Overseas: Dow +0.82% to 12984. S&P +0.76%. Nasdaq +0.81%. Gold -1.35% to $1721.25. London +0.06%. Germany +0.15%. France +0.37%.
Gold seems to be heading back towards its all-time high. But are higher prices crimping demand? India’s gold demand is expected to be almost 19% lower, to 800 tonnes, in 2012 compared to 986 tonnes in 2011. (ET) [stockquote]GOLDBEES[/stockquote]
Bank stocks have gone nowhere this quarter. Sluggish economic growth, low off take of new and current projects and regulatory issues in key sectors such as mining, telecom, and power continue to exert pressure on local lenders. (ET) [stockquote]BANKBEES[/stockquote]
Suzlon is finally in CDR – lenders have agreed to restructure over $2 billion of its debts. However, most of its problems are not going away: “too high leverage and too little cash-flow from operations, and global headwinds for the industry.” (ET) [stockquote]SUZLON[/stockquote]
British Telecom hangs up on Tech Mahindra. BT holds 9.09% stake in TECHM after selling 5.5% stake in December 2010 and another 14.1% stake in August 2012. (ET) [stockquote]TECHM [/stockquote]