A stronger dollar and slightly higher global borrowing costs kept world shares subdued and left gold limping toward its worst week since December.
MSCI’s all-country equity index .MIWD00000PUS fell 0.4 percent for its third straight day of losses while emerging equities lost 1 percent .MSCIEF.
Weakness across Asia where Tokyo saw a 1% drop meant MSCI’s 47-country world share index was 0.2 percent in the red.
Next week’s full-year results from HSBC (HSBA.L), Lloyds (LLOY.L), Barclays (BARC.L) and RBS (RBS.L) will be crucial.
The MSCI world index of stocks, which tracks shares in 47 countries, was up 0.4 percent.
Stocks, bond yields steamed higher while the dollar tumbled, as investors suddenly seemed to forget the inflation fears blamed for a brutal market sell-off.
If US inflation does accelerate, markets could see Treasury yields get above the 3% level that several investment banks had set as their year-end target.
S&P mini futures fell as much as 2.5 percent to nearly four-month lows in Asia.
The lag in earnings expectations could make European shares more vulnerable to a potential pullback. European stocks just had their worst week in more than a year.
World stocks were in their biggest two-day dive in six months and commodities were also jammed in reverse, as rising U.S. borrowing costs cooled financial markets.
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