Spot gold was steady at $1,731.50 per ounce by 0650 GMT, after rising 0.5% earlier in the day on renewed Sino-U.S. trade tensions and global stimulus. U.S. gold futures fell 0.1% to $1,733.30. Despite the news on a potential coronavirus vaccine lighting a fire under the equity markets, gold will remain very well bid due to the "ridiculously huge" Federal Reserve balance sheet, said Stephen Innes, chief market strategist at financial services firm AxiCorp....
U.S. gold futures gained 0.3% to $1,739.80. Despite the news on a potential coronavirus vaccine lighting a fire under the equity markets, gold will remain very well bid due to the "ridiculously huge" Federal Reserve balance sheet, said Stephen Innes, chief market strategist at financial services firm AxiCorp. On Monday, the metal hit its highest since October 2012 before retreating to close lower, as stocks and oil surged after drugmaker Moderna said its COVID-19 experimental vaccine showed promising results in an early-stage trial....
Moderna (MRNA) has now priced an underwritten public offering of 17,600,000 shares at a public offering price of $76 per share, before underwriting discounts and commissions.In addition, MRNA has granted the underwriters a 30-day option to purchase up to an additional 2,640,000 shares of common stock at the public offering price.Gross proceeds from the offering will be approximately $1.34 billion, says Moderna.The offering is expected to close on or about May 21, 2020, subject to customary closing conditions.Shares in Moderna pulled back 3% in Monday’s after-hours trading, following a 20% rally during the day after the biotech reported “positive” interim clinical data for its experimental coronavirus vaccine.“The interim Phase 1 data, while early, demonstrates that vaccination with mRNA-1273 elicits an immune response of the magnitude caused by natural infection,” said Tal Zaks, Chief Medical Officer at Moderna.“When combined with the success in preventing viral replication in the lungs of a pre-clinical...
Chinese electric vehicle (EV) maker Xpeng, backed by Alibaba Group Holding Ltd and Xiaomi Corp, said on Tuesday it has starting producing its new P7 sedan at its fully-owned Zhaoqing car plant after receiving a government production licence. Xpeng spent 3 billion yuan ($422 million) on the P7 sedan project and the firm has been investing 700 million yuan each year on intelligent vehicle research and development, Xpeng's chief executive He Xiaopeng told Reuters in an interview. The new plant, in China's southern city of Zhaoqing, will initially make Xpeng's P7 sedans....
