BrightHouse and Carluccio's fall into administration; oil hits 17-year low - as it happened

Graeme Wearden

from Economics | The Guardian on 2020-03-30 16:35 (#51EAM)

Rolling coverage of the latest economic and financial news

Latest: BrightHouse and Carluccio's call in administrators
More than 4,000 jobs at risk
Economists: UK economy faces steep recession
One in five people expect a depression

Earlier:

5.34pm BST

Time for a recap

The economic impact of the coronavirus has driven two UK firms into administration today, with more likely to follow.

5.28pm BST

Emerging economies face a "looming financial tsunami" from the coronavirus pandemic, and need urgent help from rich countries, says the United Nations:

5.19pm BST

Andrew Johnson, Money Expert at the UK's Money and Pensions Service, says BrightHouse customers who are struggling to meet their repayments should contact the firm:

"Even though Brighthouse has gone into administration, customers should still keep up with their normal repayments unless a payment holiday has already been agreed.

At this particularly difficult time for many families, anyone who is going to struggle to make payments on time should contact the firm as soon as possible to see if they can offer any additional flexibility. Free debt advice could also help you get back on track - find support near you by using our debt advice locator."

5.05pm BST

Most European stock markets ended the day higher, although Spain was dragged back by heavy losses among its banks (after the ECB blocked eurozone banks from issuing dividends before October)

4.50pm BST

After a late rally, Britain's FTSE 100 share index has closed nearly 1% higher tonight.

The Footsie, which fell over 150 points at one stage today, has closed 53 points higher at 5563.

4.44pm BST

Dr Gordon Fletcher, retail expert from the University of Salford Business School, points out that Carluccio's and BrightHouse were already in trouble, before the coronavirus pushed them under today.

"Carluccio's were already struggling and at risk before this started. Social distancing has really ensured that it was a quick ending. This closure also reveals the impact that the relatively recent death of the founder has had on the business's organisational culture.

"Brighthouse's closure reflects the impact of increased public scrutiny and dissatisfaction with the business model among its target customers. The closure of stores will be a challenge for its current customers who must continue to make their payments despite the shutdown.

4.30pm BST

UK manufacturing group Melrose have just issued a profits warning, due to the impact of the coronavirus on its business.

In a statement to the City, Melrose says:

Following a successful 2019, the Group traded in line with management expectations from January through to mid-March. From mid-March onwards a significant deterioration started to be seen and was experienced in the end markets that Melrose serves as a result of COVID-19.

Given the current uncertainty around future demand as governments carry out unprecedented actions in many countries, the Group is unable to provide a meaningful outlook at the current time, but is closely monitoring and adapting to all developments.

4.16pm BST

Back in the markets, shares are embarking on a late rally.

Britain's FTSE 100 has burst into positive territory for the first time today, up 28 points or 0.5%. European stocks are up too, following gains on Wall Street.

Europe markets turning positive into the close. pic.twitter.com/qxn3icvcPI

4.00pm BST

The collapse of restaurant chain Carluccio's and rent-to-own retailer BrightHouse are a clear sign the government's coronavirus lockdown is biting the high street, writes my colleague Sarah Butler:

Analysts believe a substantial number of restaurant, retail and leisure businesses will struggle to survive in the coming weeks. Mark Brumby, a hospitality and leisure analyst at Langton Capital, predicted that five or six firms could collapse this week alone. The coronavirus outbreak, he said, had "hit the industry like a brick".

BrightHouse's stores were also already closed under the government's coronavirus control measures but administrators said the business would continue delivering smaller items to homes and, where possible, would continue servicing items already in people's homes.

3.47pm BST

In other retail news, the surge in supermarket panic buying may be on the wane.

Online bank Starling, which has 1.25 million UK account holders, said transactions in supermarkets peaked two weekends ago and had been falling since.

"Our data suggests that the panic buying seen in the UK's supermarkets over recent weekends peaked two weeks ago on Saturday 14 March, with the number of transactions on that day up about 15% compared to pre-virus levels.

Over the weekend of 21-22 March transaction volumes fell back to levels seen before the crisis."

3.44pm BST

Nigel Frith, a senior market analyst at Asktraders.com, predicts many more retailers will fall into administration during the coronavirus crisis - despite official efforts to prop firms up.

The increasingly stricter measures implemented by the government to contain the spread of coronavirus, combined with collapsing consumer confidence is proving to be every retailer's worst nightmare. The sector was already in a troubled place before coronavirus struck, now the chances of survival are greatly reduced. Brighthouse and Carluccio's are just the latest in what promises to be a very extensive list of retailers that will struggle to make it through the coming 3 months.

It's no surprise that coronavirus has been the nail in the coffin for these retailers. Last month Brighthouse chain announced plans to axe 30 stores in a bid to salvage the company.

3.35pm BST

All BrightHouse's outstanding rent-to-own and cash loans remain subject to the original agreed terms and that customers should continue to make payments in the usual way, flags up Money Saving Expert.

Those loans are an asset on BrightHouse's books, so it seems likely that the administrator would find a buyer for them, even if the whole company wasn't rescued.

3.15pm BST

Jim McMahon, Labour & Co-operative MP for Oldham West & Royton, makes a good point:

I won't be mourning the loss of BrightHouse and it's cynical practices, but I hope we all spare a though for the 2,000+ staff, everyday working people.

Collapse of rent-to-own giant confirmed - BBC News https://t.co/rpgfU4iXVm

3.06pm BST

The crisis in UK retail is having a serious knock-on effect on landlords.

Quarterly rent payments (to cover April-June) were due last week. But Hammerson, one of Britain's biggest shopping centre owners, says it only received a third of what was due.

3.04pm BST

2.49pm BST

BrightHouse will not be the most mourned company to collapse in this crisis.

The company had become notorious for the steep charges it inflicted on its customers, who had to turn to rent-to-buy services as they didn't have enough cash to buy a TV or fridge up front.

Lisa Brady, 30, who lives in Hamilton, Scotland, and has four children, is typical of the company's customers, often young single mums. She tells Guardian Money: "I'm on benefits and it has been my lifeline, but the payments are just shocking."

She went to BrightHouse to buy her autistic son a computer which, she said, would have cost about 600 at Currys. But with repayments, that turned into 2,287 over 26 months. "My advice to other mums is to look about first, avoid BrightHouse," she says.

Hot salty tears here about high street sharks BrightHouse going down the toilet.

2.38pm BST

The Covid-19 pandemic is a drastic shock to the UK economy, creating a "Darwinian" situation in which only the fittest companies will emerge.

So says John Colley, associate dean at Warwick Business School, writing about the collapse of BrightHouse and Carluccio's today:

"Those companies without cash or only limited availability of credit have a major problem. Many businesses simply do not have access to adequate cash or credit lines and will disappear during the next six months, only the strongest will survive. Unless there is significant government underwriting of bank debt many loans will be foreclosed and banks will not be keen to increase their exposure.

"Two principal industries that will be major sufferers as creditors to bankrupt companies are the property industry and banking. Rents are unlikely to be paid, bank loans will default, suppliers more generally will have a hard time as customers are unable or unwilling to pay for supplies as they conserve cash. In some cases this is deferral in others the debt will never be paid.

The consequence of high debt is that many of these businesses will now be severely troubled.

There will be many good businesses encumbered with too much debt that can be bought out of receivership.

"In effect this is Darwinist survival of the fittest compressed into six months. Business will not be the same again."

2.29pm BST

Administrator Geoff Rowley of FRP, who has now taken control of Carluccio's, says he hopes to rescue the business and protect staff:

"We are operating in unprecedented times and the issues currently facing the hospitality sector following the onset of COVID-19 are well documented.

"In the absence of being able to continue to trade Carluccio's, in the short term, we are urgently focused on the options available to preserve the future of the business and protect its employees."

@Carluccios taking 50% of a payslip off hours that have already been worked is not acceptable. All your staff had their hours cut and are not working and are relying on this payment to keep them living for the next several months! @BBCNews @itvnews #news #carluccios @UsdawUnion pic.twitter.com/4Sd2nFF4U2

Hideous for employees furloughed by companies which then collapse. Presume they lose the 80% government wages underwrite and have to join the impossible queues for UC. Their #insolvency claims on the Redundancy Fund won't be paid quickly in this crisis. #Carluccios #Chiquito

2.05pm BST

Sky News's Mark Kleinman has more details of today's developments:

A total of 4,500 high street jobs are hanging by a thread after BrightHouse, the rent-to-own retailer, and restaurant chain Carluccio's filed for administration.

Sky News understands that the two companies were in court on Monday morning to formalise insolvency proceedings after closures triggered by the coronavirus outbreak tipped them into bankruptcy.

2.01pm BST

The BBC says anyone who's renting an item from BrightHouse (to eventually own it) should keep paying -- even though the firm's now entering administration.

Julie Palmer, from corporate recovery business Begbies Traynor, said: "Coronavirus was the final nail in the coffin for BrightHouse."

BrightHouse has 240 shops and 2,400 employees, who now face the loss of their jobs. Its 200,000 rent-to-own customers make monthly payments for household appliances, in effect renting goods (and paying interest) until they have paid in full.

1.56pm BST

Reuters reports that administrators will try to find a buyer for Carluccio's:

British restaurant chain Carluccio's entered administration on Monday, putting around 2,000 jobs at risk, after challenging trading conditions on the high street were exacerbated by the spread of coronavirus.

Joint administrators from advisory firm FRP have been appointed to explore options including a sale of all or parts of the group, which was founded in 1991 by Italian chef Antonio Carluccio.

1.48pm BST

Two UK companies have just fallen into administration, as the Covid-19 crisis continues to damage the British economy.

Brighthouse, the rent-to-own electricals giant, and restaurant chain Carluccio's have both entered administration, putting more than 4,000 jobs at risk.

"Few former customers will mourn the loss ofBrightHouse which has been embroiled in a mis-selling scandal since 2017, however its imminent collapse will be concerning for employees and those still waiting to resolve claims against the firm.

"If the retailer goes bust, an administrator is likely to oversee the scores of mis-selling claims lodged against the firm. However, claimants may have to wait longer for their compensation and receive a smaller sum.

Revealed: BrightHouse, the rent-to-own retailer, and Carluccio's, the Italian restaurant chain, have both collapsed into administration, putting 4500 jobs at risk and underlining the threat to Britain's high streets from the coronavirus pandemic. Full story on @skynews sooin.

1.21pm BST

Workers from businesses across the UK have told MPs that they are being put at risk by employers who insist they keep working, despite the coronavirus lockdown.

The Business, Energy and Industrial Strategy (BEIS) Committee received the warnings, after asking employees to get in touch with their experiences of working during the Covid-19 crisis.

There are hundreds of people working in our centres, there has been no deep cleaning done and some people are off self-isolating because they have symptoms of the virus, no tests can be done on these advisors so we don't know if any of them have the virus or not but they still were coming to work before going off to self-isolate. We are asked now to stay 2 metres apart when at desks but when all the teams are in this is going to prove very difficult as there will not be enough workspace to do this.

We are still using the one lift we have altogether and still passing each other on the stairs, in the toilets and in the canteen and also queuing for food together.

Yesterday, high risk members of staff were forced to commute into the office for training on 'how to work from home.' The training should've taken 45 minutes but staff were made to wait around for 3 hours until AXA realised the training couldn't be delivered and the staff were sent home without laptops. Shocking behaviour from a company who advertises how important health is.

An area leader is condoning staff bringing their children into work if they don't have childcare which again goes directly against the government ruling on maintaining social distancing.

To encourage our customers to social distance staff have had to go on their own volition and out of their own pocket pay for tape to mark out spaces on the floor, the 2-metre rule isn't being followed between customers or colleagues.

There is no flexible working or working from home, no hand sanitiser and they are being asked to continue to conduct tours of the centres, host meetings and key-holders continue to come into centres. It seems madness these remain open when libraries, schools, retail outlets are forced to close. Staff are being told if they do not come in, they will not be paid. This means my partner is having to go into work, breaking government guidelines and potentially infecting our household. It is beyond irresponsible and communicating that Regus is very much 'open for business' sends the wrong message.

There is a backlash on Twitter, a petition and staff are in tears as they are put in an invidious position, deciding between health or an income.

@RegusGlobal Regus is putting their staffs' lives at risk by keeping London office centres open whilst claiming it's because they are used by key workers. Completely wrong.

IWG supports millions of workers. We provide many services to help our customers work efficiently and we are keeping these running using small groups of dedicated volunteers. We are not forcing anyone to work from our centres.

Last week they were handed information for the coronavirus outbreak which told them, amongst other things, that if they take time off to self-isolate or because they have contracted the coronavirus, this would be added to their Bradford factor index score - therefore risking disciplinary action and/or termination of employment.

"When this pandemic passes, businesses will have to answer for how they treated their workers and suppliers. The Government will be judged on the effectiveness of their response.

Many businesses will be able to tell of how they did everything they could while others will be found wanting. The BEIS Committee will continue to press for action on these issues and hold the Government and businesses to account for their response to this pandemic."

12.48pm BST

TV sales in Britain have surged since people were told they should stay home and only go out for essential trips to the shops or to exercise, according to data firm GfK.

Sales volumes were almost 60% higher in the week to 21 March, with the amount spent in total rising by 43%.

"This suggests people are buying basic models for practical solutions, rather than splashing out to enhance the viewing experience with a better model. Basically, people are facing having their entire household at home every day; possibly with the need to keep distance from each other, and almost certainly with very different views on what they want to watch - so they are quickly buying an extra TV to spread out around the house."

More people are watching DVDs or Blu-ray disks, with the number more than doubling to 11% from the previous week. Download to own content viewing also doubled, to 9%. On the other hand, there has been a drop in the number of people accessing premium TV packages such as Sky Sports. This is hardly surprising as all sports events have been cancelled.

12.37pm BST

The slump in the oil price has already forced some oil rigs to shut down, reports our energy correspondent Jillian Ambrose:

Global oil producers have begun shutting down their oil rigs on the largest scale in 35 years as the coronavirus continues to drive market prices to their lowest level since 2002.

The shutdown of oil wells has already wiped out almost 1m barrels a day from global production, but the figure is expected to rise as producers run out of space to store their extra oil as the crisis continues.

12.35pm BST

Almost 300,000 of Ireland's 2.3m workforce have been lost their jobs due to coronavirus (12%), according to the latest Department of Employment figures.
The department said it had processed 389,000 applications for Covid-19 unemployment payments since 16 March, the equivalent of 19-month workload. By last Friday 283,000 people received coronavirus dole payments under the Pandemic Unemployment Payment plan.

These numbers out of Ireland are huge

323,000 looking for Covid support in past 14 days.
389,000 applications for Covid-19 dole

Total labour force in Ireland = 2.3 million https://t.co/Org6izNABm

12.15pm BST

After a jittery morning, the FTSE 100 index of blue-chip stocks is down around 0.7%, or 40 points, at 5469.

With 75 shares down today, and only 25 up, it's been a poor morning for investors.

11.58am BST

After months of disruption, China's economy appears to be recovering as people return to shops and restaurants, reports Fidelity International.

Ned Salter, their head of global research, writes that consumer demand is rising, offering "a ray of hope in the economic wreckage from coronavirus".

"We estimate more than half of the restaurants in large Chinese cities have reopened, based on information gathered from operators, although many are running in shorter business hours than normal. Fast-food chains are generally doing better than high-end venues, as many customers prefer picking up takeaways to minimise infection risks. To assure eaters, restaurant owners have taken health measures such as regular disinfection and wider spacing between tables.

"Youngsters are leading a slow return to shopping malls across China. We estimate more than 80 percent of retail stores have reopened, although their average daily sales have dropped by around 40 per cent on average from March 2019 levels. Sportswear retailers like Li Ning and Anta are rebounding from a February slump and may resume year-on-year growth in June.

11.18am BST

Just in: Cruise operator Cunard has suspended all voyages until May 15th, a month later than first planned.

"The impact of COVID-19 is affecting personal routines and businesses as well as placing significant travel restrictions around the world,"

"Everyone in the Cunard team is aware of the need to support the management and containment of COVID-19 globally. This includes protecting the health and safety of our guests and crew. It is therefore right we extend the pause in operations.

11.11am BST

Goldman Sachs have predicted that oil companies will be forced to cut down wells in their, because demand is slumping due to the coronavirus.

In a new note, they say Covid-19 is causing "the largest economic shock of our lifetimes".

Indeed, given the cost of shutting down a well, a producer would be willing to pay someone to dispose of a barrel, implying negative prices in landlocked areas.

The ultimate magnitude of these shut-ins, which is still unknown, will likely permanently alter the energy industry and its geopolitics.

Goldman just published, in our view, their best report on oil to date. #OOTT pic.twitter.com/jsegqFcNaJ

Section on why it's a "game changer." pic.twitter.com/ntDRM3amzd

10.53am BST

10.41am BST

Back in the City, shares are recovering some of their earlier losses.

The FTSE 100 is currently down 0.5% or 33 points at 5477 - an improvement on its earlier slide. But there are still some hefty loss, with Meggitt (-14%) Melrose (-9%) and Rolls-Royce (-9%) still leading the fallers today.

10.32am BST

Polling firm YouGov has found that more than half of Britons (52%) expect a recession within the next year.

That's not too surprising -- most City economists expect the economy to contract sharply too.

Government mandated closures of non-essential shops, pubs, restaurants and other establishments will have a devastating effect on several industries and in particular on the leisure and hospitality sectors.

It is now highly likely that the economic crisis will lead to an increase in unemployment and a reduction in household incomes in the coming months, although the Government and the Bank of England are working hard to soften the blow. To limit the economic damage from the crisis, it will be crucial to get the pandemic under control as quickly as possible."

10.19am BST

The coronavirus crisis has caused an unprecedented slump in confidence across the eurozone.

Optimism across consumers, companies and investors fell at a record rate this month, according to the EC's latest sentiment index.

Eurozone Consumer Confidence Mar F: -11.6 (prev -11.6)
- Economic Confidence Mar: 94.5 (exp 91.6; R prev 103.4)
- Industrial Confidence Mar: -10.8 (exp -12.6; R prev -6.2)

Importantly, in many countries the vast majority of survey responses were collected before strict containment measures were enacted to combat the spread of the Corona virus

9.46am BST

Ancient history corner: The number of mortgages approved in the UK jumped to 73,546 last month, from nearly 71,000 in January, the Bank of England reports today.

That suggests Britain's housing market was picking up... just before Covid-19 smashed demand. With the UK government now instructing people NOT to move house if possible until the crisis is over, mortgage approvals are probably now falling like the oil price.

GBP Mortgage Approvals (FEB),
Actual: 73.55K
Expected: 68.5k
Previous: 70.9khttps://t.co/UvDaaxBeYx

9.33am BST

Over in Germany, engineering firms are struggling to get their hands on raw materials and parts, according to industry association VDMA.

But.... there are also signs that China's manufacturing sector is returning to work, after the coronavirus outbreak forced many firms to stay closed.

"The proportion of companies whose operations are affected rose from 60% to 84% within two weeks...

However, the situation in China and South Korea seems to be easing slightly.

9.19am BST

Digger maker JCB is to reopen one of its factories in order to make metal casings for a new ventilator designed by vacuum cleaner maker Dyson.

The newly designed ventilator is expected to be produced within weeks by Dyson in response to the coronavirus crisis, with the aim of producing 10,000 in preparation for a surge of critical cases of Covid-19. The production will start once the device gains regulatory approval.

"This project has gone from design to production in just a matter of days and I am delighted that we have been to deploy the skills of our talented engineering, design and fabrication teams so quickly at a time of national crisis.

This is also a global crisis, of course, and we will naturally help with the production of more housings if these ventilators are eventually required by other countries."

9.10am BST

Jack Allardyce, oil and gas analyst at Cantor Fitzgerald Europe predicts that the oil price will keep falling.

He points out that Saudi Arabia is resisting pressure from Washington to curb production, having dramatically boosted production this month.

"Crude prices plunged further over the weekend, with WTI slipping below $20 and Brent around the $23 level, as Saudi Arabia said it was not in talks with Russia despite Washington pressuring both sides to help stabilise markets.

"The potential for a renewed supply pact had been one of the few factors helping to prop up benchmarks, as coronavirus-driven demand destruction has continued to outweigh global stimulus efforts.

9.00am BST

The selloff in the oil price is now accelerating, driving Brent crude below $23 per barrel for the first time since November 2002.

The thing to stress is that we simply do not have any idea when demand will recover - it could take months to get back to some semblance of normality. And just as this is happening the Saudis are opening the spigots. It's getting to the point where we run out of places to store the oil.

8.42am BST

All the main European stock markets have dropped in early trading, with the Stoxx 600 down 1.3%.

8.36am BST

Across Europe, bank shares are dragging markets into the red after they were ordered not to pay dividends.

Italy's Unicredit (-4.8%), ABN Amro (-6%) and the Netherland's ING (-7.8%) are all suffering from the European Central Bank's instruction to freeze dividend payments and share buybacks this year.

8.28am BST

Britain's FTSE 250 index of medium-sized companies, has also dropped in early trading.

Again, the impact of the coronavirus is clear. Dixons Carphone, which issued a Covid-19 profit warning last week, are down 15%.

8.19am BST

The London stock market has opened in the red, dashing hopes of small gains.

The FTSE 100 has shed 94 points in early trading, a drop of 1.7%, taking it down to 5417.

8.12am BST

In happier days, budget airline easyJet would be celebrating a drop in the oil price.

"I am extremely proud of the way in which people across easyJet have given their absolute best at such a challenging time, including so many crew who have volunteered to operate rescue flights to bring our customers home.

We are working tirelessly to ensure that easyJet continues to be well positioned to overcome the challenges of coronavirus."

8.07am BST

Fears of a global recession also forced China's central bank to ease monetary policy overnight.

"This will take some pressure off the banks which have so far been forced to bear the brunt of the cost of propping up struggling firms via preferential loans.

"But a lot more easing will be needed, especially on the fiscal front, to help the economy return to its pre-virus trend."

7.59am BST

The slump in the oil price comes as economists predict UK economic output could plunge by an unprecedented 15% in the next three months.

All due to the coronavirus, of course, as my colleague Rob Davies explains:

The deepest recession since the financial crisis is now all but unavoidable, according to analysts at the Centre for Economics and Business Research (CEBR), after businesses shut up shop and consumer spending fell dramatically as a result of lockdown restrictions.

The centre said it expected the economy to have shrunk marginally in the first three months of the year by 0.5%, followed by the steepest economic contraction since comparable records began more than 20 years ago.

7.59am BST

More reaction to oil's slump to 2002-lows:

The #oil supply shock is not finished: The price of Brent crude has fallen to a fresh 17y, (WTI: $20.5 and Brent: $23.5), chart @JohnAuthers https://t.co/A7T75MHU2j pic.twitter.com/mG0ncjXcYS

Brent crude down to $23.03 per barrel .
Lowest price for 18 years. Challenging times for #oilandgas industry https://t.co/xHYtgieSzD

7.57am BST

Bloomberg's John Authers predicts that the oil price will keep falling....

Trading has started for another week. Brent Crude is down slightly, to set a new post-2002 low. Plenty more to follow.... pic.twitter.com/qphv12CCAV

Some long-term perspective on oil. This is the ratio of Brent Crude futures to gold going back to 1989. It's at a record low, and the descent of the last few weeks matches that seen in 2008: pic.twitter.com/K9Goy4MYCH

7.46am BST

Some oil producers could be forced to stop pumping because they run out of places to put their unwanted crude, says the Financial Times:

"This is a historic oil price collapse, and it is not done yet as the system physically runs out of places to put all the oil," said Jason Bordoff, a former energy adviser to the Obama administration and the founder of the Center on Global Energy Policy at Columbia University.

"The pain in the shale patch is going to be severe. We will see production shut-ins accelerate."

7.30am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

With the world economy in crisis, oil prices have sunk to fresh 17-year lows this morning.

Markets are tangibly more pessimistic about the outlook for the global economy. Last week's positivity around the US fiscal stimulus package has waned, giving way to level of risk aversion.

Risks to the financial system are lower thanks to last week's extraordinary interventions from the US Federal Reserve.....And oil prices have hit 17-year lows, as weaker demand conditions continues compound crude's building global oversupply.

Even though we have seen huge intervention from central banks and governments recently, the oil market pushed lower as dealers are afraid that demand will severely drop off on account of the pandemic.

To make matters worse, the Saudi Arabia-Russia price war is hurting the oil market too as the Saudis are keen to push the price lower to get back at Moscow. The slump in oil is hitting the shale industry too, which is concerning the US government.

The ASX has finished up 7%, its best day on record.

After a long time suggesting they couldn't do it, the government has announced a wage subsidy package.

Lots of red tape but in short A$1500 a fortnight per worker. pic.twitter.com/UvA5OxfXUb

European Opening Calls:#FTSE 5541 +0.56%#DAX 9715 +0.85%#CAC 4392 +0.92%#AEX 469 +0.96%#MIB 16957 +0.80%#IBEX 6763 -0.22%#OMX 1438 +1.29%#STOXX 2754 +0.92%#IGOpeningCall

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