MARKET EYE-India's L&T falls on brokerage downgrades
* Larsen & Toubro Ltd shares are down 1.7 percent after Citigroup and Barclays downgraded the engineering conglomerate on concerns over order cancellations and weak investment cycle. * Citi downgraded L&T to 'neutral' from 'buy' and cut its target price to 1,732 rupees from 1,855 rupees, citing cancellations in the second quarter of fiscal 2013, slow-moving orders, as well as weaker domestic economic growth. * Barclays downgraded L&T to 'equal-weight' from 'overweight' and cut target price to 1,750 rupees from 1,851 rupees. * The bank says it expects L&T to meet its fiscal 2013 guidance but cautions that weakness in the investment cycle in fiscal 2014 will post a risk to order estimates. (email@example.com; firstname.lastname@example.org)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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