January 14, 2014 / 3:06 AM / in 4 years

India Morning Call-Global markets

    NEW YORK - U.S. stocks tumbled on Monday on caution ahead of
corporate results, as mounting negative pre-announcements left a
lackluster profit growth outlook.
    Wall Street has seen a slow start to the year following a
gangbusters 2013. After the S&P 500's jump of almost 30 percent
last year, its forward price-to-earnings ratio is the highest in
nearly seven years and investors are weighing the risk of paying
such a high premium for earnings that may see growth stall.
    For a full report, double click on 
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    LONDON - A rally in banking shares helped Britain's FTSE 100
 rise to a two-month closing high on Monday as investors
welcomed the prospect of lighter rules on leverage for the
    Supermarket WM Morrison was the top FTSE gainer on
speculation it may sell some property and return some of the
proceeds to shareholders, while oil and gas engineering firm
Amec was boosted by an expansionary deal to buy rival
Foster Wheeler.
    For a full report, double click on 
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    TOKYO - Japan's Nikkei average tumbled more than 2 percent
to a one-month low on Tuesday after the yen rose sharply
following a weaker-than-expected U.S. payrolls report, driving
down shares of exporters like Toyota Motor.
    Bucking the weakness, Suntory Beverage & Food Ltd 
climbed 2.4 percent after parent Suntory Holdings said it would
buy U.S. spirits company Beam Inc for $13.6 billion.
    For a full report, double click on 
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    HONG KONG - Hong Kong's Hang Seng index to open down
1.1 percent. 
    For a full report, double click on 
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    SYDNEY - The yen held onto broad gains early on Tuesday,
having staged a solid rally against sterling, the U.S. dollar
and euro following a selloff on Wall Street and a further drop
in Treasury yields.
    Investors were forced to unwind stretched short positions in
the Japanese currency in the wake of the poor U.S. jobs numbers
and as U.S. stocks posted the biggest one-day fall in
more than two months.
    For a full report, double click on 
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    NEW YORK - U.S. Treasuries prices rose on Monday, extending
Friday's rally as investors reduced bullish expectations for
economic growth after employers added far fewer jobs in December
than traders and economists had expected.
    The yield on the benchmark 10-year note fell to a three-week
low, after registering the largest one-day fall since October on
Friday on news U.S. employers added only 74,000 workers in
December, far short of the 196,000 rise forecast by analysts
polled by Reuters.
    For a full report, double click on 
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    SINGAPORE - Gold was trading near its highest in a month on
Tuesday as safe-haven bids for the metal increased amid a drop
in the dollar and equities, with investors fretting over the
U.S. growth outlook after a disappointing jobs report last week.
    Spot gold had edged up 0.09 percent to $1,254.20 an
ounce by 0007 GMT, near a one-month peak of $1,254.80.
    For a full report, double click on 
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    SYDNEY - London copper was little changed on Tuesday, as
caution over growth prospects for the world's top two economies
dampened sentiment, but a shortfall of metal in the physical
markets underpinned prices.
    Three-month copper on the London Metal Exchange 
edged down by 0.2 percent $7,317.75 a tonne by 0116 GMT from the
previous session. 
    For a full report, double click on 
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    NEW YORK - Oil fell on Monday after news of a deal between
Western nations and Iran to curb the OPEC country's nuclear
program and as production resumed from Libya and a key North Sea
    Oil futures were also pressured by declines in gasoline
futures and equities, as last week's much weaker-than-expected
U.S. jobs data also weighed on hopes of economic recovery in the
world's largest oil consumer.
    For a full report, double click on 

 (Compiled by Abhishek Vishnoi)

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