US stocks climb despite jump in jobless claims April 23, 2020 US stocks have opened higher despite another surge in new claims for unemployment insurance as investors choose to focus on a new stimulus package from Congress. Wall Street’s Dow Jones index climbed 0.6 per cent in early trading while the S&P 500 rose 0.7 per cent. The Nasdaq was up 0.8 per cent. European stocks [...]
US jobless claims hit 26m since coronavirus lockdown began April 23, 2020 The number of Americans making jobless claims surged again last week, meaning roughly 26m people made unemployment claims in a five-week period that has seen coronavirus wipe out all of the jobs created since the financial crisis. New jobless claims hit 4.4m last week, the US Labor Department said today. This was a slight fall [...]
Bank of England policymaker: UK economy in worst slump ‘in centuries’ April 23, 2020 The UK economy is experiencing the fastest and deepest contraction in “the past century or possibly several centuries” during the coronavirus lockdown, a Bank of England rate-setter has said. However, Bank monetary policy committee (MPC) member Gertjan Vlieghe, also said that “in principle” the economy “should return approximately to the pre-virus trajectory” if it is [...]
UK to raise £225bn from bond sales to fund coronavirus measures April 23, 2020 The UK government is planning a huge increase in bond sales to fund its economic response to the coronavirus, selling roughly four times as much debt over the next three months than originally planned in the March Budget. The Treasury said it will try to raise £180bn from investors in the bond markets over the [...]
UK economy suffers unprecedented slump amid coronavirus lockdown April 23, 2020 The UK economy suffered an unprecedented blow in April as the coronavirus lockdown choked off demand, according to a closely watched gauge which slumped to its lowest level since records began. The IHS Markit/Cips composite purchasing managers’ index (PMI) crashed to a reading of 12.9 in April. This was the worst score since the survey [...]
Eurozone output and employment suffer record falls in April April 23, 2020 The Eurozone economy suffered the biggest falls in employment and activity on record in April as governments across the continent all but shut down their countries in response to the spread of coronavirus. The IHS Markit composite purchasing managers’ index (PMI) – a closely watched gauge of activity – collapsed to 13.5, the lowest score [...]
Monzo applies for US banking licence in bid to tap giant market April 22, 2020 UK challenger bank Monzo has applied for a US banking licence so it can offer a full suite of services in the world’s biggest financial market. The fintech firm, known for its pink “hot coral” cards and sleek app, applied to the US authorities for a licence on Monday in the most important step in [...]
Eurozone consumer confidence hits lows last seen in financial crisis April 22, 2020 European consumer confidence tumbled this month towards the record lows seen during the financial crisis in 2009 as the continent braces itself for a deep recession caused by coronavirus lockdowns. The European Commission (EC) today said its gauge of consumer confidence for the Eurozone fell to minus 22.7 points, down from minus 11.6 in March. [...]
US stocks open higher on earnings and coronavirus stimulus April 22, 2020 US stocks have opened sharply higher as investors put oil market chaos behind them to focus on corporate earnings and a new coronavirus stimulus package from Congress. Wall Street’s Dow Jones stock index was up 1.6 per cent just after the bell. The S&P 500 was 1.6 per cent higher and the Nasdaq had climbed [...]
FTSE 100 rises as investors look past tumbling oil prices April 22, 2020 The FTSE 100 has risen as investors look past the chaos in oil markets to signs that the coronavirus outbreak could be peaking and some surprisingly positive company results. Britain’s FTSE 100 stock index closed up 2.3 per cent this afternoon, at 5770.63. It had fallen around three per cent yesterday. European stocks were also [...]
