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Bloomberg Most stocks dropped and US futures retreated as investors focused on swelling coronavirus infections and tougher restrictions. After global equities hit an all-time high last week, sentiment has softened this week in the face of a worsening virus trends, with Hong Kong shutting gyms and New York warning that indoor dining might soon close. S&P 500 futures slipped 0.3% ...

Bloomberg India’s record-breaking equity rally will continue next year, with banks and other stocks taking over as drivers from the nation’s largest company Reliance Industries, some fund managers say. Reliance has accounted for nearly a fifth of the 75% surge in the S&P BSE Sensex from its March bottom, according to data compiled by Bloomberg. That’s about double the contribution ...

Bloomberg South Africa’s main stock benchmark index halted a five-day rally, dropping 0.1% by 9:45 am in Johannesburg and slipping from the highest close since April 2019, as a downturn in miners and weakness among banks pulls the market lower. The gauge joined peers in Asia in declining on Tuesday, as swelling coronavirus infections across the US weighed on risk ...

Bloomberg Oil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets. Crude futures were down 1.9% in New York, with the dollar trading higher and European stock markets declining. It follows a rally last week after Opec and its allies agreed to add 500,000 barrels a day of output from January to a ...

Bloomberg The Bank of Korea (BOK) is facing mounting pressure to broaden its mandate for the first time in nearly a decade as global central banks are asked to tackle a wider range of economic issues highlighted by the pandemic. More than a dozen South Korean lawmakers are pushing for the passage of a bill to add employment stability to ...

Bloomberg State Bank of India (SBI) will accelerate retail loans and expects most lenders to post stronger-than-anticipated earnings as the economy revives faster than expected, according to Chairman Dinesh Khara. “The banks were expecting worse, so they strengthened risk management significantly,” Khara, who took charge as head of the country’s largest lender in October, said in an interview with Bloomberg ...

Bloomberg UBS Group AG Chairman Axel Weber said that the bank doesn’t expect to combine any time soon with Credit Suisse Group AG because of recent executive changes at the two lenders and the time needed to undertake such a complex transaction. His comments follow an interview by Credit Suisse departing chairman, Urs Rohner at the weekend, who gave the ...

Bloomberg Societe Generale SA expects to cut annual costs by about 450 million euros ($545 million) by combining its French retail operations with its Credit du Nord subsidiary, as Chief Executive Officer Frederic Oudea seeks to bolster profitability. The number of branches in the merged division will fall by about 600 to 1,500 by 2025, the bank said in a ...

Bloomberg The fortunes of India’s shadow lenders have been improving amid early signs Asia’s third-largest economy is rebounding from an unprecedented recession. Two of four indicators compiled by Bloomberg that reflect the state of shadow banks strengthened last month from October. Shares of such firms that are part of the benchmark S&P BSE 500 index jumped two levels higher. The ...

Bloomberg The Bank of Japan (BOJ) has taken over as the biggest owner of the nation’s stocks, with the total value of its holdings climbing well above $400 billion. Massive exchange-traded fund purchases by the BOJ to support the market amid the pandemic this year combined with subsequent valuation gains pushed its Japanese equity portfolio to 45.1 trillion yen ($434 ...