Page 2568 - Business Finance
Aluminium futures edge up by 0.64% on spot demand
Aluminium prices edged higher by 0.64 per cent to Rs 150 per kg in futures trade Wednesday as speculators built up fresh positions, taking positive cues from spot market on pick up in demand. At the Multi Commodity Exchange, aluminium for delivery in October rose by 95 paise, or 0.64 per cent, to Rs 150 per kg in a business turnover of four lots. Likewise, the metal for delivery in September contracts traded higher by 65 paise, or 0.44 per cent to Rs 148.10 per kg in a business turnover of 117 lots. Analysts said fresh positions created by participants after the uptick in demand from industries in the physical market attributed the rise in aluminium prices in futures trade.
Copper futures up 0.29% on weak global cues
Copper prices edged higher by 0.29 per cent to Rs 426.80 per kg in futures trade Wednesday as participants raised bets even after the metal weakened overseas. At the Multi Commodity Exchange, copper for delivery in November rose by Rs 1.25, or 0.29 per cent, to Rs 426.80 per kg in a business turnover of 291 lots. Analysts said widening of bets by the participants largely gave push to copper prices in futures trade here but a weak trend in base metals at the London Metal Exchange (LME), capped the gains. Likewise, the metal for delivery in far-month February traded higher by Rs 1.20, or 0.28 per cent, to Rs 432.55 per kg in 3 lots. Globally, copper for delivery in three months was down by 0.9 per cent at the LME.
Rise in demand lifts lead futures by 1.05%
Lead prices went up by 1.05 per cent to Rs 144.30 per kg in futures trading Wednesday as participants raised their bets amid pick up in demand in the spot market. At the Multi Commodity Exchange, lead for delivery in September edged up by Rs 1.50, or 1.05 per cent, to Rs 144.30 per kg in business turnover of 588 lots. On similar lines, the metal for delivery in October was higher by Rs 1.15, or 0.80 per cent, to Rs 145.45 per kg in 18 lots. Analysts said widening of positions by traders due to rise in demand from battery-makers in the physical market led to the rise in lead prices in futures trade.
NOS & Tata Elxsi launch Digital Centre of Excellence (CoE)
The centre will focus on digital transformation initiatives that are geared to deliver next generation services, enhance subscriber experience, and improve operational efficiency across their entire portfolio. This announcement comes as an expansion of the existing partnership around RDK solutions.
Silver futures ease 0.03% on global leads
Silver prices declined by 0.03 per cent to Rs 37,388 per kg in futures trade Wednesday as participants reduced their exposure after the metal prices fell in global markets. At the Multi Commodity Exchange, silver for delivery in December fell by Rs 13, or 0.03 per cent, to Rs 37,388 per kg in a business turnover of 87 lots. Analysts attributed the fall to a weak trend in precious metals overseas as investors stayed away from bullion on fears the US-China trade war could escalate. Globally, silver was trading 0.35 per cent down at USD 14.07 an ounce in Singapore.
Gold futures inch lower on weak global cues
Gold prices drifted lower by 0.04 per cent to Rs 30,944 per 10 grams in futures trading Wednesday as participants lowered their bets, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in December fell by Rs 13, or 0.04 per cent, to Rs 30,944 per 10 grams in a business turnover of two lots. Similarly, the yellow metal for delivery in October moved lower by Rs 9, or 0.03 per cent, to Rs 30,708 per 10 grams in 69 lots. Analysts said a weakening trend overseas with investors staying away from bullion on fears the US-China trade war could escalate, weighed on gold prices at futures trade here. Meanwhile, gold was trading 0.45 per cent lower at USD 1,192.70 an ounce in Singapore.
Gold falls on technical resistance, U.S.-China trade war fears
BENGALURU (Reuters) - Gold prices edged lower on Wednesday as a key technical resistance acted as a deterrent for the metal and the yuan weakened against the dollar on fears the U.S.-China trade war could escalate.
Market breadth turns negative
A bout of volatility was witnessed as key indices bounced back after hitting fresh intraday low in morning trade. At 10:29 IST, the barometer index, the S&P BSE Sensex, was up 77.93 points or 0.21% at 37,491.06. The Nifty 50 index was up 9.80 points or 0.09% at 11,297.30.
Japan's Pioneer gains $540 million rescue from Baring Private Equity
TOKYO (Reuters) - Japan's Pioneer Corp said it had secured up to 60 billion yen ($540 million) with a planned share issue to Baring Private Equity Asia - a lifeline after its bet on car navigation systems to survive tumultuous times flopped.
Wilson racket maker Amer Sports leaps on $5.3 billion approach by China's Anta
HELSINKI/HONG KONG (Reuters) - Finland's Amer Sports, makers of Wilson tennis rackets and branded outdoor gear, has received a 4.6 billion euros ($5.3 billion) takeover approach from China's Anta Sports and private equity firm FountainVest.
Hong Kong Stocks near 14-month lows on simmering trade worries
The Hang Seng Index's entered into a bear market, extending its loss since a January peak to over 20%, as the worsening US-China trade dispute prompted investors to pull out of riskier assets. The escalating trade war between China and the US, a decrease in buying by mainland Chinese investors and recent economic woes in such developing economies as Turkey and Indonesia are among factors that have unnerved investors.
Japan Nikkei falls on simmering trade worries
Investor confidence was chilled by the latest round of verbal threats in an intensifying US-China trade conflict. China told the World Trade Organization (WTO) on Tuesday it wanted to impose $7 billion a year in sanctions on the United States in retaliation for Washington's non-compliance with a ruling in a dispute over U.S. dumping duties. Separately, US President Donald Trump told reporters on Tuesday that the United States was taking a tough stance with China.
Australia Market falls on trade woes
Investor confidence was chilled by the latest round of verbal threats in an intensifying US-China trade conflict. China told the World Trade Organization (WTO) on Tuesday it wanted to impose $7 billion a year in sanctions on the United States in retaliation for Washington's non-compliance with a ruling in a dispute over U.S. dumping duties. Separately, US President Donald Trump told reporters on Tuesday that the United States was taking a tough stance with China.
Crude oil futures up 0.95% on Asian cues
Crude oil climbed 0.95 per cent to Rs 5,092 per barrel in futures market Wednesday as speculators created fresh bets, taking positive cues from Asian markets. At the Multi Commodity Exchange, crude oil for delivery in current month contracts rose by Rs 48, or 0.95 per cent, to Rs 5,092 per barrel in a business turnover of 689 lots. Analysts said, speculators widened their positions after oil prices surged following a report that crude inventories in the US fell and as looming sanctions against Iran raised expectations of tightening supplies, giving lift to crude oil prices in futures trade here. Meanwhile, West Texas Intermediate gained 59 cents, or 0.85 per cent to USD 69.84 while Brent crude traded 27 cents, or 0.34 per cent higher at USD 79.33 per barrel.
China vice premier says protectionism in trade must be rejected
HANOI (Reuters) - Chinese Vice Premier Hu Chunhua said on Wednesday countries should "categorically reject" protectionism in trade.
Exclusive: TV ratings provider Nielsen expands review to include company sale
(Reuters) - Nielsen Holdings Plc will expand a review of strategic alternatives to include a sale of the entire TV ratings company, the firm told Reuters on Tuesday, after coming under pressure to do so from hedge fund Elliott Management Corp.
China's interest in buying soyabean from Maha to benefit
China has shown interest in buying soyabean de-oiled cake produced in Maharashtra and the initiative is likely to help fetch higher prices for the crop than the minimum guaranteed price, an official has said. China's Consul General Tang Gochai, during a meeting with Maharashtra Chief Minister Devendra Fadnavis here Monday night, said his country is looking forward to import agricultural products from the state and also invest in the sector, according to an official release. Fadnavis said an independent officer would be appointed to develop more communication on this with China. Keeping in mind the interest of soyabean cultivators, the Centre has announced a 10 per cent export promotional incentive (subsidy) as well. This would certainly help soyabean growers to earn more as the export will also increase the demand in the domestic market, Fadnavis said. Soya de-oiled cake is a coarse granular material, produced from cleaned soyabean seeds after a series of physical ...
US stocks end with good gains
Tech shares rebound
Singapore PM unsure if China-backed trade pact will be finalised this year
HANOI (Reuters) - Singapore Prime Minister Lee Hsien Loong on Wednesday said he was not sure if an agreement on major regional trade pact backed by China will be finalised this year.
Australian insurers under fire over retention tactics and claims handling
SYDNEY (Reuters) - Australian insurers use high-pressure tactics to prevent customers from cancelling their policies and even hang up on them when they attempt to do so, a powerful public inquiry into the financial sector heard on Wednesday.