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Gulf Today Report
European stocks fell on Thursday due to the slump on Wall Street as concerns for the effect of the fresh lockdowns grows.
The pan-European STOXX 600 fell 0.7% by 08:10 GMT, with growth-sensitive oil and gas, banking and mining sectors leading early losses.
On the other hand, the prospect of a COVID-19 vaccine has propelled the STOXX 600 to levels hit in February.
Asian shares ease on Thursday as fresh US restrictions affect Wall Street and bonds are relying on speculation of aid from Federal Reserve.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%, off their historic high. Chinese blue chips added 0.4% as President Xi Jinping vowed to cut tariffs and expand imports of high-quality goods and services.
Japan also reported record news cases as Tokyo raised its pandemic alert to the highest level, shoving the Nikkei down 0.8% and away from a 29-year closing top.
On Wall Street, E-mini futures for the S&P 500 remain firm after a dip on Wednesday.
The Dow slumped 1.16%, while the S&P 500 shed 1.16% and the Nasdaq 0.82%.
Following the announcement of a 95% effective COVID-19 vaccine by Pfizer Inc, its shares advanced.
However, the US death toll keeps surging leading to government officials in different parts of the country imposing fresh restrictions.
Tokyo and Sydney rose, on the other hand, Shanghai, Hong Kong and Seoul slumped, on Wall Street, the benchmark S&P 500 index jumped 1.9% higher while European stocks grapple for momentum.
Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney rose while Seoul fell less than 0.1%. The benchmark S&P 500 index on Wall Street closed 1.2% higher and in Europe, the pan-European STOXX 600 was flat at 4%.
The pan-European STOXX 600 index rose 0.4% and was on track for a marginal weekly gain after signs of progress on COVID-19 vaccine pushed the index to February highs earlier this week.
World shares rose to just below record peaks on Tuesday after factory surveys boosted expectations of a recovery from the COVID-19 downturn, with drugmakers seeking fast approval for vaccines and authorities looking
The UAE has become a symbol of prosperity and achievements in the past 49 years. Today the adorable country is celebrating its 49th National Day. Sheikha Hind Bint Majid Al Qasimi, Chairperson of Sharjah Business Women
The 49th National Day is a glorious occasion that makes everyone living in the UAE feel proud of the country’s achievements. Wesam Lootah, CEO of the Smart Dubai Government Establishment, told Gulf Today