Oil prices rose more than $1 on Monday on optimism in the global economy thanks to progress in a huge U.S. stimulus package and on hopes for improving oil demand as vaccines are rolled out.
Global finance leaders on Tuesday said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush a fragile recovery.
Asian shares cleared a four-month high on Wednesday as investors remained stubbornly upbeat on the outlook for a re-opening of the global economy even as cases of the coronavirus looked to be accelerating to new peaks.
Sovereign wealth funds from oil-producing countries mainly in the Middle East and Africa are on course to dump up to $225 billion in equities, a senior banker estimates, as plummeting oil prices and the coronavirus pandemic hit state finances.
Given the current state of the global economy, Brexit, and economic stagnation within the European Union, it is unclear what sort of impact this crisis has had on Italy’s economy. Certainly, it has aggravated economic factors (e.g., the spread), investor confidence, etc., but Italy’s economic stagnation precedes this crisis and this government.
Asian stock markets sagged on Friday after U.S. tech shares retreated from recent rallies, though optimism about U.S. corporate earnings and the global economy underpinned overall sentiment.
The participating Iranian officials in a Euromoney Iran conference in London have called for the removal of banking restrictions on Tehran.
