22 June

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Dollar catches breath as traders await Powell testimony By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar paused for breath on Tuesday as traders looked to testimony from U.S. Federal Reserve chair Jerome Powell for guidance, after a surprise shift in the central bank's policy outlook, while cyptocurrencies nursed heavy losses. The greenback has gained sharply since the Fed last week flagged sooner-than-expected interest rate hikes, but dipped on Monday to hand back a little bit of that rise. Against the euro, the dollar nursed an overnight loss of about 0.4% to steady around $1.1909. It held at 110.31 yen, and the dollar index...

22 June

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Google Shuts London Startup Hub in Home Working Pivot By Bloomberg

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(Bloomberg) -- Google’s parent firm plans to close its seven-story hub devoted to helping startups in London’s Shoreditch district and replace it with virtual services following the shift to home-working. The move comes after the pandemic showed Alphabet (NASDAQ:GOOGL) Inc. that it could serve young firms across the country without the need for a physical space, according to a statement Monday. Google was forced to offer its support programs and services online when the coronavirus struck. “The U.K. startup community doesn’t need access to a single-shared physical space as much as it needs access to resources,...

22 June

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Figs Soars As Wall Street Finds Its Apparel A Buy By Investing.com

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By Dhirendra Tripathi Investing.com – Figs (NYSE:FIGS) shares rose almost 12.5% in Monday’s trading as buy calls from many brokerages buoyed sentiment for the stock. Goldman Sachs (NYSE:GS), Credit Suisse (NYSE:CS), Morgan Stanley (NYSE:MS), KeyBanc, BofA Securities (NYSE:BAC), Cowen, Telsey Advisory, Oppenheimer (NYSE:OPY), Barclays (NYSE:BCS) and Piper Sandler were among the one who either put out a buy or an outperform rating on Figs' stock. Figs is a direct-to-consumer healthcare apparel and lifestyle brand. The medical apparel company debuted last month, pricing its shares at $22 apiece. Barclays’ Adrienne...

22 June

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Miners, industrial stocks boost FTSE 100; Morrisons surges 35% By Reuters

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By Amal S (Reuters) -London's FTSE 100 ended higher on Monday, helped by gains in mining and industrial stocks, while supermarket chain Morrisons was the top gainer on the mid-cap index following a proposed takeover offer. After falling as much as 0.98% to its lowest since May 19, the blue-chip index retreated to end 0.6% up. Base and precious metal miners, rose 0.9% and 0.2% respectively. The domestically focused mid-cap index advanced 0.6%. Morrisons surged 34.6% on hopes U.S. private equity firm Clayton, Dubilier & Rice (CD&R) might raise its proposed offer, despite its initial proposal...

22 June

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European stocks end higher as Lagarde talks up economic growth By Reuters

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By Sagarika Jaisinghani and Ambar Warrick (Reuters) - European stocks rose on Monday, led by growth-exposed sectors as encouraging comments from central bank head Christine Lagarde boosted optimism over a speedy economic recovery this year. The pan-European STOXX 600 index ended 0.7% higher at 455.23 points after falling to its lowest since June 3 earlier in the session. The index also marked its best day in nearly three weeks. Automobile and chemical stocks were the top gaining sectors, while basic resources surged 1.3% from a near three-month low. The STOXX 600 extended gains after...

22 June

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Powell to Talk Up Job Gains, Transitory Inflation in Testimony on Hill By Investing.com

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By Yasin Ebrahim Federal Chairman Jerome Powell is expected to talk up the prospect job gains in the coming months, but reiterate that the recent notable increase in inflation will likely prove transitory amid an even economy, according to prepared remarks ahead of his testimony Tuesday for the House Select Subcommittee on Coronavirus Crisis. "Since we last met, the economy has shown sustained improvement," Powell will say in prepared remarks. On the labor market job, Powell is expected to say that "job gains should pick up in coming months as vaccinations rise, easing some of the...

22 June

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Moderna Rises as Vaccine Production Set to Expand By Investing.com

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By Christiana Sciaudone Investing.com -- Moderna (NASDAQ:MRNA) rose 3.5% after The Wall Street Journal reported it would add two new production lines to make its Covid-19 vaccine. The company will increase capacity by 50% with the investment even as it expands production outside the U.S. Moderna's goal is to triple the annual output of the vaccine to about 3 billion doses in 2022 from up to 1 billion this year. Vaccine sales should top $17.1 billion this year, according to analysts, The Journal reported. But Moderna's manufacturing head said finding enough raw...

22 June

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Paylocity Gains As Cowen Reiterates Its Outperform Rating By Investing.com

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By Dhirendra Tripathi Investing.com – Paylocity (NASDAQ:PCTY) was up close to 2% in Monday’s trading after a Cowen analyst reiterated his ‘outperform’ rating with a $214 target for the stock. Bryan Bergin’s target for the stock translates into an over 16% upside from its current level of $184. According to the analyst, Paylocity is an attractive growth investment with robust fundamentals that are strengthening in tandem with the economic reopening. Paylocity is a leading provider of payroll and human capital management software solutions. Its product suite delivers a unified platform for professionals to make decisions in...

22 June

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Canada shares higher at close of trade; S&P/TSX Composite up 0.92% By Investing.com

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Investing.com – Canada equities were higher at the close on Monday, as gains in the Energy, Consumer Discretionary and Materials sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite rose 0.92%. The biggest gainers of the session on the S&P/TSX Composite were Crescent Point Energy Corp . (TSX:CPG), which rose 8.62% or 0.45 points to trade at 5.67 at the close. Enerplus Corporation (TSX:ERF) added 7.68% or 0.63 points to end at 8.83 and MEG Energy Corp (TSX:MEG) was up 7.86% or 0.68 points to 9.33 in late trade. Biggest...

21 June

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Bitcoin sees 6th straight week of outflows -CoinShares By Reuters

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By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin investment products and funds posted their sixth consecutive week of outflows, according to data on Monday from digital asset manager CoinShares as a crackdown in China spooked investors. Last week, bitcoin outflows totaled $89 million. For the year, bitcoin outflows hit $487 million, or 1.6% of assets under management, data showed. The crypto sector as a whole saw a third consecutive week of outflows amounting to $79 million last week in what is now the longest bear run in outflows since February 2018, CoinShares said. For the...

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Dollar catches breath as traders await Powell testimony By Reuters

Google Shuts London Startup Hub in Home Working Pivot By Bloomberg

Figs Soars As Wall Street Finds Its Apparel A Buy By Investing.com

Miners, industrial stocks boost FTSE 100; Morrisons surges 35% By Reuters

European stocks end higher as Lagarde talks up economic growth By Reuters

Powell to Talk Up Job Gains, Transitory Inflation in Testimony on Hill By Investing.com

Moderna Rises as Vaccine Production Set to Expand By Investing.com

Paylocity Gains As Cowen Reiterates Its Outperform Rating By Investing.com

Canada shares higher at close of trade; S&P/TSX Composite up 0.92% By Investing.com

Bitcoin sees 6th straight week of outflows -CoinShares By Reuters

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