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RPT-New Zealand/Australia Morning Call-Global markets

(Repeats to remove extra words headline) -----------------------(07:21 / 1821 GMT)----------------------- Stock Markets S&P/ASX 200 4,388.62 +1.61 NZSX 50 3,830.03 -4.12 DJIA 13,543.84 +106.71 Nikkei 8,796.51 -73.65 NASDAQ 3,117.15 +0.92 FTSE 5,820.45 +78.38 S&P 500 1,447.34 +6.67 Hang Seng 20,840.38 +78.09 SPI 200 Fut 4,420.00 +26.00 CRB Index 0.00 +0.00 Bonds

AU 10 YR Bond 3.043 +0.070 US 10 YR Bond 1.623 -0.010 NZ 10 YR Bond 3.468 -0.002 US 30 YR Bond 2.827 +0.004

Currencies (Prev at 7pm NZST) AUD US$ 1.0373 1.0349 NZD US$ 0.8286 0.8279 EUR US$ 1.2889 1.2843 Yen US$ 78.02 77.81 Commodities

Gold (Lon) 1787.00 Silver (Lon) 34.350 Gold (NY) 1770.69 Light Crude 92.48 ---------------------------------------------------------------- vernight market action with latest New York figures.

EQUITIES

NEW YORK - U.S. stocks pared gains, with the Nasdaq turning negative on Monday as Federal Reserve Chairman Ben Bernanke delivered a broad defense of the central bank's controversial bond-buying stimulus plan.

The Dow Jones industrial average

gained 99.22 points, or 0.74 percent, to 13,536.35. The Standard & Poor's 500 Index added 5.57 points, or 0.39 percent, to 1,446.24. The Nasdaq Composite Index dropped 3.46 points, or 0.11 percent, to 3,112.77.

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LONDON - Britain's FTSE 100 share index rebounded from three-week lows on Monday, bolstered by strong U.S. manufacturing data and prospects of more takeover activity after Xstrata's

board gave long-awaited backing to a bid from Glencore .

The FTSE 100 closed up 78.38 points or 1.4 percent to 5,820.45, recovering from a three-week low of 5,738.59 points and breaking through a string of mild technical resistance levels at the 60-, 50-,40-, 30-, 20- and 10-day moving averages. For a full report, double click on

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TOKYO - The Nikkei share average fell to its lowest close in three weeks on Monday, hurt by downbeat economic data from Japan and China as well as a smattering of profit warnings from local companies like shipper Nippon Yusen KK

. The Nikkei

shed 0.8 percent to 8,796.51, breaking below its 75-day moving average at 8,866.55 and slumping to its lowest close since Sept. 6.

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- - - - FOREIGN EXCHANGE

NEW YORK - The dollar fell from a three-week high and the yen weakened broadly on Monday as a rise in U.S. manufacturing activity prompted a sell-off in safe-haven currencies.

The dollar index, a gauge of the greenback's performance against six major currencies, was last down 0.3 percent at 79.706 after rising as high as 80.147, its strongest level since Sept. 11.

The euro

rose 0.4 percent to $1.2907, although some analysts said its resilience was due less to confidence in the euro zone than to dollar weakness after the U.S. Federal Reserve unleashed another round of monetary easing last month.

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- - - - TREASURIES

NEW YORK - Most U.S. Treasuries edged higher on Monday, supported by Federal Reserve purchases and hedging related to corporate issuance.

After the ISM index was released, the benchmark 10-year Treasury reversed course to trade down 2/32 in price before paring losses to trade unchanged. Subsequently, it inched higher, leaving its yield

at 1.63 percent, midway between a low of 1.38 percent set in late July and a high of 1.89 percent reached in mid-September.

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- - - - COMMODITIES GOLD

NEW YORK - Gold rallied sharply on Monday on the back of what traders and analysts said was a rush of hedge fund buying at the start of the new quarter, following the strongest quarterly gain in the bullion price in over two years.

Spot gold

was up 0.9 percent on the day at $1,785.80 an ounce at 1445 GMT, having fallen earlier by as much as 0.4 percent to a low of $1,762.94, before a flurry of fund-related buying saw nearly 4.0 million ounces change hands on the futures market

in a matter of moments, traders said.

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- - - - BASE METALS

LONDON - Copper rose on Monday, reversing earlier losses, as the euro rebounded and the dollar fell but more evidence of shrinking factory activity in China and renewed worries over public debt problems in Spain capped gains.

Benchmark three-month copper on the London Metal Exchange

closed at $8,299.50 from $8,205 at the close on Friday. In Shanghai, the futures exchange is closed this week for a national holiday.

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- - - - OIL

NEW YORK - Brent crude fell slightly on Monday in choppy trading as oil markets balanced better-than-expected U.S. manufacturing data against signs of economic weakness in Asia and evidence of a new recession in the debt-saddled euro zone.

Front-month Brent crude

traded down 79 cents at $111.60 a barrel by 11:54 a.m. EDT (1554 GMT), off highs of $113.27.

U.S. crude rose 7 cents to trade at $92.26 a barrel, having hit $93.33.

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

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