Top news in pictures

Top news in pictures

A woman displays a gold necklace at a jewellery shop Chandigarh

Gold buying in India continued for a second week on Monday as traders expected a rebound in prices, dealers said.

"Bookings are continuing today as traders are expecting a further rise in prices," said a dealer with a state-run bank.

"I booked 200 kg at $1,175-1,180 (on May 21), while today I ended deals for 150 kg at $1,185/1,186."

International gold was trading at $1,190.35/1,190.85 an ounce as against the previous close of $1,175.15/1,179.15, recovering from a 2-¿ week low of 1,166.50 an ounce on Friday.

An employee counts Euro notes at the Bank of Taiwan head office in Taipei

The euro's rapid fall has not been sharp enough to trigger official intervention, yet fear that authorities may step in should be enough to scare off ultra-bears in a historically over stretched market.

The euro fell to four-year lows of $1.2142 last week and has lost more than 13 per cent since January.

Many investors doubt the fall has been "disorderly" -- central-bank speak for a disruptive move that would warrant intervention by authorities, who did not intervene even after a global rout following the collapse of Lehman Brothers.

Various long-term fair value analyses show the euro is still overvalued, while an export-friendly decline in the euro helps regional growth at a time of severe economic stress.

However, in a market where speculative bets against the euro are running at all-time highs, the shadow of the European Central Bank could be e

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai

Jindal Steel & Power's recent acquisition in the middle east is expected to boost earnings, but expensive valuations have analysts worried, deterring them from assigning positive ratings to the stock.

Shares in the firm have lost only about 10 per cent of their value since the start of the year, compared with a 16-20 per cent fall in other steelmakers - Tata Steel, Steel Authority of India and Ispat Industries.

The BSE Metal Index dropped 15 per cent in the period while the broader 30-share BSE Index has fallen about 6 per cent.

Out of the 14 analysts covering JSPL, only 5 have rated it as 'buy' while others have a 'hold' or 'sell' rating on it, according to ThomsonReuters I/B/E/S.

A man walks past the headquarters of the People's Bank of China, the central bank, in Beijing

China mainly looks at domestic factors rather than external ones in deciding its monetary policies, Chinese central bank governor Zhou Xiaochuan said on Monday.

Worries about European sovereign debt have fanned speculation that China will slow its exit from the loose, pro-growth monetary policy implemented at the height of the global financial crisis.

"China is a big economy, and generally domestic factors are most important in adjusting domestic monetary policy under most circumstances," Zhou told a news conference during the ongoing two-day US-China Strategic and Economic Dialogue.

His comments came in response to a question about whether the People's Bank of China gave more weight to the European debt crisis or domestic deposit rates, which are now negative in real terms, in deliberations about interest rates.