Coronavirus
Daily News
Updates
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 June 2020
Tuesday 30th June 2020
FTSE 100 ends the day negative but positive in quarter 2 of 2020
After three days of gain and positive trading in the Asia-Pacific region on Tuesday, the FTSE 100 index dropped 0.90% ending the day on 6,169 points. However, on a positive note, the index gains nearly 9.00% in the quarter but is still down 18.00% year to date.
‘So far so V’, Bank of England’s Haldane says of UK recovery
Mixed opening on US stock markets
The Dow Jones Industrial Average has opened down in early trading on Tuesday. However, the S&P 500 and Nasdaq Composite are both up 0.24% and 0.70%.
FTSE 100 index on course to end the day down
The main index in London is likely to end the day down after Royal Dutch Shell warned of writedowns and revised GDP figures dragging on the FTSE 100.
PM Johnson demands Britain ‘Build, build, build’ to beat COVID-19 slump
FTSE 100 looking for the fourth day of gains
Current FTSE 100 futures indicate that the index will open flat on Tuesday morning, but the index will be hoping for another day of gains to maintain its recent positive run.
Positive manufacturing news from China lifts markets in the region
Stock markets in the Asia-Pacific region have clawed back some of Monday’s losses after better than expected news about China’s manufacturing sector.
The Nikkei 225 in Japan is up 1.33% before the close with mainland China’s SSE Composite trading up 0.60%, and the Hang Seng in Hong Kong is slightly up by 0.15%.
UK GDP figure amended for the first quarter of 2020
The office for National Statistics has published amended GDP figures for January to March 2020. The number is slightly lower than the previous estimate of a 2.00% contraction, with a revised downgrade of 2.20%. The figure is the most significant drop since quarter 3 of 1979.
Coronavirus recovery plan: Boris Johnson channels 1930’s US ‘new deal’ with building strategy
China economy steadied further in June, as slow recovery from coronavirus continued
South China Morning Post – China’s economic activity steadied in June, with manufacturing and services both stabilising as the long way back from the coronavirus lockdowns continued.
Sky News Live
Monday 29th June 2020
FTSE 100 index ends Monday up 66 points at 6,225
After a drop in the morning session, the FTSE 100 index in London finished the day up 1.08% with AIG the BA owner up 4.00%.
US markets are in positive territory after Friday’s losses with the Dow Jones up 1.90% and the S&P 500 up 1.30% in afternoon trading.
Boeing shares soar after company cleared for 737 Max tests
Coronavirus: Mortgage approvals slump 90% from pre-lockdown levels
Dow futures on rise to kick off holiday-shortened week even as global coronavirus cases top 10 million
FTSE 100 trading up after morning dip and is heading for the third day of gains
After opening down in the morning session, the FTSE 100 index is in positive territory and up 0.70% in afternoon trading.
Current futures have US markets opening up with both the Dow Jones and S&P 500 trading positive after Friday’s losses.
Johnson pledges ‘Rooseveltian’ spending boost after COVID hit
After two days of small gains the FTSE 100 is likely to follow Asia-Pacific markets down
Concerns over the weekend that coronavirus infections are increasing will weigh heavily on global stock markets over the coming days.
In the Asia-Pacific region, the Nikkei 225 in Japan is trading down 2.30% before the close. In Hong Kong, the Hang Seng is 1.40% lower in the afternoon session.
Current futures have the FTSE 100 opening down between 20 and 30 points on Monday morning.
Coronavirus: Global COVID-19 deaths pass half a million as North and South America struggle to overcome first wave
Hong Kong’s battered Hang Seng Index expected to pick up steam in second half of year. No, really
Friday 25th June 2020
Dow Jones and S&P open lower after concerns over economy and coronavirus spike
US markets have opened lower, and the FTSE 100 after a solid start could end the day in negative territory.
Markets have reacted to news that some US States may stop lockdown easing due to spikes of coronavirus occurring due to bars and restaurants reopening.
U.S. consumer spending rebounds; income plunges
PM Johnson says: don’t take too many liberties with COVID guidance
Mixed bag in Asia but European stock markets anticipate a positive opening
Futures currently indicate the FTSE 100 will open up 50 points in early trading on Friday continuing to recover after Wednesday’s 3.00% loss.
In Hong Kong, the Hang Seng index is trading down 0.80% in afternoon trading; However, the main SSE Composite index in China is up 0.30%.
The Nikkei 225 in Japan is trading 1.13% up before the close on Friday afternoon.
Shopping centre giant Intu ‘likely’ to appoint administrators
Hang Seng Index on track for second straight session of losses on concerns about prolonged virus impact and US-China jitters
South China Morning Post – The Hang Seng Index declined 0.6 per cent to 24,640.98 as of the noon lunch break, with 37 of the 50 constituent members posting losses. That put the benchmark on track for a second straight session of losses.
Thursday 25th June 2020
Worst may be over for battered British economy – Reuters poll
Global stocks market jitters due to the risk of second Coronavirus wave
As we saw on Wednesday, any negative sentiment is going to drive stock markets down. The issue surrounding a second wave and new coronavirus hotspots around the world is likely to see another day of negative returns.
Currently, the Nikkei 225 is trading down 1.22% before the close with the Hang Seng in Hong Kong down 0.50% in afternoon trading.
One bright spot is the main SSE Composite Index in China, which is up 0.30%.
After yesterday’s 3% drop the FTSE 100 is likely to trade lower on Thursday
Current futures have the FTSE 100 index opening 20 points down before the market opens at 8.00 am.
Coronavirus: Government to tear up red tape to allow more outdoor drinking and dining
Hong Kong’s battered property stocks find themselves on a surprising roll – but how long can it last?
South China Morning Post – Battered Hong Kong property stocks have been on a roll over the past four weeks, led by pacesetters Wharf REIC, owner of the Harbour City and Times Square luxury shopping centres, and New World Development.
Wednesday 24th June 2020
Markets flat in Asia and FTSE to open down on Wednesday
After gains on global stock markets on Tuesday, trading in the Asia-Pacific region is flat, and futures indicate European markets to fall in morning trading on Wednesday.
Coronavirus: Some businesses left out of PM’s list of places that can reopen – so what’s still not allowed?
Hong Kong traders turn a bit cautious on coronavirus, putting pressure on Hang Seng Index
South China Morning Post – The Hang Seng Index seesawed between small gains and losses in early trading. It had a teensy gains of less than 0.1 per cent as of 12pm local time. The Shanghai Composite Index gained 0.2 per cent at its lunch break.
Tuesday 23rd June 2020
Coronavirus: Two-metre rule reduced as pubs and restaurants in England given green light to reopen from 4 July
European stocks near two-week high after upbeat PMI data
Coronavirus: Cinemas, museums and galleries to reopen as PM takes axe to two-metre distancing rule
Hong Kong stocks see big swing to gain as Trump says US-China trade deal is ‘fully intact’ after confusion over aide’s comment
Monday 22nd June 2020
Coronavirus: Millions ‘shielding’ in England will be able to meet up to six people from 6 July
FTSE ends lower due to coronavirus concerns
The FTSE 100 index ended the day down 0.76% on concerns about the growing number of global coronavirus cases and the increase of R in Germany to 2.88.
However, markets in the US have started the week on the front foot. The Dow Jones is up 0.40% and the S&P 500 up 0.50% in afternoon trading.
UK reports lowest daily COVID-19 death toll since mid-March: 15 deaths
LONDON (Reuters) – The number of people confirmed to have COVID-19 who have died has risen by 15 to 42,647, the lowest daily toll since mid-March, health officials said on Monday.
Opinion: Stocks are heading toward a bearish pattern — this move could turn it around
Futures indicate the FTSE 100 index of leading shares in the UK will start the week negative
Current futures on Monday morning imply the FTSE 100 index will open 60-70 points lower than Friday’s close.
In the Asia-Pacific region markets are currently down with the Nikkei 225 in Japan trading 0.20% lower before the close.
In Hong Kong, the Hang Seng is down 0.90% in afternoon trading and the SSE Composite in China down 0.13%.
Coronavirus: Boris Johnson set to announce cut in two-metre social distancing rule tomorrow
Sky News – Boris Johnson is expected announce tomorrow a reduction in the two-metre social distancing rule.
Hong Kong stocks retreat as China speeds up security law, eyes on second wave of coronavirus pandemic
South China Morning Post – Hong Kong stocks fell in early trading as investors focused on the advancement of the controversial national security law in Hong Kong and an increase in new coronavirus infection worldwide.
Friday 19th June 2020
After a rocky start, the FTSE 100 ends the week up over 3%
Global stock markets continue to defy logic with the FTSE 100 in London ending the day up 1.07% and 3.30% for the week.
The index is up 19.00% from March 2020 low and down 14.00% year to date. Even with the backdrop of the worst GDP figures on record and rising unemployment stock markets continue to rally forward on positive news.
UK lowers Covid-19 alert level to ‘epidemic’ from ‘exponential’
Global stock markets looking to end the week on a positive note
Asia-Pacific markets are looking at ending the week with a positive trading day.
In Japan, the Nikkei 225 is up 0.55% before the closed and markets in Hong Kong and China are both up with the Hang Seng and SSE Composite index both up nearly 1.00% in the afternoon session.
In Europe, the futures market indicate a positive opening with the FTSE 100 estimated to open up 30 points cancelling out Thursday’s loss.
In the US the futures market anticipate the Dow Jones and S&P 500 both to open up 0.30% at the bell.
Coronavirus: UK borrowing soars to record £103.7bn in a month
Hong Kong, China stocks mixed as US President Donald Trump warns of possible US-China ‘complete decoupling’
Thursday 18th June 2020
FTSE 100 ends the day down at 6,224 points
Global stock markets fall on fears of a second wave of Covid-19 and in the UK concerns over unemployment levels in the future. FTSE 100 index ended the day down 0.47% with the Dow Jones in the US down 0.34% in afternoon trading.
Coronavirus: Bank pumps £100bn into UK economy to aid recovery
U.S. weekly jobless claims remain high, second wave of layoffs blamed
After two positive days, the FTSE 100 starts Thursday down 30 points
The FTSE 100 index drops over 0.50% at the start of trading on Thursday.
In the Asia-Pacific region, the Nikkei 225 in Japan is down 0.45% before the close, with the Hang Seng in Hong Kong 0.30% down in afternoon trading.
Hong Kong, most other Asia stocks slide on caution over coronavirus, Korean tensions; JD.com jumps in debut
South China Morning Post – Hong Kong and most other major Asia stock benchmarks slid, as investors turned defensive amid outbreaks of the coronavirus in mainland China and the US as well as escalating tensions on the Korean peninsula.
Wednesday 17th June 2020
There’s a one-in-three chance of a ‘massive’ disaster that could be worse than COVID-19, says Deutsche Bank
‘Few significant changes to shop prices’ but inflation still sinks to four-year low
Hong Kong stocks end flat in choppy morning session as Beijing imposes lockdown amid surge in coronavirus cases
South China Morning Post – China stocks dipped in morning trading on Wednesday, while the Hong Kong market swung between gains and losses, as investors focused on Beijing’s move to impose a soft lockdown after a surge in Covid-19 infections.
Tuesday 16th June 2020
FTSE 100 ends the day up 2.94% at the close on Tuesday
Positive overnight sentiment and traders picking up Ashtead Group shares push the FTSE 100 index up nearly 3.00% on Tuesday.
The Dow Jones and S&P 500 are both trading up over 1.50% in the US in afternoon trading.
However, current Asia-Pacific futures would indicate Japan and China opening in the red on Wednesday.
Scientists hail dexamethasone as “major breakthrough” in treating COVID-19
BMO becomes first property fund to lift suspension
Money Observer – The fund is the first of several open-ended property funds forced into suspension in March to start trading again.
FTSE 100 futures indicating the index could open up over 2%
With Asia-Pacific markets rallying on Tuesday and US markets closing up on Monday after the US Federal Reserve support announcement, European markets look likely to follow the same direction.
In Japan, the Nikkei 255 is up 4.80% before the close, and the Hang Seng in Hong Kong is trading 2.80% higher in afternoon trading.
After the announcement of new Coronavirse clusters in China, the main SSE Index has recovered Monday’s loses and is trading up 1.30%.
FTSE 100 futures indicate that the index will be trading up over 100 points when the market opens at 8.00.
Hong Kong, Asia-Pacific stocks rally, following US gains on latest bond-buying step by Federal Reserve to boost confidence
South China Morning Post – Hong Kong and other major Asia-Pacific benchmarks rebounded, tracking gains in US markets after a new Federal Reserve corporate bond-buying programme boosted sentiment even as investors worry about new outbreaks of the coronavirus.
Coronavirus: 612,000 UK workers lose their jobs during lockdown
Monday 15th June 2020
Current futures indicate global markets will be positive on Tuesday.
Asia-Pacific futures are indicating stocks will be positive on Tuesday with the Nikkei 225 in Japan and the Hang Seng in Hong Kong both looking at a potential 1.00% jump when the markets open in the region.
FTSE 100 futures are trading up 70 points at 19.30 anticipating the index to open up on Tuesday.
After initial falls on Monday European and American Stock Markets Rally
The FTSE 100 in London ended the day down 0.66%, but in early trading, the index was down over 2.00%.
US markets opened down, but the Dow Jones is up nearly 1.00% in afternoon trading with the S&P 500 also up 1.20%.
Primark pulls the crowds as stores reopen in England after lockdown
FTSE 100 drops below 6,000 points on Monday morning
The FTSE 100 index opened over 2.00% down on Monday morning. The index dropped after concerns over the weekend that a potential second spike of Covid-19 is on the cards.
The Nikkei 225 in Japan ended the trading day down nearly 3.50%, and in Hong Kong, the Hang Seng is down 2.25% before the close.
Hong Kong stocks end morning session lower amid fears of a second wave of coronavirus infections in China
South China Morning Post – Hong Kong and China stocks ended the morning trading lower on Monday, after a new cluster of Covid-19 infections in Beijing raised concerns over a second wave of coronavirus cases in the country.
Shops welcome back customers but businesses fear for their survival
Friday 12th June 2020
What to expect in global stock markets today
After the rout on Thursday with the FTSE 100 dropping 4.00% and the Dow Jones in America falling nearly 7.00%, how will markets react?
The Asia-Pacific region is down with the Nikkei 225 in Japan dropping 0.75% before the close. In Hong Kong, the Hang Seng is down 1.35% in afternoon trading.
Futures are indicating that the FTSE 100 index will start the day down 50 points. However, US market futures are anticipating some gains after Thursday’s loses.
UK GDP fell by 10.4% in the three months to April 2020
Figures from the Office for National Statistics confirm that the UK economy contracted by 10.40% in the three months from February to April 2020.
The figures estimate that the UK economy was 25% smaller in April than in February, with the accommodation and food services sector with growth 0f -40.90%.
Hong Kong security law: US may restrict capital flows through city, Treasury Secretary Steven Mnuchin says
South China Morning Post – China’s plans for the national security law, which critics say will erode Hong Kong’s autonomy, prompted Trump to begin withdrawal of Hong Kong’s special treatment under US law.
Brexit: Government ‘abandons’ plan for full border checks on EU goods
Thursday 11th June 2020
Dow slumps 5% on fears of spurt in virus infections, economic worries
Wild guesses as UK economists grapple with looming GDP plunge
LONDON (Reuters) – For once, economists are united on one thing: official data on Friday will show that Britain’s economy suffered a record collapse during April’s coronavirus lockdown.
Royal Dutch Shell and Rolls-Royce big fallers on Thursday morning
The FTSE 100 index drops over 2.50% with Royal Dutch Shell and Rolls-Royce both down over 8.00%. After yesterdays 7.50% drop Melrose Industries falls another 10.00% in early trading.
FTSE 100 index inline for a significant drop on Thursday morning
Another day of losses is likely on the FTSE 100 index as futures indicate a 2.00% drop when the market opens at 8.00 am. It will be the fourth day in a row the index has dropped as market sentiment becomes negative.
In the Asia-Pacific region, the Nikkei 225 in Japan is trading down 2.60% before the close.
The Hang Seng is down 1.81% in afternoon trading, with China’s main SSE Composite Index down 0.75%.
Hong Kong’s Hang Seng slips, but new economy stocks rally as NetEase sees surge on first day of trading
South China Morning Post – The Hang Seng Index fell about 1 per cent as of the Thursday lunch break, putting it on track for a second day of losses following a seven-session rally.
Coronavirus: Car scrappage scheme would help drive recovery – CBI
Wednesday 10th June 2020
FTSE 100 on a three-day losing streak
The FTSE 100 index fell again all be it by just 0.10%, with the BA owner IAG and Melrose Industries falling over 7.00% and Carnival and take away app Just Eat down 9.79% and 13.08% respectively.
Signs of panic-like selling emerge in the stock market Wednesday morning even as tech shares climb
Coronavirus: UK to see worst economic contraction among developed countries
World stocks hold fire ahead of Fed, dollar stumbles
FTSE 100 opens up after Tuesday’s 2% fall
The FTSE 100 index opened up on Wednesday morning after a drop of over 2.00% the previous day after The World Bank indicated the global economy might contract by more than 5.00% in 2020.
In the Asia-Pacific region, the Nikkei 225 is up 0.15% before the close, and the Hang Seng in Hong Kong is flat in afternoon trading.
Hang Seng Index fluctuates after longest rising stretch in 14 months; Cathay Pacific shares gain on rescue plan
South China Morning Post – Hong Kong’s stocks swung between gains and losses, as traders weighed whether equities had risen too quickly after a seven-day rally for the longest winning steak in 14 months.
Coronavirus: Pubs won’t open for another month as retail is warned on lockdown easing
Tuesday 9th June 2020
Coronavirus: Airlines set for ‘worst’ year on record’
A dose of reality hits European and American Stock Markets
In London, the FTSE 100 index takes a 2.11% hit to end the day down 136 points to 6,335 with BA owner IAG, Rolls Royce and RBS all trading down over 6.00% on Tuesday.
Currently, in the US, the Dow Jones is down 1.15% and the S&P 500 down 0.95% in afternoon trading.
Dow industrials pare early slump and Nasdaq carves out fresh all-time intraday record high
BAT, homebuilders drag London stocks lower
Coronavirus: Hong Kong bails out Cathay Pacific in £4bn rescue deal
The S&P 500 in America turns positive in 2020
On Monday, the S&P 500 index in America finished the day in positive territory for 2020, even on the backdrop of weak economic and company data.
On Tuesday markets in Australia ended the day up 2.00% with the Hang Seng in Hong Kong and the SSE Composite index in China both up 1.80% and 0.55% in afternoon trading.
However, the Nikkei 225 is slightly weaker down 0.25% before the close.
In Europe, futures markets are indicating on a positive day after yesterdays loses.
Hong Kong’s Hang Seng Index on track for longest winning streak in 14 months on recovery optimism
South China Morning Post – Hong Kong’s stocks climbed for a seventh day, with the benchmark set for the longest rising streak in 14 months, on optimism that a global recovery from the fallout of the coronavirus is gathering pace.
Monday 8th June 2020
After an initial drop, the FTSE 100 index is in positive territory
After falling over 60 points in early trading, the index is trading above Friday’s close.
However, how long will it last? As highlighted today by Martin Lewis, there is likely to be a spike in unemployment when the government furlough scheme changes in August. The consequences of higher unemployment levels and potential insolvencies could see the current positive sentiment change with a downturn in markets.
Lockdowns may have averted three million deaths in Europe by curbing COVID-19
FTSE 100 index opens down on Monday morning
In London, the FTSE 100 opens down 30 points to 6,450 after the early indication of the index opening in positive territory.
Coronavirus: Travel firms oppose 14-day quarantine rules for UK arrivals
After last weeks 6.70% gain on the FTSE 100 index what next?
The FTSE 100 gained over 6.00% last week but are markets getting ahead of themselves.
Futures indicate that European markets may open slightly up with the Nikkei 255 in Japan up over 1.00% before the close on Monday.
In China and Hong Kong, the SSE Composite and Hang Seng are trading just above Friday’s close.
China’s exports drop in May as coronavirus pandemic hits overseas demand
Hong Kong stock bulls rewarded with best run since November as recovery hopes mask political fault lines
South China Morning Post – Hong Kong stocks climbed for a sixth day, poised for their longest run in seven months, after the government signalled more easing measures to reboot the economy, while a bullish US job report further underpinned risk rally.
Friday 5th June 2020
Dow Jones opens up over 700 points
The Dow Jones opens up over 2.70% on Friday after employment rose 2.5 million in May.
The FTSE 100 jumps up 60 points to 6,453 after on the news and is looking to finish the week up over 4.00%.
BA owner considers legal action against government quarantine plan – and Ryanair vows support
4.7 million people have used lockdown to cut their debts, study reveals
FTSE 100 Index starts the day up over 1.00%
The index continues on an upward trend after Thursday’s losses with leisure/travel stocks International Consolidated Airlines Group, Easyjet and Carnival all up over 9.00% in early trading.
How is the Coronavirus affecting the UK economy
In the latest survey by the Office of National Statistics (ONS) “42% of businesses responding to the Business Impact of Coronavirus (COVID-19) Survey (BICS) had less than six months of cash reserves, while 79% had applied for the Coronavirus Job Retention Scheme (CJRS).” The survey also found that only 13% of adults isolated in the past seven days.
Read the full survey by clicking on the link.
UK consumer confidence touches new decade low as COVID hits economy – GfK
Futures indicate a positive day for global stock markets
With the Nikkei 225 up 0.75% before the close on Friday and Hong Kong and China’s exchanges also positive, it’s looking like global markets will end the week on a high.
Current futures have European and US markets opening above 1.00% on the last day of the week.
Hong Kong stocks on track for second week of gains as enthusiasm builds for coming blockbuster listings
Thursday 4th June 2020
As anticipated the FTSE 100 Index ends the day lower
In London, the FTSE 100 index was down 0.65% after three days of gains.
European markets mirrored London, and currently, the Dow Jones is flat, and the S&P 500 is trading 0.30% going into the afternoon trading session.
Quarantine rules a ‘killer blow’ for travel sector
From 8 June all passengers arriving in the UK must self-isolate for 14 days.
Terry Smith: Companies trampling on the rights of shareholders during virus pandemic
Expect a quieter day on global stock markets
Three days of gains after the release of positive data in China’s service sector and America’s jobless rate being less than anticipated Thursday is likely going to be a day of potential profit-taking in Europe and the US.
In Japan, the Nikkei 225 is up 0.36% before the close, and the Hang Seng and SSE Composite in Hong Kong and China are both static in afternoon trading.
Futures in Europe indicate markets will open down and likewise in the US later today.
UK leads fall in global trust in government COVID responses: poll
Demand for UK property set to rise as Boris Johnson promises visa shake-up to benefit Hongkongers fleeing Beijing’s security law
South China Morning Post – A potential change in UK immigration policy that could pave the way to eventual citizenship for Hongkongers who hold a British National (Overseas) passport is likely to result in higher demand for homes in London and Birmingham, analysts said.
Wednesday 3rd June 2020
FTSE 100 Index ends Wednesday up another 2.64% at 6,384
Another day and another surge in the FTSE 100 Index and European stock markets but is a pattern emerging. There have been several occasions since March 2020 when the FTSE 100 has rallied over three days and then fallen dramatically on the fourth day. Now that’s not to say it will happen tomorrow, but in the current climate stock markets are overvalued, and positive market sentiment is driving markets up! Not micro or macroeconomic factors.
In the US the Dow Jones is trading up 1.64%, and the S&P 500 is up 1.14%. The latter is trading down only 3.50% year to date and has rallied 27.00% since the low on 23rd March 2020.
Dow opens with nearly 200-point gain after private sector sheds fewer jobs than feared
Bank of England governor urges banks to step up no-deal Brexit plans
European markets to continue positive run
Futures indicate that stock markets in Europe will open up with the FTSE 100 potentially starting the day up 60 points after Tuesday’s 0.87% gain.
Germany’s Dax index traded up 3.75% on Tuesday after the Monday holiday and will start Wednesday in positive territory.
Gobal stock markets continue to defy logic
It is likely to be another positive day on global stock markets but, company and macroeconomic fundamentals tell a different story.
The world is in a global recession and pandemic, but global stock markets continue to surge on the back of any piece of positive sentiment and government intervention.
Australia’s main index finished the day up 1.83% even with the news that the economy will be in recession for the first time in 29 years.
In Japan, the Nikkei 225 index is trading up 1.29% before the close, and in China, the SSE Composite is up 0.11% in afternoon trading.
Even in Hong Kong, the Hang Seng is up 1.23% with political tension still widespread in the region.
Australian economy heads for first recession in 29 years after coronavirus caused GDP to drop 0.3 per cent last quarter
South China Morning Post – Gross domestic product fell 0.3 per cent from the final three months of 2019, the first quarterly drop since 2011, brought down by a collapse in household spending, statistics bureau data showed in Sydney on Wednesday.
China approves second listing for Shanghai-London Stock Connect amid strained Sino-British ties
South China Morning Post – China’s stock market regulators have allowed one of the nation’s biggest insurers to list its shares in London under a year-old stock exchange cooperation scheme, putting fragile Sino-British ties to the test.
Tuesday 2nd June 2020
Compromise on fisheries with EU a possibility, says UK industry chief
Coronavirus: Ministers ‘looking at ways to relax travel quarantine rule’
How is the Coronavirus affecting the UK economy
In the latest survey by the Office of National Statistics (ONS) ” 79% of businesses in the UK had applied for the Coronavirus Job Retention Scheme, while 42% of businesses had less than six months of cash reserves“. The survey also found that the number of people staying at home has decreased from 81% to 73%.
Read the full survey by clicking on the link.
Global stock markets remain positive on lockdown easing sentiment
Another positive start to the trading week with the FTSE 100 finishing up 1.48% on Monday and the Dow Jones and S&P up 036% and 0.38%.
On Tuesday morning the sentiment has continued in the Asia-Pacific region with the Nikkei 225 in Japan up 1.19% before the close.
In Hong Kong, the Hang Seng Index is up 0.70% in afternoon trading, and in China, the SSE Composite Index is up 0.22%.
George Floyd death: Donald Trump to send in army if cities fail to deal with violent protests
Hong Kong security law: China weighs risk US will go for ‘nuclear option’ and cut Beijing from the dollar payment system
South China Morning Post – A new and troubling question is suddenly looming for Beijing: will the Trump administration abuse the power of the US dollar to hurt China following Beijing’s plan to impose a new national security law in Hong Kong?
Monday 1st June 2020
Britain reopens markets and some schools as lockdown eases
After Friday’s 2.29% lose the FTSE 100 expected open above 6,100 mark
In London, futures indicate the FTSE 100 index will start the week on a positive note, as the country begins to reopen some businesses and primary schools open for pupils.
Asia-Pacific region starts the week on the front foot
Markets in Asia, have started the week positively with new stimulus measures announced and lockdown measures easied.
In Japan, the Nikkei 225 is up 0.80% before the close, but the markets in China and Hong Kong have surged after last weeks loses. The Hang Seng in Hong Kong is up 3.30%, and the main SSE Composite Index in China is up 2.00% in afternoon trading.
China’s stock investors should expect volatility, slimmed-down stimulus and targeted help, says National People’s Congress
South China Morning Post – China’s most important political event of the year told investors to expect three key things: stimulus will be put on a diet, stock volatility following China’s move to tighten its control over Hong Kong will offer buying opportunities.
World’s richest man Jeff Bezos offers Beacon to UK start-up
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