Construction activity continues to plunge amid rapidly declining orders – Live Updates


3) Lloyds Banking Group expected to continue working longer at home: almost all rival Barclays staff will work at home until at least September, although hundreds of merchants will return next month

4) JCB obtains a government loan of 600 million pounds sterling as an “insurance policy”: the company – which belongs to the billionaire family Bamford – declared that access to the Covid Corporate Finance (CCF) facility Bank of England is “prudent financial management” and hopes not to withdraw money.

5) Manufacturers demand industrial scrapping program to stimulate recovery: a good type system could be used to help companies modernize their aging manufacturing, plant and computer kit in accordance with the agency’s proposals – increasing demand in the supply chain and increasing productivity to get started.

What happened overnight

ASianian stocks hit a two-month high today as government stimulus expectations boosted investor confidence in an economic recovery after the global coronavirus pandemic.

The largest MSCI Asia-Pacific equity index excluding Japan rose 0.4 pc, reaching its highest since March 9.

Stocks in Australia rose 0.66% after the Prime Minister unveiled a fourth stimulus package to repair the economy.

Chinese stocks were little changed due to lingering concerns over diplomatic tension with the United States, while US equity futures fell 0.23 pc.

The euro kept its gains ahead of a meeting of the European Central Bank later today.

Oil prices fell, offsetting gains made in the previous session, due to uncertainty about supply cuts from major producers.

The Nasdaq Composite, the S&P 500 and the Dow Jones Industrial Average are on the verge of surpassing record close highs recorded in February.

Elsewhere in Asia, Japanese stocks broke a three-day winning streak and fell 0.06%, while the Hong Kong stock market gave up its first gains and traded 0.12%.

Coming today

Full year: Helical, Intermediate Capital, Pennon, Renewi, Young & Co’s

Commercial declaration: Card Factory, Go-Ahead, IG Group

Economy: New car registrations, PMI construction, retail sales (UK); ECB Governing Council meeting; non-agricultural productivity, unemployment claims (United States)


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