Euro dips as ECB meets market expectations

NEW YORK, Feb 2 (Reuters) – The euro dipped against the dollar on Thursday after the European Central Bank (ECB) hiked interest rates by a widely expected 50 basis points and offered no new hawkish surprises, while the Bank of England (BofE) adopted a more dovish tone on inflation. The ECB penciled in at least … Read more

Gulf markets mixed as Qatar falls, Dubai gains

Feb 2 (Reuters) – Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets, while Dubai shares ended higher on a strong banking sector performance. The Qatari stock index (.QSI) dropped 0.9%, falling for a fourth consecutive session, with most of its constituent stocks in negative territory. Index … Read more

Asset managers, banks call on EU to cost plans to grab euro clearing from London

LONDON, Feb 2 (Reuters) – Asset managers, hedge funds and banks on Thursday called on the European Union to properly cost its plans to force market participants to shift derivatives clearing business from London to mandatory accounts in the bloc. London Stock Exchange Group’s LCH and ICE in London have long dominated parts of the … Read more

Goldman Sachs raises emerging markets equities forecast

Feb 2 (Reuters) – Goldman Sachs on Thursday revised its forecast for emerging market equities upwards as it sees the developing world benefiting from the reopening of China’s borders, improving European growth prospects and softening US inflation. The investment bank sees MSCI’s index of emerging market shares (.MSCIEF) hitting 1,150 over the next 12 months, … Read more

Investor reaction to Adani market rout after short-seller report

SINGAPORE, Feb 2 (Reuters) – Adani Group called off a $2.5 billion share sale as losses for the conglomerate’s biggest firms snowballed to more than $100 billion in the wake of a US short-seller’s report. The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. Following are comments from … Read more

Analysis: Fed feeds Wall Street’s soft landing hopes, although recession fears still loom

Feb 2 (Reuters) – A more dovish-than-expected message from Federal Reserve Chairman Jerome Powell stands to further boost hopes of slowing rate hikes and a so-called economic soft landing that have fueled a powerful rebound in US stocks. For weeks, hopes that easing inflation and cooling growth will allow the Fed to pull back from … Read more

Hindenburg bet against India’s Adani puzzles rival US short sellers

Feb 1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. Its allegations, which the … Read more

Adani abandons $2.5 billion share sale in big blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks. The withdrawal of the Adani Enterprises (ADEL.NS) share offering marks a stunning … Read more

Biden moves to slash US credit card fees, app charges

WASHINGTON, Feb 1 (Reuters) – The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) charge on mobile app stores . The move is part of a larger policy drive to promote competition in consumer markets, … Read more

Exclusive: Indian market regulator examining Adani share route, source says

MUMBAI, Feb 1 (Reuters) – India’s market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday. The Securities and Exchange Board of India’s (SEBI) examination comes on … Read more