It is science, not lockdowns, that will save the world November 18, 2020 The various new vaccines announced over the past two weeks give real hope of a return to normal life. Of course, many practical questions remain. How will these vaccines be delivered? Do they stop the transmission or simply the symptoms of the virus? Exactly how effective will they be outside a controlled trial environment? But [...]
FTSE 100 and US stocks slip as investors focus on virus November 17, 2020 The FTSE 100 fell along with global stocks after jumping yesterday, as investors eased off on their rush into risk assets with months of uncertainty still ahead for the global economy. Drug firm Moderna’s announcement that its vaccine had shown to be almost 95 per cent effective in late-stage trials cheered markets yesterday, sending the [...]
Number of listed firms on London’s stock market shrunk faster than European rivals November 17, 2020 The tally of companies choosing to list on the London Stock Exchange contracted sharply over the last decade as companies increasingly choose to raise money through private equity deals, a trend also seen in the wider European market. The London Stock Exchange lost 378 companies on net between 2010 and 2018, a 21 per cent [...]
Europe set for softer open as froth gets blown off some of yesterday’s gains November 17, 2020 For the second week in succession global markets have got off to a flier, with the FTSE100 hitting its best levels since June, while US markets put in yet another record close for the Dow and S&P500. Once again it was optimism over a vaccine that prompted yesterday’s move higher, as Moderna followed in the [...]
Cabinet confidential: Who will Joe Biden pick as the next US Secretary of the Treasury? November 16, 2020 President-elect Joe Biden has made it clear he wants his government to “actually look like America”, with pundits expecting the most diverse cabinet ever assembled. Speculation is rife Biden will appoint female and Bame candidates to top cabinet roles, including to Secretary of the Treasury and Secretary of State. The former Vice President will have [...]
US stocks surge as Fauci promises widescale vaccine rollout by April November 16, 2020 US stocks surged this afternoon as America’s top infectious disease expert suggested the country’s general population will likely start being vaccinated against coronavirus in the Spring. Speaking in a US press call, Dr. Anthony Fauci said the “general population without underlying health conditions” would start receiving Covid vaccines in April. Fauci’s comments boosted gains across [...]
Hungary and Poland veto EU budget and coronavirus recovery fund November 16, 2020 Hungary and Poland have effectively vetoed the European Union’s budget and coronavirus recovery package in response to plans to make access to funds conditional on adhering to the rule of law. The veto came as top EU officials and countries’ ambassadors today discussed the €1.1 trillion (£990bn) budget, which covers 2021-27, and the €750bn coronavirus [...]
Wall Street and European markets cheer highly effective Moderna vaccine November 16, 2020 Wall Street indexes followedthe FTSE 100 and indexes in the rest of Europe higher after more good news in the search for a Covid-19 vaccine
Oil prices bounce back on Moderna vaccine hopes ahead of crucial Opec+ meeting November 16, 2020 Oil prices bounced back today as optimism over a new coronavirus vaccine compounded encouraging economic figures from China and Japan and encouraged traders. After picking up 10 per cent on the back of the news of an effective coronavirus vaccine, prices flagged on Thursday and Friday as growing numbers of Covid cases brought markets back [...]
Asian stocks near record high after signing of huge RCEP trade deal November 16, 2020 Asian stock markets rose towards record highs after countries in the region signed the world’s biggest trade deal, which covers nearly a third of the globe’s population and economic output. The main Asian benchmark was on track to close at its highest ever level. China’s SSE Composite index rose one per cent while Japan’s Nikkei [...]