A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 13, 2021. Asian stock markets were mixed Wednesday after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump over last week's attack on the U.S. Capitol. (AP Photo/Koji Sasahara)(AP)
A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 13, 2021. Asian stock markets were mixed Wednesday after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump over last week's attack on the U.S. Capitol. (AP Photo/Koji Sasahara)(AP)

Stocks steady as traders eye historic Trump impeachment bid

Sentiment was capped also by worries about the surge in Covid-19 infections, which has caused several countries to reimpose lockdowns.
AFP
PUBLISHED ON JAN 13, 2021 08:38 PM IST

World markets were steady and the dollar rose against other major currencies Wednesday, with traders on edge ahead of the likely historic second impeachment of US President Donald Trump, dealers said.

Sentiment was capped also by worries about the surge in Covid-19 infections, which has caused several countries to reimpose lockdowns as they battle to roll out vaccines.

Wall Street opened with the Dow flat and the S&P 500 and Nasdaq Composite drifting higher.

In afternoon deals, London stocks edged 0.1 percent lower, while Frankfurt and Paris showed modest gains.

Shares crept higher in Asia earlier with hopes for another vast US virus relief package largely offset by the political upheaval in Washington.

Oil prices slid while bitcoin rose.

"The impeachment of President Trump looked a long shot over the weekend -- but if US press reports are to be believed, momentum appears to be building toward larger support within the Republican Party to impeach," noted MUFG economist Derek Halpenny.

"The shift is being fuelled by more violent footage of the attack on Capitol Hill last week -- with matters made worse by Trump's lack of remorse."

Democrats are pushing ahead with impeachment proceedings against Trump, who is accused of inciting last week's storming of the Capitol Building.

In response, Trump has warned of "tremendous anger" across the country, while there are concerns of further unrest ahead of Joe Biden's January 20 inauguration.

Trump's second impeachment could overshadow Biden's first few months in office and distract from his goal of pushing through a third rescue package for the US economy that he has said would be worth trillions of dollars.

"A lot changes in a week and that timeframe has taken Donald Trump from hoping to overturn his election loss -- to merely hoping he can remain in the White House for another week," said IG analyst Joshua Mahony.

In London, the British pound rallied as high as $1.3701, close to a 2.5-year peak, after Bank of England governor Andrew Bailey distanced himself from the idea of negative interest rates -- but he still warned Britain faced its "darkest hour" due to the virus fallout.

The Bank of England last year slashed its key interest rate to a record-low 0.1 percent as it sought to counter the impact from the coronavirus pandemic, sparking speculation it could even move into negative territory.

- Key figures around 1430 GMT -

London - FTSE 100: DOWN 0.1 percent at 6,747.26 points

Frankfurt - DAX 30: UP less than 0.1 percent at 13,935.26

Paris - CAC 40: UP 0.3 percent at 5,666.94

EURO STOXX 50: UP less than 0.1 percent at 3,614.15

New York - Dow: FLAT at 31,068.91

Tokyo - Nikkei 225: UP 1.0 percent at 28,456.59 (close)

Hong Kong - Hang Seng: DOWN 0.2 percent at 28,235.60 (close)

Shanghai - Composite: DOWN 0.3 percent at 3,598.65 (close)

Euro/dollar: DOWN at $1.2160 from $1.2207 at 2200 GMT

Dollar/yen: UP at 103.93 from 103.76 yen

Pound/dollar: DOWN at $1.3649 from $1.3664

Euro/pound: DOWN at 89.05 pence from 89.34 pence

West Texas Intermediate: DOWN 0.5 percent at $52.95 per barrel

Brent North Sea crude: DOWN 0.8 percent at $56.15 per barrel


SHARE THIS ARTICLE ON
app
Close
Reserve Bank of India (RBI) governor Shaktikanta Das also said that the current COVID-19 pandemic-related shock will place greater pressure on the balance sheets of banks in terms of non-performing assets, leading to erosion of capital.
Reserve Bank of India (RBI) governor Shaktikanta Das also said that the current COVID-19 pandemic-related shock will place greater pressure on the balance sheets of banks in terms of non-performing assets, leading to erosion of capital.

RBI policies helped ease severity of economic impact of Covid-19: RBI Guv

PTI, New Delhi
PUBLISHED ON JAN 16, 2021 02:50 PM IST
With the principal objective during the pandemic to support economic activity, Das said, "looking back, it is evident that our policies have helped in easing the severity of the economic impact of the pandemic".
Close
Reserve Bank of India (RBI) governor Shaktikanta Das also said that the current COVID-19 pandemic-related shock will place greater pressure on the balance sheets of banks in terms of non-performing assets, leading to erosion of capital.
Reserve Bank of India (RBI) governor Shaktikanta Das also said that the current COVID-19 pandemic-related shock will place greater pressure on the balance sheets of banks in terms of non-performing assets, leading to erosion of capital.

Open to examine proposal on bad banks: RBI governor Shaktikanta Das

ANI, New Delhi
PUBLISHED ON JAN 16, 2021 02:27 PM IST
Talking about the governance reforms Das said integrity and quality of governance are keys to good health and robustness of banks and non-banking financial companies (NBFCs).
Close
RBI Governor Shaktikanta Das addresses media conference, in Mumbai on Friday. (ANI Photo)
RBI Governor Shaktikanta Das addresses media conference, in Mumbai on Friday. (ANI Photo)

Need to support economic revival, financial stability: RBI Governor

PTI, Chennai
PUBLISHED ON JAN 16, 2021 02:23 PM IST
The regulated entities on their part need to strengthen their internal defences to identify emerging risks early and manage them effectively.
Close
RBI Governor Shaktikanta Das addresses media conference, in Mumbai on Friday. (ANI Photo)
RBI Governor Shaktikanta Das addresses media conference, in Mumbai on Friday. (ANI Photo)

Emerging markets need reserves as shock buffers, says RBI governor Das

Bloomberg
PUBLISHED ON JAN 16, 2021 01:03 PM IST
India’s rupee was Asia’s worst performer last year, as the central bank countered relentless foreign investment inflows with dollar purchases.
Close
Nomura said that in sync with the ongoing growth upcycle, the economy will enter a Goldilocks period in the coming months as inflation continues to moderate.(AP)
Nomura said that in sync with the ongoing growth upcycle, the economy will enter a Goldilocks period in the coming months as inflation continues to moderate.(AP)

Virus fears return to haunt markets

By Nasrin Sultana, Mumbai
PUBLISHED ON JAN 16, 2021 08:56 AM IST
The BSE Sensex fell 549.49 points, or 1.11%, to 49,034.67, while the Nifty shed 161.90 points to 14,433.70. Shares in other Asia-Pacific regions were mostly lower. South Korea’s Kospi fell the most at 2.03%, while Japan’s Nikkei shed 0.62% and the Topix index 0.89%.
Close
India’s third-largest software services company by revenue posted a profit of Rs.3,982 crore in the three months ended December 31, a 26.7% increase from the previous quarter,(Pradeep Gaur/Mint File Photo)
India’s third-largest software services company by revenue posted a profit of Rs.3,982 crore in the three months ended December 31, a 26.7% increase from the previous quarter,(Pradeep Gaur/Mint File Photo)

HCL Tech Dec qtr profit jumps 27% to Rs.3,982 crore

By Nandita Mathur, New Delhi
PUBLISHED ON JAN 16, 2021 08:55 AM IST
The strong performance prompted HCL Tech to lift its revenue forecast for the March quarter. It expects revenue during the quarter to grow 2-3% in constant currency terms, up from its previous estimate of 1.5-2.5%.
Close
Imports expanded 7.56% last month, the first time in 10 months, while exports grew 0.14%—leaving a trade deficit of $15.44 billion, according to data released by the commerce ministry on Friday.(Bloomberg)
Imports expanded 7.56% last month, the first time in 10 months, while exports grew 0.14%—leaving a trade deficit of $15.44 billion, according to data released by the commerce ministry on Friday.(Bloomberg)

India’s trade deficit at 25-month high in Dec

By HT Correspondent | Livemint, New Delhi
UPDATED ON JAN 16, 2021 04:33 AM IST
India’s merchandise trade had been weakening even before the pandemic hit the economy and external demand. Since March 2020, both exports and imports started declining in high double digits, even temporarily leading to a trade surplus in June for the first time in 18 years.
Close
Refunds issued are received within 20-45 days from the date of completion of processing of ITR by the Centralized Processing Centre (CPC).(HT FILE PHOTO )
Refunds issued are received within 20-45 days from the date of completion of processing of ITR by the Centralized Processing Centre (CPC).(HT FILE PHOTO )

How to check income tax refund status online. Read here

By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 15, 2021 11:37 PM IST
  • Income tax refund (ITR) status can be checked on the National Securities Depository Limited (NSDL) website as well as on the income tax department’s e-filing site.
Close
U.S. industry operated at 74.5per cent of capacity in December, still below the pre-pandemic rate of 76.9per cent in February.(Representative image)
U.S. industry operated at 74.5per cent of capacity in December, still below the pre-pandemic rate of 76.9per cent in February.(Representative image)

US industrial production jumps 1.6 per cent in December

AP
UPDATED ON JAN 15, 2021 11:19 PM IST
The December gain in industrial output followed a 0.5per cent increase in November and a 1 per cent increase in October, the Federal Reserve reported Friday.
Close
The Signal messaging app logo is seen on a smartphone, in front of the same displayed same logo, in this illustration. (REUTERS)
The Signal messaging app logo is seen on a smartphone, in front of the same displayed same logo, in this illustration. (REUTERS)

Signal sees global outage, company says 'working hard to restore service'

Written by Meenakshi Ray
UPDATED ON JAN 15, 2021 11:18 PM IST
Site status tracker DownDetector showed there were 2,167 reports about the issue as users reported they could open the app and send messages but were being delivered later.
Close
The Signal messaging app logo is seen on a smartphone.(REUTERS)
The Signal messaging app logo is seen on a smartphone.(REUTERS)

Messaging app Signal experiencing technical difficulties

Reuters
UPDATED ON JAN 15, 2021 10:48 PM IST
Signal has seen a rise in downloads following a controversial change in rival messaging app WhatsApp's privacy terms, which required WhatsApp users to share their data with both Facebook Inc and Instagram
Close
Bengaluru is also ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five.(PTI File)
Bengaluru is also ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five.(PTI File)

Bengaluru emerges as world’s fastest growing tech hub, London second: Report

PTI, London
PUBLISHED ON JAN 15, 2021 10:37 PM IST
The UK capital of London registered an impressive three times growth between 2016 and 2020, rising from USD 3.5 billion to USD 10.5 billion.
Close
The PIL said the ministries of commerce and finance control and regulate the export policies and decide as to under which Harmonized System (HS) Codes each good will be exported.(MINT ARCHIVE)
The PIL said the ministries of commerce and finance control and regulate the export policies and decide as to under which Harmonized System (HS) Codes each good will be exported.(MINT ARCHIVE)

SC asks Govt's, 61 firms' reply on PIL alleging duty evasion in iron ore exports

PTI, New Delhi
PUBLISHED ON JAN 15, 2021 09:39 PM IST
A bench headed by Chief Justice S A Bobde took note of submissions of lawyer and PIL petitioner ML Sharma that companies be prosecuted for alleged evasion of export duty by declaring wrong tariff code to export iron ore.
Close
PVR said even post reopening, the combination of staggered state wide reopening, capacity restrictions and limited movie releases impacted the admit levels while costs continue to be incurred.( Harsimar Pal Singh/Hindustan Times)
PVR said even post reopening, the combination of staggered state wide reopening, capacity restrictions and limited movie releases impacted the admit levels while costs continue to be incurred.( Harsimar Pal Singh/Hindustan Times)

PVR reports net loss of 49 crore in Q3

PTI, New Delhi
PUBLISHED ON JAN 15, 2021 09:03 PM IST
Revenue from operations during the period under review stood at 45.10 crore, down 95.04 per cent from 915.74 crore in the corresponding quarter a year ago.
Close
The regulator made it clear that carrying passengers as well as cargo in the passenger compartment at the same time is not allowed.(Representative image)
The regulator made it clear that carrying passengers as well as cargo in the passenger compartment at the same time is not allowed.(Representative image)

DGCA issues guidelines on carrying cargo in passenger compartment of aircraft

PTI, New Delhi
UPDATED ON JAN 15, 2021 07:44 PM IST
"Operator intending to carry cargo in passenger compartment shall apply to DGCA at least 10 days prior to the proposed commencement of operations," the regulator said in its guidelines.
Close
SHARE
Story Saved
OPEN APP