Hindalco Industries Full-Year Profit Falls 80% on Derivatives, Input Costs Hindalco Industries Ltd., India’s biggest aluminum producer, reported an 80 percent decline in full-year profit because of waning demand, higher raw material costs and derivatives losses.
Indian Stocks Retreat on Share Sale Plans, Paring Best Quarter in 17 Years Indian stocks fell, paring the benchmark index’s best quarter in 17 years, on concern share sales will draw liquidity away from existing equities.
Indian Rupee to Drop 4 Percent to 50 Per Dollar on U.S. Recovery, DBS Says India’s rupee will drop more than 4 percent in three months on speculation a faster recovery in the U.S., the world’s largest economy, will attract investors to the dollar, according to DBS Group Holdings Ltd.
Housing Development Leads $815 Million in Share Sales; GMR Scraps Offer Housing Development & Infrastructure Ltd. and four other Indian companies raised $815 million selling shares to institutional investors in two days, taking advantage of the benchmark index’s best quarter in 17 years.
National Spot Exchange to Lure Housewives With Small-Size Gold Contracts National Spot Exchange Ltd., India’s biggest bourse for trading physical gold, launched contracts in small denominations, aimed at households in the world’s largest consumer of the precious metal.
Wockhardt Hospitals's Bali Rules Out Revival of India IPO; Prefers Merger Wockhardt Hospitals Ltd., which scrapped an initial public offer in India last year due to poor investor response, ruled out a revival of the plan and said it would prefer private equity or merger with a strategic investor.
India's Monsoon Rains to Move Further Into Sugar Cane, Oilseeds Regions India’s monsoon, the main source of irrigation water for the nation’s 235 million farmers, will move further into the biggest sugar cane and soybeans-growing areas in the next one-to-two days, the weather office said today.
Government Bonds Decline on Concern India Will Increase Debt Sales Target India’s five-year bonds fell for the first time in six days on speculation the government will raise its debt-sale target for this fiscal year in the budget scheduled to be unveiled July 6.
Stocks in U.S. Fall on Mortgage Delinquencies, Consumer Confidence Slump U.S. stocks fell, paring gains at the end of the best quarter since 1998 for the Standard & Poor’s 500 Index, after consumer confidence unexpectedly slid and delinquencies on the least risky mortgages more than doubled.
Home-Loan Delinquencies Double on Least-Risky Mortgages, U.S. Report Says Delinquency rates on the least risky mortgages more than doubled in the first quarter from a year earlier as U.S. efforts to help homeowners failed to keep pace with job losses that pushed more borrowers toward foreclosure.
Consumer Confidence in U.S. Unexpectedly Drops, Reflecting Weak Job Market Confidence among U.S. consumers slipped unexpectedly in June, reflecting a weak labor market and rising energy costs.
BG Buys Assets From Exco for $1.06 Billion to Develop U.S. Shale Reserves BG Group Plc, the U.K.’s third- largest natural-gas company, bought assets from Exco Resources Inc. for $1.06 billion to develop its first U.S. shale gas project.
U.K. Economy Shrinks More Than Estimated in Biggest Contraction Since 1958 The U.K. economy shrank more than previously estimated in the first quarter in the biggest contraction since 1958 as the recession choked industries from construction to services.
Company Bonds in Europe Beat Government Debt With Record First-Half Return Corporate bonds in Europe posted record returns in the first half, outperforming the region’s government debt and stocks, amid investor demand for higher- yielding assets that helped boost issuance to a record.
ANZ Said to Be Seeking to Buy RBS Assets in Hong Kong, Four Asian Nations Australia & New Zealand Banking Group Ltd., Australia’s fourth-largest bank, may buy Royal Bank of Scotland Group Plc’s operations in at least five Asian countries, three people familiar with the plan said.
source: Bloomberg
