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BENGALURU, Feb 1 (Reuters) - Indian equities rose and bond yields slipped ahead of the federal budget on Monday, where Finance Minister Nirmala Sitharaman is expected to unveil several measures to bolster the economy following the impact of the COVID-19 pandemic.
The ruling party of Asia’s third-largest economy has promised a game-changing budget to revive the virus-hit economy, with Sitharaman likely to increase spending by more than 15% in 2021-22, with an emphasis on infrastructure and healthcare, although the nation carries a mountain of debt.
There are also expectations that India will unveil some tax relief measures for pandemic-hit sectors such as real estate, aviation, tourism and automakers.
Indian bond yields jumped sharply on Monday after the government, in its annual budget presentation, announced plans to raise additional funds from the market over the next two months to bridge a deficit, even as shares rose on promises of reviving economic growth.
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(Reuters) - Oil producer Apache Corp APA.N and its joint venture partner Total SA TOTF.PA said on Thursday that they made their second significant oil discovery of the year in a closely watched area off the coast of South America s Suriname.
FILE PHOTO: The logo of French oil and gas company Total is seen in a petrol station in Paris, France February 6, 2020. REUTERS/Gonzalo Fuentes
Shares of Apache were trading more than 12% higher after surging nearly 21% at market open, on a day when oil stocks were generally stronger due to a recovery in global crude prices.
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(Reuters) - The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning brokerages and social-media traders it was on alert for any wrongdoing in this week’s roller-coaster trade.
GameStop shares rallied again, awarding retail investors the advantage in the latest round of their week-long slugfest against major financial institutions that had shorted the video game retailer.
The so-called “Reddit rally” has inflated stock prices for GameStop and other previously downtrodden companies that individual investors championed on social media forums such as Reddit’s Wallstreetbets, which has almost 6 million members.
Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.