Coronavirus: US consumer prices fall by largest amount in five years April 10, 2020 US consumer prices fell by the largest amount in five years in March due to the impact of coronavirus, with further decreases expected as the virus squeezes demand for goods and services. The US labor department said that the consumer price index dropped 0.4 per cent last month due to plummeting prices for petrol, hotels, [...]
Oil prices fall as Opec production cut deal hangs in balance April 10, 2020 Oil prices have dropped sharply overnight despite a tentative agreement between oil cartel Opec and Russia to cut production by 10m barrels per day, roughly 20 per cent of their output. Discussions will resume today, with the negotiations hinging on whether Mexico decides to join in with the cuts, which it has thus far balked [...]
Opec closes in on record deal with Russia to cut oil production by 20m barrels a day April 9, 2020 Oil producer cartel Opec is in talks with Russia about cutting production by 20m barrels per day, roughly 20 per cent of the world’s oil supply, in a bid to end their price war and support the market. Sources from both sides told Reuters that the cuts, which are at least 5m barrels per day [...]
Coronavirus: US stocks rise as Fed intervenes again April 9, 2020 US stocks have opened higher today after the US Federal Reserve committed an extra $2.3 trillion (£1.84 trillion) to shore up the struggling economy. The S&P 500 rose two per cent, the Dow Jones climbed nearly 2.1 per cent and the Nasdaq opened 0.9 per cent up. The rise means that the S&P 500 has [...]
Coronavirus: US Federal Reserve pledges another $2.3 trillion in loans April 9, 2020 The US Federal Reserve has promised an extra $2.3 trillion (£1.84 trillion) of loans to shore up the US economy as American unemployment surged for the third week in a row amid the coronavirus crisis. Fed chairman Jay Powell said the money would be made available for employers and households to help them through the [...]
Oil prices: Markets hold their breath ahead of Opec+ meeting April 9, 2020 This afternoon’s crunch meeting between oil cartel Opec and Russia could send shockwaves through global energy markets and send oil prices spiking or crashing. For weeks oil prices have been in freefall due to a production war between de facto Opec leader Saudi Arabia and Russia. The pair are stuck in a dispute over production [...]
Coronavirus: FTSE 100 and European stocks trim gains April 9, 2020 The FTSE 100 trimmed gains along with the major European stocks after jumping on today’s open, but traders still hope the coronavirus pandemic is peaking. Traders pushed London’s blue-chip index back into the green as it opened 1.9 per cent higher to 5,781 points. The FTSE 100’s 100-point jump came after a 0.5 per cent [...]
Asian stocks climb as hopes grow coronavirus is peaking April 9, 2020 Asian stocks rose today as hopes grew the global coronavirus outbreak is reaching its peak and oil prices grew on expectations of a production cut. Hong Kong’s Hang Seng index rose 0.65 per cent despite Japan’s Nikkei dropping 0.33 per cent overnight. The Nikkei sank as coronavirus infections rose in Japan, after the government declared [...]
Nearly half of UK companies have scrapped dividend payments April 9, 2020 Nearly half of UK companies have scrapped dividend payouts as the coronavirus crisis batters business. The pace of dividend cuts has accelerated since the FTSE 100 slumped to its lowest point in over 25 years last month. Link Group’s UK dividend monitor shows 45 per cent of UK companies have scrapped payments, worth £28.2bn. It [...]
Invesco chiefs warn listed companies over cash calls April 8, 2020 Invesco has told listed companies they must make a convincing case for raising “precious and expensive” equity during the coronavirus pandemic. A letter sent by the co-heads of UK equities at Invesco, obtained by Sky News, sets out their expectations for corporate fundraising. It came after the Financial Conduct Authority (FCA) announced temporary measures to [...]