New Covid variant shakes global markets with oil falling 5%

Registered Nurse Savanah Wagstaff watches as Aliza Burns, a nursing student at Brigham Young University-Idaho, treats a coronavirus (COVID-19) positive patient in her isolation room at Madison Memorial Hospital in Rexburg, Idaho, USA, October 28, 2021. Shannon Stapleton | Reuters Global markets stalled on Friday after news of a highly mutated Covid-19 variant first discovered … Read more

Concerns over a new Covid variant

The pan-European Stoxx 600 tumbled 2.6% in early trading, with travel and leisure stocks cratered by more than 4% to make losses as all sectors and major stock markets plunged sharply into negative territory. European investors were already watching the acute Covid crisis in the region this week amid rising infections that have prompted a … Read more

South African rand hits new Covid fear, variant

South African rand. RapidEye | iStock | Getty Images The South African rand fell sharply against the dollar on Friday after a new variant with many mutations was discovered in the country. The currency fell to as low as 16.2391 against the dollar during Asia’s opening hours on Friday and last traded about 1.6% weaker … Read more

European markets face Covid headwinds

LONDON – European equities rose on Thursday as investors continued to monitor the Covid crisis in the region and political developments in Germany. The pan-European Stoxx 600 added 0.5% in early trading, with technology stocks rising 1.1% to advance while telecommunications fell 0.5%. Investors digest the latest news from Germany, where a new coalition government … Read more

Merkel pushes for German lockdown blocked as death toll exceeds 100,000

BERLIN, GERMANY – SEPTEMBER 22: German Chancellor Angela Merkel (L) speaks with Deputy Chancellor and Federal Minister of Finance Olaf Scholz. Pool | Getty Images News | Getty Images Germany’s Covid-19 crisis continues to shake the nation with the grim news on Thursday that the total number of deaths has now exceeded 100,000. However, the … Read more

The IEA chief criticizes artificial density in the energy markets

Petroleum pumping jacks are depicted in the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority has said some countries had failed to take a helpful position in calming rising oil and gas prices and criticized “artificial density” in energy markets. “[A] factor that I … Read more

Ethiopian Prime Minister Abiy Ahmed joins the front line as the conflict against the rebels intensifies

Ethiopian Prime Minister Abiy Ahmed Ali and his wife Zinash Tayachew attend a memorial service for the victims of the Tigray conflict organized by the city administration in Addis Ababa, Ethiopia, on November 3, 2021. Ethiopian Prime Ministry | Anadolu Agency | Getty Images Ethiopian Prime Minister Abiy Ahmed has reportedly traveled to lead his … Read more

Turkey’s uncertainty leaves little appeal for investors, says strategist

Turkish President Recep Tayyip Erdogan (C) makes a gesture while giving a speech on stage, with on the basis of banknotes of the Turkish lira, during the annual evaluation meeting for the year 2019. Ankara, 16 January 2020. ADEM ALTAN | AFP The unpredictability of Turkey’s fiscal and monetary policy means investors should stay away … Read more

Investors digest data, Covid rise

LONDON – European equities rose on Wednesday as investors watched the latest data from the eurozone and the region’s latest Covid rise. The pan-European Stoxx 600 added 0.4% in early trading, with oil and gas stocks rising 1% to lead progress, while travel and leisure stocks fell 0.6%. European markets continue to monitor the acute … Read more

Oil heading for $ 100 despite US efforts to release reserves: Analyst

Oil prices could rise higher despite the United States and other major consumers releasing millions of barrels of oil from their reserves to try to keep energy prices down, an analyst told CNBC. “It’s not going to work, simply because the strategic petroleum reserve – every country’s strategic oil reserve is not there to try … Read more