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Oil majors slash 2020 spending by 20% after prices slump

Oil majors slash 2020 spending by 20% after prices slump

By Ritu, Capital Sands The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia. Cuts already announced by eight major oil companies, including Saudi Aramco and Royal Dutch Shell , […]

U.S. death toll spirals amid rush to build field hospitals, find supplies

By Administrator_India Capital Sands The U.S. government raced on Tuesday to build hundreds of makeshift hospitals near major cities as healthcare systems were pushed to capacity, and sometimes beyond, by the coronavirus pandemic. Even as millions of Americans hunkered down in their homes under strict “stay-at-home” orders, the death toll, as talled by sources, shot up by more than 850 […]

European shares inch higher but set for worst quarter since 2002

European shares inch higher but set for worst quarter since 2002

By Ritu, Capital Sands European stocks inched higher on Tuesday with investors buying into defensive sectors as they awaited further signs that the economy could weather the fallout from a near total global shutdown to curtail the spread of the coronavirus pandemic. The pan-European STOXX 600 index  was up 1.1% at 0706 GMT, with real estate stocks , utilities  and […]

Asian Stocks Rise on The Back of Better-Than-Expected Chinese PMI Figures

By Administrator_India Capital Sands Asian stock markets made modest gains as China announced a higher-than-expected Purchasing Manager’s Index data. China’s Shanghai Composite gained 0.41%, while Shenzhen Component was up 1.26% after data showed the country’s March manufacturing PMI came in at 52.0, compared with the record low of 35.7 last month. Analysts had expected a PMI of 45, according to the data compiled. […]

Oil plunges to 2002 lows, shares sink again

Oil plunges to 2002 lows, shares sink again

By Administrator_India Capital Sands Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months. There were some bright spots, with Australian equities posting a standout jump as the government launched a super-sized support programme, but that was about it. Japan’s Nikkei had led the rest of […]

Europe Slips After Recent Gains as Virus Cases Mount

Europe Slips After Recent Gains as Virus Cases Mount

By Administrator_India Capital Sands European stock markets traded lower Friday, with investors taking stock after recent hefty gains and as the coronavirus pandemic continues to reap damage throughout the region.  At 04:10 ET (0510 GMT), the U.K.’s FTSE index was trading 3.9% lower, France’s CAC 40 was down 3.0%, while the DAX fell 1.9%. The broader based Stoxx 600 Europe index dropped 2.5%.   The benchmark Stoxx 600 […]

End-of-week Gains for Asian Stocks

By Administrator_India Capital Sands Asian stock markets were up on the last trading day of the week despite drops in Chinese industrial profits and a huge rise in U.S. jobless claims. China’s National Bureau of Statistics reported that industrial profits for January and February dropped 38.3% year on year, compared to a 6.3% drop in December 2019. The steepest drop […]

Euro Benefits From Talk of 'Corona' Bonds

Euro Benefits From Talk of ‘Corona’ Bonds

By Administrator_India Capital Sands The euro has posted gains Thursday amid talk of a new debt instrument to combat the coronavirus outbreak as the death toll rises and the economic damage becomes more stark. At 4:10 ET (0810 GMT), EUR/USD traded at 1.0938, up 0.5%. Elsewhere, the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at […]

Stocks run out of steam on U.S. job jitters, yen gains

By Administrator_India Capital Sands A two-day equities rally lost momentum on Thursday, and investors sold riskier currencies, as stimulus negotiations dragged on in Washington and investors fretted over a likely spike in U.S. jobless claims. MSCI’s broadest index of Asia-Pacific shares outside Japan wobbled either side of flat. Japan’s Nikkei slumped 4% and U.S. stock futures fell 1%. The dollar climbed around […]

Stocks - Europe Pushes Higher on Stimulus Agreement

Stocks – Europe Pushes Higher on Stimulus Agreement

By Administrator_India Capital Sands European stock markets pushed firmly higher Wednesday, with investors breathing a sign of relief that U.S. policymakers have managed to come together to deliver a massive rescue package to bolster the country’s beleaguered economy. At 03:50 ET (0850 GMT), the U.K.’s FTSE index was trading 4.2% higher, France’s CAC 40 was up 3.9%, while the DAX rose 3.0%.The broader based Stoxx 600 Europe index […]