Page 3543 - Business Finance
China holds fire on rates, posts 'shockingly weak' activity growth
BEIJING (Reuters) - China's economy is finally starting to cool under the weight of a multi-year crackdown on riskier lending that is pushing up borrowing costs for companies and consumers, with data on Thursday pointing to a broad slowdown in activity in May.
Demand in commercial realty gaining momentum, outlook positive: Developers
For commercial real estate, developers feel the worst is over, and signs of a revival have started showing up with pent-up demand and stocks declining. The outlook for the sector, they say, is now better.
Nifty, Sensex fall after Fed signals faster tightening pace
(Reuters) - Indian shares fell on Thursday, in line with Asian peers, as the Federal Reserve raised U.S. interest rates and struck a more hawkish tone in forecasting a slightly faster pace of tightening.
Rolls-Royce to cut 4,600 jobs to save 400 million pounds a year
LONDON (Reuters) - Britain's Rolls-Royce said it would cut 4,600 jobs primarily in the UK as part of a plan to simplify its business and save 400 million pounds ($536 million) a year by the end of 2020.
Positive global cues lift silver futures
Tracking a firming trend overseas, silver prices shot up by 0.82 per cent to Rs 41,101 per kg in futures trade today as speculators raised their bets. In futures trading at the Multi Commodity Exchange, silver for delivery in July jumped by Rs 335, or 0.82 per cent to Rs 41,101 per kg in a business turnover of 2,888 lots. On similar lines, the white metal for delivery in far-month September was trading higher by Rs 315, or 0.76 per cent to Rs 41,766 per kg in 167 lots. Market analysts said speculative position created by participants, driven by firm global trend, mainly pushed up silver prices at futures trade here. Meanwhile, silver rose 0.03 per cent to USD 17.01 an ounce in Singapore.
Oil dips on lower China refining activity, fresh U.S. crude output record
SINGAPORE (Reuters) - Oil prices eased on Thursday, dragged down by rising output and a decline in China's refining activity, although strong fuel consumption in the United States and a drop in its crude inventories provided some support.
Global Markets: Asian shares slip on Fed hike, trade fears and soft China data
TOKYO (Reuters) - Asian shares eased on Thursday after the Federal Reserve raised interest rates and struck a more hawkish tone by forecasting a slightly faster tightening, while concerns about weak Chinese data and U.S.-China trade frictions kept investors on edge.
Muted demand drags down mentha oil futures by 0.55%
Mentha oil prices were trading lower by 0.55 per cent to Rs 1,138 per kg in futures trade today as speculators trimmed positions, driven by a sluggish demand from consuming industries at the spot market. At the Multi Commodity Exchange, mentha oil for delivery this month declined by Rs 6.40, or 0.55 per cent, to Rs 1,138 per kg in a business turnover of 210 lots. Similarly, the oil for delivery in July contract traded lower by Rs 5.80, or 0.50 per cent, to Rs 1,150.20 per kg in 88 lots. Analysts said offloading of positions by participants on the back of subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh led to the decline in mentha oil futures.
Crude palm oil futures gain 0.33 pc
Crude palm oil prices went up by 0.33 per cent to Rs 638.50 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 this month contract rose by Rs 2.10, or 0.33 per cent, to Rs 638.50 per 10 kg, in a business turnover of 60 lots. Similarly, the oil for delivery in July contract went up by Rs 1.90 or 0.30 per cent, to Rs 634.20 per 10 kg in 14 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets mainly kept crude palm oil prices higher at futures trade.
Volumes soar at Bharti Infratel Ltd counter
Bharti Infratel Ltd recorded volume of 35.45 lakh shares by 10:47 IST on BSE, a 240.48 times surge over two-week average daily volume of 14740 shares
Embattled ZTE proposes $10.7 billion credit proposal, new board
HONG KONG (Reuters) - Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.
China steel output jumps to record despite smog campaign
BEIJING/MANILA (Reuters) - China's steel output surged to a record in May as mills ramped up production to chase fat profit margins, with a strong outlook for demand likely to keep mills running at nearly full capacity for the rest of the year.
Vegoils: Palm recovers as traders buy at low prices, ahead of festive period
KUALA LUMPUR (Reuters) - Malaysian palm oil futures rose on Thursday, pulling back from a more than 22-month low hit in the previous session, as traders took the opportunity to buy at low prices ahead of Eid festivities during the weekend.
Refined soya oil futures up 0.16 pc on spot cues
Refined soya oil prices rose 0.16 per cent to Rs 741 per 10 kg in futures trade today as speculators built up fresh positions, taking positive cues from the spot market on uptick in demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July month edged up by Rs 1.15, or 0.16 per cent to Rs 741 per 10 kg with an open interest of 53,140 lots. Likewise, the oil for delivery in June contract was trading higher by 40 paise, or 0.05 per cent to Rs 732.40 per 10 kg in 28,170 lots. Analysts said fresh positions created by traders following pick up in demand in the spot market against restricted arrivals from producing belts led to the rise in refined soya oil prices in futures trade.
GlobalSpace Technologies acquires 70.80% stake in Miljon Medi APP LLP
Miljon Medi APP LLP is a health tech startup with B2B Digital Platform (Platform) that connects Generics pharmaceutical manufacturers to the entire Pharma channel till retail chemist. Company claims to have some of the leading Generics Manufacturers already on the Platform with an existing network of around 73 distributors & 9380 Chemists as its active users. Company's vision is to enable quality & certified generics reach the last mile so as to benefit the patients.
Spot demand lifts aluminium futures by 0.10 pc
Aluminium prices inched up by 0.10 per cent to Rs 155 per kg in futures market today as speculators built up fresh positions amid an uptick in demand at the spot market. Aluminium for delivery in June month edged higher by 15 paise, or 0.10 per cent to Rs 155 per kg in 154 lots at the Multi Commodity Exchange. Analysts said fresh positions created by participants after demand from consuming industries picked up in the physical market mainly led to the rise in aluminium prices at futures trade.
Muted demand drags down lead futures by 0.42 pc
Lead prices eased by 0.42 per cent to Rs 167.80 per kg in futures market today as speculators reduced their exposure amid tepid demand at the spot markets. At the Multi Commodity Exchange, lead for delivery in July month fell by 70 paise, or 0.42 per cent to Rs 167.80 per kg in business turnover of 26 lots. On similar lines, the metal for delivery in June contract was trading lower by 65 paise, or 0.39 per cent to Rs 167 per kg in 278 lots. Analysts said offloading of positions by traders owing to slackened demand from battery-makers in the physical market weighed on lead prices in futures trade.
Fitch: Geopolitics and Demand Support Medium-Term Oil Prices
We have raised our Brent and WTI oil price assumptions for 2018 and 2019. Now we assume Brent will average USD70/bbl in 2018 and USD65 in 2019, compared to the previous assumption of USD57.5 in both years. The revision reflects high year-to-date prices, Venezuela's production decline, continued geopolitical tensions, including the renewal of US oil sanctions on Iran, and strong demand growth.
Sensex, Nifty extend slide
Fresh selling in index pivotals pulled the key benchmark indices to intraday low in morning trade. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 226.44 points or 0.63% at 35,512.72. The Nifty 50 index was down 68.05 points or 0.63% at 10,788.65. Negative Asian stocks weighed on the domestic bourses.
Nickel futures soften 0.74 pc on profit-booking
Nickel prices fell 0.74 per cent to Rs 1,046.40 per kg in futures trade today amid profit-booking by speculators and easing demand at the domestic spot market. At the Multi Commodity Exchange, nickel for delivery in June fell by Rs 7.80, or 0.74 per cent, to Rs 1,046.40 per kg in a business turnover of 853 lots. Likewise, the metal for delivery in July was trading lower by Rs 7.50, or 0.71 per cent, to Rs 1,050.70 per kg in 11 lots. Marketmen said profit-booking by participants at current levels amid fall in demand from alloy-makers in the spot market mainly influenced nickel prices at futures trade.