Sensex, Nifty Set To Extend Losses As Israel Launches 'pre-emptive Strikes' Against Iran

RTTNews | vor 52 Tagen

(RTTNews) - Indian shares may extend losses from the previous session on Friday after Israel launched an airstrike on Iran and declared a special state of emergency.

Brent crude futures surged more than 9 percent as the attack escalated tensions in the Middle East, a major oil producing region.

On the tariff front, U.S. President indicated flexibility on extending the July 8 deadline for securing trade agreements with key trading partners, adding he believes it might not be essential.

Meanwhile, the specifics of the latest U.S-China framework agreement and details on how it will be implemented remain unclear.

It appears that there may still be significant disagreements and some details are yet to be worked out.

Benchmark indexes Sensex and Nifty fell around 1 percent each on Thursday in the face of trade uncertainties and heightened geopolitical risks.

The rupee ended down 9 paise at 85.60 against the greenback, snapping its five-day winning streak, pressured by corporate demand for dollars and likely portfolio outflows.

Asian markets traded lower this morning, with Japan and South Korea leading regional losses, led by a sell-off in U.S. equity futures.

The dollar and bond yields fell, sending investors scurrying to safe havens such as gold and the Swiss franc.

Gold climbed more than 1 percent to $3,427 per ounce, while Brent crude futures were up 9.1 percent at $75.69 a barrel.

Overnight, U.S. stocks recovered from an early slide to end modestly higher, buoyed by a strong rally in Oracle shares and data showing that producer price inflation rose less than expected in May.

The dollar hit a three-year low and U.S. 30-year yields approached the 4.8 percent mark after a solid sale of long-term Treasuries.

The Dow gained 0.2 percent and the S&P 500 added 0.4 percent to reach three-month closing highs while the tech-heavy Nasdaq Composite edged up by 0.2 percent.

European stocks ended mostly lower on Thursday, with renewed trade and geopolitical tensions weighing on markets. The pan European STOXX 600 declined 0.3 percent.

The U.K.'s FTSE 100 rose 0.2 percent as downbeat GDP data spurred hopes the Bank of England may cut interest rates again soon. France's CAC 40 slid 0.1 percent and the German DAX fell 0.7 percent.

U.S. Factory Orders Pull Back Sharply In June

After reporting a substantial increase by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Monday showing factory orders pulled back sharply in the month of June. The Commerce Department said factory orders dove by 4.8 percent in June after soaring by an upwardly revised 8.3 percent in May.

RTTNews | vor 3Std 11 Minuten

Weak Jobs Data Limits Dollar's Rebound

A smaller-than expected addition to non-farm payrolls curtailed the dollar's rally fueled by a hawkish Fed stance, higher-than-expected PCE-inflation readings, as well as anxiety ahead of the U.S.-China trade talks and the looming trade tariff deadline.

RTTNews | vor 3Std 13 Minuten

Eurozone Investor Sentiment Weakens Unexpectedly

Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.

RTTNews | vor 4Std 31 Minuten

Bay Street Seen Opening On Cautious Note

Canadian stocks may open on a mixed note on Monday with investors likely to stay cautious ahead of implementation of levies imposed by U.S. President Donald Trump, and a slew of earnings announcements due this week. Weak oil prices may weigh a bit.

RTTNews | vor 4Std 39 Minuten

FTSE 100 Modestly Higher; Lloyds Banking Group Rises Nearly 8%

The UK market is up in positive territory on Monday with stocks from the financial sector contributing significantly to the upmove after the outcome from the UK's motor finance investigation turned out to less severe than feared, with potential compensation estimated at 9 billion pounds, much less than the expected quantum o 30 billion pounds.

RTTNews | vor 5Std 30 Minuten