(Reuters) -BHP Group shares fell 4% on Friday a day after revealing a $38.8 billion bid for Anglo American as investors feared a deal could erode BHP's profitability especially if it has to sweeten its offer. The company's Australian stock did not trade on Thursday as the Australian share market was closed for a holiday. Questions about jurisdictional risks in South Africa and other regions, and concerns that Anglo American's businesses are lower margin than BHP's led to a share sell off, said RBC analyst Kaan Peker in Sydney.
Aussie real estate could see more than a decade s gains wiped out this year as the world faces the most dire economic shock since the Great Depression, an economic forecaster warns.
AstraZeneca issued convincing statements of the progress of the vaccine trials.
The emergency vaccine approvals and the first vaccinations across major countries like the US and the UK brought some relief following the ongoing surge in coronavirus cases in certain economies. Overall, there was enough optimism in the last few weeks for global equities to recover from October’s plunge.
Source: Bloomberg
US Share Market
Despite a contested election, the lack of timely fiscal support and the raging spread on the virus in the US, the share market was supported by the vaccine updates and first immunizations which took place earlier this month.