2. Sensex up 0.9 per cent; Coal India leaps on
debut
Indian shares rose 0.9 percent in early trade on Thursday,
on an upbeat listing for Coal India, the country's largest
ever share offering, with strong Asian markets supporting
sentiment.
Shares in Coal India, the world's largest coal miner,
opened at 295.70 rupees compared with an issue price of
245 rupees, after the Indian government raised $3.4
billion.
The stock extended gains and was trading at 315 rupees.
The 50-share NSE index was up 0.8 percent at 6,210.70.
3. US dollar eases against rupee
MUMBAI: The US dollar eased against the rupee at Rs
44.35/36 per dollar, but the Pound Sterling turned higher at
Rs 71.52/54 per pound at the close of the Interbank Foreign
Exchange Market (Forex) here on Wednesday.
The following are the Interbank Forex and RBI rates: (In
Rupees Per Unit) Unit Interbank RBI Reference US Dollar
44.35/36 US Dollar Rs 44.36 Pound Sterling 71.52/54 Euro
Rs 62.11 Euro 62.29/31 Japanese Yen (100) 54.87/89.
4. Ford shares hit six-year high on strong
Oct sales
DETROIT: Ford Motor Co shares hit their highest level in
more than six years on Wednesday, after the company
reported stronger-than-expected October sales and showed
evidence that it is seizing market share.
So far this year, Ford is No. 2 in market share and sales in
the US having overtaken Toyota Motor Corp. General Motors
Co is ranked No. 1 in sales and market share in the US
market.
Shares of Ford rose as high as $15.20 on Wednesday. The
last time shares traded at that level was July 2004.
So far this year, Ford shares are up about 52 per cent, while
the S&P 500 is up 7.4 per cent. American depositary receipts
5. World economic recovery is slowing:
OECD
PARIS: The Organization for Economic Cooperation and
Development said on Wednesday the world economic
recovery has slowed and is cutting its forecast for growth in
developed countries in 2011.
The OECD issued a report Wednesday ahead of the Group
of 20 summit of rich and developing countries in South
Korea next week.
The watchdog group for 33 of the world's most developed
economies forecast 2010 growth for its members at
between 2.5 and 3 percent of gross domestic product _ a
wider range than in its previous forecast of 2.7 in June. It
also lowered its growth forecast for next year to 2 to 2.5
percent, down from 2.8 percent.
