The IPO, expected to raise up to $2.74 billion, is India’s largest ever. Its partial listing is part of plans by Prime Minister Narendra Modi to privatise some industries and boost state coffers
Markets1 week ago
At 0706 GMT, the FTSEurofirst 300 index of top European shares was up 0.6 percent at 1,064.98 points, after losing 2.7 percent in three days.
A draft statement by the ministers, obtained by Reuters, showed that in case of an emergency over the next 15 months, the euro zone could raise the combined firepower of its two bailout funds to 940 billion euros from 500 billion now.
Cyclical mining shares were among the top gainers, with Rio Tinto up 1.5 percent and Xstrata up 0.7 percent.
But despite Friday’s recovery, chartists remained cautious on the outlook for European stocks for the next few weeks.
“All the European markets have broken below their 2012 trend channels, and except for the DAX, all the 50-day moving averages have been pierced on the downside. Now, indices are getting close to March lows,” Aurel BGC chartist Gerard Sagnier said.
“It’s not impossible to see a very short-term technical bounce, but we’ll have to wait for the consolidation phase, which has just started, to stabilise before going ‘long’ again.”
The IPO, expected to raise up to $2.74 billion, is India’s largest ever. Its partial listing is part of plans by Prime Minister Narendra Modi to privatise some industries and boost state coffers
Markets1 week ago
The selling pressure intensified after the RBI Governor Shaktikanta Das announced that the Monetary Policy Committee has unanimously decided to hike the policy rate by 0.40 per cent with immediate effect
Markets1 week ago
Markets remain skittish regarding an expected aggressive Fed monetary policy
Markets1 week ago
Investors expect the Fed to hike rates by 50 basis points when it meets on Tuesday, Wednesday
Markets2 weeks ago
Fears that the war may lead to an interruption of oil or gas supplies from Russia have pushed up their prices
Markets2 weeks ago
The dollar index was trading 0.05% higher at 102.34
Markets2 weeks ago
Spot gold was down 0.44% at $1,898.37 per ounce, as of 9.12am UAE time
Markets2 weeks ago
The dollar index was trading 0.21% lower at 101.54
Markets2 weeks ago