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3rd August 2021 Morning Report

Tuesday 3rd August 2021

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U.S. equity markets closed mixed Monday. The Dow Jones Industrial Average and the S&P 500 index slipped 0.28% and 0.18% respectively, while the Nasdaq Composite ticked up 0.06%. The Senate on Sunday unveiled a $1 trillion bipartisan infrastructure plan that would provide cash for roads, bridges, broadband and other infrastructure. 

Strong acquisitions and mergers continue with Square Inc., agreeing to acquire Australia-based Afterpay for about $29 billion in an all-stock deal. Foot Locker Inc. said it would buy two smaller shoe retailers for a total of about $1.1 billion. The defence company has agreed to buy British rival Meggitt for 6.3 billion pounds ($8.8 billion).

Other overseas markets were stronger across the board. France's CAC 40 was up 0.95%, while Britain's FTSE 100 and Germany’s DAX 30 were higher by 0.7% and 0.16%, respectively. 

In Asia, China’s Shanghai Composite index rose 1.97%, Japan’s Nikkei 225 advanced 1.82% and Hong Kong’s Hang Seng index rose 1.06%. 

West Texas Intermediate crude oil fell $2.69 to $71.26 barrel and gold was marginally up to $1,818.10 per ounce. 

Morning Report 03 August 2021

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