Market Update

Manufacturing sales in Canada declined during November for the fourth month in a row, falling by 0.6%, according to data by Statistics Canada released on Tuesday. Manufacturing sales registered CAD 53.7 billion in November.

Wholesale sales in Canada increased during November 2020 for the seventh consecutive month to reach a new record high, data by Statistics Canada showed on Tuesday. Wholesale sales rose by 0.7% to hit a new all-time high of CAD 67.4 billion. In volume, wholesale sales went up by 0.9% in …

Goldman Sachs Group announced a 153% increase in fourth-quarter profit today, Tuesday, driven by the strong performance of its core bond trading and underwriting activities, and an increase in mergers and acquisitions activities. The bank’s net profit attributable to ordinary shareholders rose to $ 4.36 billion in the quarter ended …

The German ZEW headline numbers for January showed that the Economic Sentiment Index improved to 61.8 versus 60.0 expected and 55.0 prevoius. While the sub-index Current Conditions figure arrived at -66.4 in Jan versus -68.5 expected and -66.5 seen previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Jan unexpectedly rose …

Bank of America reported a profit of 59 cents, compared to expectations of 55 cents, according to Refinitiv estimates. Quarterly revenues decreased by 10% to $ 20.2 billion compared to the same quarter of the previous year, which fell below expectations of $ 500 million. The following are the bank’s …

Russia has found that its second COVID-19 vaccine developed by the Vector Institute, is 100% effective. The Tass news agency reports that the perfect results are based on clinical trials.

The European Commission has warned some preliminary national plans to spend the covid recovery money lack detail and need to be improved, Reuters reports, citing sources with knowledge of the matter. “EU commission has said the net paying countries would reject plans if not accompanied by reforms.”

The Egyptian Ministry of Trade and Industry said that the trade balance deficit decreased by about 17% year-on-year in 2020 to $ 38.291 billion. The ministry added in a press statement that non-oil exports decreased by 1% to 25.295 billion dollars in 2020, while imports fell 12% to 63.587 billion …

Gold prices rose today, Tuesday, to rise from the one-and-a-half-month low they reached in the previous session, as the US dollar retreated, while the yellow metal, which is considered a safe haven, received support from the prospects of injecting more stimulus into the global economy. Spot gold rose 0.1% to …

Japanese stocks closed higher, after falling for two consecutive sessions, as investors held decliners, while carmakers and semiconductor stocks led the rally. The Nikkei index rose 1.39% to 28,633.46 points, while the broader Topix index rose 0.56% to 1,855.84 points. Sentiment was boosted after Chinese data released on Monday raised …