“The resilience of stock markets relative to the awful economic data that we’ve been seeing over the past fortnight speaks to an optimism that... as economies come out of lockdown we can expect to see improvements as we head into the second half of the year,” said Michael Hewson, chief market analyst at CMC Markets.
There were still lots of obstacles to a rapid recovery, with Federal Reserve Chairman Jerome Powell saying in an interview on Sunday that a U.S. economic recovery may stretch deep into 2021. FILE PHOTO - Women wear face masks at Frankfurt's stock exchange as markets react on the coronavirus disease , at the stock exchange in Frankfurt, Germany, March 27, 2020. REUTERS/Kai Pfaffenbach
Japan’s preliminary GDP data showed that the world’s third biggest economy contracted an annualised 3.4% in the first quarter, slipping into a recession for the first time in more than five years. In commodity markets, the flood of liquidity from central banks, combined with record-low interest rates and poor economic data from the U.S., lifted gold to a seven-year peak. The metal was last up 1.3% at $1,763 an ounce XAU=, with silver and palladium also boosted.
Europe’s biggest budget airline, Ryanair, reported a 13% rise in profit for the year to March 31 , but cut its annual passenger traffic target by a further 20% and said it had “no visibility” on customer demand once it reopens much of its network on July 1. Ryanair shares were last up 10.4%.
Source: News Formal (newsformal.com)
Hora de poner gasolina al coche
It is all about the stock market, isn't it? Screw the people.
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