Global markets at a glance

Asian shares swung higher on Thursday as weak U.S.
growth seemed to further delay the day when interest
rates might rise, pulling down bond yields globally and
pushing investors toward riskier assets in a desperate
search for returns.
European shares fell on Wednesday, with utility GDF Suez
a standout loser, as traders cited fears that violence in
Iraq will escalate further as a cue for investors to cash in
on last month's equity rally. The pan-European FTSEuro-
first 300 index ended down by 1.1 percent at 1,372.04
points, marking its lowest level in around three weeks.

Wall Street Update

US stocks rose on Wednesday, led by drugmakers, while
a Supreme Court ruling lifted the shares of major broadcasters. The Dow Jones industrial average rose 49.38
points or 0.29 percent, to 16,867.51. The S&P 500 gained
9.55 points or 0.49 percent, to 1,959.53. The Nasdaq
Composite added 29.40 points or 0.68 percent, to
4,379.76.

MACRO NEWS

ICRA wants revision in urea pricing.
Competition Commission dismisses charges of unfair
trade practices by Wipro.
Cabinet Committee on Economic Affairs (CCEA) defers
decision on gas pricing by 3 months.
In a setback to gas producers like Reliance Industries, the
government today postponed revision in natural gas
prices by three months pending a "comprehensive" re-
view to make a controversial pricing formula more palatable.
Hailing the central bank’s move to permit non banking
finance companies will enhance the financial inclusion
programme.

STOCKS IN NEWS

AMW Motors ties up with Larsen & Toubro Finance for
vehicle loans
Sebi has ordered a close scrutiny on the AstraZeneca
India delisting.
HDFC BANK in discussion with govt government for
raising FII investment limit.
L&T Infra Finance -To raise Rs 400 crore via private
placement of NCDs.

COMMODITY ROUNDUP

Gold in Singapore held on to small overnight gains on
Thursday to trade near a two-month high, supported by
safe-haven bids from weak data on U.S. economic growth
and a softer dollar. Spot gold was little changed at
$1,319.20 an ounce by 0008 GMT, after rising 0.1 percent in
the previous session. The U.S. economy contracted at a
much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded
strongly.

CURRENCY ROUNDUP

The dollar index .DXY fell as far as 80.091, a low not seen
since May 22, while the euro bounced to $1.3627 EUR. Sterling climbed to $1.6984 from a one-week low of $1.6952,
while the Australian dollar popped back above 94 U.S. Cents
from $0.9354. The lower dollar helped gold up to $1,318.75
an ounce, from a low of $1,310.36 on Wednesday.

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