Bitcoin rose above $50,000 for the first time on Tuesday. At the same time, European equities eased after soaring the previous day on reduced coronavirus fears and thanks to mounting optimism over US President Joe Biden’s vast stimulus plan, traders said.
Bitcoin surged past the $50,000 mark in midday European trading, striking $50,547.70 around 1235 GMT. The price of the cryptocurrency has soared 75 percent since the start of the year.
Meanwhile, oil held close to 13-month highs on keen demand hopes amid a severe cold snap in Texas.
Asia’s leading stock markets closed with strong gains, and the dollar declined against the euro and yen.
Sterling soared to $1.3952, the highest level for nearly three years.
The euro sank to 87.06 pence, the lowest point since May.
A strong pound tends to dent London share prices because it weighs on the profits of dollar-earning multinationals.
Wall Street reopens from a long holiday weekend to catch up with Monday’s rally, which was rooted in Covid-19 vaccine rollouts, slowing infections, easing lockdowns, and hopes of reopening economies.
“The return of US markets from their long weekend means that the focus for all investors will be on the Biden administration’s push for a big stimulus program,” said analyst Chris Beauchamp at online trading firm IG.
While Biden’s spending package is widely expected to pass through the Democrat-controlled Congress, analysts have warned it might not be as big as the $1.9 trillion he proposed.
Meanwhile, with Britain and the United States leading the way in rolling out vaccines at the same time as they see a sharp slowdown in new cases and deaths, there are growing calls for governments to lift strict containment measures and get life back to a semblance of normal.
On Sunday, the US reported its lowest daily infection number since October, as Britain easily hit a key target for immunizing its highest-risk people.
The European Union — which is struggling with its vaccine program — has ramped up plans to deliver more jabs.
In London, the mining sector was also in sharp focus on Tuesday.
Shares in Glencore jumped 3.5 percent to 292.10 pence after the Swiss giant restored its shareholder dividend despite deepening losses.
The motion, seeking that Mohammed Adamu's tenure extension as Inspector General Of Police, IGP, be annulled, has been dismissed by the Federal High Court, Abuja, on Tuesday.
The presiding Judge, Justice Ahmed Mohammed, gave the judgment discarding the motion file with suit number; FHC/ABJ/CS/106/21 by a member of the legal arm, Maxwell Opara, and contested by his lawyer, Ugochukwu Ezekiel.
Ezekiel, in his argument, prayed to the court that the application was filed pursuant to section 215,216 of the 1999 Constitution (as amended), including section 7 of the Nigeria Police Act 2020 and the provision of the court.
In the suit filed before the High Court, Opara sued President Muhammadu Buhari, Mr. Mohammed...
Lagos State Commissioner for Information, Gbenga Omotosho, has revealed that the State Governor, Babajide Sanwo-Olu did not order the brutalizing of the #OccupyLekkiTollGate protesters.
Gbenga, who made this known via a media briefing, revealed that the Governor has vowed to deal with police officers who allegedly brutalize the protesters.
Omotosho informed newsmen that no police officer on duty at the Lekki toll gate plaza was there on the State governor's directive, hence the need for the victims of the alleged police brutality to be served due justice.
Omotoso said, “The Governor is very unhappy with what happened on Saturday, that people were brutalized, and he has directed Police Commissioner Hakeem Odumosu to investigate the matter. Whoever...
Media personality Destiny Amaka has reacted to Nigeria's current situation, where young people are struggling to make a living.
She said it hurts seeing how men are pull down because they are poor, even worse to compare a Nigerian man with those in the western world.
According to the media personality, there are so many talented and hardworking individuals in Nigerian, but the system is set up for them to fail.
She further said that poverty birthed Bobrisky and James Brown's likes following the change of their gender, all in the bid to make money.
Destiny Amaka also advises Nigerian men not to lose hope or courage to meet their destiny helpers one day.
She wrote: Dunno...