*

European shares little changed, London closed

*

Oil prices fall on OPEC+ news, gold rises on safe haven

demand

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Taiwan dollar surges

(Updates prices after U.S. stocks open)

By Sinéad Carew and Dhara Ranasinghe

NEW YORK/ LONDON, May 5 (Reuters) - MSCI's global

equities index was lower on Monday, oil prices fell on the

prospect of production increases and Taiwan's dollar hit its

highest in nearly three years against the U.S. dollar, marking

the start of a busy week for central banks.

In U.S. Treasuries, yields rose after data showed U.S.

services sector growth in April was boosted by increased orders.

The measure of prices paid by businesses for materials and

services reached the highest level in more than two years,

indicating tariffs have added to inflationary pressures.

Gold prices rallied, driven by a weaker U.S. dollar and

safe-haven demand ahead of the U.S. Federal Reserve's interest

rate policy decision due later in the week.

MSCI's gauge of stocks across the globe fell

0.55 points, or 0.06%, to 848.70. Overall trading was subdued by

public holidays in countries including Britain, China and Japan.

The pan-European STOXX 600 index rose 0.2%.

On Wall Street, all three major averages regained some lost

ground, but the S&P 500 was heading for its first decline

after nine straight days of gains.

This was partly due to renewed uncertainty about U.S.

President Trump's trade policies after he announced a 100%

tariff on movies produced outside the U.S. but offered little

clarity on how the levies would be implemented.

"Markets like certainty and investors woke up this morning

with more uncertainty as to what might happen with tariffs,"

said Adam Sarhan, chief executive of 50 Park Investments in

Orlando, Florida.

The movie tariffs hit shares in video streaming providers,

such as Netflix ( NFLX ) and Paramount Global ( PARAA ), on

Monday.

Sarhan said investors are concerned more industries could be

targeted "if investors wake up to another 100% or 200% levy on

some other industry which is integral to our economy."

Trump said on Sunday that the United States was meeting with

many countries, including China, about trade and that his main

priority with China was to secure a fair deal.

Optimism around a potential de-escalation of trade tensions

between the U.S. and China has boosted markets in recent days,

with European shares trading just below levels seen before

Trump's April 2 major tariff announcement roiled markets.

On Wall Street at 11:00 a.m. the Dow Jones Industrial

Average rose 58.66 points, or 0.14%, to 41,376.72, the

S&P 500 fell 18.49 points, or 0.33%, to 5,668.18 and the

Nasdaq Composite fell 89.72 points, or 0.50%, to

17,888.23.

Other big drag's from individual stocks included Class B

shares of Warren Buffett's Berkshire Hathaway, which

fell after Buffett said at the weekend he will step down as CEO

of the conglomerate.

In energy markets, oil prices fell more than 2% after OPEC+

decided over the weekend to further speed up oil output hikes,

spurring investor concerns of more supply when the outlook for

demand is uncertain.

U.S. crude fell 2.81% to $56.66 a barrel and Brent

fell to $59.75 per barrel, down 2.51% on the day.

In currency markets, the Taiwan dollar marked a

second consecutive session of sharp gains against the U.S.

dollar, which touched a low of 28.815 against Taiwan's dollar

and was last at 28.990.

The rise of the Taiwan currency stoked speculation of a

revaluation of Asian currencies to win U.S. trade concessions.

But Taiwan President Lai Ching-te on Monday called on people not

to spread fake stories about foreign exchange rate talks with

the United States.

The dollar index, which measures the U.S. dollar

against a basket of major currencies including the yen and the

euro, fell 0.24% to 99.64.

The euro was up 0.4% at $1.134 while against the

Japanese yen, the dollar weakened 0.83% to 143.72.

In U.S. Treasuries, the yield on benchmark U.S. 10-year

notes rose 2.3 basis points to 4.343%, from 4.32%

late on Friday.

The 2-year note yield, which typically moves in

step with interest rate expectations for the Federal Reserve,

rose 0.5 basis points to 3.845%, from 3.84% late on Friday.

In precious metals, Spot gold rose 2.3% to $3,314.59

an ounce. U.S. gold futures rose 2.52% to $3,313.20 an

ounce.