July, 2020

• 8 July

  China traders borrow most cash since 2015 for stocks

  Bloomberg Chinese investors are loading up on leverage to speculate in the stock market at the fastest pace in more than five years. They pushed outstanding margin debt on domestic exchanges to more than 1.2 trillion yuan ($171 billion). The figure rose 36.7 billion yuan from July 3, the biggest increase since January 2015. The surge in leverage shows how ...

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• 7 July

  Oil slips near $40 with US gasoline stockpiles rising

  

  Bloomberg Oil dropped to trade near $40 a barrel before US government data that’s forecast to show gasoline stockpiles increased, while rising virus infections raised concern stricter controls will be extended. US gasoline supplies expanded by one million barrels last week, according to a Bloomberg survey, while nationwide crude stockpiles are projected to have fallen for a second week. Official ...

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• 7 July

  Global GDP could fall 20% as climate change heats up

  

  Bloomberg Hotter temperatures by 2100 could slash global GDP by more than 20%, according to new research, and the way the economic impact will be distributed threatens to turn climate change into an enormous driver of worldwide inequality. A new analysis of the relationship between heat and economic performance released this week by Oxford Economics, a global forecasting firm, identified ...

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• 7 July

  Coronavirus crisis is reshaping oil industry, says Eni

  

  Bloomberg Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry. Eni now sees benchmark Brent crude at $60 a barrel in 2023 real terms, down from a previous estimate of $70, the company said. Rivals Royal Dutch Shell and BP ve also cut price ...

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• 7 July

  India to halt China power gear import

  Bloomberg India will stop power equipment imports from China, power minister Raj Kumar Singh said, amid simmering border tensions between the two neighbours. The South Asian nation has the capability to manufacture all kinds of electricity equipment, Singh said at a meeting with energy officials of states, encouraging them to promote local procurement. China accounted for $2.8 billion of the ...

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• 7 July

  All eyes on China’s unstoppable stocks after $460 billion rally

  

  Bloomberg China’s equity market is firmly in the spotlight after an almost unprecedented rally that helped lift global stocks to a one-month high. The speed of the past week’s gains in China is in many ways unseen since the stock bubble that burst five years ago. Monday’s surge alone added more than $460 billion to Chinese stock values, behind just ...

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• 7 July

  European stocks drop from one-month high

  

  Bloomberg European stocks retreated from a one-month high reached on Monday after Germany reported weaker-than-expected industrial data. The Stoxx Europe 600 Index dropped 1.1% as of 10:18 am in London, with all 19 industry groups lower. Technology and real estate shares led losses, while autos outperformed. Germany’s DAX Index dropped 1.4% after May factory orders missed forecasts. Adding to the ...

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• 7 July

  Indian stocks swing as investors weigh growth

  Bloomberg India stocks swung between gains and losses in volatile trade as investors mulled the outlook for economic growth against corporate risks as coronavirus continues to spread. The S&P BSE Sensex was little changed at 36,475.06 as of 12:47 pm in Mumbai, after rising as much as 0.4% and falling as much as 0.7%. The gauge closed at its highest ...

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• 6 July

  UAE launches 32 drinking water projects in Yemen

  

  ADEN / WAM Over a three-year period, the UAE, represented by the Emirates Red Crescent (ERC) launched 32 projects to provide drinking water in the governorates of Yemen’s Red Sea Coast, benefitting some 600,000 people. The projects are part of a series of humanitarian projects implemented by the UAE to help the Yemeni people related to food aid, shelter, social ...

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• 6 July

  Green investing tool launched by funds with $1 trillion of assets

  

  Bloomberg Pension fund managers from three continents have launched an online green-investing tool that measures companies against United Nations sustainable development goals. The SDI Asset Owner Platform will allow investors to assess 8,000 companies using the UN criteria, according to a statement on Monday. The four pension funds — APG Asset Management NV and PGGM NV from the Netherlands, British ...

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