CANADA STOCKS-TSX opens higher on materials strength, vaccine optimism

Dec 30 (Reuters) – Canada’s main stock index opened higher on Wednesday, supported by gains in materials stocks, while Britain’s approval of another coronavirus shot lifted sentiment around a vaccine-led global economic recovery next year.

* At 09:30 a.m. ET (14:30 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 21.58 points, or 0.12%, at 17,565.01.

U.S. Pending Home Sales Drop For Third Straight Month In November

Reflecting a shortage of inventory and fast-rising home prices, the National Association of Realtors released a report on Wednesday showing a continued decrease in U.S. pending home sales in the month of November.

NAR said its pending home sales index slid 2.6 percent to 125.7 in November after falling by 0.9 percent to 129.1 in October. Economists had expected pending home sales to come in unchanged.

Pending home sales declined for the third straight month but were still up by 16.4 percent compared to the same month a year ago.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

“It is important to keep in mind that the current sales and prices are far stronger than a year ago,” said NAR chief economist Lawrence Yun.

He added, “The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”

Yun offered a favorable outlook for the housing market in 2021, forecasting a 10 percent jump in existing home sales and a 20 percent spike in new home sales.

The continued pullback in pending home sales in November reflected decreases in all four regions of the country, with pending sales in the West plunging by 4.7 percent.

Pending home sales in the Northeast and Midwest also tumbled by 3.3 percent and 3.1 percent, respectively, while pending sales in the South fell by 1.1 percent.

Sidelined stars, like Von Miller and Christian McCaffrey, fill out roster for NFL’s All-Absent Team – The Denver Post

QUARTERBACK

RUNNING BACK

WIDE RECEIVER

TIGHT END

OFFENSIVE LINE

DEFENSIVE LINE

LINEBACKER

CORNERBACK

SAFETY

KICKER

PUNTER

Stock Alert: Fintech Trading 8% Higher Following Combination With Perella Weinberg

Shares of special purpose acquisition company Fintech Acquisition Corp. IV (FTIV) are rising more than 8% Wednesday morning on the news of it entering into a business combination agreement with Perella Weinberg Partners, an independent advisory firm.

The combined company, to be named as Perella Weinberg Partners, will be listed on the NASDAQ under the symbol “PWP.”

The transaction reflects an implied equity value for the company of approximately $975 million. The cash component of the consideration will be funded by FinTech IV’s $230 million cash in trust as well as a $125 million private placement in public equity at $10.00 per share with strategic and institutional investors, including Fidelity Management & Research Company LLC, Wellington Management and Korea Investment & Securities.

FTIV, currently at $11.86 has been trading in the range of $5- $17.44 in the last one year.

Stock Alert: Baidu Hits New 52-week High

Shares of Baidu Inc. (BIDU), a Beijing-based provider of internet search services in China and internationally, are rising more than 4 percent or $9.15 in Wednesday’s morning trade at $204.22, after hitting a new 52-week high of $204.80 despite no company-specific news.

U.S. stocks are higher on Wednesday amid positive sentiment generated by news that U.K. regulators have approved a coronavirus vaccine developed by AstraZeneca plc and the University of Oxford for emergency use.

Baidu has traded in a range of $82.00 to $204.80 in the past 52 weeks.

Sweden Says Travelers From U.K. Must Show Negative Covid Result

Sweden is toughening the entry requirements for certain travelers from the U.K. after the emergence of a more transmissible variant of the coronavirus.

From Jan. 1, any persons with an exemption from a U.K. entry ban will have to show a negative test result before they are allowed to travel to Sweden, according to Interior Minister Mikael Damberg.

“Today’s decision is an important tool for reducing the risk of infection and is also in line with the European Commission’s new recommendation,” Damberg said at a press conference.

The new measure does not apply to Swedish citizens or those transporting goods.

The first case of the mutated coronavirus was found in Sweden last week after a visitor from the U.K. traveled to the Sormland region of the country to celebrate Christmas.

Why the U.K.’s Mutated Coronavirus Is Fanning Worries: QuickTake

“The government has a preparedness to extend the new requirement for travelers from other high risk countries,” Damberg said.

UK's House of Commons approves Brexit trade deal by 521 votes to 73

LONDON (REUTERS) – British lawmakers on Wednesday (Dec 30) voted to approve legislation implementing the post-Brexit trade deal agreed with the European Union last week.

The vote on the legislation to enact the trade agreement was passed by 521 to 73 votes in Parliament’s Lower House. It now moves to the Upper House for approval later on Wednesday, before becoming law around midnight.

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