Gold rises as dollar falls on Egypt unrest, U.S. data

Investing.com - Gold prices rose on Wednesday after mixed U.S. data made timing the end of Federal Reserve stimulus measures more difficult, which gave gold room to rise as the dollar slid.

Stimulus measures such as the Fed's monthly USD85 billion bond-buying program weaken the dollar and send gold rising as a hedge, and while the market widely expects the U.S. central bank to scale back such measures later this year, speculation of possible delays bolstered the yellow metal.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were up 0.68% at USD1,251.85 a troy ounce in U.S. trading on Wednesday, up from a session low of USD1,236.05 and down from a high of USD1,258.95 a troy ounce.

Gold futures were likely to find support at USD1,224.85 a troy ounce, Monday's low, and resistance at USD1,300.55, the high from June 24.

Payroll processor ADP reported earlier that the U.S. private sector added 188,000 jobs in June, beating expectations for an increase of 160,000.

Separately, the U.S. Department of Labor said the number of individuals filing for initial unemployment assistance last week fell by 5,000 to 343,000, slightly better than expectations for a drop of 3,000 to 345,000.

Separate data showed that service-sector activity in the U.S. grew at a slower rate than expected in June.

The Institute of Supply Management said its non-manufacturing purchasing managers' index fell to 52.2 in June from 53.7 in May, compared to expectations for an increase to 54.0.

Collectively, the data pointed to a picture of an economy on the mend though doubts as to whether the Federal Reserve feels it merits an end to stimulus programs gave gold room to rise.

Elsewhere, news reports that the military was preparing to establish its own roadmap for the country and possibly end Egyptian President Mohammed Morsi's administration via coup spooked investors worldwide and sparked safe haven demand for the yen, which came at the dollar's expense.

Elsewhere on the Comex, silver for September delivery was up 2.13% at USD19.720 a troy ounce, while copper for September delivery was up 1.01% and trading at USD3.175 a pound.

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Forex - EUR/USD gains on mixed U.S. data, Egypt unrest

Investing.com - The euro strengthened against the dollar on Wednesday despite political uncertainty in Portugal, as fresh uncertainties as to when monetary stimulus programs may unwind in the U.S. repelled investors from the greenback.

Stimulus programs such as the Fed's monthly USD85 billion asset-purchasing program tend to weaken the dollar to spur recovery.

In U.S. trading on Wednesday, EUR/USD was up 0.22% at 1.3008, up from a session low of 1.2924 and off from a high of 1.3032.

The pair was likely to find support at 1.2924, the earlier low, and resistance at 1.3078, Tuesday's high.

Payroll processor ADP reported earlier that the U.S. private sector added 188,000 jobs in June, beating expectations for an increase of 160,000.

Separately, the U.S. Department of Labor said the number of individuals filing for initial unemployment assistance last week fell by 5,000 to 343,000, slightly better than expectations for a drop of 3,000 to 345,000.

Separate data showed that service-sector activity in the U.S. grew at a slower rate than expected in June.

The Institute of Supply Management said its non-manufacturing purchasing managers' index fell to 52.2 in June from 53.7 in May, compared to expectations for an increase to 54.0.

Collectively, the data depicted an economy on the mend though doubts as to whether the Federal Reserve feels it merits an end to stimulus programs arose and softened the dollar.

Elsewhere, news reports that the Egyptian military was preparing to establish its own roadmap for the country and end President Mohammed Morsi's administration via coup spooked investors worldwide and sparked safe haven demand for the yen, which came at the dollar's expense.

The euro erased earlier losses stemming from Portugal's Finance Minister Vitor Gaspar's decision earlier this week to resign in wake of data that indicated that the country's budget deficit widened in the first quarter.

The move sparked fears of a backlash against austerity measures in the country.

The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.66% at 0.8508 and EUR/JPY trading up 0.57% at 129.85.

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U.S stocks dip on Fed uncertainty, Egyptian standoff; Dow falls 0.28%

Investing.com - U.S. stocks finished Tuesday lower on uncertainty as to when the Federal Reserve will scale back its USD85 billion monthly asset purchasing program, which has sent stocks rising in recent months.

Elsewhere, concerns that the Egyptian military may step in and end a political standoff there pushed stocks down as well.

At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.28%, the S&P 500 index ended down 0.05%, while the Nasdaq Composite index fell 0.03%.

Investors kept a close eye on Friday, when the U.S. Bureau of Labor Statistics will release its June jobs report, which markets hope will act as a weather vane as to when the Fed may begin to dismantle stimulus programs, which send stocks rising as a side effect.

Concerns began to build Tuesday, however, that even if the numbers beat forecasts, whether or not the report meets Federal Reserve expectations to wind down stimulus programs remains to be seen.

The Fed has said it would like to see a rate of around 6.5%, well below the current rate of 7.6%, and the uncertainty steered investors out of equities in a choppy session that saw bullish pressures as well.

The Commerce Department reported earlier that U.S. factory orders rose 2.1% in May from April, beating expectations for a 2.0% increase and above an upwardly revised 1.3% rate in April.

Elsewhere, the Egyptian military on Monday gave President Mohamed Mursi 48 hours to craft a power-sharing plan with opposition political forces or else the country's armed forces may step in and intervene in some way.

By the closing bell on Tuesday, no deal had been reached, which stoked fears the conflict may escalate and possibly spread.

Leading Dow Jones Industrial Average performers included JPMorgan Chase, up 0.67%, Verizon Communications, up 0.66%, and AT&T, up 0.65%.

The Dow Jones Industrial Average's worst performers included General Electric, down 1.84%, Boeing, down 1.67%, and The Travelers Companies, down 1.55%.

European indices, meanwhile, finished lower.

After the close of European trade, the EURO STOXX 50 fell 0.74%, France's CAC 40 fell 0.66%, while Germany's DAX 30 finished down 0.92%. Meanwhile, in the U.K. the FTSE 100 finished down 0.06%.

On Wednesday, the U.S. is to release the ADP report on nonfarm payrolls, which leads the closely watched government report by two days. The U.S. is also to release the weekly government report on initial jobless claims, one day ahead of schedule, as well as data on the trade balance.

In addition, the Institute for Supply Management is to produce a report on U.S. service sector activity.

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U.S. API Weekly Gasoline Stock falls more-than-expected

Investing.com - U.S. API weekly gasoline stocks fell more-than-expected last month, official data showed on Thursday.

In a report, American Petroleum Institute said that U.S.API Weekly Gasoline Stock fell to a seasonally adjusted -0.18M, from 1.33M in the preceding month.

Analysts had expected U.S.API Weekly Gasoline Stock to fall to 0.44M last month.

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Indian Hotels Company fixes book closure for dividend

Jul 02, 2013, 12.42 AM IST

The Register of Members & Share Transfer Books of Indian Hotels Company will remain closed from July 19, 2013 to August 02, 2013 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting of the Company to be held on August 02, 2013.

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Indian Hotels Company fixes book closure for dividend

The Register of Members & Share Transfer Books of Indian Hotels Company will remain closed from July 19, 2013 to August 02, 2013 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting of the Company to be held on August 02, 2013.

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Indian Hotels Company fixes book closure for dividend

The Register of Members & Share Transfer Books of Indian Hotels Company will remain closed from July 19, 2013 to August 02, 2013 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting of the Company to be held on August 02, 2013.

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Indian Hotels Company Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 19, 2013 to August 02, 2013 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Company to be held on August 02, 2013.Source : BSE

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From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18

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U.S stocks end higher but pare gains on Fed uncertainty; Dow rises 0.44%

Investing.com - U.S. stocks rose on Monday after manufacturing data beat expectations though lingering uncertainty as to when the Federal Reserve will scale back its USD85 billion monthly asset purchasing programs trimmed earlier gains.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.44%, the S&P 500 index ended up 0.54%, while the Nasdaq Composite index rose 0.92%.

Data released earlier painted a picture of a U.S. economy that is on the mend though still battling uncertainty.

The Institute for Supply Management said its manufacturing purchasing managers' index rose to 50.9 from 49.0 in May, above expectations for a reading of 50.5.

However, the report added that the employment index declined to 48.7 from 50.1 in May, falling below the 50 level that separates contraction from growth for the first time since September 2009.

The numbers sparked some unease ahead of the release of Friday's U.S. nonfarm payrolls data, which could provide the market with a weather vane as to when the Federal Reserve begins to taper its dollar-weakening stimulus measures, which tend to boost prices by keeping interest rates low across the economy.

Such concerns sent stocks falling from earlier highs though indices finished higher on sentiments the economy continues to improve.

Leading Dow Jones Industrial Average performers included United Technologies, up 1.94%, The Travelers Companies, up 1.53%, and Procter & Gamble, up 1.34%.

The Dow Jones Industrial Average's worst performers included Intel, down 1.40%, Pfizer, down 0.82%, and JPMorgan Chase, down 0.55%.

European indices, meanwhile, finished higher

After the close of European trade, the EURO STOXX 50 rise 0.77%, France's CAC 40 rose 0.76%, while Germany's DAX 30 finished up 0.31%. Meanwhile, in the U.K. the FTSE 100 finished up 1.49%.

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Forex - GBP/USD down during the Asian session

Investing.com - The British Pound was lower against the U.S. Dollar on Sunday.

GBP/USD was trading at 1.5207, down 0.01% at time of writing.

The pair was likely to find support at 1.5166, Friday's low, and resistance at 1.5478, Tuesday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.02% to hit 0.8557 and GBP/JPY rising 0.22% to hit 151.13.

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Forex - USD/JPY up in Asian trade

Investing.com - The U.S. Dollar was higher against the Japanese Yen on Sunday.

USD/JPY was trading at 99.28, up 0.11% at time of writing.

The pair was likely to find support at 96.97, Tuesday's low, and resistance at 99.45, Friday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.03% to hit 1.3008 and GBP/USD falling 0.04% to hit 1.5203.

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Integrated Technologies sets floor price at Rs 3.25/sh for offer for sale

With reference to the earlier announcement dated June 25, 2013 regarding Notice of Offer for Sale of Shares by Promoter, Rajeev Bali ("the Seller"), the promoter of Integrated Technologies Limited has now informed BSE that the floor price per equity share offered for the sale of Integrated Technologies Ltd shall be Rs. 3.25 (Rupees Three and Twenty Five Paise only).Source : BSE

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Finolex Cables appoints D K Chhabria as executive chairman

Finolex Cables appoints D K Chhabria as executive chairman

Finolex Cables, at its annual general meeting, approved appointment of PP Chhabria as director, D K Chhabria as executive chairman, Mahesh Viswanathan as executive director & chief financial officer with effect from July 1.

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