Global Fundamental Analysis 28/04/2020

Australian Market

US Market

U.S. stocks rose, with investors betting that stimulus measures and the easing of coronavirus-lockdown measures around the world could help kick-start economic activity. The Dow Jones Industrial Average gained 354 points, or 1.5%, to 24129 as of the 4 p.m. close of trading. The S&P 500 added 1.5% and the Nasdaq Composite advanced 1.1%.
In the U.S., some states allowed retailers, salons and other businesses to reopen over the weekend as new infections appeared to slow.

Commodities

Gold prices ended lower, with a cautiously optimistic tone for stocks denting haven-related demand for the yellow metal.  Gold for June delivery on Comex fell $11.80, or 0.7%, to settle at $1,723.80 an ounce, after posting a 2.2% weekly gain, and its fourth weekly rise in five weeks on Friday, according to FactSet data.

Oil Futures

U.S. benchmark oil prices ended 25% lower at $12.78 a barrel, ending a four-day streak of gains as a looming storage crisis leads investors including the U.S. Oil Fund, a
large, exchange-traded fund, to announce it will be exiting its long positions in the front-month WTI crude contract.

Forex

The dollar weakened 0.2% against the yen and slightly against the euro, and the WSJ Dollar Index fell 0.3%.

European Markets

European sharemarkets closed higher on Monday. Shares of Lufthansa rose by 10.5% after Germany’s transport minister said he was in favour of protecting the airline. Deutsche Bank (+12.7%) beat first quarter earnings expectations, but warned it might miss its capital requirement target this year. The pan-European STOXX 600
rose by 1.8%.

The German Dax index rose 3.1%. The UK FTSE index lifted by 1.6% with London-listed shares of Rio Tinto up by 0.3% and BHP shares 2.3% higher.

Asian Markets