Overseas Headlines – May 11, 2020

United States:

U.S. Futures Drop With Europe Stocks; Dollar Gains: Markets Wrap

“U.S. stock-index futures retreated alongside European shares on Monday as investors weighed the latest moves around the globe to relax restrictions for the coronavirus. The dollar strengthened and WTI crude oil jumped. Contracts on the S&P 500 Index gave up an earlier gain, with airlines including United Airlines Holdings Inc. dropping in pre-market trading after the carrier canceled a bond sale on Friday. AMC Entertainment Holdings Inc. leapt after reports suggested Amazon.com Inc. may have takeover interest. Mining shares led declines in the Stoxx Europe 600 Index. Equities in Japan outperformed and the yen sank amid growing optimism over the country restarting parts of its economy. Korean shares dipped.”



London Luxury Home Price Drops Accelerate on Pandemic Impact

“The green shoots of recovery for home prices in London’s wealthiest districts have been stamped out before they even took hold. Prices in prime central London dropped 0.3% between March and April, taking the annual decline to 1.3%, according to a report published Monday by broker Knight Frank. It’s the first time in more than a year that the annual rate has accelerated, erasing early signs that the market was bottoming out after last year’s fraught Brexit negotiations..”



Japan Nears End to Its Loose Lockdown With Drop in Virus Cases

“Japan’s approach to the coronavirus, which called on citizens to voluntarily stay at home and for business to enact their own shut down measures, led to predictions of disaster when Prime Minister Shinzo Abe declared a state of emergency last month.But with daily cases of infections dropping to zero in many regions of the country, some parts of Japan are getting ready to lift the already light measures adopted under the declaration. Economy Minister Yasutoshi Nishimura said he is considering lifting the state of emergency for most of the prefectures in the country before May 31, when the current declaration is set to expire.”



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