Lacklustre start to the final week of June: Copper, Nikkei 225, EUR/GBP
Wall Street added to recent losses overnight, as the moderation from previous overbought technical conditions and extreme bullish sentiments continues.
Nestle Ramps Up Nigeria Raw Material Sourcing as Forex Squeeze Bites
Nestle ramps up sourcing in Nigeria, other African countries Nigeria last week allowed naira currency to drop as much as 36 Nestle has given local suppliers letters of intent Provides technical expertise, financial support LONDON, June 26 Reuters Food giant Nestle39;s businesses in Nigeria and other African countries are ramping up sourcing of local raw materials […]
PacWest Sells 3.5 bln Loan Portfolio to Asset Management Firm Ares
June 26 Reuters PacWest Bancorp said on Monday it was selling a 3.54 billion lender finance loan portfolio to asset management firm Ares Management, in an attempt to boost liquidity at the U.S. regional lender, sending its shares up nearly 5. A relentless rate hike campaign by the Federal Reserve has raised risks of more loans […]
Teslas Searing Rally Elicits Downgrades, Caution on Wall St
June 26 Reuters A blistering rally in Tesla Inc shares has powered the EV maker39;s market value toward trilliondollar levels, prompting some analysts to question its valuation and downgrade the stock. Goldman Sachs on Monday cut Tesla to hold equivalent rating, joining Morgan Stanley and Barclays, which downgraded the stock last week. The brokerages, however, raised […]
Barclays Appoints new Heads of Forex Trading
June 26 Reuters Barclays named new heads of foreign exchange trading on Monday in the latest senior appointments at its investment bank as the British lender strives to break Wall Street rivals39; hold on global rankings. Torsten Schӧneborn and Jerry Minier have been appointed as coheads of G10 FX trading, the bank said. Schӧneborn is the […]
Indias Nifty 50 Ends Higher on Auto Boost; Midcaps Climb
BENGALURU, June 26 Reuters India39;s bluechip Nifty 50 ended a touch higher on lasthour buying on Monday, lifted by gains in automakers after monsoons revived in some parts of the country, while midcap stocks climbed sharply. The Nifty closed up 0.14 at 18,691.2, while the SP BSE Sensex dipped 0.01 to 62,970.00. However, the Nifty midcap 100 […]
Rupee Holds in Narrow Range around 82USD, Premiums Higher
MUMBAI, June 26 Reuters The Indian rupee stuck to a narrow range and hovered around the 82perdollar level on Monday, amid deeper losses for most Asian currencies and a lack of speculative interest, traders said. The rupee traded in an 81.940082.0475 range before ending at 82.0400 to the dollar, marginally lower than 82.0350 on Friday. […]
Turkeys Lira Hits new Low after Bank Rules Rollback
Lira has weakened 28 this year Most of declines occurred since last month39;s elections New finmin, cenbank governor move towards orthodox policy ANKARA, June 26 Reuters The Turkish lira slid as much as 3 to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers […]
Rouble Opens at 15Month Low vs Dollar after Aborted Mutiny
June 26 Reuters The Russian rouble opened at a near 15month low against the dollar in early morning trade on Monday, responding for the first time to an aborted mutiny by heavily armed mercenaries over the weekend. By 0415 GMT, the rouble was 2.1 weaker against the dollar at 86.50 , after earlier hitting 87.2300, […]
USD Tentative, Investors Eye Global Rates; Economic Outlook
SINGAPORE, June 26 Reuters The dollar was on the back foot on Monday, though it found some safe haven support on lingering worries that the protracted monetary tightening cycles from major central banks would further hurt the global economic outlook. Dramatic weekend events in Russia also kept investors on guard, though reaction in the currency market was […]