News about Donald Trump COVID-19 positive test worried the markets

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European stock exchanges seem to open lower. The news that American president Donald Trump has been tested positive for the coronavirus creates uncertainty on the trading floor. The opening indicators for the American stock exchanges dropped sharply after the news.

Trump tweeted that he and his wife Melania have the coronavirus. They probably contracted the SARSv2 virus through close contact with advisor Hope Hicks, who was with Trump to the presidential debate in Cleveland. The White House doctor reports that Trump and Melania are quarantined in the White House and that the president will continue to do his job.

Attention is also continuing to be paid to the troubles in Washington surrounding the new aid package for the US economy. On Thursday, the US House of Representatives approved a new package of economic support worth USD 2.2 trillion (EUR 2200 billion). However, it does not seem that the law that governs the package will survive in the Senate, where the Republicans have a majority. In addition, the important American job report, which will be published later in the day, is awaited.

On the Damrak Air France-KLM remains in the spotlight. KLM has now also reached agreement with its pilots on the restructuring plans at the airline. Before, KLM already made deals with the unions for cabin crew and ground crew. As a result, the company is now out of the mainstream with all the unions. The working conditions plan was sent directly to the Ministry of Finance on Thursday evening.

The European stock exchanges closed slightly higher on Thursday. The AEX index climbed 0.5 percent to 550.54 points and the midcap increased 0.9 percent to 812.70 points. The stock exchanges in London and Paris won up to 0.4 percent. The DAX in Frankfurt dropped 0.2 percent. Wall Street was also moving forward. The Dow Jonesex Index finished 0.1 percent in the plus at 27,816, 90 points. The broad S & P 500 thickness 0.5 percent and the technology exchange Nasdaq gained 1.4 percent.

The euro was worth $ 1,1720, compared to $ 1,1754 a day earlier. The price of a barrel of American oil dropped 3.4% to 37.40 dollars. Brent oil was 3.2 percent cheaper at $ 39.62 a barrel.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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