Page 3341 - Business Finance
Rupee recovers by 21 paise to 68.82 against US dollar
The rupee recovered 21 paise from intra-day low of 69.03 to trade at 68.82 against the US dollar in late morning deals. As the US is set to impose tariffs on Chinese goods today and sustained foreign capital outflows pressured the sentiment, the rupee fell sharply to 69.03 a dollar before quoting 68.82 at 1145 hrs. The rupee moved in range between 68.82 and 69.03 during morning trade. Overseas, major currencies traded lower in early Asian trade as investors remained cautious ahead of the US tariffs imposition on Chinese goods. The 30-share BSE Sensex trading higher by 123.82 points or 0.35 per cent at 35,698.37 at 1150 hrs.
LG Electronics says second-quarter profit likely rose 16.1 percent, misses estimates
SEOUL (Reuters) - South Korea's LG Electronics Inc on Friday said second-quarter operating profit likely rose 16.1 percent from the same period a year earlier, falling short of market expectations.
Adani Power Ltd leads gainers in 'A' group
Balkrishna Industries Ltd, MMTC Ltd, Ashok Leyland Ltd and Dilip Buildcon Ltd are among the other gainers in the BSE's 'A' group today, 06 July 2018.
US unleashes trade war with latest tariffs on China
United States' trade war with China officially began on Friday as the Trump administration slapped tariffs of USD 34 billion on Chinese imports, escalating a fight that could hurt companies and consumers in both the countries.The new tariffs on Chinese goods, which went into effect at 12:01 a.m., will undoubtedly prompt quick retaliation by China, which is expected to impose retaliatory tariffs on American exports, such as soybeans, seafood, SUVs and crude oil."The escalation of the trade war from threat to reality is expected to ripple through global supply chains, raise costs for businesses and consumers and roil global stock markets, which have been volatile in anticipation of a prolonged trade fight between the United States and almost everyone else," reported the New York Times.United States President Donald Trump on Thursday said that the first wave of tariffs on USD 34 billion in goods would swiftly be followed by penalty on another USD 16 billion of Chinese products.The United
Varroc Engineering sees tepid debut
Shares of Varroc Engineering were trading at Rs 1,024.70 at 11:25 IST on BSE, a premium of 5.97% over the issue price of Rs 967 on its debut on the bourses today, 6 July 2018.
Varroc Engineering lists equity shares
W.e.f. 06 July 2018
Market hits fresh intraday high
Key indices extended gains and hit fresh intraday high in mid-morning trade, tracking a recovery in other Asian stocks. At 11:18 IST, the barometer index, the S&P BSE Sensex, was up 212.19 points or 0.60% at 35,786.74. The Nifty 50 index was up 65.55 points or 0.61% at 10,815.30.
Thyssenkrupp shares jump pre-market after CEO offers resignation
FRANKFURT (Reuters) - Shares in Thyssenkrupp jumped in pre-market trade on Friday after Chief Executive Heinrich Hiesinger offered to step down less than a week after sealing a landmark joint venture deal with Tata Steel.
China has imposed counter tariffs on U.S. goods: China Daily
BEIJING (Reuters) - China has implemented additional tariffs on some import products from the United States immediately after new U.S. tariffs took effect on Friday, the official English language China Daily newspaper reported
Welspun Enterprises gains after new order win
Welspun Enterprises rose 1.88% to Rs 159.75 at 09:26 IST on BSE after the company received the letter of award from NHAI for four laning highway in Tamil Nadu.
Oil seesaws in nervous trading as U.S. implements tariffs on Chinese goods
SINGAPORE (Reuters) - Oil prices seesawed on Friday in a nervous market as the United States implemented a raft of tariffs on Chinese goods, which should prompt Beijing to retaliate, potentially including a duty on U.S. crude imports.
Crude oil futures soften by 0.35% on global cues
Crude oil fell by 0.35 per cent to Rs 4,902 per barrel in futures trade today as speculators cut down their bets amid weak trend overseas. At the Multi Commodity Exchange, crude oil for delivery in August declined by Rs 17, or 0.35 per cent, to Rs 4,902 per barrel in a business turnover of 134 lots. Likewise, crude for delivery in July contracts shed Rs 9, or 0.18 per cent, to Rs 5,030 per barrel in 3,082 lots. Analysts said, trading sentiment turned weak after oil prices dipped in a nervous market ahead of a raft of import tariffs expected to be imposed later in the day by the world's two biggest economies, the United States and China. Globally, West Texas Intermediate (WTI) crude oil was down by 15 cents, or 0.20 per cent, to USD 72.79 barrel, while Brent,too, shed 25 cents, or 0.30 per cent, to USD 77.14 per barrel, on the New York Mercantile Exchange.
Samsung profit growth slows on smartphone weakness
SEOUL (Reuters) - South Korean tech giant Samsung Electronics Co Ltd estimated on Friday earnings grew at the slowest pace in more than a year in the second quarter, as analysts said weak smartphone sales likely offset record high chip earnings.
Silver futures slip 0.29% on overseas cues
Taking negative cues from the global market, silver prices drifted lower by 0.29 per cent to Rs 40,622 per kg in futures trade today as speculators cut down their bets. At the Multi Commodity Exchange, silver for delivery in far-month December declined by Rs 117, or 0.29 per cent, to Rs 40,622 per kg in a business turnover of 5 lots. Similarly, the white metal for delivery in September contracts was trading lower by Rs 99, or 0.25 per cent, to Rs 39,782 per kg in 441 lots. Analysts said, the fall in silver prices was mostly due to off-loading of positions by participants in tandem with a weak trend overseas ahead of tariff deadline, US jobs data. Meanwhile, silver fell by 0.22 per cent to USD 15.99 an ounce in Singapore.
Vegoils: Palm oil edges up; cautious over China-U.S. tariff war
KUALA LUMPUR (Reuters) - Malaysian palm oil futures were slightly up on Friday, and set to snap three sessions of declines, though traders say it is mostly trading sideways on caution over the China-U.S. trade spat.
Shots fired as U.S.-China tariffs take effect in deepening trade row
BEIJING/WASHINGTON (Reuters) - U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world's two biggest economies took a high-stakes turn towards all-out trade conflict.
ZTE names new top executives in step towards U.S. ban lifting
HONG KONG (Reuters) - ZTE Corp has appointed a new team of top executives including a CEO to comply with a deal it made with the United States to end a ban on U.S. firms supplying parts to China's second-biggest telecommunications equipment maker.
Volumes jump at Godrej Consumer Products Ltd counter
Godrej Consumer Products Ltd saw volume of 72409 shares by 10:47 IST on BSE, a 5.18 fold spurt over two-week average daily volume of 13977 shares
Gold futures weaken by 0.11% on global cues
Gold prices shed 0.11 per cent to 30,910 per 10 gram in futures trading today as speculators reduced exposure driven by a weak global trend. At the Multi Commodity Exchange, gold for delivery in October fell by Rs 33, or 0.11 per cent, to Rs 30,910 per 10 gram in a business turnover of 10 lots. Similarly, the yellow metal for delivery in August declined by Rs 21, or 0.07 per cent, to Rs 30,629 per 10 gram in 270 lots. Analysts said, cutting down of positions by participants in-line with a weak trend overseas where gold prices nudged lower amid steady dollar position with investors bracing for any impact on global markets from a deepening trade conflict between the United States and China. Globally, gold fell by 0.18 per cent to USD 1,255 an ounce in Singapore.