November, 2020

• 11 November

  China tech selloff swells to $200bn on antitrust rules

  

  Bloomberg Chinese technology giants from Alibaba Group Holding to Tencent Holdings shed almost $260 billion of market value over two days of frantic selling, as investors scrambled to assess the fallout from Beijing’s broadest attempt to rein in its most powerful private-sector firms. Technology shares tumbled for a second day after Beijing issued regulations designed to curb the growing influence …

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• 11 November

  Stocks in Europe, Asia advance on cyclicals

  

  Bloomberg Stocks rise in Europe and Asia on Wednesday as investors continued a rotation into cyclical industries at the expense of technology shares. Crude oil rises. Gains in travel, energy and consumer stocks pulled the Stoxx Europe 600 Index higher at the open. Tech shares underperformed, including Dutch Internet provider Prosus NV and equities in Japan, Korea and Australia climbed …

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• 10 November

  Oil nears $41 as vaccine buoying demand hope

  

  Bloomberg Oil extended gains, following Monday’s rally on optimism that a potential Covid-19 vaccine could boost a recovery in transport demand. Crude futures in New York approached $41 a barrel, after advancing more than 10% at one point. It comes after early findings showed that a vaccine developed by Pfizer Inc. and BioNTech SE protects most people from the virus. …

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• 10 November

  Global stock rally tempers after virus vaccine euphoria

  

  Bloomberg The global rally in stocks paused on Tuesday while haven assets found support amid concern that a promising coronavirus vaccine study still has hurdles to clear. The Stoxx Europe 600 Index fluctuated, with banks leading gains and tech stocks the biggest decliners, the day after news from Pfizer Inc and BioNTech SE about their anti-viral treatment sent global stock …

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• 10 November

  India stocks extend record rally as vaccine results fan optimism

  

  Bloomberg Stocks in India’s $2.2 trillion market joined a global rally as vaccine results fuelled optimism of an exit from the pandemic after local benchmarks closed at record highs. The S&P BSE Sensex climbed 1.1% to 43,067.84 in Mumbai, while the Nifty 50 rises by 1%. Both gauges closed at fresh peaks Monday and have gained about 8% so far …

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• 9 November

  First passengers travel safely on Hyperloop in historic test ride

  DUBAI / WAM Virgin Hyperloop made history on Monday as the first passengers successfully traveled in a Hyperloop pod. The significant investment made by Dubai-based DP World, the leading global provider of smart logistics solutions, in the research and development of hyperloop technology, has played an instrumental role in today’s milestone. Sultan Ahmed bin Sulayem, Chairman of Virgin Hyperloop and …

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• 9 November

  Oil climbs near $38 after Biden victory

  

  Bloomberg Oil advanced near $38 a barrel and gold climbed for a third day as President-elect Joe Biden prepared to transition into White House even as Donald Trump rejected the outcome of US election. Crude futures in New York rise 2.3% and spot gold added 0.2% amid a broader rally in global stocks. The dollar extended declines. While Biden declared …

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• 9 November

  Canada’s Enbridge joins Shell, BP with 2050 emissions goal

  

  Bloomberg Enbridge Inc became the largest company in the North American oil industry to set a goal of eliminating all net emissions from its operations by 2050, joining major European producers in providing climate-conscious investors with a plan to tackle global warming. The pipeline giant also established an interim target of reducing the intensity of greenhouse-gas emissions from its operations …

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• 9 November

  Orr readying new RBNZ stimulus tool as step towards negative rates

  

  Bloomberg New Zealand central bank (RBNZ) governor Adrian Orr is set to unveil a new monetary stimulus tool aimed at driving borrowing costs to fresh historic lows to spur economic growth. Orr is expected to lay out plans on November 11 to provide cheap loans to banks, giving them scope to further reduce lending rates. The Funding for Lending Program, …

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• 9 November

  BOE governor Cunliffe says resuming bank dividends still unclear

  

  Bloomberg Bank of England (BOE) Deputy Governor Jon Cunliffe said there is no clarity yet on allowing banks to pay dividends as there may “still be a case” for restrictions until their robustness is assessed, according to The Sunday Times. Policy makers need to study the economic outlook, bank capital and the impact of profitability and losses on the lenders …

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