Market highlights: Bitcoin breaks record high, Ford jumps on Credit Suisse upgrade, Pinterest shares up 12%

After the first Bitcoin (BTC/USD) futures ETF launched, Bitcoin set a new record high, passing the mark of $66,900. Its previous ATH was $64,899, registered in April. As the Bitcoin news swept the market, other top 10 coins followed suit. The biggest winner was Solana (SOL/USD) with gains of 17%. Ethereum (ETH/USD) was up 8% and Cardano (ADA/USD) rose 6%. Ethereum is also approaching a new ATH.

Ford up 4% after Credit Suisse upgrade

Both DJ30 and the SPX500 gained 0.4% yesterday, while tech-heavy NASDAQ100 was slightly in the red. Ford closed the day with a gain of 4% after analysts at Credit Suisse upgraded their stock rating from hold to buy. The carmaker’s shares have increased by more than 80% y/y, and by 21% in the past month alone.

Health insurance providers Anthem and Centene were among the biggest winners in the SPX500. Anthem raised its full-year earnings outlook and gained more than 4%, as did Centene. Anthem’s share price has gained more than 30% y/y.

Netflix held the NASDAQ100 back yesterday, closing with a loss of 2.2% down.

IAG shares continue to plummet, UK100 still up

Airline group IAG’s shares continued to drop, closing with a loss of almost 5%. Despite that, the UK100 was up yesterday, albeit marginally. So far, IAG’s share price has dropped by almost 14% this week. The main reason is an announcement from Heathrow airport that it plans to increase the fees it charges airlines. Budget airline stocks dropped among smaller cap ones. Both Ryanair and EasyJet were lower. The latter has been worse off so far this year, having lost over 15% in share value.

Pinterest up 12% on news of PayPal acquisition

Social media company Pinterest’s share price rose after it was reported PayPal was negotiating to buy it for $45 billion.

Volatility expected for Australian dollar

Philip Lower, Reserve Bank of Australia Governor, will take part in an online panel hosted by the University of Chile at 19:00 UTC. His participation is expected to impact the Australian Dollar.

The post Market highlights: Bitcoin breaks record high, Ford jumps on Credit Suisse upgrade, Pinterest shares up 12% appeared first on Invezz.

Publication date: 
10/21/2021 - 13:32
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