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India Morning Call-Global Markets
August 7, 2014 / 3:02 AM / in 3 years

India Morning Call-Global Markets

EQUITIES

NEW YORK - Major U.S. stock indexes ended little changed on Wednesday, as tensions in Ukraine and Russia and a failed merger between Sprint and T-Mobile offset gains in consumer staples shares.

The Dow Jones industrial average rose 13.87 points, or 0.08 percent, to 16,443.34. The S&P 500 was up 0.03 point, or 0 percent, to 1,920.24, and the Nasdaq Composite added 2.22 points, or 0.05 percent, to 4,355.05.

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LONDON - Britain’s top equity index fell on Wednesday, pummelled by disappointing economic data and mounting concern over the crisis in Ukraine.

The FTSE 100 fell 46.32 points, or 0.7 percent, to 6,636.16 points after hitting a three-month low of 6,588.43 points.

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TOKYO - Japan’s Nikkei share average edged down on Thursday morning in choppy trade, extending its declines into a sixth day as the strong yen dragged down exporters, while rising tensions in Ukraine dulled risk appetite.

The Nikkei dropped 0.1 percent to 15,143.64 in mid-morning trade after falling to as low as 15,085.69, the lowest since June 30.

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

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FOREIGN EXCHANGE

SYDNEY - The euro nursed broad losses early on Thursday after a batch of disappointing data from Italy and Germany soured sentiment for the currency just hours ahead of a policy review by the European Central Bank.

Italy unexpectedly slid back into recession in the second quarter, while German industrial orders in June posted their biggest monthly fall since September 2011.

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TREASURIES

NEW YORK - U.S. Treasuries prices got a strong lift on Wednesday from rising tensions over Ukraine that stung global financial markets but they ended with just modest gains as Wall Street steadied after a selloff.

Benchmark 10-year notes, whose yield struck a two-months low on Wednesday after trading over 2.50 percent on Tuesday, were up 3/32 in price to yield 2.47 percent.

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COMMODITIES

GOLD

SINGAPORE - Gold held overnight gains to trade near its highest in over a week on Thursday as fears of Russian military action against Ukraine and heightened tensions between Moscow and the West burnished gold’s appeal as a safe-haven.

Spot gold rose 0.1 percent to $1,307.60 an ounce by 0021 GMT, after gaining 1.4 percent on Wednesday.

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BASE METALS

SYDNEY - London copper steadied on Thursday, after touching a five-week trough in the previous session, as the dollar eased from nine month peaks and relieved pressure on the metals complex.

Three-month copper on the London Metal Exchange was little changed at $6,972.50 a tonne by 0100 GMT.

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OIL

NEW YORK - Oil prices fell on Wednesday as abundant supplies in the United States drove the U.S. contract to its lowest close in six months, while Brent prices floundered near nine-month lows.

Brent crude oil lost 2 cents settle at $104.59 a barrel, its lowest close since Nov. 7.

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