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NEW YORK: Oil prices ended nearly 3% higher on Tuesday as hopes that a COVID-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus.
LONDON/NEW YORK: Short sellers betting against European and U.S. travel, leisure and bank stocks lost billions of dollars on Monday, after news of a COVID-19 vaccine triggered a rally in shares of companies that have suffered under months of virus-fueled restrictions and lockdowns.
MONDAY’S very favourable news from Pfizer Inc – that its Covid-19 vaccine candidate was found to be more than 90% effective at preventing disease in early clinical-trial results – raises hopes for a day, and soon, the pandemic will be behind us.
BENGALURU: Thailand's baht hit a 10-month peak on Wednesday as foreign investors flocked to the country's high-yielding debt and equity markets after progress in a Covid-19 vaccine trial lifted prospects for the trade- and tourism-dominated economy.
NEW YORK: Tech pushed the Nasdaq to close sharply higher and oil prices extended their rally on Wednesday, as hopes of potential COVID-19 were tempered by spiking coronavirus infections and the looming threat of a new round of lockdowns.
LONDON: Global oil demand will rebound more slowly in 2021 than previously thought because of rising coronavirus cases, OPEC said on Wednesday, hampering efforts by the group and its allies to support the market.
NEW YORK: Global oil benchmark Brent rose on Wednesday, briefly touching a more than two-month high above $45 a barrel on hopes of a COVID-19 vaccine that could boost demand and later pulling back as concerns about rising cases overtook bullish news.
MELBOURNE: Oil prices rose in early trade on Thursday, taking the week's gains to more than 12% on growing hopes that the world's major producers will hold off on a planned supply increase as soaring cases of COVID-19 dent fuel demand.
BENGALURU: Walt Disney Co's rapidly growing streaming video business and a partial recovery at its theme parks gave investors fresh hope on Thursday that the entertainment company had made it through the worst of the coronavirus pandemic.
NEW YORK: The S&P 500 notched a record closing high on Friday with upbeat earnings reports helping to drive optimism about the economy along with hopes for successful Covid-19 vaccines, even as investors monitored a surge in virus cases and restrictions around the country.