European shares held steady at the end of a strong week as a rally in commodities softened, although strong earnings updates boosted shares in Ericsson and Telia.
European shares fell alongside global stock markets as fears of a worsening trade conflict between the United States and China continued to worry investors.
The NSE Nifty logged modest gains in volatile trading session and closed higher by 33 points led by mild buying in key sectors.
European shares fell with tech, basic resources stocks and banks bearing the brunt of a wide sell-off triggered by worries that US tariffs could escalate into trade war.
Concerns around trade tariffs sent European shares tumbling to a two-week low as the U.S. prepared to announce hefty tariffs on Chinese imports.
European shares edged lower in early dealing, with investors cautiously awaiting the conclusion of a US Fed meet for signals on the pace of expected interest rate rises.
NSE benchmark Nifty fell 100.90 points to 10,094 amid weak global cues ahead of the US Federal Reserve's policy decision later in the week.
World investors will be paying close attention to the wording of Fed statement for clues on whether Powell and co think conditions are now strong enough to hike rates.
The MSCI All-Country World index .MIWD00000PUS, which tracks 47 countries, was flat after 3 straight sessions of losses and was set for a weekly fall of 0.6%.
European shares rose in early trading, boosted by gains among German utilities after the sector’s leading players announced a major overhaul of the industry.
Steel Ministry To Announce Scrap Policy This Year
Draft Scrappage Policy Allows Benefits For Vehicles Older Than 20 Yrs
Steel Secy Arun Sharma Says Policy Will Be Out By December 2018
Scheme Will Come In Effect From April 2020
Telenor India Eyes Bankruptcy Filing, Merger Plan With Airtel May Take Hit
Legal Tussle Over Bank Guarantee Could Also Delay Govt Approval
Economic Times Reports
Lenders To Meet Today To Decide On Essar Steel
CoC May Give Time To Arcelor And Numetal To Rectify Bids
Business Standard Reports
IPO under SEBI scanner
SEBI has sought details of investment made by ICICI Prudential MF
Had to cut its IPO Size To Rs 3,520 Cr from original target of Rs 4,017 Cr
A large chunk was bought by ICICI MF
ICICI MF is ICICI Securities largest public shareholder with 3.82% stake
Board approves proposal for corporate restructuring
Move aimed at simplifying & clarifying structure & holdings
To focus on travel, forex, destination mgmt & portfolio investments
Restructuring will consolidate HR services into Quess Corp
Shareholders will receive 1,889 shares of Quess for every 10,000 Shares Held in Co