News Archives for Print - 2019-07-11

ICE cotton futures rose on Wednesday after falling to a three-year low in the previous session, as investors covered short positions ahead of the release of the USDA's monthly supply-demand report and the weekly export sales data. The most-active cotton c

Published 11 Jul, 2019 12:00am

Exchange

Base metals head higher on hopes of trade deal, US rate cut

Industrial metals prices rose sharply on Wednesday after US and Chinese negotiators opened a new round of trade talks and Federal Reserve Chairman Jerome Powell bolstered expectations of a US interest rate cut later this month.

Published 11 Jul, 2019 12:00am

Oil prices jump 4.5 percent on crude stocks draw, Gulf of Mexico storm

Oil prices rose 4.5 percent a barrel on Wednesday to their highest level in more than a month after US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm. Brent crude futures

Published 11 Jul, 2019 12:00am

Exchange

Tokyo rubber rises

Tokyo Commodity Exchange (TOCOM) futures inched higher on Wednesday even as Shanghai futures continued to fall on weak fundamentals. The benchmark TOCOM rubber contract for December delivery finished 0.9 yen ($0.0083) higher at 177.2 yen per kg. The most-

Published 11 Jul, 2019 12:00am

Vegetable Oil

Malaysian palm oil declines

Malaysian palm oil futures fell on Wednesday evening weighed down by higher than forecast inventory levels in June according to a data release from the Malaysian Palm Oil Board (MPOB). The benchmark palm oil contract for September delivery on the Bursa Ma

Published 11 Jul, 2019 12:00am

Cocoa dips amid confusion over Ghana, Ivory Coast pricing

Cocoa prices on ICE dipped on Wednesday as dealers awaited clarity on how top producers Ivory Coast and Ghana will price their beans going forward, while coffee prices slipped.

Published 11 Jul, 2019 12:00am

Exchange

Gold edges up in New York

Gold edged up on Tuesday after falling to a one-week low earlier in the session as investors used the drop in prices to buy the yellow metal with bullion holding a key technical level. The focus was on the US Federal Reserve Chair Jerome Powell's two days

Published 11 Jul, 2019 12:00am

Exchange

Gold slips in Asia

Gold prices eased on Wednesday, as the dollar climbed on reduced expectations of a sharp US interest rate cut and ahead of Federal Reserve Chairman Jerome Powell's congressional testimony due later in the day. Spot gold was down 0.5% at $1,391.35 per ounc

Published 11 Jul, 2019 12:00am

Gold climbs in Europe

Gold prices recouped losses to rise nearly 1% on Wednesday as the dollar slid after US Federal Reserve Chairman Jerome Powell fanned expectations of an interest rate cut, citing risks to the US economy. Powell said concerns about trade policy and a weak g

Published 11 Jul, 2019 12:00am

US MIDDAY: corn and wheat weak

Chicago corn futures fell further on Wednesday as improved crop ratings and drier weather were seen boosting US production prospects after torrential spring rains, analysts said. Wheat futures also declined as the US winter wheat harvest progressed, while

Published 11 Jul, 2019 12:00am

US MIDDAY: gold rises

Gold prices recouped losses to rise over 1% on Wednesday as the dollar slid after US Federal Reserve Chairman Jerome Powell fanned expectations of an interest rate cut, citing risks to the US economy.

Published 11 Jul, 2019 12:00am

Finch coy over Maxwell after struggling Australia star misses net session

Australia captain Aaron Finch insisted Glenn Maxwell's absence from a net session on the eve of the World Cup semi-final against England didn't necessarily mean he would miss Thursday's clash. Maxwell has struggled to hit peak form during the World Cup an

Published 11 Jul, 2019 12:00am

'Forty-five minutes of bad cricket put us out' says Kohli after India's shock exit

Virat Kohli admitted India had paid the price for "45 minutes of bad cricket" as the heart-broken skipper surveyed the wreckage of his side's stunning World Cup exit. Kohli's team crashed to an unexpected 18-run defeat against New Zealand in the semi-fina

Published 11 Jul, 2019 12:00am

New Zealand stun India in World Cup semi-final thriller

New Zealand stunned India to reach their second successive World Cup final as they survived Ravindra Jadeja's late heroics to clinch a thrilling 18-run win at Old Trafford on Wednesday. It was a superb display by the underdog Black Caps, who came into the

Published 11 Jul, 2019 12:00am

New Zealand stun India in World Cup semi-final thriller

Published 11 Jul, 2019 12:00am

Djokovic into ninth Wimbledon semi as Federer, Nadal eye match-up

Four-time champion Novak Djokovic reached the Wimbledon semi-finals for the ninth time on Wednesday, racking up his 70th career win at the All England Club in the process. The top seed and world number one hit back from a break down in the first set to ca

Published 11 Jul, 2019 12:00am

Beckham's MLS club gets approval to develop training site

Former England star David Beckham's Inter Miami expansion squad in Major League Soccer has received approval to redevelop a Fort Lauderdale site as its training facility and temporary home stadium.

Published 11 Jul, 2019 12:00am

Referee hits back at Messi, Argentina accusations

The referee accused by Argentina at the Copa America of having made "serious and gross" mistakes during their semi-final defeat to Brazil has hit back at his detractors accusing them of being bad losers.

Published 11 Jul, 2019 12:00am

Indian workers toil at one of world's highest roads

Hundreds of miles from their homes, a group of labourers are toiling in a cold Indian Himalayan desert to repair some of the world's highest roads. Stationed near Chang La pass which is perched at a height of 5,360 metres (17,590 feet), the 13 men, whose

Published 11 Jul, 2019 12:00am

South Korea warns of 'prolonged' export row with Japan

South Korean President Moon Jae-in told top business leaders Wednesday that Japan's restrictions on exports of chemicals crucial to the country's tech sector had caused an "unprecedented emergency" and warned of a drawn-out trade dispute.

Published 11 Jul, 2019 12:00am

Qatar, US agree major deals as emir visits Washington

The US and Qatar have agreed a raft of contracts worth billions of dollars during a visit to Washington by the Gulf state's emir, including an $8 billion deal on a petrochemical project. Qatar Petroleum and US energy giant Chevron Phillips Chemical inked

Published 11 Jul, 2019 12:00am

China factory price inflation slips

Factory prices in China were unchanged in June from a year ago, data showed Wednesday, reviving the prospect of deflation as the US trade war hits the crucial manufacturing sector.

Published 11 Jul, 2019 12:00am

Exchange

Venezuela inflation rate drops again - to 445,482 percent

Venezuela's monthly inflation rate fell for the second straight month in June, but the annual rate remained above 400,000% and workers' salaries are still not enough to cover the rising cost of consumer goods in the collapsing economy, an opposition lawma

Published 11 Jul, 2019 12:00am

Exchange

US, China negotiators resume trade war talks

Top US and Chinese negotiators held phone talks on Tuesday as the world's top two economies seek to resolve their trade war, more than a week after they declared a truce.

Published 11 Jul, 2019 12:00am

Bombardier lays off 550 workers from Ontario plant

The Canadian group Bombardier announced Wednesday it will lay off 550 employees from its Thunder Bay, Ontario plant, cutting the site's workforce in half.

Published 11 Jul, 2019 12:00am

ArcelorMittal to cut 2,000 jobs in South Africa

Global steel giant ArcelorMittal said Wednesday it could slash nearly a quarter of its workforce in South Africa in a bid to curb costs as it expects to fall into the red in the first six months of this year. "A large-scale restructuring is contemplated,

Published 11 Jul, 2019 12:00am

UK economy grows more than expected

Britain's economy grew by more than expected in May, helped a rebound in car production after Brexit-related shutdowns, according to figures that will ease concerns about the extent of the country's slowdown.

Published 11 Jul, 2019 12:00am

Choking India gets first fully-fledged electric car

Motorists in India, home to some of the world's most polluted cities, can now buy a fully-fledged electric car after Hyundai unveiled a model that can travel 452 kilometres (281 miles) on one charge. The Kona Electric SUV will cost $36,000 - more than thr

Published 11 Jul, 2019 12:00am

British inventor Dyson pays $54 millions for Singapore's priciest penthouse

British billionaire inventor James Dyson has paid a reported $54 million for Singapore's biggest, most expensive penthouse: a three-floor residence with a rooftop terrace, private pool, and jacuzzi. His electric appliance company, known for its bagless va

Published 11 Jul, 2019 12:00am

Door open to US rate cut as Fed's Powell flags economic uncertainties

Federal Reserve Chair Jerome Powell on Wednesday left the door open to an interest rate cut this month, pointing to uncertainty about trade frictions and global growth.

Published 11 Jul, 2019 12:00am

Property firms bolster Dubai index, oil prices lift Saudi bourse

Dubai stocks rose sharply on Wednesday as all real estate shares gained, while banks drove the Saudi market higher amid rising oil prices and after EFG Hermes forecast higher second quarter profit for Saudi lenders.

Published 11 Jul, 2019 12:00am

Indian shares lower

Indian shares closed lower on Wednesday amid a slew of disappointing news, with Bajaj Finance Ltd and Indiabulls Housing Finance Ltd weighing the most on the NSE index. Domestic share markets witnessed a sharp selloff in the previous two sessions as inves

Published 11 Jul, 2019 12:00am

Tokyo stocks fall

Tokyo stocks ended lower Wednesday as investors took to the sidelines ahead of key US congressional testimony by Federal Reserve chief Jerome Powell. The benchmark Nikkei 225 index lost 0.15 percent, or 31.67 points, at 21,533.48, while the broader Topix

Published 11 Jul, 2019 12:00am

Wednesday's early trade: S&P 500 breaks through 3,000 following Powell comments

The benchmark S&P 500 briefly crossed the 3,000-point mark for the first time on Wednesday after dovish remarks from Federal Reserve Chairman Jerome Powell boosted the case for an interest rate cut later this month.

Published 11 Jul, 2019 12:00am

Exchange

S&P 500 ekes out gain though profit worries weigh

The S&P 500 ended slightly higher on Tuesday as gains in tech-related shares offset worries about a weakening outlook for earnings. Gains in Amazon.com, Facebook Inc and Apple gave the biggest boost to the S&P 500 and Nasdaq, which ended the day up 0.5%.

Published 11 Jul, 2019 12:00am

Treasury yields tick up, curve flattens

US Treasury yields ticked up on Tuesday in muted trading ahead of the release of June's Federal Reserve meeting minutes on Wednesday.

Published 11 Jul, 2019 12:00am

Treasury yields tick up, curve flattens

US Treasury yields ticked up on Tuesday in muted trading ahead of the release of June's Federal Reserve meeting minutes on Wednesday.

Published 11 Jul, 2019 12:00am

Australian shares up; New Zealand hits record high

Aussie shares ended higher on Wednesday on growing expectations the central bank will cut interest rates again to shore up weak demand, while financials firmed after S&P upgraded its outlook for the "Big Four" banks.

Published 11 Jul, 2019 12:00am

China shares fall

Chinese shares fell on Wednesday as flat producer price inflation fuelled concerns about domestic growth, and a flood of initial public offerings targeting Shanghai's new tech board diverted funds from the rest of the market.

Published 11 Jul, 2019 12:00am

European shares down as Fed optimism short-lived; banks outperform

European shares closed lower for a fourth straight session on Wednesday as concerns about trade tensions and a weak global economy highlighted by Fed chair Jerome Powell overshadowed short-lived optimism of an interest rate cut later in the month.

Published 11 Jul, 2019 12:00am

Most SE Asian stocks rise

Most Southeast Asian stock markets rose on Wednesday, with Thailand leading the pack with a gain of 1%, as market participants counted on US Federal Reserve Chairman Jerome Powell to stay accommodative in his congressional testimony later in the day.

Published 11 Jul, 2019 12:00am

Exporters lead FTSE lower as Fed Chair's comments knock dollar

London's FTSE 100 suffered a fourth day in the red, its longest losing streak since January, with exporter stocks taking a hit from a weaker dollar as US Fed Chairman Jerome Powell's comments boosted hopes for an interest rate cut.

Published 11 Jul, 2019 12:00am

Exchange

Dollar holds onto gains in Asia

The dollar neared a three-week high against a basket of major currencies on Wednesday as investors continued to unwind bets on deep US interest rate cuts, pushing Treasury yields higher. Further gains in the greenback depend on the tone Federal Reserve Ch

Published 11 Jul, 2019 12:00am

Exchange

Euro bounces above $1.12 in Europe

The euro rose above $1.12 on Wednesday, bouncing off two-week lows as dwindling bets on aggressive US rate cuts buoyed the dollar, but stayed within tight ranges before Fed Chair Jerome Powell testified before the US Congress. US Treasury yields have rise

Published 11 Jul, 2019 12:00am

Currency

Early trade in New York: dollar weakens after gloomy Powell comments

The dollar fell on Wednesday after Federal Reserve Chairman Jerome Powell struck a downbeat tone in congressional testimony, saying trade uncertainties and concerns about the global outlook continued to exert pressure on the US economy.

Published 11 Jul, 2019 12:00am

Currency

Dollar rises, euro dips in New York

The dollar inched up to a three-week high against a basket of currencies on Tuesday as traders await clues in Federal Reserve Chairman Jerome Powell's testimony before Congress and minutes from the Fed's last policy meeting on possible rate cuts. The gree

Published 11 Jul, 2019 12:00am

Exchange

South Africa's rand up

South Africa's rand firmed on Wednesday as the dollar weakened after US Federal Reserve Chairman Jerome Powell highlighted risks to the US economy in remarks that could bolster expectations of an interest rate cut later this month. The rand was also boost

Published 11 Jul, 2019 12:00am

Exchange

Asian forex: Emerging units make small moves

Emerging Asian currencies made only small moves on Wednesday, as investors waited for congressional testimony by Federal Reserve Chairman Jerome Powell for clues on the odds of a near-term easing of US monetary policy. There was no common trend in Asian u

Published 11 Jul, 2019 12:00am

Currency

Rouble boosted by higher oil prices, bond sale

The Russian rouble firmed on Wednesday partly in response to higher oil prices and strong demand for Russian government bonds at a treasury auction.

Published 11 Jul, 2019 12:00am

Currency

Rouble boosted by higher oil prices, bond sale

The Russian rouble firmed on Wednesday partly in response to higher oil prices and strong demand for Russian government bonds at a treasury auction.

Published 11 Jul, 2019 12:00am

Currency

Sterling holds near 2-year lows

Britain's economic gloom and a fast-approaching Brexit deadline kept sterling near two-year lows on Wednesday, while diplomatic spats with the United States and China highlighted the country's troubled ties with other trade and political partners.

Published 11 Jul, 2019 12:00am

Sri Lankan rupee rises

Sri Lankan rupee closed firmer at 175.50/60 per dollar on Wednesday, compared with Tuesday's close of 175.70/80, as dollar sales by banks surpassed importer greenback demand. The rupee rose 0.17% last week, and is up 4.04% so far this year. The rupee drop

Published 11 Jul, 2019 12:00am

Currency

Aussie, kiwi stay down

The Australian dollar headed for a fifth straight session of losses on Wednesday on yet another disappointing piece of economic data and as markets trimmed the probability of aggressive policy easing in the United States.

Published 11 Jul, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 27	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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