As if the recent spike in fuel prices was not enough, reports now suggest that fuel prices will rise by a few paise more. The Oil Ministry has increased the margins for the pump owners. The fuel bill could shoot up further if the much-anticipated diesel and LPG price hike materialises. Reports also suggest a possible duty rejig to cushion the blow to the consumers. The big question is when will the EGoM on fuel prices meet?
There appears less gain and more pain in the Street. The start today will be sluggish. At best we can see a minor recovery but the near-term prospects remain uncertain. Watch out for earnings from L&T, Jet Airways, Ashok Leyland and Tata Power.
Asian markets are mostly positive. US stocks snapped a three-day decline with technology pacing the rally. European stocks too closed higher. Japan’s economy shrank in Q1, but at a much faster pace than forecast, as the March natural disasters played havoc. Fed policymakers have indicated they are not in a hurry to withdraw stimulus. US crude is back at $100 a barrel. Gold and silver are up. The dollar has softened.
There appears less gain and more pain in the Street. The start today will be sluggish. At best we can see a minor recovery but the near-term prospects remain uncertain. Watch out for earnings from L&T, Jet Airways, Ashok Leyland and Tata Power.
Asian markets are mostly positive. US stocks snapped a three-day decline with technology pacing the rally. European stocks too closed higher. Japan’s economy shrank in Q1, but at a much faster pace than forecast, as the March natural disasters played havoc. Fed policymakers have indicated they are not in a hurry to withdraw stimulus. US crude is back at $100 a barrel. Gold and silver are up. The dollar has softened.
