Markets nervous as Covid-19 cases keep rising - business live | Business
(Source: theguardian.com)

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(Original link: theguardian.com)

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Shares fell in Asia, but Europe flat Coronavirus – latest updates See all our coronavirus coverage LIVE Updated
An electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo this morning Photograph: Eugene Hoshiko/AP Graeme Wearden
Mon 29 Jun 2020 09.18 BST First published on Mon 29 Jun 2020 08.13 BST
Share on Facebook Share on Twitter Share via Email Key events Show 8.48am BST 08:48 Virus fears: What the experts say 7.54am BST 07:54 Introduction: Virus worries mount Live feed Show 9.18am BST 09:18
After an hour’s trading, European stock markets are dipping into the red.
The FTSE 100 index is now down 35 points, or 0.5%, at 6123 points. France’s CAC has lost 0.44%.
June is ending with a “whimper”, says Kit Juckes of Societe Generale.
Markets are in retreat as the focus remains firmly on the virus, rather than anything that is happening to the global economy.
It’s the acceleration in infection in some US States that makes headlines and causes concern. That will keep fears of an even less V-shaped recovery...
The smaller FTSE 250 index has lost 0.8%, with cruise operator Carnival the top faller (-5.8%). UK outsourcing group Capita has lost 5.5%, while retail group Frasers (formerly Sports Direct) and bookmaker William Hill have fallen 4.5%.
Facebook Twitter 9.11am BST 09:11
Online grocer Ocado has now dropped to the bottom of the FTSE 100 leaderboard, down 2.6% at £19.80.
This follows a report that Internet shoppers could be hit by a compulsory delivery charge as part of a campaign to cut congestion and toxic emissions.
The Times reported that:
The government is considering a range of measures to reduce the damaging impact of the e-commerce boom, which has led to a rise in delivery vans on British roads.
A report from the Department for Transport’s scientific advisers recommended a “mandatory charge”, similar to that imposed for plastic bags , on all Amazon-style consumer deliveries.
Facebook Twitter 9.02am BST 09:02
European aircraft maker Airbus has warned that the Covid019 pandemic will wipe out around 40% of its planned production levels.
CEO Guillaume Faury told Die Welt newspaper that production and deliveries will be 40% lower than originally planned in 2020 and 2021.
It could take until 2025 to return production to pre-crisis levels, he added.
Faury also warned that the “brutal” drop in sales means Airbus must cut jobs, but declined to say exactly how many:
The crisis in the industry is huge - we have to react to it and adapt....
If there was a second wave of the coronavirus pandemic, with longer travel restrictions, the situation would be worse again. So I don’t want to make any promises.
Airbus employs around 130,000 people worldwide, including thousands at its factory in Broughton, north Wales , which produces wings for commercial planes such as the A320 and A350.
Facebook Twitter 8.54am BST 08:54
This chart from Saxo Bank shows how the US stock market rally has fizzled out in recent sessions:
Saxo Markets UK (@saxomarkets) Today the #SaxoStrats look at the factors contributing to Friday's weak close for equity markets, including the Covid19 acceleration in the US and elsewhere: https://t.co/D2I8QKKHRY
All trading carries risk. pic.twitter.com/9d0hOhUNiu
June 29, 2020 Facebook Twitter 8.48am BST 08:48
Virus fears: What the experts say The re-imposition...