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

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  1. ----------------------------------------------------------------  
    Snapshot at: 07:25 / 2025 GMT  
    Stock Markets           NetChng                          NetChng  
    S&P/ASX 200    5,778.91  -20.74  NZSX 50        7,057.05 -101.09  
    DJIA          20,905.86   -8.76  Nikkei        19,521.59  -68.55  
    NASDAQ         5,901.53   +0.53  FTSE           7,429.81   +4.85  
    S&P 500        2,373.47   -4.78  Hang Seng     24,501.99 +192.06  
    SPI 200 Fut    5,755.00  -11.00  STI            3,165.70   -3.68  
    SSEC           3,250.52  +13.08  
    Bonds                    NetChg                           NetChg  
    AU 10 YR Bond     2.826  +0.002  US 10 YR Bond     2.463  -0.037  
    NZ 10 YR Bond     3.240  -0.015  US 30 YR Bond     3.076  -0.035  
    Currencies              1700GMT                          1700GMT  
    AUD US$          0.7732  0.7726  NZD US$          0.7053  0.7044  
    EUR US$          1.0739  1.0768  Yen US$          112.50  112.66  
    Gold (Lon)     1,232.40          Silver (Lon)      17.42  
    Gold (NY)      1,228.40          Light Crude       48.17  
    TRJCRB Index     184.78   +0.30  
     Overnight market action with latest New York figures.  

    EQUITIES NEW YORK - The S&P 500 fell on Monday as investors worried that President Donald Trump's plan to cut taxes and boost the economy could take longer than previously expected.

    The Dow Jones Industrial Average .DJI fell 8.42 points, or 0.04 percent, to 20,906.2, the S&P 500 .SPX lost 4.79 points, or 0.20 percent, to 2,373.46 and the Nasdaq Composite .IXIC added 0.53 points, or 0.01 percent, to 5,901.53.

        - - - -   
        LONDON - Britain's top share index inched higher to set a  

    record closing level on Monday, as falling energy stocks and banks were outweighed by rising consumer staples stocks.

    The blue chip FTSE 100 .FTSE index was up 0.1 percent, slipping from the record 7,447.00 points reached in the previous session, but reaching a record close of 7,429.45 points, as investors digested the government's setting the date to open formal negotiations to exit the European Union.

        - - - -   
        TOKYO - Japan's Nikkei share average fell on Friday as the  

    yen held steady against the dollar after the U.S. Federal Reserve signalled fewer interest rate hikes than some investors had expected.

    The Nikkei .N225 shed 0.4 percent to 19,521.59. For the week, the benchmark index dropped 0.4 percent, before Japan's three-day weekend. Markets are closed on Monday for a national holiday.

        - - - -   
        SYDNEY - Australian shares are set to open a touch lower on  

    Tuesday, taking a breather on gains last week, with a falling U.S. dollar weighing on companies reliant on U.S. earnings.

    Local share price index futures YAPcm1 slipped 0.2 percent to 5,755.0, a 23.9-point discount to the underlying S&P/ASX 200 index (xjo) close. The benchmark fell 0.4 percent on Monday.

        - - - -  

    NEW YORK - The dollar hovered near a six-week low against a basket of currencies on Monday, weighed down by last week's interest-rate guidance from the U.S. Federal Reserve that was less "hawkish" than many had expected.

    The dollar index .DXY fell by as much as 0.3 percent in Asian and early European trading before reversing losses to trade up 0.1 percent on the day at 100.40.

        - - - -   

    NEW YORK - U.S. Treasury prices gained on Monday as Chicago Federal Reserve President Charles Evans reiterated the U.S. central bank's view that two more interest rate hikes this year are likely, disappointing investors who had anticipated a faster path of rate increases.

    Benchmark 10-year notes US10YT=RR were last up 7/32 in price to yield 2.48 percent, down from 2.50 percent on Friday.

        - - - -   

    GOLD NEW YORK/LONDON - Gold prices edged higher to a two-week peak on Monday as the dollar slid to a six-week low after a G20 weekend summit dominated by the U.S. administration's protectionist stance.

    Spot gold XAU= rose 0.44 percent to $1,233.92 an ounce by 2:14 EDT (1814 GMT), after touching $1,235.50, its highest since March 6.

    U.S. gold futures GCcv1 gained 0.3 percent to settle at $1,234.00.

        - - - -   
        BASE METALS  

    LONDON - Copper prices slipped on Monday as worries about demand from top consumer China were reinforced by expectations of ample supplies and higher inventories in exchange-monitored warehouses.

    Benchmark copper CMCU3 on the London Metal Exchange ended down 0.9 percent at $5,880 a tonne, having last week touched $5,948.50, its highest since March 6.

        - - - -   

    NEW YORK - Oil prices slipped on Monday, despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S. oil output and high inventories.

    Brent crude futures LCOc1 settled at $51.62 a barrel, down 14 cents. U.S. West Texas Intermediate (WTI) crude futures CLc1 settled down 56 cents, or 1.2 percent, to $48.22 a barrel.

        - - - -  
    ((Australia/New Zealand bureaux; +61 2 9321 8150/+64 4 802  


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