The worst stock rout since the global financial crisis showed signs of at least a pause on Monday, prompted by optimism that central banks will again save the day.
U.S. futures saw modest gains after the S&P 500 Index closed out its worst week since 2008. Monday began with further declines in stocks and gains in bonds, before the Bank of Japan joined the Federal Reserve in issuing a rare statement assuring that “appropriate” actions will be taken. In Australia, an interest-rate cut by the central bank is now seen as a done deal Tuesday. U.S., Australian and New Zealand 10-year bond yields hit fresh record lows. The yen slid.
Nikkei +0.95% Hnag Seng +0.85% CSI +3.68% Shanghai +3.41% Shenzen +4.20%
Eur$ 1.1040 CNH 6.9725 CNY 6.9712 JPY 108.23 GBP 1.2840 CHF 0.9650 RUB 66.7277 TRY 6.2361 WTI$ 46.07 +2.93%
S&P +0.41% EuroStoxx 1.42% Dax +1.51% FTSE +1.81% SMI
Macro :
- The Good, the Bad and Ugly of Virus Response: Mohamed El-Erian
- A Border Crisis at EU’s Doors as Migrants Travel From Turkey
- Fed Ready to Cut Rates Despite Doubt They Can Fix Virus Fallout
- Fast Up, Faster Down: Four Stock Charts Show How Bears Took Over
- China Factory Activity Weakest on Record Due to Coronavirus
- Panic in Volatility Markets Is Getting Even Worse Than Stocks
- Valuation Charts All Over Map and That’s a Problem for Stocks
- A Morgan Stanley Manager Who Sold Before Rout Says He’s Buying
Keep an eye on :
- ACPH BB : Acacia Pharma Names Scott Byrd as Chairman, Gary Gemignani CFO
- AIR FP : Boeing Pledges Fuller Testing on Starliner Before Future Flights
- AF FP : Air France-KLM Said to Move to Cost-Cutting Crisis Mode on Virus
- BMW GY : BMW Turns to Web to Splash Out New Model After Geneva Show Axed
- BOBNN SW : Bobst FY EBIT Beats Highest Estimate; Sees Coronavirus Impact
- BRBY LN : Burberry Is Said to Weigh Boosting CEO Gobbetti’s Pay Package
- CABK SM : Billions at Stake for Spanish Banks in EU Court Mortgage Ruling
- DBK GY : Deutsche Bank Internal Controls Face U.K. Regulator Scrutiny: FT
- DBV FP : DBV Says Underwriters Partially Exercise Overallocation Option
- DTE GY : Deutsche Telekom Bets on Disney Content in Fight With Vodafone
- BAER SW : Julius Baer’s Moody’s Downgrade Worsens Latin America Hangover
- EMMN SW : Emmi Sees 2020 Ebit CHF255 Mln To CHF265 Mln
- ERICB SS : Ericsson Urged by Its Top Investor to Consider U.S. Investment
- EL FP : EssilorLuxottica Says Hilary Halper Steps Down as Co-CFO
- EXO IM : Covea, PartnerRe Deal Seen Imminent: Les Echos
- FUM1V FH : Nokia Names Fortum’s Pekka Lundmark New CEO
- HSBA LN : Billionaire Hohn’s Foundation Takes Aim at Banks Over Coal Loans
- ISR GY : Isra Vision First Quarter Ebitda EU12.2 Mln
- KVW NA : Reggeborgh Declares Offer for VolkerWessels Unconditional
- MMB FP : Amber Capital Concert Stake in Lagardere Rises To 14%: AMF
- LHN SW : LafargeHolcim Is Open to Bigger Acquisitions, CEO Tells FuW
- LHA GY : Lufthansa Cuts Intra-Europe Capacity to Ease Pain: React
- MAN GY : Traton to Implement Squeeze-Out of Minority Holders of Man SE
- MOR GY : Morphosys Gets FDA Priority Review for Tafasitamab, Lenalidomide
- MUV2 GY : Non-Life Insurers Better Protected Amid Virus Correction: RBC
- NMC LN : Abu Dhabi Wealth Fund Said to Weigh Investment in Troubled NMC
- NMC LN : FT : NMC Health hires Moelis to advise on debt restructuring - https://on.ft.com/389V02R
- NOKIA FH : Nokia Names Fortum’s Pekka Lundmark New CEO
- NOKIA FH : Huawei Makes End-Run Around U.S. Ban by Turning to Its Own Chips
- OXY US : Wyoming, Occidental Land Deal Could Reach $3 Billion, FT Says
- RHM GY : Rheinmetall Full Year Ebit Beats Highest Estimate
- SESG FP : FCC Chief Sees No Case for ‘Significant’ Increase for Intelsat
- SESG FP : SES to Mull Separation of Networks Business, Cuts 2020 Forecasts
- SIE GY : Mordashov’s Power Machines to Exit JV With Siemens: Kommersant
- SNBN SW : SNB Full Year Profit CHF48.85 Bln
- TOM2 NA : Initiates today previously announced buyback of up to €50M
- 8TRA GY : Traton to Implement Squeeze-Out of Minority Holders of Man SE
- VOW3 GY : VW Defies Virus Gloom With Robust Outlook for 2020 Car Sales (2)
- VOW3 GY : Traton to Implement Squeeze-Out of Minority Holders of Man SE
- VOW3 GY : German Auto Industry Bracing for Slump as Demand Dips, Ifo Says
- VOW3 GY : VW Abandons Development of New Natural Gas Models: Handelsblatt