India Morning Call-Global Markets

MUMBAI, June 2 Mon Jun 2, 2014 8:18am IST

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MUMBAI, June 2 (Reuters) - EQUITIES

NEW YORK - The Dow and the S&P 500 edged up to end at record highs on Friday, wrapping up four straight months of gains, after mixed economic data gave investors little reason to rush into stocks.

The Dow Jones industrial average rose 18.43 points or 0.11 percent, to 16,717.17. The S&P 500 gained 3.54 points or 0.18 percent, to 1,923.57. The Nasdaq Composite fell 5.33 points or 0.13 percent, to 4,242.62.

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LONDON - A drop in major mining stocks dragged down Britain's blue-chip equity index on Friday, frustrating the market's attempts to break new ground and hit record highs.

The FTSE 100 index closed down by 0.4 percent, or 26.78 points, at 6,844.51 points.

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TOKYO - Japan's Nikkei share average climbed to an eight-week high on Monday after strong Chinese factory data and rising Japanese corporate spending lifted sentiment.

The Nikkei was up 1.6 percent at 14,873.01 in midmorning trade, its highest since April 7

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HONG KONG - Hong Kong, China markets closed for holiday.

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FOREIGN EXCHANGE

SYDNEY - The dollar edged up slightly in early Asian trade, while the euro came under pressure as the market braced for further stimulus measures from the European Central Bank this week.

Short-term investors increased short positioning on the euro to 16,633 contracts from 9,220 a week ago, according to data for the week ended May 27 released by the Commodity Futures Trading Commission on Friday.

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TREASURIES

NEW YORK - Benchmark U.S. Treasuries yields rose on Friday as the investor demand that stoked May's bond rally faded and Wall Street dealers sought to resell their share of this week's $95 billion in fixed-rate government debt supply.

The rise in Treasuries yields accelerated on a surprise pickup in a private measure of U.S. Midwest business activities in May, supporting the view of a solid economic rebound in the second quarter after a contraction in the first quarter due partly to a harsh winter.

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COMMODITIES

GOLD

SINGAPORE - Gold slid for a fifth straight session on Monday, in its longest losing streak since November, as investor sentiment was hurt by stronger global equities and weak physical demand in Asia.

Spot gold eased 0.3 percent to $1,247.20 an ounce by 0028 GMT. It wasn't too far from a 4-month low of $1,241.99 hit on Friday.

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BASE METALS

SYDNEY - - London copper rose on Monday, underpinned by seasonal buying interest in China, but trading volumes were light due to a holiday in the top user of the metal.

Copper's gains came after the metal climbed 3 percent in May, marking its biggest monthly advance so far this year, with renewed momentum in China expected to keep a floor under prices in the near term.

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OIL

NEW YORK - U.S. crude fell on Friday as traders took profit at the end of the month, although the American benchmark rose 3 percent in May, underpinned by supply worries and strong gasoline demand in the United States.

Brent settled 56 cents down at $109.41 a barrel. U.S. light crude oil retraced its losses having fallen by $1.18 to an intra-session low of $102.40 to settle 87 cents lower at $102.71 a barrel. Trading in May ranged between $105 and $99.

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