The instant-service equipment operator confirmed its full-year profit guidance after trading recovered in May from a temporary drop in photobooth activity, particularly in France. The company's laundry division continues to show strong growth, securing a major new contract in the UK.
Goldman Sachs analysts argue that foreign investors, who are currently underweight Indian equities after a period of heavy selling, could drive the next market rally as macroeconomic conditions improve.
Bitcoin's price fell early Monday as escalating tensions between the U.S. and Iran prompted a flight from risk assets. The broader cryptocurrency market also declined amid concerns over rising oil prices and their potential impact on inflation and interest rates.
The U.S. dollar held steady on Monday following its sharpest decline since late April, with market attention now fixed on upcoming Federal Reserve meeting minutes for clues on monetary policy. Meanwhile, the Japanese yen continued to trade near a 40-year low, keeping traders on alert for potential government intervention.
The Bank of Israel delivered its second consecutive rate cut, lowering the benchmark rate by 25 basis points to 3.50% amid pressure to weaken the shekel and concerns from exporters.
The South African rand traded in a narrow range on Monday as investors looked to the upcoming release of U.S. Federal Reserve meeting minutes for clues on the direction of monetary policy. The currency's stability comes amid a light domestic economic calendar, leaving it sensitive to global market drivers.
Most Asian currencies fell against a strengthening U.S. dollar amid higher Treasury yields, while the Japanese yen found support from speculation that the nation's massive public pension fund could repatriate overseas assets.
The U.S. dollar edged lower as a drop in oil prices eased inflation concerns and traders interpreted minutes from the Federal Reserve's June meeting as less aggressive than previously feared.
Citigroup strategists anticipate sterling will weaken against the euro, citing a historical pattern of post-leadership change disappointment as a key catalyst.
