Saudi Public Investment Fund buys 8.2% of “Carnival”

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Source: Arabic.net

Bloomberg reported that the Saudi Public Investment Fund bought a 8.2% stake in the Carnival cruise ship company and the New York-listed company jumps 22%.

The three main Wall Street indices boosted their gains and the Dow Jones Industrial Average rose more than 1,200 points.

The Standard & Poor’s 500 Index jumped more than 5% after New York Gov. Mario Como said the death rate associated with the emerging coronavirus was virtually constant for two days.

Italy reported fewer new coronavirus infections in nearly three weeks, which helped European and Asian stocks rise.

“We cannot say we are in a certain turnaround, but there appears to be a good sign in the markets,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, which monitors $ 28 billion in assets.

The upbeat tone in the financial markets comes after another negative week, and the mood among investors remains divided, between optimism with unprecedented stimulus, concern about the continuing spread of the disease, declining economic data, and high costs of companies due to the spread of the epidemic and the preventive closure.

In Asia, Japan’s benchmark index ended almost 4% higher even as this approached Tokyo from the state of emergency, pumping a $ 990 billion stimulus package. The yen fell as currency demand declined. Hong Kong stocks rose while Shanghai closed for a holiday.