Feb 28 (Reuters) - ----------------------------------------------------------------------------------------
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EQUITIES
GLOBAL - World markets were set for another tumultuous week after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine and as fighting intensified for a fourth day.
The Russian invasion comes at a time when investors are already worried about expensive market valuations and hawkish central banks with world stocks (.MIWO00000PUS) falling to a 10-month low on Thursday and down more than 7% so far this year.
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NEW YORK - The Dow on Friday registered its biggest daily percentage gain since November 2020 with the market rebounding for a second day from the sharp selloff leading up to Russia's invasion of Ukraine.
The Dow Jones Industrial Average (.DJI) rose 834.92 points, or 2.51%, to 34,058.75, the S&P 500 (.SPX) gained 95.95 points, or 2.24%, to 4,384.65 and the Nasdaq Composite (.IXIC) added 221.04 points, or 1.64%, to 13,694.62.
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LONDON - Europe's main stocks index roared back on Friday, lifting off nine-month lows with banks leading a broad-based rally as investors hunted for bargains following a bruising sell-off after Russia's invasion of Ukraine.
The STOXX 600 ended the day up 3.3%, after dropping to May lows on Thursday. All major indices jumped more than 3%, with London's FTSE 100 (.FTSE) up almost 4%.
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TOKYO - Japanese shares snapped a five-session losing streak on Friday, with heavyweight technology stocks leading the charge, as the market tracked a sharp rebound on Wall Street overnight.
The Nikkei share average (.N225) ended 1.95% higher at 26,476.50, but lost 2.3% for the week. The broader Topix (.TOPX) climbed 1% to 1,876,24, but posted a 2.5% weekly loss.
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SHANGHAI - Chinese stock indexes rose on Friday as buying by foreign investors boosted healthcare, new energy and consumer staples firms, a day after the blue-chip index recorded its biggest drop in a month sparked by Russia's invasion of Ukraine.
The Shanghai Composite index (.SSEC) finished the day up 0.63% at 3,451.41 points.
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AUSTRALIA - Australian shares are expected to open significantly higher on Monday tracking a strong rebound in Wall Street indices on Friday, as investors are likely to have taken respite in major economies imposing various sanctions on Russia and considering freezing its financial assets.
The local share price index futures rose 2.4%, a 120.2-point premium to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark rose 0.1% on Friday..
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SEOUL - South Korean shares closed 1% higher on Friday, bouncing back from a one-month low hit in the previous session, although the benchmark index marked its worst week in four on Russia-Ukraine jitters.
The KOSPI (.KS11) closed up 27.96 points, or 1.06%, at 2,676.76, after declining 2.60% to the lowest level since Jan. 28 on Thursday.
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FOREIGN EXCHANGE
NEW YORK - The U.S. dollar dipped on Friday, giving back some of the strong gains from the previous day, as investors gauged the latest round of sanctions on Russia and U.S. inflation data was seen as unlikely to make the Federal Reserve overly aggressive at its next policy meeting.
The dollar index fell 0.459%, with the euro up 0.59% to $1.1257. The euro fell to $1.105 on Thursday, its weakest against the greenback since June 1, 2020.
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SHANGHAI - Sustained demand continued to support the Chinese yuan on Friday, putting it on course for the third straight weekly gain, despite Russia's invasion of Ukraine roiling global financial markets.
The spot yuan opened at 6.3230 per dollar and was changing hands at 6.3172 at midday, 127 pips firmer than the previous late session close.
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AUSTRALIA - The Australian and New Zealand dollars were holding their ground on Friday as the Russian invasion of Ukraine caused major mood swings in markets, but also boosted prices for resources Australia is rich in.
The Aussie had steadied at $0.7179 , having bounced from an overnight low of $0.7095, but remained short of a five-week peak of $0.7284 touched on Wednesday. That left it almost unchanged for week.
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SEOUL - The won and the benchmark bond yield rose on Friday.
The won ended at 1,201.6 per dollar on the onshore settlement platform , 0.07% higher. For the week, the currency weakened 0.47%.
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TREASURIES
NEW YORK - U.S. Treasury yields eased from earlier highs on Friday after the Federal Reserve's preferred inflation gauge rose more than expected in January, but the market's reaction was muted as uncertainty reigned due to Russia's invasion of Ukraine.
Before the data's release, the yield on the 10-year Treasury note was 3 basis points higher at 2.002%, the first time the benchmark was above 2% since last week. The 10-year's yield was last down 0.5 basis points at 1.967%.
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LONDON - Euro zone bond yields rose on Friday, tracking moves in U.S. Treasuries after falling sharply the previous day as the Russian invasion of Ukraine boosted demand for safe-haven assets.
Germany's 10-year government bond yield, the benchmark of the bloc, jumped more than 5 basis points to 0.22%. It closed at 0.226% on Wednesday before the news of the Russian attack. DE10YT=RR
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TOKYO - Japanese government bond yields jumped on Friday as demand for safe-haven debt cooled with investors weighing the potential economic fallout from Russia's invasion of Ukraine.
On Friday, the 10-year JGB yield rose two basis points to 0.205% and the 20-year JGB yield jumped 3.5 basis points to 0.685%.
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COMMODITIES
GOLD
Gold prices reversed course to slide 1% on Friday, and palladium also slipped, as Russia's invasion of Ukraine triggered sharp swings in the precious metals market.
Spot gold slipped 0.9% to $1,887.05 per ounce by 02:02 p.m. ET (1902 GMT), swinging between gains and losses through the session.
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IRON ORE
Chinese ferrous futures tumbled on Friday with all products logging losses on the week as coal prices slumped in afternoon trade after the government ordered a cap on benchmark prices of it.
The most-traded coking coal futures on the Dalian Commodity Exchange fell as much as 8.8% to 2,400 yuan ($380.19) a tonne and ended at 2,512 yuan per tonne. They were down 1.8% this week.
Benchmark iron ore futures closed down 3.1% to 681 yuan a tonne on Friday and logged the fourth straight weekly decline.
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BASE METALS
Aluminium prices retreated on Friday from record levels on easing fears about power supply after Russia's energy sector was excluded from Western sanctions and as some traders withdrew ahead of the weekend.
Three-month aluminium on the London Metal Exchange slipped 0.9% to $3,364 a tonne by 1730 GMT, easing off a record high of $3,480 touched on Thursday. On a weekly basis, prices are up about 3%.
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OIL
Oil prices slipped Friday after sharp rises early in the session on concern over potential global supply disruptions from sanctions on major crude exporter Russia.
The April Brent crude futures contract fell $1.15, or 1.2%, to settle at $97.93 a barrel, after climbing as high as $101.99. The more active May contract shed $1.30, or 1.4%, to $94.12.
A decision by Western allies on Saturday to block certain Russian banks from the SWIFT payments system is likely to lift oil prices well above $100 a barrel as risks with trading Russian oil spike, analysts say.
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PALM OIL
Malaysian palm oil futures plunged 7% on Friday, but posted their best week since October on strong demand and as Russia's attack on Ukraine stoked worries about global edible oil supplies.
The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed down 469 ringgit, or 7.3%, to 5,984 ringgit ($1,425.27) a tonne, a day after it hit a record high.
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RUBBER
Japan's rubber futures inched higher on Friday and posted their fourth straight weekly jump, as Asian stocks rose and oil prices extended sharp gains after Russia invaded Ukraine.
The Osaka Exchange rubber contract for August delivery , finished 2.3 yen, or 0.9%, higher at 261.3 yen ($2.27) per kg. It posted a 1.4% gain for the week.
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