.

Three-month copper on the London Metal Exchange had edged up by 0.2 percent to $6680.75 a tonne by 0124 GMT, after closing the previous session little changed.

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OIL

NEW YORK - U.S. crude oil prices rose more than 2 percent on Tuesday in a technical-driven rally boosted by a weaker U.S. dollar and forecasts for a draw on stockpiles of domestic oil products.

Fresh unrest in eastern Ukraine provided background support for Brent as traders worried that heightened tensions between Moscow and the Western powers might interrupt oil supply from Russia, one of the world's top oil exporters.

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