CAF pres awaits appeal decision but path opens up for successor    Egypt's Aswan Forum for Sustainable Peace and Development II closed successfully: Foreign ministry    Sisi, Burhan urge international efforts towards binding deal on GERD    Al-Sisi visits Sudan for first time after formation of new transitional government    World Bank approves $440 million for enhancing Egypt's railways    Saudi Arabia to lift most coronavirus-related curbs on Sunday: SPA    Myanmar forces fire tear gas, stun grenades on protest as UN envoy calls for action    Egyptian president to visit Sudan on Saturday morning    Tennis: Djokovic confirms return to Tour at Miami Open    Live score: Ahly (Egypt) vs. AS Vita Club (DR Congo) (African Champions League)    EXPLAINER: Why Ethiopia's deadly Tigray crisis is growing    Egypt reports 579 new coronavirus cases; 45 deaths on Friday    61st Diyarna Exhibition: Showcasing Egyptian Handicrafts    Art House partners with Cultural Development Fund to present theatrical, musical shows    Egypt stresses necessity of launching 'serious' negotiation process to reach deal on GERD before flood season    Egypt, Jordan, and Palestine reiterate call for halting Israeli settlement activities    Arab interests must be voiced unanimously to reflect unified will: Aboul Gheit    International Cooperation Ministry, AfDB sign development financing of €109m for rural Luxor sanitation services    Egypt on transformational path into regional energy trade centre: Petroleum Minister    Messi serves as bright spot in Barcelona's disastrous season    Zamalek ready with striking force against Esperance Tunis    Egypt clubs protest Football Association decision to cover costs of COVID-19 tests    Planning Ministry prioritises Upper Egypt development under coherent, integrated programme    Egypt, Sudan finalise agreement strengthening military cooperation    Egypt's National Council for Women launches awareness campaign on nutrition education    Yemen's Houthis fire missile at Saudi Aramco site in Jeddah    Al-Sisi, Guinea-Bissau counterpart discuss counterterrorism, GERD negotiations    Hassan Allam wins contract to manage, operate Grand Egyptian Museum    March: The month of celebrating women    Egypt launches ‘Closing the Gender Gap Accelerator' action plan    Egyptian Journalists' Syndicate midterm elections postponed to 19 March    Moody's completes periodic review of ratings of GIG Insurance – Egypt    Egypt improves ranking on Heritage Foundation's Index of Economic Freedom    A Happy Purrfect Rescue Story of 4 Cats in Thailand    Spotify competitor Anghami to become first Arab tech firm to list on Nasdaq, eyes plans for Egypt    Egypt's Zamalek arrive in Tunisia to face Esperance in CAF Champions League    Winston Churchill's Moroccan landscape painting owned by Angelina Jolie sells for $11.5M    Syrian pound hits new low in contagion from neighboring Lebanon's currency crisis    Orascom Construction to build Magdi Yacoub Global Heart Centre    Respect for diversity    Huawei launches HUAWEI FreeLace Pro in Egypt with extra-long battery life and top-grade noise cancellation    Enhanced Labs signs Mr. Olympia 2020 "Big Ramy" And His Trainer Dennis James    1st hours of registration for coronavirus vaccine seen 7,000 Egyptians signing up: ministry    King Tutankhamun funerary mask is must-see tourist icon: The Telegraph    Egypt eyes gradual return for tourism after revenues fall to $4 bln in 2020    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    Coronavirus strikes Egypt's youth team as 17 players, coach test positive    Egypt, Ethiopia, Sudan to resume Nile dam talks today    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Global stocks advance after Trump signs $900B aid package
Published in Ahram Online on 28 - 12 - 2020

Global stock markets and US futures rose Monday after President Donald Trump signed a $900 billion economic aid package, helping to reduce uncertainty as governments re-impose travel and business curbs in response to a new coronavirus variant.
London and Frankfurt opened higher as traders returned to work following a three-day Christmas weekend. Shanghai and Tokyo also advanced.
Trump signed the measure, which also includes money for other government functions through September, despite expressing frustration that $600 payments to the public weren't bigger. His signature following last-minute objections helped to clear away uncertainty as reinstated travel and business curbs threaten to weigh on global economic activity.
``The stimulus balloon will allow the markets to navigate better the number of new air pockets showing up on the radar due to the virus's latest variant,'' said Stephen Innes of Axi in a report.
In early trading, the FTSE 100 in London rose 0.1% to 6,502.11 and the DAX in Frankfurt advanced 1.2% to 13,756.71. The CAC 40 in France gained 0.5% to 5,548.55.
On Wall Street, the future for the benchmark S&P 500 index was 0.6% higher and that for the Dow Jones Industrial Average was up 0.4%.
On Thursday, the S&P 500 index rose 0.4% in its last pre-Christmas trading day. The Dow added 0.2%. The Nasdaq composite gained 0.3%.
In Asia, the Shanghai Composite Index rose less than 0.1% to 3,397.29 while the Nikkei 225 in Tokyo added 0.7% to 26,854.03.
The Hang Seng in Hong Kong declined 0.3% to 26,314.63 after e-commerce giant Alibaba Group announced it was expanding a share buyback from $6 billion to $10 billion.
Alibaba shares declined 7% following last week's announcement of an anti-monopoly investigation and the suspension of the stock market debut of Ant Group, an online finance platform in which Alibaba owns a 33% stake.
In Seoul, the Kospi rose less than 0.1% to 2,808.60 while India's Sensex added 0.8% to 47,336.65.
Singapore and Jakarta advanced. Australian markets were closed.
Investors have been encouraged by the development of coronavirus vaccines but that optimism has been dented by the discovery of the more contagious variant.
On Monday, South Korea reported its first cases of the new variant in three people who arrived from Britain. Over the weekend, Japan also reported cases and re-imposed limits on entry into the country by non-resident foreigners. It also said both Japanese and foreign residents would be required to show coronavirus test results on arrival and to observe quarantines.
In energy markets, benchmark US crude rose 21 cents to $48.44 per barrel in electronic trading on the New York Mercantile Exchange. On Thursday, the contract rose 11 cents to close at $48.23. Brent crude, the basis for pricing international oils, advanced 18 cents to $51.52 per barrel in London. It rose 9 cents the previous session to $51.29 a barrel.
The dollar declined to 103.43 yen from Friday's 103.68 yen. The euro rose to $1.2216 from $1.2180.

Clic here to read the story from its source.