Coronavirus: German economy could shrink almost 10 per cent in second quarter April 8, 2020 The German economy is set to shrink at the fastest rate since at least 1970 in the second quarter as coronavirus containment measures cause a deep recession, some of the countries top think tanks have said. German GDP will fall by 9.8 per cent in the second quarter of the year, the biannual joint economic [...]
Robert Walters blames ‘savage’ coronavirus for UK profit hit April 8, 2020 Recruiter Robert Walters has bemoaned the “savage” economic impact of coronavirus as UK fee income slumped 29 per cent over the first quarter of 2020. The recruitment agency is seen as an economic bellwether and took a hit from Brexit uncertainty and the lead-up to December’s General Election in 2019. “It’s largely a hangover from [...]
FTSE 100 gains cool despite coronavirus cases starting to fall April 7, 2020 The FTSE 100 finished the day up two per cent after cooling gains in US stocks forced the London index down from a three per cent high. However, it still posted its second day of gains as traders became optimistic that Europe could soon relax its coronavirus lockdowns as the rate of new cases slowed. [...]
US stocks jump on signs coronavirus is slowing April 7, 2020 US stocks have surged for the second day as investors cheer signs that the coronavirus outbreak may be slowing and that lockdowns may soon be eased. Wall Street’s major stock indices all opened sharply higher. The Dow Jones was up 3.8 per cent in early trading and the S&P 500 was up 3.2 per cent. [...]
UK petrol prices near £1 on global oil market slump April 7, 2020 Petrol prices around the country have hit their lowest levels since 2016 as the prospect of fuel trading for £1 a litre grows more likely amid the global slump in oil prices. According to the Department of Business, Energy, and Industrial Strategy (BEIS), petrol is currently being sold for an average of £1.10 per litre, [...]
Demand for UK bonds surges as government funds coronavirus spree April 7, 2020 Investor demand for UK government bonds was its highest for three years today as Britain sold £3.25bn worth of debt to help fund its unprecedented coronavirus support programmes. Buyers bid 3.05 times the £3.25bn available of the 0.125 per cent return three-year Gilt (UK government bond). It sold at an average yield of 0.204 per [...]
UK productivity shows weak growth before coronavirus hit April 7, 2020 UK productivity grew by 0.3 per cent year on year in the final quarter of 2019, official statistics have shown, marking relatively weak growth before coronavirus hit the economy. The figure was unchanged from the previous quarter but was an improvement from the previous four quarters of zero growth or contraction, the Office for National [...]
Plus500’s revenue surges 500 per cent as trading activity booms April 7, 2020 Plus500 has reported “exceptional” revenues and earnings in the first quarter, reflecting increased levels of customer activity as the coronavirus crisis hit. The spreadbetting platform increased revenues in the first quarter by 487 per cent to $316.6m, compared to the same period last year. It is equivalent to 89 per cent of full year 2019 [...]
Coronavirus: Asian stocks rise as outbreak eases in Europe April 7, 2020 Asian stocks rose for a second day on signs that the coronavirus outbreak may be starting to recede in Europe and plateau in New York. Japan’s Nikkei rose 2.3 per cent, and this week has undone most of last week’s losses after prime minister Shinzo Abe promised a massive $991bn economic stimulus package due to [...]
Pound plunges after Boris Johnson admitted to intensive care April 6, 2020 The pound fell sharply against the dollar and euro this evening after Prime Minister Boris Johnson was admitted to intensive care. The Prime Minister was permitted to St Thomas’ Hospital last night with persistent symptoms of coronavirus. He moved to intensive care at roughly 7pm this evening after his condition deteriorated, Downing Street confirmed. The [...]