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GRAPHIC-Markets snapshot: Oil wreck, bear stocks, rouble trouble

Mon, 09th Mar 2020 11:22

(Adds graphic, updates prices)

By Thyagaraju Adinarayan and Ritvik Carvalho

LONDON, March 9 (Reuters) - A massive oil price collapse
overnight and the fast-spreading coronavirus has led to wild
price swings across global financial markets on Monday, with
some moves as great as 25%.

Those moves came as Saudi Arabia launched a price war with
Russia, sending investors already panicked by the coronavirus
fleeing for safety.

When was the last time oil giants such as BP and
Shell shed one-fourth of their value? Never.

The list below highlights some of the biggest price moves
and their significance:

** Brent crude fell as much as 31.4%, the biggest
daily drop since the first Gulf War

** The yield on 10-year U.S. Treasuries fell
further to a record low of 0.4624%, having halved in just three
sessions

** The slump in yield signals another round of big rate cuts
by global central banks

** The 10-year Bund yield fell to a record low of -0.863%

** U.S. stock futures plunged 5% to hit their daily down
limit and halt trading

** London's FTSE 100 shed 8.4% a few minutes after
the open in its worst single-day drop since the financial crisis

** London-listed Shell plunged 23% and BP 29% in their
worst-ever intraday rout

** The Russian rouble is down over 8%, on track for its
worst drop since December 2014, also when oil prices plunged

** The dollar extended its slide in Asia to as low as 102.60
yen, depths not seen since late 2016

** Emerging-market stocks dropped over 4% and the
world's biggest listed entity, Saudi Aramco, traded
below its IPO price for the first time

(Reporting by Thyagaraju Adinarayan and Ritvik Carvalho,
additional reporting by Marc Jones in London; editing by Larry
King)

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Auchincloss was interim CEO

*

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17 Jan 2024 08:48

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BP names acting CEO Murray Auchincloss as permanent leader

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PRESS: BP close to naming acting CEO Auchincloss as permanent chief

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(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

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