Turkish stocks have entered a bear market amid rising tensions in the Middle East, further impacting already weak investor sentiment. Local investors are increasingly wary, driven by economic uncertainties and reduced appeal of equities.
Shares of EVgo Inc. jumped significantly, marking their largest surge in over three years. This boost follows the announcement that the company has secured a conditional loan guarantee of up to $1.05 billion from the US Department of Energy. The funding will be used to expand EVgo's electric vehicle charging network.
Emerging-market currencies fell on Thursday as escalating tensions in the Middle East increased demand for the safe-haven dollar. Additionally, strong US economic data reinforced expectations that the Federal Reserve will slow down the pace of interest rate cuts.
Ghana has received strong support from its international bondholders to restructure $13 billion of eurobonds. This marks a significant step towards finalizing the nation's debt restructuring efforts. The overwhelming participation reflects confidence in Ghana's economic recovery strategy.
Citigroup Inc. has reached a settlement in an employment lawsuit with a former trader who was found to have been unfairly dismissed. A court ruled that he was scapegoated for the bank’s long-term regulatory failures in executing stock trades for clients in Asia.
The pound is set to experience its largest drop in over a year. This comes after Bank of England Governor Andrew Bailey indicated that the bank might consider a more aggressive strategy for cutting interest rates.
A leading economist in China has stated that the country can increase its fiscal support by issuing up to 10 trillion yuan, or about 1.4 trillion dollars, in special debt. This move comes as expectations grow for Beijing to boost public spending as part of a new stimulus package.
Shareholders of Gulf Energy Development Pcl, led by Thai billionaire Sarath Ratanavadi, have approved a merger with telecom affiliate Intouch Holdings Pcl. This decision paves the way for a nearly $30 billion transaction.
Investors are increasingly betting on rising oil prices amid escalating tensions between Israel and Iran. Concerns over potential damage to energy infrastructure in the Middle East have sparked this surge in oil market speculation. As hostilities continue, traders are positioning themselves for further gains in oil prices.
Chinese stocks paused on Thursday after a historic rally, with traders cashing in on profits following a more than 30% surge since September.
