World Markets
14 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar hits three-month high to euro on bets for faster Fed tightening
- Asia-Pacific stocks mostly fall after hotter-than-expected U.S. inflation report
- Oil rises nearly 2% as investors size up tight market
Currency
The U.S. dollar touched a three-month high versus the euro and a one-week high versus the yen on Wednesday, after heated U.S. inflation spurred bets of faster monetary policy tightening than Federal Reserve officials have so far signalled.
The dollar strengthened to $1.17720 per euro, the highest since April 5, for a second day running on Wednesday, and was last little changed from Tuesday at $1.17755. It rose to 110.70 yen for the first time since July 7, last trading about flat at 110.66.
The dollar index, which measures the U.S. currency against a basket of six peers, was little changed at 92.783 after earlier rising as high as 92.832 — just below the 92.844 level reached last week for the first time since April 5.
Equity
Shares in Asia-Pacific mostly slipped in Wednesday morning trade following a hotter-than-expected U.S. inflation report for June overnight.
The Shanghai composite in mainland China declined 0.61% while the Shenzhen component fell 0.55%. Hong Kong’s Hang Seng index shed 0.52%. In Japan, the Nikkei 225 slipped 0.14% while the Topix index sat above the flatline. The Kospi in South Korea dipped 0.26%. Meanwhile, Australia’s S&P/ASX 200 edged 0.37% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.19%.
Overnight on Wall Street, the Dow Jones Industrial Average declined 107.39 points to 34,888.79 while the S&P 500 slipped 0.35% to 4,369.21. The Nasdaq Composite dipped 0.38% to 14,677.65.
Oil
Oil prices gained almost 2% on Tuesday after the International Energy Agency said the market should expect tighter supply for now due to disagreements among major producers over how much additional crude to ship worldwide.
Brent crude rose $1.33, or 1.8%, to settle at $76.49 a barrel, while U.S. West Texas Intermediate crude rose $1.15, or 1.6%, to settle at $75.25 a barrel.
Business News Headlines
Economic Times
Ø Adani Electricity set to raise $300 million via sustainable offshore bonds.
Ø Vijay Mallya’s last nominee on UBL board to step down.
Ø Government may extend scheme for investment promotion.
Ø India Glycols bets on liquor, value-added chemicals as it weans of commoditised products.
Ø NSE-BSE bulk deals: HSBC Smallcap Fund buys stake in CMI.
Ø Mukesh Ambani considers bid for India’s solar incentives in green push.
Ø Srei Equipment Finance invokes 2.08% stake in Eros International Media.
Ø PNB Housing Finance-Carlyle deal: Sebi questions directors’ role.
Ø Adani blames stock crash on ‘reckless’ reporting.
Ø India’s June palm oil imports down 24 per cent from previous month.
Ø Tax havens in trouble as MNCs rejig global operations.
Business Standard
Ø Zomato allots shares worth Rs 4,195 cr to anchor investors ahead of IPO.
Ø Magenta sets up largest public EV charging station in Navi Mumbai.
Ø NTPC gets govt nod to set up country’s single largest solar park in Gujarat.
Ø Valuation of Indian unicorns to rise manifold amid pandemic: Experts.
Ø Sunteck Realty first quarter sales booking up 74% at Rs 176 crore.
Ø Godrej Consumer leveraging on data and tech, strengthening its e-commerce.
Ø India Rating downgrades Sadbhav Engineering, Sadbhav Infra over liquidity.
Ø Mphasis granted US patent for AI-driven app, infra management solution.
Ø India needs forex reserves buffer to beat exchange rate volatility: Rajan.
Ø Govt may liberalise policy to promote alternative fertilisers: Mandaviya.
Financial Express
Ø CPI inflation stays above RBI comfort zone.
Ø Unemployment rises as labour participation improves.
Ø Metals & Mining: Q1FY22 preview – Another blockbuster quarter in the offing.
Ø RBI scheme for individuals to invest in govt securities: Retail Direct Gilt Account.
Ø Paytm shareholders approve country’s biggest public offer plan of Rs 16,600 crore.
Ø Jana Small Finance Bank gets Sebi’s go-ahead to float IPO.
Ø Govt caps trade margin on pulse oximeter, nebuliser, digital thermometer at 70%.
Ø Tata Consultancy Services Rating: Hold – Revenue growth missed estimates in Q1.
Ø IT earnings, macro data to guide stock markets this week: Analysts.
Ø S&P affirms India rating at lowest investment grade for 14th year in a row.
Mint
Ø Thai state-owned PTT’s unit acquires 41.6% stake in Avaada Energy.
Ø Adani Group takes over management control of Mumbai International Airport.
Ø OPEC+ uncertainty, virus variant worries linger in oil market, IEA says.
Ø NMDC board approves demerger of NMDC Steel.
Ø JPMorgan profit surges on investment banking boost.
Ø Goldman Sachs Q2 profits beat forecasts; boosts dividend.
Ø Mindtree sees broad-based growth, Q1 profit up 61% YoY.
Ø Power demand in India expected to grow 6% in FY22: Icra.
Ø Maharashtra government rolls out new EV policy.
Ø NTPC to build India’s largest solar park of 4.75 GW in Rann of Kutch.
Ø Hospitals likely to report 20-22% revenue growth in FY22: Icra.
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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