Europe Higher, Boosted by Deutsche Telekom, Covestro
By Ritu, Capital Sands European stock markets pushed higher Wednesday, helped by strong earnings from index heavyweight Deutsche Telekom , while market participants looking to central banks to mitigate the damage caused by the outbreak of the coronavirus in China. The U.K.’s FTSE index traded 0.8% higher, France’s CAC 40 was up 0.5%, while the DAX was 0.4% higher. The […]
Euro edges lower on economic pessimism, Aussie hit by rate outlook
By Administrator_India Capital Sands The euro fell toward a three-year low versus the dollar ahead of a highly watched German survey on Tuesday, which is expected to show a sharp slump in investor confidence and fuel growing pessimism about the outlook for Europe’s largest economy. Financial markets clung to tight ranges following a U.S. public […]
Supreme Court orders telcos to clear dues by March 17, threatens contempt
By Ritu, Capital Sands India’s Supreme Court slammed mobile carriers on Friday for non-payment of billions of dollars in government dues and threatened them with contempt proceedings if they didn’t pay up by March 17. The court, which had asked companies including Vodafone Idea and Bharti Airtel to pay 920 billion Indian rupees ($12.89 billion) […]
India’s January retail inflation rises, industrial output shrinks
By Administrator_India Capital Sands India’s annual retail inflation accelerated to its highest level in nearly six years, while industrial output unexpectedly contracted, showing that Asia’s third-largest economy remains troubled. Annual retail inflation rose to 7.59% in January, partly driven by rising vegetable prices. December industrial output contracted 0.3%, after rising for the first time in […]
Sensex, Nifty end higher as coronavirus fears abate
By Ritu, Capital Sands Indian shares ended higher on Wednesday, as a slowdown in the number of coronavirus cases and the U.S. Federal Reserve chairman’s optimistic view on the economy whetted investor appetite for riskier assets. The broader Nifty ended up 0.77% at 12,201.20 and the benchmark Sensex ended 0.85% higher at 41,565.90. China reported […]
SEBI awaiting forensic audit reports on credit rating agencies for greater clarity
By Ritu, Capital Sands SEBI is waiting for forensic audit reports on credit rating agencies which will give a clearer picture of wrongdoings. The forensic audit or investigation report from Care, ICRA and India Rating may come out in a month’s time. “SEBI is awaiting forensic audit report on credit rating agencies which will give […]
Stocks – Wall Street Hits Records as Tech Rallies, Virus Fears Ebb
By Administrator_India Capital Sands Wall Street ended at record highs Thursday as traders cheered better-than-expected earnings and cast aside signs that the spread of the coronavirus in China continues to pick up pace. The S&P 500 rose 0.33% and the Nasdaq Composite rose 0.67%. The Dow Jones Industrial Average 0.30%. All three major averages closed in record territory. The number of […]
India’s divisive protests could help Modi’s BJP in Delhi election test
By Administrator_India, Capital Sands Indian Prime Minister Narendra Modi and his party this week face their first electoral test since deadly anti-government protests erupted nearly two months ago, with the divisive turmoil likely to win them votes at polls in the capital. Modi’s Hindu-nationalist BJP won a bigger majority in a general election in May, […]
Solid U.S. data and virus optimism supports dollar
By Administrator_India Capital Sands The U.S. dollar stood tall on Thursday, supported by firm domestic data and hopes the coronavirus economic impact could be limited, even as the human toll continued to climb. Another 73 people on the Chinese mainland died on Wednesday from the outbreak, the highest daily increase so far, bringing the total […]
UK economy’s post-election rebound strengthens in January: PMI
By Administrator_India, Capital Sands The British economy’s post-election bounce gained strength in January as services companies enjoyed the strongest influx of new orders since mid-2018, a closely watched survey showed on Wednesday. The IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) rose to 53.9 January, a full point higher than a preliminary reading for the […]