Asian stocks rise as markets pin hopes on global economic recovery June 2, 2020 Asian stocks ground out gains overnight as traders chose to focus on the prospects of a global economic recovery from coronavirus over US-China fears. Japan’s Nikkei jumped 1.3 per cent on Tuesday but Hong Kong’s Hang Seng index rose a comparatively small 0.6 per cent. President Donald Trump’s threat to bring in the military to [...]
Strong economic recovery from coronavirus pandemic predicted June 1, 2020 A strong economic recovery following the coronavirus pandemic is likely, with conditions ripe for a quick turnaround, a report published today said. The unusual nature of this recession could be a silver lining for recovery, the report by Oxford Economics said. GDP has fallen because of a planned, partial economic shutdown, so in theory activity [...]
London Stock Exchange finds broad backing for shorter trading hours June 1, 2020 The London Stock Exchange (LSE) has found strong support for shorter trading hours after a public consultation with the industry. Feedback from the LSE’s public consultation found a “significant majority” of respondents thought a reduction of market hours “could lead to improvements in diversity and wellbeing”. A small number suggested a “lunch break” as an [...]
Markets live: FTSE 100 gains fade on US-China tensions as Wall Street wobbles June 1, 2020 The FTSE 100 pared some of its gains amid simmering tensions between the US and China over Beijing’s crackdown on semi-autonomous Hong Kong. Despite the concerns, US President Donald Trump stopped short of ripping up the US-China trade deal over China’s actions in the city-state. However, stocks surrendered some of their earlier gains as reports [...]
Petropavlovsk pours cold water on UGC merger reports June 1, 2020 Russian gold mining giant Petropavlovsk has poured cold water on reports that it is considering a potential merger deal with largest shareholder UGC. In an interview with the Telegraph, the FTSE 250 firm’s chief executive Pavel Maslovskiy said that discussions between the firms were at an early stage but the deal could “definitely happen”. If [...]
UK manufacturing downturn continues despite signs of life June 1, 2020 The UK’s manufacturing sector showed some signs of life in May as the coronavirus lockdown was eased, but the overall picture for Britain’s factories remained highly gloomy. The final reading of the IHS Markit/Cips (PMI) manufacturing purchasing managers’ index came in at 40.7 in May. That was up from the record-low reading of 32.6 in [...]
Eurozone manufacturing shows tentative signs of recovery in May June 1, 2020 Conditions in the Eurozone manufacturing sector picked up somewhat in May as countries in the currency bloc lifted coronavirus restrictions, but the zone’s factories were still far from healthy. The IHS Markit manufacturing purchasing managers’ index (PMI) – a gauge of the sector’s health – rose to a final reading of 39.4 in May after [...]
UK and Italy seek to further ease lockdowns as scientists urge caution June 1, 2020 European countries like the UK and Italy are readying themselves to ease lockdown measures further despite scientists urging caution as coronavirus cases continue to rise. The UK is still seeing a steady rise in coronavirus infections but governments face pressure to restart their economies after Europe’s lockdowns triggered the biggest peacetime downturn on record. The [...]
Asian stocks hit three-month high as US-China deal stays intact June 1, 2020 Asian stocks have risen to a three-month high despite US-China tensions, after President Donald Trump stopped short of economic retaliation against Beijing over Hong Kong on Friday. Markets in Asia were also unfazed by the fiery protests raging in the US after the death of black man George Floyd at the hands of police. Some [...]
Hinkley Point C construction continues apace with completion of reactor base June 1, 2020 Construction at Hinkley Point C nuclear power station in Somerset remains on track despite the coronavirus crisis, with contractors today meeting a key milestone in the building of the new plant. With work continuing under special coronavirus measures, workers at the plant have completed the 49,000 tonne base for the second nuclear reactor, meeting a [...]