New Zealand/Australia Morning Call-Global markets

(Add Australian stock market trend, update numbers throughout) -----------------------(06:46 / 1946 GMT)---------------------- Stock Markets S&P/ASX 200 5,070.30 -26.78 NZSX 50 4,807.9 -5.32

DJIA 15,450.61 +5.37 Nikkei 14,180.38 +171.91 NASDAQ 4,017.09 -14.43 FTSE 6,457.89 +8.62 S&P 500 1,752.38 -2.82 Hang Seng 21,397.77 -128.39 SPI 200 Fut 5,028.00 +10.00 TRJCRB Index 287.11 +0.67

Bonds (Yield) AU 10 YR Bond 4.010 -0.050 US 10 YR Bond 2.671 +0.047 NZ 10 YR Bond 4.550 +0.000 US 30 YR Bond 3.654 +0.060

Currencies (Prev at 7pm NZST) AUD US$ 0.8910 0.8904 NZD US$ 0.8214 0.8216 EUR US$ 1.3531 1.3504 Yen US$ 101.40 101.32

Commodities

Gold (Lon) 1254.50 Silver (Lon) 19.630

Gold (NY) 1254.60 Light Crude 97.40 ---------------------------------------------------------------

Overnight market action with latest New York figures.

EQUITIES

NEW YORK - U.S. stocks bounced off a technical support level on Wednesday, after the S&P 500 hit its lowest level since mid-October, although mixed data gave investors few reasons to buy equities.

The Dow Jones industrial average .DJI rose 13.52 points or 0.09 percent, to 15,458.76, the S&P 500 .SPX lost 1.44 points or 0.08 percent, to 1,753.76 and the Nasdaq Composite .IXIC added 11.65 points or 0.29 percent, to 4,019.87.

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

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LONDON - Britain's top equity index snapped a five-day losing streak on Wednesday, lifted by rallies in insurer RSA

RSA.L and pharma group GlaxoSmithKline GSK.L .

The blue-chip FTSE 100 index .FTSE closed up 0.1 percent, or 8.62 points, at 6,457.89 points, steadying after it shed nearly 2 percent in the previous five days.

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

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TOKYO - The Nikkei average rose 1.2 percent in a volatile session, rebounding from a four-month low as investors scooped up recently battered stocks such as Panasonic and Toyota Motor following strong earnings reports.

The benchmark Nikkei .N225 ended 171.91 points higher at 14,180.38 after briefly dropping to 13,995.86 in afternoon trade, the lowest intraday level since Oct. 8.

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

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SYDNEY - Australian shares are set to open modestly higher after a mixed Wall Street finish overnight, though investors may exercise caution ahead of some earnings results due later on Thursday.

Australia's share price index futures YAPcm1 rose 0.1 percent, but was still a 45.3-point discount to the underlying S&P/ASX 200 index .AXJO . The benchmark fell 0.5 percent on Wednesday to a 7-week closing low.

Tabcorp Holdings Ltd TAH.AX and Woolworths Ltd WOW.AX are both due to report their earnings later in the day.

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FOREIGN EXCHANGE

NEW YORK - The yen rose on Wednesday towards recent two-month highs against the dollar and euro as stock markets struggled on nagging worries about emerging markets and global economic growth, forcing investors to seek safe-haven currencies.

The greenback was last 0.3 percent lower to 101.39 yen

JPY= . The euro was down 0.2 percent to 137.06 yen EURJPY= after hitting a session low of 136.51 yen.

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

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TREASURIES

NEW YORK - U.S. Treasuries yields rose on Wednesday as investors bet that Friday's highly anticipated payrolls number will come in relatively strong, after an employment report on Wednesday was near analysts' expectations.

Benchmark 10-year notes US10YT=RR were last 2.65 percent, after falling from more than 3 percent at the beginning of the year as investors flee emerging market assets and stocks tumble, increasing the safe-haven demand for U.S. government debt.

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

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COMMODITIES

GOLD

NEW YORK/LONDON - Gold rose on Wednesday but failed to hold earlier gains of around 1.5 percent as a mixed bag of U.S. economic indicators left investors uncertain over the pace of recovery in the world's largest economy.

Spot gold XAU= was up 0.3 percent to $1,257.80 an ounce by 1615 GMT. U.S. April COMEX gold futures GCJ4 for April delivery were up $7.20 an ounce at $1,258.50.

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

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BASE METALS

LONDON - Copper prices dipped on Wednesday, resuming a downtrend after a brief bounce, as investors worried about weak demand in China and about the adjustment of the Chinese market to a drop in London prices when it reopens on Friday.

Three-month copper on the London Metal Exchange CMCU3 closed down 0.04 percent at $7,038 a tonne, having reached a session high of $7,085.

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

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OIL

NEW YORK - Brent crude oil futures rose on Wednesday as traders too profit on an over-extended spread trade with U.S. oil, while took some support from record heating oil demand due to continued freezing weather.

Brent crude LCOc1 rose 45 cents to $106.26 after three straight sessions of losses. U.S. crude CLc1 rose 0.20 percent to $97.38.

For a full report, double click on O/R

- - - - ((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 802 7980))

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