Author: Sky News

Norway’s $1.8 trillion sovereign wealth fund, the world’s largest, reported on Wednesday a record annual profit of 2.51 trillion crowns ($222 billion), driven by last year’s tech rally. “The American technology stocks in particular performed very well,” Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), the fund’s operator, said in a statement. The fund, which invests the Norwegian state’s revenues from oil and gas production, is one of the world’s largest investors, owning on average 1.5% of all listed stocks worldwide.Read More

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European shares climbed a record high on Wednesday, as chip equipment maker ASML led technology stocks higher after reporting strong quarterly results. The pan-European STOXX 600 was up 0.5%, as of 0810 GMT, and rose past Tuesday’s record close. Shares of ASML jumped 10.6% after the Dutch company reported better-than-expected fourth-quarter bookings of 7.088 billion euros ($7.39 billion).Read More

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