The financial markets started the new stock market week and the month of March cautiously with higher prices. The Amsterdam AEX opened 2 percent higher at 550 points. The stock exchanges of London, Frankfurt, Paris and Milan are also 1.5 to 2 percent higher.
Stock prices also rose on the Asian stock markets. The Japanese stock market won almost one percent, as did the Hong Kong and Seoul stock market. The Shanghai stock market added more than 3 percent, despite poor Chinese industry figures due to the many factory closures.
The Japanese central bank promised measures to support markets and limit economic damage. The US central bank also plans to support companies and markets.
$ 6000 billion evaporated
Investors only seem to be on the spot and take a breather after the most intense stock market week in more than 10 years. Global stock prices plummeted by more than 10 percent last week. They were the largest declines since the financial crisis in 2008 and 2009. In just one week’s time, 6,000 billion dollars in stock market value evaporated.
The crude oil price stands at $ 51 for a barrel. The oil and energy ministers of the Opec oil cartel are meeting this week in an extraordinary meeting to discuss the situation that has arisen. The coronavirus paralyzes industry and transport and depresses economic growth and therefore energy demand. The Opec may want to reduce oil production in order to maintain oil prices.
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