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RPT-New Zealand/Australia Morning Call-Global markets

Published 22/08/2016, 05:30 am
© Reuters.  RPT-New Zealand/Australia Morning Call-Global markets
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(Repeats to additional subscribers) Overnight market action with latest New York figures.

EQUITIES

NEW YORK - U.S. stocks edged lower on Friday, led by declines in utility shares as investors weighed prospects for an interest rate increase in the coming months. The Dow Jones industrial average .DJI ended down 45.13 points, or 0.24 percent, to 18,552.57, the S&P 500 .SPX lost 3.15 points, or 0.14 percent, to close at 2,183.87 and the Nasdaq Composite .IXIC dropped 1.77 points, or 0.03 percent, to 5,238.38.

For a full report, double click on .N

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LONDON - Britain's top shares index fell on Friday to post its worst weekly drop since mid-June as its earlier rally up to 14-month highs stalled, with mining stocks hit by weaker copper prices.

Britain's FTSE 100 .FTSE ended down 0.2 percent at 6,858.95 points, taking its total fall for the week to 0.8 percent. This marked its biggest weekly decline since mid-June, before Britain voted to leave the European Union.

For a full report, double click on .L

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TOKYO - Japan's Nikkei share average edged higher on Friday as the strong yen trend paused, soothing investors, but gains were limited as many stayed cautious before next week's global meeting of central bankers.

The broader Topix .TOPX on Friday added 0.4 percent to 1,295.67 and the JPX-Nikkei Index 400 .JPXNK400 advanced 0.3 percent to 11,653.93.

For a full report, double click on .T

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FOREIGN EXCHANGE

NEW YORK - The U.S. dollar rebounded from nearly eight-week lows against the euro and Swiss franc on Friday a day after a top Federal Reserve official joined a growing chorus signaling support for a U.S. interest rate hike in coming months.

While the dollar index, which measures the greenback against a basket of six major rivals, was last up 0.37 percent at 94.508 .DXY , it remained on track for a 1.3 percent decline for the week given the earlier skepticism over a 2016 Fed rate hike. That would mark its second straight week of losses.

For a full report, double click on USD/

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TREASURIES

NEW YORK - U.S. Treasury prices fell on Friday as traders booked profits in advance of government debt auctions next week and a marquee annual meeting of global central bankers at which Federal Reserve Chair Janet Yellen is scheduled to speak.

Benchmark 10-year Treasury notes US10YT=RR were down 13/32 in price for a yield of 1.582 percent, up 5 basis points from late on Thursday, while the 30-year bond US30YT=RR was 19/32 lower to yield 2.288 percent, up 3 basis points.

For a full report, double click on US/

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COMMODITIES

GOLD

NEW YORK - Gold fell more than 1 percent on Friday, snapping a four-day streak of gains following conflicting signals from U.S. Federal Reserve officials on the timing of a possible rate hike, but was still on track for its second straight week higher.

Spot gold XAU= fell as much as 1.5 percent to a session low of $1,337.37 per ounce, paring losses by 2:57 p.m. EDT (1857 GMT) when it was down 0.7 pct at $1,342.62. The yellow metal was still heading for a weekly gain of around 0.6 percent.

For a full report, double click on GOL/

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BASE METALS

LONDON - Copper and other industrial metals slumped on Friday in low volumes, pressured by a firmer dollar together with retreating stock and oil markets.

Benchmark copper CMCU3 on the London Metal Exchange closed down 0.3 percent to $4,798 a tonne after rising 0.8 percent on Thursday and touching a one-month low on Monday.

For a full report, double click on MET/L

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OIL

NEW YORK - Oil prices settled steady to higher on Friday, with U.S. crude posting its biggest weekly gain since March after surging nearly 25 percent in a little over two weeks, a rally analysts cautioned was not justified by fundamentals.

Brent crude LCOc1 closed just a penny lower at $50.88 a barrel, after scaling a two-month high at $51.22. Brent rose 8 percent on the week, rising for a third week in a row.

For a full report, double click on O/R

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