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India Morning Call-Global Markets
March 5, 2014 / 2:41 AM / in 4 years

India Morning Call-Global Markets

EQUITIES
    NEW YORK - U.S. stocks rallied on Tuesday, with the S&P 500
closing at a record as concerns about a confrontation between
Russia and Ukraine eased, and the market recovered more than all
of the previous session's hefty losses.
    Russian President Vladimir Putin delivered a robust defense
of Russia's actions in Crimea on Tuesday, saying he would use
force in Ukraine only as a last resort. His comments relieved
investors' fears that East-West tension over the former Soviet
republic could lead to war.
    For a full report, double click on 
    - - - -
    LONDON - Britain's top share index rebounded from two-week
lows on Tuesday, recouping its losses in the previous session,
with the perception that tensions between Russia and Ukraine
were easing and robust earnings boosting investors' risk
appetite.
    However, investors remained cautious in placing strong bets
on the sustainability of the share rally, given that Russia and
the West remained at loggerheads over Russia's actions in
Ukraine. Russian President Vladimir Putin gave orders to end an
army exercise and said the use of force was a choice of "last
resort".
    For a full report, double click on 
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    TOKYO - Japanese stocks jumped on Wednesday after comments
by Russian President Vladimir Putin eased worries about military
confrontation in Ukraine for now, sparking short covering in
battered shares like property developers.
    The Nikkei share average was up 1.7 percent at
14,974.18 in morning trade, keeping its recovery trend intact
after hitting a low just under the 14,000 mark a month ago. Its
Feb. 25 high of 15,094.54 seen as a possible target.
    For a full report, double click on 
    - - - -
    HONG KONG - Hang Seng Index set to open up 0.8
percent.
    For a full report, double click on 
    - - - -
    FOREIGN EXCHANGE
    SYDNEY - The yen nursed heavy losses early on Wednesday,
having suffered a vicious turnaround as safety demand faded
after Russian President Vladimir Putin played down the prospect
of a war in Ukraine.
    The dollar jumped to 102.26 yen from Tuesday's low of
101.40, while the euro climbed to 140.49 yen from
139.28. The move nearly reversed all the yen's gains made over
the previous two sessions.
    For a full report, double click on 
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    TREASURIES
    NEW YORK - U.S. Treasury debt prices extended losses on
Tuesday as Russian President Vladimir Putin said his country
would use military force in the Ukraine only as a last resort,
prompting a reversal in Monday's flight to safe assets.
    Putin also ordered troops involved in a military exercise
close to the Ukrainian border back to their bases, apparently
seeking to ease East-West tensions
    For a full report, double click on 
    - - - -
    COMMODITIES
    GOLD
    SINGAPORE - Gold was little changed on Wednesday following
sharp overnight losses as safe-haven buying cooled on easing
fears of imminent military action by Russia in Ukraine.
    Bullion prices were also kept in check by higher equities,
which recovered after Russian President Vladimir Putin said he
would use force in Ukraine only as a last resort.
    For a full report, double click on 
    - - - -
    BASE METALS
    SYDNEY - London copper on Wednesday hovered near one-week
highs hit the day before as tensions in Ukraine appeared to ease
a touch, with investor focus shifting to major economic events
this week in China and the United States.
    Three-month copper on the London Metal Exchange was
flat at $7,045 a tonne by 0109 GMT, after gains of 1.2 percent
in the previous session. Copper hit its highest since March 26
at $7,068 a tonne on Tuesday, rebounding from three-month lows
below $7,000 last week. 
    For a full report, double click on 
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    OIL
    NEW YORK - Crude oil fell nearly 2 percent on Tuesday on
comments from President Vladimir Putin that eased concerns
Russia would escalate its military intervention in Ukraine's
Crimea peninsula.
    Putin told reporters Russia reserved the "right" to
intervene in the Ukraine crisis, but would only use force as a
"last resort."
    Coupled with news that Russian troops engaged in military
exercises near the Ukraine border were ordered to return to
their bases, oil prices slid from the five-month highs it
reached Monday.
    For a full report, double click on 

 (Compiled by Abhishek Vishnoi)

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