GSK beats expectations with strong first quarter performance April 29, 2020 Pharmaceuticals giant Glaxosmithkline (GSK) beat analysts’ expectations with its first quarter results today, and said it remained on course to fulfil its 2020 guidance. The performance, which the firm labelled “strong”, was founded on high demand for its shingles treatment shingrix and higher sales of pain medications during the coronavirus crisis. GSK shares were flat [...]
Barclays boss: Government prepared to go ‘well beyond’ £330bn in business support April 29, 2020 Barclays boss Jes Staley has said that the government is prepared to go “well beyond” its initial £330bn coronavirus business rescue package, labelling its efforts so far “an extraordinary tsunami”. Speaking to analysts this morning, Staley said: ‘£330bn was a first indicative number, but I think it’s pretty clear that they are willing to go [...]
Airbus profit halves amid ‘gravest crisis’ in aviation history April 29, 2020 Aerospace giant Airbus saw its profit halve in the first quarter as it faced up to what its chief executive labelled the “gravest crisis” in aviation history. The spread of coronavirus has led to widespread grounding of flights around the world, prompting the French-German firm’s orders to plummet. In the first quarter, the company’s profit [...]
Barclays’ first quarter profit falls by £600m amid coronavirus disruption April 29, 2020 Barclays’ profit has tumbled to £923m in the first quarter, down from £1.54bn in the same period last year, due to the coronavirus pandemic. it revealed today. The bank also booked an impairment charge of £2.1bn, which it said reflected its “initial estimates of the impact of the pandemic”. However, Barclays’ shares jumped five per [...]
Oil prices stage comeback to push up stock markets April 29, 2020 Oil prices staged a small comeback this morning, boosting stock markets, as data from the US suggested crude inventories were not filling as fast as had been previously feared. After several weeks of rapid price swings, Brent crude gained three per cent this morning, recovering to $21. The gains boosted global stock markets, with the [...]
British Airways owner IAG sees shares plummet after job cuts announcement April 29, 2020 Shares in British Airways owner IAG plunged this morning after it yesterday announced that it could cut up to 12,000 jobs at the UK flag carrier. As markets opened, shares in the airlines group dropped nearly seven per cent, in another blow to the firm’s already decimated market cap. The firm said that the unprecedented [...]
Astrazeneca retains guidance after strong first quarter performance April 29, 2020 Pharmaceuticals giant Astrazeneca reported strong revenue and profit growth for the first quarter of 2019 amid the coronavirus disruption. The Anglo-Swedish company beat analyst expectations and maintained its sales and earning guidance for the whole year. Shares in the firm rose over one per cent as markets opened. The figures Revenue increased 16 per cent [...]
Oil prices reverse losses as US government considers aid for sector April 28, 2020 Oil prices reversed their losses this afternoon after US government officials indicated that it would provide support to the battered sector. US standard West Texas Intermediate, which earlier today fell nearly 20 per cent, swung back to stand over three per cent up at $13.21. The move came after US treasury secretary Steve Mnuchin said [...]
Coronavirus: European airlines continue to tap governments for aid April 28, 2020 European airlines continued to tap their respective governments for state aid in order to survive the coronavirus crisis, which has shut down air travel across the world. German state carrier Lufthansa is still in negotiations with federal authorities over a €9bn loan deal, despite overnight reports that an agreement had been reached. Shares swiftly climbed [...]
Oil prices plunge: WTI nears $10 as storage fears increase April 28, 2020 Oil prices continued to slide this morning as traders rushed to withdraw their money from upcoming futures delivery contracts amid fears they will have nowhere to put the substance. With storage space running severely scarce around the world, exchange-traded funds are trying to avoid a similar situation to last week’s price crash by selling out [...]
