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Market Analysis

January, 2021

  • 19 January 2021 7:37 pm

    Canada’s Manufacturing Sales Down for Fourth Month in Row

    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.

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  • 19 January 2021 7:36 pm

    Canadian Wholesale Sales at Record High

    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 …

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  • 19 January 2021 6:35 pm

    Goldman Sachs Profits Jump by 153% Thanks to Acquisition And Trading Activities

    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 …

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  • 19 January 2021 5:15 pm

    German ZEW Economic Sentiment Index Beats Estimates

    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 …

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  • 19 January 2021 4:44 pm

    BofA: Quarterly Profit Exceeds Expectations But Revenues Falling

    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 …

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  • 19 January 2021 3:38 pm

    Russia: Second Vaccine is 100% Effective

    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.

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  • 19 January 2021 3:05 pm

    EU Commission: National Plans to Spend Covid Recovery Funds Lack Detail, Need to be Improved

    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.”

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  • 19 January 2021 2:36 pm

    Egypt’s Trade Deficit Shrank by 17% in 2020

    Egypt

    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 …

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  • 19 January 2021 2:05 pm

    Gold Rising as Dollar Retreats From Its Peak in a Month

    Gold

    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 …

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  • 19 January 2021 1:14 pm

    Japan’s Nikkei Closes Higher

    Japan

    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 …

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  • 19 January 2021 1:09 pm

    Turkey Bans ads on Twitter, Periscope And Pinterest

    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 …

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  • 19 January 2021 1:05 pm

    European Shares Rise on Positive Earnings Reports

    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 …

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  • 19 January 2021 3:02 am

    S&P 500 Could Rise by 14% in 2021: Goldman Sachs

    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 …

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