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New Zealand/Australia Morning Call-Global markets

Published 29/06/2016, 06:04 am
© Reuters.  New Zealand/Australia Morning Call-Global markets
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Overnight market action with latest New York figures.

EQUITIES

NEW YORK - Wall Street recouped some recent losses on Tuesday as investors sought cheap assets after a two-day equities rout sparked by Britain's decision to leave the European Union.

The Dow Jones industrial average .DJI was up 186.41 points, or 1.09 percent, at 17,326.65, the S&P 500 .SPX gained 25.42 points, or 1.27 percent, at 2,025.96 and the Nasdaq Composite .IXIC added 78.39 points, or 1.71 percent, at 4,672.83.

For a full report, double click on .N

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LONDON - Britain's top share index bounced back on Tuesday following two straight sessions of steep losses as insurers and banks, hit hard in the aftermath of Britain's decision to leave the European Union, led the market higher.

The FTSE 100 index .FTSE closed 2.6 percent higher at 6,140.39 points, with all but nine stocks trading in positive territory.

For a full report, double click on .L

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TOKYO - Japanese stocks edged higher in volatile trade on Tuesday as a pause in sterling's fall offered some respite, but gains were capped by weakness in automakers.

The Nikkei .N225 ended 0.1 percent higher at 15,323.14 after falling to as low as 14,987.79 earlier.

For a full report, double click on .T

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FOREIGN EXCHANGE

NEW YORK - The U.S. dollar slipped against the British pound and the euro on Tuesday as the market took a breather and potential profit-taking after a brutal two-day selloff in sterling and the euro sparked by Britain's vote to leave the European Union.

Sterling was last up 0.9 percent against the greenback at $1.3346 GBP=D4 , regaining some ground after hitting a 31-year low of $1.3122 on Monday. Sterling hit a session high of $1.3421 earlier. The euro was last up 0.3 percent against the dollar at $1.1053 after hitting a 3-1/2 month low of $1.0909 on Friday.

For a full report, double click on USD/

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TREASURIES

NEW YORK - U.S. Treasury prices held steady on Tuesday as worries about sluggish economic growth countered relief from a recovery in stock markets around the globe which were crushed following Britain's vote to leave the European Union.

Benchmark 10-year notes US10YT=RR were little changed in price to yield 1.461 percent. The 10-year yield hit a near four-year low of 1.406 percent on Friday, Reuters data showed.

For a full report, double click on US/

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COMMODITIES

GOLD

NEW YORK - Gold fell more than 1 percent on Tuesday as buyers cashed in gains from the biggest two-day rally in the metal since late 2008, made in the wake of Britain's shock vote to leave the European Union last week.

Spot gold XAU= was down 1 percent at $1,311.60 an ounce at 3:15 p.m. EDT (1915 GMT), off an earlier low of $1,305.23. Bullion was on track to finish June up 8 percent and the second quarter up more than 6 percent.

For a full report, double click on GOL/

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BASE METALS

LONDON - Copper prices climbed to their highest in more than seven weeks on Tuesday, boosted by growing expectations of monetary stimulus and a weaker dollar, but worries about demand in top consumer China are expected to limit gains.

Benchmark copper CMCU3 on the London Metal Exchange ended up 2.3 percent at $4,818 a tonne. Earlier on Tuesday, it touched $4,830, its highest since May 5.

For a full report, double click on MET/L

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OIL

NEW YORK - Oil prices settled up 3 percent or more on Tuesday with investors buying back into the market after a two-day rout triggered by Britain's vote to leave the European Union.

Brent crude futures LCOc1 settled up 3 percent, or $1.42, at $48.58 per barrel. U.S. crude CLc1 rose 3.3 percent, or $1.52, to settle at $47.85.

For a full report, double click on O/R

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