FROM MORRISON SECURITIES PTY. LTD.:

U.S. STOCK MARKETS:

The Dow Jones Industrial Average headed towards a second consecutive loss as sagging energy stocks and the latest housing news weighed on investors. The blue-chip Dow slipped 27 points, or 0.2%, to 13143 in late trading.

The Standard & Poor's 500-stock index traded roughly flat at 1406, while the Nasdaq Composite gained 12 points, or 0.4%, to 3086.

Weighing on the downside were energy and financial stocks, as Chevron and Exxon Mobil fell. Hewlett-Packard was the biggest decliner among Dow components, after the technology company unveiled a reorganization plan Wednesday that folds its printing business into its personal-computer group.

Other companies with exposure to global growth, including Alcoa and Caterpillar, were weak. Gains at Home Depot and Coca-Cola helped limit some of the declines on the blue-chip index.

Investors started the trading day cautiously after a disappointing read on existing-home sales, which dipped slightly last month. The inventory of previously owned homes listed for sale, meanwhile, increased to 2.43 million, equal to a 6.4-month supply at the current sales pace and just above a healthy level of about six months.

Also denting sentiment were some global worries, as sovereign-debt yields rose in Spain and Italy.

EUROPEAN STOCK MARKETS:

European stocks ended a bumpy session little changed Wednesday, as a strong showing in the retail sector helped to offset weak banking shares and disappointing U.S. data, while lingering worries about China kept resources under pressure.

The Stoxx Europe 600 index closed down 0.1% at 268.67. The U.K.'s FTSE 100 index ended nearly flat at 5891.95, Germany's DAX rose 0.2% to 7071.32 and France's CAC-40 index ended down 0.1% at 3527.37.

Regional indexes kicked off the day on a positive note, as investors digested upbeat corporate news. Shares of Spanish retailer Inditex SA rose 0.6% after it reported a surge in 2011 net profit, a doubling of its footprint in China and expansion in Europe.

Meanwhile, U.K. supermarket retailer J Sainsbury PLC gained 4.5% after posting a rise in fourth-quarter sales and pointing to the potential boost from the Olympic Games and the Queen's Diamond Jubilee this summer.

This helped the Stoxx Europe 600 retail index to close up 0.5%. Nevertheless, concerns about a possible slowdown in China continued to weigh on basic resources, after an executive at BHP Billiton said Tuesday that Chinese demand for iron ore was flattening out.

The Stoxx Europe 600 index for the sector ended down 0.4%. In the U.K., public-sector borrowing figures gave investors little to cheer about, with borrowing for February almost twice as much as expected.

Sticking with the U.K., there were few surprises in Chancellor of the Exchequer George Osborne's budget statement, as much of the content had already been leaked in the press. In the afternoon session, stocks took a leg down following the release of weaker-than-expected U.S. home sales figures for February.

Among banks, UniCredit SpA lost 3.3% in Italy, BBVA SA fell 2.9% and Banco Santander SA declined 2.4% in Spain, Societe Generale SA lost 1.8% in France and Lloyds Banking Group PLC shed 0.9% in the U.K.

ASIA-PACIFIC STOCK MARKETS

Most Asian markets ended lower Wednesday as lingering worries about China's economic growth pressured commodity and exporter stocks, with Japanese shares declining for the first time in six trading days.

Japan's Nikkei Stock Average fell 0.6% as trading resumed after Tuesday's holiday.

South Korea's Kospi lost 0.7% and Hong Kong's Hang Seng Index slipped 0.2%. China's Shanghai Composite and Taiwan's Taiex inched up 0.1%.

Losses in Asia extended from the previous day, when sentiment was hurt in part by a BHP Billiton Ltd. executive's remarks that Chinese demand for iron ore in particular was flattening out. Inpex Corp. fell 2.4% and Nippon Steel Corp. lost 2.1% in Tokyo, Posco gave up 2.3% in Seoul, and PetroChina slid 0.2% in Hong Kong and 1.1% in Shanghai.

Many regional exporters also skidded on the weaker Chinese demand outlook and the overnight drop on Wall Street. Sony fell 4.5% and Toyota Motor gave up 1.5% in Tokyo, Samsung Electronics Co. shed 2% in Seoul, Lenovo Group Ltd. declined 0.8% in Hong Kong and Acer Inc. slid 1.2% in Taipei.

Nissan Motor Co. dropped 2.9% after the car maker announced spending plans, including the resurrection of its Datsun brand after three decades. Losses for property firms dragged on Hong Kong stocks. Sun Hung Kai Properties dropped 1.7% extending losses from the previous session after the reported arrest of one of its executives on allegations of bribery and China Resources Land fell 2.1%.

COMMODITIES

Base metals closed mostly lower on the London Metal Exchange Wednesday, as investors keenly awaited the next round of data for hints on China, the world's largest consumer of industrial metals.

LME three-month copper closed the session at $8,455 a metric ton, up 0.3% on Tuesday's close. Three-month aluminum closed at $2,209/ton, down 1.6% on the day.

Crude oil futures prices rose Wednesday after weekly government data showed a surprise drop in U.S. oil inventories. The U.S. Energy Information Administration said crude stockpiles fell 1.2 million barrels in the week ended March 16. Analysts had, on average, expected an increase of 1.9 million barrels.

Gasoline stockpiles fell 1.2 million barrels, the EIA said. Light, sweet crude for May delivery gained $1.20, or 1.1%, to settle at $107.27 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 10 cents higher at $124.17 a barrel.

Gold futures notched a modest advance, regaining some of the ground lost in the prior day's selloff as bargain hunters came in at the cheaper prices. Gold for April delivery added $3.30, or 0.2%, to settle at $1,650.30 an ounce on the Comex division of the New York Mercantile Exchange.