Funding & Business
India’s Public Sector Banks Are Catching up With Private Lenders
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Good morning, this is Chiranjivi Chakraborty, an equities reporter in Mumbai. It looks like Indian stocks are set for a modest uptick this morning, thanks to the positivity in regional markets. The favorable US inflation data overnight is being seen as making a Fed rate cut more likely. India too had some good news on that front – inflation has cooled to multi-year low, which is a silver lining amid the gloom surrounding middling corporate earnings and trade tensions with the US. Key earnings to watch include Indian Railway Catering, United Spirits and Bharat Petroleum Corp.
For investors, the risk from France’s unstable politics lies beyond Monday’s confidence vote in Parliament, when François Bayrou is likely to lose his premiership.
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Bangladesh’s central bank is working to boost its reserves to about $40 billion by the end of the fiscal year in June in an effort to stabilize its exchange rate, Governor Ahsan H. Mansur said.
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The People’s Bank of China increased its gold holdings in August for a 10th month, in a continued push to diversify its reserves away from US dollars.
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