Tuesday 20 April 2021
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.theguardian - 2 month ago

Markets rebound as inflation worries fade – business live

Rolling coverage of the latest economic and financial newsDow hit record high last nightFed chair: could take three years to reach inflation targetJ J vaccine news also boosts markets 7.57am GMT Copper prices have jumped to their highest levels in almost a decade today, lifted by economic optimism and Jerome Powell’s dovish comments to Congress this week.The most-traded April copper contract on the Shanghai Futures Exchange rose as much as 4.5% to 70,740 yuan ($10,964.04) a tonne, a level unseen since March 2011, before easing to close at 70,150 yuan a tonne, still up 3.6%.Three-month copper on the London Metal Exchange rose 2.3% to $9,518.50 a tonne by 0714 GMT. 7.40am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Risk appetite showed signs of returning to global markets over the last 24 hours as Fed Chair Powell stuck to his reassuring tone and continued to signal that the central bank would keep policy accommodative for some time to come. Expectations are high for the J J vaccine to be distributed in the US over the next month.Basic refrigeration and the fact that it is a single dose vaccine could be a gamechanger in the global fight against COVID. Related: Johnson Johnson s one-shot Covid vaccine effective, FDA review says European Opening Calls:#FTSE 6686 +0.40%#DAX 14058 +0.59%#CAC 5826 +0.49%#AEX 670 +0.78%#MIB 23279 +0.78%#IBEX 8335 +0.79%#OMX 2049 +0.57%#STOXX 3727 +0.57%#IGOpeningCallDow futures rise 100 points following index s record close https://t.co/8DJPxtYrZs Continue reading...


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