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

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    Snapshot at: 07:48 / 2148 GMT  
    
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    Stock Markets		   NetChng						  NetChng  
    S&P/ASX 200	5,388.54  +35.32  NZSX 50		 7,064.3   -15.1  
    DJIA		  18,372.12  +24.45  Nikkei		16,231.43 +135.78  
    NASDAQ		 5,005.73  -17.09  FTSE		   6,670.40  -10.29  
    S&P 500		2,152.43   +0.29  Hang Seng	 21,322.37  +97.63  
    SPI 200 Fut	5,357.00   +8.00  STI			2,910.65   +8.83  
    SSEC		   3,060.21  +10.83  
    
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    Bonds					NetChg						   NetChg  
    AU 10 YR Bond	 1.959  -0.027  US 10 YR Bond	 1.473  -0.040  
    NZ 10 YR Bond	 2.340  -0.005  US 30 YR Bond	 2.171  -0.062  
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    Currencies			  1700GMT						  1700GMT  
    AUD US$		  0.7604  0.7587  NZD US$		  0.7270  0.7247  
    EUR US$		  1.1085  1.1057  Yen US$		  104.40  104.26  
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    Commodities  
    
    Gold (Lon)	 1,342.75		  Silver (Lon)	  20.34  
    Gold (NY)	  1,331.25		  Light Crude	   44.75  
    TRJCRB Index	 188.59   -1.64  
    
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     Overnight market action with latest New York figures.  
    

    EQUITIES NEW YORK - U.S. stocks ticked up on Wednesday, just enough for the S&P 500 and Dow industrials to set record highs, with investors expecting upbeat earnings to keep the rally going.

    The Dow Jones industrial average .DJI rose 24.45 points, or 0.13 percent, to 18,372.12; the S&P 500 .SPX ticked up 0.29 points, or 0.01 percent, to 2,152.43 and the Nasdaq Composite .IXIC fell 17.09 points, or 0.34 percent, to 5,005.73.

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    	LONDON -  Britain's top share index edged lower on Wednesday  
    

    after climbing to an 11-month high in the previous session, with housebuilders giving up some of their recent gains and energy shares dragged lower by weaker oil prices.

    The internationally-exposed FTSE 100 index .FTSE was down 0.2 percent at its close, while the mid-cap index .FTMC , dominated by domestically-focused companies, was flat in percentage terms.

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    	TOKYO - Japan's Nikkei  .N225  hit one-month intraday high  
    

    before ending up 0.8 percent at 16,231.43, bringing its gains since Prime Minister Shinzo Abe's election victory on Sunday to 7.4 percent.

    The broader Topix .TOPX gained 1.1 percent to 1,300.26 but Topix small caps .TOPXS rose just 0.6 percent.

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    	SYDNEY - Australian shares are set to open cautiously on  
    

    Thursday after five straight days of gains, as the market digests weaker than expected June trade data from China, Australia's biggest trading partner, and a slide in oil prices.

    Local share price index futures YAPcm1 inched up 0.1 percent to finish at a 31.5-point discount to the underlying S&P/ASX 200 index (xjo) . The benchmark rose 0.7 percent to 5,388.5 on Wednesday.

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    	FOREIGN EXCHANGE   
    

    NEW YORK - The U.S. dollar fell on Wednesday as risk appetite receded after big moves earlier in the week and following the Bank of Canada's decision to hold interest rates steady, which may provide clues about future central bank action.

    The dollar fell 0.3 percent against the yen JPY= on Wednesday to 104.39 yen. It hit a session low overnight of 103.95 yen shortly after Chief Cabinet Secretary Yoshihide Suga said Japan was not considering "helicopter money," a policy in which governments give money directly to citizens to stimulate the economy.

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    	TREASURIES   
    

    NEW YORK - U.S. Treasury prices gained on Wednesday after a two-day selloff raised yields enough to lure buyers, and also helped the U.S. government sell long-dated debt to strong demand.

    Benchmark 10-year notes US10YT=RR ended up 14/32 in price to yield 1.468 percent, down from 1.513 percent on Tuesday.

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    	COMMODITIES   
    

    GOLD NEW YORK - Gold rose 1 percent on Wednesday, recovering from its lowest in nearly two weeks, as prospects for further economic stimulus helped to bolster investor appetite while the dollar remained flat.

    Spot gold XAU= was up 0.8 percent at $1,342.41 an ounce by 3:20 p.m. EDT (1920 GMT), having earlier touched $1,327.30, its lowest since July 1. Bullion had fallen by 1.7 percent on Tuesday, its biggest one-day drop since May 24.

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    	BASE METALS  
    

    LONDON - Copper surged through $5,000 a tonne on Wednesday to its highest since late April as its imports to top consumer China remained solid in June and as investors bet Beijing will stimulate its economy further.

    London Metal Exchange copper CMCU3 jumped as high as $5,032 a tonne, its strongest since April 29, before ending at $4,938, up 1.4 percent.

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    	OIL  
    

    NEW YORK - Oil markets tumbled more than 4 percent on Wednesday, erasing most of the previous session's gain, as a raft of bearish U.S. inventory data heightened concerns about a global glut.

    Brent crude LCOc1 settled down $2.21, or 4.6 percent, at $46.26 a barrel. U.S. crude CLc1 fell $2.05, or 4.4 percent, to close at $44.75.

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

    7980))

 
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