October 20, 2014 / 3:12 AM / 3 years ago

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stocks extended their rebound from this month's bruising selloff on Friday, giving the S&P 500 its best day in over a week, as worries about the U.S. earnings outlook eased, but the S&P 500 still posted its fourth straight week of declines.

The Dow Jones industrial average rose 263.17 points, or 1.63 percent, to 16,380.41, the S&P 500 gained 24 points, or 1.29 percent, to 1,886.76 and the Nasdaq Composite added 41.05 points, or 0.97 percent, to 4,258.44.

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LONDON - Britain's top equity index rebounded from 15-month lows on Friday as concerns eased over the state of the U.S. economy, while Tullow Oil benefited from a broker upgrade.

The blue-chip FTSE 100 index, which had fallen some 5 percent in the first four days of this week to reach 15-month lows, closed up by 1.9 percent at 6,310.29 points.

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TOKYO - Japan's Nikkei share average soared 3.3 percent on Monday morning and is on track to post the biggest daily rise in more than a year after Wall Street took heart on Friday from upbeat U.S. data, while the weaker yen lifted exporters such as Toyota Motor Corp and Honda Motor Co.

The Nikkei share average rose 482.98 points to 15,015.49 in mid-morning trade to recover most of the losses posted last week

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HONG KONG - Hang Seng Index is trading 0.48 percent higher.

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FOREIGN EXCHANGE

SYDNEY - The dollar gained on Monday after upbeat data restored some calm to the financial markets, prompting equities to rally back from deep losses and triggering a rise in Treasury yields.

The greenback got a further lift against the yen after reports that Japan's $1.2 trillion Government Pension Investment Fund (GPIF) could boost foreign asset holdings, seen spurring demand for foreign currencies.

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TREASURIES

NEW YORK - U.S. Treasuries prices fell on Friday for a second straight day, reversing a rally earlier in the week, as a gauge of American consumer attitudes jumped and U.S. and European stock markets rose.

Benchmark 10-year notes, which rose in price by as much as 3 points on Wednesday on fears over the global economy, were last off 10/32 on Friday to yield 2.190 percent after touching a high of 2.229 percent.

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COMMODITIES

GOLD

SINGAPORE - Gold ticked lower on Monday after two straight weekly gains, with strong U.S. economic data allaying fears over a slowdown in the global economy, supporting equities and dimming bullion's safe-haven appeal.

Spot gold had eased 0.2 percent to $1,235.20 an ounce by 0030 GMT, slipping for a third session. The metal has gained nearly 4 percent in the past two weeks and hit a one-month high of $1,249.30 on Wednesday.

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BASE METALS

SYDNEY - London copper inched down on Monday after climbing in the last session from its lowest in around six months, hit by worries over the end of U.S. stimulus.

Three-month copper on the London Metal Exchange had dropped 0.14 percent to $6,631.75 by 0111 GMT, after closing the Friday session at $6,640.00.

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OIL

NEW YORK - Oil prices rose slightly on Friday, bouncing from near four-year lows even while marking a fourth straight weekly loss, as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk.

Brent for December rose 34 cents to settle at $86.16 a barrel. The November Brent contract expired on Thursday.

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