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The rupee weakened for a third consecutive session on Wednesday, falling below the 61 to the dollar mark for the first time in more than a month, hurt by good demand for the greenback from importers and by continued weakness in Asian currencies. Most emerging Asian currencies fell as the Chinese yuan extended its recent decline to a 16-month low, while the Indonesian rupiah touched its weakest level ...
Procter & Gamble Co, the world's largest household products maker, reported a higher quarterly profit on Wednesday, helped by an increase in sales of its home care products. Sales were unchanged at $20.6 billion. Organic sales, which exclude the impact of divestitures and acquisitions, rose 3 percent. Organic sales in P&G's fabric care and home care division, which generates almost one third of ...
Gold steadied on Wednesday above a 2-1/2 month low hit the previous session, as a softer tone to equities and the dollar helped arrest its slide above a key chart level, but demand from investors and retail buyers remained slack. Gold fell to its lowest since mid-February on Tuesday after U.S. housing data beat expectations, boosting confidence in the U.S. economic recovery and lifting stock markets, ...
Gold prices rose by Rs 190 to Rs 30,440 per ten grams at the bullion market on Wednesday following sustained buying by stockists on pick-up in seasonal demand amid firm global trend. Silver also rose by Rs 470 to Rs 43,300 per kg on increased offtake by industrial units and coin makers. Bullion merchants said sustained buying by stockists on the back of pick-up in seasonal demand and a firm global ...
At some point or the other in life, people face certain situations which make them wonder whether their financial life is heading in the right track or not. They become apprehensive about whether there is growth in the near future or they are standing on the verge of a great financial disaster. In case the financial life is in jeopardy, one needs to take charge of all their financial matters, while ...

Investors shy away from gold ETFs

2014-04-23 02:46:00

Gold exchange-traded funds (ETFs), once a popular investment vehicle among retail investors, seem to be losing appeal, going by the large-scale closure of folios and the continuous net outflows. In the past year, about a fifth of the accounts set up for investments in this product have seen closures. In the past, a slew of investors had made investments in gold ETFs, anticipating gold prices would ...
Economic growth may be slowing in China, and fears of a credit crunch there may be rife, but the world's second-largest economy was a driving force for US company profits in the last quarter. Some of the biggest names in Corporate America, including Coca-Cola Co, General Motors Co, United Technologies Corp and McDonald's Corp all in the past week reported strong results from their China operations. ...
The issue of Wonderla Holidays, which opened on Monday, was subscribed 98 cent a day before its closing. The initial public offering (IPO) will close on Wednesday. The price band has been fixed at Rs 115-125 a share. Before the IPO, the issue managed to mop up Rs 27 crore through three anchor investors at Rs 125 a share. ...
European shares fell on Wednesday, retracing some of the previous session's strong gains as investors responded to weak earnings from Ericsson and mixed data out of the euro zone. Shares in the Swedish mobile telecom equipment maker fell 4.9 percent, trimming the most points off of the FTSEurofirst 300, after missing first-quarter sales and profit forecasts on weak trading in North America. "Numbers ...
Shares in DLF, India's biggest real estate developer, fell 2.99 percent, sharply under-performing a 0.4 percent gain in the NSE index and posting their sixth decline in the past seven sessions. * Traders say DLF is being hit by perceptions of its ties with the ruling Congress party, which is trailing badly in polls ahead of elections concluding next month. * "I would say DLF has been falling on ...
COLOMBO, April 23 (Reuters) - Sri Lankan shares fell on Wednesday after five days of gains as investors booked profits in large caps despite moderate foreign inflows into the island nation's risky assets. The main stock index fell 0.31 percent, or 19.06 points, to 6,172.77, slipping from its highest close since Feb. 3 hit in the previous session. The day's loss erased around 8 billion rupees worth ...
COLOMBO, April 23 (Reuters) - The Sri Lankan rupee ended a tad firmer on Wednesday, recovering from early losses on dollar sales by exporters in late trade. Dealers expect the local currency to remain stable until imports pick up sharply. The spot rupee, which had hit a low of 130.64 per dollar earlier in the day on importer demand, closed at 130.60/61, firmer than Tuesday's close of 130.62/67. ...
COLOMBO, April 23 (Reuters) - Sri Lankan shares fell on Wednesday after five days of gains as investors booked profits in large caps despite moderate foreign inflows into the island nation's risky assets. The main stock index fell 0.31 percent, or 19.06 points, to 6,172.77, slipping from its highest close since Feb. 3 hit in the previous session. The day's loss erased around 8 billion rupees worth ...
COLOMBO, April 23 (Reuters) - The Sri Lankan rupee ended a tad firmer on Wednesday, recovering from early losses on dollar sales by exporters in late trade. Dealers expect the local currency to remain stable until imports pick up sharply. The spot rupee, which had hit a low of 130.64 per dollar earlier in the day on importer demand, closed at 130.60/61, firmer than Tuesday's close of 130.62/67. ...
* BSE index ends 0.52 pct higher; NSE index closes up 0.37 pct * Banks, capital goods stocks gain * Broader gains capped by continued profit-taking By Indulal PM MUMBAI, April 23 (Reuters) - Indian shares hit record highs for a third session in a row as infrastructure companies such as Larsen & Toubro extended recent gains while lenders including Yes Bank advanced on hopes the worst was over ...
General Motors Co filed a motion in a U.S. court to enforce a bar on lawsuits stemming from ignition defects in cars sold before its 2009 bankruptcy as it fights proposed class action litigation that seeks to set aside the restriction. Plaintiffs suing the company also filed a proposed class action lawsuit in Manhattan bankruptcy court on Monday, seeking an order declaring that GM cannot use the ...
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