Oil fell to below $57 a barrel on Tuesday, pressured by concerns over the impact of the coronavirus outbreak in China on oil demand and a lack of any further action by OPEC and its allies to support the market.
World stocks markets were knocked off record highs on Tuesday as two of the world’s mega companies reported damage from the coronavirus outbreak.
(Bloomberg) — Apple Inc.’s shares fell 4.1% in pre-market trading after the company said the fallout from the coronavirus will cause it to miss its sales targets this quarter, sending shockwaves across tech stocks globally.Shares of Apple’s European suppliers fell in early trading, echoing an earlier decline in their Asian counterparts. Europe’s benchmark Stoxx Tech Index fell as much as 1.6% on Tuesday, with Dialog Semiconductor Plc down 6%, AMS AG dropping 5.1% and STMicroelectronics NV falling 4.8%. Equipment makers like ASML Holding NV were also affected by the broader selloff. The shares fell as much as 2.9% in Amsterdam.Mirabaud’s …read more […]
(Bloomberg) — Apple slumped along with European stocks and U.S. futures after the company said the virus would hurt results. Japan said it expects to remove all passengers from the quarantined cruise ship by Friday and Singapore set aside millions to counter the outbreak.China reported the lowest number of new cases since announcing a change in its method of detection last week. A top expert in China said the outbreak could peak in parts of the country this month, but the World Health Organization has said it’s too early to say if infections are truly declining.So far, 73,332 people have …read more […]
Alstom shares fell on Tuesday after the French firm agreed to buy the rail division of Canada’s Bombardier for up to 6.2 billion euros ($6.7 billion), in a deal likely to be scrutinized by regulators and unions.
French Finance Minister Bruno Le Maire warned Renault on Tuesday against shutting factories in France and cutting jobs there after the carmaker announced “no taboos” cost cuts last week.
Holiday Inn-owner InterContinental Hotels Group reported on Tuesday a slight dip in annual room revenue, hurt by a fall in bookings in Hong Kong due to protests, and flagged short-term hit from the virus outbreak in China.
(Bloomberg) — Tech stock futures fell as traders worked to price in the impact of a revenue shortfall at a company responsible for more than a tenth of the S&P 500’s gain over the last year.While Apple Inc. described the impact of the coronavirus on its sales as “temporary,” slips among big tech companies sit uneasily with investors who have watched many stocks soar 50% or more over the past 12 months. The iPhone maker has a 12% weighting in the Nasdaq 100 Index, which closed last week at 29.4 times annual earnings, the highest in a decade.“This will be …read more […]
(Bloomberg) — Tech stock futures fell as traders worked to price in the impact of a revenue shortfall at a company responsible for more than a tenth of the S&P 500’s gain over the last year.While Apple Inc. described the impact of the coronavirus on its sales as “temporary,” slips among big tech companies sit uneasily with investors who have watched many stocks soar 50% or more over the past 12 months. The iPhone maker has a 12% weighting in the Nasdaq 100 Index, which closed last week at 29.4 times annual earnings, the highest in a decade.“This will be …read more […]
Banco BTG Pactual SA founder Andre Esteves will be the marquee speaker at a wide-ranging event on Tuesday sponsored by the Brazilian investment bank, marking a return to the limelight for one of the country’s best-known bankers.
China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States.
HSBC Holdings PLC said on Tuesday it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years.
Oil prices fell by more than 1% on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand.
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