Tesla made it to the S&P 500 index
The shares of electric car manufacturer Tesla will become part of the S&P 500 stock index. After the end of Monday’s trading, the index operator, S&P Dow Jones Indices, announced this. The inclusion of the company’s shares in the index has long been speculated. Tesla’s stock market value reacted positively to the news and the company’s shares rose by 12 percent.
According to available reports, the company will become part of the index as early as December 21, while it will participate in the overall development of the index with other companies that are part of it in the range of approximately one percent. With a market capitalization of nearly $ 380 billion (during Tuesday’s trading day), the carmaker is likely to rank among the top 10 companies.
Development of Tesla shares over the last year. (Graph source: Investing.com)
Buffett sold part of Apple’s shares to invest in the pharmaceutical industry
It is no secret that the shares of pharmaceutical companies are rising during the coronary crisis. Evidence of this is also the Pfizer stock, which has seen significant growth due to the high efficacy of the COVID-19 vaccine. Warren Buffett, a “fortune teller from Omaha,” also decided to use this factor.
His company Berkshire Hathaway sold 36.3 million shares of technology giant Apple in the third quarter and subsequently bought shares of pharmaceutical companies Merck and Pfizer. Berkshire Hathaway announced its actions to the Securities and Exchange Commission last Monday.
After three years, Bitcoin crossed the $ 17,000 mark
The most famous cryptocurrency in the world for the first time since 2018 reached the limit of 17,000 USD. Since the beginning of this year, the price of Bitcoin has doubled. Some experts believe that the current development can be compared with 2017, when the price of cryptocurrency reached its historic maximum above 20 thousand USD.
The growth is attributed not only to the continuing easing of central banks’ monetary policy, but also to the outcome of the US elections, which have shown that finding political agreement will continue to be challenging. In addition, in May 2020, the so-called division of Bitcoin took place, which limited the reward for its further acquisition for miners. The split effect has driven the Bitcoin price up for several months in the past.
Development of the value of Bitcoin since the beginning of its trading. (Graph source: coinmarketcap.com)
Air transport will reach 45 to 55 percent in 20121 in 2021
After the outbreak of the COVID-19 pandemic, air transport is facing a huge drop in revenue. According to the French airport operator, ADP should begin recovery in the spring of next year. The company, which operates two Paris airports, expects a gradual increase in demand for air services from April 2021.
In October, interest in airport services operated by ADP fell by 56.8 percent year on year. The second wave of COVID-19 and the measures associated with it had the greatest impact on this. A total of 9.1 million passengers passed through the network. At Charles de Gaulle and Orly airports, air traffic fell by 75.6 percent year on year and a total of 67.3 percent since the beginning of the year.
Keep an eye on this week:
Wednesday, November 18, 2020
The United Kingdom will publish the consumer price index for October, which is expected to increase from the previous 0.5 to 0.7 percent.
Thursday 19 November 2020
A speech by Christine Lagarde, President of the European Central Bank, is expected.
Text source: Investing.com, Financial Times, Coinmarketcap.com, FXstreet.com