UK and European stocks opened lower ahead of purchasing
manager’s index (PMI) data for the euro zone, which will give an indication of
activity in the region’s manufacturing and services industry in May.
Stocks in Asia Pacific
were little changed as investors continue to monitor the
reopening of economies amid the coronavirus pandemic.
Oil prices rose
to their highest since March, as a drawdown of U.S. crude inventories and
output cuts by major producers helped ease concerns about a supply glut.
pressured by hopes of a swift recovery from the coronavirus-driven recession.
In corporate news, pub and hotel operator Whitbread said it was raising £1bn in a
rights issue to bolster its balance sheet against the impact of the coronavirus
pandemic as it warned of a potential loss in 2021.
said it would begin to restart flying on 15 June with extra measures to reduce
the risk of infection from Covid-19. The airline announced that it would
restart a "small number" of routes where there is enough customer
that it is collaborating with a number of countries and organisations to make
the University of Oxford's Covid-19 vaccine “widely accessible”, having
concluded the first agreements for at least 400 million doses, and secured
total manufacturing capacity for one billion doses so far, with first
deliveries set to start in September.
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.