InterGlobe Aviation shares shed 11% to hit one-month low post June quarter earnings

Shares of InterGlobe Aviation tanked over 11 per cent to hit their one-month low after the company, which owns budget carrier IndiGo, reported around 7.4 per cent decline in net profit at Rs 591.77 crore in the June quarter. The company had posted a net profit of Rs 638.89 crore in the same period last fiscal year. Reacting to the ... Read More »

Oil takes breather from losses but oversupply concerns remain

Oil edged higher on Tuesday after falling by up to 10 percent in just one week, but investors remained concerned about oversupply weighing on prices. Global benchmark Brent crude LCOc1 was trading up 49 cents at $42.63 a barrel at 1031 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 was up 38 cents at $40.44 a barrel, after briefly dipping ... Read More »

Fed’s Kaplan urges patience in raising rates, points to global risks

A raft of global risks that could adversely affect the United States remain on the horizon and require close monitoring, Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday. “I am closely monitoring how slowing growth, high levels of overcapacity and high levels of debt to GDP in major economies outside the U.S. might be impacting economic conditions in ... Read More »

European shares hit two-week lows, yen rises as Japan backs stimulus

European stocks fell to two-week lows on Tuesday, dragged down by banks, while the yen rose against the dollar and government bonds sold off after Japan’s cabinet approved a fiscal stimulus package to revive the flagging economy. Oil fell again, with U.S. crude dipping below $40 a barrel as a supply glut weighed on prices. The pan-European STOXX 600 index ... Read More »

Inventory reduction curbs U.S. economic growth; rebound expected

U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment weakened further, offsetting robust consumer spending.     Gross domestic product increased at a 1.2 percent annual rate after rising by a downwardly revised 0.8 percent pace in the first quarter, the Commerce Department said on Friday. ... Read More »

Financials lead gains on European shares

European shares edged higher in early trading on Friday, with EDF surging after its board approved Hinkley Point nuclear project, while Kering gained after positive update from its flagship fashion brand Gucci. Financials were in demand, with the STOXX Europe 600 Banks index gaining 1.8 percent. Barclays rose 3.8 percent after results, while UBS gained 2.8 percent after beating second ... Read More »

Fed’s Williams downplays GDP weakness, sees rate hikes

The Federal Reserve could raise interest rates up to two times before year end, a top Fed official said on Friday as he downplayed data that showed the U.S. economy grew far less than expected in the last quarter. San Francisco Fed President John Williams said the second-quarter gross domestic product reading was weak because of swings in inventories and ... Read More »

Euro zone bank sector better equipped to handle stress: ECB

The euro zone’s biggest banks would fare better in case of stress than two years ago as they have amassed capital and made headway in fixing their balance sheets, the European Central Bank said on Friday after a stress test of the bloc’s 37 biggest banks. The banks entered the test with an average Common Equity Tier 1 capital ratio ... Read More »

Dollar slides on U.S. GDP, Japan bonds fall on BOJ move

Weak U.S. economic growth data knocked down the dollar and yields on U.S. government debt Friday, while Japanese government bond yields rose the most in eight years after investors reacted coolly to the Bank of Japan’s latest effort to boost the economy. The U.S. economy grew far less than expected in the second quarter as inventory investment fell for the ... Read More »

Steinhoff considers bid for Poundland

Poundland has been targeted for a takeover by Steinhoff, a South African retail conglomerate. Shares in the British discount retail chain rose 6% to 208p on Wednesday morning, valuing the company at more than £530m, after Steinhoff said that it was considering making an offer. The rise followed a 27% rise in Poundlandshares on Tuesday, driven by bid speculation among ... Read More »