(Morning News Call - India edition will not be published on Friday, April 19, as markets are closed for Good Friday) To access a PDF version of this newsletter, please click here http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_04182019.pdf If you would like to receive this newsletter via email, please register at: http://financial-risk-solutions.thomsonreuters.info/india-morning FACTORS TO WATCH No events are scheduled for the day.
LIVECHAT - BONDS UPDATE Reuters interest rate reporters delve into the government bond markets at 4:30 pm IST. To join the conversation, click on the link: https://www.refinitiv.com/en/products/eikon-trading-software/eikon-messenger-secure-messaging/editorial-communities-financial-forums INDIA TOP NEWS • Jet Airways lenders "reasonably hopeful" of successful bids for grounded airline Lenders to Jet Airways said they are "reasonably hopeful" that the bidding process for the grounded airline will end successfully.
• Indians begin voting in second phase of mammoth general election Voters across swaths of southern India began queueing up early in the second phase of a mammoth, staggered general election in which opposition parties are trying to stop Prime Minister Narendra Modi from winning a second term.
• Five million lost jobs in India between 2016 and 2018 - report At least five million Indians lost their jobs between 2016 and 2018, and young urban men are being hit hardest, a Bengaluru-based private university said in a report on Tuesday.
• Aramco in talks to buy stake in refining business of Reliance Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake of at least 20 percent in the refining and petrochemicals businesses of Reliance Industries, sources familiar with the matter said on Wednesday.
• Reliance Industries in talks to buy British toymaker Hamleys - Moneycontrol Reliance Industries is in talks to buy British toy store chain Hamleys, business news website Moneycontrol reported on Wednesday citing multiple sources, as the Indian conglomerate seeks to expand its footprint in the consumer space.
• Wipro misses fourth-quarter profit estimates Indian software services exporter Wipro missed analyst estimates for fourth-quarter profit on Tuesday, partly hurt by a rise in expenses and forecast weak growth at its biggest business segment.
• Indian refiners turn to OPEC, Mexico, U.S. to make up Iran oil gap Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said.
GLOBAL TOP NEWS • Japan April manufacturing contraction slows but export slump deepens - Flash PMI Japanese manufacturing activity contracted at a slightly slower pace in April thanks to a pick up in hiring, but new export orders fell at the fastest pace in almost three years in a sign slow global demand remains a major pressure point for the economy.
Japan's Aso to travel to U.S. April 25 for meeting with Mnuchin - source Japanese Finance Minister Taro Aso will travel to the United States on April 25 to meet Treasury Secretary Steven Mnuchin on the sidelines of a summit between Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump, a source said.
Amazon to close domestic marketplace business in China -sources Amazon.com plans to close its domestic marketplace in China by mid-July, people familiar with the matter told Reuters, focusing efforts on more lucrative businesses selling overseas goods and cloud services in the world's most populous nation.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were little changed at 11,846.50, from its previous close.
• The Indian rupee is expected to open higher against the dollar after robust economic data boosted the Chinese yuan to near nine-month highs.
• Indian government bonds will likely open lower tracking an uptick in U.S. Treasury yields and as crude oil prices stay elevated.The yield on the benchmark 7.26 percent bond maturing in 2029 is likely to trade in a range of 7.37 percent-7.42 percent band till the auction result today, a trader with a private bank said.
GLOBAL MARKETS • U.S. stocks ended slightly lower on Wednesday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.
• Asian shares slipped after losses on Wall Street but trade was subdued as investors awaited business surveys in Europe and largely stayed on the sidelines ahead of the long Easter weekend holiday.
• The euro was buoyant after more evidence of strength in China improved the outlook for the global economy, with the market looking next to European indicators to provide the currency with a further boost.
• U.S. Treasury yields drifted lower from four-week highs on Wednesday, as Wall Street shares lost steam in a holiday-shortened week and investors got back in the market after a recent sell-off.
• Oil prices dropped as the impact of plentiful U.S. production offset a surprise decline in U.S. inventories, leaving international benchmark Brent retreating from a five-month high touched in the previous session.
• Gold prices touched their lowest this year, and were on course for a fourth straight weekly decline, as recent economic data drove investors towards riskier assets, with traders eyeing clues to gauge the health of global economy.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 69.64/69.67 April 16 $149.71 mln $47.91 mln 10-yr bond yield 7.4 pct Month-to-date $2.07 bln -$1.52 bln Year-to-date $8.91 bln -$1.97 bln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 69.4 Indian rupees) (Compiled by Swathi Nair in Bengaluru)