Thinner trading volumes heading into the Christmas holidays could exacerbate market swings, leaving strategists reluctant to read much into day-to-day gyrations during the period. Markets continue to be shadowed by escalating mobility curbs to fight omicron and a diminishing stimulus tailwind.
European shares inch up, food delivery stocks jump
European shares edged higher on Wednesday led by gains in food delivery stocks even as worries persisted about the outlook for global recovery amid an increase in COVID-19 cases due to the Omicron variant.
The British capital’s benchmark FTSE 100 index of major blue-chip companies dipped 0.1% to 7,287.19 points, compared with Tuesday’s close.
In the eurozone, the Paris CAC 40 index increased 0.3% to 6,983.27 points and Frankfurt’s DAX rose 0.2% to 15,481.33.
Just Eat Takeaway.com rose 5.1% after the food delivery firm announced a deal with One Stop, a British convenience store chain owned by Tesco, to handle orders and deliveries on its platform.
India’s curb on futures trade threatens food supply chain: Reuters
India’s year-long suspension of futures trading in key farm commodities is crimping the use of risk management tools such as hedging across its food supply chain, spurring inventory cuts as forward purchases get scaled back.
Monday’s halt, targeting items such as soybeans, edible oils, wheat, rice, and chickpeas as authorities move to cool rising inflation, was one of India’s most dramatic steps since it launched commodity futures in 2003.
But the ban on access to futures contracts may fuel volatility in domestic markets by denying traders the tools crucial to planning decisions, forcing them to cut stocks, delay long-term purchases and sales, and even limit imports.
AngelOne partners with Vakrangee Digital Ventures
Not engaged with Invesco as matter Sub Judice. Non-compete fee is 2.11%, which is negotiated for, says Zee’s Punit Goenka: CNBC TV18
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ABB India to sell its Turbocharger Business to wholly-owned subsidiary for ₹310 cr on slump sale basis: BSE filing
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Read More: Sensex up 300 pts, Nifty eyes 16,900; auto, metals advance