How the market reacted when Trump won in 2016
Analysts explained in a note this week that when Donald Trump won the 2016 U.S. presidential election, the overall market response was muted, but significant sector-specific moves occurred. The investment firm said financials, especially banks and insurance companies, led the way with substantial gains. Sallie Mae rose 37%, and Freddie Mac surged 97% within seven […]
Morning Bid: Bracing for Chinese data deluge
A look at the day ahead in Asian markets. The monthly Chinese ‘data dump’ kicks off the global trading week on Monday, with the slew of top-tier indicators likely to give investors a measure of how much the world’s second largest economy is struggling to gain momentum. Producer and consumer prices last week confirmed that […]
Saudi Arabia sets up new Aramco share sale that could raise $13.1 billion
Saudi Arabia’s government on Thursday filed papers to sell a new stake in state oil giant Aramco (2222.SE), opens new tab that could raise as much as $13.1 billion, a landmark deal to help fund Crown Prince Mohammed bin Salman’s plan to diversify the economy. In the main part of the deal, Saudi Arabia could raise $12 […]
European shares inch up as banks, tech rebound; Topdanmark shines
European shares closed marginally higher on Monday, with banks and technology stocks rebounding from losses last week after markets were startled by political uncertainty in France, while Danish insurer Topdanmark surged on Sampo’s buyout bid. The pan-European STOXX 600 closed up 0.1%, coming off its worst weekly percentage fall so far this year. Banks advanced nearly 1% […]
Chinese electric car company Nio to enter Middle East this year amid global expansion by peers
BEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint. The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said. […]