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Palm oil rises on firmer rivals, higher Malaysian export estimates

VEGOILS-Palm oil rises on firmer rivals, higher Malaysian export estimates KUALA LUMPUR, July 16 (Reuters) - Malaysian palm oil futures rose on Tuesday, as stronger rival Dalian and Chicago contracts and higher export estimates underpinned the market. The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange gained 48 ringgit or 1.24%, to 3,922 ringgit ($838.57) a metric ton by 0247 GMT.
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India Morning Newsletter, July 16

India Morning Newsletter, July 16 (India Morning Newsletter will not be published on Wednesday, July 17, on account of the Moharram holiday) To access a PDF version of this newsletter, please click here If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage For an index o

Financial Times - July 16

PRESS DIGEST- Financial Times - July 16 July 16(Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - UK green taxes on electricity bills deter EV take-up, say energy suppliers - Boutique bank founded by Goldman dealmakers aims for UK expansion - Burberry replaces chief executive and warns on profits - Airbus and Thales explore space tie-up Overview - British power suppliers EDF Energy and Oc
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Palm oil rises on firmer rivals, higher Malaysian export estimates

VEGOILS-Palm oil rises on firmer rivals, higher Malaysian export estimates KUALA LUMPUR, July 16 (Reuters) - Malaysian palm oil futures rose on Tuesday, as stronger rival Dalian and Chicago contracts and higher export estimates underpinned the market. The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange gained 48 ringgit or 1.24%, to 3,922 ringgit ($838.57) a metric ton by 0247 GMT.
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In blow to Biden, Teamsters consider no endorsement in 2024 race

EXCLUSIVE-In blow to Biden, Teamsters consider no endorsement in 2024 race Adds Teamsters leader speaking at RNC, paragraphs 8-12 By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON, July 15 (Reuters) - President Joe Biden is on the brink of failing to win a key labor endorsement as leaders of the 1.3 million-member Teamsters union consider backing no candidate at all in the U.S.

Rupee pressed by weak Asia, supported by intervention hopes

INDIA RUPEE-Rupee pressed by weak Asia, supported by intervention hopes By Nimesh Vora MUMBAI, July 16 (Reuters) - The Indian rupee is expected to open largely unchanged on Tuesday despite a decline in Asian peers on expectations that the central bank will not allow the currency to drop to an all-time low. Non-deliverable forwards indicate the rupee INR=IN will open flat from 83.5925 in the previous session.

Australia's Spenda climbs on acquisition of finance platform Limepay

BUZZ-Australia's Spenda climbs on acquisition of finance platform Limepay ** Shares of Spenda SPX.AX rise as much as 21.4% to A$0.009, their highest since June 28 ** Stock posts its biggest intraday pct gain since June 28 ** Payments services firm says to buy commercial finance service provider Limepay for A$8 mln ($5.39 mln) in an all-scrip transa
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Beijing shuts train lines as rain arrives in China's north

Beijing shuts train lines as rain arrives in China's north BEIJING, July 16 (Reuters) - Beijing temporarily shut on Tuesday numerous train lines in the suburban areas around the Chinese capital after issuing an early warning for thunderstorms and flash floods as the country's north braces for stormy weather. Chinese authorities have placed the country's northern region on high alert for heavy rains since late Monday and agencies have taken measures to counter the impact of heavy rainfall that is

Australian gold stocks hit over 3-1/2-year high as bullion shines

BUZZ-Australian gold stocks hit over 3-1/2-year high as bullion shines ** Australian gold stocks .AXGD rise as much as 0.78%, their highest level since Nov 17, 2020 ** Gold prices rose on Tuesday as comments from Federal Reserve Chair Jerome Powell strengthened the case for a September rate cut GOL/ ** Gold miners Northern Star Resources NST.AX up

British Business - July 16

PRESS DIGEST-British Business - July 16 July 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - British luxury label Burberry BRBY.L has replaced Jonathan Akeroyd, its chief executive, with Joshua Schulman and axed its dividend after issuing the latest in a series of profit warnings.
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Rupiah, baht lead losses among weak Asian currencies

EMERGING MARKETS-Rupiah, baht lead losses among weak Asian currencies July 16 (Reuters) - The following table shows rates for Asian currencies against the dollar at 0218 GMT. Currency Latest bid Previous day Pct Move Japan yen 158.540 158.01 -0.33 Sing dlr 1.344 1.3437 -0.01 Taiwan dlr 32.622 32.572 -0.15 Korean won 1385.900 1383.2 -0.19 Baht 36.21
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US approaches Indonesia for multinational critical mineral partnership

UPDATE 1-US approaches Indonesia for multinational critical mineral partnership Adds statement from Indonesia's economic ministry in paragraph 11 JAKARTA, July 15 (Reuters) - The U.S. has approached Indonesia about joining a multinational partnership to boost the Southeast Asian nation's environmental standards as the two countries discuss a critical minerals deal, a senior U.S.

Asian shares fall as China drags, dollar in demand

GLOBAL MARKETS-Asian shares fall as China drags, dollar in demand By Stella Qiu SYDNEY, July 16 (Reuters) - Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean for China, while the dollar climbed for a second day even though dovish Fed comments fuelled bets of more U.S. rate cuts this year. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.5%, having eased 0.3% on Monday.
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Australia's Zelira Therapeutics climbs to over 7-month high on securing patents

BUZZ-Australia's Zelira Therapeutics climbs to over 7-month high on securing patents ** Shares of Zelira Therapeutics ZLD.AX rise as much as 25% to A$1, their highest since Dec 4, 2023 ** The biopharma co confirms it secured patents for HOPE 1 and HOPE 2 formulations from the Australian government's Commission of Patents and the U.S. Patent and Tra

Gold drifts higher as US rate cut optimism boosts appeal

PRECIOUS-Gold drifts higher as US rate cut optimism boosts appeal US retail sales data due at 1230 GMT Gold hit near two-month peak on Monday Adds comments and updates prices By Ashitha Shivaprasad July 16 (Reuters) - Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S.
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Australia's miners drop amid declines in copper prices

BUZZ-Australia's miners drop amid declines in copper prices ** Australian mining stocks .AXMM fall as much as 1.5%, their biggest intraday pct fall since July 8 ** Copper prices eased on Monday on weak demand prospects in top consumer China MET/L ** Rio Tinto RIO.AX fell as much as 2.6% to lowest since March 18, after the global mining giant record
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Musk plans to commit around $45 mln a month to new pro-Trump support committee, WSJ reports

UPDATE 1-Musk plans to commit around $45 mln a month to new pro-Trump support committee, WSJ reports Adds details, background WASHINGTON, July 15 (Reuters) - Billionaire Elon Musk has said he plans to commit around $45 million a month to a new pro-Trump super political-action committee, the Wall Street Journal reported on Monday, citing people familiar with the matter.

North Korea warns of 'devastating consequences' over leaflets from South

UPDATE 1-North Korea warns of 'devastating consequences' over leaflets from South Adds details and comments in paragaphs 2-3 SEOUL, July 16 (Reuters) - North Korea said on Tuesday that South Korea will face "devastating consequences" over anti-Pyongyang leaflets, state media KCNA said. Kim Yo Jong, North Korean leader Kim Jong Un's powerful sister and a senior party official, said large balloons carrying anti-Pyongyang leaflets from South Korea were found in her country, causing inconvenience to

Japan ready to take all possible FX steps, says top govt spokesperson

Japan ready to take all possible FX steps, says top govt spokesperson TOKYO, July 16 (Reuters) - Japanese authorities stand ready to take all possible measures in the currency market as excessively volatile moves are undesirable, Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday. Speaking at a regular news conference, Hayashi declined to comment on whether Japan intervened in the currency market to prop up the yen.

Japan futures extend losses on soft Chinese economic data

RUBBER-Japan futures extend losses on soft Chinese economic data SINGAPORE, July 16 (Reuters) - Japanese rubber futures fell for the third straight session on Tuesday, pressured by soft economic data from top consumer China, and weaker oil prices. The Osaka Exchange (OSE) rubber contract for December delivery JRUc6 , 0#2JRU: was down 6.7 yen, or 2.06%, at 318.2 yen ($2.01) per kg as of 0155 GMT.
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China's Harbin Electric hits 11-month peak on robust earnings estimate

BUZZ-China's Harbin Electric hits 11-month peak on robust earnings estimate ** Shares of Chinese power equipment manufacturer Harbin Electric Co Ltd 1133.HK jump 16.7% to HK$3, their highest since Aug. 4, 2023 ** Stock on course for the biggest one-day rise since Jan. 29, top gainer on the Hong Kong bourse ** Co expects its H1 net profit to jump to



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