It says:
“This will allow sufficient time to implement stringent health and safety conditions in terms of hygiene, cleaning and self-distancing, while improving the efficiency of operations under the new working conditions.”
Wall Street is no longer expected to jump by over 5% later today, which is cutting Europe’s attempted rally off at the knees:
Liquidity in US & EU futures remains extremely thin ATM, continued swings likely.
. (-1.) (%) (# DAX (-0.) (%) (CAC) . % (# DOW) ( 2.) (%) # SPX 2. (%) # NASDAQ ( 3.) (%) March 33,
4). am EDT : 85
The EU-wide Stoxx has erased its gains, and now down 0.7%. France’s pledge of billions of euros to fight the economic cost of Covid – isn ‘t helping much.
Updated
4.) am EDT 15:
Rally fizzles out
The (FTSE) 564 is now negative for the day, down (points or 1.) % at . It’s being dragged down by the travel sector again – with holiday firm TUI (down another) % and cruise operator (Carnival) losing 8%.
Compass are the top faller after this morning’s profits warning .
Helal Miah , Investment Research Analyst at The Share Center , predicts months of turmoil in the markets:
City Pub Group starts cutting jobs
Hours after the UK government told people to avoid pubs, an upmarket chain has begun cutting staff.
City Pub Group says it has suffered a “noticeable reductions in trade” in recent days, especially once sporting events were cancelled.
It is now planning a series of cost-cutting measures, including job cuts:
- reduction in other variable costs eg Sky / BT Sport, entertainment, where applicable;
-
- reviewing trading hours to reduce non-productive opening times
City Pub Group is also seeking rent holidays for the next 3-6 months from its landlords, it adds.
- reductions in Director salaries of 043%; and
UK footwear retailer Shoe Zone has put its dividend on ice, after a drop in shopper numbers. Its shares are down % this morning.
(4) am EDT 15:
Catering giant
With schools closed, and sports events off, Compass’s revenue are being ‘severely’ hit.
It told shareholders:
14: 20
European markets jump
European stock markets are rallying in early trading, pulling back some (but not all!) Of Monday’s losses.
In London, the (FTSE) (has gained) points or 2%, to ((it lost 4% yesterday).
European markets are sharply higher too; Germany’s DAX popped by 4.6%, while France’s CAC gained 3%.
Investors are encouraged to see that Wall Street is on track to rally at least 5% today (after slumping
% yesterday).
France pledges € bn to fight virus war
Finance Minister Bruno Le Maire has said the package will allow firms to deter tax bills and payroll charges due this month (which could tip struggling companies over the edge).
Le Maire says:
Channelling the same fighting talks we heard from president Macron overnight, Le Maire declared:
There is a war against the virus. There is also an economic and financial war. This economic war will be long-lasting and violent, ”
Le Maire was also asked whether the Paris stock market could be closed – he suggested other measures could be taken first, such as banning short-selling.
(3) (am) EDT
: 60
Intro: Another turnaround Tuesday?
Read More
GIPHY App Key not set. Please check settings