The euro was stronger and demand for the currency could improve given the speed of its recent depreciation against the dollar following the U.S. election, MUFG Bank said, adding that the risk of the ECB cutting rates by less than expected could also benefit the currency. Source link
(Reuters) – Russia’s leading tanker group Sovcomflot said on Friday that Western sanctions on Russian oil tankers were limiting its financial performance, as it reported falling revenues and core earnings. The United States imposed sanctions on Sovcomflot in February, part of Washington’s efforts to reduce Russia’s revenues from oil sales that it can use to finance its war in Ukraine. Sovcomflot reported a 22.2% year-on-year drop in nine-month revenue to
Gold futures were flat, but down nearly 5% on week, reflecting a surge in risk appetite after the Republican win in the U.S. elections, ActivTrades said. Source link
Investing.com — Chinese e-commerce giant Alibaba (NYSE:) Group Holding Ltd (NYSE: BABA) reported better-than-expected third-quarter earnings on Thursday, sending its shares up 3.2% in premarket trading. The company posted adjusted earnings per share of RMB15.06 ($2.15), beating analyst estimates of RMB14.79, but falling 4% year-over-year. Revenue came in at RMB236.5 billion ($33.7 billion), up 5% YoY but slightly below the consensus forecast of RMB239.97 billion. Alibaba’s core China commerce retail business
The Justice Department and other federal agencies are investigating trades by Wamco’s star fund manager. Source link
By David Shepardson WASHINGTON (Reuters) – The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co’s U.S. unit for semiconductor production in Phoenix, Arizona. The binding contract – after a preliminary agreement announced in April – is the first major award to be completed under the $52.7 billion program created in 2022. It comes just weeks before President-elect Donald Trump, who
European natural-gas prices continued to hover around their highest level this year on stronger demand and concerns over Russian flow disruptions. Source link
Investing.com – Indonesia stocks were lower after the close on Friday, as losses in the , and sectors led shares lower. At the close in Jakarta, the declined 0.78% to hit a new 3-months low. The best performers of the session on the were Adiwarna Anugerah Abadi PT Tbk (JK:), which rose 34.02% or 66.00 points to trade at 260.00 at the close. Meanwhile, Jakarta Setiabudi Internasional (JK:) added 24.93%
Fixed-income investors are entering 2025 with a strong foundation, Columbia Threadneedle Investments said, adding that bonds are well-positioned to generate healthy returns, with yields at attractive levels and the Fed in a supportive, rate-cutting cycle. Source link
Investing.com – Japan stocks were higher after the close on Friday, as gains in the , and sectors led shares higher. At the close in Tokyo, the gained 0.35%. The best performers of the session on the were Japan Steel Works Ltd (TYO:), which rose 7.12% or 400.00 points to trade at 6,015.00 at the close. Meanwhile, Mizuho Financial Group Inc (TYO:) added 6.63% or 234.00 points to end at
