Market Update

European stocks gave up earlier gains and closed Monday lower, amid uncertainty surrounding Brexit talks between the United Kingdom (UK) and the European Union (EU). The STOXX Europe 600 index closed lower by 0.3%, after rising earlier today by 0.8%. Meanwhile, the UK’s FTSE100 fell by 0.59%. Similarly, the French …

The United Kingdom (UK) does not plan to return to trade negotiations with the European Union (EU) next year, according to the Prime Minister Boris Johnson’s spokesman “We have been repeatedly clear that any agreement needs to be in place before the end of the transition period, and we will …

Halliburton reported quarterly losses for the fourth consecutive quarter, amid disruptions caused by the COVID-19 crisis affecting the global demand for oil. Revenues decreased to $1.57 billion down by 55% from $3.51 billion for the same quarter last year. The oil giant posted a net loss of $17 million during …

The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. “We do think it’s more important to get it right than to be first and getting …

The European Central Bank (ECB) is set to maintain an accommodative policy amid the COVID-19 crisis, said the bank’s President Christine Lagarde on Monday, Reuters reported. Lagarde further revealed that EUR 590 billion of the EUR 1.35 trillion asset purchase programme have already been allocated to help maintain interest rates …

Major US stock indices opened higher today, Monday, thanks to hopes that a vaccine for the Coronavirus will be available by the end of the year, while investors are also encouraged by indications that an agreement will soon be reached in Washington on a financial package. The Dow Jones Industrial …

Wholesale sales in the Canadian economy increased for the fourth consecutive month in August, more than analysts’ expectations. data released by Statistics Canada showed on Monday, that wholesale sales in Canada posted an increase of 3% last August compared to 4.3% in July. Analysts had expected that wholesale sales in …

Data from the Chinese Bureau of National Statistics showed today, Monday, that China’s crude oil production rose 2.4% year on year in September to 16.1 million tons, while natural gas production increased 7.6% from a year ago. Crude oil production grew 1.7% year on year in the first nine months …

Sources in OPEC+ told Reuters that the group of oil-producing countries will meet on Monday to discuss expectations of weak demand in light of the high cases of Coronavirus and the increase in Libya’s production, but it is unlikely to recommend immediate action. A joint ministerial monitoring committee, including the …

Oil prices fell today, Monday, after the growth of the Chinese economy in the third quarter of the year was weaker than expected, highlighting concerns about the impact of the growing Coronavirus infections around the world on demand for the largest importer of crude in the world. The world’s second-largest …