Roundup: S&P -0.24%. Dow +0.03%. Nasdaq -0.26%. Gold $1,610.80. London -0.26%. Germany -0.79%. France -1.30%.
Will today see a relief rally in the markets? After all, the government is still standing, Cyprus rejected EU demands and the sky hasn’t fallen on our heads…
As expected, the Reserve Bank of India has cut its benchmark interest rate to 7.5% from 7.75%. Doesn’t mean that they are happy about it: “Even as the policy stance emphasizes addressing the growth risks, the headroom for further monetary easing remains quite limited.” (RBI)
There is a devastating fungus decimating coffee crops in Central America. Its gotten so bad that Starbucks purchased a farm to research the roya fungus, a.k.a. the leaf rust. Are we in for elevated coffee prices? (Reuters) [stockquote]TATAGLOBAL[/stockquote]
India Infoline and IDFC will be applying for banking licenses. After seeing the big banks encroach on their territory, brokers are licking their chops to return the favor. (ET) [stockquote]IDFC[/stockquote] [stockquote]INDIAINFO[/stockquote]
Say this is not true! Manappuram Finance selectively shared information about large loan losses with some investors before an analyst call. Shareholders who lost out are planning to drag the company to SEBI. (ET) [stockquote]MANAPPURAM[/stockquote] [stockquote]MUTHOOTFIN[/stockquote]