In singapore those numbers dropped 6 to said to further down in more ways than one australia lost a whopping 7 percent now that this goes on and it only continues downhill while asian exchanges down so far when when were hearing that the chinese are returning to work and the new cases of infection are subsiding. Thats an excellent question ben but it really still is very much attached or linked to the corona virus and theres even talk that it needs a recession globally that we can cheer about the positive numbers that are coming out of china and you know that the fact is they still have some 80000 people still inspected to give the all clear whats even more worrying now more than whats happening in china are the numbers that are steadily and fast rising spreading rapidly across other countries outside of china now government banks you know clearly not very prepared even with the stimulus measures that are being rolled out its the 1st time nobody expects a virus to hit the markets and sure the recovery in Global Supply chains may look like good news is by this slow steady trickle coming back to work and you know that still the bucket of paint that beings thats means smeared all across the trading floors it shows whats the view from europe a Financial Markets right now really reflective of the economic costs that this virus will have. Well i think thats the 1000000. 00 question and its particularly difficult to tell because this is 1st and foremost a Public Health and for investors that makes it extremely difficult to form any sort of Investment Strategy around this because nobody knows how much further this virus is going to spread the measures that governments are going to have to take to contain it the impact this is going to have on. The economy and Financial Markets the things weve already seen have been really. A couple of months ago 17000000 people under quarantine and italy right now Airlines Cutting half their flights this 30 percent drop in Oil Prices Today these are really just instore moments but i think investors really have no choice right now but to really prepare for a global recession so far as preparations go what about the euros or will it get a massive stimulus package from the e. C. B. As the french finance minister is to. The e. C. B. Its meeting on thursday and it is pretty much expected to cut Interest Rates further into negative territory that can really only do so much for for the economy though negative traits are sort of losing their their fire power and if you think of what the problems are right now in the economy people under quarantine businesses not being able to produce lower Interest Rates might not really do that much to offset the Economic Impact but there is also a lot of chatter today including from france and japan about of course needed fiscal action but we havent really seen. The major countries coming together for that yet what about china whats the stimulus going to be for beijing. Well what is that the people you see would not issue any. Stimulus to chinas Property Market and thats one very important market to the. But that analysts also do believe china at the end of it all will ultimately the issue is strong stimulus package to come to 2 things one to come to its legitimacy if it is threatened if they fail to contain the virus and to their reputation chinas reputation of being competent comes at risk if they dont manage to contain the virus and the government doesnt support the economy a lot of that comes into risk and so i think ultimately the Chinese Government will have no choice but to roll something out to support its people and its economy thats already ailing draping in singapore thank you and chelsea the lady in frankfurt thank you very much. To the other reason markets are a mess a price war is breaking out among the Major Oil Producers the oil cartel opec has failed to get nonmember russia on board in cutting production to counteract the slump in demand caused by the grow virus now saudi arabia is slashing prices and the cost of crude is in freefall. This smiles betrayed and overriding disappointment last weeks meeting between opec representatives and russia was supposed to end with a deal to cut Oil Production in response to plummeting demand. Mysterious to you. The answer from frustrated opec leaders was no the russians saying they would not be lowering their output. Over the weekend saudi frustration boiled over with riyadh announcing its biggest oil price cut for 2 decades far from slashing production the saudis are now ramping up output from their fields to make up for lost revenues from already tumbling prices. But flooding the market with cheap crude has had the effect of driving down prices globally in early asian trading on monday they hit him in a 16 year low. And the 1st equity markets to begin the week posted extraordinary losses australias finance minister tried to reassure australians the economy was still strong after stocks in sydney tumbled was there was the same story on markets across asia what started with an attempt by Oil Producers to respond to the economic shock of coronavirus has ended with oil in equity in freefall because of it 19 outbreak has just registered another symptom. Analyst Spencer Welch joins us from i. H. S. Market in london. First of all its usually the case that investors welcome this sort of these sort of price movements on oil markets as far as consumers and businesses go in this case its a very different picture today. Yes. Thank you i mean on the on the program it depends what sort of investors youre talking about so there are there are short term trade is and then there are longer term investors who companies are reliant on for making Business Decisions and making investors now potentially traders can benefit from the the short term turmoil in oil markets that were seeing but in terms of in terms of businesses wanting capital and needing investments and thinking about projects sanctions then the kind of turmoil that we seeing used is the worst thing that i need those 2 sort of longer term investors need stability im so they have assurance of where they are placing their money so they basically worry that opec and russia are not going to work this out any time soon yes yes absolutely theyve got no idea whats going to happen as to whats going to happen to oil prices. And and british is money is more than that snow there were problems in the in in oil markets. Even before it happened but youve got to grow the virus hitting demand so all the demands this quarter is about 4000000. 00 Barrels Per Day lower than the 1st quarter and 2019 thats a 4 percent drop which is huge and then and then even before that weve got Climate Change and Energy Transition creating a a fee are amongst investors thinking about putting their money into it into the oil and hydrocarbon investments to how much lower do you think oil prices could go. Its they could go lower so at the moment brant futures are trading at around about 36. 00 per barrel last thursday they were trading at 50 the start of this year they were trading at 65. 00 so its been a fairly rapid drop yes take they could go lower but its really not about how low they go its about how long the prices stay where they are now below 40. 00 per barrel because its the length of time the has the the much more significant negative impact on Oil Producing countries who rely on that money for revenue that saudi arabia and and russia and most of the opec countries. So its the length of time that the oil price stays down is more important spencer was thank you very much for joining us from london there from my h. S. Market thank you in other coronavirus related news crew to export to russia has seen the ruble slide 9 percent against the u. S. Dollar its at its lowest value since early 2016 the boss of korean air says the carry a may not survive the outbreak travel restrictions have cut nearly 80 percent of its International Capacity figures show german exports to china fell 6 and a half percent in january compared with a year ago the viruses led to a dramatic drop in chinese imports in general and apple sold fewer than half a 1000000 i phones in china last month at 61 percent down on very 2019. In indias struggling Lender Yes Bank have jumped more than 30 percent off the taking on friday on fears it will collapse last week the reserve bank of india took control of the company and imposed cash withdrawal limits now says it intends to invest in a 49 percent stake in yes bank as part of a rescue package and the deposit has need not worry about this a. Business of it. Earth home to millions of species a home worth saving. Googling dias tell stories of creative people and innovative projects around the world ideas that protect the climate boost Clean Energy Solutions and reforestation. Using interactive content to inspire people to take action global audience the series of global 3000 on t. W. And online. Theyre on a mission. To save the bars comics from started in 1939 and since then theyve created a vast empire of superheroes who also have human weaknesses. Some of the creators have had their share of clashes the moving story of a comic giant marvel the stores march to the big. You may write me down in history but you know im bitter twisted. You may try me in the very dirt but still might. Cut the demand to see my broken loud. Shoulders for. Me so. Theres the finish of the. Day theres a. Little. From a past. Month. To. The soon to. Plane. This is due to the news live from berlin to life under lockdown in northern italy 16000000 people are now not allowed to leave or enter along party and 14 other provinces without good reason the government helps them president of measures to help stop the spread of the koran. Also coming up the daughters of these women in mexico were all killed it
comparemela.com © 2020. All Rights Reserved.