The dollar extended gains as investors questioned the effectiveness of a rapidly strengthening set of economic and financial support measures by global policy makers. Most stocks slid in volatile trading.
The euro and U.S. stock futures initially advanced after the European Central Bank announced a huge boost in its efforts to stabilize the economy and capital markets. The moves reversed as optimism faded, with investors increasingly concluding nothing can avert a global recession. The yen, so often a haven amid market stress, slumped, in a sign of the extraordinary demand for the greenback, which was near its strongest in more than three years. Asian stocks were mostly lower and European futures slumped. Yields rose.
US After Hours GES +25.7%, STLD +6.5%, FIVE +4.5% up on earnings/guidance; EL -9% and MAR -4.7% fall on withdrawn guidance, TLRD -10.4%, ONEM-2.3%
Nikkei -1.04% Hang Seng -2.25% CSI -0.84% Shanghai -0.57% Shenzen +0.62%
Eur$ 1.0935 CNH 7.0989 CNY 7.0704 JPY 108.53 GBP 1.1558 CHF 0.9655 RUB 79.79 TRY 6.5037 WTI$ 23.13 +1.2%
S&P -1,52% NAsdaq -1.09% EuroStoxx +0.80% (rally from -2% on the last 20') FTSE -0.25% Dax +0.58% SMI +2.15%
Macro :
- ECB’s Lagarde Says No Limits To Commitment to Euro
- World Could Need $26 Trillion Stimulus, Top Global Fund Says
- Austria Bans Short-Selling of Stocks for One Month
- Germany Considers Expanding Emergency Loan Program: Handelsblatt
- Senate Passes Virus Relief Bill, Plans for Even Bigger Stimulus
- Ackman Aggressively Buying Stocks Including Hilton: CNBC
- Portugal Will Declare State of Emergency to Contain Outbreak
- U.S. May Take Equity Positions as Part of Aid, Kudlow Says
- U.S. Investor Bull-Bear Spread -16.8: AAII
Keep an eye on :
- AC FP : Jefferies Confident on EU Hotels Even in ‘Extreme Scenario’
- AIR FP : Emirates Mulls Grounding Its A380 Fleet as Virus Spreads
- AF FP : France Would Consult Dutch on Any Move to Back Air France-KLM
- APAM NA : Aperam Temporarily Halts Production at Some European Lines
- BATS LN : BAT Studies Stimulants Like Cannabis for Nicotine-Free Products
- BNP FP : SocGen, BNP Win Capital Break as France Lets Banks Tap Buffers
- IAG LN : Intl. Airlines Group CEO Walsh Offers to Cut Pay by 20%: Sky
- BUCN SW : Bucher Reports Temporary Shut-Down of French Production Sites
- BWO NO : BW Offshore Decides to Defer About $60M of Planned Capex
- CNP FP : CNP Assurances Says Solvency Ratio High, Affirms Div EU0.94/Shr
- COLOB DC : Coloplast Cuts Full Year Organic Revenue at Constant FX Forecast
- CON GY : Continental to Close Some of Its Plants: Wirtschaftswoche
- CSGN SW : Credit Suisse Says Pretax Profit in Jan., Feb. Exceeds 1Q 2019
- DAI GY : Mercedes SUV Plant Likely to Be Shut Down Due to Parts Shortage
- DFDS DC : DFDS Suspends Dividend, 2020 Outlook
- EZJ LN : Easyjet Boss Warns of Bankrupt Airlines Over Coronavirus Crisis
- ENI IM : Eni Cancels Share Buyback With Oil Slump Forcing Spending Review
- EQNR NO : Equinor Defers Bay Du Nord Oil Project Off Canada: Upstream
- EQNR NO : Equinor’s Management Decides to Give Up Their Bonus for 2020: DN
- ERF FP : Eurofins Offering Coronavirus Testing in France, Spain, Brazil
- FFP FP : FFP Says It Can Increase Stake in PSA Group by 2%
- FCA IM : Fiat Chrysler to halt North American production for two weeks due to coronavirus
- FGP LN : Tchenguiz Says No Longer Holds ‘Material Interest’ in FirstGroup
- FPE GY : Fuchs Petrolub First Quarter Ebit EU321 Mln
- HEI GY : HeidelbergCement Skips 2020 Outlook Over Virus Uncertainty
- IFX GY : Infineon's Cypress M&A Needs to Offset Its Autos Weakness: React
- INS GY : Instone Real Estate FY Adjusted Ebit Beats Highest Est.
- JYSK DC : Jyske Bank Suspends Guidance for 2020, Postpones AGM
- KESKOB FH : Kesko Issues Profit Warning, Pulls Previous Sales Guidance-
- KRN GY : Krones Sees Full Year Pretax Profit Margin +3.2% To +3.7%
- SKB GY : Koenig & Bauer Full Year Ebit Misses Lowest Estimate
- KNIN SW : Kuehne+Nagel Faces Serious Delays in Europe From Closed Borders
- KVAER NO : Kvaerner Asks Shareholders to Scrap Dividend
- LHA GY : Lufthansa in Survival Mode as Repatriation, Supplies in Focus
- METN SW : Metall Zug Full Year Ebit CHF38.8 Mln, -57% Y/y
- MTRO LN : Steven Cohen Cuts Stake in Metro Bank Below 3%
- ML FP : Michelin Closes European Factories, Forecast No Longer Relevant
- TYRES FH : Nokian Covid-19 Temporary Layoffs Prove Timely Response: React
- NOEJ GY : Norma Group to Cut Production in EMEA, Americas From Next Week
- NAS NO : Norwegian CEO Says Norway Government Meeting Was ‘Constructive’
- OCDO LN : Ocado Shuts Down Website; Fully Booked for Four Days
- OSR GY : Osram Withdraws 2020 Guidance On Covid-19
- PNDORA DC : Pandora Closes Stores in U.S. for Two Weeks
- PAT GY : Patrizia Maintains 2020 Oper Income EU120 Mln To EU140 Mln
- UG FP : FFP Says It Can Increase Stake in PSA Group by 2%
- PUB FP : Publicis Says Board Has Decided to Maintain 2.30 Euros Div/Shr
- QIA Gy : Qiagen Launches Covid-19 Test Kit in Europe After CE Marking
- ROG SW : Roche to Study Actemra/Roactemra for Covid-19 Pneumonia Patients
- SFQ GY : Saf-Holland Skips 2019 Div., Plans Investments of 3% of Sales
- SIM DC : SimCorp Withdraws 2020 Guidance, Plans to Pay Dividends
- GLE FP : SocGen, BNP Win Capital Break as France Lets Banks Tap Buffers
- SON PL : Sonae 2019 Revenue Rises 9% to EU6.4b, Raises Dividend by 5% (1)
- TEL NO : Telenor Names Bachke New CFO; Rostrup to Head Asia Operations
- TIT IM : Italy Watchdog Asks Phone Carriers to Improve Internet Bandwidth
- TLG GY : TLG Immobilien Prelim Full Year FFO I Per Share EU1.37
- ROSE SW : Zur Rose Full Year Ebitda Loss CHF13.8 Mln
- UHR SW : Rolex Shuts Plants as Watchmakers Prepare for Worst Year Ever
- URW NA : Unibail-Rodamco-Westfield Has EU10.2b Cash, Undrawn Credit Lines
- VOS GY : Vossloh 2020 Sales Forecast Midpoint Meets Estimates