May 9, 2014 / 3:11 AM / 3 years ago

India Morning Call-Global Markets

MUMBAI, May 9 (Reuters) - EQUITIES

NEW YORK - U.S. stocks mostly fell on Thursday with the S&P 500 and the Nasdaq closing lower, led by losses in the energy and utility sectors.

The Dow Jones industrial average rose 32.43 points or 0.2 percent, to close at 16,550.97, the S&P 500 lost 2.58 points or 0.14 percent, to 1,875.63 and the Nasdaq Composite dropped 16.177 points or 0.4 percent, to 4,051.496.

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LONDON - Britain's top shares closed at their highest in more than two months on Thursday, as Barclays announced a revival plan and investors welcomed the possibility of more stimulus steps from the European Central Bank in June.

Barclays was the standout gainer on the FTSE 100 , up 7.9 percent after it said it would cut 19,000 jobs in the next three years and set up a "bad bank".

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TOKYO - Japanese stocks edged higher on Friday in choppy trade as investors picked up companies with strong growth prospects, such as Toshiba, while concerns about the Ukraine crisis kept investors on edge.

Toyota Motor Corp initially fell as much as 2 percent before rising 0.8 percent by midmorning. The automaker forecast a profit decline this fiscal year but traders said the news had been priced into the shares.

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HONG KONG - Hang Seng Index set to open down 0.1 percent.

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FOREIGN EXCHANGE

SYDNEY - The euro was binding its wounds in early trade on Friday after dovish comments from European Central Bank President Mario Draghi sent the currency tumbling from a 2-1/2 year high on Thursday.

The euro traded little changed at $1.3843 on Friday morning, having pulled back from $1.3992 hit on Thursday, the highest since November 2011.

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TREASURIES

NEW YORK - Thirty-year Treasuries sat out a modest U.S. bond market rally and dropped on Thursday after the government sold $16 billion of new long bonds at unexpectedly high yields.

The 30-year auction, the last of three this week by the Treasury Department selling $69 billion of new debt, came with a high yield of 3.440 percent, or over two basis points more than the market level signalled just before the auction.

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COMMODITIES

GOLD

SINGAPORE - Gold prices were steady early on Friday supported by geopolitical tensions in Ukraine, with investors eyeing fund flows and Asian physical demand for further cues.

Spot gold was little changed at $1,288.51 an ounce by 0022 GMT. The metal is down 0.9 percent for the week - its second straight weekly decline.

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BASE METALS

SYDNEY - - London nickel prices surged beyond $20,000 per tonne for the first time in more than two years on Friday, climbing nearly 4 percent as a flurry of supply concerns fuelled appetite for the stainless steel material.

Three-month nickel on the London Metal Exchange rocketed as high as $20,153 tonne, before trading at $20,144 a tonne - a gain of 3.8 percent on the day.

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OIL

NEW YORK - U.S. crude oil prices fell on Thursday after hitting resistance at a key technical level, and Brent also fell as traders awaited developments in Ukraine.

Low oil exports from Libya, where rebels refuse to cooperate with the new prime minister to reopen major ports, and rising oil imports to China provided some support to the markets.

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