World Markets

World Markets

08 June 2021

World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.

  • Dollar subdued as investors look to key U.S. inflation gauge
  • Asia-Pacific stocks mixed; Japan’s economy shrinks less than expected in the first quarter
  • Oil falls again amid concerns over demand rebound

World MarketsCurrency

The U.S. dollar was subdued on Tuesday as investors looked to U.S. inflation data due later in the week after softer-than-expected jobs data quelled expectations of an early tapering in the Federal Reserve’s stimulus.

The euro fetched $1.21915, bouncing back from its three-week low of $1.2104 set on Friday while the dollar eased to 109.26 yen, losing steam after having hit a two-month high of 110.325 late last week.

The dollar’s index against a basket of six major currencies stood at 90.021, not far from 89.533, a 4 1/2-month low touched late last month.

Equity

Shares in Asia-Pacific were mixed in Tuesday morning trade, as investors reacted to the release of Japan’s revised first-quarter gross domestic product figures. Revised government data released Tuesday showed Japan’s economy shrank 3.9% in the first quarter, an improvement from the initial estimate of a 5.1% contraction.

The Nikkei 225 in Japan gained 0.26% while the Topix index traded about 0.3% higher. MSCI’s broadest index of Asia-Pacific shares traded 0.1% higher

Mainland Chinese stocks slipped in early trade, with the Shanghai composite declining 0.19% while the Shenzhen component dipped fractionally. Over in Hong Kong, the Hang Seng index advanced 0.23%. Elsewhere, South Korea’s Kospi was roughly 0.1% higher. The S&P/ASX 200 in Australia edged 0.22% higher.

Overnight on Wall Street, the S&P 500 struggled to reach a record high, slipping roughly 0.1% on the day to 4,226.52. The Dow Jones Industrial Average dropped 126.15 points to 34,360.24 while the Nasdaq Composite gained 0.49% to 13,881.72.

Oil

Oil prices lost more ground on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China’s oil imports fell in May.

Brent crude was down 11 cents, or 0.2%, at $71.38 a barrel , after declining 0.6% overnight. U.S. oil was off by 13 cents, or 0.2%, at $69.10 a barrel, having dropped by 0.6% in the previous session.

Financial News

Business Standard

Ø  Indian Oil signs up to invest Rs 24,000 crore in Gujarat refinery expansion, petrochemical project
Ø  PSU bank privatisation plan could face hurdles amid Covid: Fitch
Ø  Curb excess import of edible oils from Nepal, trade body SEA tells government
Ø  Homebuyers’ body FPCE says RERA’s project completion objective yet to be achieved
Ø  Second Covid wave may restrict CV sales growth to 23-28 % in FY22: Crisil
Ø  Govt extends free foodgrains scheme till Nov for 80 crore beneficiaries

Business Line
Ø  Lenders can realise Rs 55,000-60,000 crore from IBC cases in FY22
Ø  Reserve Bank imposes penalty on Bank of India, PNB totalling Rs 6 crore
Ø  Sebi fines Franklin MF Rs 5 cr, asks it to return Rs 512 cr fund mgt fees
Ø  Anil Ambani to raise stake in Reliance Infra via creeping acquisition
Ø  US FDA approves Biogen’s drug aducanumab to treat Alzheimer’s disease
Ø  ED transfers Rs 5,600-cr UBL shares to recovery officer’s demat account

Mint
Ø  Lenders approve Tata Steel arm’s bid for Rohit Ferro-Tech
Ø  Tata Digital to invest $75 million in CureFit
Ø  India to add 20GW wind capacity by 2025: GWEC
Ø  IREDA extends CPSU scheme phase II deadline till June 15
Ø  CIE-IIITH, SucSEED join hands to invest in deep tech startups
Ø  MRF posts ₹431-cr profit in Q4

Financial Express
Ø  America offers the backdrop for global economic trends
Ø  Sebi tweak prompts companies to advance listing plans
Ø  Paytm said to move ahead with planned $3 billion IPO
Ø  Quess Corp’s new dividend policy gives hope to investors
Ø  Jaypee insolvency: Suraksha group sweetens bid just before lenders’ meet
Ø  DHFL shares may get delisted post acquisition by Piramal

Business  World
Ø  NCLT approves Piramal Group’s offer for DHFL on certain conditions
Ø  Businesses struggling with rising cost of raw materials: PHDCCI survey
Ø  Goodyear Acquires Cooper Tire & Rubber Company
Ø  Union Bank Of India Q4 Profit At Rs 1,330 Cr

Economic Events

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.

 

Sources

https://www.reuters.com/

https://in.investing.com/