Market Update

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 …

Turkey banned ads on Twitter, Periscope and Pinterest after these platforms did not appoint local representatives in the country under a new social media law, according to decisions published on Tuesday. The law stipulates that social media companies that do not appoint local representatives will be subject to a set …

European stocks rose after Asian markets rose on optimism about the Chinese economy, while sentiment was supported by positive earnings reports from the Minera Rio Tinto and Logitech, a maker of computer accessories. The European STOXX 600 index gained 0.4%, while the German DAX and the French CAC 40 index …

The S&P 500, one of three main indices on the New York Stock Exchange (NYSE), is expected to make gains of about 14% this year, to close 2021 at the level of 4,300 points, as shown by a recent projection by Goldman Sachs picked up by Dow Jones’s MarketWatch. As …

The British Pound (GBP) has recovered most of its earlier losses on Monday against the U.S. Dollar (USD) amid the decline of the later. The Sterling saw a negative performance throughout the first day of the week amid uncertainty resulting from the prospects of London losing its position as leading …