Page 2320 - Business Finance

Global Markets: Asian shares subdued as global bond sell-off eases; sterling rises

TOKYO (Reuters) - Asian shares barely moved on Wednesday after world stocks hit eight-week lows the previous day on worries about global economic growth, although the British pound stayed firm on hopes for a Brexit deal.

Rupee rises from record low, recovers 23 paise against US dollar

The battered rupee rose 23 paise to 74.16 against the US dollar Wednesday after the American currency weakened overseas amid increased selling by exporters. Besides, RBI's decision to inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet the festival season demand for funds also supported the recovery in rupee, dealers said. A higher opening of domestic equity markets too aided the recovery in the domestic unit. The benchmark BSE Sensex rose 110.20 points or 0.31 per cent, to 34,409.67 in opening trade. At the forex market, the rupee strengthened by 23 paise to quote at 74.16 against the US dollar in early trade on fresh selling of the American currency by banks and exporters. The rupee slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar Tuesday on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows. Meanwhile, DIIs bought shares worth Rs 1,526 crore, while FIIs .

Global debt is growing, IMF says, but so are values of public assets

NUSA DUA, Indonesia (Reuters) - Global debt levels reached a record $182 trillion in 2017, having grown 50 percent in the previous decade, but the picture looks less grim when public assets are taken into account, the International Monetary Fund said on Wednesday.

Market could recover on value buying

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 25.50 points at the opening bell.

Nalco in focus on buyback plan

National Aluminium Company (Nalco) said that its board will meet on 12 October 2018 to consider the proposal for buyback of the fully paid-up equity shares of the company.

Bank unions stage protest against BoB-Vijaya Bank-Dena Bank merger

The protest was carried out by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, here in the Fort area

Asian shares subdued as global growth woes linger; sterling rises

TOKYO (Reuters) - Asian shares steadied in early Wednesday trade after world stocks hit eight-week lows the previous day on worries about global economic growth, although the pound stayed firm on hopes for a Brexit deal.

Gold inches up as retreat of bond yields weigh on dollar

BENGALURU (Reuters) - Gold prices crawled higher on Wednesday, as long-dated U.S. Treasury yields retreated from multi-year highs, pressuring the dollar.

P&G gets steel tariff exemption for Gillette, Venus razors

CHICAGO (Reuters) - Procter & Gamble Co was informed on Tuesday that it is now exempt from the 25 percent U.S. tariff levied on imported Japanese and Swedish steel that is used in its Gillette and Venus razor blades, a company spokesman told Reuters.

US dollar ticks down as British pound gains ground

The US dollar fell as British pound strengthened against US dollar on likely breakthrough of Brexit talks in the coming days.

Dollar weakens as bond yields retreat after rapid rise

NEW YORK (Reuters) - Stocks on major world markets edged lower on Tuesday, with a decline in the materials sector offsetting rising energy shares, while long-dated U.S. Treasury yields pulled back from multi-year highs and helped weaken the U.S. dollar.

Wall Street edges lower on global worries despite falling yields

NEW YORK (Reuters) - The Dow and S&P 500 ended slightly lower on Tuesday as investors, worried about global growth prospects, fled from materials and industrials stocks but falling bond yields kept declines in check in the three major indexes.

Dow, S&P 500 dip slightly; materials sell off

NEW YORK (Reuters) - The Dow and S&P 500 ended down slightly on Tuesday as investors, worried about global growth prospects, sold materials and industrials stocks, but falling bond yields kept declines in check.

Oil prices gain as Iranian crude exports fall, Hurricane Michael nears

NEW YORK (Reuters) - Oil prices rose about one percent on Tuesday on growing evidence of falling Iranian crude exports before the imposition of new U.S. sanctions, as well as a partial production shutdown in the Gulf of Mexico because of Hurricane Michael.

Dollar index retreats from seven-week high, sterling rises

NEW YORK (Reuters) - The dollar dipped on Tuesday due to a fall in U.S. bond yields after touching a seven-week peak against a basket of currencies, as sterling rose following a report that rekindled hopes that Britain and the European Union are on the brink of a Brexit deal.

Wall St. stalls as global worries trounce materials stocks

NEW YORK (Reuters) - Wall Street's major indexes failed to make much progress on Tuesday as investors, worried about global growth prospects, fled from materials and industrials stocks.

Gold flat as strong dollar offsets global stocks selloff

(Reuters) - Gold was steady on Tuesday as pressure from the dollar's strength and a bullish U.S. rate outlook was balanced by falling stock markets.

Fuel excise cuts to create downside risks to fiscal deficit target: Moody's

Global credit ratings, research and risk analysis firm Moody's Investors Service on Tuesday said the recent reduction in excise cuts on petrol and diesel will "create material downside risks" to the central government's fiscal deficit target.

Vuitton propels LVMH growth in boost for luxury sector

PARIS (Reuters) - A standout performance by LVMH's fashion and handbags business boosted third-quarter sales growth at the luxury goods company, providing an encouraging sign for an industry gripped by fears of a slowdown in China.

Wall Street edges lower as tech rally fades, global growth woes weigh

(Reuters) - U.S. stocks edged lower on Tuesday after the International Monetary Fund said the Sino-U.S. trade war would hurt global growth, and as a rebound in technology stocks lost steam.