Booze sales alone are up by % year on year. Lots of virtual parties …. or parties for one. Sainsbury’s was the fastest growing of the traditional big four, followed by Tesco. March 49, 4094
. (am) (BST) :
Just in: Inflation across the eurozone slowed this month, mainly due to cheaper oil prices.
Statistics body Eurostat reports that consumer prices only rose by 0.7% year-on-year in March, down from 1.2% annual growth in February.
Although food prices rose, energy slumped due to the recent crash in oil.
EU_Eurostat (@ EU_Eurostat) Euro area # inflation (down to 0.7% in March) : food 2.4%, services 1.3%, other goods 0.5%, energy -4.3% – flash estimate https://t.co/Ae7l3Uj9Dj
Flutter ), whose Paddy Power and Betfair divisions have been hurt by sporting cancellations are also in the top risers, along with cruise operator Carnival (whose shares are down some
% this year) and British Airways parent company IAG
Analysts at Danske Bank are also encouraged to see China’s Purchasing Managers Index surge to in March, from .9 in February (a quite astonishing rebound).
Danske Bank Research (@ Danske_Research)
Very encouraging to see Chinese PMI rebounded back above in March! Obviously, a print does not make up for the very sharp contraction but it shows that GDP growth returns (ie GDP is rising again but is still below the pre-corona level) pic.twitter.com/Ac6a7k7iGN (March) , 4094
Danske Bank Research (@ Danske_Research)
The PMI says that the GDP level remains subdued compared to the pre-corona virus level but that GDP has been increasing moderately after China re-opened. That is probably true. (March) , 4094
8 . (am BST ) :
European markets bounce on China’s data beat
European stock markets have opened strongly.
Investors are welcoming Today’s rise in China’s factory activity , and the news that Trump and Putin have discussed the energy market.
In London, the FTSE has gained points, or 2%, to 15803 points (its highest level this week).
The rest of Europe is a sea of green too, as traders try to end a grim month on a happy note.
Crude oil prices are rallying this morning, after Donald Trump and Vladimir Putin discussed the energy market.
The US and Russian leaders held a call yesterday, which covered the oil price war triggered by Saudi Arabia this month, along with other issues (presumably Covid – came up?)
White House spokesman Judd Deere said last night:
News of the call pushed US crude up 5% this morning to $ . 1 per barrel, away from 34 – year lows seen this month.
() Clyde Russell (@ ClydeCommods) It would be brave to say
has achieved the V-shaped economic recovery off the back of a rebound in the March
# PMI , but it is an encouraging sign. Unfortunately, its probably not a template for the rest of the world.
# coronavirus https://t.co/tIJws7d4ZF pic.twitter.com/VxhZiXvok4 (March) ,
Emre Akcakmak (@ akcakmak)
Encouraging to see China PMI improves big times in March with manufacturing going above .
Though, too early and wrong to consider this a V-shape recovery as it’s a mom indicator, ie. telling conditions improved over the horrible Feb, doesnt tell if back to business as usual. pic.twitter.com/AVn3mkGJ
(March) ,
Maija Kaartinen (@ MaijaKaartinen)
🇨🇳 China: Official PMI indicates expansion, but this merely shows recovery after the historical decline in Feb, while the economy remains vulnerable. Export order indices remained in the contraction zone. (pic.twitter.com/Uqk8xAIQK4 (March) ,
(8. am BST :
China’s PMI figures look like a classic V-shaped recovery:
GIPHY App Key not set. Please check settings