Morning Cues: Global markets positive; eyes on US jobs data
The USL Diageo deal is finally done. Diageo completed the acquisition of 25.02% in USL making it the majority shareholder in the company.
July 05, 2013 / 09:08 IST
European markets rallied on Thursday with over 2-3 percent gains as both the European Central Bank (ECB) and the Bank of England left key policy rates unchanged at record lows. US markets were shut on account of their Independence Day. Indian equity benchmarks surged with the Sensex ending at 19410.84, up 233.08 points over the previous close. The Nifty gained 66.05 points to close at 5836.95.
Asian markets were positive in morning trade on Friday.All eyes will be on the key jobs data in US. The employment situation will be detailed. The June non-farm payrolls is seen lower at 1,61,000 after it increased to 1,75,000 in May. The unemployment rate, however, is seen improving slightly to 7.5 percent compared to 7.6 percent the previous month.The US probably didn't experience a big uptick in hiring in June, but most economists look for a steady pace of job creation despite a recent slowdown in the nation's rate of growth.Stocks to watch Unilever got nearly 66 percent subscription to its close to USD 5 billion open offer for Hindustan Unilever (HUL). The parent company has hiked stake in Hindustan Unilever by 14.8 percent to over 67 percent. 32 crore shares were tendered in the open offer and acceptance ratio is seen at 100 percent. Unilever will spend more than USD 3 billion to hike the stake. United Spirits(USL)-Diageo deal is finally done. Diageo completed the acquisition of 25.02 percent in USL making it the majority shareholder in the company.ITC raised prices of its Gold Flake cigarette brand by over 7 percent. A 10 cigarette pack of Gold Flake Filter will cost Rs 59, up from Rs 55 earlier. Gold Flake Premium Filter cigarette prices are up by Rs 3. After Bank of India, Canara Bank decided to cut base rate by 30 bps to 9.95 percent from Monday. BGR Energy promoters will sell 21.75 lakh shares of the company via offer for sale (OFS) today. The floor price has been set at Rs 118 a share. Strides Arcolab board has given its nod to increase FII limit to 74 percent from 49 percent. Agency reports indicate that according to government sources, import duty on sugar may be hiked to 15 percent versus 10 percent soon. Macquarie Bank bought 50 lakh shares of Goenka Diamondi.e. 1.6 percent stake at Rs 22.24 a share. EuropeMarkets rallied to post their biggest one-day jump in 10 weeks after the bank of England and the European Central Bank both gave guidance for the first time on the path for future monetary policy. ECB Chief Mario Draghi and the new Bank of England Governor said that rates will stay low for longer. Currency The dollar leaped towards the 84 mark. The euro slipped to a five-week low of 1.28.CommoditiesBrent Crude stood around USD 105 per barrel. From the precious metals space, gold traded below USD 1250 an ounce. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
