Gold surpasses $ 2000 on virus fears – live updates


3) Boss wages cut in 36 blue-chip companies after the Covid crisis: The wages of 14 companies were cut by 20% – the same as the cut for low-income workers placed on the paid leave scheme by taxpayers.4) Gold hit $ 2,000 (£ 1,530) an ounce for the first time following a record rally amid fears over the impact of the coronavirus pandemic on the global economy. The yellow metal, considered a safe haven asset, has followed a steady upward trajectory in recent months, climbing more than 30% this year.

5) Kodak investigated by SEC into drug manufacturing loan announcement: Shares of former film company, best known for its camera business, exploded after surprise announcement last week . Shares climbed to $ 60 within 48 hours, before falling back to $ 15 on Monday.

What happened during the night

RRisk assets such as stocks have surged in recent months thanks to massive stimulus from central banks and governments, but gold has also rallied, indicating heightened uncertainty about the long-term effects of the global health crisis.

Investors are counting on even more spending in the United States, with White House negotiators pledging to work “around the clock” to reach a deal by the end of the week.

Markets also hung on to comments from the President of the Federal Reserve Bank of San Francisco that the US economy needs more support than initially thought, causing long-term Treasury yields to spiral downward. .

The largest MSCI index of Asia-Pacific stocks outside of Japan on Wednesday was flat near a 6.5-month high at 560.36 points.

Japan’s Nikkei lost 0.86 pc while the Australian benchmark slipped 1 pc. Chinese stocks also fell with the blue chip CSI300 down 0.8 pc, although it was not too far from a recent five-year high.

The South Korean Kospi resisted the trend to reach its highest level since October 2018.

E-Mini futures for the S&P 500 fell 0.1%.

On Wall Street, the Dow Jones ended up 0.6%, the S&P 500 rose 0.4% and the Nasdaq Composite added 0.4%.

Coming today

Intermediate results: Ferrexpo, Hastings, Hill & Smith, IP Group, Legal & General, Metro Bank, Morgan Sindall, PageGroup, Segro, William Hill

Economy: New car registrations (United Kingdom); final PMI services (United Kingdom, China, euro zone, United States, Japan, Germany, France, Italy, Spain); ADP Jobs, Trade Balance (US)


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