World Markets
02 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar gets respite from pick up in U.S. manufacturing before jobs report
- Asia-Pacific stocks mixed; Australia says economy bounced back to pre-pandemic levels in the first quarter
- Oil settles up after hitting 15-month highs on demand prospects
Currency
The dollar clung to small gains from overnight on Wednesday, edging back from near a five-month trough versus major peers, as a pick up in U.S. manufacturing kept bets alive for a quicker normalisation of Federal Reserve policy.
The dollar index, which measures the greenback against six rivals, hovered just below 90 after dipping to as low as 89.662 on Tuesday and approaching the lowest since Jan. 7 at 89.533.
Likewise, the euro traded at $1.2222 after pulling back from near a multi-month top overnight, when it climbed to $1.22545. Sterling also remained lower at $1.4160 after easing off a three-year high of $1.4250 reached Tuesday
Equity
Shares in Asia-Pacific were mixed in Wednesday morning trade, with official data showing higher-than-expected growth in Australia’s economy for the first quarter. Australia’s gross domestic product rose 1.8% from last quarter on a seasonally adjusted basis in the first three months of the year.
The Nikkei 225 in Japan gained 0.22% while the Topix index climbed 0.67%. In South Korea, the Kospi rose 0.25%. Hong Kong’s Hang Seng index shed 0.36%. Mainland Chinese stocks also declined as the Shanghai composite fell slightly and the Shenzhen component dipped 0.217%. Meanwhile, Australian stocks advanced, with the S&P/ASX 200 up 0.7%.
Oil
Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output.
Brent crude futures for August settled up 93 cents, or 1.3%, to $70.25 a barrel after hitting $71 earlier in the session – its highest intra-day price since March 8. U.S. West Texas Intermediate crude for July was up $1.40, or 2.1%, to $67.72.
Financial News
Business Standard
Ø Non-banks’ NPAs may rise to 4.5-5 per cent by March 2022: Icra
Ø GMR, Adani, Godrej Properties among 9 companies qualified to redevelop the iconic CSMT railway station
Ø Sugar production up 13 pc to 305.68 lakh tonnes during Oct’20 – May’21
Ø Gold traders write to Finance Ministry to increase settlement period of gold metal loan
Ø SBI invites bids from ARCs for two accounts for recovering Rs 409 crore
Ø CIL’s coal offtake jumps 38 per cent to 55 million tonnes in May
Business Line
Ø Second Covid wave threatens India’s long-term credit rating, warns Moody’s
Ø ITC adjusted PAT rises 6.5% in Q4, declares final dividend of Rs 5.75
Ø Credit losses set to decline for most Asia Pacific banks, says S&P
Ø Sebi permits off market transfers to ease fund relocation to IFSC
Ø Suzlon bags order to develop 252 MW wind power project from CLP India
Ø Sebi bans eight, including 2 company staff, for insider trading in Infosys
Mint
Ø SBI’s Ecowrap revises FY22 GDP projection to 7.9% from 10.4%
Ø Without gas transmission pact with GSPL, IGX’s growth is hit: Mediratta
Ø TVS Motor total sales down 30 per cent in May
Ø PNB to write to IRDAI on stake sale plan in Canara HSBC OBC Life, says MD and CEO
Ø Maruti Suzuki sales decline 71 per cent in May over April
Ø Rolex Rings gets SEBI nod to launch IPO
Financial Express
Ø BRICS call for reforming United Nations, IMF, WTO and WHO
Ø OPEC+ set to sign off on July increase as market tightens
Ø Govt waives registration certificate issuance, renewal fee for EVs
Ø Sebi kicks in higher peak margin on day trade from today
Ø Wadhawan moves SC against NCLAT stay against his offer for DHFL
Ø PNB slashes MCLR across select tenors from today
Business World
Ø BSE SME, BSE Startups seek listing of small enterprises in ICT exports; partner with industry body ESC
Ø Revenue from shrimp export to jump 20% in CY21: Crisil
Ø BSE Star MF Logs Record 1.14 Cr Transactions Worth Rs 30,938 Cr In May
Ø Rupee Falls For 2nd Day, Declines 28 Paise To 72.90 Against Dollar
Economic Events
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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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