MARKET UPDATE

Oil slumps on jitters over vaccine efficacy

Oil prices tumbled more than 3% on Tuesday after Moderna (NASDAQ:MRNA)’s CEO cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets.

 

Dollar Weakens; Yen, Swiss Franc Favored as Omicron Fears Rise

The dollar retreated Tuesday as fresh concerns about the impact of the omicron coronavirus variant prompted a rush into the safe havens, the Japanese yen and the Swiss franc.

 

Volvo Cars sees chip shortage extending into 2022, Q3 profit dips

Volvo Cars warned on Tuesday that the sector-wide semiconductor shortage would continue into next year, as its first quarterly report since listing on the stock market a month ago confirmed a dip in revenue and profit.

 

Dubai government considering Emirates IPO – airline president

The Dubai government is considering an initial public offering of Emirates airline, the flagship carrier’s President Tim Clark said on Monday, as authorities work to boost activity on the local stock market.

 

Swiss franc rises to six year high as central bank stands back

The Swiss National Bank is no longer standing in the way of the franc’s appreciation, according to data published on Monday, in an eye-catching change in view of the safe-haven currency’s rise to its highest against the euro in more than six years.

 

 

Source: Investing.com

 

 

 

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