Global equities News

While the price-to-earnings ratio for the market is high, it is not expensive compared to global equities but that is taken care of by the corporate scorecard in Q2 which was one of the best in three years with aggregate earnings seeing no cuts, the Swiss brokerage Credit Suisse said today without offering a Sensex or Nifty target for 2018.

U.S. traders appeared to shrug off the first charges related to a probe of possible Russian interference in last year`s U.S. election.

Gold prices were down by Rs 46 to Rs 28,697 per 10 grams in futures trade today as participants cut down their holdings, largely in line with a weak trend overseas.

The biggest rout in Chinese shares in eight years stoked concerns on Monday over slowing growth in the world`s No. 2 economy, knocking down global equities and the prices of key commodities.

Crude oil tumbled on Friday, knocking down both energy-related shares and currencies after OPEC`s decision a day earlier not to cut output reinforced prospects of a worldwide oil supply glut.

Goldman Sachs downgraded its global equities allocation to neutral on a short-term basis on Friday, even though the brokerage remains overweight stocks for the longer term.