- US stock futures and European equities staged cautious rise ahead of Tuesday’s election, buoyed by strong Chinese data.
- Oil slid another 2% to its lowest in five months, hammered by rising crude supply and the prospect of another drop-off in demand, as restrictions on mobility tightened in Europe.
- A second lockdown across England comes into force on Thursday, leaving the pound trailing other major currencies.
- Visit Business Insider’s homepage for more stories.
Global shares rose on Monday, helped in part by a surprisingly big improvement in Chinese economic data and as investors pared back some of last week’s bearish positions, despite another national lockdown in England and the growing nervousness over Tuesday’s US election.
Futures on the S&P 500, Dow Jones and Nasdaq 100 rose between 0.3 and 0.5%, pointing to a stronger start to trade after the opening bell on Wall Street later. On Friday, the S&P closed with its steepest weekly drop since mid-March, pummeled by an investor exodus from risk-linked assets such as stocks and commodities.
In the Real Clear Politics national polling average, Democratic presidential nominee Joe Biden maintains a steady 7.2% lead over President Donald Trump, with Biden is averaging 51.1% of the vote, compared to Trump’s 43.9%.
China’s factory sector saw activity expand at its fastest pace in almost 10 yearsin October, thanks to a surge in domestic demand, although the spike in cases of COVID-19 in some of its biggest customer nations in Europe curbed exports.
In Europe, the Stoxx 600 rose 1%, boosted by an 8% rise in shares of British online grocer Ocado, which said it would buy two robotics firms. The company, which has only a fraction of the UK groceries market, is its most valuable, thanks to the surge in online shopping in the face of lockdown restrictions.
Among the regional indices, the mood was upbeat, with Amsterdam’s AEX and Vienna’s ATX benchmarks up 0.7%, along with London’s FTSE 100, which profited from a 0.5% drop in the value of the pound, as investors in UK markets prepared for another lockdown across England this week.
“Clearly the US elections this week are likely to be a pivotal driver for equities. We have shown in recent work that European equities are one of the regions most exposed to the improvement in the polls for Biden,” UBS equity strategist Nick Nelson said in a note.
Read More: An unusual wrinkle in Wall Street’s fear gauge is warning that the upcoming election could trigger a prolonged period of stock-market chaos – one that’s much worse than the aftermath of 2016
Conservative prime minister Boris Johnson is expected to seek approval from the British parliament for a one-month lockdown to come into effect on Thursday across the whole of England, which is home to nearly 90% of the entire UK population, to curb an alarming spike in cases of COVID-19, which he said on Saturday was more severe than the government’s reasonable worst-case scenario.
The pound fell 0.4% against the dollar and the euro, making it the worst-performing G7 currency of the day.
“On the growth outlook, a fourth-quarter contraction is now probable. November GDP will likely plunge by 6% to 10% m-o-m, as a result of tighter restrictions,” Deutsche Bank analyst Sanjay Raja said.
The UK has the worst death rate in Europe, with nearly 45,000 fatalities so far. The eurozone has seen large swathes of the population put under renewed restrictions, including France, Germany and Spain and economists are predicting a drastic decline in overall activity.
UBS has cut its annualized growth forecast for the eurozone to 3% from 8% for the fourth quarter of the year.
Oil has fallen to its weakest in five months, as mobility restrictions have increased across much of Europe, which is biggest driver of demand for diesel fuel.
Production of oil outside of the Organization of the Petroleum Exporting Countries is rising. Output from Norway’s largest oilfield is set to reach a record high of nearly 500,000 barrels per day soon, while production in Russia and the United States is edging higher, along with Libyan oil output, which has doubled in recent weeks, thanks to the cessation of violence between warring factions.
“Right now, there is a lot of immediate pain in the oil market with rising supply from Libya, weakening demand in Europe due to C-19 lock-downs and muted orders for crude from tea-pot refineries in China,” SEB analyst Bjarne Schieldrop said. “All with US election worries on top. In terms of a potential Biden-win and the bearish impacts from that we think that it is all more than price into the market.”
The Bay to close Queen Street location Tuesday after being open Monday despite lockdown – CP24 Toronto's Breaking News
The Bay says it will close its flagship location on Queen Street Tuesday after leaving it open Monday, despite a provincial lockdown in effect in Toronto and Peel Region.
The Queen Street location remained fully open Monday despite orders for non-essential retailers to close their stores to in-person shopping in Toronto and Peel Region.
Toronto and Peel Region officially entered a 28-day lockdown on Monday, forcing restaurants, gyms, and non-essential stores to close to slow the spread of COVID-19.
Retailers can still offer curbside pickup and delivery and restaurants are also permitted to stay open for takeout and delivery.
Department stores across the GTA have been shuttered as part of the lockdown but a spokesperson for The Bay told Newstalk 1010 that the company’s Queen Street location downtown is allowed to stay open to customers because groceries and other “essential items” are sold inside.
“The health and well-being of customers and associates remain our top priority as we continue to provide the essential products and services Canadians need,” the spokesperson said.
“At this time, while the majority of our stores in Toronto and Peel are only offering curbside pickup, the Hudson’s Bay Queen Street location, which offers grocery among other essential items, remains open with strict protocols in place as outlined by the government.”
The company said there are enhanced cleaning protocols in place at all stores and associates must undergo full health screenings when reporting for work.
“We remain committed to ensuring a healthy environment for all,” the statement concluded.
In a further statement issued to CP24 late Monday, The Bay said it decided to leave the Queen Street location open because there is a grocery store in the basement of the eight-floor location.
“On Sunday evening, the order issued by the province changed the guidelines regulating the operation of retail stores. We reviewed closely to ensure compliance and, as such, closed all our stores in Toronto and Peel but one, which contained a grocery store,” the statement read. “We understood this to be in line with the province’s direction, however we have now made the decision to close our Queen Street store tomorrow. All Hudson’s Bay stores in Toronto and Peel will offer shoppers curbside pickup.”
Health minister’s office says store should not be open
Asked about the situation at a news conference on Monday afternoon, Premier Doug Ford said he would “have to look into it.”
Ford reiterated a call for shoppers to support small businesses during the lockdown.
“I’m doing everything we can to protect and support the small businesses out there,” Ford said.
Dr. Barbara Yaffe, Ontario’s associate chief medical officer of health, said any large stores that are open would have to offer essential goods that you would find in a grocery store, pharmacy, or hardware store.
In a statement to CP24, a spokesperson for Health Minister Christine Elliott offered further clarification late Monday, noting that The Bay should not be allowing customers inside.
“The inclusion of discount and big box retailers selling groceries is intended to include retail with a full grocery store component. This would include WalMart and Costco for example, but not The Bay or IKEA,” the statement read.
“We encourage all organizations to refer to the provincial regulations to clarify impacts to their business.”
Speaking to CP24, one shopper said that when he asked staff inside The Bay about where he could find the grocery department, they told him groceries could be found in the basement at Pusateri’s.
When he told them Pusateri’s wasn’t open, he said they informed him that it would be open shortly.
“They said, ‘Oh, but we are getting them to open right away. They are restocking shelves right now. They will probably be open tomorrow,'” the shopper told CP24.
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Global Regenerative Medicine Market 2020-2025: Opportunities with the Implementation of the 21st Century Cures Act
Dublin, Nov. 24, 2020 (GLOBE NEWSWIRE) — The “Regenerative Medicine Market by Product (Cell Therapies (Autologous, Allogenic), Stemcell Therapy, Tissue-engineering, Gene Therapy), Application (Wound Care, Musculoskeletal, Oncology, Dental, Ocular), Geography – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering. The Global Regenerative Medicine Market is Projected to Reach USD 17.9 Billion by 2025 from USD 8.5 Billion in 2020, at a CAGR of 15.9% during the Forecast Period. Market growth is driven by the rising prevalence of chronic diseases, genetic disorders, and cancer; rising investments in regenerative medicine research; and the growing pipeline of regenerative medicine products. However, the high cost of cell and gene therapies and ethical concerns related to the use of embryonic stem cells in research and development are expected to restrain the growth of this market during the forecast period.The cell therapies segment accounted for the highest growth rate in the regenerative medicine market, by product, during the forecast periodBased on products, the regenerative medicine market is segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The cell therapies segment accounted for the highest growth rate in the regenerative medicine market in 2019. The increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders and the rising funding for the R&D of regenerative medicine products and therapies are the major factors driving the growth of this segment.Oncology segment accounted for highest CAGRBased on applications, the regenerative medicine market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the oncology segment accounted for the highest growth rate. This can be attributed to the rising prevalence of orthopedic diseases, growing geriatric population, increasing number of stem cell research projects, growing number of clinical researches/trials, and the rich pipeline of stem cell products for the treatment of musculoskeletal disorders. Europe: The fastest-growing region regenerative medicine marketThe global regenerative medicine market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. The North America region is projected to grow at the highest CAGR during the forecast period in 2019. The growth in the North American regenerative medicine market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases. Market Dynamics Drivers * Rising Prevalence of Chronic Diseases, Genetic Disorders, and Cancer * Rising Investments in Regenerative Medicine Research * Growing Pipeline of Regenerative Medicine ProductsRestraints * Ethical Concerns Related to the Use of Embryonic Stem Cells in Research & Development * High Cost of Cell and Gene TherapiesOpportunities * Implementation of the 21st Century Cures Act * Rising Demand for Organ TransplantationsImpact of the COVID-19 Pandemic on the Regenerative Medicine MarketCompanies Mentioned * 3M Group * Allergan * Amgen, Inc. * Anterogen Co., Ltd. * APAC Biotech * Aspect Biosystems * Bluebird Bio * Corestem, Inc. * Integra Lifesciences Holdings Corporation * Kite Pharma * Medipost Co., Ltd. * Medtronic plc * Mimedx Group * Misonix * Novartis Ag * Organogenesis Inc. * Orthocell Ltd. * Shenzhen Sibiono Genetech Co., Ltd. * Smith & Nephew plc * Spark Therapeutics * Stryker Corporation * Takeda Pharmaceutical Company Limited * Tego Science, Inc. * Vericel Corporation * Zimmer BiometFor more information about this report visit https://www.researchandmarkets.com/r/6v7acfResearch and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Peel Public Health reporting COVID-19 outbreaks at Brampton schools – Brampton Guardian
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- Peel Public Health reporting COVID-19 outbreaks at Brampton schools Brampton Guardian
- Toronto enters virus lockdown as US looks to vaccine rollout RFI
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- Ontario’s top public health official now plans to push back retirement amid second wave of pandemic CP24 Toronto’s Breaking News
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