June 24, 2014 / 2:57 AM / 3 years ago

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stocks ended a quiet session on Monday essentially unchanged as investors found few reasons to keep buying following a six-day rally in the S&P 500, though merger activity lifted energy shares.

The Dow Jones industrial average fell 9.82 points or 0.06 percent, to 16,937.26, the S&P 500 lost 0.26 points or 0.01 percent, to 1,962.61 and the Nasdaq Composite added 0.64 points or 0.01 percent, to 4,368.68.

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LONDON - Britain's top equity index fell on Monday for the first time in a week as declines in housebuilding shares weighed on the market, which had been approaching record highs.

The blue-chip FTSE 100 index, which had risen for the last four sessions, ended down by 0.4 percent, or 24.64 points, at 6,800.56 points - some 2 percent below a December 1999 record high of 6,950.60 points.

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TOKYO - Japan's Nikkei share average stepped back from a 5-month high on Tuesday, as the focus in domestic markets turned to Prime Minister Shinzo Abe's release later in the day of his much-anticipated policy initiatives to boost growth.

The Nikkei fell 0.6 percent to 15,271.20, slipping from Monday's five-month high with investors taking the opportunity to book profits after the benchmark rallied almost 10 percent in just over a month.

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HONG KONG - Hang Seng Index set to open up 0.5 percent.

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FOREIGN EXCHANGE

SYDNEY - The dollar-bloc currencies held onto gains on Tuesday, having outperformed their G3 peers on optimism about Chinese growth.

Given the absence of catalysts in early Asian trading, markets looked to the Japanese government to deliver its latest instalment of long-term economic policies later in the day.

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TREASURIES

NEW YORK - Prices of long maturity U.S. Treasuries rose on Monday after business activity data showed growth slowing in France and elsewhere in the euro zone.

The gains, which left yields on benchmark 10-year Treasuries well within a trading range in place since February, narrowed when unexpectedly strong U.S. factory data was published but mostly recovered in later New York trading.

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COMMODITIES

GOLD

SINGAPORE - Gold was little changed on Tuesday as investors watched developments in violence-wracked Iraq, while platinum steadied after two days of losses as strikes in top producer South Africa came to an end.

South Africa's AMCU union declared a five-month platinum strike "officially over" on Monday, bringing to an end the longest work stoppage in the country's history. Miners are expected to return to work this week.

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BASE METALS

SYDNEY - London copper slipped on Tuesday from three-week highs in the previous session as a weaker-than-expected European manufacturing survey for June dented prospects for otherwise encouraging global growth.

Three-month copper on the London Metal Exchange <CMCU3. slipped by 0.4 percent to $6,859.50 a tonne by 0121 GMT, after rising in the previous session.

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OIL

NEW YORK - Brent crude recorded its largest one-day decline in five weeks on Monday, falling toward $114 a barrel as oil exports from Iraq remained unaffected by Islamic insurgents' continued advance on Baghdad.

Brent fell 69 cents, or 0.6 percent, to settle at $114.12, it's biggest percentage drop since May 16

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