Market Report

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

* indicates required

Please select all the ways you would like to hear from Ramsey Crookall:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our email marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing.

Learn more about Mailchimp's privacy practices here.

Monday,23 March 2020 at 17:07

UK and European stocks closed lower as the coronavirus outbreak continued to weigh on global financial markets.

U.S. stocks fell sharply even after the Federal Reserve unveiled new measures to keep markets working properly. 

The dollar dropped after the U.S. Federal Reserve took unprecedented steps to backstop a range of debt in an attempt to offset the “severe disruptions” to the economy caused by the coronavirus outbreak.

Oil prices fell as governments escalated lockdowns further curbing the global demand for oil. 

Gold prices rose after the U.S. Federal Reserve mounted aggressive new steps to combat the economic impact from coronavirus outbreak, boosting investors sentiment.

In corporate news, retailer Next, budget airline easyJet and Carnival were all weaker amid concerns about the impact of coronavirus and the measures being in put in place to slow its spread.

On the upside, precious metals miner Fresnillo was the standout gainer as gold prices moved higher after the Fed ramped up monetary stimulus.

Royal Dutch Shell was also on the front foot after saying it was cutting capital expenditure, underlying operating costs and postponing the next phase of its share buyback to save $10bn in the face of the Covid-19 pandemic. 

Markets
At the close
FTSE 100 4,993 (-3.79%)
FTSE 250 13,078 (-3.79%)
DAX 8,741 (-2.10%)
At 16:50
Dow Jones 18,915 (-1.35%)
S&P 500 2,275 (-1.26%)
NASDAQ 6,771 (-1.57%)
Fixed Income
UK 10-YR YIELD 0.43
Exchange Rates
GBP/USD 1.147
GBP/EUR 1.067
Commodities
Gold $1,551 +3.67%
Brent $26.061 (-5.02%)
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.
Members of the London Stock Exchange and PIMFA | Licensed by the Isle of Man Financial Services Authority (IoMFSA) Registered Office: Ramsey Crookall and Co. Ltd., 38/42 Athol Street, Douglas, Isle of Man, IM1 1QH Copyright © 2009 - 2020 Ramsey Crookall & Co. Ltd
Building Personal Finance Futures London Stock Exchange