London-listed airline groups IAG and easyJet have reported substantial knocks to demand from the spread of coronavirus and announced measures ranging from hiring freezes to aircraft redeployment as they seek to cushion the blow.
The Cboe volatility index — known as Wall Street’s “fear gauge” — jumped to its highest level since August 2015, reflecting the heightened volatility in US stocks at a time of growing concerns over the coronavirus outbreak.
US stocks fell more than 4 per cent on Thursday, extending a sell-off to its sixth day and closing in correction territory, as pressure grew on the Federal Reserve and other central banks to cut rates in response to the coronavirus.
Netflix, Clorox and Gilead Sciences are among the mere handful of winners in the S&P 500 during a market rout this week, as investors back companies most likely to weather economic fallout from a potential pandemic.
Pemex, Mexico’s state energy company, virtually doubled its 2019 loss and failed to meet its production target despite hailing a turnround in its fortunes, as it battles to stave off a widely expected second downgrade of its debt to junk status in the coming months.
Underlying measures of business investment in the US looked to be in solid shape at the start of the year, bouncing back from declines at the end of 2019, but economists are questioning how long a recovery might last in the face of the coronavirus outbreak.
Aston Martin’s losses deepened to more than £100m in 2019, the group said on Thursday, as it announced plans to part ways with its finance chief following a turbulent year which culminated in a £500m rescue deal last month.
Bayer’s legal woes in the US have deepened, with the German chemicals and pharmaceuticals group disclosing on Thursday that it faces claims from 48,600 plaintiffs alleging that its Roundup weedkiller causes cancer.
Housebuilder Persimmon announced the resignation of its chief executive after just over a year in the job following a report criticising the quality of the company’s homes and a wave of customer complaints.