Italy - Factors to watch on May 25
The following factors could affect Italian markets on Thursday.
To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 11:00 am: Budget session of Parliament continues in New Delhi. 6:00 pm: Federal cabinet meets in New Delhi. GMF: LIVECHAT - EURO ZONE OUTLOOK We take a look at the economic outlook for the euro zone at 2:30 pm with Ben May, senior euro zone economist at Oxford Economics. To join the conversation, click on the link: here INDIA TOP NEWS • India central bank seen holding rates, not pulling another surprise The Reserve Bank of India has pulled surprises at its last three policy meetings, so another can't be ruled out at Thursday's review, but analysts uniformly expect no change in interest rates. • India, Britain talk up post-Brexit trade prospects India and Britain on Tuesday talked up their prospects of developing a new trading relationship, as their finance ministers met to prepare for the United Kingdom's exit from the European Union. • Infosys founder criticises pay hike for operations chief A dispute between the founders and the board of software services company Infosys Ltd over governance spilled into public again on Monday, as founder N.R. Narayana Murthy criticised a pay hike for Chief Operating Officer Pravin Rao. • Indian fertiliser companies to raise potash prices after subsidy cut Indian fertiliser companies will soon raise potash prices after the government last week cut subsidies by 20 percent for the current financial year, officials said. • India's SBI sees cost savings, no bad loans surprise after merger with units State Bank of India, the nation's top lender by assets, expects no nasty surprises on bad loans after merging five subsidiary banks with itself at the weekend in a deal that will help it save costs and gain scale, senior executives said. • Snapdeal looking to raise $100 mln from SoftBank, other investors Indian online retailer Snapdeal is looking to raise just over $100 million from existing shareholders including Japan's SoftBank and new investors, its chief financial officer said. • India's Dr Reddy's says U.S. FDA raises fresh concerns at Srikakulam drug plant India's Dr Reddy's Laboratories Ltd said on Tuesday that the U.S. Food and Drug Administration has outlined two more concerns with the company's Srikakulam drug-making plant after an inspection of the facility. • WhatsApp mulls foray into digital payments with India launch Instant messaging app WhatsApp, owned by Facebook Inc, is mulling a foray into digital payment services in India, its first such offering globally, and has advertised to hire a digital transactions lead in the country. GLOBAL TOP NEWS • Scores reported killed in gas attack on Syrian rebel area A suspected Syrian government chemical attack killed scores of people, including children, in the northwestern province of Idlib on Tuesday, a monitoring group, medics and rescue workers in the rebel-held area said. • N.Korea test-fires missile into sea ahead of Trump-Xi summit North Korea test-fired a ballistic missile into the sea off its east coast, South Korea's military said, ahead of a summit between U.S. and Chinese leaders who are set to discuss Pyongyang's arms programme. • Fed's Lacker leaves U.S. central bank over leak of market-sensitive news Richmond Federal Reserve President Jeffrey Lacker abruptly left the U.S. central bank on Tuesday after admitting that a conversation he had with a Wall Street analyst in 2012 may have disclosed confidential information about Fed policy options. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,294.50, trading up 0.16 pct from its previous close. • The Indian rupee will likely open lower against the dollar, weighed down by caution ahead of the central bank’s policy review at home and weak risk appetite before U.S. President Donald Trump meets his Chinese counterpart Xi Jinping. • Indian government bonds are likely to trade largely unchanged, as investors may slow activity ahead of the outcome of a two-day Monetary Policy Committee meeting that starts today. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.62 pct-6.68 pct band today. The bond had closed at 102.22 rupees, yielding 6.65 pct, on Apr. 3. GLOBAL MARKETS • U.S. stocks were little changed on Tuesday, as investors stayed on the sidelines ahead of the first-quarter earnings season and fretted about President Donald Trump's ability to deliver on tax reform and other promises. • Asian stocks are set for a cautious start as investors move to the sidelines before a potentially tense meeting between Donald Trump and Chinese President Xi Jinping later this week. • The dollar regained some traction against the yen in Asian trade, but remained under pressure after North Korea fired a ballistic missile into the sea. • Benchmark U.S. Treasury yields touched their lowest in more than five weeks on Tuesday before reversing course to trade little changed on doubts about the ability of U.S. President Donald Trump to enact fiscal stimulus. • Oil prices climbed on signs of gradual tightening in a market bloated by years of overproduction that has left storage tanks around the world brimming with unsold fuel. • Gold prices held firm near one-month highs hit the day before, with appetite for risk easing ahead of a meeting this week between the leaders of the United States and China. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.93/64.96 April 3 -- $717.93 mln 10-yr bond yield 7.05 Month-to-date $5.23 bln -- Year-to-date $6.78 bln $6.19 bln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 65.0700 Indian rupees) (Reporting by Nayyar Rasheed in Bengaluru)
The following factors could affect Italian markets on Thursday.
* Yuan at 2-month high * S.Korean cen bank holds rates * Singapore Q1 GDP -1.3 pct q/q annualised; +2.7 pct y/y (Adds detail, updates prices) By Rushil Dutta May 25 Asian currencies were firm on Thursday after the minutes of the U.S. Federal Reserve's last meeting showed policymakers favouring a gradual approach to interest rate hikes, with the yuan hitting two-month highs on state-driven dollar selling after Moody's downgraded China's debt ratings. The yuan
TOKYO, May 25 Japanese stocks rose on Thursday as the strong-yen trend paused, while a surge in index-heavyweights such as SoftBank supported sentiment.