Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new coronavirus cases in some parts of the world undermined prospects for a quick economic recovery. Oil prices fell on oversupply fears.
Sterling was steady at $1.2545 and at 89.96 pence against the euro on Wednesday, a day after hitting three-week highs against both currencies, ahead of expected British moves to prevent a full-blown unemployment crisis.
Shares in Nokia fell 8% in Wednesday morning trade on concerns that the Finnish company was losing the business of its key client Verizon in the United States.
Analysts cut their forward 12-month earnings estimates for Asian companies for a fifth consecutive month in June, citing the economic fallout from the coronavirus pandemic.
Japanese government bond prices rose on Wednesday as the resurgence of coronavirus cases around the world underpinned appetite for safe-haven debt at the expense of riskier stocks.
Asian stocks dithered on Wednesday as an increase in coronavirus cases in some parts of the world undermined prospects for a quick economic recovery while oil prices eased on oversupply fears.
Japan's service sector sentiment jumped at a record pace in June, a Cabinet Office survey revealed on Wednesday, indicating the economy may have reached the bottom of its coronavirus-induced slump.
(RTTNews) - AstraZeneca (AZN.L, AZN) and Merck & Co., Inc. (MRK) announced Wednesday that Lynparza (olaparib) has been approved in the European Union or EU for patients with germline BRCA-mutated (gBRCAm) metastatic pancreatic cancer.
AstraZeneca Plc and Merck & Co Inc said on Wednesday their blockbuster cancer treatment Lynparza won approval in the European Union for treating patients with a form of pancreatic cancer.
China's Nanjing Iron & Steel Co Ltd said on Wednesday it has completed its first blockchain-backed trade in iron ore after booking a $16.87 million shipment of the steelmaking ingredient from a joint venture of miner Rio Tinto.
The French economy is set to rebound sharply in the second half of the year after an unprecedented slump in the first half due to the coronavirus lockdown, the INSEE statistics agency said on Wednesday.
Century bonds and green bonds, the first 20-year U.S. Treasury issue in decades, securities for mom-and-pop investors and with growth-linked payouts -- a borrowing binge is forcing governments to think creatively to get the funds they need.
Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new lines.
Indian police have arrested 12 LG Polymers officials, including its South Korean chief executive, an officer said on Wednesday, two months after a gas leak at the company's south India chemical plant killed 12.
Australia's double world champion snowboarder Alex Pullin drowned while spear fishing off a Gold Coast beach on Wednesday, plunging the country's winter sports community into mourning.
The dollar held onto gains on Wednesday as a resurgence of the coronavirus in the United States and the return of lockdowns in some countries boosted safe-haven demand for the U.S. currency.
What happened
Shares of inverter manufacturer Enphase Energy (NASDAQ: ENPH) fell 18.3% in June, according to data from S&P Global Market Intelligence after a short-seller report questioned the company's financials.
Orders for infrastructure materials and equipment have helped industrial output recover faster in China than most places emerging from COVID-19 lockdowns, but further expansion will be hard to attain without stronger broad-based demand and exports.
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