Sensex Index Declines for First Day in Three; Sterlite Drops with Copper Indian stocks fell, with the
benchmark index declining for the first day in three, as
commodity producers dropped on lower metal prices and as most
Asian markets including Japan retreated.
India Must Withdraw Monetary Stimulus `Strategically', Central Bank Says India’s withdrawal of monetary
stimulus must be done “carefully and strategically” to ensure
the nation’s economic recovery isn’t derailed in an attempt to
contain inflation, the central bank said.
Hindalco Said to Have Raised $600 Million Selling Stock to Large Investors Hindalco Industries Ltd., India’s
biggest aluminum producer, raised $600 million selling shares to
institutional investors, two people involved in the sale said.
Mills in India's Biggest Cane Grower Start Crushing, Bajaj Hindusthan Says Sugar producers in India’s biggest
cane-growing state have started crushing after a price dispute
with farmers caused a delay of as much as four weeks to the
start of the season, easing a shortage in the largest consumer.
Swaraj Mazda Gains in Mumbai After Report Tata Motors May Purchase Stake Swaraj Mazda Ltd. gained in Mumbai
trading after the Economic Times reported that Tata Motors Ltd.
may consider buying a stake in the company.
India's Rupee Retreats on Dollar Demand From Oil Importers, Risk Aversion India’s rupee fell for the first
time in three days on speculation the nation’s refiners stepped
up purchases of dollars to guard against rising oil costs.
India Plans to Sell 5% Stake in NTPC, Calls Bids From Banks to Manage Sale India’s government plans to sell a 5
percent stake in NTPC Ltd. in a local public offering, and is
seeking bids from banks to manage the sale, according to an
advertisement published in the Economic Times newspaper today.
China's Five Biggest Banks Said to Hand Capital-Raising Plans to Regulator China’s five largest banks submitted
plans to regulators for raising money after unprecedented
lending eroded their capital, according to four people with
knowledge of the matter.
U.S. Index Futures Advance, European Stocks Pare Drop on Economic Outlook U.S. stock-index futures rose and
European shares pared declines as German business confidence
climbed to a 15-month high and economists said the U.S. housing
slump is leveling out. Banks fell worldwide on speculation they
need more capital, while the dollar and the yen gained.
German Business Confidence Increases to 15-Month High, Exceeding Forecasts German business confidence increased
more than economists forecast to a 15-month high in November,
suggesting the economic recovery may gather pace next year.
Fed Said to Ask Stress-Tested Banks to Submit Plans for Repaying U.S. Aid The Federal Reserve asked nine of
the U.S. banks that were part of this year’s stress tests to
submit plans for repaying the government’s capital injections, a
person familiar with the situation said.
Gross Increases Total Return Fund Holdings of U.S. Debt to Five-Year High Bill Gross, who runs the world’s
biggest bond fund at Pacific Investment Management Co.,
increased his holdings of government-related debt to 63 percent,
the highest proportion since July 2004.
Lloyds Banking Prices Shares to Raise $22 Billion in Record Rights Offer Lloyds Banking Group Plc, the U.K.’s
biggest mortgage lender, plans to raise a record 13.5 billion
pounds ($22.3 billion) in the country’s biggest rights offering,
selling shares at a 59.5 percent discount. The bank gained in
London trading.
Russia Cuts Benchmark Interest Rate to Record Low 9% to Stimulate Lending Russia’s central bank cut its key
interest rates to a record low in the ninth reduction since
April as it seeks to deter speculative bets on the ruble and
ease credit flows to households and businesses.
source: Bloomberg
