Connect with us


Asian stocks set to rise as tech, stimulus hopes fuel global rally By Reuters



By Suzanne Barlyn

NEW YORK (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

Shares in Apple Inc (O:) surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon (O:) rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a more challenging economic environment,” Felsman said.

On Wall Street, the Nasdaq Composite () on Monday staged its biggest one-day rally in a month, jumping 2.56%. The Dow Jones Industrial Average () rose 0.88% and the S&P 500 () gained 1.64%.

The U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high, slapped by investor demand for risk. The U.S. bond market is closed on Monday for Columbus Day.

MSCI’s broadest index of Asia-Pacific shares outside Japan () closed 0.11% higher.

Australian S&P/ASX 200 futures rose 1.05% in early trading. Hong Kong’s Hang Seng index futures () () rose 0.11%.

E-mini futures for the S&P 500 rose 0.01%.

The () fell 0.078%, with the euro () unchanged at $1.1813.

The pan-European STOXX 600 index () rose 0.72% and MSCI’s gauge of stocks across the globe () gained 0.01%.

Bets that more U.S. stimulus was in the offing came despite signs that talks in Washington had stalled again, leading the Trump administration to call on Congress to pass a less ambitious coronavirus relief bill.

U.S. Senate Republicans said they will go along with what President Donald Trump wants in coronavirus relief legislation, a White House spokeswoman said on Monday.

Focus in Asia swings to China, which is expected to report an increase in exports on Tuesday.

Beijing’s tensions with Washington are also in view after the White House moved forward with three sales of advanced weaponry to Taiwan, sources familiar with the situation said on Monday.

The move in the run-up to the Nov. 3 U.S. election is likely to anger China, which considers Taiwan a renegade province.

The yuan fell 0.8% on Monday, after the central bank cut foreign exchange forward reserve requirements that effectively lowers the cost of shorting the yuan.

Investors are also closely watching the global resurgence in coronavirus cases after British Prime Minister Boris Johnson on Monday announced a new system of restrictions on parts of England. Lawmakers will vote on the move on Tuesday.

Gold added 0.1% to $1,923.62 an ounce.

In energy markets, oil prices slipped after a force majeure at Libya’s largest oilfield lifted, a Norwegian strike affecting production ended and U.S. producers began restoring output after Hurricane Delta.

Brent crude () settled down $1.13, or 2.6%, to $41.72 a barrel. U.S. West Texas Intermediate ended 2.9%, or $1.17, lower at $39.43.

U.S. banks JPMorgan (N:) and Citigroup (N:) will kick off the third-quarter earnings season on before U.S. markets open on Tuesday, followed by Goldman Sachs (N:), Bank of America (N:) and Wells Fargo (N:) on Wednesday and Morgan Stanley (N:) on Thursday.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Transport Minister opposes Tel Aviv Metro




Minister of Transport Miri Regev has told the “Globes” Israel Real Estate Conference” that she is opposed to building the planned Tel Aviv Metro and would prefer to promote infrastructures that would link outlying regions with central Israel.

Regev said, “When I came to the ministry, like most Israelis, I was sure that they were already working on the Metro because people were calling the Tel Aviv light rail the Metro. So let’s put things straight. There is a plan for three Tel Aviv light rail lines, which must provide a solution for the Gush Dan region, and there is a plan for a Metro, which will cost NIS 150 billion for the part which is in the planning stages and has been deposited for objections.”

She continued, “There are the three light rail lines in Gush Dan, which suffers most from traffic congestion, which will cost NIS 60 billion, and there is a plan for bicycle paths to link up Gush Dan, which will cost NIS 600 million. Therefore, if the (Metro) plan will be put up for implementation, I will oppose it, because I think that at the moment we need to connect outlying regions with the center with an additional railway network in parallel to the coastal railway line. That would bring about a dispersal of the population and employment and move employees from the center of the country to the north and south and to Judea and Samaria.”

So at the moment you are against moving forward with the Metro?

“We will deposit the plan. Regarding the time we need to implement it, I’ll consult with the cabinet. It’s not possible to put all the money in the Dan Metropolitan area, we need to link up Israel and if we want to create new jobs in the north and south and provide a solution for the transfer of the IDF to the Negev, we must invest in accessible and available infrastructures. It is clear that at the moment there isn’t money for both.

Instead Regev says that she wants to allocate NIS 100 billion to complete Israel Railways projects including the eastern inland railway line from Rosh Ha’ayin to Lod and extend the railway line northwards from Hadera to Kiryat Shmona and southwards from Dimona to Eilat. 

Published by Globes, Israel business news – – on October 26, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Source link

Continue Reading


IGNITE International Brands, Ltd. Enters Manufacturing Agreement With CannaPiece Corp. to Meet Overwhelming Demand for IGNITE Cannabis Products in Canada




VAUGHAN, Ontario, Oct. 26, 2020 (GLOBE NEWSWIRE) — IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods brand, is pleased to announce that it has broadened its manufacturing capabilities by signing a contract manufacturing agreement with CannaPiece Corp. (“CannaPiece”), a leading contract manufacturer of cannabis and hemp. CannaPiece operates a 50,000 square foot state-of-the-art licensed manufacturing and processing facility, with ability to expand its operations to 150,000 square feet. The operation includes R&D, Product Development, Third-Party Processing, Packaging, Large-Scale Extraction, Production of Edibles, Topicals and Concentrates with the ability to provide IGNITE Branded products to domestic markets.

“Canada has shown to be a burgeoning market for IGNITE. Collaboration with CannaPiece is a strategic move that will position IGNITE to maximize its potential in the Canadian cannabis market,” said Gene Bernaudo, Global Head of Cannabis at IGNITE. “Curating premium craft cannabis and delivering consistent products has gained the loyalty of consumers and has been essential to generating brand awareness as IGNITE continues to scale the country. Demand for IGNITE products has grown since launch and the team at CannaPiece will be instrumental to IGNITE’s ability to meet demand and deliver uber-premium cannabis products.”

“CannaPiece is excited to be the manufacturing body for IGNITE, and we look forward to leveraging our manufacturing expertise, technology and high-end equipment to offer sustainable high quality cannabis and hemp products to the Canadian market,” said Afshin Souzankar, Chief Operating Officer at CannaPiece.


IGNITE is a global consumer brand, operating in the premium product segment of the market. Founded by Dan Bilzerian, the Company’s ‘quality‐first’ approach is fundamental to the brand and its products. Originally operating in the cannabis and hemp‐derived cannabidiol (CBD) wellness space, IGNITE was able to establish its brand awareness. IGNITE product categories now include a full line of CBD oil tinctures, CBD topicals, CBD pet products and CBD vape devices, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named Z‐RO as well as a gluten‐free, seven‐time distilled vodka, and apparel produced by various partners and sold through select distributors, brick and mortar retailers, and online through the Company’s website, The IGNITE THC product line, which was launched subsequent to the CBD product line, incorporates quality, locally sourced, cannabis products.

Shares of IGNITE are listed on the CSE under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.

Further information on IGNITE can be found on the Company’s website at

For further information, please contact:

Linda K. Menzel, General Counsel
Tel: 310‐867‐3859


Headquartered in Pickering, Ontario, CannaPiece Corp. is a wholly-owned subsidiary of CannaPiece Group Inc., a Canadian based, vertically integrated cannabis company. CannaPiece Corp. is a contract manufacturer of cannabis and hemp products and provides the industry with services and products to cover gaps in the supply chain. CannaPiece offers a complete selection of high-quality services ranging from R&D, product development, third-party processing, packaging, large-scale extraction, production of edibles, topicals and concentrates as well as white-labeled products to the Canadian market.


This news release includes certain “forward‐looking statements” under applicable Canadian securities legislation. Forward‐looking statements include, but are not limited to, the success of the arrangements with CannaPiece, the ability of IGNITE to distribute its products in Canada successfully and the ability to have a successful market strategy in Canada. Forward‐looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the effects and impacts of the coronavirus disease (COVID‐19) pandemic, the extent and duration of which are uncertain at this time on IGNITE’s business and general economic and business conditions and markets; the ability of IGNITE to give effect to its business plan; reliance on the “IGNITE” brand which may not prove to be as successful as contemplated; the ability to and risks associated with unlocking future licensing opportunities with the “IGNITE” brand, and the ability of IGNITE to capture significant market share. There can be no assurance that any of the forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. The Company disclaims any intention or obligation to update or revise any forward‐looking statements, whether because of new information, future events or otherwise, except as required by law.


Primary Logo

Source link

Continue Reading


Holiday shoppers are coming to town with health checklist: survey By Reuters




© Reuters. FILE PHOTO: Black Friday ads lay on top of clothes during a sales event on Thanksgiving day at Walmart in Westbury, New York


By Nathan Frandino

(Reuters) – Holiday shoppers braving the coronavirus pandemic to buy gifts in person are checking which stores are naughty or nice in terms of public health, a worldwide survey released on Monday showed.

About 79% of respondents want to see masks being worn, 82% demand visible cleaning efforts, and 76% prioritize reduced occupancy in stores, according to the survey by Oracle Retail, a unit of software maker Oracle Corp (N:).

Contactless checkout and social distancing requirements are also paramount.

“Customers are eager to shop,” said Mike Webster, senior vice president and general manager of Oracle Retail. “What consumers are looking for is basic levels of protection and safety and they’re looking for that confidence that their needs are being looked after.”

More than 5,100 consumers were surveyed in the United States, United Kingdom, Australia, China, Brazil, Mexico, Italy, France, Germany and the United Arab Emirates in September.

The pandemic has killed more than 1.1 million people and infected more than 41.9 million worldwide, according to a Reuters tally.

Countries have imposed new restrictions as COVID-19 cases have risen again in recent weeks. Wales on Friday banned the sale of all non-essential goods in stores as part of a two-week lockdown, while regions in Italy have announced measures such as shuttering shopping centers.

San Francisco has capped occupancy for storefront retailers at 50% of the normal maximum. At the Californian city’s Union Square plaza, shoppers lined up outside the Apple (NASDAQ:) Store and Gucci, where an associate took their temperature.

“A lot of the shops that I go to, they offer hand sanitizer and seem pretty up to date on all the equipment and everything that they have in the shop, so I feel safe going into stores,” said 26-year-old Antioch resident Teino Stingley.

Nearly 20% of survey respondents said they planned to shop in-store this holiday season, while 47% plan to split between online and in-store and 16% will opt for curbside pick-up.

“I feel too many people inside of a store makes me uneasy, so I’d much prefer an outside open-air environment,” said Param Sharma, 24. “And it’s more convenient to order it on the app, pull up curbside, and have them hand it to you.”

Fellow San Francisco resident Katrin Eyjolfsdottir, 27, plans to split her shopping between going online and visiting stores for the live experience.

“That’s a big part of the whole Christmas holiday spirit,” she said. “I think the stores are doing a good job of keeping everything clean and sanitized and following the procedures.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Continue Reading


Copyright © 2017 Zox News Theme.