As some of the worst-hit countries — including eurozone members Spain, Italy and France — take heart from slowing COVID-19 death and infection rates, they are gradually allowing businesses to reopen.
“Rather, it’s more of the same sentiment-driven action with links to reopening hope, monetary and fiscal policy support, the fear of missing out on further gains, and assumptions that things can only get better after having gotten so bad,” he said in a note to clients.In Wuhan, the central Chinese city where the coronavirus outbreak first emerged, there have been reports of new infections, while South Korea announced its biggest spike in new cases for more than a month.
Tokyo and Shanghai only dipped 0.1 percent however, while there were gains in Wellington and Bangkok. Elsewhere Tuesday, oil prices jumped after Saudi Arabia said it would slash an extra one million barrels per day from its June output.
This too shall pass soon
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Investors lose N49.3bn on profit-taking in banking stocks – Daily TrustThe domestic equities market opened the week on a negative note due to profit-taking in Guaranty Trust Bank (-4.3percent), UBN (-8.6percent) and Zenith (-2.3percent). Consequently, the All-Share Index (ASI) shed 39bps to close at 23,950.83 points. Investors lost N49.3bn as market capitalisation fell to N12.5tn while year to date loss worsened to -10.8percent. Activity level …
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