EUR/USD 1.17062
-0.124%
Gold 4685.23
-1.160%
Oil 94.656
3.695%
USD/JPY 159.556
0.157%
GBP/USD 1.35134
-0.147%
GBP/JPY 215.617
-0.054%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Iranian Foreign Minister: Discussions in Oman included a focus on ways to ensure safe passage through the Strait of Hormuz.GFZ (German Geosciences Center): A 6.13-magnitude earthquake struck the Hokkaido region of Japan.Acting U.S. Attorney General Blanche: Its time to build a banquet hall.April 27th - As tensions in the Middle East push up oil prices, U.S. Treasury market traders are closely watching this weeks Federal Reserve meeting to assess officials views on the inflation outlook. The market widely expects the Fed to keep interest rates unchanged on Wednesday, but traders tend to believe a rate cut is still possible before the end of the year. Swap market data from Friday showed the probability of a rate cut before the end of the year has risen to around 40%. This development could pave the way for Kevin Warsh, Trumps nominee, to lead the Fed and implement more accommodative policies. Against this backdrop, traders will be listening closely for incumbent Chairman Powells remarks at the post-meeting press conference for an update on his plans after his term ends next May. Meanwhile, this week will also see a series of Treasury auctions, including 2-year and 5-year notes, to test market demand at current yield levels.According to a recent article by tech journalist Marc Gurman, Apples successor CEO John Tenus will officially take office on September 1st, followed by the release of the first foldable iPhone. This arrangement aims to establish Tenus as the face of this product line. The device focuses on durability and micro-crease technology, and is expected to cost over $2,000. In addition to the phone, Cook has also left behind approximately 10 new product pipelines, including AI smart home devices, AR glasses, and touchscreen Macs, to help him drive Apple into an unprecedented product expansion cycle during his new term.

MSCI Delays Weighting Adjustments For Two Adani Companies

Skylar Williams

Feb 16, 2023 10:50

微信截图_20230216103035.png


Index provider MSCI announced on Wednesday that it will delay the introduction of updated weightings for Adani Total Gas and Adani Transmission until the May benchmark review.


MSCI stated that the reversal of the modifications to Adani Total Gas and Adani Transmission in the February index review would be reflected in the MSCI Index Product files beginning on February 16.


Starting in February, MSCI will also apply a special treatment to all Adani Group-affiliated equities included in its Equity Indexes.


Adani did not react promptly to a comment request given outside of usual Indian business hours.


MSCI announced last week that it would reduce the weightings of four Adani Group firms, including Adani Enterprises, in its indexes after reevaluating the amount of freely traded shares.


The new index weightings were scheduled to take effect on March 1, however, the proposed modifications to Adani Total Gas and Adani Transmission have been deferred until May.


MSCI stated that "possible replicability concerns" motivated the decision. Its methodology requires indexes to be replicated "in a cost-effective manner in a real portfolio."


MSCI did not immediately respond to a request for comment from Reuters regarding why the changes were reversed quickly after their announcement last week.


Changes to the weightings of Adani Enterprises and ACC, a large Indian cement firm that the Adani Group purchased from Holcim (SIX:HOLN) last year, are still scheduled to occur.


MSCI investigated the level of free floats after concluding that there was "sufficient uncertainty" regarding certain Adani investors.


MSCI's decision followed a report published on January 24 by U.S. short seller Hindenburg Research, which accused the Indian giant of inappropriate use of offshore tax havens and stock manipulation. The organization has denied all wrongdoing.


The Hindenburg report has put Adani, led by billionaire Gautam Adani, into trouble, reducing the value of the group's companies by almost $120 billion.


According to a document seen by Reuters, Adani and two of its principal subsidiaries involved in a short-selling tempest in recent weeks will arrange calls with bond investors on February 16 and February 21.

Suggestion