Market Update

European stocks rose to new highs, after a series of deals and strong business results from Europe’s largest bank HSBC, while sentiment was also supported by the recovery of Asian stocks. The pan-European Stoxx 600 index rose 0.8 percent to an all-time high of 465 points in early trading. British …

Oil prices fell Monday, August 2nd on concerns about the Chinese economy, after a survey showed that factory activity growth fell sharply in the world’s second-largest oil consumer, as well as heightened concerns about an increase in oil production from OPEC producers. Brent crude futures fell 74 cents, or 1%, …

Japan shares closed higher, thanks to encouraging results from shipping companies and others in cyclical sectors, reducing the impact of fears of a mutated delta strain of the fast-spreading Corona virus that threatens the recovery The Nikkei index closed up 1.82 percent at 27,781.02 points, erasing losses on Friday, when …

HSBC’s profit, before tax, jumped to $10.8 billion in the first half of 2021, topping analysts’ estimates of $9.45 billion. While the bank’s revenues decreased in the same period by 4% to $25.6 billion, compared to the same period last year. Analysts had expected the bank to announce a big …

President of the Federal Reserve Bank of St. Louis, James Bullard, believes the United States Federal Reserve should take a decision about tapering the massive asset purchases in September and begin the process during the first quarter of next year. Bullard believes that monetary policymakers need to consider the possibility …

The main indices of the New York Stock Exchange (NYSE) finished lower on Friday, registering a weekly decline but maintaining monthly gains in July, with Wall Street investors worried about the spread of Coronavirus Delta variant, despite the positive earnings reports by some of the market’s major listed companies. The …

Oil prices finished higher on Friday, extending their weekly and monthly increases, amid expectations for tight supply over the coming months, with a recovery in the demand in the market. Brent crude futures gained 28 cents, or 0.37%, to settle at $76.33 per barrel. The global benchmark crude front-month contract …

The European Union has imposed a huge fine on Amazon.com due to violating data protection rules. The e-commerce giant will have to pay a record $886.6 million for processing personal data in violation of the EU’s General Data Protection Regulation (GDPR). A ruling was issued by the Luxembourg National Commission …

Gold prices declined on Friday, as the U.S. Dollar (USD) rebounded from its recent losses, but the yellow metal was able to maintain the key $1,800 level by the end of the week to register weekly gains. Front month futures closed lower by $18.60 or 1.02% at $1812.60 per ounce. …

Europe’s stocks declined on Friday, retreating after closing Thursday’s trading session at a new all-time high, following the release of inflation data and more earnings reports. The STOXX Europe 600 Index lost 2.10 points or 0.45% and closed at 461.74 points. Travel and leisure stocks led today’s decline and plunged …