OPEC+ seems to be postponing the decision to reverse the restrictions on production. OPEC+ will start increasing the production of oil in January 2021. However, talks are now underway between the members of OPEC+ with a view to making this decision only in the second quarter of 2021. The price of oil responded sharply and went $3 higher within the day.
Europe’s Green Opening
The election week started off well with European shares. There have been recognizable green figures all over the board. At the close of the trading day, the BEL20 stood at +1.12 percent, up 3,077 points. ING, UCB and Barco were the top Belgian shares. Umicroe, Galapagos and Telenet were Belgian flop stocks. In the Netherlands, the AEX25 was up +1.88 percent, 544 points. ING, Royal Dutch Shell and ABN Amro were the Netherlands’ top riders. In addition, only two Dutch shares Galapagos and KNP have closed weaker. Germany’s DAX30 closed at 11,788 points, +2.01 percent. HeidellbergCement, Deutsche Bank and Linde were among the top stocks. On Monday, the German declining shares were Delivery Hero, Deutsche Börse and Medical Fresenius.
End of Apple – Intel Partnership
Since 2005, the two U.S. technology businesses have been in collaboration. Intel supplied Apple’s Mac products with chips. It will take about two years to move away from Intel products. But to get it done for the iMac, iMac Pro, Mac Pro and Mac mini, the California-based giant has two years. Apple will make all of the energy-efficient and artificial intelligence chips itself.
Apple generated $9 billion from sales of its Mac
products in the last fiscal quarter that ended Sep 30, 2020. Apple has a market
share of less than 10%, but the direct effect on Intel remains to be seen.
Shares of Intel closed 0.41 percent higher at $44.46 yesterday.Intel began the
year at $60.24 but the negativity has been lingering around the stock for many