BR100 3,787 Increased By ▲ 50 (1.35%)
BR30 19,375 Increased By ▲ 273 (1.43%)
KSE100 36,619 Increased By ▲ 428 (1.18%)
KSE30 15,901 Increased By ▲ 207 (1.32%)
COVID-19 TOTAL DAILY
CASES 251,625 2753
DEATHS 5,266 69
TSX rises as producer prices gain in June
Markets

TSX rises as producer prices gain in June

  • Investors will be watching out for the Bank of Canada latest interest rate decision and its quarterly monetary policy report on Wednesday.
  • The energy sector dropped 0.4% as US crude prices were down 0.5% a barrel, while Brent crude lost 0.5%.
Published Jul 13, 2020 09:17pm
Eurozone bonds sell off as stocks hit five-month peak
Markets

Eurozone bonds sell off as stocks hit five-month peak

  • "It's been a good day for equities in general and a good day for risk," said Rabobank strategist Lyn Graham-Taylor, adding: "I think (moves) definitely will be exaggerated by quiet markets."
  • Rabobank's Graham-Taylor expects the EU's recovery fund to be the main driver of market moves this week.
Published Jul 13, 2020 09:14pm
BoE's Bailey says now is the time to plan for post-Libor era
Business

BoE's Bailey says now is the time to plan for post-Libor era

  • Bailey acknowledged there had been calls to step back from the Libor transition as a priority because of the shock to global financials markets caused by the coronavirus crisis.
  • But in my view, what we saw in financial markets in March in response to the shock of Covid only reinforces the importance of removing the financial system's dependence on Libor in a timely way.
Published Jul 13, 2020 09:05pm
Russia's Gazprom Neft sends its first oil cargo to China via Arctic route
Markets

Russia's Gazprom Neft sends its first oil cargo to China via Arctic route

  • Gazprom Neft said on Monday it took 47 days to deliver a cargo with 144,000 tonnes of light Novy Port oil grade to the Chinese port of Yantai on the Bohai Sea from Russia's north-western city of Murmansk.
  • Combined with its second Arctic oil field, Prirazlomnoye in the Pechora Sea, Gazprom Neft has shipped over 40 million tonnes of Arctic oil to Europe.
Published Jul 13, 2020 08:39pm
India's gem, jewellery exports in record fall
Business

India's gem, jewellery exports in record fall

  • Factories were operating with just 10% or 20% workforce because of lockdown. Demand was also weak from overseas during the quarter.
  • Production is still likely to be affected in July and will return to normal levels only after restrictions are eased.
Published Jul 13, 2020 08:24pm
Sri Lankan shares dive 2pc on rising coronavirus cases
Markets

Sri Lankan shares dive 2pc on rising coronavirus cases

  • The benchmark CSE All Share Index closed down 2.26% at 4,879.8, its biggest one-day percentage drop since May 12 and marked its second straight session of losses.
  • Lanka will also delay the opening up of its airports, local media reported, quoting the country's civil aviation minister.
Published Jul 13, 2020 08:23pm
Japan's MUFG to expand lending business in Thailand with Grab's big data
Business

Japan's MUFG to expand lending business in Thailand with Grab's big data

  • While MUFG has made a large investment in Southeast Asian banks as Japan faces demographic decline and ultra-low interest rates,
  • Since our investment phase is over, we are not considering making a big acquisition of commercial banks immediately but will harvest profits from the investments.
Published Jul 13, 2020 08:19pm
Yields rise, curve steepens as risk sentiment improves
Markets

Yields rise, curve steepens as risk sentiment improves

  • Investors are now using that move as an opportunity to reset bets that long-dated yields will rise, and to reenter trades that benefit from a steeper yield curve.
  • Thirty-year bond yields increased four basis points to 1.365%. The gap between five-year note and 30-year bonds yields.
Published Jul 13, 2020 08:17pm
US natgas futures slide on rising output, less hot weather
Markets

US natgas futures slide on rising output, less hot weather

  • Traders noted that price decline came despite a drop in liquefied natural gas (LNG) exports this month to their lowest since early 2018.
  • Front-month gas futures for August delivery on the New York Mercantile Exchange fell 2.7 cents, or 1.5%, to $1.778 per million British thermal units.
Published Jul 13, 2020 07:08pm
Dubai leads Gulf markets' retreat, blue-chips hurt Egypt
Markets

Dubai leads Gulf markets' retreat, blue-chips hurt Egypt

  • In Dubai, where real estate market has been sluggish, the index declined 0.9%, dragged down by a 2.2% fall in blue-chip developer Emaar Properties .
  • The benchmark index in Saudi Arabia fell 0.3%. Al Rajhi Bank lost 0.7% and oil behemoth Saudi Aramco decreased 0.5%.
Published Jul 13, 2020 07:02pm
Wall St opens higher on vaccine hopes, Pepsi boost
Markets

Wall St opens higher on vaccine hopes, Pepsi boost

  • The Dow Jones Industrial Average rose 149.77 points, or 0.57%, at the open to 26,225.07
  • The S&P 500 opened higher by 20.04 points, or 0.63%, at 3,205.08, while the Nasdaq Composite gained 112.48 points.
Published Jul 13, 2020 07:01pm
Palm oil closes higher on stronger global equities
Markets

Palm oil closes higher on stronger global equities

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed up 15 ringgit, or 0.62%, at 2,427 ringgit ($569.32) a tonne, after rising as much as 1.45%.
  • Malaysian palm oil inventories at end-June fell 6.3% from a month earlier, while production jumped 14.2%,
Published Jul 13, 2020 06:50pm
Saudi oil exports in Aug to stay at July level –sources
Markets

Saudi oil exports in Aug to stay at July level –sources

  • Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation.
  • This summer the demand for oil burning is set to rise more than last year due to COVID-19 movement restrictions which have forced millions of people to stay home.
Published Jul 13, 2020 06:26pm
Dollar decline continues as investors parse economic data, earnings
Markets

Dollar decline continues as investors parse economic data, earnings

  • The dollar ended its third week of losses on Friday as investors bought into risk-sensitive currencies on bets that the worst of the pandemic's sweeping impact was over.
  • The index that measures it against a basket of major currencies had slipped 0.2% by midday in London to 96.481 .
Published Jul 13, 2020 06:25pm
Barclays gets capital boost ahead of potential coronavirus loan losses
Business

Barclays gets capital boost ahead of potential coronavirus loan losses

  • The bank said it expected to report a CET1 capital ratio of 14% in half-year results later this month, up from 13.1% at the end of March.
  • The bank said its half-year results would reflect challenging income and impairments in its consumer and corporate business, but strength in its markets income.
Published Jul 13, 2020 05:46pm
Deutsche Bahn to buy 30 Siemens trains for 1bn euro
Business

Deutsche Bahn to buy 30 Siemens trains for 1bn euro

  • A member of the supervisory board told Reuters that the board has approved the investment to buy 30 Velaro trains which can reach speeds of up to 350 kilometres per hour.
  • The investment is part of the rail group's strategy to double its number of long-distance passengers by 2030.
Published Jul 13, 2020 05:41pm
Gold firms above $1,800/oz on virus, subdued dollar
Markets

Gold firms above $1,800/oz on virus, subdued dollar

  • The dollar index eased 0.2%, after a third consecutive weekly decline.
  • Safe-haven gold's rise also came despite gains in European shares.
  • Platinum was 3.5% higher at $842.68 per ounce; palladium gained 0.7% to $1,983.71.
Published Jul 13, 2020 05:34pm
Apple to spend more than $400mn of $2.5bn California housing fund this year
Business

Apple to spend more than $400mn of $2.5bn California housing fund this year

  • The majority of the first $400 million to be spent this year is going toward two programs Apple is working on with the California Housing Finance Agency.
  • Under the second, Apple has worked through the agency to help provide mortgage and down payment assistance to hundreds of first-time home buyers to date.
Published Jul 13, 2020 05:21pm
PNS Yarmook joins Pakistan naval fleet
Pakistan

PNS Yarmook joins Pakistan naval fleet

  • The 2,300-tonne corvette PNS ‘Yarmook’ F-271 is capable of performing a variety of tasks and maritime operations and could also transport a helicopter and an Unmanned Aerial Vehicle (UAV).
Updated Jul 13, 2020 04:17pm