World Markets
08 May 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar under pressure as yield support fades
- Asia-Pacific markets rise as FED seeing low interest rates
- Oil climbs 1% on economic recovery hopes despite fresh Asian restrictions
Currency
The dollar teetered near multi-month lows against European currencies on Tuesday as Treasury yields stall due to renewed expectations that U.S. interest rates will remain low for an extended period.
Dallas Federal Reserve President Robert Kaplan on Monday reiterated his view that he does not expect interest rates to rise until next year, causing a further decline in bets that inflationary pressure could force the Fed to act sooner.
Against the euro, the dollar traded at $1.2157, close to the weakest since Feb. 26. The British pound bought $1.4151, near its strongest since late February. The dollar held steady at 109.22 yen.
Equity
Shares in Asia-Pacific jumped in Tuesday morning trade, as investors reacted to the release of Japan’s first quarter gross domestic data.
The Taiex in Taiwan surged 3.28% in Tuesday morning trade. Those gains followed a nearly 3% drop on Monday amid fears of domestic coronavirus infections. In Japan, the Nikkei 225 also saw robust gains as it jumped 2.12% while the Topix index advanced 1.49%.
Over in Hong Kong, the Hang Seng index rose 1.3%. Mainland Chinese stocks edged higher, with the Shanghai composite rising 0.21% while the Shenzhen component gained 0.28%. South Korea’s Kospi edged 1.1% higher. The S&P/ASX 200 in Australia rose 0.73%.
Oil
Oil prices rose more than 1% on Monday, lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data.
Brent crude ended the session up 75 cents, or 1.1%, at $69.46 a barrel and West Texas Intermediate (WTI) crude settled 90 cents, or 1.4%, higher at $66.27.
Financial News
Business Standard
Ø WPI inflation rises steeply to 10.49% in April
Ø India Inc foreign investment jumps two-folds
Ø Apollo Tyres gets NABL accreditation for outdoor regulatory testing
Ø Reliance Jio joins global consortium to build undersea cable network
Ø Panacea Biotec files suit against Sanofi for patent infringement
Business Line
Ø Apollo Hospitals, Dr Reddy’s announce vaccination drive with Sputnik V
Ø AT&T to merge media assets with Discovery in $43-billion deal
Ø Colgate-Palmolive India Q4 net profit jumps 54% to Rs 314.6 crore
Ø Moglix raises $120 mn in funds, joins India’s growing unicorn club
Ø Adar Poonawalla exits Panacea Biotec; sells entire stake for Rs 118 cr
Mint
Ø MRPL posts ₹328-crore profit in fourth quarter
Ø DRDO’s anti-Covid drug to hit the market in June
Ø Average E-way Bill generation dipped in May to 12.15 lakh
Ø Franklin Templeton gets ₹1,261 crore in six debt schemes
Ø TVS Motor scooter Ntorq’s international sales cross 1 lakh units
Ø Pine Labs raises $285 mn in new funding round
Financial Express
Ø S&P Dow Jones Indices is fined by SEC over US ‘volatility’ crash
Ø RBI remains net seller of US dollar in March; sells $5.699 bn
Ø Elon Musk loses world’s second-richest ranking as Tesla dips
Ø Actis eyes majority stake in Fortum’s solar projects
Ø MFs increase holdings in key index heavyweights in April
Ø World Economic Forum cancels Singapore meeting as pandemic haunts global event
Business World
Ø Gold schemes fetch record Rs 20,227 crore in FY21
Ø Pine Labs raises $285 million in fresh funding
Ø KKR to invest $95 million in Lenskart
Ø Bharti Airtel Posts Rs 759 Cr Profit For Jan-Mar
Ø India Loses Farzad-B Gas Field In Iran
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Disclaimer : All information in this report is collected from various sites on internet. Although we have taken all precautions for correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed is authors own views. We are not responsible for any losses on account of following the same.
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