LHA.DE - Deutsche Lufthansa AG

XETRA - XETRA Delayed price. Currency in EUR
12.03
-1.03 (-7.89%)
As of 4:02PM CET. Market open.
Stock chart is not supported by your current browser
Previous close13.06
Open12.71
Bid12.02 x 948200
Ask12.03 x 1900800
Day's range11.91 - 12.74
52-week range11.91 - 23.16
Volume14,477,804
Avg. volume5,080,683
Market cap5.753B
Beta (5Y monthly)1.00
PE ratio (TTM)4.14
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.80 (6.13%)
Ex-dividend date08 May 2019
1y target estN/A
  • Airlines KLM and Lufthansa to make budget cuts due to coronavirus
    Reuters

    Airlines KLM and Lufthansa to make budget cuts due to coronavirus

    KLM, the Dutch arm of Air France KLM , joined Germany's Lufthansa on Wednesday in making budget cuts in response to a slowdown in business resulting from the coronavirus outbreak. KLM will cut back on hiring new staff and external consultants, delay new IT projects and office refurbishment plans and reduce travel expenses significantly, Chief Financial Officer Erik Swelheim said in an internal letter to management. "The impact on KLM's revenues will be very significant and will only partly be mitigated by lower costs and a lower fuel price," Swelheim said in reference to the coronavirus.

  • Lufthansa Freezes Hiring as Coronavirus Outbreak Squeezes Demand
    Bloomberg

    Lufthansa Freezes Hiring as Coronavirus Outbreak Squeezes Demand

    (Bloomberg) -- Deutsche Lufthansa AG is adopting a package of cost-saving measures, including a hiring freeze, as the economic fallout of the coronavirus starts to bite. The shares fell to a six-month low.While it cannot yet estimate the impact of the virus on earnings, Lufthansa is putting all hiring on hold and offering employees unpaid leave effective immediately, the German airline said Wednesday in a statement. It’s also looking at expanding part-time work options.Global cases of the new coronavirus currently total 80,991, with China accounting for the bulk of those as well as most of the deaths. Concern is growing that the outbreak could develop into a pandemic. Parts of northern Italy -- the Lufthansa group’s second-biggest foreign market, after the U.S. -- are under a lockdown after an outbreak there.Lufthansa and its Swiss and Austrian arms have already scrapped all flights serving mainland China until the end of March. It said it’s planning further cuts to Hong Kong after reducing capacity there. The measures translate into the equivalent of 13 idle aircraft.Shares of Lufthansa fell as much as 3.6% to 12.93 euros, the lowest intraday price since Aug. 16, and were down 3.3% as of 10 a.m. in Frankfurt. The carrier is also scrapping all flight attendant and station personnel training courses that were due to begin in April. In administrative areas, the core Lufthansa brand will reduce project volume by 10% and the budget for material costs by 20%, it said.The group will present fourth-quarter earnings on March 19, when it will comment more on the outbreak, Lufthansa said.To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.netTo contact the editors responsible for this story: Daniel Schaefer at dschaefer36@bloomberg.net, Tom Lavell, Christopher JasperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    Airlines plunge as Italian coronavirus outbreak threatens longer crisis

    PARIS/LONDON, Feb 24 (Reuters) - European budget airlines bore the brunt of Monday's plunge in global stock markets as the arrival of the coronavirus in Italy pointed to a longer, deeper crisis than many have banked on. EasyJet dropped 16.4% and Ryanair 13.5% as airlines were forced to reassess the fallout from the rapid spread of the COVID-19 virus across Asia and beyond, with South Korea, Italy and Iran now struggling to contain outbreaks. "Concerns are growing that COVID-19 continues to spread and will impact demand to and from other European countries," Credit Suisse analysts said.

  • Is Deutsche Lufthansa AG (ETR:LHA) A Good Fit For Your Dividend Portfolio?
    Simply Wall St.

    Is Deutsche Lufthansa AG (ETR:LHA) A Good Fit For Your Dividend Portfolio?

    Dividend paying stocks like Deutsche Lufthansa AG (ETR:LHA) tend to be popular with investors, and for good reason...

  • What's the Big Attraction in British Airways?
    Bloomberg

    What's the Big Attraction in British Airways?

    (Bloomberg Opinion) -- Even Willie Walsh admits that International Consolidated Airlines Group SA, where he’s the boss, is a “very boring name” for an airline group (IAG’s portfolio includes the more evocatively titled British Airways and Iberia).But should his successor ever wish to change it to something racier they’ll have to seek the blessing of Qatar Airways. On Wednesday the loss-making Gulf carrier said it had hiked its IAG stake from 21.4% to 25.1% in a move that will have cost about $600 million at current prices.Under British share ownership rules, an investor with 25% or more of the stock can block special resolutions, such as changes to the articles of association or to a company’s name. Unlike some airlines, IAG is focused on making money for its shareholders but it’s still a little baffling why the Qatar Airways boss, Akbar Al Baker, would pay all that money for such limited influence (his airline didn’t respond to questions seeking further clarification). Usually, the company’s approach is not to seek board seats.Qatar Airways is doubtless snaffling up stakes in rivals as a means of asserting soft power on behalf of its government, and enhancing its own global flight network — and it’s not alone in doing that. But the Gulf company is one of the most acquisitive carriers, and maybe that’s not a good thing given the mixed performance of airline stocks. In addition to its IAG shares, Qatar owns minority stakes in Latam, Cathay Pacific and China Southern Airlines. It also wants one in RwandAir. Financial considerations aside, Qatar certainly has more of a need to curry favor with international partners than a typical airline. In 2017, the state’s regional neighbors Saudi Arabia, Bahrain, Egypt and the United Arab Emirates imposed an air, sea and land blockade that remains in place. That threatens Doha’s status as an aviation hub.But Qatar Airways’ efforts to gain influence overseas by acquiring stakes in rival carriers haven’t always been welcome. Al Baker had to give up on buying a stake in American Airlines Group Inc. after the latter’s chief executive officer, Doug Parker, made clear the Qataris wouldn’t be welcome. U.S. airlines often accuse the Gulf carriers of unfair competition owing to state subsidies, which they deny.More recently, Lufthansa AG said Qatar Airways should rethink any idea of investing in the German flag carrier. “We did not have Lufthansa privatized in Germany to have it nationalized in Qatar," a spokesman told Reuters in December, sounding unusually frosty.   In fairness, IAG has been one of Qatar Airways’ better investments. The stock has gained about 17% in British pound terms since the airline first acquired a 10% stake in 2015. Subsequent IAG share purchases have done better. With respect, though, few financial advisers would counsel their clients to make concentrated bets on airline stocks.Some of Qatar Airways’ other investments are instructive. Earlier this month Air Italy went into liquidation despite Qatar’s strong desire to keep it afloat. In the end its 49% shareholding counted for nothing. The 9.6% stake that Qatar purchased in Cathay Pacific Airways Ltd. in 2017 also appears to be underwater. The stake was acquired for HK$13.65 a share but the stock is now worth about HK$10.50 amid the protests in Hong Kong and the new coronavirus. Others have struggled too. Qatar’s Gulf rival Etihad Airways PJSC invested in Alitalia and Air Berlin Plc. Both went bust.Of course, Al Baker can invest his company’s capital however he wishes — he doesn’t have shareholders to answer to. But he may want to listen to someone who does. Walsh, who will step down at IAG in March, had this to say about the merits of shareholdings and alliances late last year: “Taking a minority stake without having some form of control, or some influence over what the airline is going to do, has no value whatsoever.”To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: V-day of records

    * STOXX 600 hits fresh record highs * German GDP disappoints * EDF tops STOXX 600 after beating forecast * RBS shares drop after results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. CLOSING SNAPSHOT: V-DAY OF RECORDS (1640 GMT) Here it comes a good reason to celebrate this Valentine's Day: the STOXX 600 hit record highs today, again!

  • Reuters - UK Focus

    LIVE MARKETS-A rate cut every five days

    * STOXX 600 hits fresh record highs * German GDP disappoints * EDF tops STOXX 600 after beating forecast * RBS shares drop after results * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. A RATE CUT EVERY FIVE DAYS (1405 GMT) When Mexico decided to cut rates yesterday little did they know they'd be the 800th to do so since the global financial crisis (H/T to BofA on the rate cut count).

  • Reuters - UK Focus

    LIVE MARKETS-Much love for France on Valentine's Day

    * STOXX 600 hits fresh record highs * German GDP disappoints * EDF tops STOXX 600 after beating forecast * RBS shares drop after results * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. MUCH LOVE FOR FRANCE ON VALENTINE'S DAY (1157 GMT) If you look at the top movers today, there is an eye-catching French utility topping the pan-European index: EDF - the stock gained more than 9% after the company beat forecasts.

  • Reuters - UK Focus

    EU aviation agency says monitoring coronavirus, no current need for directive

    The European Union Aviation Safety Agency (EASA) issued a safety information bulletin on Monday saying It was closely monitoring developments related to the coronavirus outbreak in China but the concern does currently warrant an operational directive.

  • Reuters - UK Focus

    Flights axed and floods feared as Storm Ciara clobbers Europe

    Storm Ciara lashed Britain and northern continental Europe with heavy rain and wind speeds that reached more than 90 miles an hour (145 kph) in places on Sunday, forcing the cancellation of hundreds of flights, train services and sports matches. More than 200 flood warnings were issued across Britain, which recorded a maximum wind speed of 93 miles an hour at Aberdaron in Wales.

  • Reuters - UK Focus

    Airbus posts strong January orders, delivers 31 jets

    Airbus posted its biggest January order haul in at least 15 years on Thursday as it booked a major leasing order that has been in the pipeline for several months, and carried out 31 aircraft deliveries. The European planemaker said it had taken orders for 296 aircraft in January, including the recently finalised order for 102 planes from Air Lease Corp as well as 100 jets from U.S. low-cost carrier Spirit Airlines. After cancellations, it started the year with 274 net orders.

  • Ryanair Is a Polluting Airline. There's No Hiding That Fact
    Bloomberg

    Ryanair Is a Polluting Airline. There's No Hiding That Fact

    (Bloomberg Opinion) -- Ryanair Holdings Plc has been given a telling off by the U.K.’s advertising watchdog for making “misleading” claims about its carbon emissions. Ads claiming Ryanair is Europe’s “lowest emissions airline” must be withdrawn because the Irish carrier did not fully substantiate this and other environmental boasts, the Advertising Standards Authority found.As the climate crisis intensifies, Ryanair probably won’t be the last big company given a dressing down by regulators for “greenwashing.” Environmental considerations are increasingly directing consumer purchases and institutional investment decisions. This creates a big incentive for companies to put a positive spin on things. The huge variety and inherent complexity of some climate-related disclosures tempt businesses to focus on the flattering ones and ignore the rest. In fairness to Ryanair, its claims are based on facts. But it’s an airline, and airlines are heavy polluters, however much they tie a bow on it.The company and its outspoken boss, Michael O’Leary, certainly have form when it comes to making specious claims about the business. On past occasions the company has claimed to be “Europe’s favorite airline.” That may have been true in terms of passengers carried — it’s neck and neck with Deutsche Lufthansa AG — but Ryanair ranks last in Which Magazine’s yearly U.K. passenger satisfaction survey. O’Leary’s capacity for chutzpah is high.In some respects, the ASA’s new ruling is a bit harsh on Ryanair. Its operations are pretty efficient in terms of carbon per passenger kilometer traveled, as I’ve written before.Ryanair flights tend to be full, it doesn’t waste space on business class and its planes fly point-to-point, rather than via hubs, which saves fuel. If consumers are going to buy a product or service anyway, it’s better that they favor a company with a lower per-unit carbon footprint. Ryanair’s new practice of publishing a monthly CO2 report is commendable too. ASA’s main beef was that it hadn’t provided sufficient data to back up its claims and some information was out of date.Still, no one should shed tears on Ryanair’s behalf; its environmental messaging is still way off key. In public statements, O’Leary has repeatedly disparaged climate science. Furthermore, Ryanair’s business model of selling cheap tickets has helped transform flying from an uncommon luxury into a mass-market phenomenon, thereby worsening the industry’s emissions.In absolute terms, Ryanair’s carbon emissions aren’t the biggest among European airlines. But they’ve kept rising because Ryanair is carrying more passengers every year.It’s fine for companies to brag about and set targets for carbon efficiency, as Ryanair does. This a necessary counter-balance to reporting only on absolute emissions, which might show improvement just because a company’s sales have declined.  If their total emissions keep rising, however, corporate claims to be the “greenest” anything will ring hollow.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • CDC Readies for Pandemic; Long Vaccine Timeline: Virus Update
    Bloomberg

    CDC Readies for Pandemic; Long Vaccine Timeline: Virus Update

    (Bloomberg) -- The U.S. hasn’t received a request from China to get flexibility on the countries’ trade deal because of the coronavirus outbreak, said a spokesman for the U.S. government. Animal research and genetic analysis of the virus increasingly points to bats as a likely origin, scientists say.The U.S. Centers for Disease Control and Prevention is working to get emergency approval for a test for the virus, and says it’s preparing for the disease to become a pandemic. The death toll from the coronavirus outbreak rose past 360; total confirmed cases reached almost 17,400.Bloomberg is tracking the outbreak on the terminal and online.Key Developments:HHS may need $136 million more for coronavirus, Washington Post reportsChina’s government accused the U.S. of “overreacting” in response to outbreakOutbreak puts China’s commodity industry at riskCoronavirus Likely Began in Bats, Scientists Say (4:13 p.m. NY)Scientists increasingly believe the coronavirus originated in bats, which can harbor hundreds of diseases. As people and wild animals come into increasing contact because of human expansion, future outbreaks are likely.Peter Daszak, a disease ecologist at nonprofit EcoHealth Alliance, would know. He and his team have suited up and ventured into caves all over China and the rest of world in search of bats and the pathogens they carry. “We go into caves,” said Daszak. “We don’t just walk in. We wear a full-body suit: breathing masks, gloves and all the correct equipment.”Read the full story here. Princeton Isolates 108 Students as Precaution (3:51 p.m. NY)Princeton University has ordered 108 recent student visitors to China to isolate themselves as a precaution amid the coronavirus outbreak.The students are being evaluated “on a one-by-one basis,” and most are expected to be classified as low-risk as early as this evening, according to Michael Hotchkiss, a spokesman for the Ivy League school. None of the students have shown symptoms of the virus, Hotchkiss said. The university told students on Jan. 31 to self-isolate based on federal health guidance, he said.U.S.: No Request From China on Trade Deal Changes (3 p.m. NY)A spokesman for U.S. Trade Representative Robert Lighthizer said Washington hasn’t received any request from China to discuss changes in Beijing’s purchase commitments as part of the phase-one trade deal set to take effect this month.Chinese officials are hoping the U.S. will agree to some flexibility on pledges in their pact, people familiar with the situation said. Beijing is trying to contain the coronavirus crisis, which threatens to slow domestic growth with repercussions around the world.The trade deal has a clause that states the U.S. and China will consult “in the event that a natural disaster or other unforeseeable event” delays either from complying with the agreement.Carnival Shares Fall as Passenger Tests Positive (1:20 p.m. NY)Carnival Corp.’s Princess Cruises said a recent passenger in Asia tested positive for coronavirus, prompting Japanese health officials to delay the ship he’d been on while they conduct a review of all guests and crew.Princess said in an emailed statement Monday that the passenger embarked in Yokohama, Japan, on Jan. 20 and disembarked in Hong Kong on Jan. 25. The ship, Diamond Princess, then continued its round-trip journey to ultimately take other passengers back to Yokohama, which is near Tokyo.On Saturday, the passenger, who was from Hong Kong, tested positive for coronavirus at a local hospital there, according to Princess. The episode comes just days after a ship from Carnival’s Costa Crociere unit was put on lockdown at a port near Rome over concerns that passengers might have had coronavirus. Those passengers were eventually diagnosed with the flu.Carnival shares fell as much as 3.3% to $42.10, the lowest intraday level since October.Vaccine Could Take Year or More, Glaxo Says (12:32 p.m. NY)Developing a vaccine against the coronavirus could take 12 to 18 months, Thomas Breuer, GlaxoSmithKline Plc’s chief medical officer for vaccines, said in an interview with Bloomberg TV Monday.While technology could enable researchers to come up with new vaccine candidates within a few months, they will then have to undergo human safety and efficacy trials that may last about a year, Breuer said.Read more about efforts to develop a vaccine here.CDC Seeks Emergency Approval for Virus Test (11:58 a.m. NY)U.S. health officials are seeking emergency approval to roll out a test for the coronavirus that can be used by hospitals and state health authorities, instead of having samples shipped to the Centers for Disease Control and Prevention for analysis.The agency is preparing for the outbreak as if it will be a pandemic that spreads widely from China to other countries, including the U.S., said Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases. The goal of public health officials is to slow the virus’s entry into the U.S., she said.Federal and local health authorities have been monitoring people who have displayed symptoms and have a travel history that puts them at risk. The vast majority have tested negative: There are 11 confirmed cases in the U.S., and 167 people who have a negative test. It’s possible that some people can test negative and then have a positive result later, depending on how far along their illness is.The severity of the U.S. cases has varied, with some people becoming more severely ill, Messonnier said. Some have needed oxygen, she said.EU Doesn’t See Need for Broad Travel Restrictions (11:19 a.m. NY)The European Union doesn’t see the need for blanket travel restrictions in response to the coronavirus outbreak, Stella Kyriakides, the EU’s top health official, said in an interview with Bloomberg TV. Some EU member states, such as Italy, have taken such measures.Kyriakides, the European commissioner for health and food safety, said she has no concerns about China’s response to the outbreak.There are currently 25 coronavirus cases that have been identified in Europe, 21 in the EU, two in the U.K. and two in Russia, according to Andrea Ammon, the executive director of the European Centre for Disease Prevention and Control.“For the time being the situation in Europe is under control,” Ammon told members of the Euopean parliament in Brussels on Monday. “The aim currently is to really confine the cases and to prevent the further spread.”China Seeks U.S. Flexibility on Trade Targets (10:05 a.m. NY)Chinese officials are hoping the U.S. will agree to some flexibility on pledges in their phase-one trade deal, people familiar with the situation said, as Beijing tries to contain a health crisis that threatens to slow domestic growth with repercussions around the world.The agreement sealed Jan. 15 is supposed to take effect in mid-February. It has a clause that states the U.S. and China will consult “in the event that a natural disaster or other unforeseeable event” delays either from complying with the agreement. It’s unclear whether China has formally requested such a consultation yet, but the people familiar with the matter said the plan is to ask for it at some point.The Chinese Commerce Ministry and U.S. Trade Representative didn’t immediately respond to a request for comment.Lufthansa Extends China Flight Suspension (9:02 a.m. NY)German air carrier Deutsche Lufthansa AG said it would extend a suspension of flights to and from China because of the coronavirus outbreak.The airline will maintain a halt on service to and from Beijing and Shanghai until Feb. 28. Nanjing, Shenyang and Qingdao service suspensions will be extended to March 28, the airline said in a statement. It will continue to fly to and from Hong Kong.Last month, the airline announced it would suspend service to the Chinese mainland until Feb. 9.Over 25,000 China Flights Axed Amid Virus Disruption (7:52 a.m. NY)More than 25,000 flights to, from and within China will be canceled this week as more than two dozen airlines suspend services to the country, an unprecedented shakeup in the world’s second-largest aviation market.China Considers Lowering 2020 Growth Expectations (6:30 a.m. NY)Officials are evaluating whether the target for economic growth this year should be softened as part of a broader review. Further measures to shore up the economy are being considered, including increasing the planned cap on the budget deficit-to-GDP ratio and selling more special government bonds.Economists had expected China would aim for output growth of “around 6%” this year after seeking a range of 6% to 6.5% in 2019.China’s Biggest LNG Buyers Consider Force Majeure (6:53 p.m. HK)China’s big state-owned liquefied natural gas importers are considering force majeure declarations on contracted cargo deliveries as they grapple with the impact from the novel coronavirus, according to people with knowledge of the situation.Crop Cargoes Stuck at China Ports on Virus Controls (6:13 p.m. HK)Logistical constraints at some Chinese ports due to the coronavirus are holding up deliveries of agricultural goods from soy to palm oil cargoes. While China’s economic planner said that food supply can be ensured and prices will remain stable, the port disruptions highlight the country’s vulnerability.WHO Director-General Says Coronavirus Must Be Fought at Source (5:57 p.m. HK)The spread of the new virus can remain “minimal and slow” if the outbreak is fought at the source and countries cooperate, WHO Director-General Tedros Adhanom Ghebreyesus said. “There is no reason for any measures that unnecessarily interfere with international travel and trade,” he said.Hong Kong to Close More Checkpoints (5:23 p.m. HK)Hong Kong will close more checkpoints, including two major land ports on the border with the mainland, from midnight, Chief Executive Carrie Lam said at briefing. Only three out of the 13 checkpoints will stay open, including Shenzhen Bay port, Hong Kong-Zhuhai-Macau Bridge port and Hong Kong airport. Striking Hong Kong health workers had demanded that all entry points be shut.China Lunar New Year Passenger Volume Falls 73% (4:40 p.m. HK)The number of trips made in China over the Lunar New Year break plunged 73% to about 190 million from the holiday last year as people were prohibited or refrained from travel.Indonesia to Temporarily Stop Food Imports From China (4:22 p.m. HK)The government will find alternative suppliers to replace goods from China, according to a senior official. Details of the suspension will be discussed in a coordinating meeting.China Blasts U.S. for ‘Overreaction’ (3:56 p.m. HK)China said the U.S. had “inappropriately overreacted” to the deadly virus originating on the mainland and hasn’t provided much help to counter the outbreak.“The U.S. government hasn’t provided any substantial assistance to us, but it was the first to evacuate personnel from its consulate in Wuhan, the first to suggest partial withdrawal of its embassy staff, and the first to impose a travel ban on Chinese travelers,” Chinese foreign ministry spokeswoman Hua Chunying said on Monday.PBOC Says Stock Plunge Caused by “Herd Effect” (3:46 p.m. HK)There were some “irrational” factors in Monday’s stock slump, PBOC-backed Financial News said in commentary published on the People’s Bank of China WeChat account. The post says the impact from the epidemic on China’s economy is temporary and limited.Russia May Deport Foreigners With Coronavirus (3:45 p.m. HK)Russia may deport foreign citizens who are infected with the coronavirus as part of a national plan against the outbreak signed by Prime Minister Mikhail Mishustin.The government will also postpone the flagship Sochi Economic Forum due to be held Feb. 12-14 as a precaution, Mishustin said at a televised meeting with his deputies. Russia reported its first two cases of coronavirus on Friday.Germany Says It’s Ready for an Epidemic (3:09 p.m. HK)Germany has sufficient quarantine facilities to handle an epidemic, but the outbreak of the coronavirus is below that threshold, Health Minister Jens Spahn said in an interview with public broadcaster ARD.Thailand Sees Results From Drug Mixture (2:44 p.m. HK)A cocktail of antiviral drugs appeared effective in treating a seriously ill coronavirus patient, a Thai health official said.The HIV medicines lopinavir and ritonavir, which are sold by AbbVie Inc. as the product Kaletra, was used on three patients in conjunction with the anti-flu medication oseltamivir, sold by Roche Holding AG and Chugai Pharmaceutical Co. as Tamiflu, Somkiat Lalitwongsa, director of the Rajavithi Hospital in Bangkok, told reporters.Separately, China has kick-started a clinical trial to test a drug as the nation rushes therapies for those afflicted and scours for vaccines to protect the rest. Remdesivir, a new antiviral drug by Gilead Sciences aimed at infectious diseases such Ebola and SARS, will be tested by a medical team from Beijing-based China-Japan Friendship Hospital for efficacy in treating the coronavirus.U.S. to Send More Evacuation Flights to China (2:31 p.m. HK)The U.S. will be sending a “handful more” flights to bring citizens back from China’s Hubei province, U.S. Secretary of State Michael Pompeo told reporters, according to a pool report. The U.S. may bring citizens from other countries as well, the report said.Hong Kong Medical Workers Strike (2:16 p.m. HK)Hong Kong medical professionals began a five-day strike Monday after the government refused their demand to shut all entry points from China. Deacons Yeung, the Hospital Authority’s Director of Cluster Services, said emergency services remained normal and authorities had activated a “major incident control center” to monitor the situation.Virus Is Most Deadly in Hubei Province (12:45 p.m. HK)The number of official cases from the coronavirus is still highly concentrated in Hubei province. Of the 17,205 confirmed infections in mainland China so far, 65% are in Hubei, where the outbreak originated and where residents are in effective lockdown because of travel restrictions.The virus also appears to be more deadly in Hubei, accounting for 97% of the 361 total deaths reported in the country.U.S. Reports Additional Cases (11:20 a.m. HK)California confirmed two new cases of coronavirus in San Benito County, bringing the total of infected patients in the U.S. to 11.The two cases are a married couple, one of whom traveled to China. Earlier Sunday, Santa Clara’s public health department reported an additional coronavirus patient. The woman had traveled to Wuhan and visited the U.S. on Jan. 23. It’s the second case in the county, which is just south of San Francisco.Chinese Stocks, Commodities Plummet as Markets Reopen (9:38 a.m. HK)Chinese stocks plummeted the most since an equity bubble burst in 2015, with the CSI 300 Index dropping as much as 9.1%, as onshore financial markets opened for the first time since Jan. 23.China’s three major commodity exchanges were hit by a wave of selling as investors returned to markets gripped by fear over the impact the coronavirus will have on demand in the world’s biggest consumer of raw materials. China’s benchmark iron ore contract fell by its daily limit of 8%, while copper, crude and palm oil also sank by the maximum allowed.China reduced rates as it injected cash into the financial system, with the central bank seeking to ensure ample liquidity as markets plunge. It cut borrowing costs on the funds by 10 basis points.China Virus Cases Climb Above 17,000 (8:12 a.m. HK)China’s death toll increased by 57 to reach 361 as of Feb. 2, according to a statement from the Ministry of Health. Total confirmed infections climbed to 17,205, with the addition of 2,829 cases in the past 24 hours. There are 2,296 severe cases, the ministry said.(An earlier version of this report corrected the timestamp on one item.)\--With assistance from Alfred Liu, Miaojung Lin, Debby Wu, Abeer Abu Omar, Sara Marley, Helene Fouquet, Charlie Zhu, Miao Han, Kiuyan Wong, Jason Gale, Claire Jiao, Steve Geimann, Chris Reiter, Stepan Kravchenko, Andrey Biryukov, Richard Bravo, Nikos Chrysoloras, Jonathan Levin and Shawn Donnan.To contact Bloomberg News staff for this story: Jihye Lee in Seoul at jlee2352@bloomberg.net;Niu Shuping in Beijing at nshuping@bloomberg.net;Steven Yang in Beijing at kyang74@bloomberg.netTo contact the editors responsible for this story: Rachel Chang at wchang98@bloomberg.net, ;Drew Armstrong at darmstrong17@bloomberg.net, Adveith NairFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: What's not to like?

    * European shares up, extend gains after strong U.S. factory data * Ingenico rallies on Worldline takeover offer, top gainer in Europe * UK manufacturing ends longest decline since financial crisis * EU and Britain clash over a post-Brexit trade deal Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. The main source of bullishness of both sides of the Atlantic (S&P is currently up 0.6%) is the latest data fuelling hopes that the manufacturing sector is finally bottoming out. After wiping $400 billion off Chinese stocks this morning, global economists are scrambling to adjust their projections to account for the impact of the virus.

  • Reuters - UK Focus

    LIVE MARKETS-Coronavirus impact: fragile, handle with care

    * European shares up, extend gains after strong U.S. factory data * Ingenico rallies on Worldline takeover offer, top gainer in Europe * UK manufacturing ends longest decline since financial crisis * EU and Britain clash over a post-Brexit trade deal Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. Reach her on Messenger to share your thoughts on market moves: joice.alves.thomsonreuters.com@reuters.net CORONAVIRUS IMPACT: FRAGILE, HANDLE WITH CARE (1520 GMT) We can't stop talking about coronavirus, can we? After wiping $400 billion off Chinese stocks this morning, global economists are scrambling to adjust their projections to account for the impact of the virus.

  • Reuters - UK Focus

    RPT-GRAPHIC-Why the 'devil' coronavirus has hit European stocks hard

    With the death toll rising to 213 despite travel restrictions, the impact was most evident in European equity markets in shares of companies which pocket the bulk of their revenues from China, the world's fastest-growing consumer market. The pan-European STOXX 600 index is poised for its biggest weekly loss in four months, while among individual stocks Germany's Infineon, which gets two-thirds of its revenue from China, has fallen 10% despite strong quarterly results from Apple, its biggest customer. The Goldman Sachs' "China exposure" basket of European stocks has slumped 5% this week alone.

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