Sensex sinks 634 points to end below 60,000-mark

PPG Industries Inc. Announces Increase In Q4 Income

PPG Industries Inc. (PPG) revealed a profit for its fourth quarter that increased from the same period last year

The company’s bottom line totaled $286 million, or $1.20 per share. This compares with $272 million, or $1.14 per share, in last year’s fourth quarter.

Excluding items, PPG Industries Inc. reported adjusted earnings of $298 million or $1.26 per share for the period.

The company’s revenue for the quarter rose 11.4% to $4.19 billion from $3.76 billion last year.

PPG Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $286 Mln. vs. $272 Mln. last year.
-EPS (Q4): $1.20 vs. $1.14 last year.
-Revenue (Q4): $4.19 Bln vs. $3.76 Bln last year.

Next quarter EPS guidance: $1.02 to $1.20

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European Economics Preview: UK GDP, Foreign Trade Data Due

Monthly GDP, foreign trade and industrial production from the UK and annual GDP data from Germany are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, foreign trade and industrial production data for November. Economists expect the economy to grow 0.4 percent on month, faster than the 0.1 percent increase in October.

The visible trade deficit is seen at GBP 14.2 billion in November versus -GBP 13.9 billion in October.

At 2.45 am ET, France statistical office Insee releases flash consumer price data. Inflation is forecast to match the flash estimate of 2.8 percent in December.

At 3.00 am ET, consumer price data is due from Hungary. Economists forecast inflation to ease to 7.2 percent in December from 7.4 percent in November.

In the meantime, final consumer price data is due from Spain. According to flash estimate, consumer price inflation rose to 6.7 percent in December from 5.5 percent in November.

At 3.30 am ET, Statistics Sweden publishes consumer price data for December. Economists expect inflation to climb to 3.8 percent from 3.3 percent in November.

At 4.00 am ET, Destatis is scheduled to issue Germany’s full year GDP growth for 2021. The economy is expected to grow 2.7 percent compared to a decline of 4.6 percent in 2020.

At 5.00 am ET, Eurostat is set to release euro area foreign trade data for November. The trade surplus totaled EUR 3.6 billion in October.

Rishi Sunak told to give £300 bonus to millions of Britons – ‘don’t over-complicate it!’

Martin Lewis warns of the threat of unaffordable energy bills

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Dr Bhattacharya’s belief is that cash payments of up to £500 would be the best answer to the cost of living crisis, allowing households to decide for themselves how to spend the money. Households where no one is a higher-rate taxpayer should get a cheque for £300, with an additional £200 for those on Universal Credit or legacy benefits, Dr Bhattacharya has suggested.

This is a breaking news story. More to follow…

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Sensex sinks 634 points to end below 60,000-mark

Flight of foreign capital from Indian markets affected the market sentiment

Falling for the third straight session, equity benchmark Sensex tumbled 634 points on Thursday to close below 60,000-mark, tracking losses in index majors Infosys, TCS and RIL amid a fresh sell-off in European markets.

The continued flight of foreign capital from Indian markets also affected the market sentiment, traders said.

The 30-share BSE index ended 634.20 points or 1.06% lower at 59,464.62. Similarly, the NSE Nifty plunged 181.40 points or 1.01% to 17,757.00.

Bajaj Finserv was the top loser in the Sensex pack, shedding 4.57%, followed by Infosys, TCS, Sun Pharma, HCL Tech, HUL, Dr Reddy’s, HDFC and Reliance Industries.

On the other hand, PowerGrid, Bharti Airtel, Asian Paints, Maruti and ICICI Bank were among the gainers.

Meanwhile, Asian Paints’ consolidated net profit fell 18.5% to ₹1,031.29 crore for the third quarter ended December 2021.

In other Asian markets, bourses in Hong Kong, Seoul and Tokyo ended with gains, while Shanghai closed in the red.

Stock exchanges in Europe were witnessing intense selling pressure in mid-session deals.

International oil benchmark Brent crude declined 1% to $87.56 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth ₹2,704.77 crore on Wednesday, according to stock exchange data.