Utility names lead FTSE 100 higher Despite the official news that the UK entered the worst recession on record in Q2, London-listed stocks soared yesterday, with the FTSE 100 adding 2%. That gain took the index to a three week high. Utilities stocks were among the biggest winners of the day, with Severn Trent, Pennon…
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Vaccine hopes hit big tech stocks that have benefited from lockdown economy All three major US stock indices fell on yesterday in a rocky trading session that saw stocks sold off sharply in the final few hours before the close. One factor that may have driven the sell-off is positive news on a Covid-19 vaccine,…
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Cineworld leaps on US takeover speculation Both the FTSE 100 and FTSE 250 started the week on a positive note, adding 0.3% and 0.6% respectively. In corporate news, Unilever hit headlines, after setting the weekend of November 21 and 22 as the date for the unification of its structure under a single parent company, headquartered…
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The Trump Administration issued two executive orders last week giving US companies 45 days’ notice to stop dealing with TikTok and WeChat, a Chinese messaging platform owned by Tencent. Trump alleges that the Chinese government has access to user data collected through the TikTok app. Trump said: It can’t be controlled, for security reasons, by…
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What to watch Barrick Gold: While the price of gold has soared from $1,500 an ounce at the start of the year to more than $2,000 now, many gold miners have ridden that wave to even greater heights, as the higher price greatly expands the profit margins they are able to generate. Barrick Gold, a…
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Many foreign banks reportedly started to preemptively refuse accounts of senior Hong Kong officials as early as the end of July. Local politician Bernard Chan, part of the cabinet that Hong Kong’s chief executive Carrie Lam said US banked closed his accounts. Closing of accounts is the first step of banks’ compliance with the US…
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EUROPEAN SHARES European shares are trading higher on Monday as hopes of a US stimulus package and strong macro data from China provided a fresh boost to bullish sentiment. Even if the recent battle between Republicans and Democrats over the new stimulus package scared some investors last week, the four new executive orders recently signed…
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What to watch US employment report: The US employment numbers during the coronavirus crisis have been essential reading for updates on the health of the economy. The latest employment report is different from jobless numbers reported yesterday in that it counts the number of people actively employed rather than those who are claiming social security…
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Global CFDs trading provider Trade360 announced its new online trading platform is now available for customers. The platform includes a host of new features and updated user interface. The new online trading platform features more then 100 technical indicators and charting instruments, as well as the ability to set a specific leverage for each position without the…
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Bristol Myers Squibb: New York-based pharmaceutical company Bristol-Myers Squibb reports earnings on Thursday, the day after securing a patent win for it and Pfizer, which have a profit sharing agreement on a blood-thinning drug. A judge found that products made by multiple firms had infringed upon the patents. BMQ stock surged 5% in after-hours trading…
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