New Zealand/Australia Morning Call-Global markets

-----------------------(06:30 / 1930 GMT)-----------------------
Stock Markets
S&P/ASX 200 1,079.60 -13.31 NZSX 50 3,214.93 +13.24
DJIA 9,972.18 -109.13 Nikkei 10,282.99 +15.82
NASDAQ 2,154.47 -10.82 FTSE 5,242.57 +35.21
S&P 500 1,079.60 -13.31 Hang Seng 22,210.52 +379.21
SPI 200 Fut 4,824.00 -28.00 CRB Index 280.34 -2.20
Bonds
AU 10 YR Bond 94.210 -0.040 US 10 YR Bond 3.490 +0.000
NZ 10 YR Bond 5.320 +0.050 US 30 YR Bond 4.292 +0.000
Currencies (Prev at 7pm NZST)
AUD US$ 0.9210 0.9258 NZD US$ 0.7528 0.7551
EUR US$ 1.4981 1.5002 Yen US$ 91.92 91.82
Commodities
Gold (Lon) 1061.75 Silver (Lon) 17.650
Gold (NY) 1054.05 Light Crude 79.88
____________________________(Oct 26)____________________________
Market action to the close of New York markets in Friday.



EQUITIES

NEW YORK - U.S. stocks fell on Friday, with the major indexes slipping for the first week in three, as industrial companies' weak results overshadowed robust earnings from tech and retail heavy-weights.

The blue-chip Dow average finished below 10,000 for the second time this week. The Dow Jones industrial average dropped 109.13 points, or 1.08 percent, to 9,972.18, marking its second finish this week below the 10,000 mark. The Standard & Poor's 500 Index dropped 13.31 points, or 1.22 percent, to 1,079.60. The Nasdaq Composite Index dropped 10.82 points, or 0.50 percent, to 2,154.47.



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LONDON - Britain's top share index shrugged off a shock fall in UK GDP to close higher on Friday, buoyed by miners and banking stocks, and supported by robust earnings and economic news from the U.S. The FTSE 100 closed up 35.21 points, or 0.7 percent at 5,242.57, having touched a 13-month high of 5,299.57 earlier in the session. It ended 1 percent lower on Thursday.

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TOKYO - Japan's Nikkei stock average edged up 0.2 percent on Friday, with construction machinery shares rising on hopes for China's economy and Kirin Holdings gaining ground on a brokerage upgrade. But Japan Airlines fell nearly 7 percent after the Nikkei business daily reported some creditors have asked the struggling carrier to reduce its capital.

The Nikkei rose 15.82 points to 10,282.99, while the broader Topix, which is less tech-heavy, fell 0.7 percent to 902.03.

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SYDNEY - Australian shares are set to fall on Monday after a
decline on Wall Street on Friday.

Share index futures fell 28 points to 4,824, a 35.4 point discount to the 4,859.4 close of the underlying S&P/ASX 200 index after falling as low as $1.6300, according to Reuters data, far from a six-week peak near $1.67 touched earlier. The euro rose 1.7 percent to 91.98 pence.

The dollar rose 0.7 percent to 92.06 yen after hitting a one-month high as the spread between 10-year U.S. and Japanese government bond yields widened in favor of the dollar. That makes U.S. bonds more attractive to Japanese investors.

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TREASURIES

NEW YORK - U.S. Treasury debt prices slipped on Friday after news that home sales surged last month and ahead of next week's record-large wave of government notes supply.

Benchmark 10-year Treasury notes fell 19/32 in price, the yield rising to 3.50 percent from 3.42 percent late on Thursday. Treasury yields move inversely to prices.

Shorter-dated Treasuries, which are more sensitive to interest rate expectations, also took a hit, with the two-year note falling 4/32, its yield rising to 1.02 percent from 0.95 percent late on Thursday.

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COMMODITIES

GOLD

NEW YORK - Gold dropped in choppy trade on Friday as the dollar rebounded against a basket of currencies after a strong U.S. housing report and bleak U.K. economic data.

Gold was at $1,053.65 an ounce at 2:04 p.m. EDT (1804 GMT), down from $1,060.00 late in New York on Thursday.

During the session, gold rose to a high of $1,067.30, slightly below its all-time high of $1,070.40 set on Oct. 14.

U.S. December gold futures settled down $2.20 at $1,056.40 an ounce on the COMEX division of the New York Mercantile Exchange.

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BASE METALS

LONDON - Copper climbed on Friday to its highest level in 13 months, as upbeat data in the United States, China and Europe this week reinforced optimism that economic recovery would boost metals demand.

LME benchmark zinc ended up $23 at $2,273 a tonne, while copper gained $59 to close at $6,649 a tonne.

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OIL

NEW YORK - Oil prices fell on Friday as a stronger U.S. dollar and doubts over the pace of economic recovery halted the commodity's recent rally.

U.S. crude for December delivery settled down 69 cents a barrel at $80.50, while Brent crude dropped 59 cents to to settle at $78.92.

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