• European stock end the session with mixed results
• Gold prices soar to multi-year highs
European indices finished mixed at the end of another volatile session on Tuesday, after China's exports and imports figures fell much less than expected in March as factories resumed production after the authorities began to lift the lockdown restrictions. Also sentiment has improved after few countries showed signs that the outbreak may have peaked on their territories. President Emmanuel Macron announced that France would return to normal life on 11 May if the number of new infections falls by then. On the other side, accordingly to the IMF the global economy may suffer its worst recession since the Great Depression of the 1930s and shrink 3% this year.
The DAX 30 rose 1.6%, CAC 40 gained 0.5% and the IBEX 35 advance 0.5%, while the FTSE 100 lost 1% and the FTSE MIB went down 0.5%.
US indices are trading higher during today’s session as the earnings season kicked in with mixed results: quarterly earnings from JPMorgan Chase and Wells Fargo came below expectations while earnings for Johnson & Johnson beat estimates. Meanwhile, investors are still trying to assess the spread of coronavirus. As of today, nearly 591,000 confirmed cases have been reported in the US, of which over 24,500 have died. Yesterday, New York Governor said “the worst is over if we continue to be smart going forward” and accordingly to President Trump said that growth in new coronavirus infections stabilized. Dow Jones advanced 2.21%, S&P rose 2.58% and Nasdaq is trading 3.45% higher.
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