OPEC Outlook: Time to get real?

By Han Tan ___________________ Oil prices remain relatively stable, as investors await OPEC’s World Oil Outlook due later today. It comes at a time when demand-side concerns continue to weigh on prices, while the OPEC+ supply cuts programme is set to be pared back further in January. Such a context has lent itself to both Brent and WTI futures, in September, posting their first monthly losses since April. Brent extended those declines by falling by another 0.7 percent so far in October, struggling to break above its 100-day simple moving…

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Tech stocks power global equities higher

Equities defy worrying forecasts; gain N60bn to start July

By Han Tan Risk appetite is edging higher on news that major economies are closer to getting another round of fiscal stimulus, amid promising developments in the quest to find a vaccine for Covid 19. Yet the overnight gains on Wall Street appear largely concentrated within the tech sector, as has mostly been the case since Q2. The rally in tech stocks beggars belief, with the ND100 minis soaring 66 percent since its March 23 low. However, from a technical perspective, it may be poised for a minor pullback in the…

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