data kept the bulls largely in charge ahead of next week’s slate of top central bank meetings.
Add in a rise in oil prices but also a near 16-month low in European gas prices - and the recent huge shifts in the Japanese yen and China’s COVID restrictions - and it was a mixed picture to say the least. Seven listed companies of the Adani conglomerate - controlled by one of the world’s richest men Gautam Adani - have lost a combined $45 billion in market capitalization since Wednesday, casting serious doubt on the company’s record $2.45 billion share sale plan.“There were heavy positions in Adani group , the way they have risen in the last couple of years,” said Neeraj Dewan, director at Quantum Securities in New Delhi.
A separate report showed that labour market remains tight and could lead the Fed to keep interest rates higher for longer. Data on U.S. personal consumption expenditures due at 1330 GMT will provide further clues on inflation.
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