Economic news

European stock markets gained substantially larger on Wednesday, buoyed up by positive news from the corporate sector. However, gains remained limited as concerns of the COVID-19 pandemic mounted. Germany’s DAX futures gained 0.1% at 3:40 AM ET (0740 GMT), while the U.K.’s FTSE index saw a climb of 0.4%. However, CAC futures in France lost […]

The dollar held on to gains against most peers on Wednesday as doubts about a COVID-19 vaccine and lack of an agreement on a U.S. stimulus aid urged investors to a safe-haven bid. The euro and the pound are expected to fall as Europe and Britain battle a second wave of the coronavirus, reimposing economic […]

Oil prices fell on Wednesday on fears that fuel demand will continue to decline as rising COVID-19 cases in the United States and Europe could stall economic growth. OPEC expects oil demand to increase by 6.54 million bpd to 96.84 million bpd in 2021, 80,000 bpd less than initially forecasted. Brent crude futures for December […]

On Wednesday, Atlantia’s (ATL.MI) shares went up by more than 10% after it entered exclusive talks with Cassa Depositi e Prestiti (CDP) over the sale of its motorway assets. According to a reliable source, Blackstone (BX.N) and Macquarie (MQG) would team up with CDP in a bid for Atlantia’s 88% stake in Autostrade per l’Italia. […]

On Wednesday, Walmart Inc. (WMT.N) announced that it would start its Black Friday promos beyond the usual one day period this year. The American multinational retail corporation said that consumers changed their spending habits after the coronavirus pandemic severely affected the retail industry. “Although this year’s event looks different, our commitment to what our customers […]

Asian shares had eased from a 2-1/2-year high on Wednesday. This followed after coronavirus vaccine trials were halted and as U.S. stimulus talks reached a deadlock, completely dragging investors’ sentiment. Meanwhile, oil declined on virus-beaten demand. MSCI’s broadest index of Asia-Pacific shares outside Japan ended its seven-day rally, tracking Wall Street’s subdued performance. The index […]

Singapore’s economy declined in the third quarter from a year ago. The drop came lower than what was initially predicted, preliminary data showed on Wednesday. On an annual basis, gross domestic product (GDP) recorded a 7% contraction from July to September. The reading released by the Ministry of Trade and Industry came sharper than the […]

The dollar stood at three-week lows on Tuesday as investors pin hopes on a big U.S. stimulus package after the presidential election, boosting risk currencies. The dollar index stood at 93.036, right above Friday’s near-three-week low of 92.997. The euro bought $1.1841 after gaining 0.6% on Monday. A Biden win in the U.S. presidency is […]

Oil prices steadied in early Tuesday trade, sitting on almost 3% of losses from the last session after production resumed in Norway and the U.S. Gulf and Libya reopened refineries in their largest oilfields. The output restart came as rising COVID-19 cases in the United States and Europe stirred worries about fuel demand growth.  OPEC […]

On Tuesday, Maersk (MAERSKb.CO) announced its plans to cut 2,000 jobs in order to reduce its production costs. However, the world’s largest container shipping line said that the global travel demand was recovering faster than expected while Maersk lifted its earnings outlook “A.P. Moller – Maersk is on track to deliver a strong Q3 with […]