World Markets

World Markets

07 July 2021

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

  • Euro near 3-month low after soft data, dollar looks to Fed’s minutes
  • Asia-Pacific shares mixed after S & P ends 7 day winning streak
  • Oil steadies after tumble as market awaits OPEC+ clarity

World MarketsCurrency

The euro staggered near a three-month low against the dollar on Wednesday after disappointing German data raised doubts about the strength of the economic recovery, while the dollar awaited the Federal Reserve’s minutes from its last policy meeting.

The single currency changed hands at $1.1820, having touched a three-month low of $1.1806 on Tuesday. Against the yen, it fell to 130.81 yen, edging near its two-month low of 130.05 set on June 21.

Equity

Shares in Asia-Pacific were mixed in Wednesday morning trade following losses on Wall Street with the S&P 500 ending its seven-day winning streak. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.46% lower.

Hong Kong’s Hang Seng index led losses among the region’s major markets, falling 0.9%. Mainland Chinese stocks were mixed, with the Shanghai composite slipping 0.19% while the Shenzhen component advanced 0.333%. In Japan, the Nikkei 225 dropped 0.75% while the Topix index declined 0.52%. South Korea’s Kospi shed 0.68%. Over in Australia, the S&P/ASX 200 rose 0.58%.

Overnight on Wall Street, the S&P 500 shed 0.2% to 4,343.54 — snapping a seven-day winning streak. The Dow Jones Industrial Average fell 208.98 points to 34,577.37 while the Nasdaq Composite closed at a new record, rising 0.17% to 14,663.64.

Oil

Oil prices steadied on Wednesday after a steep drop in the previous session, following the cancellation of talks among OPEC+ producers that raised the prospect that the world’s major crude exporters will turn on the taps to gain market share.

Brent crude was up 3 cents at $74.56 a barrel , after slumping more than 3% on Tuesday. U.S. oil was up 7 cents at $73.44 a barrel, having declined by more than 2% in the previous session.

 

Business News Headlines

Economic Times

Ø Kotak Mahindra Bank subsidiary to acquire 10% stake in KIPL
Ø SBI to auction two NPA accounts to recover dues of over Rs 313 cr
Ø Paytm rejigs board ahead of its $2.2 billion IPO
Ø IIFL Home Finance to raise up to Rs 1,000 crore via bonds
Ø Coforge board approves proposal to raise Rs 375 cr
Ø Govt eyes over Rs 3,600 cr by divesting 7% in NMDC
Ø SAT to hear matter on PNB Housing-Carlyle deal next week
Ø Clean Science and Technology raises Rs 464 cr from anchor investors
Ø Info Edge to acquire Axilly Labs for Rs 21 crore
Ø DHFL resolution: NCLAT issues notices to lenders, Piramal on 63 Moons Tech’s plea
Ø Kalyani Steel running at 100% capacity, may need new plant to cater to rising demand: RK Goyal, MD

Business Standard

Ø Double-digit volumes to drive Q1 growth for Godrej Consumer, Marico
Ø NSE clarifies on Nifty Futures ‘freak trade’, seeks explanation from broker
Ø JLR warns of lower Q2 volumes, downgrades outlook due to chip shortage
Ø Private banks’ loan books shrink in Q1 amid second wave of Covid-19
Ø Mutual fund AUM grows 3.3% sequentially in June qtr, smaller AMCs see churn
Ø Inflation could impact liquidity flowing into equities: IIFL Wealth Jt CEO
Ø Sumitomo Mitsui Financial Group to acquire 74.9% stake in FICC for $2 bn
Ø GST collections fall below Rs 1-trn mark after eight months in June
Ø Bajaj Finance books fewer new loans in June quarter over March
Ø Paytm to file draft prospectus next week for $2.3-bn IPO: Report

Financial Express

Ø Unemployment rate falls to 7.3% as India unlocks
Ø Adani Total Gas, SAIL, NMDC reclassified as largecaps by AMFI
Ø Info Edge reduces OFS size in Zomato IPO by half
Ø Increasing imports of tea a matter of great concern
Ø NTPC Renewable Energy Ltd IPO to hit markets in 2022-23
Ø Repco Home Finance Rating ‘Buy’; Q4 earnings were above estimates
Ø Adani Ports & SEZ Rating ‘Buy’; Firm largely insulated from Group entities
Ø Sebi cuts time period for filing application to obtain NOC for release of 1 pc of issue amount
Ø GST revenue slips below Rs 1 lakh cr mark in June, at Rs 92,849 crore
Ø Sumitomo Group to snap up Fullerton Credit in $2.5 bn deal

Mint

Ø Sanofi seeks nod to conduct phase 3 trial of its jab in India
Ø Oil slides from multi-year highs after OPEC cancels meeting
Ø Bajaj Finance gives relief on growth, but asset quality must justify valuations
Ø Paytm reshuffles board before floating mega IPO
Ø Metal, PSU stocks top upgrades in Amfi m-cap review
Ø Investment advisors cannot take power of attorney from clients: Sebi
Ø Wipro commits ₹1k crore more for COVID-19
Ø Housing sales down 76% in 8 cities from April-June: PropTiger
Ø NMDC OFS over-subscribed 2.13 times on Day 1
Ø Tata Power ties up with California-based AutoGrid for AI based energy management
Ø Sebi defines ‘same line of business’ under delisting rules

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/