9h ago
Muthoot Finance, Manappuram Finance climb up to 5% as MCX gold tops Rs 1.48 lakh/10 grams
Gold-related lenders including Muthoot Finance and Manappuram Finance rose about 5% as gold prices moved back above Rs 1.48 lakh per 10 grams. MCX gold futures for August gained around Rs 2,288 per 10 grams, or nearly 2%, to a high of Rs 1,48,046, while October contracts moved above Rs 1.5 lakh. International spot gold rose more than 1% after U.S. jobs data pointed to a cooling labour market and shifted expectations for the Federal Reserve’s next move.
9h ago
9h ago
Australia’s plan to build 1.2 million homes in five years falters as May approvals fall 1.1%
Australia’s target to deliver 1.2 million new homes in five years is losing momentum, with building approvals for new homes down 1.1% in May and apartment-related approvals plunging 10.4%, ABS data show. To meet the goal, the country would need to approve an average of 20,000 homes a month, a level it has not reached since May 2021. The target faces added headwinds from three recent interest-rate hikes, changes to housing and capital gains tax settings, and a 1.3% quarterly fall in prices, while CoreLogic data show national home values slipped 0.4% in June.
9h ago
9h ago
India’s state fuel retailers posted ₹74,781 crore in Q1 retail losses, Oil Minister Puri says
India’s oil minister Hardeep Singh Puri said state-run fuel retailers booked ₹74,781 crore in retail losses in Q1 as they continued to sell fuel made from higher-cost crude bought earlier. Brent was trading near $70 a barrel on Thursday, down 26% in a month and nearly 40% below its April high, but Puri gave no clear signal of an immediate retail price cut. He said a reduction is possible if crude prices remain steady for a while, according to Reuters. Puri also said no Indian refiner had directly exported petrol to Russia, though traders may have shipped Indian-made fuel there.
9h ago