Increasing virus concerns start to outweigh vaccine optimism November 19, 2020 Yesterday saw markets undergo a period of introspection, as further positive news about the Pfizer vaccine offset concerns about the increasing economic damage set to be caused by further restrictions and lockdowns, as infection and hospitalisation rates continued to rise. While markets in Europe managed to eke out some modest gains close to their recent [...]
Asian stocks mixed as investors weigh ‘virus vs. vaccine’ November 19, 2020 Asian stocks were mixed as investors weighed up rising coronavirus cases and new measures to curb them with hopes that a vaccine could soon be ready. Equities fell in Japan by 0.5 per cent after Tokyo warned about a record rise in daily coronavirus cases. The warning prompted fears that further restrictions could soon be [...]
The four “M”s: why the 21st century belongs to Asia November 18, 2020 | City Talk For a look into the future of the global economy, and where the power is shifting, consider technology developments in both China and India., In a mere decade, China’s e-commerce market has grown from less than 1% of global sales, into the world’s largest market in 2016, representing more than 40% of transactions by value. [...]
London startup Arrival valued at $5.4bn in US listing through Spac deal November 18, 2020 Electric vehicle startup Arrival has merged with a blank-check company to go public in the US at a listing valued at around $5.4bn. The London-based company, which was founded in 2015, has agreed to merge with Nasdaq-listed CIIIG Merger Corporation, a special purpose acquisition company (Spac). This year there has been somewhat of a frenzy [...]
BoE’s Andy Haldane: Digital currencies could cut risk and boost lending November 18, 2020 Digital currencies could reduce risk in the financial system and aid monetary policy with interest rates close to rock bottom, Bank of England chief economist Andy Haldane has said. Haldane also told The City UK’s annual conference that new technological infrastructure should be considered to help small and medium-sized businesses better access finance after years [...]
Bitcoin breaks through $18,000 to near all-time high November 18, 2020 Bitcoin has reached a three-year high after breaking through $18,000, with analysts predicting it could climb higher. The leading cryptocurrency has seen value surge 160 per cent this year, climbing 70 per cent since September alone. Bitcoin has rallied to $18,123, nearing the $19,763 all-time high it reached in December 2017. This surge takes the [...]
FTSE 100 dips as coronavirus infections come back into focus November 18, 2020 The FTSE 100 has fallen for a second day as investors return their focus to rising coronavirus cases and new restrictions after positive vaccine news boosted global markets. London’s blue-chip index was down 0.5 per cent shortly after the open, taking it to 6,336 points. The FTSE 250 of slightly smaller firms was 0.2 per [...]
UK inflation picks up despite lockdowns as clothing prices rise November 18, 2020 Prices picked up across the UK economy in October, the latest figures have shown, with clothing pushing inflation higher after disruption to the sector earlier in the year. Consumer price index inflation came in at 0.7 per cent on an annual basis last month, the Office for National Statistics (ONS) said. That was up from [...]
Chinese stocks climb on prospect of fiscal stimulus November 18, 2020 Chinese stocks edged higher on Wednesday after the Chinese government hinted at additional stimulus to aid the economic recovery. Premier Li Keqiang helped to ease investor nerves that authorities might abandon policies to prop up the economy, which has been devastated by the pandemic. On Tuesday night he told state radio that China will promote [...]
Markets today: Weaker start for Europe as investors focus on inflation November 18, 2020 After the vaccine inspired rally on Monday, a slightly more tempered market followed on Tuesday as the continued rise in virus cases started to experience a bit more cut through in the face of some disappointing US economic data. It is slowly becoming apparent that the economic damage being caused by subdued consumer activity is [...]