FTSE 100 slightly higher on telecommunication shares

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Source: Dukascopy Bank
British FTSE 100 index advanced on Wednesday driven by telecommunication sector but retreated and erased most of its gains during day as data showed UK budged deficit nearly doubled in February. Vodafone added 1.4% after Goldman Sachs reaffirmed its buy rating, while retailer J Sainsbury rallied 3.5% on strong fourth quarter sales. Main downside contribution came from resource stocks as Vedanta Resources fell 1.3% and BHP Billiton prolonged losses giving up 0.8%. At the moment of writing FTSE 100 index is 0.1% or 5.76 points up at 5,897.25.

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Wed, 21 Mar 2012 19:32:25 GMT

IMF: Crude oil to soar by 30% on the supply disruption

Crude oil is expected to surge by 30% in case the supply from Iran is halted, claimed Christine Lagarde. Brent crude oil may soar above 120 US Dollars per barrel after total Iranian oil embargo. Christine Lagarde also stressed that growing energy prices will create serious challenges for large oil importing countries as well as are likely to slow down

Wed, 21 Mar 2012 18:36:40 GMT

India's gold imports value to hit 100 billion US Dollars by 2015 on the doubled import tax

Indian value of the gold imports is likely to approach 100 billion US Dollars by 2015-2016, reported ASSOCHAM. However, the 4% import duty is not enough to fully control yellow metal's imports and further increase in gold's import tax have to introduced, the report added. Moreover, the India's government may launch public awareness campaign to direct the public savings to

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