New Zealand/Australia Morning Call-Global markets

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Stock Markets S&P/ASX 200 5,384.20 -29.64 NZSX 50 5,096.53 -5.41 DJIA 16,334.99 -16.26 Nikkei 14,830.39 -393.72 NASDAQ 4,320.81 +13.62 FTSE 6,620.90 -64.62 S&P 500 1,866.95 -0.68 Hang Seng 21,901.95 -367.66 SPI 200 Fut 5,368.00 -5.00 TRJCRB Index 302.97 -1.96

Bonds AU 10 YR Bond 4.130 -0.067 US 10 YR Bond 2.730 -0.036 NZ 10 YR Bond 4.635 +0.000 US 30 YR Bond 3.670 -0.038

Currencies (Prev at 7pm NZST) AUD US$ 0.8979 0.8955 NZD US$ 0.8475 0.8468 EUR US$ 1.3900 1.3856 Yen US$ 102.70 102.90

Commodities Gold (Lon) 1366.00 Silver (Lon) 20.970 Gold (NY) 1349.34 Light Crude 97.97 ----------------------------------------------------------------

Overnight market action with latest New York figures.

EQUITIES

NEW YORK - U.S. stocks were little changed on Wednesday, as equities recouped much of their earlier declines amid signs of progress in diplomatic attempts to ease tensions surrounding Ukraine.

The Dow Jones industrial average .DJI fell 14.54 points, or 0.09 percent, to 16,336.71, the S&P 500 .SPX lost 2.16 points, or 0.12 percent, to 1,865.47 and the Nasdaq Composite

.IXIC added 6.291 points, or 0.15 percent, to 4,313.478.

For a full report, double click on Href="NewsSearch">.N

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LONDON - Britain's top share index fell to a one-month low on Wednesday, led down by G4S after the security firm agreed a settlement with the government over an offenders' tagging scandal.

The UK benchmark .FTSE , which had fallen in the last three sessions, ended down 64.62 points, or 1 percent, at 6,620.90 points, its lowest close since February 10.

For a full report, double click on Href="NewsSearch">.L

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TOKYO - Japan's Nikkei share average fell to a one-week low on Wednesday as investors locked in profits after a recent rally and as caution over Chinese demand continued to hurt such commodity-related shares such as mining and metal companies.

The Nikkei .N225 ended 2.6 percent lower at 14,830.39 points, the lowest closing level since March 4, and the biggest daily drop in more than a month. It had hit a five-week high of 15,312.60 last Friday.

The broader Topix .TOPX index shed 2.1 percent to 1,206.94, with all of its 33 subindexes in negative territory.

For a full report, double click on Href="NewsSearch">.T

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FOREIGN EXCHANGE

NEW YORK - Emerging market currencies fell on Wednesday as investor nervousness over China's economy and Ukraine's future intensified, rekindling safe-haven bids for the yen and the Swiss franc.

The yen, steadier so far this year after losing a fifth of its value against the dollar in 2013, was holding strong in early U.S. trading, up 0.3 percent against the dollar at 102.75 yen JPY=EBS . It was up nearly 0.1 percent against the euro at 142.675 yen EURJPY=EBS .

For a full report, double click on Href="NewsSearch">USD/

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TREASURIES

NEW YORK - U.S. Treasuries prices rose in safe-haven bids on Wednesday as worries surrounding the health of China's economy overshadowed the U.S. government's upcoming auction of 10-year Treasury notes.

The 10-year U.S. Treasury note US10YT=RR last traded up 9/32 in price to yield 2.734 percent, up in price from a yield of 2.766 percent late on Tuesday. Bond yields move inversely to their prices.

For a full report, double click on Href="NewsSearch">US/

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COMMODITIES

GOLD

NEW YORK - Gold hit a near six-month high on Wednesday, as fears of more corporate defaults in China and the geopolitical tug-of-war between Russia, Ukraine and the West hurt equity markets, boosting the metal's appeal as an insurance against risk.

Spot gold XAU= rose as much as 1.4 percent to its highest since Sept. 19 at $1,368.40 an ounce in earlier trading and was up 1.2 percent at $1,365.50 an ounce by 1457 GMT.

U.S. gold futures GCcv1 also rose to a near six-month high of $1,369.00 an ounce, before trading at $1,365.70, up 1.4 percent.

For a full report, double click on Href="NewsSearch">GOL/

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BASE METALS

LONDON - Copper rebounded from earlier losses on Wednesday as a sell-off triggered by concerns about the impact of credit problems in China was considered overdone, but further gains were capped by lingering worries about the outlook for demand.

Three-month copper on the London Metal Exchange (LME) ended at $6,505 a tonne, up 0.5 percent from Tuesday's close.

For a full report, double click on Href="NewsSearch">MET/L

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OIL

LONDON - Brent crude eased towards $108 a barrel on Wednesday as investors weighed prospects for shrinking fuel demand in the world's two biggest oil consumers and on plans for a test oil release from U.S. strategic reserves.

News of Washington's plans for a test sale from its emergency crude oil reserve added pressure. News Search ID:nL2N0M911Y U.S. crude CLc1 lost $1.57 to trade at $98.46 a barrel by 1506 GMT. Brent crude LCOc1 lost 26 cents to $108.29 a barrel.

For a full report, double click on O/R

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