 "10 things you need to know before the opening bell")
Global cues
The European Central Bank broke with precedent by declaring it would keep interest rates at record lows for an extended period and may yet cut further, responding to turbulence caused by the US Federal Reserve’s exit plan from money-printing. Less than two hours after the Bank of England gave a steer about future interest rate moves, ECB President Mario Draghi followed suit, abandoning the euro zone central bank’s customary insistence that it never precommits on policy. Draghi said the decision to issue ‘forward guidance’ was driven by market volatility, which took hold after the Fed last month set out a plan to begin slowing its stimulus. (Reuters)
US markets were shut yesterday. However, traders are nervous ahead of the release of the key US jobs data today.
Asian stocks rose on Friday, while the euro and sterling nursed losses after the two most important central banks in Europe surprised by assuring investors they were in no hurry to wind down stimulus. (Reuters)
[caption id=“attachment_930657” align=“alignleft” width=“380”]  The Bombay Stock Exchange. AFP.[/caption]
The US dollar sped higher on the euro and sterling on Friday after the ECB and BoE both blindsided markets with decidedly dovish policy guidance, leaving the Federal Reserve as the only major central bank with any inclination to rein back stimulus. (Reuters)
Gold eased on Thursday after European Central Bank chief Mario Draghi signalled it could cut interest rates further, pressuring the euro against the dollar, but moves were muted ahead of US jobs data. (Reuters)
Stocks in news
ITC, after the company said it has increased prices of its Gold Flake cigarette brand by over 7 percent.
Canara Bank, after the bank said it will cut base rate by 30 basis points and interest rate by 50 basis points on select fixed deposit maturities with effect from Monday.
BGR Energy, as the company kicks off its offer for sale of shares with a floor price of Rs 118 per share.
Strides Arcolab, after the company said its board has approved increasing FIl investment limit in the company to 74% from 49%.
Mangalore Chemicals and Fertilizers, after a Business Standard report that the Deepak Fertlizers, which bought about 24 percent in the company, is likely to approach Saroj Poddar to buy his 10 percent stake in it.
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