Market Update

Oil prices rose by about 1%, after major crude producers showed that they were curbing supplies in nearly line with their commitments, to continue gains in a market confused by weak demand during the Coronavirus pandemic. Brent crude rose 48 cents, equivalent to 0.9%, to $ 56.83 a barrel, gaining …

European stocks rallied as investors hoped for a faster-moving economic recovery, while technology stocks led the gains after French information technology advisory group Atos ended talks on a possible acquisition of US rival DXC Technology. Atos shares gained 5% after the company said it decided not to continue talks about …

Russia’s production of oil and gas condensate increased to 10.16 million barrels per day in January from 10.04 million barrels per day in December, according to Reuters calculations based on an Interfax report that was based on data from the Energy Ministry. The news agency reported that production of oil …

Japanese stocks closed higher for the second session in a row, recovering from the heavy sales witnessed last week, as optimism about local and US corporate earnings grew, boosting sentiment. The Nikkei index rose 0.97% to 28,362.17 points, while stocks of consumer goods, materials and real estate industries led the …

Silver futures rose on Monday and closed at a level not seen since 2013, on the back of strong demand that is attributed to retail traders on the social media platform Reddit. Reddit users through WallStreetBets were able to recently lead huge demand for stocks such as GameStop and AMC …

Oil prices rose on Monday supported by the commitment of the members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, known as OPEC+. Last month, OPEC+ agreed on extending the output curbs in February, with Saudi Arabia vowing to unilaterally cut production to help restore …

The U.S. Dollar (USD) rose on Monday, opening the week with a positive performance, supported by the decline of the Euro (EUR) and the Swiss Franc (CHF). The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.43% at 90.97. …

Gold prices rose on Monday, amid improved demand despite the U.S. Dollar (USD) showing rebound signs and rising across the board against major currencies. The yellow metal futures for April delivery gained $13.6, or 0.7%, and settled at the level of $1,863.90 per ounce. Meanwhile, silver futures for March delivery …

The President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Monday that the Fed and the U.S. Congress have responded well to the Coronavirus crisis, in a better way compared with the global financial crisis, Reuters reported. “Right now I’m not concerned about it – this is …

European stocks closed higher on Monday, opening the week with a positive performance amid improved investors’ sentiment. Following a weekly decline that was the worst since last October, the pan-European STOXX 600 index rose by 1.2%. The French index CAC40 bounces by 1.16%, while the German DAX finished higher by …