World Markets
06 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar awaits Fed minutes, kiwi aloft on rate expectations
- Asia-Pacific markets mixed as oil stocks rise
- Oil prices accelerate rise as OPEC+ calls off output talks
Currency
The U.S. dollar and other majors were mostly steady as investors wait on the minutes from the Federal Reserve’s meeting in June when it surprised markets with a hawkish shift. They are due to be published on Wednesday.
The euro held at $1.1860, more or less where it left off Friday and the yen rose a tad to 110.86 per dollar. Sterling nudged higher after Britain set plans to end COVID-19 restrictions in a fortnight, and last bought $1.3857.
The New Zealand dollar rose on Tuesday after a strong business survey pulled forward rate hike expectations there to as soon November, while its Australian counterpart crept higher ahead of its own crucial central bank policy meeting later in the day.
Equity
Most Asian share markets opened a fraction higher on Tuesday, ahead of a key decision by Australia’s central bank on its quantitative easing programme and despite ongoing concerns over the future regulation of China’s powerful technology sector.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.05%. In Hong Kong, the Hang Seng Index was down 0.7% while China’s CSI300 was off by nearly 0.3%. Japan’s Nikkei was up 0.45% while the S&P ASX200 stood 0.21% higher. In South Korea, the Kospi 200 Index rose 0.5% in early trade.
Mainland Chinese stocks, on the other hand, declined. The Shanghai composite slipped 0.27% while the Shenzhen component dipped 0.222%.
Oil
Oil prices rose on Tuesday, driven higher after OPEC+ nations called off talks on output levels, meaning no deal to boost production has been agreed.
Brent was up 94 cents, or 1.2%, at $77.11 a barrel by , trading around 2-1/2 year highs. U.S. oil gained $1.11, or 1.5%, to $76.27 a barrel. OPEC+ ministers abandoned the talks and set no new date to resume them, after clashing last week when the United Arab Emirates rebuffed a proposed eight-month extension to output curbs.
Business News Headlines
Economic Times
Ø Tata Motors plans to hike passenger vehicles prices
Ø FMCG cos see double-digit sales growth in June quarter amid pandemic
Ø Online fashion brand Tjori signs Rs 16 crore equity deal with Hindustan Times
Ø Heranba Industries gets environmental clearance for Rs 110 crore expansion plan
Ø M&M to give its marketing structure a big digital boost
Ø Cash-strapped Vi planning to monetise assets to raise $1 billion
Ø OneWeb in talks to reduce access terminal costs, says Sunil Mittal
Ø IndusInd Bank June-end net advances up 7% at Rs 2.11 lakh cr
Ø Govt to sell up to 7.49% equity in NMDC Ltd through OFS
Ø Corporate buybacks gain steam with banks poised to boost buying
Ø MCX and Europe’s EEX sign MoU to share knowledge and expertise on electricity derivative products
Business Standard
Ø Zomato’s mega IPO gets Sebi nod, may hit market as early as this month
Ø Kotak Pre-IPO AIF raises Rs 1,386 cr, to invest in tech-focused businesses
Ø Steel companies reduce prices by Rs 1,200-2,000 a tonne across products
Ø Govt extends timeline for feedback on draft e-commerce rules to July 21
Ø Sebi announces new rules to make bourses pay for technical glitches
Ø Govt not to impose anti-dumping duty on certain copper items import
Ø India’s June services activity shrinks at fastest rate in 11-months
Ø Icra cuts cement, road logistic growth outlook for FY22 due to second wave
Ø Demand from Western markets helped Indian Textile sector stay afloat
Ø Paytm to file draft prospectus next week for $2.3-bn IPO: Report
Financial Express
Ø No case for auction of satcom spectrum: Bharti Group Chairman Sunil Mittal
Ø Restaurant body NRAI approaches CCI on deep discounting, data masking, more by Zomato, Swiggy
Ø Demand for residential realty bounces back in June 2021: Report
Ø Tata Motors to hike prices for cars and SUVs again this year
Ø NTPC Renewable Energy Ltd IPO to hit markets in 2022-23
Ø India’s services sector activities slump at fastest rate in 11 months in June: PMI
Ø Relief package: Spending curbs on ministries seen offsetting cost
Ø Mcap of eight of 10 most valued firms falls by Rs 65,176cr
Ø HDFC Bank loans rise over 14 pc to Rs 11.47 lakh cr in June
Ø BHEL supplies medical oxygen plant in record time
Mint
Ø Sebi gets strict on stock market snags
Ø Raymond’s lifestyle biz CEO Joe Kuruvilla resigns
Ø KKR inks deal to buy GIP’s highway portfolio in India
Ø Margin pressures may offset revenue gains of IT firms in Q1
Ø In OPEC deadlock, UAE steps out of Saudi shadow
Ø OPEC+ deal fails, leaving oil market tighter as prices surge
Ø Government asks airlines to increase capacity
Ø Agriculture prices to ease but hunger, climate goals are far off
Ø Religare Enterprises to raise ₹570 cr via preferential issue of shares
Ø NTPC floats tender for deploying hydrogen fuel cell buses in Delhi, Leh
Ø Axis Bank to focus on scaling up subsidiaries, says Amitabh Chaudhry
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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