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Stocks higher on vaccine optimism - Monday Review, March 1

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Miguel A. Rodriguez
Miguel A. Rodriguez
02 March 2021
European and Asian manufacturing data impressed investors

The US

The stocks closed higher, driven by positive vaccine news and stimulus progress. USA30 added 2.1%, and USA500 was up 2.6%. TECH100 jumped 2.9%.

Crude oil traded at $62.66 per barrel after it went up 1.9%.

Gold settled at $1,723 per ounce after it lost 0.3%, marking the fifth consecutive session loss.

 

Asia and Australia

HongKong45 gained 0.72% as investors were awaiting the outcome of the Hang Seng Indexes Co. industry meeting over the proposed changes to the index.

Japan225 jumped 2.19% after the manufacturing PMI reading of 51.4 in February came above the 50.6 forecasted.

Down under, Australia200 rose 1.15% as the Reserve Bank is due to hand down its monetary policy on Tuesday.

 

Europe

Germany30 traded 1.1% higher. France40 rose 1.5%, and UK100 climbed 1.7%. The PMI data came in higher than forecasted at 57.9 in February from a previous 54.8.

Brent oil rose 1.9% to $65.63 per barrel.

EUR/USD traded at 1.2051 after it lost 0.2%.

Sources: reuters.com, investing.com

This information/research prepared by Andreas Thalassinos does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.