[BENGALURU] European shares closed slightly up on Friday after heavy losses in the previous session, but marked their worst week since the peak of the coronavirus sell-off due to persistent concerns over the pace of an economic recovery. Read more at The Business Times.
"Fed's Powell said we are not going to have a V-shaped recovery, and the markets were priced to perfection in terms of how quickly things are going to turn around."
Royal Dutch Shell, BP and Total rose between around 0.6 per cent and 1.7 per cent, despite a drop in oil prices. "As restrictions on industry have been gradually lifted since late April, expectations are that May will be the start of a drawn-out recovery of output," wrote Bert Colijn, Senior Economist, Eurozone, at ING."It could be a long road ahead before industry reaches output seen at the start of 2020."
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Europe: Shares slide on Fed outlook, worries of new virus cases[BENGALURU] European shares moved further away from their three-month peak on Thursday after a downbeat economic outlook from the US Federal Reserve and on worries of a second wave of Covid-19 cases. Read more at The Business Times.
Read more »
Brazil virus deaths top 40,000 as Europe prepares to reopen bordersMore than 1.5 million COVID-19 cases have been identified in Latin America, a region now threatened by a food crisis, while global markets plunged Thursday anticipating a long road to economic recovery. The World Health Organization also warned the pandemic was accelerating in Africa. Brazil on Thursday
Read more »
Seoul: Shares snap nine-day winning streak on Fed caution[SEOUL] South Korean shares fell on Thursday after nine straight sessions of gains, as a sober economic outlook from the US Federal Reserve outweighed optimism over trade data that suggested a recovery in global demand. Read more at The Business Times.
Read more »
Singapore shares fall at Thursday's open after Fed announcement; STI down 1.1%SINGAPORE stocks opened lower on Thursday after the US Federal Reserve confirmed that it will keep the benchmark interest rate at zero until recovery is underway. Read more at The Business Times.
Read more »
Malaysia: Shares open lower on FridayMALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 41.95 points, or 2.69 per cent, to 1,515.30 as at 9.05am. Read more at The Business Times.
Read more »