Investors rushed into the mega techs after Alphabet became the latest to cut jobs. Netflix surged. $A, bitcoin also rise.
The ex Labor leader’s strengths as a former prime minister, China expert, and close ties to Anthony Albanese and top Biden officials will be in play from day one.European shares closed higher on Friday but marked weekly losses as investors took a cautious view of the earnings season and upcoming central bank decisions.Spain’s Cellnex jumped 9.8% after a media report said American Tower and asset manager Brookfield were weighing a possible takeover bid for the mobile phone tower operator.
Denmark’s Orsted, the world’s No. 1 offshore wind farm developer, tumbled 8.7% after announcing a writedown on a large US offshore wind project and an earnings forecast for 2023 that fell short of analyst estimates. Ericsson slid 4.7% after it reported lower than expected fourth-quarter core earnings as sales of 5G equipment slowed in high-margin markets such as the United StatesRussia’s war in Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent’s economy, US Treasury Secretary Janet Yellen said in Senegal’s capital Dakar.
Yellen said ending the war would be the best thing to help the global economy, but Treasury estimated that a Group of Seven-led price cap on Russian crude oil and refined products to limit Russia’s revenues could save the 17 largest net oil-importing African countries $US6 billion annually.
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