Home >market >stock-market-news >Opening Bell 11 March | Global markets gain on improving US job market

Mumbai: A strong employment report from the US is leading to buying in equity markets across the globe. Employment rose 236,000 in February. Economists surveyed by Bloomberg projected a gain of 165,000.

While the jobless rate dropped to 7.7%, the better than expected rise in payrolls has further strengthened investors’ belief that the world’s largest economy is on a recovery path. Japan’s Nikkei gained 0.83% to 12,385.

The report has also sent the US markets higher. Over the weekend, the S&P 500 gained 0.45% to 1,551. Read the Bloomberg report.

Back home, the government is planning to give a big push to overseas investments in India. According to The Economic Times, the government is likely to increase the foreign direct investment limits for various sectors.

The United Nations aviation watchdog has expressed concerns over India’s air safety. The International Civil Aviation Organization completed an audit of the Directorate General of Civil Aviation and found it wanting in its ability to oversee safety issues. Read the Mint report.

Mahindra & Mahindra Ltd may witness some action. The company is recalling its XUV500 sport utility vehicles to replace three parts - the fluid hose, the front power window units and the left wiper blade cover. Read more.

The World Bank has barred Larsen & Toubro Ltd from doing any business with it for six months. The development comes after an executive of the company forged documents to win a contract. Read more. Larsen & Toubro, in a statement, said the sanctions may not have material impact on the company’s finances.

Coal India Ltd may also witness some action. According to The Economic Times, the director general of the Competition Commission of India has reported that the company used its monopoly to arm-twist customers.

As part of a plan to deploy extra cash, investment bankers have suggested to Cairn India Ltd to acquire the UK based Cairn Energy, reports Business Standard. Cairn Energy has production blocks and a 10% stake in Cairn India.

GMR Infrastructure Ltd is on a restructuring mode. After selling its stake in a Singapore power plant, the company is reportedly looking to sell its five star hotel at the Hyderabad airport. The sale, if materialises, will help the company pare debt.

Amtek Auto Ltd may be in the limelight. The group is close to acquiring an auto component manufacturer in Germany, reports The Economic Times. According to the report, the target company is a market leader in development and production of transmissions, engines and drivelines.

Keep an eye on Nalco Ltd. An inter-ministerial panel is likely to decide on Monday the floor price for a 12.5% stake sale in the company. The share sale is likely to fetch the government around 1,400 crore at current rates. Read more.

Finally, hedge funds reduced their bets on a commodity rally to four-year low, reports Bloomberg. According to the report, funds are selling commodities on signs of surplus supplies.

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