Page 3031 - Business Finance
Strong U.S. job growth expected in July, tariffs yet to bite
WASHINGTON (Reuters) - U.S. companies likely maintained a strong pace of hiring in July, suggesting that the robust economy was helping the labor market to weather trade tensions, which could allow the Federal Reserve to raise interest rates again in September.
Crude oil futures soften by 0.09% on overseas cues
Crude oil prices eased by 0.09 per cent to Rs 4,673 per barrel in futures trade today as speculators cut bets, driven by a weak trend overseas. At the Multi Commodity Exchange, crude oil for delivery in September declined by Rs 4, or 0.09 per cent to Rs 4,673 per barrel in a business turnover of 8 lots. Likewise, the oil for delivery in August contracts was trading lower by Rs 3, or 0.06 per cent, to Rs 4,741 per barrel in 1,255 lots. Analysts said sentiment turned bearish after oil prices edged lower in global markets after strong gains the previous day, easing on persistent supply concerns as Russia increased production in July and Saudi Arabia cut the price of crude for its Asian customers. Globally, Brent fell 13 cents, or 0.20 per cent, to USD 73.32 a barrel while West Texas Intermediate (WTI) crude oil shed 5 cents, or 0.03 per cent to USD 68.91 a barrel, on the New York Mercantile Exchange.
Mphasis gains on buyback plan
Mphasis rose 2.29% to Rs 1,202 at 10:08 IST on BSE after the company scheduled a board meeting on 7 August 2018 to consider a share buy-back proposal.
Market extends early gains
The key indices extended early gains and hit fresh intraday high in morning trade. At 10:16 IST, the barometer index, the S&P BSE Sensex, was up 248.33 points or 0.67% at 37,413.49. The Nifty 50 index was up 78.30 points or 0.70% at 11,323. Shares jumped on bargain hunting after a recent sell off.
Hong Kong Market falls 0.13%
Investors cautious mood came amid an elevation in trade tensions between the world's top two economies intensified midweek after US President Donald Trump raised pressure on China by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports from a previously announced 10 percent. China responded on Thursday, saying that it would hit back if the United States takes further steps hindering trade, including applying the higher tariff rate.
China Stocks mixed amid fresh U.S.-China trade jitters
Investors cautious mood came amid an elevation in trade tensions between the world's top two economies intensified midweek after US President Donald Trump raised pressure on China by proposing a higher 25% tariff on $200 billion worth of Chinese imports from a previously announced 10%. China responded on Thursday, saying that it would hit back if the United States takes further steps hindering trade, including applying the higher tariff rate.
Japan Stocks mixed on US-China trade jitters
Investors cautious mood came amid an elevation in trade tensions between the world's top two economies intensified midweek after US President Donald Trump raised pressure on China by proposing a higher 25% tariff on $200 billion worth of Chinese imports from a previously announced 10%. China responded on Thursday, saying that it would hit back if the United States takes further steps hindering trade, including applying the higher tariff rate.
Apple, Huawei grow as global tablet market slips in Q2
As the global tablet market declined 13.5 per cent during the second quarter of 2018, Apple remained the leader with 34.9 per cent market share, followed by Samsung with 15.1 per cent share, the International Data Corporation (IDC) said on Friday.
ONGC gains after strong Q1 outcome
ONGC rose 1.2% to Rs 168 at 09:45 IST on BSE after net profit surged 58.15% to Rs 6143.88 crore on 39.47% rise in total income to Rs 27862.71 crore in Q1 June 2018 over Q1 June 2017.
Motherson completes acquisition of Reydel Automotive
Auto component maker Motherson Sumi Systems today said it has completed the acquisition of interior components and modules manufacturer Reydel Automotive Group (Reydel) for USD 201 million (over Rs 1,300 crore). Motherson Sumi Systems (MSSL), flagship company of the Samvardhana Motherson Group (SMG), said this acquisition through its step down subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV) will bolster its offerings in the automotive interiors space. "SMRP BV has completed acquisition of Reydel Automotive Holdings BV and Reydel Automotive Management BV on August 2, 2018, at Amsterdam upon receipt of all acquisition related approvals," Motherson Sumi Systems said in a regulatory filing. Reydels interiors product portfolio includes instrument panels, door panels, console modules, decorative parts and cockpit modules. The company's global presence spans 20 plants and 16 countries, and is supported by a workforce of around 5,500 associates. Reydel's revenue for the
Jet Airways will not be able to fly beyond 60 days - ET
MUMBAI (Reuters) - Jet Airways (India) Ltd will be unable to fly beyond 60 days unless cost-cutting measures including pay cuts are put in place, and it has approached investment bankers again to help sell a stake in the carrier, local media reports said on Friday.
India's Jet Airways will not be able to fly beyond 60 days - ET
MUMBAI (Reuters) - Jet Airways (India) Ltd will be unable to fly beyond 60 days unless cost-cutting measures including pay cuts are put in place, and it has approached investment bankers again to help sell a stake in the carrier, local media reports said on Friday.
Board of Mahindra Logistics approves additional investment in subsidiary
At meeting held on 02 August 2018
Gold holds steady near one-year low amid firm dollar
BENGALURU (Reuters) - Gold prices held steady near a one-year low on Friday amid a resilient U.S. dollar and were headed for a fourth straight weekly fall.
Sensex gains over 200 points, Nifty reclaims 11,300 mark
The key Indian equity indices opened on a positive note on Friday with the benchmark S&P BSE Sensex gaining over 200 points and the NSE Nifty50 reclaiming the 11,300 mark.
Motherson Sumi Systems completes acquisition of Reudel Automotive Group
Reydel manufactures interior components and modules for global automotive customers. This is the 21st acquisition by the Samvardhana Matherson Group and will further bolster Motherson's offerings in the automotive interiors space.
Market jumps in opening trade
Key benchmark indices jumped in early trade on bargain hunting after a recent sell off. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 220.55 points or 0.59% at 37,385.71. The Nifty 50 index was up 66.45 points or 0.59% at 11,311.15.
Rupee declines 7 paise, hits fresh 1-week low against US dollar
Continuing its fall for the second day, the rupee weakened by another 7 paise to trade at fresh one-week low of 68.77 against the US dollar in early session today due to increased demand for the American currency from importers amid sustained foreign capital outflows. The dollar's gains against other currencies overseas on worries over escalating trade tensions between the US and China, also impacted the rupee sentiment, a currency dealer said. They said, a higher opening of the domestic equity market, capped the rupee's losses. Yesterday, the rupee had dropped by 27 paise to close at a one-week low of 68.70 against the US dollar. Meanwhile, the benchmark Sensex recovered 223.64 points, or 0.60 per cent, to 37,388.80 in early trade.
China loses spot as world's number 2 stock market: Bloomberg
China's stock market has been overtaken as the world's second-biggest by Japan's, having been swiped this year by the threat of a trade war with the United States and slowing economic growth. Data from Bloomberg News in intra-day trade showed the value of equities on the mainland had slipped behind those in their neighbouring country for the first time since taking the number-two spot in 2014. The figures showed Chinese stocks were worth USD 6.09 trillion, compared with USD 6.17 trillion in Japan.
Global Markets: Asia stocks capped, dollar at two-week high as trade war dents confidence
TOKYO (Reuters) - Asian stocks inched on Friday following a tech-led rise on Wall Street, although the latest exchange of trade threats between Beijing and Washington capped gains and drove safehaven flows to the dollar, which hovered near a two-week high.