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India Morning Call-Global Markets
July 30, 2014 / 2:56 AM / in 3 years

India Morning Call-Global Markets

MUMBAI, July 30 (Reuters) - EQUITIES

NEW YORK - U.S. stocks fell on Tuesday, dropping in a broad selloff as a weak outlook from courier company UPS weighed on sentiment and pressured transportation stocks.

The Dow Jones industrial average fell 70.16 points, or 0.41 percent, to 16,912.43, the S&P 500 lost 8.93 points, or 0.45 percent, to 1,969.98, and the Nasdaq Composite dropped 2.21 points, or 0.05 percent, to 4,442.70.

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LONDON - Britain’s top equity index edged up on Tuesday, lifted by gains at fashion chain Next and at car and plane parts maker GKN after strong results and outlook comments.

The blue-chip FTSE 100 index closed up 0.3 percent, or 19.68 points, at 6,807.75 points.

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TOKYO - Japan’s Nikkei share average edged up to hover at six-month highs in choppy trade on Wednesday morning, as strong corporate earnings led by Honda Motor Co 7267.T and Tokyo Electron Ltd eclipsed data showing weak industrial output.

The Nikkei tacked on 0.2 percent to 15,643.55 in midmorning trade after moving in and out of negative territory.

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HONG KONG - Hang Seng Index set to open up 0.3 percent.

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FOREIGN EXCHANGE

SYDNEY - - The U.S. dollar hovered at a six-month peak against a basket of major currencies early on Wednesday, having pushed higher as investors continued to give the euro a wide berth.

Traders said there was no fundamental reason for the broad strength in the greenback but suggested month-end repatriation by U.S. corporates may have helped.

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TREASURIES

NEW YORK - U.S. Treasuries prices increased on Tuesday after a new sale of five-year notes saw solid demand, and the U.S. yield curve flattened to five-year lows ahead of a busy data calendar and Federal Reserve meeting statement.

The yield spread between U.S. five-year notes and 30-year bonds flattened to its lowest level since 2009 on Tuesday at 153 basis points.

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COMMODITIES

GOLD

SINGAPORE - Gold was trading in a tight range below $1,300 an ounce on Wednesday, as investors nervously awaited the end of a Federal Reserve policy meeting to gauge the U.S. central bank’s view on the economy and monetary policy.

Spot gold was flat at $1,299.29 an ounce by 0024 GMT, after slipping 0.5 percent and breaking below the key $1,300 level in the previous session.

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BASE METALS

SYDNEY - Lead fell on Wednesday after a weaker technical close pushed investors to take profits and after the metal rose more than five percent this month as it slipstreamed zinc.

Three-month lead on the London Metal Exchange fell 1.1 percent to $2,241.50 by 0040 GMT adding to 1.4 percent losses from the previous session. Prices hit the highest in 17 months at $2,303 a tonne on Monday.

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OIL

NEW YORK - Brent crude ended slightly higher on Tuesday as new sanctions on Russia looked set to worsen relations between Moscow and the West, while U.S. prices slipped after a Kansas refinery fire curbed demand for WTI crude.

Brent crude gained 15 cents to settle at $107.72 a barrel, after swinging between $107.13 and $108.05 earlier in the session.

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