New Zealand/Australia Morning Call-Global markets

Reuters

-----------------------(07:15 / 1815 GMT)-----------------------

Stock Markets

S&P/ASX 200 5,401.67 +46.24 NZSX 50 4,914.08 -13.10

DJIA 15,961.70 +85.48 Nikkei 15,165.92 +289.51

NASDAQ 3,985.97 +13.23 FTSE 6,693.44 +27.31

S&P 500 1,798.18 +7.56 Hang Seng 23,032.15 +383.00

SPI 200 Fut 5,409.00 +0.00 TRJCRB Index 274.34 +0.49

Bonds

AU 10 YR Bond 4.185 -0.026 US 10 YR Bond 2.703 +0.000

NZ 10 YR Bond 4.735 +0.000 US 30 YR Bond 3.796 +0.000

Currencies (Prev at 7pm NZST)

AUD US$ 0.9362 0.9346 NZD US$ 0.8325 0.8291

EUR US$ 1.3498 1.3461 Yen US$ 100.08 100.08

Commodities

Gold (Lon) 1287.25 Silver (Lon) 20.635

Gold (NY) 1290.10 Light Crude 93.84

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Overnight market action with latest New York figures.

EQUITIES

NEW YORK - The Dow and the S&P 500 hit new highs on Friday

for a sixth straight week of gains, as investors continued to

take cues from Federal Reserve Chair nominee Janet Yellen, who

told a Senate Committee it was too early to end the central

bank's stimulus.

The Dow Jones industrial average was up 85.48 points,

or 0.54 percent, at 15,961.70. The Standard & Poor's 500 Index

was up 7.56 points, or 0.42 percent, at 1,798.18. The

Nasdaq Composite Index was up 13.23 points, or 0.33

percent, at 3,985.97.

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LONDON - Britain's top shares rose on Friday, bolstered by

the prospect of continued U.S. monetary stimulus and technical

support, with energy stocks and miners posting the biggest

gains.

London's blue chip index gained 27.31 points, or 0.4

percent, to 6,693.44, after the Federal Reserve's

chairman-designate Janet Yellen defended the bank's quantitative

easing programme (QE), dispelling concerns about an early

reduction of the asset purchases.

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TOKYO - A slide in the yen spurred Tokyo's Nikkei share

average 2 percent higher on Friday to above 15,000 for the first

time in six months, helping the benchmark post its best weekly

rise in four years.

Gains in financial companies on strong quarterly earnings

also boosted the Nikkei, which rose 289.51 to end at

15,165.92 and was up 7.7 percent for the week.

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FOREIGN EXCHANGE

NEW YORK - The safe-haven dollar and yen fell on Friday

after Federal Reserve Vice Chair Janet Yellen lifted investor

appetite for riskier assets by defending the U.S. central bank's

current stimulus measures.

The dollar index fell 0.2 percent to 80.83. On the

week, the dollar index was down 0.6 percent, its weakest weekly

performance since Oct. 18.

The euro was up 0.3 percent at $1.3494, after

touching $1.3505, its highest since Nov. 7. It gained 0.8

percent against the dollar this week.

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TREASURIES

NEW YORK - U.S. Treasury debt prices were little changed on

Friday after the fading of a rally sparked by Federal Reserve

Chair nominee Janet Yellen, who said the U.S. central bank will

likely cling to its stimulative monetary policy.

On light trading volume, prices of benchmark 10-year

Treasury notes were little changed on the day at

100-13/32 to yield 2.703 percent, while the 30-year bond

was up 2/32 in price at 99-6/32 for a yield of 3.797

percent.

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COMMODITIES

GOLD

NEW YORK - Gold prices were little changed on Friday, taking

a breather after a two-day rise but underpinned by expectations

that the nominee to lead the Federal Reserve, Janet Yellen,

would continue easy monetary policy in that role.

Spot gold inched down 10 cents to $1,286.91 an ounce

by 1:57 p.m. EST (1857 GMT), after gaining nearly 1 percent in

each of the previous two sessions.

U.S. Comex gold futures settled up $1.10 at

$1,287.40 an ounce, with trading volume on track to finish

sharply below its 250-day average, preliminary Reuters data

showed.

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BASE METALS

LONDON - Copper hovered near three-month lows on Friday on

persistent worries about the tapering of monetary stimulus in

the United States and after data showed a slowdown in

infrastructure spending in the Chinese power sector.

Three-month copper on the London Metal Exchange

closed at $7,010 a tonne from $6,992 at the close on Thursday.

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OIL

NEW YORK - Oil rose slightly on Friday in choppy trade as

markets weighed Libyan supply outages and supportive comments

from the Fed chair nominee against reports that a deal with Iran

may be near on its nuclear program.

Brent crude for January delivery, in its first day

as the new front-month, ended 22 cents higher at $108.50 a

barrel, after trading as high as $108.65.

U.S. crude ended up 9 cents at $93.84 a barrel after

trading up to $94.55. It ended with its sixth straight week of

losses as supplies remain high. The December U.S. crude oil

futures contract expires at the end of trading on Wednesday.

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