Sensex's `Road to 50K' May Only Take Nine Years, Morgan Stanley Predicts India’s benchmark Bombay Stock Exchange Sensitive Index may rise to 50,000 in nine years, faster than earlier predicted, Morgan Stanley said.
Benchmark Stock Index Advances; Commodities and Consumer Goods Makers Lead Indian stocks rose, led by commodities suppliers and consumer goods makers, after metals rose on speculation that an economic recovery will increase demand and a government agency said monsoon rainfall increased.
Buy Rupee, Real and Zloty on Rate Increase Speculation, Nordea Bank Says Investors should buy India’s rupee, the Brazilian real and the Polish zloty on speculation their central banks will be among the first to raise interest rates next year, Nordea Bank said.
Gold Trades Near $1,000 an Ounce, Heading for Best Weekly Gain in 5 Months Gold neared $1,000 an ounce in New York and London, missing the level by about 1 percent, as investors sought a haven on concern that a global recovery may be slower than expected. Silver fell from a 13-month high.
Rupee Declines a Fourth Week as Foreign Funds Sell, Importers Buy Dollars India’s rupee fell for a fourth week, its longest losing streak in more than two months, as a slide in the benchmark stock index prompted global funds to sell local assets.
Farmers Increase Soybean Planting in India Following Widespread Monsoons Farmers in India, Asia’s biggest exporter of soybean meal, increased the area planted with the oilseed this year after widespread monsoon showers in July aided sowing, a processors group said.
Nomura Aquires 1.5 Percent Stake in India's Radico Khaitan; Stock Surges Nomura Funds Ireland Public Ltd. bought a 1.5 percent stake in Radico Khaitan Ltd., India’s second-largest liquor maker, yesterday, exchange data showed.
Alok Industries Wins $150 Million Orders From Walmart, Gap After Expansion Alok Industries Ltd., an Indian supplier of textiles to Wal-Mart Stores Inc. and Gap Inc., said it won $150 million of orders from U.S. retailers after expanding into polyester and fabric businesses.
Oil India, Partners May Invest $5 Billion in Iran Farsi Natural Gas Block Oil India Ltd., the nation’s second- biggest state-run explorer, said it may invest $5 billion with its partners to develop a natural gas field in Iran.
Unemployment Rate in U.S. Climbs to 9.7% as Payroll Losses Slow to 216,000 The pace of U.S. job losses slowed in August as signs emerged that the recession is ending, while the unemployment rate reached a 26-year high, underscoring threats to consumer spending gains in the recovery.
Stocks in U.S. Fluctuate After Unemployment Rate Rises More Than Estimated U.S. stocks fluctuated after the government said the unemployment rate climbed to a higher-than- estimated 9.7 percent, adding to concern rising joblessness will stifle the economic recovery.
RBS Won't Call Four Subordinated Bonds After Objection From U.K. Regulator Royal Bank of Scotland Group Plc, the largest bank bailed out by the U.K., said it won’t redeem $1.6 billion of subordinated bonds early after regulators objected to using state aid to pay off lower-rated notes.
Peek's Contract as CIT Chief Executive Extended to September of Next Year CIT Group Inc., the 101-year-old commercial lender, extended the employment contract of Chief Executive Officer Jeffrey Peek for a year as the company struggles to avoid bankruptcy.
Emerging-Market Junk Bond Sales Crimp Rally Fueled by `Short-Term Memory' Developing-nation junk bonds are gaining at the slowest pace in six months after the lowest-rated companies sold more international debt in seven weeks than during the whole previous year.
Supertankers May Halt Oil Trading Amid Unprofitable Leases, Frontline Says Supertanker owners may start refusing cargoes within the next three months unless rates return to a profitable level, said Frontline Ltd., the biggest operator of the ships which carry almost half the world’s oil.
Stanford Investors, Unlike Madoff's, Won't Get Their Money Back From SIPC Peter Kaltman, a retired accountant, says he was reassured by the Securities Investor Protection Corp. logo on the stationery of the brokerage that sold him $550,000 in Stanford International Bank certificates of deposit.
source: Bloomberg
