As businesses take stock of strategy and goals at the half-year mark and Q3 officially kicks-in let’s take a look at some events coming up this week. The start of each quarter is marked by large investors usually rebalancing their portfolios.
- India Nikkei manufacturing PMI, or Purchasing Managers’ Index, for June to be on released on Monday. It fell to 51.2 in May from 51.6 the preceding month.
- Services PMI will be declared on Wednesday. It dropped to 49.6 in May from 51.4 the previous month.
- Auto companies to report its monthly sales for June.
- Trump’s threat of imposing 20% tariff on all cars imported by the US from EU (assembled in EU).
- Caixin China Manufacturing PMI and US ISM PMI data for June will be released on Monday
- U.S. ISM non-manufacturing PMI for June expected on Thursday.
- The Federal Open Market Committee (FOMC) will release the minutes from its June 12-13 policy meeting on Thursday.
- US non-farm payrolls and unemployment data for June to be released on Friday.
- Fine Organic Industries to be listed on exchanges today. Issue price of Rs 783 per share.
- RITES to be listed on exchanges today. Issue price of Rs 185 per share.
Crude oil prices rose when US sent out a message, to trading partners, to its follow the sanctions against Iran. If crude from Iran is not bought by countries including India, it will lead to a tightening of supply. OPEC and Russia have said they will raise output to meet demand.