Gold Silver Reports (GSR) – Axis Bank Stock Rebounds Despite Posting Surprise Loss In March Quarter – Shares of the Mumbai-based private sector lender rose as much as 5.88 percent, the most in over two months, to Rs 522.80. Axis Bank reported its first ever quarterly loss since listing as the bank accelerated recognition of bad loans, leading to a surge in provisions.
Stocks To Watch: Axis Bank, Thermax, Gati, IEX
Gold Silver Reports (GSR) – Stocks To Watch: Axis Bank, Thermax, Gati, IEX — The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.5 percent to 10,664.50 as of 7:15 a.m. Asian stocks climbed as the latest bout of earnings results buoyed sentiment in the technology sector and traders monitored a historic meeting between the leaders of North and South Korea.
U.S. May Become World’s Top Oil Exporter Next Year ; Citigroup Says
Gold Silver Reports (GSR) – U.S. May Become World’s Top Oil Exporter Next Year ; Citi Says — The U.S. looks likely to overtake Saudi Arabia to become the world’s biggest oil exporter next year, according to Citigroup Inc. With American production surging to unprecedented levels as OPEC continues curbing output, the U.S. is on course to be the top exporter of crude and oil products in 2019, Citigroup said in an April 25 note.
China’s Financial Opening Is No Gold Rush
Gold Silver Reports (GSR) – China’s Financial Opening Is No Gold Rush — This week, Beijing granted additional quotas for domestic funds to invest in overseas securities under the QDII plan, the first time it has done so in three years. At the same time, the government boosted permitted outbound institutional investment from Shanghai and Shenzhen. Meanwhile, Wall Street and other international banks are parsing draft rules on increasing stakes in securities joint ventures after China made good on a late 2017 pledge to ease restrictions.
Draghi Insists Outlook Is Solid as ECB Skirts QE Debate Again
Gold Silver Reports (GSR) – Draghi Insists Outlook Is Solid as ECB Skirts QE Debate Again — The Governing Council spent its two-day meeting assessing a raft of weaker economic data, the ECB president said at a news conference in Frankfurt. While acknowledging that momentum softened at the start of the year, he reaffirmed his confidence in the durability of the euro-area expansion.
Axis Bank Posts First Ever Loss As Bad Loans Pile Up
Gold Silver Reports (GSR) – Axis Bank Posts First Ever Loss As Bad Loans Pile Up — The private lender reported a net loss of Rs 2,188.7 crore in the January-March quarter compared with a profit of Rs 1,225 crore a year ago, according to its exchange filing. Analysts tracked by Bloomberg had estimated a Rs 663 crore profit. The bank also reported tax write-back of Rs 1,300 crore, without which the net loss would have been wider.
Why The Gold, Silver And Commodities Rally Was Crushed
Gold Silver Reports (GSR) – Why The Gold, Silver And Commodities Rally Was Crushed — Gold, silver, the base metals and crude oil were all soaring. But now, less than one week later, prices are falling sharply. And why?