Gold prices firmed as investors sought safe-haven assets after sombre US economic data exacerbated fears of a economic downturn amid increasing lockdowns and other restrictions globally to combat the coronavirus pandemic. Spot gold was up 0.6 per cent at $1,580.29 an ounce, having earlier risen as much as 1.8 per […]
Day: April 1, 2020
Oil ends lower after US stockpiles jump
Oil prices have fallen after US crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic. Crude inventories rose by 13.8 million barrels last week, the US Energy Information Administration said. That was the biggest one-week […]
Aluminium prices hit four-year low
Industrial metals prices fell sharply on Wednesday after data showed global factory output shrinking fast, with expectations of a vast supply surplus pushing aluminium below $1,500 a tonne for the first time since 2016. Benchmark aluminium on the London Metal Exchange was down 1.8 per cent at $US1,498 at after […]
Wall Street sinks as virus anxiety grows
The Dow Jones has tumbled more than 700 points as investors fled to safe-haven assets after new orders for US-made goods plunged to an 11-year low and private payrolls fell for the first time since 2017. The blue-chip Dow and the S&P 500 had ended their previous session with their […]
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Japanese stocks tumble on lockdown fears
Japanese shares have plummeted on the first day of the new fiscal year as investors braced for a lockdown of Tokyo, a global recession, and sharp cuts in corporate earnings and dividend payouts due to the coronavirus pandemic. The benchmark Nikkei average fell 4.5 per cent to a one-week closing […]
China factory activity increases slightly
China’s factory activity has improved in March after plunging a month earlier, a private survey showed, but the bare minimal growth highlighted the intense pressure facing businesses as the global coronavirus pandemic shuts down many countries. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 last month, from February’s […]
Rex reverses Qld suspension decision
Regional Express (Rex) has reversed a decision to suspend its Queensland operations following a “last-minute” intervention by the state government. The regional airliner will resume its services on April 1 on a reduced scheduled to be introduced on all five routes registered with the Department of Transport and Main Roads […]
Japanese business confidence worsens – 9Finance
Confidence among large Japanese manufacturers fell sharply in March due to a tax hike and the novel coronavirus crisis, the Bank of Japan’s Tankan survey showed on Wednesday. The index for the quarterly survey slid to minus 8 from zero three months ago, falling into the negative for the first […]
RBA held recession fears before rate cut
Reserve Bank board members decided it was likely Australia’s economy would shrink across the March and June quarters – and potentially even longer – when it cut the cash rate to a record low 0.25 per cent to fight the impact of the coronavirus. The word “recession” was not mentioned […]