Indian stock-index futures surged and rupee forwards strengthened after India’s main opposition party won the most seats in four local polls held over the past month, giving it momentum ahead of a 2014 national election.
India’s benchmark stock index will climb as much as 6 percent to a record by year-end if state election results this weekend confirm gains by the nation’s main opposition party, according to a Bloomberg survey.
India’s rupee headed for its best week since October as the nation’s current-account deficit narrowed and on optimism the prospect of a win by the main opposition party in state elections will boost stock inflows.
U.S. and European stocks fell for a fifth day, gold slid and Treasury yields reached the highest level since September as improving economic data fueled bets the Federal Reserve will reduce stimulus. The euro rose as the central bank gave no sign it will start negative deposit rates.
U.S. stocks declined a fifth day, sending the Standard & Poor’s 500 Index to a two-week low, after improving economic data boosted bets the Federal Reserve will curb its monthly bond purchases sooner than estimated.
Ford Motor Co. Chief Executive Officer Alan Mulally will stay at the automaker through 2014, Director Edsel Ford II said today, reiterating the company’s timetable. Mulally said he loves serving the automaker.
Ford Motor Co., taking its 50-year old Mustang global for the first time, today unveiled a revamped muscle car boasting a sleeker look and optional smaller engine that will target the widest set of buyers ever.