News stories for Reuters - Business Recorder

Reuters

Business & Finance

Spain's BBVA and Sabadell end tie-up talks, TSB up for sale

Banks disagreed on financial terms.
Puts brake on banking mergers in Spain.
Sabadell to focus on domestic market.
Says considers options for British bank TSB.

Published 28 Nov, 2020 01:08am

Business & Finance

Russia's Sberbank targets half of revenue from non-banking by 2030

Targets nearly half revenue from non-banking business.
Non-banking currently brings around 1% of revenue.
RoE seen at 17% in 2023, below Q3's 22.8% -sources.

Published 28 Nov, 2020 12:52am

Markets

Oil prices set for weekly gain ahead of OPEC+ meeting

Benchmarks set to gain 7% in week.
OPEC+ leaning towards oil cut extension, despite rally –sources.
Questions over AstraZeneca vaccine, scientists sound caution .

Published 28 Nov, 2020 12:50am

Markets

Cotton gains on firm export sales data, weaker dollar

The cotton contract for March was up 0.46 cent, or 0.6%, at 72.82 cents per lb.
The export sales were real good and the dollar is threatening to take out a 2-1/2 year low.

Published 28 Nov, 2020 12:48am

Business & Finance

UniCredit working with GS, JPM as strategic advisers

Unicredit to update business plan in Q2 2021.
GS-JPM would also advice on Monte Paschi in case of a deal.
Treasury is preparing incentives to lure a buyer.

Published 28 Nov, 2020 12:47am

Markets

European shares rise for fourth straight week; Spain's BBVA jumps

COVID-19 cases in Germany surpass one million.
Spain's BBVA and Sabadell end merger talks.
EU & UK say "substantial differences" over Brexit.
Euro zone economic sentiment drops first time in 7 months.

Published 28 Nov, 2020 12:45am

Business & Finance

Airbus re-sells 6 jets built for AirAsia, denting surplus

Jets are part of surplus left idle due to pandemic.
A321neo jets are maintaining value - European source.

Published 28 Nov, 2020 12:44am

Markets

Latam FX trickles lower, but set for mild weekly gains

Regional stocks set for weekly gains.
Mexican c.bank split over further rate cuts.
Argentine stocks outperform for the week on debt restructuring.

Published 28 Nov, 2020 12:43am

World

US hospitalized COVID-19 patient number hits record 90,000 ahead of expected case surge

The rate of hospitalizations - now at the highest level since the pandemic began - has pushed some hospitals beyond capacity.
Many health experts and politicians pleaded with Americans to refrain from gathering for their traditional communal Thanksgiving feasts this year.

Published 28 Nov, 2020 12:41am

Markets

Copper hits 7-1/2-year peak as companies and speculators buy

LME nickel and lead touch one-year highs.
Zinc hits highest since May 2019.
Copper on track to hit $8,000 on technicals –analyst.

Published 28 Nov, 2020 12:39am

Markets

Nigeria naira hits record low on futures market for five-year settlement

The central bank weakened the currency on the derivatives market, traders said.
We have been trying to take measures to close the gap and the progress is not as much as we hope.

Published 28 Nov, 2020 12:37am

World

Most Canadians could get COVID-19 vaccine by Sept if all goes well: PM Trudeau

Canada is in the middle of a second wave of the virus and daily cases regularly hit record highs despite increasing efforts by the 10 provinces to clamp down on businesses and curb gatherings.
"We're in some of the toughest days of this pandemic," said Trudeau, describing the expected arrival of the vaccines as a light at the end of the tunnel.

Published 28 Nov, 2020 12:26am

World

Fitch downgrades Sri Lanka on rising default risk

Sri Lanka relies on tourism and garment exports for foreign exchange reserves. It's been hit hard by the pandemic.
We think there are now increasing risks to Sri Lanka's ability to meet its external debt repayments.

Published 28 Nov, 2020 12:25am

World

WHO says would be ‘highly speculative’ to say COVID did not emerge in China

China is pushing a narrative via state media that the virus existed abroad before it was discovered in the central city of Wuhan.
"I think it's highly speculative for us to say that the disease did not emerge in China," Mike Ryan said.

Published 28 Nov, 2020 12:21am

Markets

Paris wheat consolidates, cash prices stay firm on export run

March milling wheat, the most active contract on the Paris-based Euronext exchange, settled 0.25 euros, or 0.1%, lower at 210.00 euros ($250.99) a tonne.

Published 28 Nov, 2020 12:19am

World

US appeals court rejects Trump campaign's Pennsylvania election case

Free, fair elections are the lifeblood of our democracy. Charges of unfairness are serious.
Charges require specific allegations and then proof. We have neither here.

Published 28 Nov, 2020 12:18am

Business & Finance

French tycoon Xavier Niel could launch SPAC company next week

The plan is expected to be announced as soon as Monday.
Deutsche Bank and Societe Generale are advising Niel on the deal.

Published 28 Nov, 2020 12:15am

Markets

CBOT corn gains on firm export demand

CBOT most-active March corn settled 6-1/4 cents higher at $4.33-3/4 per bushel.
Corn was 5-3/4 cents higher, for a second consecutive week of gains.

Published 28 Nov, 2020 12:13am

Markets

Wall St gains, Nasdaq hits record high as holiday shopping begins

Black Friday kicks off in abbreviated session.
Disney drops after layoffs announcement.
S&P, Dow, Nasdaq up for the week.
Indexes up: Dow 0.13%, S&P 0.24%, Nasdaq 0.92%.

Published 28 Nov, 2020 12:09am

Business & Finance

Hyundai, Kia agree to $210mn US auto safety civil penalty

The US National Highway Traffic Safety Administration (NHTSA) said the two affiliated Korean automakers agreed to consent orders.
Hyundai agreed to a total civil penalty of $140 million, including an upfront payment of $54 million

Published 28 Nov, 2020 12:08am

Gainers
Losers
Leaders

Stock	Price
Saudi Pak Leas. / Nov 30 Saudi Pak Leasing Company Limited(SPLC)	1.4000 ▲ 0.20 (16.67%)
Chakwal Spinng / Nov 30 Chakwal Spinning Mills Limited(CWSM)	2.2700 ▲ 0.32 (12.31%)
Media Times / Nov 30 Media Times Limited(MDTL)	1.4200 ▲ 0.17 (12.00%)
Ravi Textile / Nov 30 Ravi Textile Mills Limited(RAVT)	6.4900 ▲ 0.59 (10.00%)
First Pak Modaraba / Nov 30 First Pak Modaraba(PAKMI)	1.7500 ▲ 0.15 (9.37%)
Hum Network / Nov 30 Hum Network Limited(HUMNL)	7.0367 ▲ 0.54 (7.69%)
General Tyre / Nov 30 The General Tyre & Rubber(GTYR)	68.5900 ▲ 5.09 (6.85%)
Artistic Den. / Nov 30 Artistic Denim Mills Limited(ADMM)	83.5800 ▲ 5.08 (6.47%)
Buxly / Nov 30 Buxly Paints Limited(BUXL)	64.4100 ▲ 3.90 (6.45%)
Zephyr Tex / Nov 30 Zephyr Textiles Limited(ZTL)	11.0000 ▲ 0.65 (6.28%)

Stock	Price
EFU Life Assur. / Nov 30 EFU Life Assurance Limited(EFUL)	200.0000 ▼ 0.00 (-9.25%)
ZIL Ltd. / Nov 30 ZIL Limited(ZIL)	108.0000 ▼ 2.00 (-1.85%)
Descon Oxy. / Nov 30 Descon Oxychem Limited(DOL)	32.2300 ▼ 0.32 (-0.56%)
Honda Atlas Car / Nov 30 Honda Atlas Cars (Pakistan) Limited(HCAR)	289.9000 ▼ 2.40 (-0.17%)
Sitara Peroxide / Nov 30 Sitara Peroxide Limited(SPL)	22.0000 ▼ 0.00 (0.00%)
Pak Rein. / Nov 30 Pakistan Reinsurance Company Limited(PAKRI)	25.0000 ▼ 0.00 (0.00%)
Punjab Oil / Nov 30 Punjab Oil Mills Limited(POML)	139.9900 ▼ 0.00 (0.00%)
Fazal Cloth / Nov 30 Fazal Cloth Mills Limited(FZCM)	137.3600 ▼ 0.00 (0.00%)
Murree Brewery / Nov 30 Murree Brewery Company Limited(MUREB)	555.0000 ▼ 5.00 (0.00%)
Landmark Sp. / Nov 30 Landmark Spinning Industries Limited(LMSM)	14.4500 ▼ 0.00 (0.00%)

Stock	Volume
Unity Foods / Nov 30 Unity Foods Limited(UNITY)	24,898,500 ▼ 0.76
TRG Pak. / Nov 30 TRG Pakistan Limited(TRG)	24,034,500 ▼ 4.38
Hum Network / Nov 30 Hum Network Limited(HUMNL)	16,218,500 ▼ 0.54
TPL Corp / Nov 30 TPL Corp Limited(TPL)	12,651,500 ▼ 0.44
K-Electric Ltd / Nov 30 K-Electric Limited(KEL)	11,975,000 ▼ 0.14
Pakistan Refinery / Nov 30 Pakistan Refinery Limited(PRL)	9,053,500 ▼ 0.75
Maple Leaf / Nov 30 Maple Leaf Cement Factory Limited(MLCF)	8,575,447 ▼ 0.65
Hascol Petroleum / Nov 30 Hascol Petroleum Limited(HASCOL)	8,449,878 ▼ 0.55
Worldcall / Nov 30 Worldcall Telecom Limited(WTL)	8,126,500 ▼ 0.07
Fauji Foods / Nov 30 Fauji Foods Limited(FFL)	5,025,500 ▼ 0.65

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Nov 28	159.50
USD PKR Interbank Buying / Nov 28	159.35
USD to Japanese Yen / Nov 28	104.09
USD to Swiss Franc / Nov 28	0.91
Pound Sterling to USD / Nov 28	1.33
Euro to USD / Nov 28	1.20

Stock	Volume
S&P 500 / Nov 28	3638.35
India Sensex / Nov 28	44149.72
Tokyo Nikkei / Nov 28	26644.71
Nasdaq / Nov 28	12205.85
Hang Seng / Nov 28	26894.68
FTSE 100 / Nov 28	6367.58
Dow Jones / Nov 28	29910.37
Germany DAX 30 / Nov 28	13335.68
France CAC40 / Nov 28	5598.18

Indicator	Value
Per Capita Income USD (CPI) / Nov 19	1516.00
Weekly Foreign Reserves / Nov 27	20085.60
GDPGROWTH / Nov 27	1.00
Foreign Debt (PKR billions) / Nov 27	17000.00
Average CPI % / Nov 27	11.11
UK LIBOR % / Nov 28	0.08