Archives of “January 31, 2020” day

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Not a good day, week or month for European indices

  
Analysis, Global Indices
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Major indices also closed down sharply on the week

It was not a good day for the European stock markets with all the major indices closing over -1.1% on the day.

The provisional closes are showing:
  • German DAX -1.22%
  • France’s CAC, -1.1%
  • UK’s FTSE 100, -1.4%
  • Spain’s Ibex, -1.1%
  • Italy’s FTSE MIB, -2.29%
For the week, the major indices had sharp falls as well. The provisional changes for the week show:
  • German DAX, -4.3%
  • France’s CAC, -3.5%
  • UK’s FTSE 100 -4.0%
  • Spain’s Ibex, -1.9%
  • Italy’s FTSE MIB, -3%
For the month of January, major indices were also negative.  The provisional changes for the month show:
  • German DAX, -2%
  • France’s CAC, -2.87%
  • UK’s FTSE 100, -3.4%
  • Spain’s Ibex, -1.76%
  • Italy’s FTSE MIB, -1.15%
Not a good day, not a good week, and not a good start to the year for the European indices

Chinese markets return next week but at least two-thirds of the economy will stay shut

  
  Analysis

Fourteen provinces and cities have said that businesses need not start operations until at least the second week of February

According to Bloomberg, those account for almost 69% of China’s GDP last year. Notably, all the key eastern manufacturing provinces are observing an extended break period due to the coronavirus situation – including Guangdong, Shanghai and Jiangsu.

As mentioned earlier, the longer that the virus outbreak disrupts the Chinese economy, the bigger the impact it will have on the global economy as well.
This heat map drawn up also doesn’t make for good reading as it shows how heavily global trade may be disrupted by China’s prolonged break/self-quarantine:
China
As such, even with Chinese markets returning next week, it may yet be a fight to avoid a bloodbath as the economy is nowhere near operating at full capacity until there is more clarity over the virus outbreak.

First two cases of the new coronavirus confirmed in the UK

  
  Analysis
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England’s chief medical officer confirms

The two patients are members of the same family and the health department says that they are using tried and tested procedures to prevent further spread of the virus.

The full statement by Prof Chris Witty:

“We can confirm that two patients in England, who are members of the same family, have tested positive for coronavirus. The patients are receiving specialist NHS care, and we are using tried and tested infection control procedures to prevent further spread of the virus.

The NHS is extremely well-prepared and used to managing infections and we are already working rapidly to identify any contacts the patients had, to prevent further spread.

We have been preparing for UK cases of novel coronavirus and we have robust infection control measures in place to respond immediately. We are continuing to work closely with the World Health Organization and the international community as the outbreak in China develops to ensure we are ready for all eventualities.”

Nikkei 225 closes higher by 0.99% at 23,205.18

  
Analysis, Global Indices

Mixed markets in Asia amid coronavirus concerns still

Nikkei 31-01

Japanese stocks are mostly taking their cue from Wall Street after the overnight surge higher, brushing aside fears surrounding the coronavirus outbreak situation.

The WHO officially declared the outbreak a global emergency but limited their warning by saying that “there is no reason for measures that unnecessarily interfere with international travel and trade” to/with China for now.
The Hang Seng index is down by 0.4% with some softer tones also observed in other regional stocks. US futures are keeping more calm though, staying near flat levels currently.
As such, USD/JPY is still keeping a tad higher around 109.05 ahead of European trading.

Count now up to 64 US military personnel in Iraq suffered brain trauma in a Iranian missile attack

  
Analysis, Politics
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Originally it was no one was injured

  • Then it went to 11
  • Then 34
  • Then 50
  • And now its 64
64 service members — 14 more than previously reported — have been diagnosed with mild traumatic brain injuries, Lieutenant Colonel Thomas Campbell, a Defense Department spokesman, said in a statement on Thursday night. 
Of those, 39 have returned to duty; at least 21 have gone to Germany for “further evaluation and treatment.”
The steady drip feed of more and more brain injured personnel suggests even further bad news to come on this. Are those screeching about misinformation coming out of China doing the same on how the US is treating its people?
All is not well.
Originally it was no one was injured

US politics impeachment news – Republican senator hints at calling witnesses

  
Analysis, Politics
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Reuters with the item of note:

  • U.S Republican senator Murkowski, in question, says ‘dispute about material facts weighs in favour of calling additional witnesses’ in Trump impeachment trial
This, of course, does not mean witnesses will be called. The farcical circus is set to continue. But, for the politics folks, a glimmer of a crack appearing?
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