EXCHANGE TICKER index for credit hedges approaches four-year high

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This is followed by the stock ticker on important price movements on the international financial markets and their causes:

11.37 am – The coronavirus crisis hits the credit protection market. An index that is considered a barometer for the hedging costs of European companies rises to its highest level since June 2016. The “Markit iTraxx Europe Crossover” index increases by 64 basis points to 382 basis points – at the beginning of February it was still 227 basis points.

11.28 a.m. – A month without a single new order has seen an increase in Airbus. The European aircraft manufacturer’s share price falls by 7.3 per cent to a 13-month low of 99.86 euros, heading for the biggest daily loss in just over five years. The good news is that there were no cancellations in February despite the coronavirus epidemic, writes analyst Sandy Morris of the investment bank Jefferies. He also pointed out that there had also been several months without new orders in each of the previous two years.

11.15 a.m. – Selling pressure on the European stock exchanges is increasing. Dax and EuroStoxx50 each lose about 3.7 percent. At 11,509.42 and 3240.16 points, respectively, they are trading as low as last seen almost seven months ago.

09.53 a.m. – The flight of investors into the “safe haven” US bonds pushes the yield of ten-year securities to a record low for the tenth time in eleven days. It falls to 0.769 from 0.925 percent the previous day. This means that the yield is heading for the biggest daily decline since at least 1953.

09.35 a.m. – The rapid spread of the corona virus deals another blow to aviation and tourism stocks. The European sector index falls by 3.3 percent to a five-and-a-half-year low of 198.92 points. In London, Carnival’s 2008 pence shares are as cheap as they last were eight years ago, after a cruise ship belonging to the company was denied entry to the port of San Francisco due to virus concerns. TUI shares fall to a record low of 510.4 pence.

08.08 a.m. – The yield of the ten-year German federal bond falls to minus 0.714 percent, approaching its record low of September 2019.

07.41 a.m. – The shares of the automotive supplier Continental drop three percent in pre-listing trading at Lang & Schwarz, making it the weakest DAX stock. The experts from JP Morgan lowered their price target to 80 from 119 euros. On Thursday, the Lower Saxons had presented their worst result in ten years.

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Mette Frederiksen is a The Washington Newsday correspondent. With her coverage of general science, NASA and the interface between technology and society, Frederiksen has been in the Science Desk's Technology Beat since joining Washington Newsday in 2018.

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