World News – UA – Dow Jones index drops 23%, ASX prepares for declines


Shares of Anglo-Swedish drugmaker AstraZeneca jumped 17% overnight after COVID-19 vaccine triggered strong immune response in older participants

The Financial Times reported data received so far from the vaccine trial, which is being produced with the University of Oxford, reported that it triggers antibodies and T cells in groups of older age, who are most at risk of disease

FT suggests latest results will be published soon in a clinical journal The US trial of the AstraZeneca vaccine resumed late last week after a long wait as research was halted in September, a participant in the test got sick

Shares of AstraZeneca climbed to 8,077 Great British Pence, a gain of 17%, on further optimism about the project The news also sparked new speculation that the vaccine could be ready for use in emergency in December or January

It is important to note that no timeline is in place, however, researchers have yet to complete Phase 3 studies and approve regulatory approvals.

Local biotech giant CSL has agreed to take doses of the Oxford vaccine when it gets regulatory approval, and the company said last week that it is making good progress in preparing its facilities for production – but could not confirm lead times before after product approval

Bendigo and Adelaide Bank has seen strong loan growth and a steady decrease in loan deferrals in a transaction update ahead of its annual general meeting today

The bank recorded 11% growth in total loans and 16% growth in residential loans

Bendigo & Adelaide Bank said it saw strong loan growth and a steady decrease in loan deferrals in a transaction update ahead of its annual general meeting todayCredit: Fairfax Media

The number of loan deferrals is down 69% from its May high, leaving total deferred payments at around $ 25 billion, against 6 $ 9 billion in June

Residential support plans – including deferrals and restructured loans – have fallen 74% since May for 4,408 accounts and commercial plans (totaling 2,389 accounts) have declined 49% since July

Chief Executive Officer Marnie Baker said the bank continues to work with clients on loan deferrals to enable a « smooth transition and fair results » for clients and shareholders

« It is gratifying to see that our personalized assistance has enabled more than two-thirds of these customers to get back on their feet and we are further encouraged by the Victorian Premier’s announcement to reopen Melbourneâ € ™ s trade industries. retail and the hotel industry of tomorrow « 

The company’s shares were last trading at $ 6.67 and are up 104 percent in October

Telstra executive Michael Ebeid leaves the company after more than two years at the head of the telecommunications giant’s division for professional customers

The telecommunications company announced a series of executive leadership changes on Tuesday morning, including the promotion of Telstra’s director of global business services, David Burns, to group director for enterprises Dean Salter, COO of Jetstar Airways, will assume the role of M Burns

We don’t know where M Ebeid is heading, but an ASX statement said he was leaving to « pursue other business interests » M Ebeid, who previously ran SBS for almost eight years, was announced as part of a broader management restructuring by Telstra CEO Andy Penn in 2018

The changes were made when Telstra implemented its T22 strategy, which is to cut 9,500 jobs while creating 1,500 software engineering and cybersecurity jobs, and increasing cost reduction plans to $ 2.55 billion

Businesses in Melbourne prepare to reopen from 1159 a.m. after Prime Minister Daniel Andrews announced the easing of restrictions on Stage Four on Monday

Building materials giant Boral to sell its 50% stake in its international plasterboard business to joint venture partner Knauf for $ 1 43 billion after extensive portfolio review

The transaction is expected to close in the current fiscal year and will generate pre-tax profit for Boral of approximately $ 540 million

Boral to sell its 50% stake in USG Boral for $ 1 4 billion Credit: Ben Rushton

In a statement released to coincide with its annual meeting of shareholders today, Boral said the funds raised would be used to reduce net debt and finance the growth of its remaining portfolio

The business for sale, known as the USG Boral joint venture with Knauf, includes plasterboard companies in Australia, Asia, New Zealand and the Middle East

– USG Boral is a formidable company, very well positioned to perform strongly under Knauf ownership The strength of the joint venture and its outlook is fully reflected in the selling price, as evidenced by the attractive premium, which is an excellent result for the shareholders of Boral,… declared the CEO of Boral, Zlatko Todorcevski

The sale of Boral’s stake in USG Boral to Knauf will be a step towards simplifying Boral’s geographic footprint and product portfolio, â € “ he said

US stocks fell sharply overnight, worsening losses from last week, as disturbing rise in coronavirus numbers put investors in high spirits The slippage came as doubts mounted on Wall Street on Washington’s success in further stimulating the economy ahead of election day

The S&P 500 slipped 19%, its biggest single-day decline in more than a month The Dow Jones Industrial Average fell 650 points after falling more than 960 in the heaviest sell-off Companies Much of the sell-off was behind much of the sell-off, although losses in communications services, financials and industrials helped weigh down the market Energy stocks also fell alongside crude oil prices

Equities also fell across much of Europe and Asia As another sign of caution, Treasury yields retreated after hitting their highest level since June last week

The number of coronaviruses is climbing across much of the United States and Europe, raising concerns of further damage to a still weakened economy The United States has come very close to reducing rates consecutively Daily infection records Friday and Saturday In Europe, the Spanish government declared a national state of emergency on Sunday which includes an overnight curfew, while Italy ordered restaurants and bars to close every day at 6 p.m. hours and close gyms, swimming pools and cinemas

Hello and welcome to this Tuesday edition of Markets Live Lucy Battersby and Alex Druce, who is back from her sabbatical, will guide you through today’s news

Telstra, Michael Ebeid, CEO

World News – UA – Dow Jones Index Falls 23%, ASX Prepares for Declines


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