Fridays’ overseas action: S&P +1.01%, Dow +1.08%, Nasdaq +1.18%, London +1.12%. Germany +0.74%. France +1.10%.
The Economist’s piece on Maruti’s rise, fall and redemption. (Economist) [stockquote]MARUTI[/stockquote]
Credit Suisse has gone on record that the bull run for gold is over, saying the “fear trade” that caused the metal to more than quintuple in value peaked last year. “We feel that demand for ‘safe havens’ will continue to moderate over coming months and years as the risk of a truly monumental economic collapse continues to diminish,” the bank said. (FT) [stockquote]GOLDBEES[/stockquote]
At least we Indians are candid: “We don’t want to get into a similar mess. It’s only natural that on the day my bank is borrowing, I will tend to forecast a little lower rate, but send out a higher number when I’m lending.” On how the LIBOR scandal in Europe has made Indian brokers shy. (ET)
World Bank and the Asian Development Bank have bluntly told India it needs to improve its investment climate and physical infrastructure, and modernize its financial sector if it needs to grow. Tell us something we don’t know. (FT)