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EQUITIES
NEW YORK - U.S. stocks fell on Wednesday after the Federal
Reserve dropped the U.S. unemployment rate as its definitive
yardstick for gauging the economy's strength, and made clear it
would rely on a wide range of measures in deciding when to raise
interest rates.
The Dow Jones industrial average fell 54.52 points or
0.33 percent, to 16,281.67, the S&P 500 lost 5.6 points
or 0.3 percent, to 1,866.65 and the Nasdaq Composite
dropped 12.486 points or 0.29 percent, to 4,320.827.
For a full report, double click on .N
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LONDON - Britain's top shares fell on Wednesday as major
insurance stocks suffered a sell-off after changes announced in
the UK budget threatened their profits.
The drop in insurers' shares took the most points off the
blue-chip FTSE 100 index , which closed down by 0.5
percent, or 32.15 points, at 6,573.13.
For a full report, double click on .L
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TOKYO - Japan's Nikkei share average rose to a one-week high
on Wednesday on hopes the Ukraine crisis will not deepen, but a
widely-anticipated market debut by Japan Display disappointed,
with the shares dropping below their offer price.
The Nikkei ended 0.4 percent higher to 14,462.52,
the highest closing point since March 13, moving further away
from a six-week low of 14,203.21 hit on Monday.
For a full report, double click on .T
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FOREIGN EXCHANGE
NEW YORK - The U.S. dollar rallied broadly on Wednesday on
speculation of higher U.S. interest rates in the coming years
despite a pledge by the Federal Reserve to keep interest rates
unusually low even after the U.S. job market returns to full
strength and inflation rises to the central bank's target.
The dollar rose 1 percent to 102.46 yen, while gains
against other major currencies drove the greenback to a near
two-week high of 79.952 on a trade-weighted basis .
For a full report, double click on USD/
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TREASURIES
NEW YORK - U.S. Treasuries extended losses on Wednesday on
speculation of higher U.S. interest rates in the coming years
even as the Federal Reserve said interest rates may remain
unusually low even if the U.S. jobs market improves and
inflation rises.
The yield on benchmark 10-year Treasuries jumped
to 2.77 percent, their highest in a week.
For a full report, double click on US/
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COMMODITIES
GOLD
NEW YORK/LONDON - Gold fell more than 1 percent on
Wednesday, extending the previous session's losses after
comments by Russian President Vladimir Putin eased tensions in
Ukraine, with the market turning its focus on a policy decision
by the Federal Reserve.
Spot gold slipped 1.2 percent to $1,338.95 an ounce
by 1538 GMT, on track for its biggest one-day fall since Jan.
30.
For a full report, double click on GOL/
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BASE METALS
LONDON - Copper hit its lowest level in more than 3-1/2
years on Wednesday on worries about growth and tighter credit in
China, while aluminium sank as market data highlighted the
metal's chronic oversupply.
Three-month copper on the London Metal Exchange
touched $6,325.75 a tonne, its lowest level since July 2010. It
earlier traded down 0.72 percent in official midday rings to
$6,436 a tonne.
For a full report, double click on MET/L
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OIL
NEW YORK - Brent oil futures fell by $1 a barrel on
Wednesday, touching 6-week lows on easing worries that tensions
in Ukraine would escalate, while U.S. crude oil rose ahead of
the contract's expiration.
Brent fell 95 cents to $105.84 a barrel by 1615 GMT.
It fell by $1.08 to an intra-day low of $105.71 per barrel, the
lowest since Feb. 5.
U.S. crude for April delivery rose 10 cents to $99.80
per barrel. U.S. crude for May delivery , which will
become the front-month contract on Friday, fell 18 cents to
$98.70 per barrel.
For a full report, double click on O/R
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((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 802
7980))
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