Global markets at a glance

An index of Asian shares pulled away from a three-year
high on Friday after a mostly flat day on Wall Street,
though a fresh S&P closing record and upbeat U.S. employment data underpinned sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan was down
about 0.1 percent in early trade, though still on track
for solid weekly gain, while Japan's Nikkei stock average added 0.4 percent.

European shares opened slightly lower on Thursday,
with investor attention dominated by a raft of mixed
company earnings and economic data that appeared
unlikely to dispel worries about the eurozone's pace of
recovery. The FTSEurofirst 300 slipped 0.2% in early
trade, to 1,372.80pts, with benchmark indexes in
France, Germany and the UK down 0.3 to 0.6%.

Previous day Roundup

U.S. stocks finished a quiet session mostly flat on
Thursday as earnings painted a mixed picture of the
economy, though the S&P 500 set another record closing high. Recent gains on Wall Street have been fueled
by earnings, which have been strong this quarter. With
41 percent of S&P 500 companies having reported results so far, 68% have posted earnings that topped expectations. The DJI dipped 2.83 pts or 0.02%, to close
at 17,083.80. The S&P 500 gained 0.97 of a pts or
0.05% to end at 1,987.98, its second record closing high
in a row. The Nasdaq shed 1.59pts or 0.04%, to finish at
4,472.11. At its record intraday high of 1,991.39, the
S&P 500 was just 0.4% below the 2,000 milestone.

MACRO NEWS

TVSMOTOR reported lower than expected net profit 72cr
for Q1 June 30 2014, due to high raw material cost. Company had profit of Rs 52cr in same quarter last year.
Wipro’s Q1 IT services revenues rose 5% over April quarter,to Rs 11,140Cr,Vs. estimate of Rs 10699cr. Dollar revenues at USD1740.2mn marginally below estimate of
USD1745mn. Dollar revenues were up 1.16%QoQ.
IMF has retained its GDP forecast for India unchanged at
5.4% for FY15 & 6.4% for FY16. IMF believes improved
business sentiment is likely to offset impact of poor rains
and aid economic recovery in India. It says Indian GDP
growth appears to have bottomed out.

STOCKS IN NEWS

CIL faces 10 mt coal production loss as agitation continues.
Gujarat govt. admits giving loan to Tata Motors.
India's steel production up 0.8% amid signs of recovery.
Bharti Airtel gets 3G licence in Niger.
Cairn to shut down Mangala terminal for 10 days.
L&T Fin: NPAs dampen stable loan growth, credit costs.

COMMODITY ROUNDUP

Silver prices were down 0.59% to Rs 44,665 per kg in futures trade yesterday amidst profit-booking by speculators
and a weak trend overseas. At the Multi Commodity Ex-
change, silver for delivery in September traded lower by Rs
263, or 0.59%, to Rs 44,665 per kg in a business turnover of
1,333 lots. Similarly, the white metal for delivery in December declined by Rs 271, or 0.59%, to Rs 45,481 per kg in a
business volume of 67 lots. In the international market, silver fell by 0.50% to $20.80 an ounce in Singapore. Apart
from profit-booking by participants, a weak trend in global
markets led to the fall in silver prices at futures trade here.

CURRENCY ROUNDUP

The dollar held gains versus the yen on Friday and the euro
stood steady after rebounding from an eight-month low
against the greenback as data painted a brighter picture of
the U.S. and eurozone economies. The dollar was little
changed at 101.76 yen after gaining more than 0.3% overnight to a two-week high of 101.86 after weekly U.S. filings
for first-time jobless benefits fell to the lowest level since
early 2006. The greenback, which has been closely tracking
U.S. debt yields, was also helped by a rise in yields after the
strong employment indicator. It was poised to gain about
0.4 percent on the week against the Japanese currency but
lacked the momentum to test the 102.00 threshold.

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