October 1, 2014 / 2:37 AM / 3 years ago

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stocks slipped on Tuesday, dragged down by energy and materials shares as economic data disappointed. Major indexes also posted losses for the month, but ended the quarter with gains.

The S&P energy index .SPNY was down 1.2 percent on Tuesday following a more than 3 percent drop in U.S. oil prices. The S&P materials index .SPLRMA also fell 1.2 percent. Shares of Chevron CVX.N, down 1 percent at $119.32, were the biggest drag on the S&P 500.

For a full report, click on

- - - -

LONDON - Britain’s top share index dropped on Tuesday, with retailers falling after Next NXT.L said it would have to lower its full-year profit forecast if the unusually warm weather continued.

The UK benchmark showed little reaction to data showing Britain’s economy is bigger than previously estimated.

For a full report, click on

- - - -

TOKYO - Japan’s Nikkei share average was little changed in choppy trade on Wednesday, with a weak yen supporting sentiment despite mixed data from the Bank Of Japan’s tankan survey.

Business confidence among Japanese manufacturers improved for the first time in two quarters in the three months to September, a central bank survey showed, an encouraging sign that parts of the economy are stabilising.

For a full report, click on

- - - -

HONG KONG - Financial markets in Hong Kong are closed on Wednesday, Oct. 1, for China’s National Day holiday and on Thursday, Oct. 2, for the Chung Yeung Festival, and will resume trading on Friday.

For a full report, click on

- - - -

FOREIGN EXCHANGE

Dollar rises above 110 yen for the first time since August 2008.

For a full report, click on

- - - -

TREASURIES

NEW YORK - U.S. Treasury prices fell on Tuesday, although month-end buying was seen as stemming weakness as the market stayed within its recent range before Friday’s highly anticipated September jobs report.

Treasuries have oscillated from weakness on Friday to gains on Monday amid concerns that asset manager Pimco may need to liquidate positions if investor redemptions increase after the departure of co-founder Bill Gross.

For a full report, click on

- - - -

COMMODITIES

GOLD

SINGAPORE - Gold extended losses on Wednesday to trade near a nine-month low and looked likely to break below the key $1,200-an-ounce level as the dollar gained in strength.

The absence of top buyer China, which begins a week long holiday from Wednesday, is also likely to add pressure.

Spot gold slipped 0.2 percent to $1,206.90 an ounce by 0038 GMT, its fourth straight session of losses. The metal had fallen to $1,204.40 in the previous session - its lowest since early January.

For a full report, click on

- - - -

BASE METALS

SYDNEY - London copper slipped to its lowest in more than three months on Wednesday, pummelled by a stronger dollar and concerns swelling supply could overwhelm fragile demand growth in top consumer China.

Three-month copper on the London Metal Exchange CMCU3 had slipped 0.3 percent to $6,648.50 a tonne by 0114 GMT, after earlier hitting its weakest since June 13 at $6,645.50 a tonne. It lost 1.1 percent in the previous session.

For a full report, click on

- - - -

OIL

NEW YORK - World oil prices tumbled to their lowest in more than two years on Tuesday, with U.S. crude posting its biggest daily decline since 2012, as a drop in gasoline prices and end-of-quarter selling capped three months of steep losses.

Oil prices in the United States and Europe have plummeted since the end of June as output from the Middle East, Africa and the United States swamped the market and outweighed fears of supply disruptions from war-torn oil-producing regions.

For a full report, click on (Compiled by Abhishek Vishnoi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below