Markets Rise As Figures Reveal British Economy Worsened Before Pandemic

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3) Airbus has cut its aircraft production rates by a third as the pan-European aircraft manufacturer reacts to the collapse in demand, as airlines immobilize their fleets. The company is reducing the number of its best-selling A320 aircraft to 40 per month, while the larger A330 and A350 will be reduced to two and six per month, respectively.

4) Here are three sectors where work always pays off: while most sectors are making increasing layoffs or systematically putting staff on leave to deal with coronavirus, others face the opposite problem: how to recruit enough personnel quickly enough to meet the unprecedented challenges of a pandemic.

5) The bosses of the largest British banks are cutting wages by millions of pounds in recognition of the struggle their customers face as a massive recession hits. HSBC executives, Lloyds and owner of Natwest Royal Bank of Scotland will no longer receive bonuses for 2020.

What happened overnight

AHis markets were mostly in positive territory on Thursday after another strong day for Wall Street, traders being optimistic that the coronavirus crisis could be approaching its peak, while the prolonged gross gains on the hope that the major producers will accept a massive reduction in production.

Despite news that thousands of people have died of Covid-19 worldwide, slowing news infections provide buoyancy essential to stocks as investors contemplate easing the lock-in restrictions that have strangled the Mondial economy.

The optimistic tone sent the three main indices to Wall Street and the gains spread again to Asia.

Hong Kong, Seoul and Singapore added more than 1% and Sydney nearly 2%. Shanghai gained 0.5 pc, Taipei added 0.2 pc but there were small losses in Tokyo and Jakarta.

Coming today

Commercial declaration: Group man

Economy: Rics Housing Survey, February GDP (United Kingdom), trade balance (Germany), industrial production (Italy), producer price inflation, consumer sentiment (United States)



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