Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

UPDATE 1-New Zealand/Australia Morning Call-Global markets

Published 13/05/2016, 07:24 am
© Reuters.  UPDATE 1-New Zealand/Australia Morning Call-Global markets
USD/JPY
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UK100
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XAU/USD
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US500
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DJI
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AXJO
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JP225
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HK50
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AAPL
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TM
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---------------------------------------------------------------- Snapshot at: 07:22 / 2122 GMT ---------------------------------------------------------------- Stock Markets

NetChng

NetChng S&P/ASX 200

5,359.30 -12.99 NZSX 50

6,923.17 -21.17 DJIA

17,720.50 +9.38 Nikkei

16,646.34 +67.33 NASDAQ

4,737.33 -23.35 FTSE

6,104.19 -58.30 S&P 500

2,064.11 -0.35 Hang Seng

19,915.46 -139.83 SPI 200 Fut

5,358.00 -11.00 STI

2,745.39 +12.52 SSEC

2,836.74 -0.30 ---------------------------------------------------------------- Bonds

NetChg

NetChg AU 10 YR Bond

2.330 +0.035 US 10 YR Bond

1.748 +0.019 NZ 10 YR Bond

2.680 +0.045 US 30 YR Bond

2.594 +0.013 ---------------------------------------------------------------- Currencies

1700GMT

1700GMT AUD US$

0.7319 0.7323 NZD US$

0.6818 0.6819 EUR US$

1.1373 1.1409 Yen US$

109.06 108.97 ---------------------------------------------------------------- Commodities Gold (Lon)

1,279.25

Silver (Lon)

16.96 Gold (NY)

1,277.31

Light Crude

46.39 TRJCRB Index

183.65 +0.31 ----------------------------------------------------------------

EQUITIES

NEW YORK - U.S. stocks ended mixed on Thursday, with gains in telecommunications and consumer staples helping make up for a tumble in Apple to a two-year low.

Apple Inc AAPL.O , a mainstay in many portfolios, was the heaviest drag on the three major indexes, slumping 2.35 percent to $90.34, its lowest since June 2014, as worries festered about slowing demand for iPhones.

The Dow Jones industrial average .DJI finished 0.05 percent higher at 17,720.5 points and the S&P 500 .SPX ended down 0.02 percent at 2,064.11. The Nasdaq Composite .IXIC fell 0.49 percent to 4,737.33.

For a full report, double click on .N

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LONDON - Britain's top share index fell on Thursday in choppy trade, pulled lower by declines among mining companies and major firms trading without the attraction of their latest dividend payouts.

The FTSE 100 index .FTSE was down 1 percent at 6,104.19 points at its close, reversing oil-related gains made earlier on in the session.

For a full report, double click on .L

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TOKYO - Japan's Nikkei rose for a fourth straight day on Thursday after the yen weakened, but gains were capped by dismal earnings from companies such as Toyota Motor Corp 7203.T .

The Nikkei share average .N225 gained 0.4 percent to 16,646.34 points, the highest closing level since April 28.

The broader Topix .TOPX added 0.2 percent to 1,337.27 and the JPX-Nikkei Index 400 .JPXNK400 advanced 0.2 percent to 12,087.30.

For a full report, double click on .T

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SYDNEY - Australian stocks are poised for a lacklustre start on Friday following a subdued performance on Wall Street and mixed action in commodity markets.

Pointing to a flat open, stock index futures YAPcm1 edged down 0.2 percent to 5,358.0, a small discount to the underlying benchmark S&P/ASX 200 index .AXJO which ended 0.2 percent lower at 5,359.3 on Thursday.

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FOREIGN EXCHANGE

NEW YORK - The yen fell to a two-week low against the dollar on Thursday, pressured by speculation that the Bank of Japan could expand its monetary stimulus as soon as next month.

The dollar rose 0.6 percent to 109.06 yen JPY= in late trading, after earlier hitting a two-week peak of 109.39 yen and recovering from a 18-month low of 105.55 yen on May 3. That low was struck after the BOJ held off from expanding its monetary stimulus in late April.

For a full report, double click on USD/

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TREASURIES

NEW YORK - U.S. Treasury prices fell on Thursday after a Federal Reserve official said the U.S. central bank should raise interest rates if data confirms a stronger jobs market and inflation outlook in the second quarter, noting that markets are too pessimistic on the economy.

Benchmark 10-year notes US10YT=RR ended down 9/32 in price to yield 1.76 percent, up from 1.73 percent late on Wednesday. The yields have fallen from 1.94 percent on April 26.

For a full report, double click on US/

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COMMODITIES

GOLD

NEW YORK - Gold fell on Thursday as a strengthening dollar prompted some buyers to cash in gains after its biggest daily rise this month.

Spot gold XAU= was down 0.6 percent at $1,269.76 an ounce at 1844 GMT. The metal had touched a 15-month high last week at $1,303.60, before slipping back below $1,300. U.S. gold futures for June delivery GCv1 settled down 0.3 percent at $1,271.20.

For a full report, double click on GOL/

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BASE METALS

LONDON - Copper slid to the weakest levels in 2-1/2 months on Thursday on worries about global demand for industrial metals after worse-than-expected data on U.S. jobs and European industrial output.

Three-month copper on the London Metal Exchange CMCU3 closed down 2 percent at $4,613 a tonne after touching a low of $4,600, the weakest since Feb. 25.

For a full report, double click on MET/L

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OIL

NEW YORK - Oil prices rose 1 percent in volatile trade on Thursday, with U.S. crude hitting six-month highs as investors weighed a forecast for tighter global supplies against signs of another storage build at the hub for U.S. crude futures.

Brent crude futures LCOc1 settled up 48 cents at $48.08 per barrel. U.S. crude's West Texas Intermediate (WTI) futures CLc1 rose 47 cents to settle at $46.70. It hit a six-month high of $47.02.

For a full report, double click on O/R

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