Ggood morning. Asian stocks fell on Wednesday, and oil prices reached their lowest levels not seen since June, after technology stocks fell on Wall Street for a third consecutive day and AstraZeneca delayed testing a vaccine for the Corona virus.
The FTSE 100 was tilted to open a low of 0.29 pieces.
5 things to start your day
1) Royal Mail is looking forward to the end of its six-day messaging service: The company hinted it may cancel Saturday letter deliveries in one of the biggest postal service changes since Penny Black was introduced 180 years ago.
2) “Economically Mom” to build supply ships for the Royal Navy overseas: Deputies warned of the dangers of permitting a contract to build ships to supply the Royal Navy to a foreign yard.
3) Unions and business leaders are calling for a new vacation plan to avoid mass unemployment: More than 2 million workers are still believed to have taken leave, but the scheme will expire next month.
4) The online grocery boom could lead to a supermarket price warFinally, big grocery sellers make money from digital sales, and that can help them avoid opponents Aldi and Lidl.
5) Amazon pays a British tax officer £ 293 million on revenue of £ 13.7 billionThe American giant is under pressure to increase its tax contributions in Britain in recent years.
What happened overnight
The MSCI’s broadest index of Asia Pacific stocks outside of Japan fell 1.12 percent. Australian shares fell 2.24 percent, while shares in China fell 1.16 percent.
Japan’s Nikkei slipped 1.69%. US S&P 500 E-mini stock futures were down 0.01 pieces, but Nasdaq futures were up 0.72 pieces.
Sentiment over stocks and other risky assets was also hurt after AstraZeneca temporarily halted a late-stage trial of one of the leading Covid vaccine candidates.
Treasury yields fell further in Asia as investors sought safety in holding government debt. Risk aversion also pushed the yen to its highest level in a week against the dollar.
Heavy selling in US tech stocks, driven in part by concerns about excessive purchases of call options, increased the risk of a larger correction in other markets.
The Dow Jones Industrial Average fell 2.25 percent, the S&P lost 2.78 percent, and the Nasdaq Composite index fell 4.11 percent on Wall Street.
Among the US tech names, electric car maker Tesla tumbled 21.06%, its biggest daily drop in percentage, after being excluded from a group of companies added to the S&P 500.
SoftBank Group Corp. shares fell 5% on concerns that the Japanese conglomerate is trading in call options for US tech stocks.
The British pound fell to its lowest level in six weeks against both the dollar and the euro.
Oil futures continued their sharp decline in Asian trading to their lowest levels since June due to concerns about weak global energy demand and oversupply.
Is coming today
Interim results: Computacenter, S4 Capital, Sanne Group, Tullow Oil
Trading statement: Piva
Economics: Inflation (China)
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