News

‘Rally of hope’: Why the S&P soared back past 3,000

NEW YORK (Reuters) – Unthinkable just two months ago as the world economy shut down in response to the coronavirus pandemic, the U.S. stock benchmark S&P 500 index broke through the psychologically-important 3,000 level on Tuesday, capping a 37% stock rally since its March low. Flags hang on the outside of the…

Continue reading

News

Stocks rally, S&P 500 crosses 3,000 barrier; oil gains

NEW YORK/LONDON (Reuters) – Global equity and crude oil markets rose on Tuesday as investors focused on China’s promise of more stimulus and prospects of a world economic recovery, allowing them to push aside concerns that U.S.-China rhetoric could threaten a trade deal between the world’s two largest economies. Traders wearing masks…

Continue reading

News

NYSE to reopen trading floor closed by coronavirus

NEW YORK (Reuters) – The New York Stock Exchange will partially reopen the trading floors at its iconic 11 Wall Street building on Tuesday for the first time since March 20 when the bourse was forced to go all-electronic due to the coronavirus pandemic. The Intercontinental Exchange Inc’s (ICE.N) NYSE floor will…

Continue reading

News

Oil prices climb, bolstered by ongoing supply curbs

FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann NEW YORK (Reuters) – Oil prices rose on Tuesday, supported by signs that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing. Brent…

Continue reading

News

Toyota prepping for gradual re-start in Mexico: spokesman

A logo of Toyota is pictured at Bangkok Auto Salon 2019 in Bangkok, Thailand, July 4, 2019. REUTERS/Athit Perawongmetha MEXICO CITY (Reuters) – Toyota Motor Corp’s Mexico unit is in a preparation phase for the gradual re-start of its operations in the states of Baja California and Guanajuato, a spokesman told Reuters…

Continue reading

News

French billionaires raise stakes in defence of publisher Lagardere

PARIS (Reuters) – France’s business elite closed ranks around publishing group Lagardere (LAGA.PA) on Monday with LVMH’s Bernard Arnault and Vivendi’s (VIV.PA) Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital. FILE PHOTO: Bernard Arnault, Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton SE, attends the…

Continue reading

News

Lufthansa has good prospects for future: German ministries

BERLIN (Reuters) – The German Finance and Economy Ministries on Monday said Lufthansa (LHAG.DE) was an operationally healthy company before the coronavirus outbreak, as well as profitable and with good future prospects, but had got into trouble due to the pandemic. “The federal government’s stabilisation package takes account of the needs of…

Continue reading

News

Lufthansa says Germany approves stabilization package

FILE PHOTO: A Lufthansa Airbus A320-200 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, March 14, 2019. REUTERS/Emmanuel Foudrot/File Photo FRANKFURT (Reuters) – Germany’s new Economic Stabilization Fund (WSF) has approved a 9 billion euro ($9.80 billion) stabilization package for Lufthansa (LHAG.DE), Germany’s flagship carrier…

Continue reading