Technology

Indian markets are expected to open flat tracking SGX Nifty.
Wall Street markets closed mostly higher with the SP hitting an intraday record for
the 7th time in a month. Gains in the tech sector led by Amazon and Google owner
Alphabet outweighed the losses in the Energy sector. Low Oil prices weak refining
margins cut 2Q profits at Exxon to 1.7bn from 4.2bn a year earlier. Exxon shares
fell 1.4%. Chevron shares climbed 0.7% despite reporting a 2Q loss 1.47bn its
largest loss since 2001. Sentiment was also hit by weakerthanexpected US growth
data. US economy grew at an annual pace of 1.2% in 2Q and the growth estimate
for the 1Q was also revised down.
After spending much of day behind London market scraped into positive territory at
close. FTSE 100 closed up 0.05% helped by strong shares in financial companies.
Barclays was the biggest winner with 5.5% gain followed by Standard Life and
Schroders which both added more than 3%. Barclays shares took off after the

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