US stock futures dropped ahead of the opening bell on Friday, signalling an end to a three-day rally in American equities after European markets ran out of steam amid mounting evidence that the coronavirus pandemic is taking a severe toll on the global economy.
Global equities retreated on Thursday while US stock futures pointed downwards as investors await a report that will give a first sense of how much damage the pandemic is doing to the American labour market.
Asia-Pacific stocks rallied overnight after a historic surge in US and European equities as leaders in Washington agreed on a $2tn package to soften the US economic blow from coronavirus.
Hailstorms that lashed Eastern Australia in January are now estimated to cost insurers A$1.2bn ($700mn), according to the latest calculation from the Insurance Council of Australia (ICA).
Asia-Pacific (re)insurance stocks rallied on Tuesday with US and European markets set to follow after the US central bank vowed to buy whatever amount of government bonds necessary to shield the economy from the impact of the coronavirus pandemic.
European (re)insurance stocks sustained another heavy blow in early trading on Monday after the worsening coronavirus crisis forced governments to impose tougher measures to staunch the outbreak and the US Senate failed to agree on a $1trn response bill.
Asia-Pacific markets fell sharply on Monday with Australian stocks leading the sell-off as investors reacted to an altered global business landscape characterised by lockdowns and closures intended to slow the spreading coronavirus.
Asia-Pacific stocks rose on Friday with US and European equity futures also higher as investors react to the flurry of support packages from central banks in response to the coronavirus crisis which handed markets a reprieve from this week’s brutal sell-off.
Asia-Pacific markets were sent into turmoil on Thursday as a sudden rush to dollars and a sell-off of haven assets sent shares tumbling, indicating that investors have lost faith government intervention will curtail the global economic crisis triggered by the coronavirus pandemic.
Equities in Asia-Pacific shed early gains on Wednesday as fresh government stimulus measures failed to shield economies from going into reverse as the rapidly spreading coronavirus outbreak continues to weigh on investor sentiment.
Asia-Pacific stocks rose on Tuesday following the biggest sell-off on Wall Street in more than 30 years with both European and London futures indicating modest gains at open on international economic support measures to fight the impact of the coronavirus.
Stocks in Asia-Pacific plunged yet again in trading on Monday as the US Federal Reserve cut its benchmark interest rate to zero and joined forces with other central banks to launch a massive quantitative easing program in an emergency move on Sunday.
The share prices of AIG, Argo and Greenlight Re all fell more than 20 percent in a historically bad week for US stocks, while the negative impact on Aon’s share price from the broking giant’s proposed takeover of Willis was exacerbated amid the chaos.
European insurance stocks opened broadly in the green on Friday as the rout in global shares eased in early trading on new liquidity measures launched by central banks to stem another punishing week of selling prompted by the coronavirus.
European (re)insurance markets have plummeted – almost to their lowest points since the 2016 Brexit referendum – after US President Donald Trump announced that all travel from Europe to America, excluding from the UK and Ireland, will be suspended for 30 days as part of ongoing efforts to stem the ...
Asia-Pacific (re)insurance stocks sold-off sharply on Thursday after the World Health Organization declared the coronavirus crisis a pandemic and the US temporarily suspended travel from Europe in response to the outbreak, sending Wall Street futures into a tailspin.
Asia-Pacific (re)insurance stocks tumbled on Wednesday as investors continue to watch for developments around government stimulus as the coronavirus continued spreading.
Shares in Australian insurer QBE closed down 10.44 percent on Monday as Asia-Pacific equities plunged following a shock crash in oil prices and yet another wave of panic over the spreading coronavirus.
While Australia is “well-placed” to cover the circa A$5bn ($3.32bn) insured losses stemming from extreme weather in the country since November, the disasters will “undoubtedly” affect price and availability of insurance going forward, according to the country’s regulator.
Safe haven government bonds reached historic highs while (re)insurance stocks across Europe and Asia tumbled on fears over economic disruption caused by the spread as cases approached the 100,000 mark.