LONDON SPOT MARKET
Hyundai India IPO banks set for country's 2nd biggest payday with $40 million fee: Report
The evolving financial landscape in India, characterized by the Hyundai India IPO and the rise in private company IPOs, presents significant opportunities for financial institutions like Nomura and Jefferies Financial Group to capitalize on the flourishing market and drive investment banking fees to new heights.
Currency traders readying for a ‘Vol Killer’ summer after Fed
Investors may be disappointed as currency volatility is expected to remain low despite initial signs of turbulence. The market reacted to weak inflation data and Powell's rate cut projection, causing the FX Volatility Index to fall. Traders now anticipate narrow currency ranges over the summer.
Gold rush grips Asia despite near-record prices
Gold demand in Asia is increasing despite near-record high prices, driven by geopolitical and economic uncertainty. Spot gold trades over $2,300 per ounce, up 12% year-to-date, and 6% below the record high. Lower confidence in real estate and equities also fuels the demand.
Spring Bank Holiday in the UK: When and how to celebrate, how did it begin and more
Spring Bank Holiday in the UK is observed on the last Monday of May. Generally, it is a holiday for many establishments.
Gold prices back in limelight after mild correction
Gold prices have surged both globally and domestically, nearing the significant psychological level of $2,500 per ounce on the London spot market, representing a year-to-date increase of almost 17%. This momentum is reflected in the Indian market as well, with MCX futures prices exceeding ₹74,000 per ten grams.
Dollar up as traders await Fed clues; sterling rises
Fed Governor Christopher Waller on Tuesday said he would need to see several more months of good inflation data before he would be comfortable supporting rate cuts.
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Gold heads for second weekly gain, silver hits 11-year high
Gold prices were on track for a second consecutive weekly gain on Friday due to improved interest rate cut expectations, providing support to silver which broke through the $30 milestone and hit an 11-year high.
Mumbai and Delhi feature among the World's Top 50 Wealthiest cities, surpassing Washington DC
Mumbai and Delhi have secured positions among the world's top 50 wealthiest cities, surpassing Washington DC in wealth concentration. This ranking, released by Henley and Partners, highlights the economic prowess of these Indian cities and their growing appeal to high-net-worth individuals (HNWIs).
Yen’s wild swings are just a taste of what’s to come
The plunge to 160 per dollar immediately filled news reports and social media across Japan. “We can’t let our guard down,” Iguchi called repeatedly as trading ensued. Other so-called red-line levels — 155 and 158 — had fallen with no pushback. Some were starting to ask if the authorities would ever act.
Bitcoin bulls pause leveraged bets as demand cools post-halving
The metric underscores a moderation in demand for Bitcoin after a period in which a batch of US spot-Bitcoin ETFs drove the token to record highs.
Family trips over solo trips, holiday coupons as wedding shagun: MakeMyTrip survey reveals Indians' travel habits
Indian travelers are redefining domestic tourism and asserting a significant presence in international travel markets, according to MakeMyTrip's "India Travel Trends Report". The number of Indians embarking on more than three trips per year surged by 25% in 2023 compared to 2019, with a notable increase of 46% in spontaneous bookings. Domestic travel is increasingly embracing spiritual journeys, with searches for destinations featuring or around religious spots growing by 97% in the last two years.
Pullback rally soon? Sanjiv Bhasin on 4 stocks to bet on in this uncertain market conditions
Sanjiv Bhasin recommends strategic investments in HUL, LTI, and Indiabulls Real Estate. He advises reallocation from heavyweight stocks to capitalize on growth prospects. Opportunities also lie in ICICI Bank, Bharti Hexacom, Voda-Idea, and IDFC Bank. Bhasin further says: "We are looking at one pullback rally because all negatives are slowly getting priced in. "
Metal traders see price rising after LME Russia ban
But there are disagreements about the broader impact of the move: Some argue that removing one of the largest producers from the market will drive prices higher, while others are focusing on the prospect of a flood of old Russian metal getting dumped onto the LME.
The gold market hunts for answers behind bullion’s sudden surge
After trading in a fairly steady range for months, bullion started spiking in early March. It’s risen 14% since then and left a string of daily records in its wake.
Ether fettered by fate of spot ETF proposals
The no. 2 cryptocurrency, which commands less than a fifth of the $2.7 trillion crypto market, has not done poorly. But ether is up just around 53% in the first three months of this year, compared with bitcoin's 65%.
Cryptoverse: Ether fettered by fate of spot ETF proposals
The no. 2 cryptocurrency, which commands less than a fifth of the $2.7 trillion crypto market, has not done poorly. But ether is up just around 53% in the first three months of this year, compared with bitcoin's 65%
Japanese stocks down, yen steady as markets brace for landmark BOJ shift
In a week filled with central bank meetings across the globe, the BOJ takes the spotlight on the day with all signs pointing to the central bank shifting away from its ultra easy monetary policy.
Help! My London rental apartment vanished and I’m out $3,100: What to do if you fall for a 'suspicious listing'
Booking.com, as does Airbnb and Vrbo, restricts hosts and guests from exchanging contact information before a reservation is made, but does generally allow hosts and guests to exchange contact information afterward, even as they encourage users to keep communication on the platform.
Spot the meta city lights
Resurrected residentials During Covid, many predicted the death of global cities because many residents retreated to suburbs and small towns to work remotely. But far from being eclipsed, global cities reinvented themselves with the rise of meta cities - a web of cities that operate as a distinct unit, but are attached to a significant, often global, economic hub.
ITC is world's 3rd most valuable tobacco company after London-based BAT sinks
London-based BAT has seen a sell-off in its shares in the past week, rendering its market cap below ITC to $64 billion. The stock fell sharply after the company said it would take a hit of around $31.5 billion as it wrote down the value of some US cigarette brands, acknowledging that its traditional combustible market has no long-term future.
How Winston Churchill's office became the ballast for the Hinduja empire’s first foray into luxury hospitality
The Hindujas’ first foray in the rarefied world of super-luxe hospitality is the newly-opened Old War Office (OWO) as a Raffles hotel in London’s Whitehall. A one-night stay at the Churchill Suite here comes for an eye-watering 25,000 pounds, which is about Rs 25.8 lakh.
The crypto market still bears the scars of FTX's collapse
Sam Bankman-Fried, the former CEO of FTX, stands trial in New York on Tuesday, charged with seven counts of fraud and conspiracy stemming from the exchange's abrupt collapse in November 2022. He has pleaded not guilty.
New York stays top financial centre, London clings to second place: Global Financial Centres index
New York, in the top spot since deposing London in September 2018, remains well in the lead with 763 points based on surveys of 147 factors covering 121 centres provided by third parties, including the World Bank, OECD, and the United Nations.
Boon or blight? E-scooters around the world
The for-hire electric scooters that have become ubiquitous in Paris and other cities worldwide will be banned in the French capital on September 1. - Paris: the pioneer - The French capital was an early adopter of e-scooters in 2018, when the pavements were soon strewn with discarded rental devices from the first operator, Lime.
China's state banks seen selling dollars for yuan in London and New York hours
China's major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan's depreciation.
Mirae Asset Mutual Fund launches Mirae Asset Silver ETF
Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund said, “Silver is widely considered to be a relatively in times of economy turmoil and a good hedge against dollar, just like gold. In addition to these factors, silver price has found support from its growing use in industrial settings, which now accounts for roughly half of the silver annual demand. These factors make silver a very compelling asset to be included in an investor’s portfolio either from a long-term point of view or for tactical allocation based on various technical indicators.”
Gail initiates legal proceedings against Gazprom for non-supply of LNG; files for arbitration in London
GAIL had in 2012 signed a 20-year deal with Gazprom Marketing and Singapore (GMTS) to buy 2.85 million tonnes per annum of LNG. Supplies started in 2018 and the full volume was to reach in 2023.
Gail to borrow up to Rs 7,000 crore domestically to fund Rs 10,000 crore capex plan in FY24
Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal. The state-owned company's chairman and managing director SK Gupta said that even though FY23 was not good for internal resource generation, it invested Rs 9,100 crore, which was 15 per cent higher than the budgeted levels. He exuded confidence that FY24 will be robust on the internal resource generation front, and there will not be
Immediate profit booking likely in silver, but may edge higher later
There are worries that the global silver market would post deficits of more than 100 million ounces over the next few years. As per the Silver Institute data, silver supplies from mine production in 2022 were 843.2 million ounces.
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