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Friday, May 23, 2008

OIL HITS A HIGH OF 135 AND SLIPS



Light sweet crude for July delivery shed 72 cents to trade at $132.45 a barrel on the New York Mercantile Exchange after trading as high as $133.75. The contract gained $9.32 between May 15 and May 21.
July crude surged to a record high of $135.09 during the overnight electronic trading session on Globex.

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News Flash from IndiaEarnings

Saraswat Bk seeks RBI nod to acquire ailing South Ind Co Bk
Telekom Malaysia to pick up addl 15% stake in Idea: Srcs
Hind Rectifiers brd meet on June 24 to consider bonus issue
Inflation will touch double digit mark next week: I-Sec
NY Times in talks to buy 5% stake in Deccan Chron Arm
Inflation for wk ended Apr5 revised to 7.71% vs 7.14%earlier
Inflation for week ended May 31 at 8.75% vs 8.24%
Indian economy won't be as badly hit as the global eco:DCB
Over a period of time mkt may drift down to 4060 :Atul Suri
Shriram Cap likely seller in Shriram City Un Fin block deal
Shriram City Union Fin changes 12.2% Eq via block deal
No big rally in mkt till oil pices cool off: Lehman Bros
BoJ keeps key interest rate unchanged at 0.5%
J&K Bank raises Prime Lending Rates by 100 bps to 14%
L&T aays plan to list IT sdubsidiary in FY09
IFCI okays initiation of legal process to align LIC stk
Rupee opens at 42.82/USD vs 42.84/USD on Thursday
Karnataka Bank board approves 1:5 rights issue at Rs 100/sh
45.37 lakh Suzlon shr change hands on BSE at Rs 250.95/sh
Oil India plans to launch IPO by Sep: NW18
ABG Shipyard bags order worth Rs 127 Cr
Nutrient base pricing is good for industry:RCF
FM says avg prc of complex fert to decline by Rs 1416/t
Deccan Chronicle likely to place Sieger Eq at EV of USD750 m
BNP Paribas see 25 bps CRR hike before RBI July policy
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