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Business & Finance - 2021-02-19
AstraZeneca/Oxford vaccine more effective with longer dose gap: study
Companies

AstraZeneca/Oxford vaccine more effective with longer dose gap: study

  • The study confirmed the Anglo-Swedish drugmaker's findings from earlier this month that showed the vaccine had 76% efficacy against symptomatic coronavirus infection for three months after the first dose.
  • Efficacy was found to be at 81% with the longer interval of 12 weeks between the first and second dose, compared with 55% efficacy up to the six-week gap.
Published 19 Feb, 2021 09:17pm
US natgas futures gain as supply losses expected to 'haunt' market
Energy

US natgas futures gain as supply losses expected to 'haunt' market

  • Prices were also supported as US pipeline gas exports to Mexico rose to 5.1 bcf on Friday after dropping to a 13-month low of 3.8 bcf per day on Tuesday, Refinitiv Eikon data showed.
  • Even though we will see some warmer temperatures... there's still expectations that the loss in production is going to haunt us as we get into summer.
Published 19 Feb, 2021 09:15pm
US factory activity slows in February but supply bottlenecks push up prices
USA

US factory activity slows in February but supply bottlenecks push up prices

  • The data was in line with economists' forecasts, with a reading above 50 indicating growth in manufacturing, which accounts for 11.9% of the US economy.
  • The supply chain bottlenecks, which are widespread across the manufacturing sector as well as the services industry, have led to higher prices for inputs, including raw materials.
Published 19 Feb, 2021 09:05pm
UK bond yields head for biggest weekly rise since June
Financial

UK bond yields head for biggest weekly rise since June

  • Based their latest level they are on course of just under 17 basis points the biggest since the week to June 5.
  • Sterling also rose above $1.40 for the first time in nearly three years on Friday although it was flat against the euro.
Published 19 Feb, 2021 08:57pm
Russian rouble steadies near 74 vs dollar, Norilsk shares rally
Forex

Russian rouble steadies near 74 vs dollar, Norilsk shares rally

  • The rouble was 0.1% weaker against the dollar at 73.99 and eased 0.3% versus the euro to trade at 89.67.
  • Volatility on the oil market and in risky assets may keep the sideways trend in the rouble in place. But we still think that chances for its renewed firming are slightly higher.
Published 19 Feb, 2021 08:40pm
Dollar extends decline as risk appetite favors equities
Forex

Dollar extends decline as risk appetite favors equities

  • The US dollar has been weighed down by a string of soft labor market data, even as President Joe Biden's proposed $1.9 trillion spending package takes shape.
  • What the foreign exchange market is looking at in the short term, is the dollar is going to be weak despite progress in the economy because this country has a huge deficit problem.
Published 19 Feb, 2021 08:36pm
Mexico begins receiving LNG as gas supply via pipeline rises
Energy

Mexico begins receiving LNG as gas supply via pipeline rises

  • The Marshall Island tanker Flex Courageous carrying US LNG docked on Friday at the Manzanillo terminal on the Pacific Coast, Refinitiv Eikon data showed.
  • A second cargo also from the United States on the tanker Seri Balhaf is waiting to discharge about 151,300 cubic meters of LNG at Mexico's Altamira terminal on the Gulf Coast.
Published 19 Feb, 2021 08:30pm
TSX flat as weak retail sales data weighs; set for weekly loss
Stocks

TSX flat as weak retail sales data weighs; set for weekly loss

  • Domestic retail sales fell 3.4% in December to $53.38 billion ($42.37 billion), the biggest monthly drop since April, as COVID-19 restrictions hit businesses, Statistics Canada said.
  • Toronto Stock Exchange's S&P/TSX composite index was flat at 18,274.68 and was set to record its worst week so far this month.
Published 19 Feb, 2021 08:29pm
Indian shares extend losses as financials slide
Stocks

Indian shares extend losses as financials slide

  • The NSE Nifty 50 index closed 0.91% lower at 14,981.75, while the S&P BSE Sensex ended down 0.85% at 50,889.76.
  • Lenders State Bank of India, Axis Bank ICIC Bank were the three biggest drags on the Nifty 50, falling between 3.5% to 3%.
Published 19 Feb, 2021 08:27pm
Raw sugar nears four-year peak, arabica also up
Commodities

Raw sugar nears four-year peak, arabica also up

  • March raw sugar rose by 0.4 cent, or 2.3%, to 17.91 cents per lb.
  • May arabica coffee rose by 0.05 cent, or 0.04%, to $1.2935 per lb.
  • May London cocoa fell by 1 pound, or 0.06%, to 1,632 pounds a tonne after dipping to 1,630 pounds, its weakest in more than one month.
Published 19 Feb, 2021 08:16pm
Israeli studies find Pfizer COVID-19 vaccine reduces transmission
Companies

Israeli studies find Pfizer COVID-19 vaccine reduces transmission

  • Pfizer vaccine developed with Germany's BioNTech reduces infection, including in asymptomatic cases, by 89.4% and in syptomatic cases by 93.7%.
  • Findings of the pre-published study, not yet peer-reviewed, but based on a national database that is one of the world's most advanced.
Published 19 Feb, 2021 08:09pm
Maroc Telecom reports $674 million profit in 2020
Industry

Maroc Telecom reports $674 million profit in 2020

  • The company said it will pay a dividend of 4.01 dirhams per share, totalling 3.5 billion dirhams, or a yield of 2.8%
  • Maroc Telecom said its customer base rose 8.1% to 73 million citing a growth of its African subsidiaries.
Published 19 Feb, 2021 08:07pm
ECB plans closer scrutiny of bank boards
Money & Banking

ECB plans closer scrutiny of bank boards

  • The ECB already examines the suitability of board candidates in a so-called fit and proper assessment, but rules across the 19 euro zone members vary, so the quality of these checks can be inconsistent.
  • Supervisors will consider furthermore all of the diversity-related aspects that are most relevant to enhancing the individual and collective leadership of boards.
Published 19 Feb, 2021 07:55pm
Nigerian court freezes Shell accounts ahead of Aiteo lawsuit
Companies

Nigerian court freezes Shell accounts ahead of Aiteo lawsuit

  • Court documents seen by Reuters show that Aiteo is seeking compensation over what it says was the poor condition of the pipeline and associated lost oil sales.
  • SPDC is working to secure an expeditious discharge of the freezing injunction, which we believe was obtained by Aiteo without any valid basis.
Published 19 Feb, 2021 07:51pm
France's Total says it is concerned about Myanmar situation
South Asia

France's Total says it is concerned about Myanmar situation

  • The Business & Human Rights Resource Centre, a group that promotes human rights in business and tracks human rights policy of thousands of companies.
  • At this time, we are closely following the current situation in the country and working to ensure the health, safety and security of our employees and our contractors.
Published 19 Feb, 2021 07:44pm
Belarus switches oil products to Russian from EU ports
Companies

Belarus switches oil products to Russian from EU ports

  • The three Baltic nations imposed sanctions on Lukashenko and his allies following the elections and he promised to re-route oil products shipments to Russian ports in retaliation.
  • Shipments, set to start from March, would rise to 3.2 million tonnes next year and stay at 3.1 million tonnes in 2023.
Published 19 Feb, 2021 07:37pm
Rosneft and Shell have not agreed on 2021 oil supplies to PCK Schwedt refinery
Companies

Rosneft and Shell have not agreed on 2021 oil supplies to PCK Schwedt refinery

  • Under the previous contract, which expired on Dec. 31, Rosneft supplied about 100,000 tonnes a month to Shell, the offtaker for the refinery, via the Druzhba pipeline.
  • Rosneft holds a 54.17% stake in the 220,000-barrels-per-day PCK Schwedt refinery, while British-Dutch major Shell has 37.5% and Italy's Eni has a stake of 8.33%.
Published 19 Feb, 2021 07:36pm
J&J applies to WHO for emergency use listing of COVID-19 vaccine
Companies

J&J applies to WHO for emergency use listing of COVID-19 vaccine

  • J&J said an emergency use listing is a prerequisite for supplying vaccines to the COVAX vaccine program, co-led by WHO, which aims to deliver doses to poor and middle-income countries.
  • The J&J vaccine is administered in a single dose and can be stored at normal fridge temperatures, a big selling point in countries with relatively weaker healthcare infrastructure.
Published 19 Feb, 2021 07:31pm
Greece to auction 625mn euros of 6-month T-bills on Feb 24

Greece to auction 625mn euros of 6-month T-bills on Feb 24

  • The agency last sold six-month T-bills in late January, when the paper was priced to yield -0.28%.
  • The settlement date of the new T-bills will be Feb. 26. Only primary dealers will be allowed to participate and no commission will be paid.
Published 19 Feb, 2021 07:29pm
Pfizer seeks US approval to ease handling of COVID-19 vaccine
Companies

Pfizer seeks US approval to ease handling of COVID-19 vaccine

  • Pfizer/BioNTech's vaccine, along with Moderna Inc's two-dose shot, won the US emergency use authorization (EUA) and is being widely distributed as part of the country's mass vaccination efforts.
  • The data submitted may facilitate the handling of our vaccine in pharmacies and provide vaccination centers an even greater flexibility.
Published 19 Feb, 2021 07:23pm
Ghana expects first delivery of AstraZeneca vaccine shots
Africa

Ghana expects first delivery of AstraZeneca vaccine shots

  • The country will spend around $3 for every two shots of vaccine and inoculate around 20 million people against the virus, according to the plan.
  • On the estimated cost, we are looking at...for every person getting two shots, that would cost nearly $3 per person fully vaccinated for the two doses.
Published 19 Feb, 2021 07:17pm
Italy's Eni beats expectations in last quarter after 'year like no other'
Energy

Italy's Eni beats expectations in last quarter after 'year like no other'

  • The unprecedented fall in demand triggered by the COVID-19 pandemic led bigger European rivals Shell and BP and US majors Exxon Mobil and Chevron to report heavy losses for the year.
  • Eni shares fell sharply last year, hitting their lowest in a quarter of a century as the health pandemic shook oil markets.
Published 19 Feb, 2021 06:20pm
Northvolt to invest $200mn in new Polish battery plant
Companies

Northvolt to invest $200mn in new Polish battery plant

  • Securing battery cell manufacturing capacity in Europe is key for its industrial future, but what is equally critical is the industrial capacity for integrating cells into real-world solutions.
  • It is this that the new factory will deliver - sophisticated, sustainable energy storage systems to support the transformation of Europe's electricity grid and its industry.
Published 19 Feb, 2021 06:13pm
Auto parts supplier Magna rides demand rebound to forecast upbeat 2021
Companies

Auto parts supplier Magna rides demand rebound to forecast upbeat 2021

  • Pent-up demand and customers preferring to buy vehicles seeking more safety during the health crisis have lifted auto sales and boosted demand for auto suppliers.
  • The Ontario-based company expects 2021 revenue of $40 billion to $41.6 billion, above analysts' average estimate of $38.41 billion, according to Refinitiv I/B/E/S data.
Published 19 Feb, 2021 05:54pm
Deere upgrades 2021 earnings outlook on improved equipment demand
Companies

Deere upgrades 2021 earnings outlook on improved equipment demand

  • The Moline, Illinois-based company now expects annual net income in the range of $4.6 billion to $5.0 billion, higher than $3.6 billion-$4.0 billion forecast earlier.
  • Earnings for the first quarter came in at $3.87 per share compared with $1.63 per share last year. Analysts surveyed by Refinitiv, on average, expected quarterly earnings of $2.14 per share.
Published 19 Feb, 2021 05:35pm
Colonial allocates Cycle 14 shipments on distillate Line 20
Companies

Colonial allocates Cycle 14 shipments on distillate Line 20

  • The company generally announces allocations when nominations, or requests, for space to ship petroleum products on its lines exceed its ability to meet the five-day lifting cycle.
  • The cycles are five-day periods when a sequence of all in-season products is pumped.
Published 19 Feb, 2021 05:24pm
SECP incorporates Fauji Fertilizer’s technical services provider

SECP incorporates Fauji Fertilizer’s technical services provider

  • “After completing the legal formalities a wholly owned subsidiary with the name of OLIVE Technical Services (Private) Limited has been incorporated and registered with Securities and Exchange Commission of Pakistan (SECP),” informed FFC on Friday.
Published 19 Feb, 2021 03:21pm
US oil may test support at $58.13
Energy

US oil may test support at $58.13

  • A retracement analysis reveals an immediate support at $58.13, the 38.2% level, a break below which could open the way towards $56.85. A bounce from the current level may be limited to $59.33.
Published 19 Feb, 2021 11:33am
How the GameStop hearing unfolded?

How the GameStop hearing unfolded?

  • GameStop rose more than 1,000% during two weeks as retail traders using the Reddit platform encouraged each other to pile in, socking it to hedge fund managers who were short the stock - a bet GameStop would fall.
Published 19 Feb, 2021 10:09am
Aussie, kiwi steady
Money & Banking

Aussie, kiwi steady

SYDNEY: The Australian and New Zealand dollars held steady on Thursday as solid domestic data helped offset a broad...
Updated 19 Feb, 2021 09:24am
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