Bank stocks plunge as key rates left unchanged
(thehindubusinessline.com
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28/07/2009)
Ahead of the quarterly monetary policy review of RBI, banking stocks on Tuesday tanked on the BSE led by ICICI Bank which fell 3 per cent, as the key policy rates remained unchanged. Shares of the largest private sector lender ICICI Bank dropped 2.76
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Gold hovers around $950 in Asian trade
(commodityonline.com
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28/07/2009)
Bullion prices hovered near $950 an ounce in Asian trade Tuesday as technical resistance continued towards $960 level. Gold was seen trading at $952.40 an ounce at 11.30 a.m Singapore time, down about 0.03 percent from the notional close in New York of
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Deutsche Bank says Q2 net profit up 68% to 1.1 bn euros
(The Economic Times
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28/07/2009)
Deutsche Bank, Germanys largest, reported on Tuesday a better than expected 68 percent increase in second quarter net profit to 1.1 bn euros.
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China's debt may rise to 60% of GDP; finances to see sharp fall
(The Economic Times
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28/07/2009)
On the surface, China presents a fiscal study in contrast with the United States, keeping a remarkably low ceiling on debt even as it spends its way out of the financial crisis. But when Chinese leaders meet their US counterparts this week, they should
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Oil Major BP ups cost cut target as profits dive
(Reuters
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28/07/2009)
Oil giant BP Plc said it had increased its cost reduction targets for 2009 by 50 percent to $3 billion, as it reported a halving in second quarter profits due to lower oil prices and weaker refining margins. Europes second largest oil company by market
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India central bank holds rates, targets growth
(guardian.co.uk
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28/07/2009)
Indias central bank left its short-term rates and banks cash reserve requirement unchanged as expected on Tuesday and stressed that its priority is to nurture growth, which has been hurt by the global downturn. Early market reaction was muted, with the
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New financial district for Beijing
(Bloomberg
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28/07/2009)
Bank of China (3988) and China Development Bank are among mainland lenders that will provide 60 billion yuan (HK$68 billion) to fund the construction of a new financial district in Beijing. Lize Holdings Co is to develop a 5.25 square kilometer area
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Shanghai, Hong Kong retreat after recent gains
(Market Watch
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28/07/2009)
Chinese shares in Shanghai declined Tuesday after rising in the previous four sessions, while Hong Kong stocks lost ground after rising in the last three sessions as investors locked in profits. The Shanghai Composite was down 0.6% at 3,414.79 in early
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Crude Oil Falls as Traders Sell Contracts to Profit From Gains
(Bloomberg
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28/07/2009)
Crude oil fell in New York for the first time in four days as investors sold futures to lock in gains on concern prices have climbed too far amid expectations of a drop in demand. Prices rallied yesterday to a 3-week high, as equity markets climbed in
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BSE Sensex to start cautiously before RBI meet
(Reuters
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28/07/2009)
The BSE Sensex is expected to make a cautious start on Tuesday on mixed signals from other Asian markets and as investors await the outcome of the central banks quarterly review of monetary policy. The Reserve Bank of India is expected to hold key rates
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BSE Sensex rises 0.3 pct in early deals
(Reuters
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28/07/2009)
The BSE Sensex rose in early trade on Tuesday, with steady Asian peers lending support and as investors await the outcome of the central banks quarterly review of monetary policy. At 9:57 a.m. (0427 GMT), the 30-share BSE index was up 0.3 percent at
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China’s Stocks Rise for Fifth Day; Baoshan, Steelmakers Climb
(Bloomberg
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28/07/2009)
China’s stocks rose for a fifth day as steelmakers and renewable energy companies gained on signs government spending will drive up demand for their products, overshadowing a decline by Sichuan Expressway Co. Baoshan Iron & Steel Co. and Angang Steel
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Regional markets mixed at midday
(thestar.com
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28/07/2009)
Regional markets were mixed at midday Tuesday with the local bourse’s benchmark FBM KLCI among markets that gained. The FBM KLCI was 0.97% higher at 1,167.70 while Singapore’s Straits Times Index rose 1.17% to 2,606.73. Tokyo’s Nikkei 225 was down 0.21%
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BSE Sensex falls 0.7 pct; ICICI, Infosys drop
(Reuters
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28/07/2009)
The BSE Sensex fell 0.7 percent on Tuesday morning, with mixed signals from other Asian markets keeping investors cautious ahead of the outcome of the central banks quarterly review of monetary policy. Private-sector lender ICICI Bank and outsourcer
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Markets largely steady post RBI policy decision
(Reuters
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28/07/2009)
The BSE Sensex flip-flopped while bonds and rupee were largely unchanged after the Reserve Bank’s decision to hold key rates steady at its first-quarter policy review. At 11:20 a.m. (0550 GMT), the benchmark 10-year benchmark 6.90 percent bond maturing
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China stocks up 0.1 pct, fresh 14-mth closing high
(Reuters
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28/07/2009)
Chinese stocks edged up 0.09 percent to a fresh 14-month closing high on Tuesday, reversing early losses as a liquidity-driven climb continued into a fifth session. The Shanghai Composite Index .SSEC ended at 3,438.371 points. Chinese toll road operator
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Asian Stocks Rise on Brokerage Upgrades; Sumitomo Mitsui Gains
(Bloomberg
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28/07/2009)
Asian stocks climbed, lifting the MSCI Asia Pacific Index for an 11th day, as brokerages upgraded banks and steelmakers ahead of earnings announcements. Sumitomo Mitsui Financial Group Inc., Japan’s third-largest lender, rose 3.9 percent as Nomura
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China Inflation May Rebound in Second Half, PBOC Says (Update1)
(Bloomberg
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28/07/2009)
China’s rate of inflation may rebound in the second half of this year, the People’s Bank of China said today, adding that it plans to keep policies stable to ensure an economic recovery. China’s economy is at a “critical” stage, the central bank said in
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Sensex trades flat; Realty leads
(myiris.com
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28/07/2009)
The Sensex is trading on a flat note amid volatility. Buying and selling activity is being seen in heavyweights. Realty surged the most followed by auto and power stocks, while IT and banking declined. BSE Midcap and Smallcap index rose 0.93% and 1.66%
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Cott shares drop 25% despite $33.7M US profit in Q2
(CBCnews.ca
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28/07/2009)
Investors hammered shares of Cott Corp. down more than 25 per cent Monday, despite the Canadian beverage maker reporting a second-quarter profit of $33.7 million US, a sharp turnaround from a loss of $1.8 million for the same period a year ago. The share
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Update: S'pore shares close 1.84% up
(AFP
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28/07/2009)
Singapore shares closed 1.84 per cent firmer on Tuesday on hopes of a strong earnings season for local firms, dealers said. The blue-chip Straits Times Index (STI) was 47.38 points higher at 2,624.04. Volume was 3.26 billion shares worth $2.48 billion
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Japan: Nikkei dips 1 point after 9 days of gains
(The Business Times
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28/07/2009)
Japans Nikkei share average edged lower to break a nine-day rising streak, as stocks that had led the strong run-up such as Advantest Corp fell amid concern about the rapid pace of the rally. The benchmark Nikkei edged down 1.40 points to 10,087.26. It
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HK shares close up 1.84%
(AFP
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28/07/2009)
Hong Kong share prices closed 1.84 per cent higher on Tuesday, supported by strong liquidity, dealers said. The benchmark Hang Seng Index ended up 372.92 points at 20,624.54. Turnover was HK$84.85 billion (US$10.88 billion).
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TSX ends week on high note
(kelowna.com
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28/07/2009)
Losers slightly outpaced gainers on Friday, but the Toronto Stock Exchange still ended the week on a high note, closing in positive territory for the second straight day. The S&P/TSX composite index added 12.22 points, or 0.11 per cent, to hit 10,687.90,
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Update: Malaysian shares up 1.38%
(AFP
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28/07/2009)
Malaysian shares closed up 1.38 per cent on Tuesday in line with regional gains, dealers said. The Kuala Lumpur Composite Index (KLCI) gained 15.95 points to 1,172.38. Gainers outpaced losers 491 to 194. The KLCI has underperformed most of the other
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