The US authorities filed a lawsuit against Facebook - what are the implications?
Insurers push EU equities higher after Hurricane Irma downgrade
On Monday, European equities rallied in early deals, underpinned by insurers because the downgrade of Hurricane Irma in America lifted expectations that costs for the industry might be lower than initially anticipated.
Europe's insurance index turned to be the leading sectoral gainer, soaring 1.6% after the estimated insured drop in America resulting from Irma was reduced to $20-40 billion.
Among leading gainers in the sector one should mention German reinsurers Hannover Re as well as Munich Re, tacking on respectively 5% and 3.5%. Their revenues contributed to a broad-based soar, helping the pan-European STOXX 600 to gain 0.6%.
The top loser in Europe was Danish pharmaceuticals company Lundbeck. It went down 11% following the resignation of CEO Kåre Schultz.
Additionally, British heavyweight AstraZeneca rallied 3.1% after two of its drugs fighting lung cancer demonstrated impressive clinical results on Saturday.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.