The UK’s top share index inched lower, weighed down by a disappointing update from banking heavyweight HSBC and declines in big mining stocks on metal price weakness.
Global investors cut equity holdings by the most in 2-years in Feb, a Bank of America Merrill Lynch survey showed, as world shares had their worst week since early 2016.
Against the euro, sterling rallied more than one percent to hit a one-week high of 87.41 pence EURGBP=.
Wall Street indexes rose with gains in consumer stocks such as Costco Wholesale helping a broad recovery.
US stocks climbed higher, boosted by gains in tech and banking shares and aided by news that the Republicans’ tax code overhaul should face final votes in Congress.
Wall Street advanced as tech stocks gained and traders took positions, overlooking concerns of benign inflation ahead of a likely interest rate hike by the Fed Reserve.
The Dow edged higher, with a 3 percent jump in shares of Boeing and rise in financial stocks, while losses in tech stocks weighed on the S&P 500 and the Nasdaq.
Wall Street ticked higher after a stronger-than-expected jobs data for Nov showed that economy has gained strength, ahead of a near certain interest rate hike next week.
Wall Street treaded water in choppy morning trading with gains in technology stocks offsetting losses in financial shares.
Tech stocks edged higher, while a rally in bank and other stocks powered by tax-cut optimism stalled, capping gains on the S&P 500 and the Dow.
Ultratech Cement leads race to take over Binani Cement
Offers around Rs 6,200 cr, 20% stake in co to unsecured financial creditors
Dalmia Bharat offers Rs 6,300 Cr
Dalmia seen to lose as UltraTech offering equity stake to creditors
Final decision on winner to be ratified by NCLT
Business Standard Reporst
4 companies put in bids for 9 operational national highways under ‘toll-operate-transfer’ model
Brookfield Asset mgmt, Macquarie, IRB Infra and Roadis- NIIF are cos in fray
NHAI hopes to generate more than Rs 6000 cr Under TOT model
auction will involve five highways running across Andhra Pradesh and four in Gujarat
total length of these highways is just under 700 km
Successful bidder to get toll collection rights for 30 years
Ministry of Commerce recommended Central Govt Anti dumping duty on Dimethylacetamide
Recommend duty for 5 Yrs on DMAC originating from China and Turkey
Co bags Rajasthan Project
Received a LOI to construct, own, operate and maintain Fatehgarh-Bhadla transmission project in Rajasthan
Received LOI from PFC Consulting Ltd, an arm of Power Finance Corporation
With this project, ATL will strengthen its existing presence in Rajasthan with 2 operational transmission projects and 4 under construction assets
On completion of this acquisition cumulative transmission network will reach 12000 ckt kms, out of which ~9000 ckt kms under operation
Transformation capacity of ATL will also increase to 19,300 MVA from 35 substations
To be out of F&O if it does not declare quarterly results by March 1
All existing F&O contracts will expire on March 28
No fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by March 1