February 12, 2015 / 2:57 AM / 3 years ago

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stock futures rose late on Wednesday after Europe agreed on a way forward with Greece on debt negotiations that had been holding back U.S. investors worried about European stability.

The S&P 500 index had finished the regular session unchanged on Wednesday as investors were worried about making big bets while they waited for the outcome of the Greece talks.

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LONDON - Britain's top equity index fell for a fourth straight session on Wednesday, with commodity shares losing ground after crude oil prices dropped and copper prices trimmed gains.

The UK Oil and Gas index fell 0.6 percent after crude dropped 2.3 percent on expectations of persistent oversupply, a stronger dollar and a report showing U.S. crude stockpiles at a record high.

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TOKYO - Japan's Nikkei share average hit a two-month high on Thursday as the weak yen boosted exporters such as Toyota Motor Corp and Sony Corp, while investors cautiously awaited the outcome of Greek debt negotiations.

Fanuc Corp soared 3.7 percent to a record high after the Nikkei business daily reported that Third Point bought a stake in the industrial robot maker.

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HONG KONG - Hang Seng Index trading down 0.2 percent.

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FOREIGN EXCHANGE

SYDNEY - The euro took a dip early in Asia on Thursday, buffeted by a barrage of conflicting headlines that left investors no clearer on whether Greece may yet secure a new debt agreement with its European lenders.

The common currency eased to 135.95 yen, having earlier scaled a three-week peak of 136.70. It also slipped to $1.1314 from a high of $1.1353. On the sterling, it pulled back to 74.19 pence, but held above a seven-year trough of 73.83.

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TREASURIES

NEW YORK - U.S. Treasury debt prices reversed early gains and turned lower on Wednesday after a news report that Greece had reached an agreement in principle with euro zone countries over its finances.

The benchmark 10-year Treasury, which was up in earlier trading, was last off 8/32 and yielding 2.021 percent after touching a high yield for the session in late trading of 2.028 percent.

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COMMODITY

GOLD

SINGAPORE - Gold edged higher on Thursday, after earlier dropping to a five-week low, as confusion over Greece's debt negotiations with its European lenders dominated markets, drumming up some safe-haven bids for the metal.

Spot gold fell to $1,216.45 an ounce, its lowest since Jan. 9, before recovering to trade up 0.2 percent at $1,220.60 by 0046 GMT.

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BASE METALS

LONDON - London copper slipped in thin trade on Thursday on growing worries that a renewed Greek debt crisis could jolt the euro zone, while trade in general flattened out as demand slowed ahead of the Lunar New Year.

Three-month copper on the London Metal Exchange had edged down around 0.2 percent to $5,590 a tonne by 0156 GMT, after finishing flat in the previous session. A rebound in prices from 5-1/2 year lows of $5,339.50 tipped in late January has lost steam ahead of Lunar Year which begins Feb. 19.

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OIL

NEW YORK - Oil prices fell as much as 3 percent on Wednesday after U.S. stockpiles hit record highs, and analysts and traders said the market could shed more of a two-week rebound that was spurred by expectations of lower output.

U.S. crude stocks rose by almost 5 million barrels last week to reach nearly 418 million barrels, the highest since 1982, when records started being kept, government data showed. Analysts polled by Reuters had forecast a build of nearly 4 million barrels.

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---- (Compiled by Dipika Lalwani)

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