Trading Ideas
Month: March 2020
Business News
Nokia appoints Fortum CEO Lundmark to replace Suri from September
Nokia Chief Executive Rajeev Suri will step down in September and be replaced by Pekka Lundmark, who used to work for the Finnish company and is the current CEO of energy group Fortum, Nokia said on Monday.
Business News
Coronavirus expected to hurt U.S. earnings harder and longer
The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict.
Business News
Hyundai reports lowest monthly sales in decade as virus dents demand
Hyundai Motor reported its lowest monthly global sales in a decade in February as the coronavirus outbreak hurt demand, in what is the first major indicator of damage to the broader auto sector from the epidemic.
Business News
Nike temporarily closes European headquarters due to coronavirus case
Nike’s European headquarters in the Netherlands will be closed on Monday and Tuesday after an employee was infected with the coronavirus.
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Nokia appoints Fortum CEO Lundmark to replace Suri from September
Nokia Chief Executive Rajeev Suri will step down in September and be replaced by Pekka Lundmark, who used to work for the Finnish company and is the current CEO of energy group Fortum, Nokia said on Monday. Suri has been in the role for six years and was previously head of Nokia Siemens Networks. The Finnish company has been struggling to regain investors’ confidence after issuing a surprise profit warning in October that slashed off a third of its value and forcing the company to admit some delays in its 5G development. …read more […]
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Business News
Coronavirus deals shattering blow to Asian factories
Asia’s factories took a beating in February from the coronavirus outbreak with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a co-ordinated policy response by central banks to prevent a global recession.
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Morgan Stanley Picks China, Singapore Stocks as Virus Shelters
(Bloomberg) — The coronavirus-wrecked equity markets of China, Singapore and Australia can now provide shelter from the outbreak, according to Morgan Stanley.The investment bank upgraded stocks of the three nations in its model allocation for Asia Pacific and emerging markets on Sunday, citing expectations of further policy stimulus amid the widening public health emergency and cheaper relative valuations.Following the worst week in two years, Asia stocks rebounded on Monday as investors drew optimism from the Bank of Japan, which issued an emergency statement to support market stability. The move came after the Federal Reserve released an unscheduled statement on Friday, …read more […]
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Negative U.S. Yields in Sight as Virus Spurs Recession Bets
(Bloomberg) — The swirl of fresh coronavirus cases and signs of the severity of the hit on the global economy have seasoned strategists warning that U.S. growth could come to a halt this year and some Treasury yields may drop below zero — possibly as early as this week.The warnings come as a rout in equities and rate-cut expectations sent long-term Treasury yields to unprecedented lows. Over the weekend, China’s manufacturing purchasing managers’ index plunged to the lowest on record amid a surge in coronavirus cases and new fatalities — including the first in the U.S. — around the world.Rates …read more […]
Business News
South Korea’s Jeju Air buys Eastar Jet at lower price amid virus outbreak
South Korean budget carrier Jeju Air Co Ltd said on Monday it would acquire a 51% stake in competitor Eastar Jet for 54.5 billion won ($45.49 million), a lower price than previously announced.
Business News
Oil comes off lows as hopes of OPEC cut, stimulus counter virus gloom
Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
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Dow futures rise 150 points in volatile trading as Wall Street grapples with coronavirus fears
Dow stock futures rose more than 100 points late Sunday night as investors assessed fast-moving coronavirus developments. …read more […]
Business News
HNA Group-controlled companies’ shares rise after government help sought
Shares in HNA Group-controlled companies rose on Monday after the Chinese aviation and tourism conglomerate said it had asked the government to help it resolve liquidity risk caused by the coronavirus outbreak which has put heavy pressure on the airline industry.