Page 3278 - Business Finance
Apple launches $300 mn clean energy fund in China
Amid heightened trade tensions between the US and China, tech giant Apple has joined hands with its suppliers to launch a $300 million clean energy fund in China.
Silver futures extend losses, fall 0.13% on weak global cues
Silver prices eased further by 0.13 per cent to Rs 39,283 per kg in futures trade today as speculators reduced their holdings, amid a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 52, or 0.13 per cent, at Rs 39,283 per kg in business turnover of 735 lots. Analysts said offloading of positions by participants in tandem with a weak trend overseas kept pressure on silver prices in futures trade. Meanwhile, silver fell by 0.13 per cent to USD 15.90 an ounce in Singapore as the dollar extended gains from the previous session when strong US inflation data and trade war concerns boosted demand for the greenback.
Cyient slips after weak Q1 results
Cyient fell 3.42% to Rs 716.65 at 10:55 IST on BSE after consolidated net profit fell 32.67% to Rs 81.60 crore on 1.71% increase in net sales to Rs 1080 crore in Q1 June 2018 over Q4 March 2018.
Muted demand drag down lead futures by 0.63%
Lead prices shed 0.63 per cent to Rs 149.35 per kg in futures trade today as speculators cut down their positions, taking negative cues from domestic spot market on low demand. At the Multi Commodity Exchange, lead for delivery in July fell by 95 paise, or 0.63 per cent to Rs 149.35 per kg in business turnover of 688 lots. Similarly, the metal for delivery in August contracts was trading lower by 75 paise, or 0.50 per cent to Rs 150.45 per kg in 13 lots. Analysts said offloading of positions by traders owing slackened demand from battery-makers in the physical market weighed on lead prices in futures trade.
Aluminium futures edge higher by 0.14% on spot demand
Aluminium prices inched marginally higher by 0.14 per cent to Rs 139.60 per kg in futures trade today as speculators built up fresh positions following uptick in demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in July inched up by 20 paise, or 0.14 per cent, to Rs 139.60 per kg in business turnover of 724 lots. On similar lines, the metal for delivery in August contracts was up by 10 paise, or 0.07 per cent, to Rs 139.65 per kg in 7 lots. Analysts said fresh positions created by participants due to improved demand from consuming industries in the physical market influenced aluminium prices in futures trade.
Sensex trims gains after scaling record high
The Sensex trimmed gains soon after scaling a record high while the Nifty sank in negative zone in morning trade. At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 7.98 points or 0.02% at 36,556.39. The Nifty 50 index was down 4.50 points or 0.04% at 11,018.70. Intraday volatility was high.
Volumes spurt at Finolex Industries Ltd counter
Finolex Industries Ltd registered volume of 1.51 lakh shares by 10:47 IST on BSE, a 8.26 fold spurt over two-week average daily volume of 18260 shares
Nickel futures slip 0.26% on profit-booking
Nickel prices declined by 0.26 per cent to Rs 972.10 per kg in futures market today as speculators booked profits, driven by easing demand in the spot market. At the Multi Commodity Exchange, nickel for delivery in August fell by Rs 2.50, or 0.26 per cent, to Rs 972.10 per kg in business turnover of 33 lots. Similarly, the metal for delivery in July was trading lower by Rs 2, or 0.21 per cent, to Rs 968.40 per kg in 1,419 lots. Analysts said besides profit-booking by traders, fall in demand from alloy-makers in the physical markets weighed on nickel prices in futures trade.
China: Stocks mixed amid trade tensions
China has yet to give details on what kind of firm and forceful measures it would use to respond to the fresh round of potential tariff hikes on $200 billion of goods announced by the U.S. on Tuesday. But Beijing stepped up pressure on Washington by suggesting that U.S. companies lobby American leaders. The U.S. and China are yet to resume negotiations over the dispute that led to tariff hikes on each other's goods.
Japan Nikkei gains on offshore lead, weaker yen
Shares of export-related players gained, thanks to yen depreciation against greenback. A weaker yen tends to help Japanese exporters' profits made abroad when repatriated. Advantest Corp and TDK Corp were up in the range of 1%-2%.
Australia Stocks mixed
Shares of materials were up after iron ore prices edged up overnight. Rio Tinto shares advanced after the company said it has signed a heads of agreement to sell its interest in Indonesia's Grasberg mine - the world's second biggest copper mine, for $3.5 billion.
Copper futures gain 0.17% on positive spot cues
Copper prices edged higher by 0.17 per cent to Rs 422.55 per kg in futures trade today as speculators raised their bets amid positive spot market cues on pick up in demand. At the Multi Commodity Exchange, copper for delivery in August edged up by 70 paise, or 0.17 per cent, to Rs 422.55 per kg in business turnover of 1,412 lots. Likewise, the metal for delivery in November contracts was trading higher by 65 paise, or 0.15 per cent, to Rs 429.60 per kg in 4 lots. Market analysts said widening of positions by traders, taking positive cues from spot market on uptick in demand from consuming industries led to the rise in copper prices at futures trade.
HOEC gains after PY-1 block operations update
Hindustan Oil Exploration Company rose 2.94% to Rs 136.65 at 10:19 IST on BSE after the company said it completed drilling of two wells.
Malaysia's IHH Healthcare wins over Fortis with $1.1 billion takeover bid
MUMBAI/SINGAPORE (Reuters) - Malaysia's IHH Healthcare Bhd is set to take control of India's Fortis Healthcare after its bid of up to $1.1 billion was chosen over a rival's, giving it ownership of 30 hospitals amid a private healthcare boom in India.
Fed orders Pakistan-based United Bank Ltd. to toughen money laundering policies
WASHINGTON (Reuters) - The Federal Reserve on Thursday ordered United Bank Limited to toughen its anti-money laundering policies as the regulator faulted the Pakistani bank for not doing enough to track suspicious transactions.
Larsen & Toubro bags orders worth Rs 3000 crore
Under buildings and factories business segment
Indices may march ahead on positive Asian stocks
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 35 points at the opening bell.
Market drifts higher in early trade
Domestic stocks nudged higher in early trade on positive Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was up 126.68 points or 0.35% at 36,675.09. The Nifty 50 index was up 27.90 points or 0.25% at 11,051.10.
HCL Tech corrects on profit booking
HCL Technologies fell 1.42% to Rs 991 at 9:41 IST on BSE on profit booking after the company said its board approved buyback of shares.
Gold prices subdued as dollar extends rally
BENGALURU (Reuters) - Gold prices were muted on Friday, stuck in a tight trading range as the dollar extended gains from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback.