Gold stockpiles depleted as coronavirus increases demand March 23, 2020 Global stockpiles of gold bullion have been severely depleted by the coronavirus outbreak as investors rush to put money into the safe haven assets. According to the Financial Times, European producers have struggled to keep up with the heightened demand, which is reportedly running at around five times normal levels, due to factories being shuttered [...]
FTSE 100 slumps despite massive Fed intervention March 23, 2020 FTSE 100 and global stocks tumbled today despite a massive intervention by the US Federal Reserve to try and stabilise coronavirus-ravaged markets. Britain’s blue-chip stock index closed nearly 3.8 per down at 4,993 points. The pan-European Stoxx 600 closed down 4.3 per cent, Germany’s Dax closed down 2.1 per cent and France’s CAC 40 ended [...]
US stocks drop despite massive coronavirus stimulus from Federal Reserve March 23, 2020 US stocks have fallen once again despite the Federal Reserve unveiling another huge package of measures to try to boost the economy throughout the coronavirus pandemic. Wall Street’s S&P 500 was down 1.1 per cent in early trading, the Dow Jones was 1.3 per cent lower but the Nasdaq index had gained 0.2 per cent. [...]
Oil prices wallow near 20-year lows amid coronavirus price war March 23, 2020 Oil prices came close to hitting 20-year lows today, as Brent crude and West Texas Intermediate (WTI) dropped under the growing coronavirus economic panic. Brent crude fell as low as $25 a barrel before falling 2.2 per cent down at $26.40. That is still a level not seen since 2003. WTI, a US oil benchmark, [...]
Coronavirus: British companies rush to mothball results after City watchdog calls for delay March 23, 2020 British companies are rushing to delay the publication of their results following an unprecedented call from the financial regulator for results to be suspended due to the coronavirus crisis. The Financial Conduct Authority (FCA) said late on Saturday that listed firms planning to report preliminary results in the next few days should mothball them for [...]
Morrisons cuts fuel prices as oil prices dip lower March 23, 2020 Supermarket Morrisons has announced a reduction in forecourt fuel prices. Effective from today, unleaded and diesel will be reduced by 12 and 8p a litre respectively. Morrisons said this will save the average customer £6 on unleaded and £4 on diesel. Although prices vary locally, Morrisons currently charges 116p a litre for unleaded and 118.5p [...]
Wall Street suffers worst week since 2008 as US imposes coronavirus restrictions March 21, 2020 Wall Street saw further losses on Friday to continue the recent rout as it suffered its worst week since the financial crisis of 2008. The S&P 500 and Dow Jones indexes were down more than four per cent on Friday despite making gains earlier on. All three major indexes registered their biggest weekly declines since [...]
GBP / EUR update March 20, 2020 | City Talk As everywhere across the world, everything in the UK has been accelerating at pace and the pound has paid the price. Whilst not always at the bottom of the pile, sterling has been struggling and hit a 35-year low against the US dollar. Measures to address all aspects of the crisis were well-received by investors [...]
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) [...]