Market Update

The number of active rigs drilling for crude oil in the United States declined this week, for the first time since March, despite rising oil prices encouraging a rise in production. Oil rigs decreased by a single rig to reach 343, while natural gas rigs maintained their level of last …

The dollar was confined to a tight trading range near a multi-week low against the major counterpart currencies Friday, April 23rd, as traders contemplate the next steps of major central banks ahead of a meeting of the US Federal Reserve next week. And the euro incurred losses after Christine Lagarde, …

The Egyptian presidency said in a statement that Egypt and Russia agreed to resume all flights between the two countries during a call between President Abdel Fattah El-Sisi and Vladimir Putin. “It was agreed to resume full air traffic between the airports of the two countries, including Hurghada and Sharm …

A survey revealed that the eurozone’s recovery from the pandemic-induced economic downturn was much stronger than expected in April as the bloc’s dominant service sector ignored renewed lockdowns and saw a sudden return to growth. As the continent faces a new wave of infections with the Coronavirus, governments have re-imposed …

Russia’s central bank announced on Friday that it hiked its policy rate by 50 basis point to 5%, compared to analysts’ estimate for an increase of 25 basis points.

Oil prices rose on Friday, April 23, boosted by hopes for a recovery in demand as global growth improves and lockdown measures eased, but concerns about a surge in second-wave COVID-19 infections in India dampen the gains. Brent crude futures rose 42 cents, or 0.6%, to $65.82 a barrel after …

European stocks are on the path of incurring their first weekly loss in eight weeks on Friday, April 23, as a surge in global coronavirus infections dashed the impact of strong earnings reports, while Madrid-based Olfendes shares jumped in its first trade in the Amsterdam market. The European Stoxx600 index …

Japanese stocks closed lower on Friday, April 23, as tighter government restrictions to contain COVID-19 infections raised concerns about the economy’s recovery, while disappointing expectations from nedec reinforced the cautious atmosphere at the start of the corporate earnings announcements season. The Nikkei index fell 0.57% to close at 29020.63 points, …

Japanese stocks closed lower on Friday, April 23, as tighter government restrictions to contain COVID-19 infections raised concerns about the economy’s recovery, while disappointing expectations from nedec reinforced the cautious atmosphere at the start of the corporate earnings announcements season. The Nikkei index fell 0.57% to close at 29020.63 points, …

The New York Stock Exchange (NYSE) declined on Thursday, closing on sharp losses that marked the worst daily performance on Wall Street since early March. News about U.S. President Joe Biden preparing a new proposal to tax the wealthiest Americans and raise the capital gains tax to fund public expenditure …