Note: Low and High figures are for the trading day. European indices began the week with a roaring start as risk appetite seemingly swept the market, allowing stocks across the Atlantic to begin on a similarly strong foot. The rising tide of equity demand sent the FTSE and CAC 40 rocketing toward technical resistance that has worked to keep both markets contained. While the recent spike may be an encouraging sign for bulls, summer conditions might make it difficult for a confident break out to be posted. To that end, the FTSE will have to negotiate a few technical barriers before it can look to exit the trading range that it has maintained since early June. Should it fall, bulls could then set their sights higher, perhaps aiming at the Fibonacci level around 6, That said, I am hesitant to suggest the FTSE forecast has changed materially as resistance around 6, looms over the index still. A brief attempt higher was punished just two weeks ago, so a break above the level is likely required before the FTSE can establish an attack higher with confidence.
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Britain said on Monday it would start a consultation process on a potential new law which would force big companies to clean up their supply chains by fining them if they used products grown on illegally deforested land. Under the proposed new legislation, larger companies which operate in Britain would need to show that any commodities they used in their supply chain, such as cocoa, rubber, soy and palm oil, are produced in accordance with local laws, or face fines.
The consultation will run for six weeks.
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The released data from the Cyprus government includes cases in the British Overseas Territory of Akrotiri and Dhekelia but not Northern Cyprus , due to an ongoing dispute. Health minister Constantinos Ioannou said that Cyprus would not lift entry restrictions on its largest tourism markets like Russia and the United Kingdom unless it were safe to do, despite pressure from local businesses, because these countries have some of the highest rates of the virus in the world.
Ioannou said that it would not be possible to implement mass testing to screen all passengers from high-risk countries upon their arrival in Cyprus because quarantine facilities and hospitals would not be able to accommodate the expected number of infected people. By late July, Cyprus had reported that most of the new cases on the island had come from travelers.
Cyprus has assessed Schengen area and other countries based on factors like the number of new diagnoses and mortality rates per , inhabitants to determine whether arrivals from those countries will be quarantined or otherwise restricted in their entry to Cyprus. The Category A countries are considered low risk.
Arrivals from Category A countries, including some non-European countries like Japan , Canada , and South Korea , did not have any restrictions placed on their entry. Passengers arriving from Category B countries are required to undergo a health examination upon arrival and self-quarantine until the results are known. The Category B restrictions also apply to citizens and permanent residents of Cyprus. Category C countries are considered an increased risk and entry is restricted unless certain conditions are met; they can take a COVID test upon arrival, or present an RT-PCR certificate proving negative test results within the 72 hours before their arrival.
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Your web browser is no longer supported. To improve your experience update it here. News World. By 9News Staff. Tweet Facebook Mail. Cyprus has denied fresh allegations that it was granting citizenship to foreigners accused of crimes in exchange for millions in investments, insisting that all those who received a passport met all criteria in place at the time. The Cypriot parliament last month beefed up the eligibility criteria for the so-called “golden passport” investment program , which has brought billions in revenue since its introduction following a financial crisis.
The program has attracted many investors because a passport from the Mediterranean island of Cyprus automatically grants its holder citizenship to the entire member European Union.