December 16, 2013 / 2:56 AM / 4 years ago

India Morning Call-Global markets

    NEW YORK - U.S. stocks ended Friday's session little changed
after a three-day drop, but logged their worst week in nearly
four months on concern that the Federal Reserve could signal the
start of a reduction in its stimulus program at its
policy-setting meeting next week.
    Investors in U.S.-based funds pulled $6.51 billion out of
stock mutual funds in the week ended Wednesday, representing the
biggest weekly outflow this year, data from Thomson Reuters'
Lipper service showed on Thursday
    For a full report, double click on 
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    LONDON - Britain's main share index has suffered its longest
streak of weekly losses since 2008 after falling for a fourth
straight day on Friday, led by insurer RSA.
    The FTSE 100 was down 1.7 percent for the week, its
sixth consecutive decline, as concerns about a tightening of
U.S. monetary policy and a stronger pound clouded the outlook
for the many globally exposed companies in the British index.
    For a full report, double click on 
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    TOKYO - Japan's Nikkei share average dropped on Monday
morning, hit by selling in futures and index-heavy stocks as
investors braced for a possible start of the U.S. Federal
Reserve's stimulus-tapering at its policy meeting this week.
    The Nikkei shed 0.5 percent to 15,323.49 in
mid-morning trade after rising 0.4 percent on Friday.
    For a full report, double click on 
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    HONG KONG - HK'S Hang Seng index to open down 0.5
percent. For a full report, double click on 
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    SYDNEY - The dollar started trade in Asia on Monday pretty
much where New York left it as investors waited to see if the
Federal Reserve would begin to scale back its massive bond
buying stimulus program this week.
    The dollar index was little changed at 80.195, having
risen late last week on growing expectations the Fed could
finally begin to withdraw support at its Dec 17-18 policy
    For a full report, double click on 
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    NEW YORK - Long-dated U.S. Treasuries prices rose on Friday
as the yield curve flattened amid muted inflation.
    The subdued inflation data reinforced the idea that the
Federal Reserve would not reduce bond purchases aimed at
stimulating the economy until 2014.
    The stronger performance followed losses on Thursday due to
slightly stronger than expected November retail sales and a poor
$13 billion auction of 30-year bonds, the final part of this
week's $64 billion in coupon-bearing supply.
    For a full report, double click on 
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    SINGAPORE - Gold edged lower on Monday as investors
nervously eyed the Federal Reserve's last policy meeting of the
year to gauge whether the U.S. central bank would stick to its
monetary stimulus.
    Spot gold eased 0.1 percent to $1,236 an ounce by
0020 GMT, after gaining 1.2 percent on Friday. 
    For a full report, double click on 
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    SINGAPORE - London copper ended six sessions of gains on
Monday as traders cut risk ahead of this week's Federal Reserve
decision on whether to trim stimulus that has supported
commodities and a string of manufacturing reports later in the
    Most metals have recovered 3-5 percent this month and given
many are trading at or below cost of production they are poised
to profit from improving prospects for economic growth, said
analyst Mark Kennan of Societe Generale in Singapore.
    For a full report, double click on 
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    NEW YORK - U.S. crude futures fell on Friday on expectations
the Federal Reserve could announce a pullback of its bond-buying
program as early as next week.
    The Fed stimulus, or quantitative easing, has supported
riskier assets such as commodities and equities.
    Brent crude edged higher, in seesaw trading ahead of the
January futures contract expiration on Monday, on support from
uncertainty about whether oil ports in eastern Libya will resume
    For a full report, double click on 

 (Compiled by Abhishek Vishnoi)

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