Daily News Updates:
PWS Southport daily news and market updates keeping you up to date on coronavirus news and how global stock markets are reacting to the ongoing pandemic.
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Coronavirus: Daily News and Updates
Friday 29th May 2020
Coronavirus: Businesses must pay towards furlough scheme from August, chancellor announces
FTSE 100 index falls 2.53% mirroring what happened at the end April
After three days of positive gains, the FTSE 100 index ends the short week due to the bank holiday up slightly and up 3.00% for the month of May.
Global markets have followed the trend with Asia-Pacific, European and US markets all down on Friday.
Futures indicating a fall in global markets on the last day of the month
Asia-Pacific markets are trading down on the last day of the month. However, apart from the Hang Seng in Hong Kong May has turned out to be a positive trading month.
Similarly in Europe, markets have traded positively in May, although futures indicate a decline on the last trading day of the month.
FTSE 100 Index looking to end the month positive in May 2020
In London, the FTSE 100 index should end the month up from the previous month after a sharp fall at the end of April and the beginning of the month.
Positive sentiment and not fundamentals have driven the index above the 6,000 point market with lockdown measures continuing to be relaxed as businesses start to reopen in the UK and around the world.
However, there needs to be a word of cautious. The increased tension between the US and China likely to escalate and the possibility of a second wave of the Coronavirus later in the year markets could make a downward turn.
Trump move could scrap or weaken law that protects social media companies
WASHINGTON (Reuters) – President Donald Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter (TWTR.N) and Facebook (FB.O), in an extraordinary attempt to regulate social media platforms where he has been criticized.
Hong Kong stocks slide as Trump signals new policies in response to Beijing power grab
South China Morning Post – Hong Kong stocks retreated, keeping the benchmark index on course for a fourth monthly loss this year. Investors are wary of reprisal as President Donald Trump prepares to unveil new policies after Beijing endorsed a new security law for the city.
Sky News Live
Thursday 28th May 2020
Premier League returns on June 17
UK still a long way from agreeing EU trade deal, negotiator says
LONDON (Reuters) – Britain is quite a long way from agreeing a free trade deal with the European Union and will at some point have to prioritise its preparation for leaving the bloc without a deal, its chief negotiator said on Thursday.
EasyJet to slash staff by 30% as it warns business won’t fully recover until 2023
Global stock markets set to continue the upward trade
In Japan, the Nikkei 225 is up 2.30% before the close with mainland China and Hong Markets heading in the same direction after a morning of loses. The SEE Composite Index is now up 0.20% in afternoon trading with the Hang Seng slightly down at 0.15%.
Meanwhile, in Europe, futures indicate the FTSE 100 index start the day up over 1.00%, with Germany. France, Spain and Italy following the same trend.
Hong Kong stocks face another sell-off amid escalating US-China tensions while regional markets rally
South China Morning Post – Hong Kong and mainland Chinese stocks fell in another round of sell-off, gripped by widening US-China political rifts after two major decisions on the city’s autonomy and a court decision against a senior Huawei Technologies executive.
Wednesday 27th May 2020
Coronavirus pushes global credit rating downgrade threat to record high
Hong Kong stocks snap rebound as US considers range of sanctions to punish China over security law
South China Morning Post – Hong Kong stocks dropped for the first time this week, as US President Donald Trump said that his administration would soon take action against Beijing’s proposed legislation that will crack down on dissidents in the city, further dialling up hostility between the world’s two largest economies.
Tuesday 26th May 2020
Global stock markets end the day in postive territory
The continual positive sentiment surrounding the easying of lockdown measure and once again Covid-19 vaccine hype sent markets around the world on an upward trajectory.
In the UK, the FTSE 100 index rose above the 6,000 point mark with a 1.24% gain following European markets after the Monday bank holiday. Similarly in the US, the Dow Jones up 2.70% and the S&P 500 up 1.80% after the Memorial Weekend.
U.S. consumer confidence stabilizes; new home sales surprise
WASHINGTON (Reuters) – U.S. consumer confidence nudged up in May, suggesting the worst of the novel coronavirus-driven economic slump was likely in the past as the country starts to reopen, but it could take a while for the economy to dig out of its hole amid record unemployment.
Coronavirus: Deaths linked to COVID-19 have fallen to six-week low, official figures show
European markets looking to follow Asia-Pacific markets after yesterdays gains
With the UK and US markets closed yesterday for the bank holiday and Memorial Day European markets in the region had a positive day on Monday with Germany’s DAX index up 2.60% and the CAC 40 in France up 1.90%.
Current futures indicate the trend will continue on Tuesday with the FTSE 100 likely to start the day up over 1.00% on news of lockdown restrictions being easied and businesses starting to reopen in Europe.
Asia-Pacific markets continue upward trend
With lockdown measure being to be relaxed tock markets in the region remain in positive territory on Tuesday with the NIkkei 225 up 2.60% before the close and both the Hang Seng and China’s SSE Composite Index up 2.00% and 0.80% in afternoon trading.
China’s economic strategy shift shows Xi Jinping is preparing for ‘worst case scenario’, analysts say
South China Morning Post – China’s move to double down on a pivot away from export-led growth in favour of developing its domestic market reflects a strategic shift by Beijing to prepare for the “worst case scenario” after the coronavirus pandemic, according to analysts.
Friday 22nd May 2020
Likely to be a bumpy ride on global stocks markets on Friday
Asia-Pacific stock markets are ending the week on a downward trend with US-China relations and issues in Hong Kong, and the relationship with mainland China. The Hang Seng index is down 5.10% in afternoon trading and China’s leading SSE Composite down 1.70%. Both indices will end the trading week down.
In Japan, the Nikkei 225 is trading down 0.80% before the close on Friday.
Currently, futures are indicating the FTSE 100 will drop over 1.00% when the market opens with European and then US stocks heading in the same direction; however, western stocks markets are potentially looking at finishing the working week up on the previous week.
Hong Kong stocks widen losses to 4.6 per cent as Beijing prepares to pass security law to tighten grip on city
South China Morning Post – Hong Kong’s stocks dropped by the most in seven weeks after Beijing said it plans to pass a security law that will curb secession and sedition in the city, a move that will raise the political risk in the former British colony and heighten tension between China and the US.
Thursday 21st May 2020
Global Markets in the red
A sea of red on global stock markets after a positive start to the week.
The FTSE 100 index fell back 52 points losing 0.86 per cent.
Asia-Pacific stocks remain unchanged in afternoon trading
In Japan, the Nikkei 225 is up slightly after the latest export figures for April showed a decline of 21.9 per cent compared to the year before.
In Hong Kong and China, both main indexes are in negative territory with European futures pointing to a drop in markets on Thursday.
RESULT OF THE SALE BY AUCTION OF £3750 MILLION OF 0¾% TREASURY GILT 2023
The UK Debt Management Office (DMO) has sold 3,750 million of gilts at an average negative yield of -0.03 per cent on Wednesday, with the Bank of England indicating that interest rates may fall below zero per cent in the future.
Wednesday 20th May 2020
RESULT OF THE SALE BY AUCTION OF £3750 MILLION OF 0¾% TREASURY GILT 2023
The UK Debt Management Office (DMO) has sold 3,750 million of gilts at an average negative yield of -0.03 per cent today.
Global stocks markets steady even with doubts surrounding Covid-19 vaccine
Asia-Pacific markets mainly remained unchanged with European following suit after hopes of a vaccine pushed markets up on Monday.
Coronavirus: Rolls-Royce to cut 9,000 jobs amid virus crisis
Coronavirus: China, US consumers turn on each other’s goods as pandemic drives commercial nationalism
South China Morning Post – The coronavirus pandemic is fuelling mistrust among consumers in China and the United States about each country’s products, as the momentum for a decoupling between the world’s two largest economies intensifies.
Tuesday 19th May 2020
FTSE 100 ends the day above 6,000 points but down 0.77% at the end of trading
London’s main index kept its head above 6,000 points after yesterdays 4.29 per cent gain with unemployment figures and the Chancellor warning of a severe recession in the UK.
In New York, the Dow Jones is trading down 0.30 per cent and the S&P 500 steady in afternoon trading.
Coronavirus: Extra bank holiday for October being considered
People claiming unemployment benefit surges to nearly 2.1m
The office of National Statistics (ONS) has released the latest UK unemployment figures. The number of people claiming the benefit rose to 2,096,600 in April 2020 from 1,240,100 in March 2020.
The jump is attributed to Covid-19 and is likely to increase further in the next couple of months and potentially heading towards the January 1993 figure of 2,937,500.
Germany’s builders prop up economy as it slides into recession
Asia-Pacific markets carry on were Europe and America left off
After a positive day on Monday with gains being fuelled by the news of trials on a Covid-19 vaccine and government stimulus packings, Asia-Pacific stock markets continue the upward trend.
Japan’s Nikkei 225 is up 1.80 per cent before the close with Hong Hong’s Hang Seng and China’s SSE Composite index up 1.80 and 0.63 per cent in afternoon trading.
Coronavirus row won’t kill US-China trade deal, even as tensions rise, one of phase one’s top US negotiators says
South China Morning Post – While US-China tensions “are at a higher point” than ever before, one of the architects of the phase one trade deal does not believe the beleaguered accord is on the verge of collapse.
Monday 18th May 2020
A positive start to the new working week as global market surge
Based on the current circumstances you wouldn’t think there was a global coronavirus pandemic.
On Monday markets in the Asia-Pacific region started on a positive note but nowhere near what has happened in European and America markets.
The news of a positive coronavirus trial vaccine and confirmation of government rescue plans by the European Union and America have boosted sentiment.
The FTSE 100 index finished the day up nearly 250 points at 6,048 a gain of 4.29 per cent on Friday’s close. The German Dax index was trading up 5.67 per cent before the close and the Dow Jones and S&P 500 are both trading up over 3.00 per cent in late morning trading.
US markets following Europe with early gains
The Dow Jones and S&P 500 are both up over 3.00 per cent in morning ng trading following the gains on European markets.
FTSE 100 Index up 2.00 per in early Monday morning trading
The FTSE 100 surges up over 2.00 per cent with mining stocks Fresnillo and Glencore pushing the index above 5,900 points.
Japan’s GDP falls 3.4 per cent in the first quarter but markets are up in Asia-Pacific region
Even with negative GDP news Japan’s Nikkei 225 is up 0.63 per cent before the close on Monday. The Hang Seng in Hong Kong and China’s main SSE Composite Index are both trading up in afternoon trading.
Current futures would indicate a positive day on the major European stock markets with the FTSE 100 potentially starting the day 1.00 per up on Fridays’ close of 5,799.
Coronavirus: European countries set to further relax restrictions
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