MARKET UPDATE

Bitcoin slumps to lowest since September

Bitcoin on Friday slumped as much as 5% to its lowest since late September, tumbling under $41,000 amid a broader sell-off for cryptocurrencies.Bitcoin was last down 3.7% after touching $40,938, its lowest since Sept. 29. The world’s biggest cryptocurrency has lost over 40% since hitting a record high of $69,000 in November and the volatility that has plagued it since its birth 13 years ago remains stubbornly present.

 

Oil heads for best week since mid-Dec, Kazakhstan unrest stokes supply worries

Oil prices edged up on Friday, heading for their biggest weekly gains since mid-December, fuelled by supply worries amid escalating unrest in Kazakhstan and outages in Libya.

 

Dollar Edges Lower as U.S. Jobs Data Loom Large

The U.S. dollar edged lower in early European trade Friday, but remains largely in favour ahead of the release of the monthly official U.S. employment report which could reinforce the case for early Federal Reserve interest rate hikes.

 

German exports rise, output falls slightly in November

German exports grew in November despite persisting supply bottlenecks in manufacturing, as imports and industrial output both fell, data showed on Friday.The mixed data reflect the German economy’s struggles to overcome the bottlenecks as well as restrictions introduced to contain a spreading fourth wave of the coronavirus driven by the Omicron variant.

 

UK house prices rise at fastest rate since July 2007

British house prices in December were 9.8% higher than a year earlier, the sharpest annual increase since the eve of the global financial crisis in July 2007, monthly figures from mortgage lender Halifax showed on Friday. House prices rose by 1.1% in December alone, the same increase as in November, and recorded their biggest quarterly rise since November 2006.

 

Shell pursues $7 billion buyback ‘at pace’ despite LNG troubles

Royal Dutch Shell  said it will pursue its $7 billion share buyback programme after selling its U.S. shale business “at pace” as its liquefied natural gas (LNG) production was hit once again by unplanned outages. Fuel sales were also hit by a slowdown in global economic activity due to the spread of the Omicron COVID-19 variant, Shell said on Friday in a trading update ahead of its quarterly results on Feb. 3.

 

 

 

 

 

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