India's Stock Market Recovery May Track Gains in 2003, Morgan Stanley Says A rebound in Indian stocks this year may echo a recovery that started in 2003, when a flood of liquidity helped sustain higher share prices even as valuations climbed, Morgan Stanley said.
Fortis Healthcare to Buy Ten Wockhardt Hospitals to Expand in South India Fortis Healthcare Ltd., India’s biggest health-care chain by market value, will buy 10 hospitals from Wockhardt Hospitals Ltd. for 9.09 billion rupees ($187 million), bringing it closer to industry leader Apollo Hospitals Enterprise Ltd.
Bonds Decline in India on Concern Rally in Commodities May Stoke Inflation India’s 10-year bonds fell for a fourth day, pushing yields to a nine-month high, on concern a global commodities rally will stoke inflation.
Rupee Trades Near One-Week High on Signs Economic Recovery Is Gaining Pace India’s rupee was hear a one-week high as a worldwide rally in stocks and commodities added to optimism a global economic recovery is gathering pace.
Drought May Pare India's Oilseeds Harvest, Supporting Palm Oil, Patel Says India, the world’s biggest buyer of palm oil after China, may produce fewer monsoon-sown oilseeds as dry weather in the main growing areas reduced sowing of peanuts.
Oil India to Sell Shares at 950-1,050 Rupees Apiece in Intial Public Offer Oil India Ltd., the nation’s second- biggest oil explorer, will sell shares at 950 rupees ($19.5) to 1,050 rupees apiece in its initial public offering starting on Sept. 7, the company’s director of finance said.
Asian Stocks Rise on U.S. Home Sales, Commodities; BHP, Mitsubishi Advance Asian stocks rose, with the MSCI Asia Pacific Index advancing the most in six weeks, after sales of existing homes in the U.S. surged by a record and China Construction Bank Corp. reported higher-than-estimated profit.
Hindustan Petroleum, Refiners Fall as Rising Crude Widens Losses on Fuels Hindustan Petroleum Corp. led declines among India’s state refiners in Mumbai on speculation crude oil’s rise to a 10-month high may lead to wider losses from selling fuels below cost.
Metals, Stocks Advance as Bernanke, Trichet Bolster Confidence in Economy Industrial metals advanced and stocks rose around the world for a fifth day as leaders of the world’s biggest central banks buttressed confidence in the global economic recovery.
Bond Bears Dumping Two-Year Treasuries Defy Fed History on Interest Rates Bond investors that drove two-year Treasuries down on Aug. 21 by the most since early June after Federal Reserve Chairman Ben S. Bernanke said the economy is “beginning to emerge” from recession may find themselves wishing they had held onto the securities.
Birinyi Says U.S. Stock Market Rally Signals a `Stronger' Economic Rebound The economy’s rebound will be stronger than most forecasters expect, Laszlo Birinyi said, citing the rally that pushed the Standard & Poor’s 500 Index to the highest level since October.
Bank of America Shuns Packaging Credit Card Debt to Avoid Subprime Label Bank of America Corp., saddled with the worst credit-card default rates among its biggest rivals, is shunning the asset-backed securities market it tapped for $13.7 billion last year.
GM Said to Be Close to Agreeing on Hummer Sale to Chinese Machinery Maker General Motors Co. may sign an agreement for the sale of the Hummer sport-utility vehicle business to a Chinese machinery maker this week, said two people familiar with negotiations.
Sumitomo Mitsui Will Form Investment Bank in Japan With Citigroup Assets Sumitomo Mitsui Financial Group Inc., Japan’s second-largest bank by market value, plans to form an investment banking unit in the nation by hiring bankers, including Masuo Fukuda and Taro Hayashi from Citigroup Inc.
source: Bloomberg
