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Top news and what to watch in the markets on Monday, April 27, 2020. …read more […]

Georgia Gov. Brian Kemp’s decision to open some nonessential businesses this week was embraced by some while drawing protests from others. WSJ’s Cameron McWhirter reports from on the ground near Atlanta as business owners weigh saving their businesses and safety concerns. Photo: Ron Harris/AP …read more […]

Apr.27 — Prime Minister Boris Johnson, in his first public statement since returning to work after his hospitalization for Covid-19, urged the U.K. not to let up on the social distancing measures that he said are bringing the coronavirus under control. Lifting the lockdown now would risk a “second spike” of infections that would do even more damage, he said outside 10 Downing Street. …read more […]

(Bloomberg) — Deutsche Bank AG became the latest European lender to try and put a price on the pain ahead because of the coronavirus, setting aside about 500 million euros ($542 million) to cover souring loans after a better-than-expected first quarter performance.Provisions for soured credit were probably the highest in six years and the lender scrapped its minimum target for capital buffers, the company said late Sunday. At the same time, revenue and net income beat analyst estimates during the three-month period, for a large part unaffected by the outbreak.Chief Executive Officer Christian Sewing has been trying to reassure stakeholders …read more […]

Manward Press Founder Andy Snyder takes a look at the current mess in the oil market and the valuable lesson it teaches us when forming a strong diversification strategy.

Anyone who lost a bunch of money over the last eight weeks… pay attention. We’ve got some valuable advice.We started in the money business right out of college. We remember getting our diploma one day and grabbing a fresh stack of books seemingly the next, studying for our licensing exams. We aced them. They weren’t hard.
We were quizzed on the stuff we’d been reading about for years – the prize-winning theories… the …read more […]

Shares in Air France-KLM and Lufthansa led European stock market gains on Monday on hopes that government bailouts would see them through the coronavirus crisis. Lufthansa was up 7% in Frankfurt after a German minister said it would need to be supported, while Air France-KLM was 3.5% higher at 0829 GMT as investors digested a 7 billion euro ($7.6 billion) French state loan package announced late on Friday. Lufthansa, which warned last week it had cash to survive just weeks unaided amid a global air travel shutdown, is in talks over a state aid package worth …read more […]

Apr.27 — Bayer AG raised the specter of “considerable liquidity challenges” as it engages in high-stakes negotiations in the U.S. over claims that the company’s Roundup weedkiller caused cancer. Chief Executive Officer Werner Baumann discusses the challenges facing the drugmaker, and comments on the outlook for trials of its chloroquine Malaria drug as a treatment for Covid-19 patients, in an interview on “Bloomberg Markets: European Open.” …read more […]

Apr.27 — Global central banks remain under pressure to do more to support their economies through the coronavirus recession even after driving interest rates to record lows and pledging to spend trillions of dollars on asset purchases. The U.S. Federal Reserve and European Central Bank both meet this week, following the Bank of Japan which ramped up its stimulus measures on Monday. Arend Kapteyn, global head of economics and strategy research at UBS, comments on the challenge facing policy makers in an interview on “Bloomberg Markets: European Open.” …read more […]

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(Bloomberg) — Government bailouts for the European airline industry are taking shape after France and the Netherlands pledged as much as 11 billion euros ($11.9 billion) to save Air France-KLM, and German rival Deutsche Lufthansa AG heads into a crucial week to work out a similar-sized rescue.The lifelines to the region’s two biggest carriers by passenger traffic would come after each warned of impending cash crunches and their inability to survive the effects of the coronavirus pandemic without state help. They join a global chorus of distressed airlines that have grounded fleets, furloughed staff and decried the biggest crisis ever …read more […]

Norwegian Air’s proposed financial rescue plan could leave current shareholders with a combined ownership stake of just 5.2%, details of its proposed debt-to-equity swap showed on Monday. If approved by bondholders, leasing companies and shareholders, the plan could help Norwegian survive the coronavirus outbreak, which has grounded 95% of its fleet, with just 7 aircraft left in operation. The plan requires backing from bondholders in each one of four separate votes planned for April 30, as well as from leasing firms, and from shareholders in an extraordinary general meeting scheduled for May 4. …read more […]

(Bloomberg) — U.S. stock index futures gained for a second day after the Bank of Japan expanded stimulus and investors looked out for further signs of progress in the global fight against the coronavirus.Contracts on the S&P 500 rose 1% as of 6:42 a.m. in London, while futures climbed 1.2% on the Nasdaq 100 Index and 1.1% on the Dow Jones Industrial Average. The BOJ scrapped a limitation on buying government bonds and ramped up its purchases of corporate debt, joining global counterparts in their unprecedented expansion of stimulus. The MSCI Asia Pacific Index gained 2%.“The BOJ announcement of unlimited …read more […]

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