India Morning Call-Global markets
EQUITIES
NEW YORK - U.S. stocks rose on Friday, rebounding from the
previous session's selloff, after an unexpectedly strong
payrolls report lent weight to views the world's largest economy
is stronger than previously thought.
With Friday's advance, The Dow and S&P 500 recorded their
fifth straight week of gains. For the week, the Dow rose 0.9
percent and the S&P 500 index rose 0.5 percent. The Nasdaq fell
0.1 percent for the week.
For a full report, double click on
- - - -
LONDON - Britain's leading share index edged higher late on
Friday as much stronger-than-expected U.S. jobs data suggested
growth in the world's largest economy was gaining momentum.
U.S. jobs growth unexpectedly accelerated in October as
employers shrugged off a government shutdown. The readings for
the previous two months were revised upwards in a sign of
building momentum. (Full Story)
For a full report, double click on
- - - -
TOKYO - Japan's Nikkei share average jumped 1.3 percent on
Monday morning, rebounding from the previous session's selloff
after an unexpectedly strong U.S. jobs report put to bed any
lingering concerns about the pace of economic recovery.
U.S. employers took on 204,000 new employees last month,
almost double the expected 125,000 and defying expectations that
the partial U.S. government shutdown would hamper job growth
For a full report, double click on
- - - -
HONG KONG - HK's Hang Seng index to open up 0.2
percent.
For a full report, double click on
- - - -
FOREIGN EXCHANGE
SYDNEY - The U.S. dollar held near two-month highs against a
basket of major currencies early in Asia on Monday, having
staged a broad rally after upbeat U.S. jobs data bolstered the
case for the Federal Reserve to scale back stimulus as early as
next month.
The dollar index last traded at 81.289, holding on to
most of Friday's 0.6 percent gains after a closely watched
report showed employers added 204,000 new jobs to their payrolls
last month, soundly beating forecasts for 125,000 jobs.
For a full report, double click on
- - - -
TREASURIES
NEW YORK - U.S. Treasuries prices fell on Friday after
stronger-than-forecast October job growth revised expectations
about how soon the Federal Reserve could start to scale back its
bond-purchase program aimed at stimulating the economy.
Ten-year benchmark US10YT=RR note prices slid 1-10/32 while
yields shot up to 2.75 percent from 2.60 percent on the outlook
that the Fed could trim bond purchases sooner than March 2014.
For a full report, double click on
- - - -
COMMODITIES
GOLD
SINGAPORE - Gold eased on Monday to trade near three-week
lows after an unexpectedly strong U.S. jobs report reignited
fears the Federal Reserve could begin scaling back its support
for the economy soon.
Spot gold XAU= fell 0.2 percent to $1,286.19 an ounce by
0020 GMT. It lost 1.7 percent on Friday - the metal's biggest
one-day drop in more than a month.
For a full report, double click on
- - - -
BASE METALS
SINGAPORE - Copper steadied on Monday after last week
logging its biggest weekly fall in two months, as a revival in
U.S. jobs growth burnished hopes for recovery in the world's top
economy and brightened the outlook for demand.
Three-month copper on the London Metal Exchange CMCU3 edged
up 0.3 percent to $7,184 a tonne by 0121 GMT, extending small
gains from the previous session.
For a full report, double click on
- - - -
OIL
NEW YORK - Brent oil rose by nearly $2 per barrel on Friday
as traders covered short positions going into the weekend and
kept a close watch over a meeting between Western powers and
Iran over its nuclear program and renewed violence in Libya.
Six western nations and Iran were expected to iron out an
agreement during a meeting in Geneva. This could ease sanctions
against Iran, which have removed more than 1 million barrels per
day (bpd) of oil from world markets. Any increase in supply from
the Islamic Republic could push oil prices sharply lower.
For a full report, double click on