FTSE 100 falls as coronavirus stimulus rally runs out of steam March 27, 2020 Britain’s FTSE 100 stock index tumbled today after three consecutive days of gains as uncertainty about the effects of coronavirus returned to the fore. The FTSE 100 closed 5.3 per cent lower at 5,510 points. It had risen more than 16 per cent over the previous three days after the US launched a $2 trillion [...]
Oil prices tumble as coronavirus recession looms March 27, 2020 Oil prices have tumbled as coronavirus containment measures dent demand and the virus spreads rapidly in the US, the world’s biggest economy. Brent crude was down four per cent this afternoon at $27.50 per barrel. US crude was five per cent lower at $21.47 per barrel. Prices were on track for their fifth weekly drop [...]
US stocks fall as coronavirus fears return March 27, 2020 US stocks have opened lower following one of Wall Street’s best three-day runs in history as economic concerns about the coronavirus outbreak once again weighed on investors’ minds. The S&P 500 index was down 3.6 per cent in early trading, the Dow Jones was four per cent lower and the Nasdaq had fallen 3.7 per [...]
Coronavirus dividend cuts produce £4.4bn hit to investor portfolios March 27, 2020 With more UK firms announcing coronavirus-fuelled dividend cuts this week, the total loss of investor income so far this year is now £4.4bn. The pace of dividend cuts is accelerating as coronavirus wreaks havoc on world economies. In March 116 companies have suspended their dividends totalling £4.2bn, according to investment fund AJ Bell. That compares [...]
China’s Xi Jinping offers Donald Trump help with coronavirus March 27, 2020 Chinese President Xi Jinping has offered President Donald Trump China’s support in fighting coronavirus as it spreads rapidly through the US, bringing tensions between the two countries down a notch. Xi’s offer came after the number of coronavirus cases in the US overtook those in China. The US now has more than 84,900 confirmed infections [...]
How are the central banks battling coronavirus? March 27, 2020 | City Talk As countries ramp up efforts to control the pandemic, the economic impact of Covid-19 is having an impact on currency values As the reality of the pandemic begins to bite, it’s clear that normal rules no longer apply. Economies across the world are plummeting and governments are scrambling to protect as much as they can [...]
Coronavirus: China factory profit slump bodes ill for US and Europe March 27, 2020 Profits at China’s factories crashed in January and February as coronavirus ravaged the economy, in a sign of the heavy toll the pandemic is set to take on companies around the world. Chinese industrial firms’ profits plunged 38.8 per cent year on year to 410.7bn yuan (£47.63bn). It was the steepest fall since records began [...]
Asian stocks climb after Wall Street’s record rise on $2 trillion US stimulus March 27, 2020 Asian stocks climbed again today as traders bet on even more economic stimulus to tackle the fallout from the coronavirus outbreak. Japan’s Nikkei index surged 3.9 per cent overnight while Hong Kong’s Hang Seng index also climbed 0.6 per cent. MSCI’s broadest range of Asia-Pacific shares outside Japan gained 3.3 per cent. Asian stocks posted [...]
Coronavirus: Consumer confidence plunges but avoids 2008 levels March 27, 2020 Consumer sentiment has plummeted due to coronavirus, although it has yet to fall to the levels reported during the 2008 financial crisis, according to the latest research. Sentiment dropped 29 points to minus 26 between December last year and this March, the sharpest quarterly fall in more than 10 years. However it is higher than [...]
Coronavirus: US stocks shake off dire unemployment data March 26, 2020 US stocks shook off awful unemployment data this afternoon to climb higher as traders pinned their hopes on a $2 trillion economic stimulus package. The Nasdaq rose 3.5 per cent by 4.30pm, while the Dow Jones climbed a whopping 4.9 per cent. The S&P 500 posted a large rise of 4.3 per cent. Yesterday the [...]