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Latest News: Breaking/Live News Today, Latest News India, Politics News, Business/Stock Market News, Sports Updates, Bollywood News and Opinions - Firstpost.com

on September 20, 2012

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Latest News: Breaking/Live News Today, Latest News India, Politics News, Business/Stock Market News, Sports Updates, Bollywood News and Opinions - Firstpost.com:

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Will S&P's outlook upgrade lead to higher forex borrowing

Rating agency S&P has upped its outlook on India to stable from negative. Usually this means yields on Indian corporate bonds in the secondary market should move lower and Indian companies should be able to raise forex loans more cheaply. Will this S&P action lead to a flood of external commercial borrowings (ECBs) or forex loans? In an interview with CNBC-TV18, Anant Narayan, MD & Regional Head of Fixed Income and Currency Trading for South Asia for Stanchart and Gunit Chaddha, MD & CEO, Deutsche Bank discuss the significance of this latest upgrade in ratings. Below is a verbatim transcript of the interview. Also watch the Q: Did you see at all a fall in the yields of already trading corporate paper in the market? Narayan: The yields have been coming off over the last few days. Ever since the Budget, in fact, we have seen a contraction in the spreads and it has also been across the globe not just for India. But going forward, medium-term, this is definitely positive ne...

U.S. Equity Movers - BB&T, Eaton, Gannett, Lennar, Quicksilver:

Courtesy : Bloomberg Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 2 p.m. in New York. American International Group Inc. ( AIG :US) fell 17 percent to $1.34 and earlier retreated 19 percent, the most intraday since March 20. The insurer bailed out by the U.S. agreed to sell preferred stock and warrants for common shares to the government in return for access to $29.8 billion. AMR Corp. ( AMR :US) declined 11 percent to $4.66, the steepest intraday decline in three weeks. Alliances headed by United Airlines and American Airlines are being investigated by European Union regulators over concerns carriers within each group are illegally cooperating on trans-Atlantic routes and prices. ArcelorMittal (MT:US) slumped 13 percent to $25.39 for the biggest intraday loss since Feb. 23. The world’s largest steelmaker may cut the size of a planned steel plant in India by half and indefinitely defer a second ...

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