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Bernanke points to reduced Fed bond buying this year
Federal Reserve Chairman Ben Bernanke says the U.S. central bank expects to slow the pace of its bond purchases later this year and bring them to a halt around mid-2014, comments that weighed on stocks and pushed bond yields to a 15-month high. Full Article | Instant view
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MARKET EYE-Tyre makers rally on fall in rubber prices
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Rahul Gandhi
The Congress lawmaker and scion of the Nehru-Gandhi dynasty turns 43 on Wednesday. Slideshow
* Shares of tyre makers including Apollo Tyres gained tracking a fall in the price of key raw material rubber, which constitutes nearly 40 percent of the tyre production cost. * Rubber futures have fallen 6.4 percent in previous five trading sessions. * Apollo Tyres is up 2.13 percent, Ceat Tyres gains 2.4 percent, MRF adds 4 percent, while JK Tyres & Industries rises 2.8 percent. * Rubber's peak production season has started in December and will continue till February. Carry forward stock of imports with tyre companies have risen after a drop in vehicle sales. (manoj.dharra@thomsonreuters.com/siddesh.mayenkar@thomsonreuter s.com)
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