Stocks struggle but the Bitcoin shines

SourceArab News
SectorFinancial Markets
CountryMiddle east

European and US equities struggled Friday as investors awaited further stimulus and vaccine news, but Bitcoin forged a new record as it crept toward $50, 000. Bitcoin soared to a new high of $48, 930 in Asian trade, after MasterCard and US bank BNY Mellon moved Thursday to make it easier for people to use the cryptocurrency. It later slid back under $48, 000. In European equity trading, London and Paris each added 0.

2 percent, while Frankfurt was 0. 4 percent lower in afternoon trading. "Recent gains brought about from US stimulus and vaccination optimism has faded to bring a more 'wait-and-see' approach from markets," said Joshua Mahony, senior analyst at online trading firm IG. London sentiment was dented somewhat by news that the coronavirus-ravaged UK economy shrank by a record 9. 9 percent in 2020, despite an upturn in the second half. $48, 930 Bitcoin soared to a new high of $48, 930 in Asian trade, after MasterCard...read more...