Weekly News Summary For March 29 to April 4, 2019

Friday, March 29: Lyft Raises IPO Price, Receives $24.3B Value

Lyft got a $24.3 billion value on Friday after the company priced its initial public offering higher than it had planned, signaling solid demand for the deal.

As investors looked past uncertainties surrounding the ride-hailing startup’s course towards profitability, Lyft increased its already-raised IPO price to 32.5 million shares at $72 per share, marking its highest price range.

Monday, April 1: Oil Hits New 2019 High on Positive Chinese Data

Oil prices hit new 2019 highs on Monday after official March data showed China’s manufacturing sector grew to its strongest in eight months, easing concerns over the global economic outlook and lifting sentiment across financial markets.

US West Texas Intermediate crude futures gained about 1% to $60.72 per barrel, climbing to a level not seen since November 12, while Brent crude oil futures added 1.5% to $68.61 per barrel.

Tuesday, April 2: Bitcoin Surpasses $5,000 Due to Unknown Buyer

Bitcoin climbed to its highest level in nearly five months on Tuesday, driven by what analysts believed to be a huge order from an unknown buyer.

The cryptocurrency rose as much as 20% during the frenzy, briefly blowing past $5,000 for the first time since mid-November, before easing back at around $4,700.

Wednesday, April 3: Global Stocks Rally on US-China Trade Optimism

Global stocks markets posted six-month highs on Wednesday as investors’ sentiment grew on fresh signs of progress in US-China trade discussions and positive economic figures, which help send Germany’s 10-year bond yield back to 0%.

European shares added nearly 0.8% to hit their highest since August, with markets climbing 1% to their highest since October in Germany, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose to a seven-month peak.

Thursday, April 4: Tencent’s $6B Bond Sale is Asia’s Biggest in 2019

Tencent announced on Thursday it was able to raise $6 billion in a bond sale, marking as Asia’s biggest sale this year, according to data.

The Chinese tech giant stated that the notes are set to be issued on April 11, and they will bring in net proceeds of approximately $5.98 billion, which it intends to use in refinancing and general corporate purposes.