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Gulf Today Report
European shares gain on Thursday on high hopes for US President-elect Joe Biden’s stimulus and gains in Chinese export.
The pan-European STOXX 600 index rose 0.3% while Germany's DAX index was up 0.3%. London's FTSE 100 index gained 0.1%.
According to a report, Biden is likely to spend $2 trillion in stimulus, it is more than the market expectations.
The pandemic disruptions have boosted demand for Chinese goods, according to data, Chinese exports grew beyond expectations.
Fujairah oil products decline for the 4th week
Gold declines as dollar and US Treasury yields gain
Oil prices ease as the new coronavirus variant spreads
Asian shares remain mixed on Thursday as investors wait for details of US President-elect Joe Biden’s plan to help the economy recover from the pandemic.
Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai.
Tokyo's Nikkei 225 index climbed 1.7% to 28,828.10 after a report showed strong growth in machinery orders in December, suggesting robust corporate spending despite a marked worsening of the pandemic.
The Hang Seng in Hong Kong gained 0.5% to 28,375.25. South Korea's Kospi edged 0.1% lower to 3,142.57. In Australia, the S&P/ASX 200 rose 0.4% to 6,713.30.
The Shanghai Composite index dropped 0.3% to 3,588.28.
In the US, representatives have voted to impeach President Donald Trump on “incitement of insurrection.” That has made US futures trade higher.
However, Investors are not focusing on the turmoil, instead, they are keeping an eye on a stronger economy ahead.
The pan-European STOXX 600 index rose 0.1% while London's FTSE 100 climbed 0.2%, In Asia, benchmarks rose in Tokyo, Hong Kong and Sydney,
The pan-European STOXX 600 index jumped by 1% while Tokyo's Nikkei 225 fell 1.1% to 26,439.89.
Shares also fell in Tokyo, Shanghai and Sydney, Hong Kong’s Hang Seng dropped 0.3%, shares rose in India but fell in Taiwan.
The pan-European STOXX 600 index rose 0.2% after closing at more than two-week low in the previous session.
As of Monday, the total inventory amounted to 21.759 million barrels, 1.8 per cent below that of the previous week.
Brent crude futures climbed 19 cents, or 0.3%, to $56.10 a barrel while US West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.4%, to $52.81 a barrel.
Spot gold was down 0.1% to $1,849.16 per ounce while US gold futures eased 0.2% to $1,847.50.
The UAE has succeeded in providing all public and private services, which greatly contributed to mitigating the expected impact of the pandemic on the real estate sector, thanks to the proactive measures of the government, says Binghatti.