FTSE 100 climbs as global markets rally on unprecedented stimulus measures March 20, 2020 The FTSE 100 has climbed back into the green as investors eyed a fresh wave of government support for companies coming under financial strain due to the coronavirus pandemic. The blue chip index added over five per cent just after the open but then pared back gains to stand at just over one per cent [...]
Oil prices rally above $30 – but fail to hold onto gains March 20, 2020 Oil prices rallied today following a torrid week due to the outbreak of coronavirus and the fallout of a huge price war. The price of Brent Crude opened just over $30 a barrel this morning after falling to $26 yesterday. But it then slipped back almost two per cent to $27.92. World Texas Intermediate (WTI) [...]
Coronavirus: US stocks lift on stimulus measures despite Europe turmoil March 20, 2020 US stocks lifted slightly on the open this afternoon as traders reacted to massive amounts of government stimulus aimed at containing the coronavirus crisis. The S&P 500 dipped 0.5 per cent before rising just 0.1 per cent and the tech-heavy Nasdaq rose 1.3 per cent. The Dow Jones posted a 0.5 per cent rise shortly [...]
Coronavirus to spark “severe” global recession March 20, 2020 | City Talk The coronavirus is having a severe effect on global economic activity and amidst considerable uncertainty we have attempted to gauge the impact and updated our forecasts. We now expect to see the world economy contract this year by 3.1%, before rebounding by 7.2% in 2021. The forecast incorporates a severe recession in the first half [...]
Investec warns on profits as it navigates ‘challenging’ market March 20, 2020 Investec has warned of a fall in profit as it navigates “challenging market conditions”, exacerbated by the coronavirus outbreak. The specialist bank said operating profit for the year to 31 March 2020 is expected to be 7 to 14 per cent behind the previous year, while adjusted earnings per share would be down between 16 [...]
FTSE 100 shoots back up after Bank of England slashes rates over coronavirus March 19, 2020 The UK’s FTSE 100 managed to climb this afternoon after the Bank of England announced £200bn of quantitative easing and slashed interest rates close to zero. European stocks also turned green, having been mired in the red despite the European Central Bank (ECB) announcing a €750bn (£700bn) asset purchase programme to deal with the coronavirus [...]
Coronavirus: 54 UK companies issue covid-19 profit warnings March 19, 2020 Since the start of 2020, 54 UK companies have issued profit warnings citing a potential hit to their results from coronavirus pandemic, according to analysis released today. Accountancy firm EY said there had been 25 profit warnings related to the coronavirus this week up until 5pm yesterday. Eighty-seven per cent of all profit warnings issued [...]
Huge ECB stimulus programme pushes down Eurozone bond yields March 19, 2020 Bond yields have fallen across the Eurozone as investors and governments breathe a sigh of relief following the European Central Bank’s (ECB) decision to buy €750bn (£709bn) of assets in a huge programme to counter the economic effects of coronavirus. The yield is the amount the investor receives from a bond – government debt – [...]
IG’s revenue jumps 29 per cent as market volatility peaks March 19, 2020 Trading platform IG’s revenue in the third quarter jumped 29 per cent as market volatility, brought on by the outbreak of coronavirus, increased trading. The figures IG’s revenue in the third quarter was 29 per cent higher than in the same period last year, at £139.8m. The trading platform served 101,700 OTC leveraged active clients [...]
Boom or bust: The risk of a repeat of the dot-com bubble March 19, 2020 On 10 March 2000, the US Nasdaq stock market peaked at 5,048.62. By October 2002, the index had lost 78 per cent of its value, or about $5 trillion. The Nasdaq had swelled due to the proliferation of internet-related companies aiming to make money from this nascent technology. In fact, between 1995 and 2000, the [...]