Category: Your Money

Market roundup: Dow +0.20% to 13534. S&P +0.11% to 1472. Gold -0.09% to $1682.30 London–0.15%. Germany –0.69%. France –0.29%.

The World Bank forecast that global gross domestic product will inch up 2.4 per cent this year, from 2.3 per cent in 2012. In its last forecast in June, the bank projected global growth would reach 3.0 per cent in 2013. Will the new growth approximations have an impact on the roaring markets? (ET)

Axis Bank Ltd [stockquote]AXISBANK[/stockquote] did well in the December quarter, with its net interest income rising by 16.6% over the year-ago period. Some analysts had expected growth of 12-13%, primarily because of a high base effect. After IT its now time for our banks to shine. HDFCBANK and IDBI results expected by end of this week.  (MINT)

India’s antitrust body has sought more details on the acquisition of United Spirits Ltd (USL) by Diageo Plc to make sure that the merger doesn’t create a monopoly. [stockquote]USL[/stockquote] controls over half of India’s 250 million cases liquor market and owns brands such as McDowell’s No.1 and Bagpiper. Mr. Mallya will have to wait for a bit more to see the deal through. (MINT)

SEBI has proposed allowing gold exchange-traded funds to park up to 20% of their gold holdings with commercial banks against 100% maintained currently. The suggestion is in line with a similar proposal made by the RBI recently to put the gold corpus of ETFs to productive use and, thereby, curb India’s huge gold imports. Let’s wait to see how this impacts performance of various GOLD ETF’s like [[stockquote]GOLDBEES[/stockquote], [stockquote]KOTAKGOLD[/stockquote] etc. (ET)

How is Facebook’s new search tool (Graph search) going to fare with Google’s long standing search engine? Mark Zuckerberg unveiled a feature to help its users search for people and places within the social network, in the first major product launch event since company’s IPO in May last year. Will it be a decisive factor in the competition amongst the two? (MINT)

Open a StockViz Demat Account today!

Market roundup: Dow +0.14% to 13507. S&P –0.09% to 1470. Gold –0.15% to $1667.60 London –0.22%. Germany +0.18%. France +0.06%

Markets rallied 1.22% on Monday, after the government announced deferring the implementation of controversial tax-avoidance rules until 2016. The decision to defer GAAR would stimulate business confidence of investors, which had taken a beating with the introduction of tax proposal. (ET)

The spread between gold and platinum narrowed to $31.30 an ounce, its smallest since last April, after platinum staged its biggest two-week rise in about four months on growing expectations of global economic recovery. Is Platinum on a come-back run? (ET)

Financial sector funds recorded their sixth straight week of inflows as the strength and depth of support from central banks overshadowed news of more cost cutting. US averting fiscal cliff, signs of economic recovery in China keep investor sentiment upbeat. (MINT)

TCS [stockquote]TCS[/stockquote] net profit for the three months ended December rose 26.7% from a year earlier, beating analysts’ expectations in a seasonally weak quarter and auguring well for the troubled $70 billion Indian information technology (IT) exports business. (MINT)

And on a totally unrelated front, Coke is now going to address obesity in Ads after becoming one of the world’s most powerful brands by equating its soft drinks with happiness.. (ET)

Open a StockViz Demat Account today!

Friday’s market action: Dow +0.13% to 13488. Crude+0.29% to $93.85. Gold +0.06% to $1661.60 London +0.33%. Germany +0.09%. France +0.08%.

Investors are speculating if TCS will surprise the Street when its announces its earnings later today. Analysts, however, are not expecting any major deviations from their estimates. TCS [stockquote]TCS[/stockquote] and WIPRO [stockquote]WIPRO[/stockquote] closed 4% and 6% higher on Friday respectively following INFY’s lead. (ET)

India’s headline inflation is likely to have risen in December by less than the central bank projected, and analysts expect a cut of at least 25 basis points in the policy repo rate. (ET)

After Satyam scam, it looks like Price Waterhouse has caught itself in another problem. The Income-Tax office in Chennai has summoned audit firm Price Waterhouse and Company to appear before it in connection with the alleged tax default by Nokia to the extent of Rs 2,500 crore. (BusinessLine)

China’s unexpected surge in exports last month renewed concern from analysts at Goldman Sachs Group Inc., UBS AG and Australia & New Zealand Banking Group Ltd. (ANZ) that statistics from the nation can be unreliable.The increase didn’t match goods movements through ports and imports by trading partners according to UBS. What is cooking in China now?  (Bloomberg)

After US and France changing there TAX regime, voices in India are contemplating the pros and cons for Indian economy. What does it have in store for investor and people in general – Aswath Damodaran explains . (ET)

Open a StockViz Demat Account today!