UK reports 29 COVID-19 deaths, 2,166 new cases
LONDON (Reuters) – Britain reported 29 deaths within 28 days of a positive COVID-19 test on Wednesday, up from 17 a day earlier, according to government data.
There were 2,166 new cases reported on Wednesday, down from 2,685 on Tuesday, while the number who had received the first dose of a vaccine rose to 33,959,908.
‘FPIs likely to withdraw $3-4 bn in short term’
Pandemic risks heavy outflows: UBS
Foreign portfolio investors (FPIs) have pulled out $2 billion from Indian equities as they are getting fidgety amid surging pandemic case loads and are likely to withdraw $3-4 billion more in the short-term, foreign brokerage warns.
FPIs had pumped in a record $39 billion in FY21.
Owning $555 billion of the $2-trillion domestic equities, FPIs are the biggest market-makers and market-breakers in the domestic equity market.
Between September 2020 and March 2021, their marker ownership jumped by a whopping $105 billion. At $39 billion of net investments in FY21, FPIs have surpassed their own records in FY10 and FY13 by a wide margin.
With valuations/EPS estimate stretched by 5-10% and the risks to growth outlook rising amid the pandemic, equity investors’ positioning is a concern, Swiss brokerage UBS Securities said in a note on Wednesday.
The report further said in the past five weeks alone, FPIs have pulled out $2 billion and going by the weekly median of $3 million rolling inflows, they are on course to pull out $3-4 billion more in the short-term.
Oil rises as global outlook offsets worries over India
‘Demand may increase in second half ’
Oil prices rose on Wednesday as expectations of rising fuel demand offset concerns about the impact of a surge in India’s coronavirus cases and higher U.S. crude inventories.
Brent crude futures were up 67 cents, or 1.01%, to $67.09 a barrel at 1352 GMT, after rising 1.2% on Tuesday.
An OPEC+ decision to stick to plans for a phased easing of oil production restrictions from May to July underscored the group’s confidence in a recovery in global demand.
“The market is supported by the general belief that the COVID endgame is in sight,” Tamas Varga, analyst at PVM Oil associates, said. “The market clearly thinks that these extra barrels will be easily accommodated as global consumption picks up in [second half of] 2021,” he added.
Goldman Sachs said on Wednesday it expected “the biggest jump in oil demand ever, a 5.2 million barrels per day rise over the next six months” as vaccination campaigns accelerate in Europe and demand for travel climbs.
Bajaj Finserv shares climb 4% as net jumps fourfold
Lender posts Q4 profit of ₹979 crore
Shares of Bajaj Finserv Ltd. (BFL) on Wednesday gained 4% after the company reported a more than fourfold jump in consolidated net profit for the fourth quarter ended in March 2021.
The stock jumped 4.03% to close at ₹10,491.65 on the BSE. During the day, it rallied 5.25% to ₹10,615.95, a 52-week high.
On the NSE, the stock gained 3.94% to ₹10,489.30.
Bajaj Finserv Ltd. (BFL) on Wednesday reported a more than four-fold jump in its consolidated net profit to ₹979 crore for the fourth quarter ended in March 2021, driven by its insurance business.
The company had posted a net profit of ₹194 crore during the corresponding January-March period of 2019-20.
The total consolidated income during the March 2021 quarter increased to ₹15,387 crore as against ₹13,294 crore in the corresponding period of the previous financial year, Bajaj Finserv said in a regulatory filing.
Options traders bet on a big post-earnings move in Apple
Options traders are betting on fireworks when the results of this week's marquee big tech earnings report cross the wire.
Apple has had a volatile start to 2021, swinging around quite a bit en route to its current year-to-date gains of just 1%, and many traders are expecting another big shift after the bell Wednesday.
"Right now, the options market is implying a move of about 5% after [Apple reports]. That, too, is consistent with the 4.7% the company has averaged over the past eight reported quarters. The most active options were the weekly 135-strike calls. Over 43,500 of those calls traded for about $2.60,"Michael Khouw, chief investment officer at Optimize Advisors, said Tuesday on CNBC's "Fast Money."
Those calls expire this Friday at a break-even stock price of $137.60, or 2% higher than where Apple closed Tuesday's session. That's well within the realm of possibility given Apple's post-earnings history and its current implied move, but it wasn't the only popular bet to make in Tuesday's session.
"The 135-puts, which also expire on Friday, were the second most active [contract]. Those were trading for about $2.90. Interestingly, it was mostly retail flows on the call buying, and it was mostly institutional flows on the put buying," said Khouw.
Apple was trading modestly lower in Wednesday's session.
DC FanDome Event Sets Date For 2021 Edition
There will be a second edition of DC FanDome after its successful launch last August, with DC Comics and Warner Bros saying Wednesday that DC FanDome: A Global Experience is set for October 16.
The first edition came after much of the entertainment industry’s in-person events were shuttered over the past year because of the pandemic. That included Comic-Con in San Diego, a vital stop for comic and genre fare.
August’s event, livestreamed and available to the public, featured eight hours of panels, previews and more spanning DC’s film, TV and comics universe that were available for streaming over a 24-hour period. Highlights included Zack Snyder discussing his Justice League director’s cut, Robert Pattinson’s debut as Batman, and sneak previews of James Gunn’s Suicide Squad and Patty Jenkins’ Wonder Woman 1984.
Jason Isaacs, Kaley Cuoco, Michael Rooker, Robin Wright, Viola Davis, Will Arnett and Aisha Tyler were also among the names taking part.
Organizers said the 2020 event garnered more than 22 million views overall and reached 220 countries and territories.