INSUBCONTINENT EXCLUSIVE:
Hi there..
From ETMarkets.com, I am Prachi Sharma
And This is Markets Morning,
the headlines first..
>> OPEC split over crude output hike, backdoor diplomacy on for a deal
>> Trade war
pinches US first; Mid-Atlantic business activity ebbs
>> Sebi eases IPO rules to help fund-raising
AND
>> Tata group's profits swell 35%
under N Chandrasekaran
Good morning
As always, it's good to have you with us for the morning briefing.
OPEC scrambled to agree on raising oil output ahead of a key meeting in
Saudi Arabia and Russia are in favour of raising output, but other members, including Iran, have opposed such a deal
Tehran is holding out against a deal amid prospect of lower exports due to US sanctions.
Crude oil prices rose more than 1 per cent in early
Brent crude futures traded $1.02 cents higher at $74.07 a barrel while WTI crude futures rose by 90 cents to $66.45 a barrel
In the US, some
White House officials are desperately trying to avoid an escalation in trade war with China, seeking to resume talks with Beijing as Trump
administration readies to enforce the first wave of tariffs on Chinese goods from July 6.
Economists on Thursday speculated that an ebb in
import duties on the commodity along with some 28 other goods by 20 per cent, joining the EU and China in retaliating against President
pricing time to 2 days from 5 and lowers timeframe for financial disclosures to three years from five.
The market regulator said it has
agencies and called a meeting to discuss what they termed high-handedness of investigative agencies.
IN CORPORATE NEWS
Tata group companies'
profit rose 35 per cent in the first full financial year under Chairman N Chandrasekaran as revenues grew at the fastest pace in four years
Marcegaglia
AND
McKinsey Global Institute says risk of corporate debt defaults has increased in India following the recent rise in interest
rates and a 2 per cent increase in interest rates across the board could trigger a spike in risk proportion to 27 per cent from 18 per cent
at present
LASTLY, IN FINANCIAL MARKETS
Asian shares flirted with six-month lows amid signs of tariff effects on corporate profits
Japan's Nikkei was down 1 per cent in morning trade
Nifty futures in Singapore traded with deep cuts early morning, signalling sluggish trade on Dalal Street.
In overnight trade, Dow Jones
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