Growth woes hit Sensex

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Growth woes hit Sensex Powered By Docstoc
					18   Gulf	Daily	News	Saturday,	19th	November	2011




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  Exchange Rates
                   CURRENCIES
                                                                               US economy gaining steam
                                                                               WASHINGTON: The US economy is                    with Bank of America Merrill Lynch in          vails make a US recession likely by mid-
 COUNTRY                                 SELL CASHSELL DRAFT                   gaining steam as factories churn out more        New York.                                      2012, although most Wall Street econo-
 AUSTRALIA	(Dollar)	                           0.3890	    0.3860
                                                                               cars and slowing inflation boosts spending         US industrial output rose last month by      mists are more optimistic and see odds
                                                                               power, putting the country on stronger           the most since July, helped by higher pro-     closer to one-in-three.
 BANGLADESH (Taka)                            0.00519    0.00495
                                                                               footing to resist an economic storm gather-      duction of motor vehicles and parts.              In the latest hopeful sign the US may be
 CANADA	(Dollar)	                              0.3767	    0.3727               ing over Europe.                                   A slowdown in inflation has also helped      able to hold recession at bay, US compa-
 CHINA	(Yuan)	                              0.061100	     0.0611                  Recent readings of the US economic            households regain a little spending power,     nies have cut back on layoffs substantially.
 DENMARK	                                      0.0714	          -              pulse have steadily topped analysts’ expec-      with weekly earnings rising in September       New claims for unemployment benefits
 EGYPT	(Pound)	                                0.0659	    0.0637               tations. Many now think the fourth quarter       and October when accounting for price          fell last week to their lowest level since
 EUROPEAN UNION (Euro)                         0.5165     0.5140               will prove stronger than the third, when the     changes. That has helped retail sales.         April.
 HONG	KONG	(Dollar)	                          0.04966	   0.04926               economy expanded at a 2.5 per cent annual          New car sales, for example, rose 7pc last       That could be a signal that employers are
                                                                               rate. Forecasting firm Macroeconomic             month to their highest level since February.   finally poised to ramp up hiring, which has
 INDIA (Rupee)                                0.00784    0.00753
                                                                               Advisers, for example, sees a growth rate        Sales will likely rise another 8pc in          been the missing piece in the country’s
 INDONESIA	(Rupiah)	                                 -	         -              of 3.2pc over the final three months of the      November, according to a forecast by J D       sluggish recovery from the 2007-2009
 IRAN	(Tuman)	                            0.00029753	           -              year.                                            Power and Associates and LMC                   recession.
 IRAQ	(Dinar)	                               0.000321	          -                 While a widely expected European              Automotive.                                       Still, it does seem that the US economy
 JAPAN	(Yen)	                                0.005050	  0.004980               recession will likely drag on the US econ-         “Could the US withstand a recession in       just can’t catch a break.
 JORDAN	(Dinar)	                                0.5354	    0.5350              omy next year, the US will be able to lean       Europe? I think we could,” General Motors         Growth was picking up this time last
 KOREA	(Won)	                             0.00038308                           into that headwind more than was possible        chief executive Dan Akerson told a forum       year and many analysts thought the econo-
 KUWAIT (Dinar)                                 1.3700      1.370
                                                                               just a few months ago.                           in Detroit. ”Consumer spending in this         my was turning a corner. Then a wave of
                                                                                  “There is enough momentum in the near         country is actually up.”                       civil unrest rippled through the Arab world,
 MALAYSIA	(Ringgit)	                         0.122500	     0.1225
                                                                               term to withstand some pain from over-             Researchers at the San Francisco Federal     pushing oil and petrol prices sharply higher
 MALTA	(Lira)	                                       -	         -              seas,” said Michelle Meyer, an economist         Reserve Bank recently said Europe’s tra-       and stinging American consumers.


                                                                                  Growth woes hit Sensex
 NEW	ZEALAND	(Dollar)	                          0.2941	    0.2931
 NORWAY	(Krone)	                                0.0673	         -
 N.	Yemen	(Riyal)	                                   -	         -
 NEPAL	(Rupee)	                               0.00538	   0.00471
 OMAN (Riyal)                                 0.98000    0.98300
                                                                                 MUMBAI: The BSE Sensex               ended August 7. This was its ended in the red.                     banks as collateral, with found-
 PAKISTAN (Rupee)                             0.00458    0.00436
                                                                                 fell 0.6 per cent yesterday, post-   third straight weekly decline.     The benchmark is down           ers of as many as 17 companies
 PHILIPPINES (Peso)                           0.00902    0.00870                 ing its biggest weekly fall in          “The sentiment is absolutely 20.2pc in 2011 and is among        pledging over 90pc of their
 QATAR (Riyal)                                0.10379    0.10374                 nearly three-and-a-half months,      pathetic, we are not seeing any the worst performing markets       holdings, Bank of America-
 SAUDI ARABIA (Riyal)                         0.10062	   0.10065                 as fresh concerns about the          sort of buying support,” said in the world. Foreign portfolio      Merrill Lynch had said in a
 SINGAPORE	                                     0.2951	    0.2941                European debt crisis com-            Ambareesh Baliga,                         investors have bought    June report.
 SOUTH	AFRICA	(Rand)	                         0.04830	   0.04820                 pounded lingering worries over       chief operating officer                   equities worth $571         “There is uncertainty about
 SRI LANKA (Rupee)                            0.00357    0.00346                 weak domestic growth and             at       Way2Wealth BOMBAY million so far this                     earnings going forward, input
 SWEDEN	(Krona)	                                0.0585	         -
                                                                                 slow government decision             Securities.                               year, sharply down       costs staying elevated and fis-
                                                                                 making.                                 “This can only                         from $29 billion they    cal deficit,” said K K Mital,
 SWITZERLAND	(Franc)	                           0.4190	    0.4160
                                                                                    Cigarette and consumer            come to a stop if large STOCKS invested in 2010.                   chief executive for portfolio
 SYRIA	(Pound)	                               0.07390	     0.0074                goods major ITC, and frontline       investors start buying,                      Analysts said sev-    management services at Globe
 TAIWAN	(Dollar)	                            0.013000	          -                banking and auto stocks con-         and one trigger for                       eral large- and mid-     Capital.
 THAILAND	(Baht)	                            0.012460	  0.012390                 tributed most to the losses as       that could be some major, mar- cap stocks were seeing selling         Concerns were heightened
 TURKEY	(Lira)	                                 0.2196	         -                investors expect growth to slow      ket-friendly announcements on account of worries about             after the Indian rupee skidded
 UK (Sterling)                                  0.6025     0.6000                in coming quarters given rising      from the government,” he said. high debt levels, a fall in the     beyond 51 against the dollar
 UAE (Dirham)                                0.102800   0.102800                 cost pressures, high interest           The main 30-share BSE rupee impacting foreign loans             earlier yesterday, to its lowest
 USA (Dollar)                                 0.37800    0.37800
                                                                                 rates and a slump in the rupee.      index fell 90.20 points, or and promoters facing pressure          in 32 months, weighed down by
                                                                                    The benchmark index fell          0.55pc, to 16,371.51 points, its on shares pledged with lenders.   rising oil import payments, and
 Rates are in Bahraini dinars at 17.00 local time, Thursday. Rates are           4.8pc for the week, its worst        lowest close in six weeks.         More than $33bn worth of        slowing exports and foreign
 indications only. For firm rates or for currencies not listed above             performance since the week           Eighteen of its components shares have been pledged with           inflows.
 please call Bahrain Financing Company. Telephone: 17228888,                                                                                                                                Cigarette and consumer
 Website: www.bfc.com.bh.
                                                                                                                                                                                         goods maker ITC, which has
 Gulf Interbank Rates                                                                                            D                                                                       seen strong gains in the past
                                                                                                                                                                                         two months, lost 2.9pc at
                                                                                                                 I                                                                       201.80 rupees – falling for the
                  1 US$         1 UK Stg        1 SFR         100 Yen
 BAHRAIN	         0.3770	         0.5964	       0.4125	        0.4909                                            L                                                                       second straight day.
                                                                                                                                                                                            Banking shares continued
 KUWAIT	          0.2855	         0.4517	       0.3124	        0.3717                                            B                                                                       their downward trend on wor-
 OMAN	            0.3849	         0.6089	       0.4211	        0.5012
 QATAR	           3.6420	         5.7616	       3.9847	        4.7422                                            E                                                                       ries that rising slippages and
                                                                                                                                                                                         provisioning due to high inter-
 UAE              3.6730	         5.8107	       4.0186	        4.7826                                            R                                                                       est rates would impact earnings
 SAUDI	           3.7500	         5.9325	       4.1028	        4.8828
                                                                                                                 T                                                                       in coming quarters.
           Dollar
            Currency
            Euro	
            Yen		
                                 November 18
                                     $1.3518	
                                       76.94	
                                                             Previous
                                                              $1.3520
                                                                76.95
                                                                                                               SHIPPING
            Swiss	francs	             0.9160	                  0.9164
            Canadian	dollars	         1.0258	                  1.0227          Almoayed Wilhelmsen                                                     APL	London	          APL	due	from	Dammam	December	29
            Pound	                    1.5780	                  1.5795          Imports                                                                 Dilmun Shipping Agency
                                                                               Sagamore	          OOCL	due	from	Europe,	US,	Far	East	today             TS	Qingdao	          Emirates	due	from	Far	East	tomorrow
                                                                               Sima	Paya	         OOCL	due	from	Europe,	US,	Far	East	tomorrow          Cosco	Fukuyama	      Misc	due	from	Far	East	November	23
Oil                                                                            Maersk	Phuket	
                                                                               Winter	D	
                                                                                                  OOCL	due	from	Europe,	US,	Far	East	tomorrow
                                                                                                  OOCL	due	from	Europe,	US,	Far	East	November	21
                                                                                                                                                       CSCL	Asia	
                                                                                                                                                       TS	Singapore	
                                                                                                                                                                            CSCL	due	from	Far	East	November	25
                                                                                                                                                                            Emirates	due	from	Far	East	November	27
                                                                               HS	Bruckner	       NVOCC	due	from	Europe,	US,	Far	East	Nove	21          Bunga	Raya	Tiga	     Misc	due	from	Far	East	November	29
Oil delivery prices (in dollars per barrel)                                    Maria	TH	          EURIPOS	due	from	Australia	November	23               Gulf Agency Company
                                                                   Nov 18      Hoegh	America	     WWL/NMT	due	from	Europe,	US,	Jebel	Ali	Nov	24        Aphrodite	Leader	    NYK-CAR	due	from	Far	East	tomorrow
                                                                   (close)     Maersk	Phuket	     OOCL	due	from	Europe,	US,	Far	East	November	27       Pucon	               CSAV/NOR	due	from	Europe	November	22
IPE	Brent	                                                        $107.56			   Sima	Paya	         OOCL	due	from	Europe,	US,	Far	East	November	28       Positive	Leader	     NYK-CAR	due	from	Far	East	November	23
                                                                               Evikos	Theo	       BHP	due	from	Australia	November	30                   Sheng	Shi	           NYK-CAR	due	from	Far	East	November	24
Nymex	crude	                                                       $97.41	     APL	Precision	     OOCL	due	from	Europe,	US,	Far	East	December	1        Hyundai	Confidence	 NYK	due	from	Far	East	November	24
                                                                               Orient	Tide	       Samsung	due	from	due	from	Australia	December	1       Chaiten	             CSAV/NOR	due	from	Far	East	November	24
GOLD                                                                           Maersk	Phuket	
                                                                               Sima	Paya	
                                                                                                  OOCL	due	from	Europe,	US,	Far	East	December	4
                                                                                                  OOCL	due	from	Europe,	US,	Far	East	December	11
                                                                                                                                                       Hanjin	Breberhaven	 NYK	due	from	Far	East	November	26
                                                                                                                                                       MSC	Maureen	         CSAV/NOR	due	from	Europe	November	28
                                                                               Maersk	Phuket	     OOCL	due	from	Europe,	US,	Far	East	December	18       CSAV	Cantabrian	     CSAV/NOR	due	from	Far	East	November	30
Gold bars                  Selling
    Rates are in Bahrain Dinars        Metal Prices                            Exports
                                                                               Bux	Crown	         OOCL	to		Far	East,	China,	Southeast	Asia,	Inter	
                                                                                                                                                       Maersk, Kanoo
                                                                                                                                                       Maersk	Phuket	       Maersk	due	from	Jebel	Ali	tomorrow
8gm	coin	22k	             163.000                                              	                  Gulf	tomorrow                                        Maersk	Phuket	       Maersk	due	from	Jebel	Ali	November	27
8gm	coin	21k	             156.000      LONDON MARKETS                          Winter	D	          OOCL	to		Far	East,	China,	Southeast	Asia,	Inter	     National Shipping
1gm	(24	carat)	            24.000      Gold	(per	ounce)	        $1,724.20      	                  Gulf	November	21                                     Third	Ocean	         HDSL	due	from	Euorpe/	Mediterranean	today
2.5gm	                     57.250      Silver	(per	ounce)	         $32.01      Bux	Crown	         OOCL	to		Far	East,	China,	Southeast	Asia,	Inter	     Silver	Zone	         HDSL	due	from	Euorpe/	Mediterranean	today
5gm	                      110.500      Palladium	                 $603.72      	                  Gulf	November	28                                     MSC	Batrice	         MSC	due	from	Euorpe/	Mediterranean	November	21
10gm	                     216.500      Platinum	                $1,588.30      Alsharif Group                                                          MSC	Madeleine	       MSC	due	from	Euorpe/	Mediterranean	November	21
20gm	                     429.500       (Three-month delivery)                 TS	Qingdao	        TS	Line	due	from	Far	East	tomorrow                   Hope	                MSC	due	from	Far	East	November	21
50gm	                   1,066.000      Aluminium	($	per	tonne)	 2,110.00       Winter	            Hanjin	due	from	Far	East	November	21                 AS	Poseidon	         MSC	due	from	Inter	Gulf	November	21
100gm	                  2,123.750      Copper	($	per	tonne)	     7,525.00      Hanjin	Shenzhen	   Hanjin	due	from	Far	East	November	21                 YM	North	            YML	due	from	Far	East	November	21
1	ounce	                  665.000      Lead	(per	tonne)	       $	2,059.00      Deira	             Hanjin	due	from	US	November	21                       Cosco	Korea	         Cosco	due	from	Far	East	November	25
1	tola	                   251.500      Nickel	(per	tonne)	   $	17,655.00       Hanjin	Belawan	    Hanjin	due	from	Inter	Gulf	November	21               Palmary	             HDSL	due	from	Euorpe/	Mediterranean	November	26
5	tola	                 1,240.750      Tin	(per	tonne)	      $	21,275.00       TS	Singapore	      TS	Line	due	from	Far	East	November	27                Parmis	              HDSL	due	from	Euorpe/	Mediterranean	November	26
10	tola	                2,465.750      Zinc	(per	tonne)	       $	1,965.00      APL, Bahrain                                                            MSC	La	Spezia	       MSC	due	from	Euorpe/	Mediterranean	November	28
1kg	                   21,049.750                                              APL	Portugal	      APL	due	from	Dammam	November	24                      Yusuf Bin Ahmed Kanoo
1kg	silver	               412.250      Bombay                                  APL	Tokyo	         APL	due	from	Dammam	November	27                      Maersk	Wave	         Hoegh,	Europe	due	from	Doha	tomorrow
1/2kg	silver	             207.750      Gold	24K	(per	gram)	 Rs2,917.00         APL	Precision	     APL	due	from	Dammam	December	1                       APL	Portugal	        MOL	due	from	Dammam	November	24
                                       Gold	22K	(per	gram)	 Rs2,737.00         APL	Tokyo	         APL	due	from	Dammam	December	8                       Hoegh	America	       Hoegh	US	due	from	Dammam	November	25
   • Courtesy Bahrain Express          Gold	(10g)	           Rs28,965.00       APL	Paradise	      APL	due	from	Dammam	December	15                      Alliance	Charleston	 Hoegh	US	due	from	Karachi	November	26
    Exchange Tel: 17-275-275           Silver	(1kg)	         Rs57,325.00       MOL	Priority	      APL	due	from	Dammam	December	22                      APL	Precision	       MOL	due	from	Dammam	December	1

				
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posted:11/23/2011
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