Markets & Industries
Shanghai may overtake Hong Kong by total IPOs volume - 11/02/2021
Shanghai could overtake Hong Kong this year by the number of IPOs held, as well as by the amount raised in such offerings. This writes Bloomberg, whose analysts have studied the data on past and in the near future planned IPO on the two largest stock exchanges in the Asia-Pacific region. 65 IPOs were held in Hong Kong since the beginning of the year, with total sum raised reaching $ 34.6 billion....
Altcoin for 'Squid Game' collapses to zero from record $2,800 - 11/02/2021
The cryptocurrency SQUID, created for a project based on the series Squid Game, has fallen in value to near zero, having reached a record $2,860.00 earlier on Monday, according to trading data. According to CoinMarketCap, a portal that tracks cryptocurrency trading on major exchanges, Squid cryptocurrency was down 99.99% overnight, to $0.003163. The cryptocurrency reached a record $2,861.8 per...
China's PMI declines for the second month in a row - 11/01/2021
China's business activity index (PMI) for the manufacturing sector stood at 49.2 points in October, the National Bureau of Statistics said. This is the second consecutive month of falling of the country's industrial production rate. China's PMI reading was 49.6 points in September. A reading below 50 points indicates a slowdown in business activity and this was the first decline in 18 months. The...
Eurozone GDP rises better than forecast in third quarter - 10/29/2021
The GDP of 19 eurozone countries, according to the first estimate, grew by 3.7% year-on-year and 2.2% quarter-on-quarter in the third quarter of 2021, the European statistical agency Eurostat said. Analysts polled by DailyFx expected eurozone GDP to grow by 3.5% year-on-year and 2% quarter-on-quarter in the third quarter. GDP in the European Union in the third quarter, according to the first...
Analysts: The gold market is in a balance of supply and demand - 10/28/2021
In the third quarter, the global gold market saw a noticeable reduction in supply, but gold prices are not rising, remaining close to $1,800 per ounce. Professional investors are among those reducing their investments in gold, while private investors, especially from India and China, as well as the jewellery industry, are increasing their purchases. Demand for gold from central banks also...
Climate start-ups raise $32B from investors since the start of the year - 10/27/2021
Technology start-ups aiming to fight climate change have raised $32bn from venture capitalists since the start of the year. This was reported by CNBC, citing a joint report by research firms Dealroom and London & Partners. This exceeds the amount of money raised by such startups in all of last year and is almost five times the amount raised in 2016 ($6.6bn), when investors started to pay more...
Online broker Robinhood reports quadruple drop in crypto-trading activity - 10/27/2021
Equity trading app Robinhood reported significant revenue declines in the third quarter. Crypto-trading activity and cryptocurrency revenues fell the most, more than four times compared to the second quarter. Online broker Robinhood reported a big drop in revenue in the third quarter, as cryptocurrency trading on the company's app fell by more than four times, CNBC reports. The downward trend in...
Nigeria launches its own digital currency - 10/26/2021
Nigerian President Muhammadu Buhari has announced the country's digital currency, the eNaira. eNaira is the first state electronic currency in the region. The coin was developed for the country's government by Barbados-based firm Bitt. The currency was first scheduled to be introduced on October 1, but the event was postponed due to celebrations marking Nigeria's Independence Day. Authorities...
NYSE launches trading in cryptocurrency fund shares for the first time - 10/21/2021
The New York Stock Exchange began trading the shares of the first US index fund (ETF), which deals only with cryptocurrencies. ProShares shares with the ticker symbol BITO jumped 3% immediately after the opening, but then lost some of their momentum and by the middle of the trading session were 1.4% above the opening level. The fund does not trade the cryptocurrency itself, but rather...
FT: Global car industry is facing shortages of magnesium from China - 10/20/2021
Worldwide car production could come to a halt as early as next year as China experiences significant supply disruptions of magnesium, a key ingredient in the creation of aluminium alloys used in cars. According to the Financial Times, the energy crisis in China has forced authorities in Shaanxi province to close 35 of 50 magnesium smelters about a month ago. The rest were told to halve production...
