GLOBAL MARKETS-Stocks jump on virus slowdown hopes, but oil slips on oversupply [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Reuters
Stocks jump on virus slowdown hopes, but oil slips on oversupply SYDNEY (Reuters) - Stocks jumped on Monday as investors were encouraged by a slowdown in coronavirus-related deaths and new cases, while oil prices skidded after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive. Equity investors took solace as the death toll from the coronavirus slowed across major European nations including France and Italy. U.S. stock futures rose 4% in Asian hours, trading close to its upper limit after U.S. President Donald Trump expressed hope the country was seeing a “levelling off” of the coronavirus crisis. London’s FTSE was up 3.2% in early trading, while Germany’s DAX index was 4% higher. “The stabilisation we are seeing in the market today is welcomed but it is something really fragile,” said Frank Benzimra, head of Asia equity strategy at Societe Generale. In commodity markets, Brent crude fell as much as $4 after Saudi Arabia and Russia postponed their
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