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India Morning Call-Global markets
December 31, 2013 / 3:32 AM / 4 years ago

India Morning Call-Global markets

EQUITIES
    NEW YORK - U.S. stocks closed mostly flat on Monday, with
the Dow edging up to another record closing high and the S&P 500
index's advance stalling in response to light trading volume and
weaker-than-forecast housing data.
    The benchmark S&P 500 had climbed 3.7 percent over
the previous two weeks, the index's best fortnight since July.
The gains came after mounting signs that the economy was gaining
strength, leading the Federal Reserve to announce that it will
scale back its stimulus.
    The Dow Jones industrial average rose 25.88 points,
or 0.16 percent, to end at 16,504.29, a record close. The
Standard & Poor's 500 Index dipped just 0.33 of a point,
or 0.02 percent, to finish at 1,841.07. 
    - - - -
    LONDON - Britain's top shares lost ground on Monday as
investors squared positions into the year end after six straight
sessions of gains, pressured by retailers on concerns over how
they have fared over the crucial festive season.
    The FTSE 100 closed down 19.60 points, or 0.3
percent, at 6,731.27 points, pausing after its longest winning
streak since October, which saw it rise around 4 percent since
Dec. 18.
    Volumes were, however, very thin - exaggerating the impact
of any orders in the market - at around half of the 90-day daily
average, with many investors still out for the Christmas break. 
    For a full report, double click on 
    - - - -
    TOKYO - Japan's Nikkei stock average rose to a fresh
six-year high on Monday to close out 2013 with a 57 percent
annual gain, its biggest in more than 40 years on the back of
aggressive economic stimulus by Prime Minister Shinzo Abe.
    Japan's markets will be closed for the New Year holiday from
Dec. 31 to Jan. 3. 
    For a full report, double click on 
    - - - -
    HONG KONG - The Hang Seng index gains 0.44 percent.
For a full report, double click on 
    - - - -
    FOREIGN EXCHANGE
    TOKYO - The dollar hovered within sight of a five-year high
versus the yen on Tuesday and was on track for its biggest
yearly percentage gain versus the Japanese currency in 34 years,
having risen nearly 21 percent in 2013.
    The dollar last fetched about 104.93 yen, down 0.2
percent on the day and inching away from Monday's five-year high
of 105.41 yen, the greenback's strongest level versus the yen
since October 2008.
    For the year, the dollar has risen 20.9 percent against the
yen, putting it on track for its biggest one-year percentage
gain versus the Japanese currency since 1979, when the dollar
climbed 23.7 percent against the yen, according to Thomson
Reuters data.
    For a full report, double click on 
    - - - -
    TREASURIES
    NEW YORK - Benchmark U.S. Treasury debt yields slipped but
held near two-year highs on Monday as year-end buying boosted
prices, though volumes were light as the New Year's Day holiday
approaches.
    The pull-back reversed some of the advance in yields after
the U.S. Federal Reserve this month said it will scale back its
monthly purchases of Treasuries and mortgage-backed securities
by $10 billion to $75 billion in January as the economy
improves.
    The 10-year Treasury note rose 9/32 in price on
Monday to yield 2.974 percent, after the yields rose to 3.002
percent on Friday, the highest since July 2011.
    For a full report, double click on 
    - - - -
    COMMODITIES
    GOLD
    SINGAPORE - Gold staged a modest rebound on Tuesday after
falling more than 1 percent in the previous session, but the
precious metal was on track for its biggest annual loss since
1981 as investors shifted their money to equities.
    Spot gold added $1.80 an ounce to $1,197.80 an ounce
by 0028 GMT. U.S. gold fell 0.54 percent to $1,197.30 an
ounce. 
    For a full report, double click on 
    - - - -
    BASE METALS
    SINGAPORE - London copper edged higher on Tuesday to trade
around a four-month high and aluminium rose for a third
consecutive session to hover near a two-month top as an improved
global economic outlook supported metals.
    Three-month copper on the London Metal Exchange rose
0.1 percent to $7,381.25 a tonne by 0107 GMT. Copper climbed to
$7,415.50 a tonne on Friday, its highest since August 16. 
    For a full report, double click on 
    - - - - 
    OIL
    NEW YORK - Crude oil futures tumbled on both sides of the
Atlantic on Monday on early signals that oil output in Libya may
be starting to recover and concerns over a buildup in local
government debt in China, the world's second-largest oil
consumer.
    Brent is less than $1 from where it began in January after
trading in a range of $22, while U.S. crude has gained 8 percent
year-to-date in spite of ever-climbing domestic shale oil
production.
    Brent crude shed 97 cents to settle at $111.21 a
barrel after earlier hitting a low of $110.90. U.S. crude 
fell $1.03 to settle at $99.29.   
   For a full report, double click on 

 (Compiled by Himank Sharma)

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