/PRNewswire/ Downgrade potential surged in the oil and gas sector in January on the back of a revised industry risk assessment issued Jan. 25. This was.
New Zealand dollar rally continues
February 22, 2021SharePrint
The New Zealand dollar has kicked off the trading week with considerable gains. Currently, NZD/USD is trading at 0.7328, up o.46% on the day.
New Zealand dollar continues hot streak
NZD/USD posted sharp gains of 1.02 per cent on Friday, its highest one-day gain since early January. The kiwi took advantage of a drop in US yields as it rallied strongly. The currency has added to these gains on Monday, after S&P Global Ratings raised New Zealand’s sovereign rating to AA+ from AA. This upgrade is impressive, with S&P noting that it was the first rise in ratings it had given any country since Covid-19. The S&P note stated that New Zealand had recovered more quickly than other developed economies because it had done a better job of containing Covid. Still, S&P did mention two areas of concern in the New Zealand economy – a possible weakening of the housing market and high household debt. The rating upgrade has boosted
The Australian share market finished session lower in choppy trade on Monday, 22 February 2021, as losses in healthcare and tech stocks countered strong gains in miners driven by buoyant commodity prices. At closing bell, the benchmark S&P/ASX200 declined 12.90 points, or 0.19%, to 6,780.89. The broader All Ordinaries dropped 2.49 points, or 0.04%, to 7,061.55.
Mining stocks rose, with copper miners leading the charge after prices of the base metal hit a more than nine-year high last week. Iron ore prices have defied expectations and returned to record highs of nearly $US170 per tonne as Chinese demand for the steel-making ingredient remained elevated, while copper prices have spiked this month. Iron ore titans BHP Group, Rio Tinto, and Fortescue all gained more than 3%.
Denmark’s ATP Makes Forays into Social Bonds
The pension giant dipped its toe into the increasingly popular instruments with a €95 million investment in 2020.
Denmark’s $156.1 billion pension giant ATP said it has made its first investments in social bonds to include in its sustainable portfolio. The pension fund made the announcement while reporting near-record earnings results for 2020.
“In 2020, we decided to take it one step further and expand our universe to also be able to invest in social and sustainable bonds,” ATP Chief Executive Bo Foged told journalists at a press conference following the release of its annual results, according to Reuters.