EQUITIES

NEW YORK - U.S. stocks rose on Friday, with the Dow and the S&P 500 closing at records, after the May payrolls report provided the latest confirmation of improving economic conditions.

The CBOE Volatility index VIX .VIX , Wall Street's so-called fear gauge, ended down 8.1 percent at 10.73, its lowest level since February 2007.

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LONDON - UK shares advanced on Friday after a solid U.S. jobs report came on the heels of fresh stimulus measures from the European Central Bank that underpinned European markets.

Cyclical stocks, so-called because they are highly geared to the economic cycle, were in demand, with money managers St. James's Place SJP.L and Aberdeen Asset Management ADN.L among the top risers on the UK benchmark.

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TOKYO - Japanese shares hit a three-month high on Monday morning after a solid U.S. May jobs report provided the latest confirmation of slow but steady improvement in the world's largest economy and its labour market.

The benchmark Nikkei .N225 gained 0.5 percent to 15,156.32 by the midday break, after rising as high as 15,206.57, a level last seen on March 11. The index has gained about 445 points, or more than three percent, over the past five trading days.

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HONG KONG - Hong Kong market expected to open up 0.6 percent.

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FOREIGN EXCHANGE

TOKYO - The dollar edged higher against the yen on Monday thanks to upbeat U.S. employment data while the euro stood firm after rebounding from multi-month lows, continuing to shake off the impact from the European Central Bank's monetary easing last week.

The dollar rose 0.1 percent to 102.57 yen JPY=, adding to gains made on Friday when data showed U.S. nonfarm payrolls increased by 217,000 last month, returning to its pre-recession level and offering confirmation the world's largest economy has snapped back from a winter slump. (

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TREASURIES

NEW YORK - U.S. Treasuries prices fell on Friday ahead of a $62 billion sale of new coupon-bearing government debt next week, though losses were capped as falling yields on European bonds made U.S. debt relatively attractive.

The U.S. government will sell $28 billion in three-year notes on Tuesday, $21 billion in 10-year notes on Wednesday and $13 billion in 30-year bonds on Thursday, new supply that weighed on the market late on Friday.

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COMMODITIES

GOLD

SINGAPORE - Gold was firm above $1,250 an ounce on Monday after U.S. jobs data matched expectations, while a rally in stocks curbed the metal's appeal as an investment hedge.

Spot gold XAU= was trading flat at $1,252.51 an ounce by 0021 GMT, after losing less than 0.1 percent on Friday.

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BASE METALS

SYDNEY - Shanghai copper fell to its lowest in nearly a month on Monday, unsettled by concern that a probe into metals storage at China's third-largest port could squeeze financing and cut buying interest in metals.

The most-traded August copper contract on the Shanghai Futures Exchange SCFcv1 dropped by 0.9 percent to 47,780 yuan ($7,600) a tonne. It earlier hit 47,650 yuan a tonne which was its weakest since May 12.

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OIL

NEW YORK - U.S. crude oil futures inched higher on Friday after a solid jobs report in the United States pointed to economic strength and growing oil demand in the world's largest oil consumer.

A U.S. Labor Department report showed a fourth straight month of job gains in May, bringing U.S. employment back to pre-recession levels and confirming that the economy has snapped back from a winter lull.

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(Compiled by Abhishek Vishnoi)

((abhishek.vishnoi@thomsonreuters.com)(+91 22 61807225)(Reuters Messaging: abhishek.vishnoi.thomsonreuters.com@reuters.net))

Keywords: MORNINGCALL INDIA/