Page 2620 - Business Finance
ExxonMobil latest foreign major to invest in petchem plant, LNG terminal in China
BEIJING (Reuters) - ExxonMobil Corp said on Thursday it has signed a preliminary deal to build a petrochemical complex and invest in a liquefied natural gas (LNG) terminal in China, the latest major foreign investment in the world's top chemicals market.
German industrial orders fall unexpectedly in July
BERLIN (Reuters) - German industrial orders fell unexpectedly in July on weak foreign demand, data showed on Thursday, in a further sign that factories in Europe's largest economy are feeling the bite of protectionist trade policies.
Mentha oil futures gain on spot demand
Mentha oil prices rose 1.24 per cent to Rs 1,697.90 per kg in futures trade today as participants increased their bets following rise in demand from consuming industries at the spot markets. Moreover, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the uptrend in mentha oil prices. At the Multi Commodity Exchange, mentha oil for September contract was trading higher by Rs 20.80, or 1.24 per cent, to Rs 1,697.90 per kg with a business volume of 293 lots. The oil for October rose by Rs 20.70, or 1.22 per cent, to Rs 1,713 per kg with a trading volume of 45 lots. Marketmen said widening of positions by traders following pick-up in demand from consuming industries against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Speculative buying lifts wheat futures
Wheat prices moved up by 0.60 per cent to Rs 2,025 per quintal in futures market today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in October was trading higher by Rs 12, or 0.60 per cent to Rs 2,025 per quintal with an open interest of 1,040 lots. Analysts said fresh positions created by traders after uptick in demand in the physical market amid pause in arrivals from producing belts pushed up wheat prices in futures trade.
Nickel climbs 0.56 on spot demand, global cues
Nickel prices were up by 0.56 per cent at Rs 903.90 per kg in futures trade today on pick-up in demand from consuming industries at the spot market amid a firm trend in select base metals overseas. At the Multi Commodity Exchange, nickel for delivery in October moved up by Rs 5, or 0.56 per cent, to Rs 903.90 per kg, in a business turnover of 25 lots. Also, the metal for delivery in current month gained Rs 4.70, or 0.53 per cent, to Rs 898.90 per kg in 485 lots. Analysts said besides pick-up in domestic demand from alloy-makers, a firm trend in copper and other base metals in global markets on weakness in dollar, led to the rise in nickel futures.
Factbox: Over 200 tweaks in India's biggest tax reform create confusion
(Reuters) - India introduced a new national Goods and Services Tax (GST) in July last year, aiming to unify its $2.6 trillion economy and 1.3 billion people into a single market for the first time.
Pakistan may become 5th largest n-state by 2025: Report
Pakistan is expanding its uranium-enrichment and plutonium production facilities, triggering fears that it may become the 5th largest nulcear-weapon state and have 220 to 250 warheads within the next seven years, a report has said.
Crude palm oil futures gain 0.46%
Crude palm oil prices went up by 0.46 per cent to Rs 608.90 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets supported the upmove. At the Multi Commodity Exchange, crude palm oil for October rose by Rs 2.80, or 0.46 per cent, to Rs 608.90 per 10 kg, in a business turnover of 90 lots. Similarly, the oil for delivery in this month went up by Rs 1.80, or 0.29 per cent, to Rs 604.90 per 10 kg in 90 lots. Analysts said widening of positions by participants amid pick-up in spot demand against tight stocks position on restricted supplies from overseas markets kept crude palm oil prices higher in futures trade.
PSP Projects rises on bagging new orders
PSP Projects rose 2.45% to Rs 493 at 11:25 IST on BSE after the company said the total work orders received during the financial year 2018-2019 till date on standalone basis amounts to Rs 419.97 crore.
Strong market breadth
Firmness prevailed on the bourses in mid-morning trade. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 119.76 points or 0.32% at 38,138.07. The Nifty 50 index was up 25.90 points or 0.23% at 11,502.85. Cement stocks gained on bargain hunting after recent slide.
PSP Projects bags work orders worth Rs 226.07 cr
With this the total work orders, the total work orders received during the financial year 2018-19 (till date) on standalone basis amounts to Rs 419.97 crore.
Refined soya oil futures rise 0.13% as demand picks up
Amid pick up in demand at the domestic spot market against restricted arrivals from producing regions, refined soya oil prices edged higher by 0.13 per cent to Rs 747.80 per 10 kg in futures trade Thursday as speculators raised bets. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October rose by Re 1, or 0.13 per cent, to Rs 747.80 per 10 kg with an open interest of 34,250 lots. Likewise, the oil for delivery in September contracts edged up by 85 paise, or 0.11 per cent, to Rs 743.70 per 10 kg in 27,800 lots. Analysts said widening of positions by traders, triggered by improved demand in the spot market against restricted supplies from producing belts attributed to the rise in refined soya oil prices in futures trade.
Crude oil futures rise marginally as participants widen positions
Crude oil rose by Rs 11 to Rs 4,945 per barrel in futures market today as speculators widened their bets, ignoring negative cues from Asian markets. At the Multi Commodity Exchange, crude oil for delivery in October was trading higher by Rs 11, or 0.22 per cent, to Rs 4,945 per barrel in a business turnover of 15 lots. Likewise, the oil for delivery in September gained Rs 6, or 0.12 per cent, to Rs 4,940 per barrel in 856 lots. Analysts said raising of bets by traders pushed up crude oil prices, but a weak trend in Asian trade, limited the gains. Meanwhile, West Texas Intermediate crude fell by 12 cents, or 0.17 per cent, to USD 68.60 while global benchmark Brent was down 5 cents, or 0.06 per cent, at USD 77.22 a barrel.
Zinc futures rise 1.61% on positive global cues
Zinc prices were up by 1.61 per cent to Rs 177.15 per kg in futures trade Thursday as speculators widened their positions, taking positive cues from spot market on strong demand. At the Multi Commodity Exchange, zinc for delivery in September rose by Rs 2.80, or 1.61 per cent, to Rs 177.15 per kg in a business turnover of 1,338 lots. Similarly, the metal for delivery in October gained Rs 2.80, or 1.60 per cent, to Rs 177.65 per kg in 7 lots. Analysts said raising of bets by participants in line with positive trend at spot market on surging demand from consuming industries and firmness in copper in global markets, supported the upside in zinc prices in futures trade here.
Spot demand lifts lead futures by 1.02%
Lead prices rose by 1.02 per cent to Rs 147.85 per kg in futures market today as speculators created fresh positions after uptick in demand at the spot market. At the Multi Commodity Exchange, lead for delivery in September rose by Rs 1.50, or 1.02 per cent, to Rs 147.85 per kg in business turnover of 654 lots. Analysts said fresh positions built up by traders following pick up in demand from battery markers in the physical market, attributed to the rise in lead prices in futures trade.
Volumes jump at Prestige Estates Projects Ltd counter
Prestige Estates Projects Ltd saw volume of 4.01 lakh shares by 10:47 IST on BSE, a 96.02 fold spurt over two-week average daily volume of 4180 shares
China securities regulator issues draft rule revisions on share buybacks
SHANGHAI (Reuters) - China's securities regulator on Thursday released draft revisions of company rules that it said were aimed at expediting share buybacks by listed companies.
Drugmaker GSK to eliminate 650 U.S. jobs
(Reuters) - British drugmaker GlaxoSmithKline Plc said on Wednesday it would cut about 650 positions in the United States related to a global restructuring program it announced in July.
Aluminium futures gain 0.51% on rising demand
Aluminium prices advanced by 0.51 per cent to Rs 149.15 per kg in futures trade Thursday as speculators raised their bets, tracking a firm trend at the spot market on soaring demand. At the Multi Commodity Exchange, aluminium for delivery in October edged up by 75 paise, or 0.51 per cent, to Rs 149.15 per kg in a business turnover of 9 lots. Similarly, the metal for delivery in September contracts was trading higher by 70 paise, or 0.48 per cent, to Rs 147.80 per kg in 224 lots. Analysts said expanding of positions by participants on the back of surging demand from consuming industries in the physical market and rising of aluminium prices by leading producers Nalco and Vedanta, supported the upmove in aluminium prices in futures trade.
Mixed finish for US stocks
Technology sector logs its worst single-day decline since late July