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Thursday, March 19, 2009

Stock Market News, Financial News - Mar 19, 2009

India adds 13.45 m mobile users in Feb - TRAI

NEW DELHI (Reuters) - Indian mobile firms added 13.45 million subscribers in February, a performance bettered only by January's record signings of 15.41 million, data from the telecoms regulator showed on Thursday.

The country's mobile subscriber base rose to 375.74 million at end-February, the Telecom Regulatory Authority of India said, rising 3.7 percent from January.  (More ...)

India, China agree to remove irritants in trade

Financial Express

China, concerned over recent six-month ban by India on its toy exports on health and safety grounds, has called for boosting and diversifying the bilateral trade between the two countries. It has agreed to give India more market access. 

India-China bilateral trade during 2007-08 was to the tune of $37.9 billion with the balance tilted in favour of China. India's exports amounted to $10.8 billion while its imports were $27.1 billion.  (More ...)

Tata Motors ties up with Indian Bank for retail finance

India's largest auto maker, Tata Motors, on Thursday said it has tied up with public sector lender Indian Bank for providing financing facilities to its passenger vehicle customers.

"In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Indian bank for financing its range of passenger vehicles," the company said in a statement.  (More ...)

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ADVFN World Daily Markets Bulletin (excerpts)

US Stocks at a Glance

Major Averages Turning In A Mixed Performance

Stocks have come off their highs in mid-morning trading on Thursday and are showing significant uncertainty as investors respond to mixed news from the economic and corporate fronts. The major averages are currently turning in a mixed performance.

The uncertainty follows a late day rally in the previous session, when investors benefited from a positive reaction to the Federal Reserve's plan to buy treasury notes and mortgage-related assets, driving a sharp upward move in late day trading.

European Shares

London’s advance is growing in strength, despite expectations of a weak opening on Wall Street. Financials lead the advance, supported by miners, on hopes that the US programme of quantitative easing will boost the world’s major economy.

In a move mirroring recent actions by the Bank of England, the US central bank said it would move to buy treasury notes with maturity dates of between two to 10 years to “help improve conditions in private credit markets.”

Asia Markets

Asian markets end mixed; Financials advance on U.S initiative to unclog credit markets

Mixed trading was witnessed among the major markets in Asia-Pacific region on Thursday, with markets in Japan, Taiwan and South Korea drifting lower while markets in Australia, China, Singapore, Hong Kong, Malaysia and Indonesia ended higher.

In Asian trading, crude oil advanced $0.87 a barrel to $49.01 in electronic trading, after closed down $1.02 at $48.14 a barrel on the New York Mercantile Exchange on Wednesday.

Commodities

Gold Surges More Than $50 An Ounce

Gold soared in early trading Thursday amid recession fears on Federal Reserve's plan to buy as much as $1.15 trillion in bonds. The metal surged in electronic trading following the announcement Wednesday afternoon.

April-dated gold moved to $948.00, up $58.90 for the session. The metal hit as high as $951.90 in electronic transactions.

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