Britains lockdown. European stocks follow asiasing Economic Activity around the world with basic resources leading the way. Car sales in china rise for the first time in nearly two years and a sharp uturn from the 43 drop the month prior sno the german consumer good sees demand for cleaning products jump in the First Quarter but sales of shampoos and adhesives fall. 2. 2 billion deal to sell its business in the philippines is blocked by the local regulator. Good morning pe with seen green march back to the european boards as we begin a brandnew trading week what weve got across the board is reaction to gradual reopening of some economies in europe. Although there is a little more caution than weve seen in some countries like germany, south korea and china, wuhan directly, where the reemergence from lockdown has meant a spike in interest rate. The benchmark stoxx 600 rise of 0. 40, drifting off higher ranges with countries like spain not holding onto some initial green, and france track
We are looking at a contraction for the year between 1 and 4 . Looking at where china is, reality starting to bite, trading lower right now. Pmi front and center. Chinas economy has been damaged. A lot of the world still is shutting down. The downward revision in expectations may only be just beginning. Nikkei, lower by 4 . Jitters also there in the market. For globalmism governments to cushion the blow from the coronavirus outbreak. Lets flip the page, take a look at where we are in terms of the dollar. Easing a little. Theaussie below 60 to dollar. Is,ng a look at where crude down by 1. 5 there. Traders weighing the extent of against the 2 trillion stimulus package. The oil glut meaning we are running out of space to store. Yvonne things turning south now. It was after we saw global stocks register a rare back to back again on wednesday. Asia looking mixed. Japan seeing substantial pressure now. Lets get more context with david ingalls. Things are starting to turn a little to the dow
The safe haven bid comes off. The selling in the bond market is not as fierce as the buying and the equity market, something to keep note, as the 10 year yield rises 19 basis points. Crude getting back may be half of the losses from yesterday, up by about 10 . We will see. If that can hold. Time now for globe we will see if that can hold. Time now for global exchange. Our bloomberg voices are on the ground with this mornings top stories. We begin with the markets. Stocks stabilizing globally following the deepest equity route since the financial crisis. Joining me now with more is bloombergs dani burger. s p futures hitting their upper band limit, 5 . Here in europe, we see equities gaining about 4 . Yields gaining back. But given the scale of yesterdays losses, this is no ordinary day. Is this a dead cat bounce . Volume has been a touch light. Back. Not coming yields not coming back is fiercely, as you pointed out. Overnight, it looked like u. S. Futures were heading there to lower th
Barcelona, you are out of luck. Yields moving down by 10 basis point and a softer stock market in spain. Down by 1 led lower by financials. Also watching brent crude up by 1 with the home of barkindo speaking Mohammed Barkindo. They say come join us in a cut, we need you. Jonathan lets head to spain. A moment of truth for catalonia. The president is expected to address lawmakers today. The National Police force is set to be ready to arrest him if he declares independence. Maria tadeo is in barcelona where she has been for the past few weeks. Get us up to speed. Maria two things you need to know. One is that is about to give a press conference. He will address the parliament at 6 00 p. M. , but there will be a press conference at 1 00 p. M. Nothing unusual. There is a story we put on the terminal, our very own scoop saying theres a unit of Spanish Police that will be ready to arrest him if they think it is necessary. That means if we get a declaration of independence. The whole Parliame
Of trading, lets go to the close of trading where julie hyman has more. People are awaiting centralbank action, or inaction, as the case may be this week. Not Much Movement in stocks. On an intraday basis, we had a bigger pullback earlier this morning but then stocks have been bumping along in this range. If you feel that, look under the hood, you will see there is a lot of individual stock movement. It just has not been translating into much direction on the macro level. But of course it is earnings season. Day in because earnings terms of total number of companies reporting. Here are some of the winners we have seen. Caterpillar turned around today, it had been lower, but the company is now saying the Second Quarter may have been the worst for mining operations. So they may have bottomed come in other words. Texas instruments coming out with a positive forecast for the Current Quarter saying demand for the automotive sector and pictures around the home, that coming in above estimates