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| - The world's main stock markets brushed off on Wednesday data showing the extent of the economic damage wrought by measures to slow the spread of the new coronavirus. Top among that data: more than 20.2 million US private sector jobs were destroyed in April according to payrolls firm ADP. Nevertheless, US stocks pushed higher at the open, with the Dow rising 0.4 percent. The ADP figures are seen as an indicator of the all-important government jobs report due out Friday, which economists expect to show 28 million jobs lost in the month due to the widespread business shutdowns to contain the virus. "The stock market isn't trading from a standpoint of 'what have you done for me lately'. It's trading from a standpoint of 'what will you do for me later', and in its mind, what comes later is going to look a lot better than what has come lately," said market analyst Patrick J. O'Hare at Briefing.com. "That's why it continues to hold its ground in the face of ugly economic data and downbeat earnings news," he added. European stock markets were mixed in afternoon trading while Asian indices mostly rose, as the dollar climbed and oil prices slid. In other downbeat economic news, the European Commission predicted the eurozone economy would contract by a staggering 7.7 percent in 2020. Calling it a "recession of historic proportions", the EU's executive said the 19-member single currency zone would then rebound by 6.3 percent in 2021, in an uncertain recovery that would be felt unevenly across the continent. It came after official data showed German manufacturers' new orders plunged by a record 15.6 percent in March. A draft agreement revealed that Germany, Europe's biggest economy, will take new steps towards normalisation in May, including reopening shops and schools after weeks of shutdown imposed to control the spread of COVID-19. Federal Reserve Vice Chairman Richard Clarida has meanwhile provided an upbeat outlook, saying the US economy could see positive growth in the second half of the year, though tempered that by saying it was dependent containing the virus. "Risk sentiment continues to be buoyed on news of more countries/states rolling back containment measures, followed by reports of more companies re-opening operations," said Tapas Strickland of National Australia Bank. "That is giving hope that rollback will allow economic activity to resume and that we may be passed the trough in economic activity." British PM Boris Johnson said he could begin to ease a nationwide coronavirus lockdown next week, while Belgium is to open shops on Monday. But fears of a second virus wave as the lockdown eases were keeping traders on their toes. Observers are keeping tabs also on China-US relations after President Donald Trump hit out at Beijing over its handling of the pandemic, sparking fears of a renewal of the economic superpowers' trade war that hit markets last year. "Worries that China could retaliate against the US virus and trade accusations are real," said OANDA's Jeffrey Halley. "If anything can undermine a peak virus rally, a US-China trade war would do the job nicely." London - FTSE 100: UP 0.6 percent at 5,883.74 points Frankfurt - DAX 30: DOWN 0.2 percent at 10,703.67 Paris - CAC 40: DOWN 0.3 percent at 4,468.78 Milan - FTSE MIB: DOWN 0.1 percent at 17,367.37 Madrid - IBEX 35: DOWN 0.2 percent at 6,736.60 EURO STOXX 50: DOWN 0.3 percent at 2,867.09 New York - Dow: UP 0.4 percent at 23,978.88 Hong Kong - Hang Seng: UP 1.1 percent at 24,137.48 (close) Shanghai - Composite: UP 0.6 percent at 2,878.14 (close) Tokyo - Nikkei 225: Closed for a holiday Brent North Sea crude: DOWN 3.0 percent at $30.04 per barrel West Texas Intermediate: DOWN 4.9 percent at $23.35 per barrel Euro/dollar: DOWN at $1.0821 from $1.0834 at 2045 GMT Dollar/yen: DOWN at 106.11 yen from 106.53 yen Pound/dollar: DOWN at $1.2390 from $1.2435 Euro/pound: UP at 87.32 pence from 87.11 pence burs-rl/bp
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