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India Morning Call-Global Markets
August 13, 2014 / 2:57 AM / in 3 years

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stocks ended lower on Tuesday, snapping a two-day rally as energy shares tumbled on sliding oil prices. The pullback occurred on light volume typical of mid-August.

The Dow Jones industrial average fell 9.44 points, or 0.06 percent, to close at 16,560.54. The S&P 500 ended down 3.17 points, or 0.16 percent, at 1,933.75. The Nasdaq Composite lost 12.08 points, or 0.27 percent, to finish at 4,389.25.

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LONDON - Britain’s top shares were pegged back on Tuesday by tension between the West and Russia over Ukraine, although robust results lifted insurance and pensions group Prudential.

The FTSE 100 closed down 0.40 of a point - flat in percentage terms - at 6,632.42 points, after gaining 1 percent on Monday.

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TOKYO - Japan’s Nikkei share average extended its recovery from two-month low on Tuesday, with buying interest in steelmakers and shipping companies to the fore as investors put geopolitical concerns on a back burner while still remaining cautious.

The Nikkei rose 0.2 percent to 15,161.31, extending its rebound from a low of 14,753 hit on Friday due to the concerns that conflicts in Ukraine and the Middle East could hamper world growth.

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HONG KONG - Hang Seng Index set to open up 0.2 percent.

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FOREIGN EXCHANGE

SYDNEY - The euro nursed only modest losses early on Wednesday, having regained quite a bit of ground as markets got over a closely watched report that showed a slump in German economic sentiment.

The common currency last traded at $1.3369, after coming within a whisker of a nine-month trough of $1.3333.

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TREASURIES

NEW YORK - - U.S. Treasury debt yields rose on Tuesday as traders sold some bond holdings in advance of a combined $40 billion in longer-dated supply, which some traders worry might not lure strong demand due to their low yields.

Wednesday’s auction of $24 billion in 10-year notes and Thursday’s $16 billion sale of 30-year securities follow solid results at the $27 billion three-year note auction.

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COMMODITIES

GOLD

SINGAPORE - Gold was well-supported above $1,300 an ounce on Wednesday as weak investor morale in Germany and fears over the economic impact on Europe from the crisis in Ukraine prompted investors to seek safety in bullion.

Spot gold was flat at $1,308.49 an ounce by 0035 GMT. U.S. gold GCcv1 slipped about $1 to $1,309.70.

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BASE METALS

SYDNEY - London copper was mired near its lowest level since June on Wednesday as geopolitical tensions continued to blunt prospects for global growth, while traders waited for a gauge of factory health in top consumer China for directional cues.

Three-month copper on the London Metal Exchange was little changed at $6,969 a tonne by 0135 GMT after small losses in the prior session

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OIL

NEW YORK - - Brent crude oil fell to a 13-month low on Tuesday as increased OPEC production helped dampen concerns over potential supply disruptions in Iraq and Libya.

September Brent crude fell $1.66 to settle at $103.02 per barrel. Brent’s $102.65 intraday low was the lowest price since July 1, 2013.

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