SUMITOMO METAL MINING
These mid-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%, according to analysts
As an investor, what you need to do at this point of time is this: A bit of extra work in terms of stock-picking so that you avoid anxiety during future corrective phases in the market. And there should not be any doubt that, given the current geopolitical conditions, there will be many more corrective phases.
Global Market: Japan shares rally as US debt buybacks ease bond market concerns
Japan’s Nikkei rose 1% to 65,982.49 as falling global bond yields improved investor sentiment and revived risk appetite. U.S. Treasury plans to double long-duration debt buybacks helped ease borrowing-cost pressures. Gains broadened beyond AI and semiconductor stocks, led by Sumitomo Metal Mining, Sumitomo Pharma and Kansai Electric Power, while technology-related shares declined.
Global Market: Japan stocks muted as investors await US CPI report
Japan’s Nikkei traded largely sideways as investors awaited US CPI data for clues on the Federal Reserve’s interest-rate outlook, while Middle East tensions and concerns over shipping disruptions kept risk appetite in check.
Japan's Nikkei gauge trims 2025 surge as techs take a breather
Japan's Nikkei index saw a slight dip on Tuesday, with tech stocks leading the decline. Despite this, the Nikkei is on track for a significant annual gain, its third consecutive. SoftBank's acquisition news and a broader tech pullback from Wall Street contributed to the day's movements, though analysts suggest end-of-year adjustments are a key factor.
Japan's Nikkei climbs on Wall Street relief rally; tech shares slip
Japanese stocks surged on Friday, marking a third consecutive weekly gain, buoyed by positive Wall Street sentiment following a less hawkish US Federal Reserve. The Nikkei 225 closed higher, with the Topix reaching a record. Investors now await the Bank of Japan's policy decision next week, with caution expected early on. Tech stocks saw mixed performance, with some major decliners.
Adani's Kutch copper refinery to help cut reliance on imports: Mines ministry
India anticipates achieving self-sufficiency in refined copper by early 2025 with the Adani Kutch Copper Refinery reaching full capacity. Currently, India imports a significant amount of refined copper, primarily from Japan. Several Japanese smelters have applied for BIS certification to supply copper to the Indian market, ensuring sufficient supply during the transition.
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Most Japanese shares fall amid mixed earnings; oil stocks climb
Mazda Motor Corp lost 2.69% after the car-maker cut sales and profit guidance due to production constraints. Sumitomo Metal Mining Co plunged 11.73% after forecasting earnings far below analyst estimates, amid uncertainty over China's economy and metals prices.
Japan's Nikkei ends flat after ex-PM Shinzo Abe shot
Abe, best known for his signature "Abenomics" policy that featured bold monetary easing and fiscal spending, appeared to have been shot from behind by a man with a homemade gun.
Japanese shares end little changed; recession fears stoke volatility
"When global markets are facing rate increases and recession, Japan is positioned differently," said Shuji Hosoi, senior strategist at Daiwa Securities."The Bank of Japan decided to keep its monetary policy unchanged, and the economic activities have started picking up since the COVID-19 restrictions were lifted."The Nikkei share average was up 0.08% at 26,171.25 when markets closed, continuing to trade above the psychological 26,000 mark after having dipped as low as 25,520.23 on Monday.
Japanese shares track Wall Street gains, China worries cap rise
Fujitsu rose 2.17% after a report said the computer maker was weighing a sale of it scanning business to office equipment maker Ricoh, which fell 1.08%.
Nikkei slides as spiking COVID-19 cases sink retail, services shares
Retail conglomerate Aeon and cinema operator Toho were among the Nikkei's biggest losers, dropping 5.70% and 5.50% respectively. Uniqlo store operator Fast Retailing slumped 1.92%, making it the biggest decliner by index points.
Japan shares ride earnings to end higher, Delta worries linger
The Nikkei share average ended the day 0.24% higher at 27,888.15, after earlier marking a mid-July peak of 28,128.61.
Nikkei closes below 28,000 level for second day despite Wall Street boost
Like Monday, the Nikkei briefly traded above that level but pared gains before the close amid caution ahead of this week's Federal Reserve policy meeting and a pick-up in both the US and Japanese earnings seasons.
Copper set for smallest quarterly gain since March 2020
Three-month copper on the London Metal Exchange rose 0.4% to $9,375 a tonne by 0342 GMT and was up 6.7% for the quarter. It has lost 8.6% so far in June, on track for its first monthly fall in three.
Heavyweights pull Nikkei lower, Topix gains on drugmakers' boost
Nikkei inched down 0.2 per cent to close at 28,963.56, while the Topix edged up 0.1 per cent at 1,962.65.
Nikkei closes nearly unchanged as tech shares cap gains
Nikkei share average edged up 0.07 per cent to close at 29,642.69, after briefly retreating following a senior politician's comments on the possible cancellation of the Tokyo Olympics.
Nikkei, Topix hit multi-month peaks on receding trade fears
The Nikkei share average gained 0.8 per cent to 23,869.93.
CCI approves ArcelorMittal's acquisition of Essar Steel
ArcelorMittal and Numetal are in the race to acquire Essar, currently undergoing insolvency proceedings.
Nikkei ends flat, snaps 8-day rally on US-China trade war fears
The Nikkei gained 1.2 per cent for the week and 1.4 per cent for the month.
Nikkei rallies, draws support from China stimulus hopes
They have been among the worst hit by concern over a Sino-US trade war.
Vedanta unlikely to participate in rebidding of Essar Steel
Vedanta had submitted an Expression of Interest (EoI) for Essar Steel but did not bid for the bankrupt steel maker which owes over Rs 45,000 crore to its lenders.
Companies like Tata Steel and JSW Steel will benefit from captive iron ore supplies and rising domestic demand: Moody's
Despite the pressure on steel prices from imports, profitability of companies like Tata Steel and JSW Steel will remain the highest in the region.
Nickel comes off 27-month highs; copper recovers
London nickel slipped on Wednesday, losing steam after a rally of more than 15 per cent in three days, while London copper recovered towards two-month highs.
ArcelorMittal's Q1 net loss comes down to $0.205 billion
The company, headed by NRI billionaire Laxmi N Mittal, had clocked $0.345 billion net loss in the January-March quarter of the last year.
ArcelorMittal gets US antitrust nod for Thyssenkrupp deal
ArcelorMittal today said it has got clearance from the American anti-trust body for acquisition of Thyssenkrupp Steel USA.
Bhushan Steel plans to raise $500 mn
Bhushan Steel has decided to raise funds worth $500 million from the market to finance the company’s greenfield projects.
'Bhushan Steeel can touch Rs 1,800 levels in near term'
ET Now caught up with Ashit Suri, fundamental research analyst, JV Capital Services, to find out his outlook on Bhushan Steel.
Sumitomo JV heads to Karnataka
Steel venture looks to set up its second plant in the state.
Brazil steelmaker CSN sells part of iron ore mine
Brazilian steelmaker CSN says it has reached a deal to sell 40 percent of its Namisa iron ore mine to a consortium of Asian companies for US$3.1 billion.
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