Bloomberg US equity-index futures gained on Wednesday after President Donald Trump pushed again to reopen the economy, while stocks in Europe drifted amid mixed corporate earnings and more dismal economic data. The dollar steadied and Treasury yields edged higher. The Stoxx Europe 600 index struggled for direction after advancing the most in almost three weeks on Tuesday, with gains for …

Bloomberg Indian stocks rebounded from their lowest level in almost two weeks as data showing record contraction in the nation’s services industry in April underlined the need for more support measures from the government. The S&P BSE Sensex jumped 0.9% to 31,728.72 as of 11:47 am in Mumbai, reversing losses of as much as 0.9%. The NSE Nifty 50 Index …

Bloomberg Australian shares are slowly recovering from the March sell-off even as the global economic outlook gets gloomier with the fresh trade discord between the US and China. This week the stock benchmark Down Under is on track to record best gain in about a month. The prospects of the first recession in almost 30 years and little-to-no corporate earnings …

Bloomberg UniCredit SpA reported its biggest loss in more than three years as provisions related to the coronavirus added to the pain of one off costs for job cuts and the writedown of its Turkish unit. The net loss totalled 2.71 billion euros ($2.94 billion), as loan-loss provisions climbed to 1.26 billion euros, the Milan-based bank said on Wednesday. About …

Bloomberg Capitalworks Investment Partners Pty Ltd. plans to invest 5 billion rand ($270 million) of newly raised cash in mid-sized South African companies hit by a shrinking local economy and the coronavirus pandemic. The firm raised 25% more than planned for its Private Equity Fund III from Morgan Stanley’s Alternative Investments Partners (AIP) unit, institutional investors and wealthy families, Capitalworks …

Bloomberg Credit Agricole SA is setting aside almost three times the amount it booked a year ago to cover souring loans because of the impact of the coronavirus, the latest lender to try and estimate the damage to its balance sheet from the outbreak. Provisions in the first three months of the year jumped to 621 million euros from 225 …

Bloomberg Australian bank investors got their first taste of what is set to be a horror earnings season, as National Australia Bank Ltd. (NAB) reported a 51% plunge in profit, slashed its dividend and embarked on a $2.24 billion capital raising. The early announcement — the lender wasn’t due to report until next week — has shareholders bracing for the …

Bloomberg Indian money managers are dumping corporate bonds as they struggle to meet redemptions after the biggest-ever forced closure of funds in the country last month. Even higher-rated debt is under pressure. Notes issued by government-backed lenders Punjab National Bank, Andhra Bank and Canara Bank were traded in the past few days at the highest yields in over a year …

Bloomberg The Bank of Japan (BOJ) said it’ll buy as many government bonds as it needs to and ramped up purchases of corporate debt, adding stimulus after the declaration of a nationwide state of emergency brought more shutdowns and heightened the need for financial support at struggling businesses. By ditching the guideline to increase holdings of government debt by around …

Bloomberg The coronavirus is muddying the outlook for London’s second-biggest airport. Richard Branson’s Virgin Atlantic Airways Ltd became the latest carrier to back away from London Gatwick, saying it will shutter its operation at least temporarily to focus on the much larger Heathrow. With arch-rival British Airways reportedly looking to do the same, and Gatwick’s third-largest tenant, Norwegian Air Shuttle …