Mondays losses on the dow eclipse the first day of the wall street crash in the great depression, as the ceo of nasdaq says it is critically important to keep markets open. Macron callsuel for unity in the battle against the coronavirus. The e. U. Closes its borders, as im a trump admits the u. S. Could enter a recession. Unknown, volkswagen says the economic fallout from the pandemic is impossible to predict, as car plants across europe are shut down. Anna good morning everybody. A grizzly monday on wall street following a 100 basis point cut from the fed after an emergency meeting, the dow fell almost 13 , the biggest plunge since 1987. Oil hit its lowest level in over four years. President trump says the coronavirus may cause economic disruption against the summer and it could send the u. S. Economy into recession. Pointing, u. S. Futures up and european features also pointing to gains. The s p has fallen or risen by 4 last six days, an incredible record of volatility. And, lets loo
Anna a warm welcome to countdown. I am anna edwards. Mental i am manus cranny. Weve got breaking news. Manus weve got manus cranny. Caroline, give us the numbers. Caroline net income. Billionoming in at 16. 7 cronin. This is compared to 17. 9 billion. We got net income coming below analyst estimates. The reason . Basic impairment charges. Provision overall. They are having to reduce the guided Capital Expenditure level 260. 5 billion. They are trying to ream back their spending. Their Financial Results continue to be affected by low liquid prices. Clearly the pain that is being exerted on oil majors. The fact that bp managed to eat estimates. We are seeing the pain coming from below oil prices feeding into the expectations that futures of these companies. This is a company that is exposed to the downstream. The refining is at a record high. Dividendded to pay a of . 22 for dollar. That is in line with estimates overall. 3 billion, less than previous years. Raining back their Capital Ex
Equity markets ahead of that move. Lets look at one currencies. Dollar coming off of its high. We are basically flat. More feeling that the rate hike will be delayed. Putting pressure on the dollar downward. The global gauge of Exchange Rate volatility. Headed for its biggest monthly decline since february. Is starting desk volatility in the fx market is starting to dwindle. Euro on the downside. A little bit higher against the dollar but we are remaining at one dollar 1050. A glut in the oil market. 50 now. Ll below lets have a look. We have an update on barclays. We will see if weve got the stoxx there. 25 . Ys down about he was three decades at jpmorgan. He was passed over to take over jamie dimons job. Jamie dimon is still there. He made over to a hedge fund instead. December 1 he will take the helm at barclays. Hurdle for final this particular appointment. Up by 20 . Statoil up. You saw what oil was doing today. The pain from loyal from Lower Oil Prices continues. Heineken up 3 .
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