Markets & Industries
Companies raise record $350B in IPOs in 2021 - 06/28/2021
Companies around the world raised a record $350bn in IPOs in the first half of 2021. Online retailers and renewable energy firms were particularly popular. The boom in IPOs was fuelled by rising stock markets and private investor activity. For the first six months of 2021, companies around the world raised about $ 350 billion at their IPOs, says Bloomberg citing its own data. Thus, the global IPO...
Electricity prices in Europe peak in the middle of heatwave - 06/28/2021
The abnormal heat wave resulted in a sharp increase in electricity prices in the Baltics and Eastern Europe, with spot prices in some countries momentarily exceeding record levels of €100 per MWh. Demand for energy has been rising since early June, but more expensive fossil-fired power plants have had to make up the shortfall due to weak winds. Spot electricity prices in a number of EU countries...
Platinum rises on industrial demand recovery expectations - 06/25/2021
The platinum group is recovering from last week's slump. Platinum rose by 8% to $1,100 an ounce in the interbank market since the beginning of the week. According to Reuters, quotations of platinum rose above $1100 per troy ounce on June 24. This result is more than 8% higher than the value of the beginning of the week. Palladium rose a comparable 7.7% to $2654 an ounce. The platinum group metals...
FT: Maritime freight costs rise to record levels - 06/24/2021
Cost of shipping has risen to a record this year, with the price per container shipped from Asia to Northern Europe exceeding $11,000 for the first time, up from $2,000 in October. This price increase is linked to the disruption to global supply chains, which has been exacerbated in recent weeks by an outbreak of coronavirus in the world's third-largest port. Maritime freight prices have risen to...
China sets to squeeze France out of the wine market - 06/22/2021
China wants to turn its main wine-producing region, Ningxia, into a rival to France's Bordeaux, squeezing the country out of that market, CNBC writes. The region is set to produce 600 million bottles worth 20 billion yuan ($3.12 billion) by 2035. "If this target is achieved, Ningxia will become an important and influential producer worldwide, comparable to the scale of Bordeaux," said Director of...
Gas prices soar in Europe because of the heatwave - 06/21/2021
Gas prices in Europe have soared to $363 per thousand cubic metres because of the heat. This is the highest since the beginning of March 2018. The average "day-ahead" contract price on the TTF since the beginning of 2021 has already been $264 per thousand cubic metres. The heat wave is provoking an increase in energy consumption for air conditioning, as power plants are consuming more gas...
May car sales in the EU up 53.4% - 06/18/2021
Last month, new car sales in Europe increased by 53.4% compared to May 2020. According to the Association of European Automobile Manufacturers (ACEA), 891,665 cars were sold in the region in May this year. However, while this is significantly better than May 2020, when the car market was barely moving in the pandemic, it is still a long way from May 2019, when 1.2 million cars were sold....
The world is on the brink of a global bicycle shortage - 06/18/2021
Every country in the world is on the brink of a bicycle shortage due to an incredible increase in demand for the product during a pandemic. The Guardian reports that Halfords, a major British sports and travel equipment chain, has shared its global forecasts. Halfords CEO Graham Stapleton warned of a possible bike shortage, citing how the company managed to improve its financial performance...
Leading traders forecast possible rise in oil prices to $100 a barrel - 06/17/2021
Major commodity traders are predicting a possible return of oil prices to $100 a barrel. The price of oil, in their view, will be affected by a slowdown in investment in new supply amid peak demand. The world's largest commodity traders do not rule out a rise in oil prices to $100 per barrel. They stated this at the conference FT Commodities Global Summit, reports Financial Times. The cost of...
Fitch improves global GDP growth forecast for 2021 - 06/16/2021
International rating agency Fitch Ratings has improved its forecast for global GDP growth in 2021 to 6.3% from the 6.1% expected in March, the agency said in its June GEO - World Economic Outlook. "Incoming data, an earlier opening of the services sector in the US and Europe, and the impact of support measures underpin the revision," the agency said in a statement. Global GDP growth will slow to...
