The Director-General of the World Health Organization, Tedros Adhanom Ghebreyesus, said Monday that the number of new Coronavirus infections worldwide increased last week for the first time in seven weeks. Tedros added that the increase is “disappointing, but not surprising.” He urged countries not to ease measures to combat the …
Read More »Apple Reopening All of Its Stores in America
Apple has announced that all of its 270 stores in the United States are reopening for the first time in nearly a year after it was forced to close several outlets due to the Covid-19 pandemic. The company has been cautious in reopening its retail stores, using a team that …
Read More »UK House Prices Miss Expectations And Rise in February
Mortgage Finance Nation Wide said UK house price growth rose unexpectedly last month, defying expectations of a slowdown, as Finance Minister Rishi Sunak prepares to introduce new budgetary measures to boost the market. The company added that house prices rose 6.9% year-on-year in February from 6.4% in January, beating all …
Read More »Weak Commodity Prices Putting Pressure on European Stocks
The benchmark European stock index fell on Tuesday (March 2nd) after hitting its strongest session in four months yesterday as shares of mining and energy companies, which have a weight on the index, fell on the weak commodity prices. The European Stoxx600 index fell 0.2% in early trading, affected by …
Read More »Eurozone Preliminary CPI misses Estimates with 0.9% YoY in February
According to Eurostat’s initial reading of the Eurozone CPI report for February, European Consumer Price Index (CPI) came in steady at 0.9%. This annual reading is missing the estimation of 1%. The core reading rose by 1.1% annually in same period when compared to the estimated reading of 1.1% and …
Read More »Unexpected Surge in German Unemployment
German unemployment rose in February for the first time since last June, data showed on Tuesday, according to Reuters. The Labor Office said the number of people out of work rose by 9,000 in seasonally adjusted terms to 2.752 million.
Read More »Gold Falls to Its Lowest Level in More Than 8 Months Due
Gold prices fell to their lowest level in 8 and a half months Tuesday, March 2, as the rise of the dollar and US Treasury bond yields undermined investors’ appetite for the yellow metal that does not yield a return. Gold fell in the spot market 0.3% to $ 1717.99 …
Read More »Japan Shares Closed Lower as Investors Booked Profits
Japanese stocks reversed their direction to close lower on Tuesday, March 2nd as investors booked profits following the strong rally in indices before the end of the fiscal year this month. Investors close their books at the end of the financial year on the last day of March, and many …
Read More »U.S. Treasury Yields Mostly Decline but Remain Near Year-High
Treasury yields in the United States mostly declined on Monday, showing signs of stability following last week’s surge to their highest level in about a year. The benchmark 10-year Treasury bond yield decreased by 1.5 basis points to 1.444%. Meanwhile, the return on the 30-year bond added 3.2 basis points …
Read More »Goldman Sachs Restarts Cryptocurrency Desk
Goldman Sachs Group resumed the activity of its cryptocurrency trading desk, Reuters reported. As part of the Global Markets division, the bank will begin trading bitcoin futures starting next week, according to an unnamed source. The bank is reportedly exploring the potential for a bitcoin exchange traded fund (ETF). The …
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