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FTSE 100 marks worst quarter since 1987 amid coronavirus turmoil

FTSE 100 marks worst quarter since 1987 amid coronavirus turmoil

Business
The coronavirus pandemic has resulted in the FTSE 100 marking its worst quarter since 1987.Britain's top share index was up by 1.95% at the close of trading on Tuesday, a small upturn after weeks of volatility. But it has lost a quarter of its value this year, despite a recovery of more than 15% from the lows seen in mid-March, when many countries ordered residents to stay home to stop the spread of the coronavirus.Tuesday saw tentative gains for world markets on hopes the economic disruption from the pandemic would be weaker than some estimates fear. ...
Calm returns to markets after share turmoil

Calm returns to markets after share turmoil

Business
Stock markets in Europe have opened higher following Monday's plunge, when shares saw the biggest falls since the 2008 financial crisis.London's FTSE 100 share index rose more than 2% after having sunk 7.7% in the previous session.Markets were battered on Monday in reaction to the threat of an oil price war between Russia and Saudi Arabia.But after falling as much as 30% on Monday, oil prices also saw some recovery, with Brent crude rising 4%. The main share indexes in France and Germany were also up by more than 2% on Tuesday morning. The response has been a fairly standard one when it comes to stock market behaviour, said Kathleen Brooks, director at Minerva Analysis."Markets are so emotional, it...
A full analysis of the market turmoil: What Wall Street pros are watching before jumping back in

A full analysis of the market turmoil: What Wall Street pros are watching before jumping back in

Finance
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020.Brendan McDermid | ReutersThe stock market has rushed with historic speed to an extreme place. This means, among plenty else, that the tape is becoming stressed and stretched in a way that tends to precede the kind of reflex rally that is sudden, powerful and probably untrustworthy.The damage toll from the 12% collapse in seven trading days is a litany of rarities. On the highest weekly volume in nearly a decade, the selling became indiscriminate and generated oversold readings for the record books. Fewer than 20 stocks in the S&P 500 are still above their 50-day average price.The broad Dow Jones Composite index went from a 52-week high to 52-week low in ten trading days, fast...
Empty streets, economic turmoil as virus alters daily life

Empty streets, economic turmoil as virus alters daily life

Health
TOKYO -- The coronavirus claimed its first victim in the U.S. Saturday as the number of cases shot up in Iran, Italy and South Korea and the spreading outbreak continued to shake the global economy. The virus altered daily life around the world as governments moved to combat the contagion. Islam's holiest sites were closed to foreign pilgrims, while professional baseball teams played in deserted stadiums in Japan and officials in France advised residents to forgo customary greeting kisses. The list of countries touched by the virus climbed to nearly 60, with new cases reported Saturday in Lebanon, Mexico, France and Ecuador. More than 85,000 people worldwide have contracted the virus, with deaths topping 2,900. A man in his 50s with underlying health conditions became the first coronaviru...
HoF turmoil spurs new bid to find buyer for Coast

HoF turmoil spurs new bid to find buyer for Coast

Business
The owner of Coast, the women's fashion retailer, ‎has accelerated plans to find a buyer after being hit by the fallout from House of Fraser's (HoF) recent collapse into administration. Sky News has learnt that Aurora Fashions, which also owns the Oasis and Warehouse chains, has begun contacting prospective buyers in the last fortnight about a deal to sell the Coast brand.It marks the latest chapter in efforts by Kaupthing, the Icelandic bank, to offload part or all of Aurora.Kaupthing came close to selling the entire business last year to Emerisque Brands, a business owned by an entrepreneur who was at the time the subject of an international arrest warrant issued by Interpol.That‎ deal fell through, and talks about a sale are understood to have been dormant sinc...