AstraZeneca said its Covid-19 vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen. However, its shares dropped 1%.(File photo for representation)
AstraZeneca said its Covid-19 vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen. However, its shares dropped 1%.(File photo for representation)

Coronavirus vaccine hopes drive European stocks higher

European shares jumped on Monday as encouraging developments around a coronavirus vaccine spurred bets of a faster economic revival globally, even as a surge in infection rates clouded near-term outlook.
By Reuters | Posted by Niyati Singh
UPDATED ON NOV 23, 2020 02:35 PM IST

European shares jumped on Monday as encouraging developments around a coronavirus vaccine spurred bets of a faster economic revival globally, even as a surge in infection rates clouded near-term outlook.

AstraZeneca said its Covid-19 vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen. However, its shares dropped 1%.

The pan-European STOXX 600 index rose 0.5% by 0810 GMT and hit a fresh high since late February, with energy and banks leading early gains.

The benchmark index clocked a third straight week of gains on Friday following recent Covid-19 vaccine breakthroughs.

Euro zone and UK business activity data for November are due later in the day, with investors looking to gauge the impact of the Covid-19 pandemic on the manufacturing and services sectors.

In company news, French bank Credit Agricole jumped 3.9% after its Italian unit launched an offer to buy Italian bank Credito Valtellinese (Creval).

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US stocks are rising again climbing toward records on stronger-than-expected earnings reports and continued optimism that an economic recovery is on the way. (AP)
US stocks are rising again climbing toward records on stronger-than-expected earnings reports and continued optimism that an economic recovery is on the way. (AP)

US stocks near records ahead of Biden inauguration

AP
PUBLISHED ON JAN 20, 2021 08:34 PM IST
Joe Biden will take the oath of office to become US president later in the day, and he has a flurry of executive actions at the ready.
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According to the data, around 6.41 lakh new members joined EPFO in November 2020.(HT Photo)
According to the data, around 6.41 lakh new members joined EPFO in November 2020.(HT Photo)

Latest payroll data says new enrollments to EPFO slips to 10.11 lakh in Nov 2020

PTI, New Delhi
PUBLISHED ON JAN 20, 2021 08:13 PM IST
Provisional payroll data released by the Employees' Provident Fund Organisation (EPFO) last month had shown that net new enrolments were at 11.54 lakh in October 2020.
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Sensex ends at record high of 49,792, Nifty at 14,645(PTI)
Sensex ends at record high of 49,792, Nifty at 14,645(PTI)

Sensex ends at record high of 49,792, Nifty at 14,644

PTI, Mumbai
UPDATED ON JAN 20, 2021 04:22 PM IST
World stocks advanced on Wednesday after US Treasury Secretary nominee Janet Yellen called for a hefty stimulus to protect the US economy.
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Saudi shipments to China in 2020 were rose 1.9% from a year earlier to 84.92 million tonnes. In picture - Saudi Aramco's Ras Tanura oil refinery and oil terminal.(Reuters)
Saudi shipments to China in 2020 were rose 1.9% from a year earlier to 84.92 million tonnes. In picture - Saudi Aramco's Ras Tanura oil refinery and oil terminal.(Reuters)

Saudi Arabia edges past Russia to become China's biggest oil supplier in 2020

Reuters, Beijing/singapore
PUBLISHED ON JAN 20, 2021 03:07 PM IST
Russia was a close second with shipments of 83.57 million tonnes, or 1.67 million bpd, up 7.6% from 2019.
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Tesla shares, which were included in the S&P 500 index this week, have surged eightfold this year ahead of the addition to the benchmark index’s measure.(AP)
Tesla shares, which were included in the S&P 500 index this week, have surged eightfold this year ahead of the addition to the benchmark index’s measure.(AP)

Tesla faces bumpier ride breaking into India after China success

Bloomberg
PUBLISHED ON JAN 20, 2021 02:35 PM IST
PM Modi’s administration is planning to offer about 1.7 trillion rupees in incentives to attract global companies to set up manufacturing, people with knowledge of the matter said in September.
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Amazon Great Republic Day Sale 2021 begins(Reuters image)
Amazon Great Republic Day Sale 2021 begins(Reuters image)

Amazon Great Republic Day Sale 2021 begins: All you need to know

By hindustantimes.com | Edited by Karan Manral
UPDATED ON JAN 20, 2021 11:10 AM IST
Here's everything you need to know about Amazon’s latest offering to its customers.
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The assault on Ma’s trillion-dollar corporate empire encapsulates a broader campaign to rein in a generation of Chinese tech giants that Beijing now views as wielding too much control over the world’s No. 2 economy.(AP file photo)
The assault on Ma’s trillion-dollar corporate empire encapsulates a broader campaign to rein in a generation of Chinese tech giants that Beijing now views as wielding too much control over the world’s No. 2 economy.(AP file photo)

Jack Ma emerges for first time since crackdown on Ant, Alibaba

Bloomberg
UPDATED ON JAN 20, 2021 12:07 PM IST
China’s most recognizable entrepreneur addressed scores of teachers on an online conference Wednesday, part of an annual event the billionaire hosts to recognize the achievements of rural educators.
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After opening on a negative note, the 30-share BSE Sensex was up by 17.84 points or 0.04 per cent at 47,764.06 in morning session.(PTI)
After opening on a negative note, the 30-share BSE Sensex was up by 17.84 points or 0.04 per cent at 47,764.06 in morning session.(PTI)

Sensex rallies over 170 points in early trade; Nifty tops 14,590

PTI
UPDATED ON JAN 20, 2021 10:01 AM IST
Analysts said Indian stocks took cues from global equities which rose to record highs after US Treasury Secretary nominee Janet Yellen called for a hefty fiscal relief package.
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The price range for the IPO has been fixed at <span class='webrupee'>₹</span>25-26 per share.(Representative photo.)
The price range for the IPO has been fixed at 25-26 per share.(Representative photo.)

IRFC IPO closes today, was oversubscribed 1.22 times on Tuesday

By hindustantimes.com | Edited by Amit Chaturvedi
PUBLISHED ON JAN 20, 2021 08:07 AM IST
The IRFC, set up in 1986, is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets.
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A bankrupt company and its assets cannot face criminal proceedings once it is sold to new owners," the apex court said.(Biplov Bhuyan/HT File Photo)
A bankrupt company and its assets cannot face criminal proceedings once it is sold to new owners," the apex court said.(Biplov Bhuyan/HT File Photo)

Supreme Court upholds laws protecting new owners of bankrupt companies

ANI, New Delhi
PUBLISHED ON JAN 20, 2021 07:58 AM IST
The top court upheld the Section 32A of the Insolvency and Bankruptcy Code (IBC) granting statutory immunity to successful resolution applicant from prosecution.
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Joe Biden has already outlined a $1.9 trillion stimulus package proposal last week, saying bold investments were needed to jump-start the US economy.(Reuters)
Joe Biden has already outlined a $1.9 trillion stimulus package proposal last week, saying bold investments were needed to jump-start the US economy.(Reuters)

Hopes of new US stimulus, liquidity drive up markets

By Nasrin Sultana, Mumbai
PUBLISHED ON JAN 20, 2021 04:37 AM IST
Shares across global markets climbed on Tuesday ahead of Janet Yellen’s confirmation speech as US Treasury secretary. Yellen is expected to tell the senate finance committee that the government must “act big” with its next coronavirus relief package.
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In the public sector, major areas of new spending were roads, water supply, community services, and irrigation
In the public sector, major areas of new spending were roads, water supply, community services, and irrigation

Govt’s infra push drives up project tenders in Q3

By Tanya Thomas, Mumbai
UPDATED ON JAN 20, 2021 06:10 AM IST
Rising spending on productive assets such as roads, ports and factories support economic growth but the slow pace of growth in the December quarter indicates that recovery may still be on shaky ground and state governments have not fully recovered from the economic disruption caused by the pandemic.
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Petrol and diesel became costlier by 25 paise per litre on Tuesday in the Capital(Reuters)
Petrol and diesel became costlier by 25 paise per litre on Tuesday in the Capital(Reuters)

Govt may not reduce excise duty on fuel soon: Official

By Rajeev Jayaswal, New Delhi
PUBLISHED ON JAN 20, 2021 12:21 AM IST
The retail inflation, as measured by the Consumer Price Index (CPI), was at a 77-month high at 7.6% in October. Although it softened a bit to 6.9% in November, it was still above the Reserve Bank of India’s medium-term target of 4%, with a band of plus or minus 2%.
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Investment bankers and traders have carried the load for their firms this year as consumer divisions came under pressure from the Covid-19 outbreak that shut down businesses and put millions out of work.(REUTERS)
Investment bankers and traders have carried the load for their firms this year as consumer divisions came under pressure from the Covid-19 outbreak that shut down businesses and put millions out of work.(REUTERS)

Bank of America’s trading unit falls short of rivals during bumper year

Bloomberg
PUBLISHED ON JAN 19, 2021 08:03 PM IST
Revenue from sales and trading rose 7% to $3.06 billion in the fourth quarter, missing analysts’ $3.15 billion forecast.
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The bank's shares surged 2.6% in early trading, adding to a 20% gain in the past year.(REUTERS)
The bank's shares surged 2.6% in early trading, adding to a 20% gain in the past year.(REUTERS)

Goldman Sachs profit more than doubles on underwriting, trading boost

Reuters
PUBLISHED ON JAN 19, 2021 07:56 PM IST
Revenue from global markets, which houses the bank's flagship trading business, registered its best annual performance in a decade. Sales at the unit surged 23% to $4.27 billion in the quarter, raking in $21.2 billion in the full year.
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