World Markets
24 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar rally sputters as Fed sends mixed signals on inflation
- Asia-Pacific stocks struggle for direction after S&P 500 ends winning streak on Wall Street
- Oil climbs as draw in U.S. crude stocks boosts optimism about demand
Currency
The U.S. dollar vacillated below an 11-week high versus major peers on Thursday as traders attempted to navigate conflicting signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus.
The dollar index, which measures the greenback against six rivals, stood at 91.806 early in the Asian session after dipping to 91.509 on Wednesday. It was at 92.408 at the end of last week, the highest since April 9.
The euro was little changed at $1.19295 on Thursday compared to the previous session, when it rose as high as $1.19700 for the first time in a week. It had dipped to the lowest since April 6 on Friday, at $1.18470. The Japanese yen weakened as far as 111.11 per dollar for the first time in 15 months, and was last 0.1% weaker at 111.03.
Equity
Shares in Asia-Pacific struggled for direction in Thursday morning trade after the S&P 500 on Wall Street snapped its two-day winning streak overnight.
Mainland Chinese stocks slipped in early trade, with the Shanghai composite down 0.28% while the Shenzhen component dipped 0.344%. Over in Hong Kong, the Hang Seng index advanced 0.36%. In Japan, the Nikkei 225 hovered above the flatline while the Topix index slipped 0.11%. South Korea’s Kospi gained 0.35%. Meanwhile, the S&P/ASX 200 in Australia declined 0.42%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.12% higher. Overnight stateside, the S&P 500 slipped 0.11% to 4,241.84, ending a two-day winning streak. Still, the index sits 0.4% from an all-time high. The Dow Jones Industrial Average shed 71.34 points to 33,945.59 while the Nasdaq Composite rose 0.13% to 14,271.73.
Oil
Oil prices climbed on Thursday after a sharp drawdown in U.S. crude and gasoline stocks reinforced optimism of a quick recovery in fuel demand and on doubts about the future of the 2015 Iran nuclear deal that could end U.S. sanctions on Iranian crude exports.
Brent crude futures rose 9 cents, or 0.1%, to $75.28 a barrel , after increasing 0.5% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures gained 6 cents, or 0.1%, to $73.14 a barrel, after rising 0.3% on Wednesday.
Financial News
Economic Times
Ø Auto companies warm up to invoice discounting to boost suppliers’ cash flow
Ø Reliance Infra in talks to sell Rs 1,400 cr worth of road assets to Cube Highways
Ø Heineken becomes UBL’s largest shareholder, buys 39.6 million shares in huge block deal
Ø Sebi bars Sterling Biotech’s directors from securities markets on GDR manipulation
Ø Anmi calls for withdrawal of penalty for incorrect client statement submission
Ø Minda Industries makes foray into Uzbekistan, to buy 51% stake in UZ Chasys
Financial Express
Ø Moody’s cuts 2021 India’s growth forecast to 9.6 pc, flags low vaccination rate as risk
Ø Household financial savings moderated to 8.2 pc of GDP in Q3FY21: RBI
Ø FICCI urges govt to support tourism, hospitality industry
Ø Piramal Pharma completes acquisition of Hemmo Pharmaceuticals
Business Standard
Ø ED transfers Rs 9,371-cr assets seized from Mallya, Nirav, Choksi to PSBs
Ø GMR Infrastructure to sell stake in Indonesia mine to raise $400 million
Ø Wabco OFS subscribed 1.8 times, India pesticides fully subscribed
Ø Jamsetji Tata tops global list of top 10 philanthropists from last 100 yrs
Ø Kalrock-Jalan consortium receives NCLT nod to fly Jet Airways
Business Line
Ø Maharashtra okays Adani taking over Navi Mumbai airport project
Ø DoT allocates 5G trial spectrum to MTNL
Ø Promoters buy ₹1,810 crore worth of APSEZ, Adani Green shares
Ø Hike minimum selling price of sugar to ₹34.50/kg: Mills urge Centre
Mint
Ø Oil producers to make record profits this year: Report
Ø Guenter Butschek steps down as Tata Motors chief & MD
Ø FMCG companies log sales growth after Unlock 2.0
Ø Middle East’s share of India’s oil imports hits 25-month low
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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