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Thursday,26 March 2020 at 17:04

UK and European markets rebounded after another day of volatile trading as U.S. jobless claims ballooned to a record high amid the fallout from the coronavirus pandemic.

U.S. stocks surged as investors shrugged off the release of record-breaking initial jobless claims.

The dollar dropped as businesses across the country shut down in an attempt to stem the spread of the coronavirus.

Oil prices fell with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns.

Gold prices jumped after a record surge in U.S. jobless claims dented the dollar and boosted expectations of further stimulus to cushion the global economic toll from the coronavirus pandemic.

In corporate news, Dixons Carphone reported a 24% fall in like-for-like sales growth in the UK in the three weeks to March 21 as it pulled guidance and placed its final dividend on review as the coronavirus pandemic hit trading.

British Land cancelled its dividend, waived £3m of rents from smaller tenants and halted work at big developments in response to the Covid-19 crisis.

Weir Group said it was scrapping its dividend and cutting costs to withstand declining demand caused by the crisis. 

Markets
At the close
FTSE 100 5,815 +2.24%
FTSE 250 15,380 +3.78%
DAX 10,000 +1.28%
At 16:55
Dow Jones 22,284 +5.11%
S&P 500 2,592 +4.73%
NASDAQ 7,671 +3.89%
Fixed Income
UK 10-YR YIELD 0.40
Exchange Rates
GBP/USD 1.216
GBP/EUR 1.101
Commodities
Gold $1,635 +1.60%
Brent $26.544 (-3.55%)
This report has been prepared for private circulation. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.
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