Market Update

The head of China National Pharmaceutical Group Sinopharm said Wednesday, June 2, that the company is able to provide more than one billion doses of the protective vaccine against the Coronavirus to the rest of the world during the second half of this year. This level of supply capacity indicates …

European shares fell today after hitting unprecedented high levels earlier in the week, as investors’ eyes are turning to US and European economic data to derive indications about the direction of monetary policy in the future. The pan-European Stoxx 600 index fell 0.1%, in line with the cautious moves of …

Japanese shares closed higher on Thursday, as the broad Topix index hit its highest level in more than six weeks as the country’s vaccination campaign increased activity, raising hopes that the economy will recover from pandemic-related restrictions. The Nikkei index rose 0.39% to 29,058.11 points, while the broader Topix index …

Dogecoin surged on Wednesday after media reports indicated that Coinbase will allow, through its own platform, trading the meme-based cryptocurrency units. Coinbase reportedly announced yesterday that accepting inbound transfers of Dogecoin Coinbase Pro, according to Reuters. Dogecoin surged by more than 30% to exceed $0.41. The world’s sixth largest cryptocurrency, in …

The main indices of the New York Stock Exchange (NYSE) finished higher on Wednesday, supported by positive expectations for economic recovery that led to an improved risk appetite and sentiment among Wall Street investors. Earlier today, the U.S. Federal Reserve’s Beige Book report showed that the economy expanded better than …

Oil prices finished higher on Wednesday at their best level in about two years, as the results of the most recent OPEC+ summit projected stability and positive expectations for demand recovery during the second half of the year. Brent crude futures for August delivery gained $1.1, or 1.6%, to close …

Gold prices rose on Wednesday, restoring its best closing level in about five months, as U.S. Treasury bond yields declined and the U.S. Dollar (USD) erased most of its daily gains. Despite markets seeing optimism regarding economic recovery, the yellow metal continues to maintain a mostly upward trend especially with …

The United States Federal Reserve’s Beige Book showed on Wednesday that the U.S. economy grew at a moderate pace in April and May. The report highlighted expansion compared with the corresponding period of last year, as consumer spending rose on the back of stimulus packages and the rollout of coronavirus …

European stocks finished higher on Wednesday, hitting a new all-time record high, amid improves investors’ sentiment towards economic recovery from the pandemic. The STOXX 600 Europe index gained 0.28% to close at 451.34 points. Meanwhile, the French CAC40 index rose by 0.50% to finish at 6,521.52 points. The German DAX …

The European Central Bank (ECB) said on Wednesday that creating a digital Euro (EUR) could boost global demand for the currency, making it easier for broader use, Reuters reported. “Safety, low transaction costs and bundling effects, could ease international adoption of a currency.” “Transparency or selective privacy would enable better …