Global stocks rally

6 April 2020

As the virus shows signs of peaking in Europe, global stocks rallied today with investors welcoming signs that the measures taken to contain the pandemic are starting to show results in some of the worst affected countries.

The FTSE100 rose by 2.5% when opened while the DAX in Frankfurt gained 3.9% and in Paris, the CAC40 was 3.4% higher.

The S&P500 has been tipped to be up by 3.6% at the open today while in Asia, the markets rallied.

Asian markets gain

Japan's Nikkei 225 gained around 4% today and other countries in the Asia-Pacific region showed gains.

In Australia, the benchmark S&P500 gained 4.3% and the KOSPI in South Korea moved up by 3.3%.

There is a sense of optimism around the world's major markets despite the recent downfall of the global economy

Oil's slump may not be over

Brent crude fell by 0.6% and was trading at $33.90 a barrel while WTI was trading at $27.33 a barrel, dropping by as much as 3.6%.

There was even a drop of almost 12% after Saudi Arabia and Russia clashed over the weekend over agreements regarding supply and demand.

The storage capacity of global oil is filling quickly, with more than 70% capacity reached and increasing.

Demand should be back to normal around May when the situation worldwide will start getting back to normal. 

Financial Events to watch for today

15:30 3-Month Bill Auction