Markets News

The European Union's executive said on Monday it was ready to propose a framework that could be used to aid Greece, despite signs of continuing reluctance from France and Germany to make concrete commitments.

U.S. stocks were set to slip at the open on Monday, weighed by persistent concerns over a possible monetary tightening in China that could slow the global recovery from recession.

Finance Minister Pranab Mukherjee said on Monday that private investment demand will drive 9 percent economic growth in the financial year 2011/12.

Apparel company Phillips-Van Heusen Corp said it will buy fashion brand Tommy Hilfiger in a cash and stock deal for about $3 billion in a bid to boost its presence in markets like Europe and Asia.

Concerns about monetary tightening in China and caution ahead of U.S. and Japanese central bank policy meetings this week weighed on financial markets on Monday, weakening stocks.

Dubai, which is gearing up to give creditors a plan on repaying $26 billion in debt, is not likely to need more help from the United Arab Emirates central bank, its governor was quoted as saying on Monday.

The rupee eased to its lowest in more than a week on Monday, as the dollar's rise against the euro triggered buying in the U.S. currency by importers.

Indian overnight cash rates closed little changed on Monday after having risen earlier in the session as banks borrowed funds to meet demand from corporates, who needed cash for making quarterly advance tax payments.

Euro zone finance ministers on Monday will look at how to give Greece financial aid should it ask for help, but there were signs France and Germany were holding out on making concrete commitments.

The BSE Sensex erased early losses and closed barely changed on Monday, after better quarterly corporate advance tax numbers erased losses triggered by weak world markets and higher domestic inflation data.

Oil fell below $81 a barrel on Monday, pressured by a strengthening dollar ahead economic data from the United States, an OPEC meeting this week and China's looming bank credit rate decision.

India gold futures may extend losses this week weighed by expectations of a strong dollar, with investors awaiting the Federal Reserve policy meeting decision and its views on the economy, analysts said.

Euro zone finance ministers are expected to agree a way of providing Greece with financial aid to tackle its debts on Monday, but France warned not to expect any hard figures and there remained barriers to a deal.

The government owned Life Insurance Corp of India (LIC) has paid 8.64 billion rupees ($189 million) as advance tax for the March quarter, compared with 8.1 billion rupees a year ago, an income tax department source said on Monday.

Citigroup said on Monday it named Keshav Sanghi as head of India equities, just two months after he joined the firm as head of sales and deputy head of equities for its Indian business.

UBS, under fire at home over executive compensation, paid top managers a total of 69 million Swiss francs ($65.2 million) in 2009, Switzerland's largest bank by assets said on Monday.

The BSE Sensex provisionally closed 0.05 percent higher on Monday, after better quarterly corporate advance tax numbers erased losses triggered by weak world markets and higher domestic inflation data.

Concerns about monetary tightening in China and caution ahead of U.S. and Japanese central bank policy meetings this week weighed on financial markets on Monday, weakening stocks.

Gold prices rose back above $1,100 an ounce in Europe on Monday as concern over sovereign debt fuelled buying of the precious metal as a haven from risk, with technical factors also supporting the market.