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

-----------------------(06:50 / 1950 GMT)---------------------  
Stock Markets                                                    
S&P/ASX 200    5,408.24  +15.42  NZSX 50        4,914.14  +19.04 
DJIA          16,109.43  -20.97  Nikkei        14,766.53  -76.71 
NASDAQ         4,252.52  -20.26  FTSE           6,796.71   +0.28 
S&P 500        1,836.01   -4.75  Hang Seng     22,587.72  +76.80 
SPI 200 Fut    5,194.00  +11.00  TRJCRB Index     301.70   +3.21 
 
Bonds (Yield)                                                    
AU 10 YR Bond     4.125  -0.040  US 10 YR Bond     2.736  +0.026 
NZ 10 YR Bond     4.595  +0.000  US 30 YR Bond     3.706  +0.026 
 
Currencies (Prev at 7pm NZST)                                    
AUD US$          0.8997  0.9025  NZD US$          0.8276  0.8317 
EUR US$          1.3734  1.3754  Yen US$          102.35  102.15 
 
Commodities                                                      
Gold (Lon)      1320.50          Silver (Lon)     21.750         
Gold (NY)       1320.99          Light Crude      103.77         
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Overnight market action with latest New York figures. 
 
    EQUITIES 
    NEW YORK - U.S. stocks held steady at breakeven levels after 
the release of the minutes from the Federal Reserve's January 
policy meeting. 
    The Dow Jones industrial average    was down 9.3 points 
at 16,121.12. The S&P 500    slipped 2.93 points or 0.2 
percent, to 1,837.83.  
    For a full report, double click on  .N  
    - - - -  
    LONDON - Britain's top shares steadied on Wednesday as 
analysts bet the strong rally that followed a slump in emerging 
markets has run out of steam, though Sports Direct gained on 
robust profits. 
    The FTSE 100    closed up 0.28 points - flat in 
percentage terms - at 6,796.71 points. It hit 6,810.48, its 
highest since late January, earlier in the day. The weakness 
followed a rally of around 6 percent since early February. 
    For a full report, double click on  .L  
    - - - -  
    TOKYO - Japan's Nikkei share average fell on Wednesday, 
retreating from a 2-1/2-week high hit the previous day, as 
investors took profit on banks and exporters a day after it had 
logged its biggest percentage gain in six months. 
    The Nikkei    shed 0.5 percent to 14,766.53 after a 3.1 
percent rise on Tuesday, which took it to the highest close 
since Jan. 31. The Topix    shed 0.5 percent to 1,218.52 
    For a full report, double click on  .T  
    - - - -  
    SYDNEY - Australian stocks, holding near three-month highs, 
are set to take direction from a slew of results on Thursday, 
with investors expecting growth from Leighton Holdings    
and Origin Energy    but weaker earnings from insurer AMP 
  . 
    Local stock index futures    slipped 1 point to 
5,376.0, a 32.2-point discount to the underlying S&P/ASX 200 
index   . The benchmark rose 0.3 percent on Wednesday. 
    - - - -  
    FOREIGN EXCHANGE  
    NEW YORK - The euro hit a session low against the U.S. 
dollar on Wednesday, while the dollar turned positive agains the 
yen after the release of the Federal Reserve's minutes from its 
January policy meeting. 
    For a full report, double click on  USD/  
    - - - -  
    TREASURIES  
    NEW YORK - U.S. Treasuries prices rose on Wednesday as U.S. 
housing starts recorded their biggest drop in almost three 
years, raising concerns about the housing recovery, and rose 
further after the release of the Fed minutes. 
    Benchmark 10-year notes    rose to yield 2.73 
percent. 
    For a full report, double click on  US/  
    - - - -  
    COMMODITIES  
    GOLD 
    LONDON - Gold fell on Wednesday as muted U.S. producer 
prices triggered selling ahead of the release of the closely 
watched minutes of the U.S. Federal Reserve's January meeting. 
    Spot gold    was down 0.1 percent to $1,319.21 an ounce 
by 1:33 p.m. EST (1833 GMT).  
    For a full report, double click on  GOL/  
    - - - -  
    BASE METALS 
    LONDON - Copper was broadly flat on Wednesday as concerns 
about the demand outlook in top consumer China were offset by a 
weaker dollar and near-term tightness in stocks. 
    Three-month copper    on the London Metal Exchange 
(LME) was down around 0.1 percent at $7,180 a tonne at the close 
after hitting a low of $7,171.50 earlier in the session. 
    For a full report, double click on  MET/L  
    - - - -  
    OIL 
    NEW YORK - U.S. crude oil prices rose on Wednesday as a 
fresh bout of freezing weather boosted heating oil demand, while 
traders weighed concerns that political tensions in Africa and 
Venezuela could squeeze global supplies. 
    U.S. crude    was up 59 cents at $103.02 by 1:42 p.m. 
EST (1742 GMT), after it touched a session high of $103.34, its 
highest since Oct 10. The contract expires on Thursday. 
    Brent crude    fell 2 cents to $110.43 after settling 
on Tuesday at its highest level this year. 
    For a full report, double click on  O/R  
    - - - - 
((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 802 
7980)) 
 
 
Keywords: MORNINGCALL/