European stocks firm and the dollar continues to reign, but off two-week highs, as turbulent oil prices continue to batter the markets
London — Stormy oil markets sent Brent prices crashing to their lowest since 1999 on Wednesday, though a stabilisation of some petrocurrencies and a bounce in European stocks gave investors something buoyant to cling to.
Christopher Peel, chief investment officer of Tavistock Wealth, said eight oil supertankers are moored on the river outside his window in the Portuguese capital, Lisbon. “There is nowhere to put the oil so it shouldn’t come as any surprise to anyone that the front months [oil price contracts] are getting decimated,” he said, though he said it should be a temporary situation.
Italian shares gained 1.3% and the government’s bond yield fell after Prime Minister Giuseppe Conte said Italy, one of the countries hit hardest by the pandemic, could start pulling out of strict stay-at-home orders from May 4.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Covid-19: Stats show UK testing rates are among worst in worldBritain is languishing towards the bottom of a coronavirus testing league table – as the daily number of tests is still just a fifth of the target for the end of the month. IOL_Lifestyle coronavirus
Read more »
NEWS ANALYSIS: Still time to adjust the motor industry master plan for a Covid-19 worldWhen policy designers were devising the 2021-2035 SA automotive master plan, they had no notion of Covid-19 or the mayhem it would cause 🔒
Read more »
Investing in a Covid-19 worldWebinar: Join the M&G and Citadel to discuss the implications of coronavirus pandemic on investments, strategy, opportunities and long term roadmap. Register here:
Read more »
Could Covid-19 see a break-up of the EU? Italy thinks soItaly has long been critical of the bloc, but still expected the EU would come to its aid as the coronavirus struck; it was wrong
Read more »
The latest on the spread of the coronavirus around the worldReported cases of the coronavirus have crossed 2.41 million globally and 165 854 people have died, according to a Reuters tally on Monday.
Read more »
Trump targets Maryland governor | State 're-open' protests: WATCH the top world news videos for todayTrump: Maryland Governor Larry Hogan 'needed to get a little knowledge' | Protesters want Arizona to 're-open' amid virus outbreak; here are the top world news videos. WATCH.
Read more »