World News – CA – Europe: Equities end four-day winning streak as vaccine rally cools


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[BENGALURU] European stocks ended lower on Wednesday as traders posted gains following strong gains earlier this month.

The pan-European Stoxx 600 index fell by 0. 1 percent, with energy and automotive stocks declining.

Energy values ​​fell 1. 2 percent after nearly 10 percent in the last three trading sessions due to crude oil price hikes that benefited from vaccine hopes and favorable political scenarios in the US.

However, the markets pulled back on recent gains as coronavirus cases increased in the bloc and economic ruins continued to be felt due to the recent lockdowns. Still, European stocks were set for their best month ever.

« The market has pulled some risk off the table, which has two opposing effects, one of betting on improved corporate earnings versus the expectations of central banks that they will withdraw stimulus measures when the economy begins to improve. « said Andrea Cicione, Head of Strategy at TS Lombard.

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A Reuters poll predicts the Stoxx 600 will climb to 430 points by the end of 2021, just a touch below February’s record high, as economic activity normalizes again after the coronavirus-induced downturn.

British mid caps lost 1. 1 percent and were the worst performers among European indices after the EU chief said the European Commission could not guarantee that there would be a trade pact with the UK after leaving the EU and the days ahead will be crucial.

The British Treasury Secretary Rishi Sunak canceled loans of around 400 billion this year. GBP to fund massive coronavirus damage to its economy. The world’s sixth largest economy is expected to shrink by 11. 3 percent in 2020: the worst performance in more than 300 years.

Germany and the UK have unveiled plans to allow gatherings with restrictions for Christmas, while France will begin easing this weekend after a sharp drop in new infections and hospital stays.

French President Emmanuel Macron said Tuesday a vaccine could be given as early as the end of the year if it were approved by regulators.

On company news, Virgin Money UK fell 4. 8 percent after the lender reported a slump in annual earnings as a result of an impairment loss against an expected increase in bad loans.

The German media group Bertelsmann has won 0. 6 percent after the agreement to buy the publisher Simon & Schuster for $ 2. 175 billion in cash from ViacomCBS, which strengthens its presence in the US.

[SINGAPORE] From Thursday noon (26. November) five new coronavirus cases were announced, one of which was in the. . .

CHINA-based real estate developer Sincere Property Group posted 150 million yuan (S $ 30) on Thursday. 6 million) in sales. . .

[KUALA LUMPUR] Malaysia’s Prime Minister Muhyiddin Yassin secured an important victory on Thursday when Parliament approved. . .

The Land Transport Authority (LTA) of SINGAPORE has the first of two civil contracts to build one. . .

Stock, Europe, Stock Market, Vaccine

World News – CA – Europe: Stocks end four-day winning streak as vaccine rally cools



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