Stocks Surge, Trigger Trading Halt; India's Rupee, Bonds Climb on Election India’s benchmark stock index jumped a record 17 percent, bonds rose and the rupee gained the most in two decades after Prime Minister Manmohan Singh’s Congress Party won nationwide elections.
Singh's `Game Changer' Election Victory May Unlock India's Economic Growth Prime Minister Manmohan Singh’s electoral victory, the biggest any Indian politician has scored in two decades, may loosen political shackles that have restrained the country’s economic growth as it struggles to free half a billion people from poverty.
Bharat Heavy CEO Says Congress Victory to Unleash Wave of Indian Projects Bharat Heavy Electricals Ltd., whose turbines and generators light up three of every four homes in India, expects as much as 70 billion rupees ($1.5 billion) of new orders in the first quarter as pending government projects are cleared following the Congress party’s electoral victory.
Monsoon Capital Says Economy May Halt The Post-Election `Feel-Good Rally' India’s post-election rally will likely last for a few weeks at the most, as the government battles an economic slump, said Gautam Prakash, founder of Monsoon Capital LLC with about $500 million of Indian assets.
Commodities Exchanges Seek Indian Regulator's Nod to Resume Wheat Futures National Commodity & Derivatives Exchange Ltd., India’s biggest bourse for farm goods, has sought regulator’s approval to resume trading wheat futures after the government scrapped a two-year ban last week.
Reforms Will Continue, Indian Prime Minister's Top Adviser Tendulkar Says India’s next administration, led by Prime Minister Manmohan Singh, will need to move carefully on opening up the economy due to the continuing financial crisis, a key adviser said.
Government Bonds Gain Most in Two Weeks on Speculation Singh to Cut Rates India’s 10-year bonds rose the most in almost two weeks on speculation Prime Minister Manmohan Singh, armed with a clear mandate from voters, will lower interest rates to revive the economy.
Indian Stocks Have Record Gain After Singh's Victory; Rupee, Bonds Surge India’s benchmark stock index jumped a record 17 percent, bonds rose and the rupee gained the most in two decades after Prime Minister Manmohan Singh’s Congress Party won nationwide elections.
U.S. Stock-Index Futures Gain on Lowe's Earnings; European Bonds, Oil Rise U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will rebound from last week’s 5 percent decline, as Lowe’s Cos. beat earnings projections and analysts recommended Bank of America Corp. Treasuries and European government bonds rallied, while oil gained.
Libor Decline Accelerates as Central Banks Flood Credit Markets With Cash The cost of borrowing in dollars between banks fell the most in two months as credit markets thaw amid record low interest rates and rising customer deposits.
Bankers' Pay May Escape Tougher Obama Caps as Wall Street Eyes Guidelines Wall Street expects the U.S. to loosen compensation caps for banks that received taxpayer aid, three months after Merrill Lynch & Co.’s $3.6 billion in bonuses drove Congress to impose them, according to executives at four of the country’s biggest financial firms.
State Street Will Sell Non-Guaranteed Senior Notes, $1.5 Billion in Shares State Street Corp., the world’s third-largest custody bank, plans to sell stock and debt after taking a $3.7 billion loss to add $22.7 billion of fixed-income investments to its books.
Buyout Firms Elude Fed Control as OTS Lets Private Equity Purchase Banks The Office of Thrift Supervision is opening a door the Federal Reserve has closed, allowing leveraged buyout firms to take control of banks amid the worst financial crisis since the Great Depression.
Stoxx 600 Most Expensive to U.S. Since '03 as Options, P/Es Show Gain Over European stocks are 55 percent more expensive than shares of U.S. companies just as the price of options to protect against losses in Europe climbs.
source: Bloomberg
