Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 13 August 2021 2:38 am

  Adidas to Sell Reebok in $2.5 B Deal

  

  Adidas is selling Reebok to Authentic Brands Group in a deal worth about EUR 2.1 billion ($2.5 billion). The largest sportswear manufacturer in Europe reportedly wants to focus on its main business and core brand The German multinational company acquired Reebok in 2006 in a $3.8 billion deal that failed …

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• 13 August 2021 2:03 am

  Mexico Raises Main Interest Rate to 4.5%

  

  The Bank of Mexico announced on Thursday that it has decided to raise its key interest rate by 25 basis points to 4.5%. The move, which only three of the five board members voted in favor, aims at combating increasing inflationary pressures. Two other board members voted to maintain interest …

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• 13 August 2021 1:56 am

  U.S. Home Prices Surge in Q2 to New Record High

  

  U.S. home prices increased during the second quarter of the year, amid higher demand and a limited supply of available homes. Data by the National Association of Realtors showed on Thursday that the median sales price for single-family existing homes increased in 94% of metropolitan areas across the United States …

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• 13 August 2021 1:46 am

  Disney Exceeds Expectations in Quarterly Results and Stock Soars 5%

  

  The Walt Disney Company has registered a huge surge in revenues, backed by higher sales as more people return to visit the famous theme park and the number of subscriptions to its streaming services growing steadily. Disney reported its best sales and profit since the onset of the coronavirus pandemic, …

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• 13 August 2021 12:48 am

  GBP/USD Plunges Following UK GDP Data

  

  The Sterling Pound (GBP) is declining against the U.S. Dollar (USD) on Thursday, with the greenback fluctuating against major currencies but mostly maintaining the positive territory. Meanwhile, the British Pound has declined to its level in roughly two weeks after data showed that the United Kingdom’s economy grew faster than …

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• 12 August 2021 10:23 pm

  M&A Global Activity Has Already Exceeded 2020 Levels

  

  The total value of global merger and acquisition (M&A) so far this year, has already exceeded that of last year, amounting to $3.6 trillion year-to-date, according to recent data by Refinitiv. A large chunk of this volume took place in the United States, where $2.14 trillion worth of M&A deals …

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• 12 August 2021 9:03 pm

  European Stocks Maintain Rally and Hit New Record High

  

  European stocks closed higher on Thursday, managing to break yet another record high rising the ninth consecutive session, supported by an improved risk appetite among investors who are monitoring earnings reports and merger and acquisition deals. The STOXX Europe 600 index added 0.52 points or 0.11% to close at a …

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• 12 August 2021 5:27 pm

  U.S: Annual PPI Rises to 7.8% in July

  

  The Producer Price Index (PPI) in the US for final demand rose to 7.8% on a yearly basis in July from 7.3% in June, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in higher than the market expectation of 7.3%. On a …

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• 12 August 2021 4:44 pm

  Weekly Initial Jobless Claims Decline to 375K

  

  There were 375,000 initial claims for unemployment benefits in the US during the week ending August 7, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 387,000 (revised from 385,000) and matched the market consensus.

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• 12 August 2021 3:54 pm

  OPEC Leaves 2021 And 2022 World Oil Demand Growth Forecasts Unchanged

  

  In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it left the 2021 and 2022 world oil demand growth forecasts unchanged despite concerns over Delta variant weighing on energy demand. OPEC currently expects the global demand to rise by 6.6%, or 5.95 …

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• 12 August 2021 3:21 pm

  Turkey: CBRT Leaves Policy Rate Unchanged at 19%

  

  The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 19% as expected.  “Taking into account the high levels of inflation and inflation expectations, the current tight monetary policy stance will be maintained decisively until the significant fall …

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• 12 August 2021 2:53 pm

  European Shares Stabilize on Strong Earnings And M&A Activity

  

  European shares stabilized, trading slightly below record highs, as strong profits achieved by a group of insurance companies and mergers and acquisitions activities in Britain helped offset the decline in mining companies. The pan-European Stoxx 600 index settled in morning trading after eight consecutive days of record gains. British insurer …

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• 12 August 2021 1:44 pm

  Dollar Drops Off 4-Month High as Inflation Fears Recede

  The dollar hit just under a four-month peak against major peers on Thursday as currency traders digest data from the previous day showing that US inflation may be flailing. The dollar index, which measures the performance of the US currency against a basket of six rival currencies, was unchanged at …

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