March 28, 2014 / 2:56 AM / 3 years ago

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stocks fell on Thursday, erasing most of the S&P 500’s year-to-date gain, as banking and technology stocks led the selloff.

The benchmark S&P 500 turned nearly flat for the year after falling almost 1 percent this week as many of the market’s biggest trading favourites lost their momentum.

The Dow Jones industrial average dipped 4.76 points or 0.03 percent, to end at 16,264.23. The S&P 500 lost 3.52 points or 0.19 percent, to close at 1,849.04. The Nasdaq Composite dropped 22.346 points or 0.54 percent, to finish at 4,151.232.

For a full report, double click on

- - - -

LONDON - Britain’s top stock index fell on Thursday, with miners leading the retreat on lingering concerns their earnings could be hurt by weaker metals prices following an economic slowdown in China and improving supplies.

Banks also lost ground after the Federal Reserve blocked the U.S. units of Royal Bank of Scotland and HSBC from paying higher dividends or buying back their own shares, citing weaknesses in their capital planning.

For a full report, double click on

- - - -

TOKYO - Japanese stocks were choppy on Friday morning, as investors booked profits ahead of the fiscal year end and as Yahoo Japan Corp dived on questions about strategy following news it will buy mobile network operator eAccess from SoftBank Corp 9984.T.

The Nikkei share average was off 0.2 percent at 14,647.17 in mid-morning trade after pension-fund buying drove it 1.0 percent higher to 14,622.89 on Thursday, the highest closing price since March 13.

For a full report, double click on

- - - -

HONG KONG - Hang Seng Index set to open up 0.4 percent.

For a full report, double click on

- - - -

FOREIGN EXCHANGE

SYDNEY - The euro nursed broad losses early on Friday, while a rally in dollar-bloc commodity currencies drove the New Zealand dollar to its highest against the greenback in over two years.

The euro last traded at $1.3743, having plumbed three-week lows of $1.3728 overnight, and on track to end lower for a second straight week.

For a full report, double click on

- - - -

TREASURIES

NEW YORK - U.S. Treasuries yields held at lower levels on Thursday after the government sold $29 billion of new seven-year notes to strong demand, the final sale of $96 billion in new coupon-bearing supply this week.

The notes were sold at a high yield of 2.258 percent, more than a basis point below where they had traded before the auction.

For a full report, double click on

- - - -

COMMODITIES

GOLD

SINGAPORE - Gold recovered slightly on Friday after sharp overnight declines but the metal remained near six-week lows and on track for a second straight weekly decline, as improving sentiment over the U.S. economic outlook dented its safe-haven appeal.

Spot gold was up 0.2 percent to $1,293.19 an ounce by 0017 GMT. It is down 3 percent for the week.

For a full report, double click on

- - - -

BASE METALS

SYDNEY - London copper edged higher on Friday, moving further away from more than three year lows hit earlier this month, as slowly improving demand in top metals user China put it on target for its biggest weekly rise in three months.

Three-month copper on the London Metal Exchange had climbed 0.44 percent to $6,590 a tonne by 0130 GMT, adding to gains of 0.8 percent in the previous session.

For a full report, double click on

- - - -

OIL

NEW YORK - Crude oil futures rose on both sides of the Atlantic on Thursday, with U.S. crude up more than $1 per barrel to hit a three-week high as strong U.S. economic data and the end of refinery maintenance season signalled strong demand ahead for crude oil.

U.S. crude for May delivery rose by $1.02 to settle at $101.28 a barrel, following a $1.07 rise in the previous session. It is up nearly two percent for the week, and has risen in six of the last eight sessions.

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below